Monthly Archives: February 2021

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.

Saturday, April 30, 2005

The British Food Standards Agency (FSA) has announced a recall of foods containing banned dyes which increase the risk of cancer. The food products were sold at the Tesco, Waitrose, and Somerfield supermarkets.

A Bristol company called “Barts Spices” found the illegal Para Red substance in their Barts Ground Paprika, which was sold in 48g and 46g jars with a “Co-op” label. The batch codes on the affected products are 5032 and 5089 (expiration Dec 2007), and 5075 (expiration February 2007).

Tesco also found that their 130g package of BBQ rice cakes (expiration November and December 2005) contained both Para Red and Sudan I.

“It would be very prudent to assume that it could be a genotoxic carcinogen,” FSA scientific advisers told reporters.

“As a company committed to supplying only the very finest quality food ingredients, we took the immediate decision to withdraw our ground paprika spice from all outlets selling the product and advertised a product recall in the national press,” a Barts Spices spokesman said in a statement.

Sudan I is only authorized for industrial use to colorize petroleum products, such as shoe polish. Para Red and Sudan I are banned under the British Colours in Food Regulations of 1995.

Britain last went through a major food recall in February, when Worcester Sauce was found to contain chili powder dyed with Sudan 1.

Saturday, April 28, 2012

United States political consultant and gay rights (LGBT) activist Fred Karger of California took some time to discuss his Republican Party presidential campaign with Wikinews reporter William Saturn. Karger holds the distinction as the first openly gay person to seek the presidential nomination of a major U.S. political party.

Before entering electoral politics, Karger worked as an adviser for such prominent Republicans and former U.S. Presidents Gerald Ford, Ronald Reagan and George H. W. Bush. Since retiring as an adviser in 2004, he has been involved in LGBT issues: opposing California Proposition 8, which banned same-sex marriage in the state; and leading investigations of such same-sex marriage opponents as the National Organization for Marriage (NOM) and the The Church of Jesus Christ of Latter-day Saints (The Mormon Church).

In 2010, Karger first announced his intentions to seek the Republican presidential nomination, but did not officially announce until March 2011. One of his early campaign goals was to participate in a GOP presidential debate, but was never invited due to polling thresholds. However, Karger argued that he did meet the requirement for an August debate, but was still excluded after the organizers deemed polls he cited as inadequate.

So far, Karger has appeared on four Republican primary ballots including Puerto Rico, where he was able to top Congressman Ron Paul, who, at the time was one of the four major candidates in the race. Karger will next appear on the ballots in California on June 5, and in Utah on June 26.

Karger brands himself as “a different kind of Republican” that wants to open the party to outsiders. He backs gay marriage, is pro-choice on abortion, and wants to lower the voting age. However, he also holds some traditional Republican views: he favors a strengthening of the private sector and believes the U.S. should be steadfast in its support for the nation of Israel.

In talking to Wikinews, Karger discusses his personal political background and activism, the 2012 presidential election and his GOP campaign, as well as his political views on both domestic and foreign affairs.

Wednesday, February 1, 2006

United States President George W. Bush delivered his annual State of the Union Address on Tuesday.

Monday, November 19, 2007

Drag—dressing in the clothing atypical of your born gender—in recent years has found mainstream success. Films such as Priscilla, Queen of the Desert, Midnight in the Garden of Good and Evil and To Wong Foo, Thanks for Everything! Julie Newmar have prominently featured drag performers. But they have all focused on men in drag as women.

Murray Hill is a comedian, emcee and performer. He is also a drag king. Called “The Hardest Working Middle-aged Man in Show Business”, The New York Times christened him “the current reigning patriarch of the downtown performance community.” He is seemingly everywhere, emceeing a bingo night at the now closed, Jimmy Fallon-backed Mo Pitkins’ House of Satisfaction on Avenue A, or hosting the Polyamorous Pride Day in Central Park. Hill has become a legend in New York’s “anything goes” counterculture theater scene who is beginning to find mainstream success; which would be a first for a drag king.

David Shankbone’s examination of New York City‘s culture has brought him to the whip’s end of a BDSM dungeon, on the phone with RuPaul, matching wits with Michael Musto, grilling Gay Talese, eating dinner with Augusten Burroughs and quizzing the bands that play the Bowery Ballroom. In this segment he talks to downtown legend Murray Hill, former New York City mayoral candidate and comedian, on the last night of Mo Pitkins’ House of Satisfaction.

