Vermont one of few states to see increase in bad mortgages

first_imgWhile Vermont still has the second fewest bad mortgages (delinquent plus foreclosed) east of the Mississippi, Vermont was one of only a handful of states that saw an increase in bad mortgages between October 2010 and October 2011, this is in contrast to the Unites States as a whole, which has seen a drop in non-current housing loans of 7.5 percent over the last year. Meanwhile, Vermont’s number has increased 5.7 percent. Vermont is one of only seven states to see an increase in bad mortgages.The October Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS) shows mortgage delinquencies nationwide (see chart below) continue their decline, now nearly 30 percent off their January 2010 peak. Meanwhile, foreclosure inventories are on the rise, reaching an all-time high at the end of October of 4.29 percent of all active mortgages. The average days delinquent for loans in foreclosure extended as well, setting a new record of 631 days since last payment, while the average days delinquent for loans 90 or more days past due but not yet in foreclosure decreased for the second consecutive month.Judicial vs. non-judicial foreclosure processes remain a significant factor in the reduction of foreclosure pipelines from state to state, with non-judicial foreclosure inventory percentages less than half that of judicial states. This is largely a result of the fact that foreclosure sale rates in non-judicial states have been proceeding at four to five times that of judicial. Non-judicial foreclosure states made up the entirety of the top 10 states with the largest year-over-year decline in non-current loans percentages.The October data also showed that mortgage originations are on the rise, reaching levels not seen since mid-2010. Mortgage prepayment rates have also spiked, as much of the new origination is related to borrower refinancing; loans originated in 2009 and later are the primary drivers of the increase. While FHA origination activity is down, GSE and FHA originations still account for the vast majority of all new loans – nearly nine out of every 10 new mortgages.As reported in LPS’ First Look release, other key results from LPS’ latest Mortgage Monitor report include:Total U.S. loan delinquency rate: 7.93%Month-over-month change in delinquency rate: -2.0%Total U.S. foreclosure pre-sale inventory rate: 4.29%Month-over-month change in foreclosure pre-sale inventory rate: 2.5% States with highest percentage of non-current* loans: FL, MS, NV, NJ, ILStates with the lowest percentage of non-current* loans: ND, AK, SD, WY, MT*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.Notes:(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.(2) All whole numbers are rounded to the nearest thousand. About the Mortgage MonitorLPS manages the nation’s leading repository of loan-level residential mortgage data and performance information on nearly 40 million loans across the spectrum of credit products. The company’s research experts carefully analyze this data to produce a summary supplemented by dozens of charts and graphs that reflect trend and point-in-time observations for LPS’ monthly Mortgage Monitor Report. To review the full report, visit http://www.lpsvcs.com/NEWSROOM/INDUSTRYDATA/Pages/default.aspx(link is external).About Lender Processing Services Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology, services and mortgage performance data and analytics to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop®), portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’ loan servicing platform, MSP. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com(link is external). JACKSONVILLE, Fla. – December 1, 2011last_img read more

Pensioner nabbed with cocaine in shoes at CJIA

first_imgA sixty-six-year-old man was arrested by ranks of the Custom Anti-Narcotics Unit (CANU) after he was discovered with almost 300 grams of cocaine at the Cheddi Jagan International Airport (CJIA).The cocaine found in the pensioner’s shoesThe suspect was found with the illicit drugs hidden in his shoes. The pensioner, who was US-bound, was taken into custody and is assisting with investigations. He is expected to be arraigned today.Earlier this year, a 24-year-old waitress was jailed for 4 years and fined $13.1 million after she was found with over four kilograms of cocaine stashed in storybooks and other items at CJIA.Rena Jagernauth, a Panama-bound passenger, was arrested after a search of her suitcase unearthed the substance.The cocaine was found stashed inside four children’s storybooks, deodorant and perfume bottles, a makeup kit and other personal items that were inside her suitcase.A little later in the year, four men were arrested by CANU ranks after they attempted to smuggle cocaine in fire extinguishers destined for an international location.The law enforcement agency had said that its agents raided a house at 26 Timehri, East Bank Demerara (EBD) and intercepted the cocaine.In September 2018, Shellon Yolanda Barrow of lot 135 Victoria Street, Albouystown, Georgetown, was arrested at CJIA after she was attempting to board a Jamaica-bound flight with the over 1 kilogram of cocaine concealed in a false wall of her hard cover carry-on suitcase.That arrest came days after a Guyanese woman, Alica Coppin, had revealed to Drug Enforcement Agency (DEA) at the JFK International Airport in New York that she had inserted a quantity of the narcotics into her vaginal cavity and swallowed another amount.Just before that arrest, another New York-bound Guyanese, hairdresser Karen Stuffle, was busted by CANU ranks at the CJIA with 100 cocaine pellets, totalling 1.42 kilograms, stashed in her vagina and stomach.She was subsequently sentenced to four years imprisonment and fined $2.3M for the crime.In July of 2018, 19-year-old Anesha Hardy of South Ruimveldt was jailed for 3 years and also handed a hefty fine after she was arrested by CANU ranks at CJIA after having admitted to swallowing some 119 cocaine pellets.Hardy, who was an outgoing passenger destined to JFK Airport, was stopped by a CANU rank who had received information of her motives.She was escorted to the hospital where an x-ray showed the pellets in her stomach.On July 5, 2018, 37-year-old Natasha Blair was also jailed for three years after she attempted to smuggle a quantity of cocaine through CJIA to the US.Blair, who was travelling with an 11-month old baby, was scheduled to board Caribbean Airlines flight BW726 destined for John F Kennedy International Airport.It was reported that when Blair checked in her luggage at Caribbean Airline counter, a CANU rank acting on information, approached her and informed her of his suspicion that she had ingested and inserted narcotics.Blair was cautioned and taken to the Georgetown Public Hospital Corporation (GPHC) where an x-ray was conducted. It revealed foreign objects in her stomach and pelvic area.It was disclosed that the pellets found in the woman stomach weighed 322 grams, while the object in her pelvic area weighed 210 grams.last_img read more