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» VISIT US ONLINE @ DSNEWS.COM 77 Maine RANK: 5 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate SEPTEMBER 2014 2.55% 3.64% 5.8 YEAR AGO 2.52% 5.14% 6.6 YEAR-OVER-YEAR CHANGE 1.0% -29.3% -0.8 Top County SOMERSET COUNTY 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 4.31% 7.66% YEAR AGO 3.90% 8.85% YEAR-OVER-YEAR CHANGE 10.7% -13.4% Top Core-Based Statistical Area LEWISTON-AUBURN, ME 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 3.28% 5.61% YEAR AGO 3.27% 6.85% YEAR-OVER-YEAR CHANGE 0.3% -18.0% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2014 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2014 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Maryland RANK: 8 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate SEPTEMBER 2014 2.72% 2.31% 6.3 YEAR AGO 3.39% 3.64% 6.5 YEAR-OVER-YEAR CHANGE -19.7% -36.5% -0.2 Top County CAROLINE COUNTY 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 4.54% 4.81% YEAR AGO 5.41% 6.49% YEAR-OVER-YEAR CHANGE -16.1% -25.8% Top Core-Based Statistical Area CAMBRIDGE, MD 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 3.44% 4.37% YEAR AGO 3.34% 7.08% YEAR-OVER-YEAR CHANGE 3.1% -38.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2014 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2014 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Maryland Foreclosure Activity Jumps in Q3 Maryland saw a spike in foreclosure activ- ity in the third quarter that gave it the second highest foreclosure rate in the nation behind only Florida, according to RealtyTrac's ird Quarter 2014 Foreclosure Report. One in every 204 residential housing units in Maryland reported a foreclosure filing (which includes default notices, scheduled auctions, and bank repossessions/REOs) for the third quarter. Only Florida, with one foreclosure filing for every 153 housing units, had a higher foreclosure rate in the quarter. It was the ninth consecutive quarter in which Maryland saw a year-over-year increase in foreclosure filings, which declined by 16 percent year-over-year but inched upward by 0.42 percent from the previous quarter, according to RealtyTrac. Maryland also saw substantial quarter- over-quarter increases in scheduled fore- closure auctions and REO activity for Q 3, according to RealtyTrac. e Old Line State saw a 30 percent increase in scheduled fore- closure auctions in the quarter, which was the second largest increase of any state. Michigan had the largest increase at 34 percent. Sched- uled foreclosure auctions increased from Q2 to Q 3 in 32 states, RealtyTrac reported. Scheduled foreclosure auctions increased in the third quarter by 7 percent from the second quarter, but dropped slightly by 1 percent from Q 3 2013. e rate at which lenders repossessed residential properties (REO activity) jumped by 19 percent in Maryland from Q2 to Q 3, which was the second highest quarterly increase of any state, according to Realty- Trac. Maine had the highest increase with 24 percent. REO activity was way down nationwide, falling 12 percent from Q2 to Q 3 and increasing in only seven states. REO activity declined by 38 percent from the same period in 2013. Maryland Charter Bank Shuts Down After nearly three months without a fail- ure, another FDIC-insured institution went down in late October. e Office of the Commissioner of Financial Regulation in Maryland shut down NBRS Financial, based in Rising Sun, ap- pointing FDIC as receiver, according to dual releases from both agencies. Chartered as a national bank in 1880, NBRS converted to a Maryland charter in 2002. Following the financial crisis of last de- cade, the bank took years of losses from non- performing assets and was never able to find enough capital to return to sound condition, said Acting Commissioner Gordon Cooley of the state's financial regulation office. Despite the bank's collapse—Maryland's second so far this year—Cooley said that "the state banking system remains safe and sound." To protect depositors of the failed institution, FDIC announced a purchase and assumption agreement with Howard Bank, based in Ellicott City, Maryland. In addition to assuming all of NBRS' estimated $183.1 million in deposits, Howard Bank will purchase essentially all of its $188.2 million in total assets. All of NBRS' five branches, including four in Maryland and one in Penn- sylvania, have reopened under the Howard Bank name. "Howard Bank has demonstrated strong leadership and commitment to the residents of Central Maryland," Cooley said. "No- where is this commitment more evident than Howard Bank being the first Maryland- chartered bank to assume deposits and purchase assets of a closed local bank from the FDIC." FDIC estimates its Deposit Insurance Fund will take a hit of $24.3 million as a result of NBRS' closing. e latest collapse follows a quiet period after what had been an active summer for FDIC. Last year, the agency announced 24 bank closings, 22 of which had already oc- curred by this time. Maryland had the highest foreclosure rate in the U.S. in October 2014 with one foreclosure filing for every 400 housing units, according to RealtyTrac. KNOW THIS

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