More than 4 million homeowners missed mortgage payments amid coronavirus

Published

4 years ago

May 19, 2020

More than 4 million homeowners missed mortgage payments amid coronavirus

Fewer Americans call their mortgage officers to ask for help from mortgage payments, but the housing industry hasn’t come out of the woods yet.

More than 4.1 million homeowners are in patience plans now, according to the latest data from the Mortgage Bankers Association.

While mortgage officers are still facing pressure due to the many requests for repayment, signs indicate that the prospect of homeowners has increased as parts of the country began to emerge from orders for coronaviruses living at home.

Overall, 8.16% of all mortgages were in patience on May 10, which means borrowers can skip or reduce payments, the trade group said. That was up from 7.91% on May 3, which was the smallest increase since March. Patience demand dropped from 0.52% of the total mortgage volume to 0.32%.

“There has been pronounced leveling in delayed loans – despite uniformly negative April economic data, unemployment is very high, and now past the May payment due date,” Mike Fratantoni, chief economist for the Mortgage Bankers Association, said in the report.

Potential exceptions to this trend are market segments for loans supported by Ginnie Mae, including Federal Housing Administration (FHA) and Veterans Affairs (VA) loans. More than 11% of Ginnie Mae’s loans are in patience due to a coronavirus outbreak. These loans tend to be given to borrowers who are first time homeowners with weaker credit – people who can be more exposed to the economic crisis caused by the pandemic.

While the pace of homeowner demand has slowed, the end of the mortgage industry’s problems is not necessarily visible. A recent report from the UK-based economic forecasting firm, Oxford Economics estimates that 15% of homeowners will miss their monthly mortgage payments.

The prospect of homeowners will likely depend on their ability to get back on their feet, especially for those who have lost their jobs. The good news for mortgage lenders is that job losses caused by coronavirus have largely been concentrated in the service sector, according to a report from First American Financial FAF, + 6.59%, a title insurance company. Because this job has lower skills and lower wages, it is less likely that new unemployed people have a home.

Goodwin Townsend

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Portuguese historical films will premiere on 29 December.

Published

1 year ago

December 20, 2022

Herb Adkins

Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

“Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

Published

1 year ago

December 20, 2022

Herb Adkins

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

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Herb Adkins

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Published

1 year ago

December 19, 2022

Herb Adkins

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.