Late-Stage Delinquencies are Surging, Especially Those With FHA Loans
"The overall rate of loans 30 or more days past due increased during the second quarter to a seasonally adjusted 8.22 percent of all outstanding one-to-four-unit mortgages. This was up 386 basis points (bps) from the first quarter of the year and 369 bps year-over-year. MBA includes loans in forbearance in its delinquency numbers."
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Mortgage delinquencies are generally accompanied by not paying HOA and condo assessments, which is bad news. Banks can survive these situations a lot better than associations that operate on a shoestring budget and have no source of income but assessments.
Tuesday, August 25, 2020
Sunday, August 23, 2020
Steve Bannon Arrested on Superyacht Owned by Chinese Billionaire – Robb Report
Steve Bannon Arrested on Superyacht Owned by Chinese Billionaire – Robb Report
"[Guo] Wengui, an exiled Chinese billionaire, has business ties to Bannon. He was not arrested yesterday, but there are warrants out for his arrest in Beijing, where authorities have accused Wengui of crimes including bribery, kidnapping, money laundering, fraud and rape. He fled to the U.S. in late 2014 and lives in self-imposed exile in Manhattan. He is also a member of President Trump’s Mar-A-Lago club in Florida."
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Guo Wengui is a great example of Privatopia. He is essentially stateless by choice, a citizen of nowhere who moves through a world of private institutions and private wealth, protecting his wealth from taxation and living above the civil and criminal laws of all nations. And here is Steve Bannon, Mr. Nationalism, the architect of Trump's nativist-themed campaign, palling around with him. The hypocrisy is pretty obvious. Most of Trump's anti-government, pro-privatization moves have been scams of some sort. Bannon's fake border wall-building fund raising was a scam. The effort to destroy the US Postal Service is another.
"[Guo] Wengui, an exiled Chinese billionaire, has business ties to Bannon. He was not arrested yesterday, but there are warrants out for his arrest in Beijing, where authorities have accused Wengui of crimes including bribery, kidnapping, money laundering, fraud and rape. He fled to the U.S. in late 2014 and lives in self-imposed exile in Manhattan. He is also a member of President Trump’s Mar-A-Lago club in Florida."
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Guo Wengui is a great example of Privatopia. He is essentially stateless by choice, a citizen of nowhere who moves through a world of private institutions and private wealth, protecting his wealth from taxation and living above the civil and criminal laws of all nations. And here is Steve Bannon, Mr. Nationalism, the architect of Trump's nativist-themed campaign, palling around with him. The hypocrisy is pretty obvious. Most of Trump's anti-government, pro-privatization moves have been scams of some sort. Bannon's fake border wall-building fund raising was a scam. The effort to destroy the US Postal Service is another.
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