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, March 17, 2018

In the United States, autopsy results were released on Thursday by the Napa County Sheriff’s Office, which show that Albert Wong killed himself after shooting his three hostages at The Pathway Home veterans’ psychiatric center in Yountville, California last Friday. The hostages died instantly from rifle shots to the head, and Wong shot himself in the head with a shotgun. Officials said there was no indication any of the four was killed by a sheriff’s deputy who exchanged shots with Wong.

The Sheriff of Napa County also acts as the county coroner. According to the official report, the three hostages “all suffered immediately fatal head wounds caused by a high velocity projectile consistent with the rifle that the shooter, Albert Wong, used in this incident”. Wong’s fatal head wound was self-inflicted. Sheriff’s Captain Steven Blower clarified that neither Wong nor the hostages was shot by the deputy.

According to authorities, Wong, a former Pathway resident, drove a rented car to the center Friday, March 9, and shortly after 10 AM local time (UTC-8), dressed in black and armed with a semi-automatic rifle, took five of the people at a leaving party hostage. The first call to the emergency 9-1-1 number was made at about 10:20. About ten minutes later, shots were heard, and a sheriff’s deputy and Wong exchanged fire. Wong then shut himself in a room with three of the hostages. The campus was evacuated, but there was no further contact with Wong. A little before 6 PM, a video feed from a remote-controlled robot showed the four people in the room were probably dead.

The three victims were all women. Christine Loeber, 48, was the executive director of the home. Jen Golick, 42, was its clinical director. Jennifer Gonzales Shushereba, 36, was a psychologist on the staff of the San Francisco Department of Veterans Affairs Healthcare System and also worked with PsychArmor, a nonprofit group, to create a toolkit for college campuses to assist students with post-traumatic stress disorder (PTSD). She was entering her last trimester of pregnancy.

Wong, 36, was a decorated veteran who served in the infantry in Afghanistan for a year in 2011–2012. He had been in treatment at the center for about a year but had been expelled two weeks before the hostage-taking because knives were found in his possession. His brother Tyrone Lampkin told The Press Democrat, Wong had been angry and said he “wanted to get back at them”, but what he had mentioned was to “talk to them, yell at them, not to kill them”.

The Board of Directors of The Pathway Home announced on Wednesday that it would suspend operations “indefinitely”. It is a ten-year-old non-profit in-patient center treating veterans with PTSD, brain injuries, depression and addictions on the campus of the Veterans Home of California Yountville. Yountville is a small town in the wine country a little more than 50 miles north of San Francisco. Founded as a last-resort center for intensive treatment of veterans who had not been helped by other approaches, it transitioned in 2015 to providing care to those not yet in crisis, including veterans studying at Napa Community College. The Veterans Home is the largest in the United States, with more than 900 residents.

Friday, October 5, 2007

Richard Roberts, the President of Oral Roberts University, and his wife, Lindsay Roberts, are accused of illegal political contributions, financial wrong-doing, and wrongful firings in a lawsuit filed Tuesday.

The lawsuit was filed by three former professors who claim “they were wrongfully dismissed after reporting the school’s involvement in a local political race.” According to KTEN television news, “Roberts’ statement says personal expenses are charged to him and he personally pays them on a monthly basis.” On October 3, Roberts “told students and faculty during his weekly chapel Wednesday that the lawsuit is about intimidation, blackmail and extortion.”

Richard has been president of ORU since his father, Oral Roberts university founder and former faith healer, “semi-retired” in 1993.

Monday, October 30, 2006

On November 13, Torontoians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is Etobicoke Centre (Ward 3). One candidate responded to Wikinews’ requests for an interview. This ward’s candidates include Doug Holyday (incumbent), Peter Kudryk, Lillian Lança, and Ross Vaughan.

For more information on the election, read Toronto municipal election, 2006.

