Though Millions Remain in Forbearance, Numbers Are Decreasing

first_imgHome / Daily Dose / Though Millions Remain in Forbearance, Numbers Are Decreasing in Daily Dose, Featured, Loss Mitigation, Market Studies, News  Print This Post Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily March 26, 2021 1,445 Views The Best Markets For Residential Property Investors 2 days ago A week ago we saw forbearance activity drop below 2.6 million for the first time since last April, according to Black Knight’s McDash Flash Forbearance Tracker, and the decline continues this week.Active plans fell again this week, dropping by another 19,000 (-0.7%) from the previous Tuesday. In total, this puts the number of active plans down by 135,000 over the last month, or – a 5% reduction.The monthly decline represents the healthiest rate of improvement since the end of last November.Black Knight’s researchers say it is a direct result of servicers working through the 1.2 million plans that entered this month with scheduled March month-end expirations for extension and/or removal.They stress that even with such strong monthly improvement, there are still more than 46,000 active plans with March month-end expirations, which provides the potential for additional improvement in the coming weeks.As of March 23, 2.57 million homeowners remain in forbearance, representing 4.9% of all homeowners with mortgages.By type of loan:The week’s improvement was driven by decreases among both Fannie Mae/Freddie Mac-backed loans, at -21,000, and FHA/VA plans, which dropped by 10,000. Among portfolio/PLS mortgages, however, activity increased by 12,000.”Early extension activity suggests servicers continue to approach forbearance plans in three-month increments, with the bulk of would-be March expirations being extended out through June,” BK reported. “Plan extensions have accounted for 75% of all extension/removal activity in recent weeks, but removals are up simply as a result of the volume of expirations that were scheduled for this month.”The Federal Housing Finance Agency (FHFA) recently announced extensions of several measures that the agency says will align COVID-19 mortgage relief policies across the federal government. This announcement, which extends temporary measures (previously set to expire March 31) until the end of June follows the White House’s February 16 moratoria extension applied to all federally backed mortgages through the same period.Said measures include provisions for borrowers with Fannie Mae or Freddie Mac-backed mortgages who may be eligible for an additional three-month extension of COVID-19 forbearance, according to a press release. This additional three-month extension allows borrowers to be in forbearance for up to 18 months. Black Knight notes this includes the bulk of would-be March expirations.Finally, the McDash Flash Payment Tracker shows that 90.7% of observed borrowers had made their payment through March 22, up from 89.8% at the same time in February.Find the full weekly forbearance reports on Black Knight’s blog. Servicers Navigate the Post-Pandemic World 2 days ago Previous: Ex-GSE CEO Sees Hope in Toomey’s Housing Reform Plan Next: SFR Markets See Decline in Annual Profits Subscribe Though Millions Remain in Forbearance, Numbers Are Decreasing Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2021-03-26 Christina Hughes Babb About Author: Christina Hughes Babb Share Savelast_img read more

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Program helps veterans adapt to life in college

