Bank of America leads Consumer Financial Protection Bureau complaints about mortgages

Thursday, October 3, 2013

A review this week by Wikinews of US Consumer Financial Protection Bureau (CFPB) complaints about mortgages in the United States shows Bank of America leads all lending institutions in complaints.

Since mortgages complaints were recorded in December 2011, 77,622 total have been added to CFPB’s database. 29.2% of these complaints involved Bank of America, with the second most received by Wells Fargo, accounting for 15.5% of all complaints. JPMorgan Chase ranked third by volume of complaints with 9.8%. Ocwen was fourth with 8.7% and Citibank was fifth with 4.8%. Nationstar Mortgage; Green Tree Servicing, LLC; HSBC; PNC Bank; U.S. Bancorp; OneWest Bank; SunTrust Bank; Flagstar Bank; and Select Portfolio Servicing, Inc. each had between 1.0 and 3.8% of total complaints. The remaining 14.4% of all complaints about consumer mortgages were divided between about 530 other lending institutions.

The Motley Fool reported last month that for the past fiscal quarter, the biggest US based mortgage lenders were from first to fifth Wells Fargo, JPMorgan Chase, Bank of America, Quicken Loans and U.S. Bancorp.

According to the US Federal Reserve, debt for family residences stands at US$10.706 trillion for the second quarter of 2013. As of the end of June of this year, Bank of America is the United States’s second largest commercial bank with US$1.343 trillion in domestic assets. Wells Fargo is the fourth largest commercial bank with US$1.251 trillion in domestic assets. JPMorgan Chase is the largest US commercial bank with US$1.329 trillion in domestic assets and US$1.947 trillion in total assets.

The mortgage complaints in the CFPB report include several subproducts. Conventional fixed mortgages account for 27.1% of all complaints. Conventional adjustable mortgages account for 10.0%. FHA mortgages account for 7.7% of all complaints. Home equity loans or lines of credit account for 3.8% of all complaints. VA mortgages are 1.4% of all complaints. Second mortgages and reverse mortgages each account for 0.6% of complaints. The remaining 48.7% of complaints are about other mortgages or other mortgage issues. A few years ago, FHA loans accounted for about 10% of all US mortgages while VA loans accounted for about 3%. Prime loans accounted for over 75% of the market and the rest were subprime mortgages.

California leads all states by volume of complaints with 14768. It is followed by Florida, New York, Georgia and Texas. When complaints are divided by a state’s total population, New Hampshire leads. The state is followed by Washington D.C., Maryland, Georgia and Florida. Complaints do not correlate with national rankings for August’s foreclosure rate by state where Nevada topped the list, followed by Florida, Ohio, Maryland and Delaware.

Two zip codes account for over 1,000 total complaints between them. 565 complaints originated in the 48382 zip code, which is in Commerce Township, Michigan, located in suburban Detroit. 553 complaints originated in the 33071 zip code, in Coral Springs, Florida. According to real estate website Zillow, there are currently 1,033 properties in foreclosure in Coral Springs while Commerce Township only has 131 properties currently in foreclosure. Four other zip codes have 100 plus complaints originating from them. 91730, in Rancho Cucamonga, California, had 158 complaints. 33409, in West Palm Beach, Florida, had 132. 92626, in Costa Mesa, California, had 125 complaints. 92660, in Newport Beach, California, had 122 complaints. Respectively, the towns had 534, 1,068, 153, and 134 properties currently in foreclosure. These numbers are higher than for the cities of a few sampled zip codes where there was only one complaint, such as Gold Hill, Oregon which has 4 properties in foreclosure, and Decatur, Illinois which has 6 properties in foreclosure.

The CFPB categorizes complaints into six categories: “Loan modification, collection,foreclosure” or problems when a person is unable to pay; “Loan servicing, payments, escrow account” or problems with making a payment; “Application, originator, mortgage broker”; “Credit decision / Underwriting”; “Settlement process and costs”, and “Other”. The CFPB says the complaint types indicate consumers “appear to be driven by a desire to seek agreement with their companies on foreclosure alternatives. The complaints indicate that consumer confusion persists around the process and requirements for obtaining loan modifications and refinancing, especially regarding document submission timeframes, payment trial periods, allocation of payments, treatment of income in eligibility calculations, and credit bureau reporting during the evaluation period.” Currently, 59.6% of all complaints against lenders deal with being unable to pay. 25.1% deal with problems in making a payment. 7.0% have to do with the application process.