Tuesday, November 18, 2014

Yesterday evening saw the Usher Hall in Edinburgh host a meeting between representatives of the City of Edinburgh Council (CEC) and the local rock and pop music scene. The meeting was dominated with local musicians’ complaints over the “zero tolerance” policy Edinburgh is viewed as having adopted towards amplified music.The meeting began with the leading panel — Norma Austin Hart, vice-convener for Culture and Sport; John Stout, promoter from Regular Music; Kevin Buckle, of local store Avalanche Records; and Karl Chapman, manager of the Usher Hall — introducing themselves and outlining the purpose of the meeting. This being best-summarised as a desire to emulate the vibrant music scene of places as far-flung as Austin, Texas and Sydney, Australia.

Councillor Hart indicated officials from Austin had already offered to get involved in improving the live music scene in the city; although none were present from Austin, US-born local musician Pat Dennis provided his frank opinion on where Edinburgh fails to nurture the local music scene: that failure to support a grass-roots, small venue, music scene prevents the city being capable of organising events similar to Austin’s South by Southwest festival outwith August, when Edinburgh hosts the Festival and Fringe.

Coming in for the lion’s share of criticism, staff from CEC’s Licensing Board were visibly uncomfortable when the topic of the “single complainant” was brought up time and time again. Unlike any other business within the city, or residential properties, noise pollution within premises permitted to sell alcohol is not managed by environmental health staff. That responsibility is bundled with the alcohol license, which leaves publicans fearful that their premises will be forced to close if they do not comply with demands to cease use of any amplification, or hosting live music. This was characterised as a ‘tyranny of the minority’, a most-undemocratic approach where one person — for example, recently moved into a property adjacent to a long-established premises hosting live music — could force the closure of a business which has hosted local talent for 30+ years.

Taking heed of the strength of feeling from the majority present, Councillor Hart made a number of personal commitments towards the end of the meeting. Those included setting up a working group, Music is Audible, to look at how the council could better work with venues, and to have a follow-up meeting in March next year.

Sunday, April 23, 2006

The United States Congress is currently drafting a bill known as the Communications Opportunity, Promotion, and Efficiency Act of 2006 that would revise and update the 1996 Telecommunications Act. Currently phone and cable lobbyists who own the broadband networks, such as those from AT&T and BellSouth, are calling on the federal government to permit them to operate Internet and other digital communications services as private networks. The bill as it now stands states that certain classes of Internet providers “may not unreasonably” impair, interfere, restrict or limit applications or services, such as Web sites or voice-over-IP phone connections.

Consumer advocates such as Common Cause and some large Internet companies such as Google and Yahoo are concerned that this change will result in a loss of what is being called network neutrality, and are demanding specific language in the bill to address it. Three weeks ago, the House Subcommittee on Telecommunications rejected an amendment to the bill that would have strengthened provisions for network neutrality. The amendment was defeated by a vote of 28 to 8.

Network neutrality is a principle of computer networking that describes networks designed so that no communication, application, or service is either given preferential treatment or restricted.

Advocates of network neutrality fear that allowing broadband networks to operate unregulated could lead to preferential treatment toward certain companies at the expense of others. Phone companies who oppose network neutrality legislation contend that some mechanism needs to be in place in order to pay for expansion of the public Internet.

Edward Whitacre, AT&T’s chief executive officer, had made remarks on the issue that consumer groups found inflammatory. In remarks made on November 7, 2005, presumably referring to Internet sites using their network connections, he called for “some mechanism for these people who use these pipes to pay for the portion they’re using. Why should they be allowed to use my pipes?”

Whitacre has since reversed his public statements, saying on March 21, 2006, “Any provider that blocks access to content is inviting customers to find another provider. And that’s just bad business.”

Federal Communications Commission chairman Kevin Martin believes that the FCC already has the authority to enforce network neutrality provisions, citing a North Carolina case in which the FCC acted against Madison River Communications for blocking Vonage VoIP phone service.

Representative Fred Upton from Michigan, chairman of the Telecommunications and the Internet Subcommittee, describes the bill as a way to “ignite the marketplace — unleashing great advances in technology and delivering to consumers a variety of new services at a lower cost that were once never even imagined. Every consumer in the nation with a telephone, television and access to the Internet will be better for it — the wave of the future is now.”

Michael Copps, a FCC Commissioner, said recently, “This Internet may not be the one we know in the future there are threats to it out there… Entrenched interests are already jockeying to constrain the openness that has been the Internet’s defining hallmark.”