Saturday, March 14, 2009

At the Saskatchewan Association of Rural Municipalities (SARM) conference, a resolution was passed that encourages the Government of Saskatchewan, Canada to place a moratorium on specialty livestock farms raising wild boar. All wild boars that have escaped to roam wild should be killed, according to the resolution.

Agriculture Minister Bob Bjornerud endorses a ban on wild boar farming. The wild boar population is expanding exponentially. There are over 2,000 feral Sus scrofa swine roaming the prairies. Two litters of approximately 12 piglets are sired by each wild boar sow every year. The Saskatchewan Wildlife Federation (SWF) likewise passed a similar resolution at their 79th annual convention to urge the Saskatchewan Government to declare the wild boar as a nuisance species which can be killed on sight.

3% of farmed “wild” boars escape. Cells of wild boars are ravenous creatures killing and eating everything in their path. Horses, cows, and other livestock run from wild boars, breaking through fences in the process.

Ostriches, emus, llamas, alpacas, reindeer, wild boar, and fallow deer were amongst the animals introduced to farms in Saskatchewan during the agricultural diversification program in the late 1970s. Production of wild boars was promoted throughout the 1980s.

According to the Saskatchewan Agriculture and Food 2001 statistics, there were 150 wild boar producers raising approximately 15,000 and 20,000 head. Of these there were about 2,700 sows. On the 2006 Census of Agriculture, 401 farms reported 4,926 boars.

The boar’s red meat is an export commodity to Europe and Asia. The live breeding stock are also sold to trophy hunt ranches. Full blooded wild boar and hybrid crosses are raised.

Thursday, January 14, 2010

Wikinews interviewed author Nancy Many about her book My Billion Year Contract, and asked her about life working in the elite Scientology group known as the “Sea Org“. Many joined Scientology in the early 1970s, and after leaving in 1996 she later testified against the organization. Published in October, Many’s book has gone on to become one of the top selling new books on Scientology at Amazon.com.

Wednesday, February 5, 2020

On Sunday in London, England, according to witness accounts and authorities, a man wearing a fake suicide vest entered a store, grabbed a large knife, ran outside with it and began to stab people. Reportedly he injured a man and two women on Streatham High Road, London. Armed plainclothes officers, already surveilling him for counter-terrorism purposes, chased him on foot. The officers eventually shot him dead, reportedly outside a Boots store, at around 14:00 local time in what the police declared a “terrorist-related” attack.

An eyewitness described for news agency PA Media how the attack unfolded, stating, “I was crossing the road when I saw a man with a machete and silver canisters on his chest being chased by what I assume was an undercover police officer […] The man was then shot. I think I heard three gunshots but I can’t quite remember.”

Two women and a man were injured, according to the reports. The man was briefly listed in critical condition. A woman had minor injuries reportedly from glass shattering after police discharged their firearms, and the remaining woman was in “not life-threatening” condition.

The attacker, identified as Sudesh Amman, 20, was placed under police surveillance after being released from prison a week ago. He was imprisoned in 2018 when he was 18 and served half his sentence for 13 separate terror offenses. Amman, who was described as “knife-obsessed” by the police, sent his girlfriend videos of beheadings and extremist text messages, and advised her to kill her “kuffar” (non-Muslim) parents. He told her on one occasion: “If you can’t make a bomb because family, friends or spies are watching or suspecting you, take a knife, molotov, sound bombs or a car at night and attack the tourists (crusaders), police and soldiers of taghut [idolatry], or western embassies in every country you are in this planet.”

Alexis Boon, the head of the Metropolitan Police Counter Terrorism Command, said about Amman: “His fascination with dying in the name of terrorism was clear in a notepad we recovered from his home. Amman had scrawled his ‘life goals’ in the notepad and top of the list, above family activities, was dying a martyr and going to ‘Jannah’ — the afterlife. It’s not clear how Amman became radicalised but it is apparent from his messages that it had been at least a year in development. Whatever the circumstances, this case is a reminder of the need to be vigilant to signs of radicalisation and report it.”

Police also recovered a bomb-making guidebook in his position and, on investigation in his family home in London, a black flag and an air gun.

The mayor of London, Sadiq Khan, thanked “the police, security and emergency services staff for their swift and courageous response”.

“Terrorists seek to divide us and to destroy our way of life,” said Khan, “here in London we will never let them succeed.”

The prime minister, Boris Johnson, tweeted: “Thank you to all emergency services responding to the incident in Streatham, which the police have now declared as terrorism-related. My thoughts are with the injured and all those affected.”