Of the complaint-heavy zip codes, for 48382 in Commerce Township, Michigan, 98.9% of all complaints have to deal with being unable to pay. Accounting for 23.4% of all mortgage complaints in Commerce Township, 132 of the complaints for being unable to pay were made regarding Bank of America, accounting for 97.8% or all but 3 complaints against them from the zip. 121 of the Bank of America responses in Commerce Township were closed with explanation and 12 were closed with non-monetary relief. 33071 in Coral Springs is different, with 537 of the 553 complaints being categorized under other. Only 11 complaints relate to foreclosure and issues with being able to pay. 92626 in Costa Mesa, where 32% of the mortgage complaints were about Bank of America and 26.4% were about Wells Fargo, had 93.6% of its complaints dealing with being unable to pay. 5 total complaints dealt with payment issues and 3 dealt with applications.

Beyond regional variance in complaint types lodged, the top five mortgage lenders by volume of complaints all had being unable to pay as their top complaint category, ranging between 55.8% for Citibank and 69.4% for Bank of America. Problems with payment accounted for the second largest area of complaints, with Ocwen having the largest percentage of complaints at 31.9% and Bank of America having the smallest at 18.8%. Foreclosure was the top area of complaints for a number of other lending institutions including 1st Alliance Lending, OneWest Bank, Ally Bank, Banco Popular de Puerto Rico, Bank of the West, BMO Harris, BOK Financial Corp, Caliber Home Loans, Inc, Capital One, Deutsche Bank and EverBank.

Nationally, complaints reached a high of 5,840 for January 2013, 1,107 more than the next highest month of April 2013. The total emerging for September is the second lowest since records were first kept in December 2011. On a state by state level, this pattern largely repeats with a major exception for Florida which saw a peak of 849 complaints in June 2012. Then, as now, Florida was one of the top five states in the nation in its foreclosure rate. The national January spike came as the Qualified Mortgage standard required by the The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 came into play. It required mortgage lenders to take steps to insure borrowers could repay their mortgages.

Bank of America’s complaint volume follows the national trend, with a spike in January 2013 with 1,925 total complaints. Unlike nationally, the next month by volume of complaints was February of this year with 1,598 complaints. Prior to that, the highest month was May 2012 with 1,418 complaints. The lowest volume of complaints is September this year with 334.

Wells Fargo matched national trends for volume of complaints by month, with the exception of the current month being the lowest on record for number of complaints with 197 compared to the next lowest month, December 2011, when they had 221. JPMorgan’s complaint volume by month spiked in January and March of this year with 504 complaints. April of this year was the next highest month with 493 complaints, edging out May of last year with 488 complaints. September this year is on track to be the lowest month by complaint volume.

The federal government shutdown is unlikely to impact the current mortgage situation in the United States directly for most consumers, though mortgage processing by the Federal Housing Administration could be slower, resulting in fewer mortgages processed.

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Choosing The Right Cannabis Grow Medium}

Submitted by: Toby Bluntt

Using an appropriately textured grow medium is important so that cannabis roots can grow fast and strong. Roots need access to plenty of water, but grow mixes that retain water for too long may lock out air. Air is also important for roots.

Using a light, fluffy grow mix, which can hold water well, but quickly drains excess water, is best. Use either store bought potting soil, or better yet, store bought soilless mixes. Soilless mixes are made up of peat moss, perlite, and vermiculite, and they are among the most ideal mixes. All three ingredients are common in all garden stores. They are also inexpensive.

Peat moss holds water well, but may become too dense and acidic after repeated watering if used on its own. Perlite and Vermiculite help lighten dense peat moss, providing pockets for air and water. Store bought soilless mixes are usually PH balanced with lime.