A recent poll done by The Consumer Federation of America (See source 5) shows that the Internet has taken on an important role in the daily life of Americans. With two-thirds reporting it is important for personal communications and researching products, over half said it is important for getting news and, about 40 percent cited online banking, e-commerce, and retrieving government information as significant ways in which they used the internet. They expressed a great deal of concern about discriminatory practices of communications network operators.

The revision of the 1996 Telecommunications Act was proposed by House Energy and Commerce Committee Chairman Joe Barton, R-Texas, and U.S. Rep. Bobby Rush, D-Ill., in late March and went on to the full committee on April 5.

Monday, March 30, 2009

First becoming famous in her native Ukraine in the 1990s, long-haired self-described “Amazon” Ruslana gained international recognition for winning the 2004 Eurovision Song Contest with her song “Wild Dances,” inspired by the musical traditions of the Hutsul people of the Ukrainian Carpathian Mountains.

In the five years since, Ruslana has decided to use her name and public status to represent a number of worthy causes, including human trafficking, renewable energy, and even the basic concept of democratic process, becoming a public face of Ukraine’s Orange Revolution and later serving in Parliament.

Currently, she is on an international publicity tour to promote her album Wild Energy, a project borne out of a science fiction novel that has come to symbolize her hopes for a newer, better, freer way of life for everyone in the world. She took time to respond to questions Wikinews’s Mike Halterman posed to her about her career in music and her other endeavors.

This is the fifth in a series of interviews with past Eurovision contestants, which will be published sporadically in the lead-up to mid-May’s next contest in Moscow.

Tuesday, April 22, 2014

Coinciding with Easter Sunday, Glasgow Cannabis Social Club’s annual 420 event was held on Glasgow Green, under sunny blue skies, and overlooking the river Clyde. Despite the city’s council attempting to revoke permission for the gathering at the last minute, police were happy for it to go-ahead with approximately a dozen officers attending in high-visibility vests.

The Daily Record reported five arrests were made for minor offences, likely smoking and possession of small quantities of cannabis. Taking a less-sensational — and more accurate — line of reporting, the Monday edition of Glasgow’s Evening News stated five were referred to the Procurator Fiscal who is responsible for deciding if charges should be brought.

Official figures provided by the police were that 150 attended. With people coming and going, Wikinews reporters estimated upwards of 200 attended, compared to nearly 700 who had signed up for the event on Facebook. Hemp goods were advertised and on sale at the event, and some attendees were seen drinking cannabis-themed energy drinks.

“I was searched and charged under the Misuse of Drugs Act (which is a lot of bollocks)” one attendee noted online, adding “not fair to happen on a brilliant day like it was, other than that I had a great day!” A second said they were openly smoking and ignored by police, who “were only really focusing on people who looked particularly young”.

Cannabis seeds were openly and legally sold at the event and a hydroponics supplier brought a motortrike towing an advertising trailer. Actually growing cannabis is, however, illegal in the UK.

With the event openly advocating the legalisation of cannabis, speakers put their arguments for this to a receptive crowd. Retired police officer James Duffy, of Law Enforcement Against Prohibition, spoke of the failed United States alcohol prohibition policy; stressing such policies needlessly bring people into contact with criminal elements. Highlighting other countries where legalisation has been implemented, he pointed out such led to lower crime, and lower drug use overall.

One speaker, who produced a bottle of cannabis oil he had received through the post, asserted this cured his prostate cancer. Others highlighted the current use of Sativex by the National Health Service, with a cost in-excess of £150 for a single bottle of GW Pharmaceuticals patented spray — as-compared to the oil shown to the crowd, with a manufacturing cost of approximately £10.

Similar ‘420’ pro-cannabis events were held globally.

Thursday, November 29, 2018

On November 17 and November 18, Wikinews attended the 2018 Bangalore Comicbook Convention, in Karnataka, India. Beginning on Saturday morning, the ComicCon continued till Sunday. Organised by ComicCon India, who organised Comic Con in Hyderabad in October, this event was held at Karnataka Trade Promotion Organisation (KTPO)’s convention hall. Wikinews spoke to convention’s international guests Ryan O’Sullivan, Dan Watters, and Vanesa Del Ray.

