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Foreclosure Trends on the Horizon

first_imgHome / Daily Dose / Foreclosure Trends on the Horizon Foreclosure Trends on the Horizon Subscribe in Daily Dose, Featured, Market Studies, News About Author: Radhika Ojha June 26, 2018 4,221 Views Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Demand Propels Home Prices Upward 2 days ago Related Articles Previous: The Best Places to Live, Depending on Your Profession Next: The Industry Pulse: Updates on Freddie Mac, Ocwen, and More Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Postcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Tagged with: Affordability Carrington Mortgage Holdings Delinquency Existing Home Sales Foreclosure Home Home Prices Home Sales HOUSING Housing Bubble Interest Mortgage Rates New Home Sales Supply Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago A strong economy that drove the housing demand beyond the availability of supply defined the first half of 2018 for the industry, according to a Carrington Mortgage Holdings webinar giving a mid-year snapshot of the housing market in 2018 while delving into the question of whether the market was headed for another bubble and foreclosure crisis.Looking at the foreclosure market, Carrington said that the remnants of the foreclosure crisis were concentrated in a few states and fewer foreclosures were going to REO. Looking at the rest of the year, Sharga said that the market could end the year with historically low levels of mortgage delinquencies. “However we need to make sure that lenders don’t get out over their skis again as it becomes more and more challenging to write loans in a relatively low refi market,” he cautioned. “It’s worth keeping an eye on the FHA portfolio also as their delinquency rates have gone up a bit even though they are at the low end of their historic rates.”Looking at the second half of the year, Rick Sharga, EVP, Carrington Mortgage Holdings, who presented the webinar said that the balance of 2018 looked like a mixed bag. “The triple problems of limited inventory, home price appreciation, and rising rates are likely to keep existing home sales from being as strong as they should be,” he said. “Prices are going to continue to rise as are interest rates.”Carrington projected the 30-year fixed-rate loan rates to end 2018 at 5 percent and home prices to rise 5-6 percent by the end of the year. While the forecast projected existing home sales to end the year at around 5.5 million, it said that new home sales would end at around 650,000.The webinar also delved into the question of whether the market was heading into an affordability crisis or a housing bubble again. Explaining the characteristics of a housing bubble, Sharga said that prices rise beyond any rational explanation, followed by a plummet were classic symptoms of a housing bubble.Home price appreciation has significantly outpaced wage growth throughout the recovery from the Great Recession and economists are beginning to identify multiple metro areas that have higher-than-average house-price-to-income-ratios according to Carrington. Additionally, lending standards appear to be loosening.And even though market indicators did show signs of heating up, Sharga said that looking at all indicators as a whole, a bubble doesn’t seem to be a likely possibility. “From my perspective, we’re not in a housing bubble,” Sharga said. “Prices can’t continue to outpace wage growth by 2-3 times indefinitely. Although one-third of metros appear to be overpriced, on a national basis, home values are certainly not in bubble territory yet.” Affordability too was better than it looked, though it was weakened. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Affordability Carrington Mortgage Holdings Delinquency Existing Home Sales Foreclosure Home Home Prices Home Sales HOUSING Housing Bubble Interest Mortgage Rates New Home Sales Supply 2018-06-26 Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

NHS supplier faces court

first_imgCourt give trust go-ahead to name NHS Supplies Authority as co-defendant inlatex gloves court caseThe NHS Supplies Authority is likely to be sued in a chain of damages claimsinitiated by a nurse who says she can no longer work because of latex gloveallergy. In one of about 50 claims currently in motion, the courts have for the firsttime given leave for an NHS trust to name the authority as a co-defendant.Essex Rivers Healthcare Trust has until the end of the month to take up theopportunity. “This is very significant,” said Graham Johnson, professionaldevelopment manager for MTL Medical Services and an expert witness in a numberof latex glove cases. “It will be the first time the authority has beenbrought into the courtroom. “Currently a hospital can ask the NHSSA to send gloves that are knownto be inherently dangerous. The NHSSA argues that since there is a market forthese gloves it must offer them. But the same could be said for Semtex. Theauthority owes a duty of care to the trusts it supplies.” Karen Heyhoe, the registered general nurse bringing the case against EssexRivers, said, ‘The Supplies Authority has a huge case to answer. The healthauthority does rely on it for the best deal and cost-effectiveness. If it isgoing to supply these gloves it should be doing research as well into theirsafety.” The NHSSA catalogue continues to offer powdered latex examination andsurgical gloves despite warnings from the Medical Devices Agency about thepotential risks of allergens released by both the powder and the latex proteinsused in some gloves’ manufacture. About 80 per cent of trusts no longer use thegloves. Last month, in an out-of-court settlement, an unidentified trust paid£30,000 in compensation and offered re-employment to a healthcare worker itdismissed in 1997 because of glove-related ill-health. Daniel Bennett, solicitor with Leigh, Day & Co which is acting for 10latex allergy sufferers, said most of the trusts in question are eitheradmitting or declining to challenge liability. “We are able to demonstrate between 15 and 20 breaches of statutoryduty,” Bennett said. “It is clear from the documentary evidence thathealth trusts were not and are still not assessing the risks under the PersonalProtective Equipment at Work regulations, nor are they doing risk assessmentsrequired under the COSHH regulations. These failures are making it very easy towin these cases.” Next Article Comments are closed. NHS supplier faces courtOn 1 Jan 2000 in Personnel Today Related posts:No related photos.last_img read more