These mixtures are perfect for cannabis seeds and are usually fluffier than potting soils. Light fluffy mixes are better than heavy mixes, but will need to be watered more often. If you need to mix your own, use one part peat moss, and one part perlite, or else mix equal parts of peat moss, perlite and vermiculite.

Such homemade mixes will require a small amount of fine dolomite lime to moderate PH levels. Potting soil mixes that are available in garden stores often contain fertilizer. Such fertilizer will be consumed by fast-growing marijuana within a few weeks. Also, these mixtures are not optimized for marijuana growth.

For these reasons, grow mixes with no nutritional content are preferred. This removes any unnecessary guesswork. Most soilless mixes contain no fertilizer. All is applied after by the grower. This method is easy and often cheaper than buying soils fortified with fertilizer.

Some growers are tempted to mix potting soil from their garden patches in their backyard, or dirt from underneath their lawn. Note that this is a bad idea. Pathogens, disease and other health risks are introduced this way. Store bought soilless mixes are sterilized before packaging for this reason.

Also, once grow medium has been used, it is crucial to discard it. Never use recycled potting soil or soilless mix to germinate cannabis seeds in an indoor garden.

Cannabis grown under high intensity discharge bulbs with proper nutrition tends to grow faster. They also need lots of water. As plants grow older, their need for water increases. Most growers will water their plants every two to three days. The rule of thumb for watering plants is to fully saturate the entire grow medium, and water again only after the grow medium has dried out substantially.

Grow medium, which does not dry out enough may lock out oxygen. This hampers root performance and slows plant growth. Grow mediums that remain too dry for too long can cause plants to dehydrate. Dehydrated plants are easy to spot: leaf and branches tend to become limp and hang straight down.

Dehydrated plants will quickly recover if you start providing them with enough water soon enough. However, such stress may hamper a plant’s overall growth and CBD oil production, and therefore should be prevented. If plants show any signs of dehydration, then provide them with just the right amount of water. The grower must also make sure that the entire grow medium is watered evenly.

Plants need to be misted, as well. Misting water onto leaves simulates rain and helps clean leaf surfaces of dirt and dust. You can do this once every few days, or at the grower’s leisure. However, it is best to do this shortly before or after the lights go off, so that excess moisture will dry up in the warmth.

Be careful not to spray water onto a hot High-Intensity Discharge bulb, as this may cause it to crack. Generally, most tap water is fine for Cannabis. Make sure the water is not extremely cold or extremely hot. The chlorine present in most drinking water does not seem to have any adverse effects on Marijuana growth, though some growers leave tap water in an open container for a day so that the chlorine may evaporate.

Some water, like those that come from a well, are softened with saline additives. Salt treated water is bad for plants and should not be used. Some tap water will have inappropriate PH levels as well. Check the PH of your water and make sure it’s between six and eight. Commercially available PH adjuster can be added to it to adjust its PH.

Water is also used to flush the soil of any salt build-up periodically. Salt build-up is usually caused by chemical fertilizers that are left over in the soil, or from water, which is softened using salt. Using non-saline water and not overfeeding are the best ways to avoid salt build-up.

Flushing more often won’t hurt. Flushing, or leeching, is really just an extreme form of watering. Use about two to three times as much water as the grow medium and slowly pour it over the pot. The drainage will contain most of the unused salt residues from the grow medium.

About the Author: Tony has been a cannabis writer for past 5 years, having fallen in love with the Cannabis culture whilst backpacking through Morocco. He has since written for websites like

Cannabis Plants

and

Medical Cannabis

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Spanish town council electee proposes nudist pool, marijuana field in park

Friday, June 1, 2007

A former mailman who proposed to paint the town hall pink, turn the local town square into a nudist pool, and to plant a marijuana field in the local park has been elected to the Reus, Spain town council.

Ariel Santamaria promised to show up to the town’s council meetings dressed up as Elvis Presley if he was elected and kept his word at the town’s first meeting on Thursday.

Before being elected, Santamaria who is a member of the Reus Independent Coordination, had also promised the town’s 100,000 residents that he would install a GPS system at the police department that would allow officers to track people who are smoking marijuana and provide them with a light if they need one.

An unnamed media consultant who works for Santamaria set up a website for his campaign and followed Santamaria wherever he went, dressed as a pirate.