first_imgIt was November 20, 2010, the last football game of the season at Harvard Stadium. The outside linebacker for Yale University, Jesse Reising, was about to leave college with his life planned out — following graduation, Reising was slated to enter the Marine Corps. In a matter of seconds, his plans would be derailed.With just 10 minutes left in the final quarter, Reising saw the Harvard running back head toward him. He distinctly remembers that his shoulder pads were too low. Before he knew it, he was lying on the 27-yard line, barely conscious. The impact had detached two nerves in his neck, and paralyzed his right arm above the elbow, shattering his hopes of joining the Marines.Reising soon found another way to serve his country, through helping veterans assimilate into college. He connected with veteran and fellow Yale graduate Christopher Howell to create the Warrior-Scholar Project, which came to USC last summer.Partnering with 11 top-tier colleges such as Yale and Vassar College, the Warrior-Scholar Project was established as a skill bridge between enlisted service to college.Even though the government provides monetary support for veterans in the G.I. Bill, it is not clear how many of them graduate from college. The Warrior-Scholar Project recognizes that receiving a degree requires not only the opportunity, but also  the ability to adjust to academia. For veterans that enlisted out of high school, the gap between institutions makes it difficult for them to transition back into school, especially college.“Over 40 percent of post-GI dollars are finding their way to private, for-profit college industries,” said Sid Ellington, the executive director for the Warrior-Scholar Project. “Most of these people are really smart, very capable. They just aren’t prepared to take full advantage of the opportunities of higher education.”The program works like an academic boot camp every summer, lasting from one to two weeks. It focuses on two types of skills: tactical and strategic.Tactical skills include things like breaking apart a syllabus, time management and taking notes efficiently. Strategic skills, also known by the scholars as “engi-reading,” are taught by professors at the University.The professors teach about liberty and democracy from the perspectives of their own disciplines, such as international relations, political science, law, philosophy or English, making analytical reading and writing easier for veterans to identity with. Veterans of all different demographics are selected.“There were some people still going through medical treatment. There were veterans that were retired 15 or more years. The ones that were enrolled in college were from both four-year and community college,” said Tina Fleming, a tutor at the USC Warrior-Scholar partnership.The program director of the Warrior-Scholar Project at USC is Jesse Ramirez, a junior majoring in political science. Originally from Chicago, Ramirez moved to Los Angeles to be closer to his brother, who was stationed in San Diego with the Marines. He attended Santa Monica College for two years before transferring to USC. At the University, he started working for the Veterans Resource Center and was invited by his supervisor to attend a veteran issues meeting, where the opportunity for the Warrior-Scholar presented itself“A veteran myself, I’ve always worked with other veterans. so it’s a very close community,” Ramirez said. “I resonate with all of their struggles — I was in a position where I needed help and that help wasn’t available.”The program at USC was carried out for the first time last summer with 14 students and lasted for about a week. In the morning they were taught by USC faculty, then spent the rest of the day in critical thinking and critical writing courses interspersed with talks about the college application process, visits to the library, and other aspects of university life. According to Fleming, with this rigor came some difficulties.“The material that they read is really heavy, and the immersion process for students definitely isn’t easy,” Fleming said. “There are moments when people break down or feel like they just want to walk away because it’s really intense, and they might not get too much sleep. But in the end, the majority of people are satisfied, and the program really promoted USC by having the students come to campus and learn through USC professors.”The idea for the program coming to campus was first proposed by the chairman of the Board of Trustees, John Mork, who heard about it from a veteran who works for him. Mork asked Provost Michael Quick to consider supporting it, and eventually USC became the first West Coast school to join the program. Mark Todd, vice provost and manager of the WSP branch at USC, said that he finds the most rewarding part of the program to be the reciprocation for the service veterans have provided us through education.“What is most rewarding to me, [is]that we offer the best of what USC has, to help those who have sacrificed so much to serve us,” Todd said. “They come away believing that they can really succeed at a university like USC. It is powerful.”last_img read more

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Gabriel, Holder Crush England Top Order

first_imgWith just three runs added, Rory Burns perished lbw for 30 in Gabriel’s next over courtesy DRS and Zak Crawley (10) added 20 with Stokes for the fourth wicket before also being given lbw on review, to become Holder’s first wicket of the morning. At lunch, the hosts were reeling on 106 for five with their captain Ben Stokes unbeaten on 21 and wicketkeeper Jos Buttler unbeaten on nine. After a quiet start to the morning, England lost their first wicket of the day to be 48 for two when right-hander Joe Denly was late on a defensive prod and was bowled by Gabriel after adding four to his overnight 14. Resuming on 35 for one after only 82 minutes were possible on Wednesday, England’s batsmen found themselves pegged back by an accurate Windies attack in seam-friendly overcast conditions and were quickly under pressure. West Indies had the chance to remove Stokes 10 minutes before the interval but Kemar Roach put down a difficult low diving catch at long leg off pacer Alzarri Joseph, after the left-hander failed to control an ambitious pull. England batsman Joe Denly is bowled by fast bowler Shannon Gabriel (out of picture) on Thursday’s second day.center_img Gabriel, who has bowled with consistent pace, has taken three for 38 while the accurate Holder has picked up two for 24. SOUTHAMPTON, England – Fast bowlers Shannon Gabriel and Jason Holder shared four wickets as West Indies wiped out England’s top order in the opening session of the first Test at the Ageas Bowl on Thursday. And Ollie Pope then punched two handsome boundaries in scoring 12 before nicking one from Holder which angled in then straightened, for wicketkeeper Shane Dowrich to complete a straightforward catch at 87 for five. CMClast_img read more

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