UK-based freelancer comicbook writer Ryan O’Sullivan, who has worked for Image Comics and Vault Comics, and wrote video game comics including Eisenhorn, Warhammer 40,000, and Dark Souls, was one of the guests attending ComicCon. Along with him, London-based freelance comic book writer Dan Watters was also one of the attendants. Watters has worked with Image Comics on Limbo, as well as Lucifer for Vertigo Comics. Watters has also written comics for Assassin’s Creed, Wolfenstein and Deep Roots. Cuban comic book artist Vanesa Del Rey was also one of the guest attendants, who has illustrated Scarlet Witch, Daredevil Annual, and Spider-Women Alpha for Marvel Comics; and Redlands for Image Comics.

The convention started at 11 AM. Crossing between the genres of science fiction, horror, anime, fantasy and comics, the event sprawled throughout all corners of the facility. Marvel Zone, Amazon Video zone, AXN Live RED Special Session, Warner Bros’ Aquaman and Fantastic Beasts: Crimes of Grindelwald experience, and Sony Pix zone attracted large number of audience.

On day two, Sumit Kumar, creator of Chin Chin, inspired by Chacha Chaudhary and Tintin, had a panel in the afternoon.

At 1:30 PM, there was a video presentation by Yali Dream Creations. The video was about The Village. Yali Dream Creations’ Shamik Das Gupta said the story of their comic The Village is “supernatural, social, horror”. Later, there was another presentation about their other comic, Rakshak ^{((hi))Hindi language: ?Protector} — A Hero Among Us, about a masked vigilante in India. The first part of the four-part comic was released in 2016’s Delhi ComicCon, Gupta said. Gupta also added “Delhi gang rape story pushed me”. The session ended around 1:45 PM.

After Yali Dream Creations, there was a comic launch by Rahil Mohin. Mohin had previously launched Sufi Comics in 2008, The Wise Fool of Baghdad and two comics about Persian poet Rumi and now Blame it on Rahil. While he was on the panel, he was sketching cartoon, while the host was asking questions that Mohin had prepared, focused on the 90s cartoon themes. The questions were “[What was the] breed of Courage the Cowardly Dog?”, “Catchphrase of Flintstone”, and “Arch nemesis of Dexter”. His session finished by 2 PM.

At 2 PM, there was a session with AXN, and questions about AXN shows. Musician Shrey also played scores of various AXN shows on guitar, which audience had to guess. At 2:30 PM, there was a session with Cuban comic artist Vanesa Del Rey. She said it was her first convention in India, and said, “It is like any major convention in the US”. This year, Vanesa Del Rey was nominated for an Eisner Award. During the discussion, she said she wanted to do sci-fi epic,romance, mystery and thriller comics in future. Regarding romance genre in comics, she said it is “something worth exploring”. And regarding her career choice, she said her grandmother was an artist and her “family was very supportive”.

Later, there was a session with Sony PIX, with Minions appearing on the stage.

The event finished around 8 PM.

Sunday, December 19, 2010

This month is set to be one of the coldest ever recorded in the United Kingdom, as snow leads to millions of people’s travel plans disrupted.

One person at London Heathrow Airport said the grounding of aircraft, and disruption to rail services, had created “the Christmas from hell.” On one of the busiest weekends for travellers of the year, Heathrow and Gatwick Airports closed their runways and roads countrywide became impassable.

One person has already died this weekend after the ambulance he was being treated in crashed in Eastbourne, East Sussex. Meterologists warn that the conditions are unlikely to recede soon, adding that this month is set to be one of the coldest on record. Britain is not alone in Europe; airports in Germany, Italy, France and the Netherlands are similarly affected.

Wikinews today reports from the village of Flackwell Heath, Buckinghamshire, England, where villagers were buying essentials from the local supermarket, and roads were covered in six inches of snow. Wikinews journalist Paul Wace reported that councillors pledged to grit major routes, but the main road through the village was covered in a slushy mix of snow and grit, making travel extremely difficult.