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Tennessee closes down Christian ex-gay camp for treating mental illness without a license

Wednesday, September 21, 2005

The Tennessee state Department of Mental Health has ordered the closing of two Ex-gay ministries operated by Love In Action International Inc., a controversial Christian group that counsels gays to give up homosexuality.

The state deemed that Love in Action was “providing housing, meals and personal care for mentally ill patients without a license”. In particular, the state found that Love in Action was dispensing medication to patients without the required license.

Love in Action has repeatedly drawn fire from gay rights groups who view it as preying upon the fears of religious parents in order to make Christian ministers like Jerry Falwell and Pat Robertson seem more acceptable to the uninformed public. Gay rights advocates view such bootcamp style Ex-Gay camps as “tantamount to child abuse”. [1] [2]

Love In Action is viewed as the first modern Ex-Gay group. Its co-founder John Evans, who abandoned the ministry, feels that it has led to “nothing but shattered lives, depression, and even suicide” and suggests that “The Church has been wrong in the past regarding moral issues and I’m sure there will be more before Christ returns.”

The American Psychological Association and the American Psychiatric Association strongly affirm that “homosexuality is not an illness”, “does not require treatment” and “is not changeable.” They feel that “gay men and lesbians who have accepted their sexual orientation positively are better adjusted than those who have not done so,” and warn that people seeking conversion therapy may be doing so under pressure from religious groups. The American public is evenly divided on the question of whether homosexual orientation can be changed, according to the Pew Forum on Religion and Public Life [3].

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Ford offers US$78 million for Romanian auto plant

Saturday, September 8, 2007

Ford Motor Company, the U.S. car maker, will reportedly pay €57 million (US$78 million) for a 72.4 percent stake in the Romanian assembly plant Automobile Craiova, a Romanian official said Friday.

“The offer of Ford Motor Company for a 72.4 percent stake is €4.1556 per share or €57 million overall,” said Sebastian Vladescu, head of the State Property Agency (AVAS), after opening Ford’s improved offer. Vladescu added that the contract may be signed on September 12, during the auto show in Frankfurt.

The Romanian government bought back the Craiova-based car maker from Daewoo Motors, in late 2006 for US$51 million. As the Korean company was bankrupt, the government had to pay another $10 million for debts stemming from past loans. Ford is the only bidder for the purchase of the factory.

According to Washington Post, many auto-part makers have set up in the new European Union member country, attracted by cheap labor, favourable tax rates and the rising output of Renault’s Dacia plant. The vice president of Dacia, Constantin Stroe, said that the price Ford offers is not important. “It’s important to have the factory working as soon as possible”, he added. “With this production facility, Romania will become an important auto production center in Europe”, concluded Stroe, cited by HotNews.

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Get The Classic &Amp; Fashionable Food Trays

Submitted by: Allen Franklin

Designed for the proposes of eating, cooking, and serving food/meals, food trays is the language frequently practiced to concern to crockery, and in some illustrations crockery in the UK. The term is too applied for the description of a set of agreeing bits inclusive of the servicing bits. It is main to mark that food trays can be either casual or authoritative in nature and should be opted cautiously grounded on the affair that it will be utilized for.

food trays nowadays is typically fabricated in a assortment of materials, some of which are more advantageous to buy and expend rather than others. Again, this all counts on the case or function that it is being practiced for. The five most popular materials practiced now in food trays manufacturing are:

Durable plastics (e.g. melamine resin)

Earthenware

Glass

Porcelain

[youtube]http://www.youtube.com/watch?v=1osDxNGQaUs[/youtube]

Stoneware

It is as well of importance to build the 5 categories or typewrites of food trays within which it is grouped. These would include:

Bowls – cereal bowls, dessert bowls, and soup bowls

Plates bread plates, dinner plates, and salad plates

Mugs, saucers, and teacups

Serving dishes platters, salvers, and trays

Misc. food trays inclusive of creamers, gravy boats, and sugar bowls

food trays Purchasing Hints

Seeking for food trays can be arduous and oftentimes frustrating, whether you are Inquiring the internet or buying at from one retail merchant to some other. The miscellanea of colors, contrives, stuffs, designs, and flairs is literally continuous, which can ready your purchasing decision a troublesome one. Here are divergent Suggestions that will hopefully prepare your pursuit a little easier:

Before you ever set about your search, it is central to image that you can pay as short or as much as you desire as food trays sets range in cost from the very low-priced to the extremely overpriced. It all depends on whether you are purchasing a smooth or a conventional set. Here are some regulations of thumb involving elementary versus authoritative food trays:

? smooth food trays typically practiced for household and supporters and implements to breakfast, lunch, dinner and snacks, and is broadly more colorful.

? conventional food trays booked for anniversaries, birthdays, inspirational vacations, and other grand dinner matters and events, and is typically white or softly shaded

Decide on the important intention of your food trays. Settle if your food trays will be chiefly practiced for smooth dining or formal dining.

Insure your budget before you make out anything else. Once you have made the decisiveness between smooth or formal food trays, figure out what your budget will permit you to purchase. This is also a good time to count whether you need a food trays set for 4, 6, or 8 place settings as this will as well impact the pricing.

Conceive any extra picks when making your buy. The authoritative set usually is made up of a 4-piece place laying comprising of a bowl, dinner plate, salad plate and teacup. If other fitting bits are a considerateness, you might need to buy them straightaway so as to ascertain that your set will equate. oftentimes, delaying the buy of the equating accoutrements outcomes in not acquiring the desired bits because the manufacturer has discontinued the set, hence be conscious of this.

About the Author:

Food trays

are very stylish available at http://www.fishseddy.com

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Annual rich list shows Ireland now has six billionaires

Sunday, April 3, 2005The annual Sunday Times Rich List published today showed that Ireland now has six euro billionaires, up from four last year. The combined wealth of Irelands 250 wealthiest is €42.3bn.

Topping the list was the new entrant Hilary Weston with a fortune estimated at over €7.2bn. Weston was excluded in previous lists because the majority of her wealth was made abroad, however a rule change this year allowed the Dublin born model to enter in first place. Mrs Weston, 63, grew up in Ireland and built her modeling career there before becoming wed to Galen Weston, heir to his grandfathers multi-billion euro retailing fortune in Canada. The couple permanently moved to Canada in 1983 after a kidnap attempt by the IRA.

The top six on the list were as follows:

  1. Hilary Weston and family; €7.286bn – Retailing
  2. Sir Tony O’Reilly; €1.897bn – Food, media and inheritance
  3. John Dorrance; €1.857bn – Inheritance
  4. Dermot Desmond; €1.239bn – Finance
  5. Sean Quinn; €1.157bn – Quarries, hotels, insurance and industry
  6. Tony Ryan; €1.114bn – Airline

The iconic rock group U2 placed 10th with a combined fortune of €629m.

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Open source game developer Perttu Ahola talks about Minetest with Wikinews

Tuesday, June 30, 2020

Recently, Finnish open-source video game developer Perttu Ahola discussed Minetest, his “longest ever project”, with Wikinews.

Started in October 2010, Minetest was an attempt by Ahola to create a sandbox game similar to Minecraft. Minecraft is a multi-platform commercial game, which was in alpha version when Ahola challenged himself to create something similar to it from scratch, he told Wikinews.

Minetest is an open-source game, which is free for anyone to download and play. It is written in the C++ programming language, and the source code is available on code-hosting site GitHub. According to Ahola, Minetest attempts to run on older hardware, with limited graphics, but to be accessible to more people: those who have outdated technology, and making it available for no cost. Minecraft, on the other hand, is a paid game, currently costing USD 26.95 for its computer version. Minecraft is currently owned by Microsoft, and performs poorly on older hardware.

A correspondent from French Wikinews contacted Perttu Ahola via Internet Relay Chat a few weeks ago, discussing Minecraft. This interview is built on top of the previous interview, as we take a deeper dive into knowing more about this free game which is about to turn ten years old in a few months.

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China sentences dissident to eleven years in prison

Saturday, December 26, 2009

A Chinese court sentenced prominent democracy activist Liu Xiaobo to 11 years in prison for inciting to subvert state power, prompting international calls for his release.

A Beijing court issued the sentence Friday following a two-hour trial earlier in the week. A group of U.S. and European diplomats were among those who stood outside the court after they were barred from the courtroom.

Gregory May, first secretary with the United States Embassy in Beijing, told reporters the United States is “deeply concerned” by Liu’s sentence.

We continue to call on the government of China to release him immediately.

“We continue to call on the government of China to release him immediately,” May said, “and to respect the rights of all Chinese citizens to peacefully express their political views in favor of universally recognized fundamental freedoms, including the right to petition one’s government.” May says members of the U.S. embassy have repeatedly raised Liu’s case at high levels in Washington, D.C. and Beijing.

China has accused foreign diplomats of “meddling” in the trial. On Thursday, Foreign Ministry spokeswoman Jiang Yu stressed that Liu is a Chinese citizen and, as a result, his case is an “internal” affair.

Liu’s charge of subversion is an ill-defined one, often brought against those who voice opposition to Communist Party rule. Liu has spent time in jail or under house arrest before, especially following his early activism over the 1989 student protests in Tiananmen Square.

Along with his prison term, Liu will lose his political rights for another two years. Liu’s lawyer, Shang Baojun, said of the verdict, “We are just extremely disappointed.” Baojun says Liu plans to appeal the verdict.

Liu was detained more than a year ago after he co-authored the pro-democracy petition “Charter ’08.” Thousands of Chinese citizens signed the online document, including 38-year-old Yang Licai, one of a handful of Chinese supporters who came to the courthouse on Friday. Yang says he came to turn himself in.

Yang also says he signed Charter ’08, and since Liu Xiaobo was sentenced to 11 years for sponsoring the document, Yang felt he should receive the same treatment. After he finished speaking with reporters, police escorted Yang into a van that promptly drove away.

Many international human rights organizations are denouncing the sentence and calling for Liu’s release. International PEN, a non-profit organization devoted to freedom of expression, called Liu’s sentence “a grievous betrayal of his inalienable rights as a Chinese citizen.”

Liu is a former president of the independent China PEN Center. Larry Siems, the director of Freedom to Write and international programs at PEN American Center, says Liu exemplifies the traits that PEN values. “He’s been in his work an example of a true intellectual, someone who is true to his ideas and principles,” Siems noted, “and also as a public intellectual, someone who lives by his actions, his words, someone who’s willing to speak his mind and take the consequences.”

Siems says PEN will continue to advocate for Liu’s release.

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Radio Control Car: Showcasing Advancement Of Technology

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  • Trex 550l

We all know this very well that toys and games are such things that can make any kid happy. No matter how angry or sad they are, these things bring smile on their face and it these can keep them busy for hours. Radio control car is one among those advanced and most favorite toys for children. It showcases the advancement of technology in the finest way.

Previously there were no such hi-tech toys were there. Children used to play with simple toys but gradually with the advancement of era, large number of such hi-tech toys has come in the market. The radio control car is one of the examples of such development. You can find variety of designs and pattern of this car available in the market. Starting from a low cost to a very high one are present in the market. As per the efficiency of your pocket you can get one for your kid and make him happy.

If you look around the market you can get radio control fast racing car model, 1:6 off radio remote controlled monster truck car, 1:30 8CH crawler type model toy remote control crane, F1 radio control fast kart racing model car, mini racer four channels remotely controlled cars, lucky boy super wall climber IR remote control car and many more. Apart from the above mentioned ones, you can get many other radio control car too embedded with n numbers of advanced features and functions that you have never ever imagined.

Just by sitting on a particular position, your child can control the radio control car with the help of a remote available with it. The buttons on the remote let you control the direction that where you want to take turn. Whenever you want to stop it you can do it with an ease with the help of the buttons present on it. The speed can also be controlled as per your wish. There are many more features available that you can only explore after getting one from the market.

These days, many online shopping portals have come up that deal in these kinds of toys. DinoDirect is one among those online portals from where you can get the radio control car with huge discounts and lots of exciting offers. We have a huge variety of models to choose from that you can get by spending a little amount from your pocket. So hurry and visit us soon to grab the best.