DS News - Digital Archives

Indiana rank: 13 90+ Day 2.95% 3.09% -4.5% 90+ Day 4.28% year ago 3.66% percent point change 16.9% 22.2% Top Core-Based Statistical Area ELKHART-GOSHEN, IN 90+ Day 2.82% year ago 3.30% percent point change -14.7% -11.3% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary August 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 5.8% 6.01% 3.05% percent point change 5.9% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary August 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Delinquency Rate august 2012 5.33% 3.22% year ago 2.02% Foreclosure Rate -29.4% 6.38% 3.91% percent point change -19.1% Top Core-Based Statistical Area TOPEKA, KS 90+ Day Delinquency Rate august 2012 2.14% Foreclosure Rate Delinquency Rate Foreclosure Rate august 2012 4.13% year ago 4.34% percent point change -4.8% SWITZERLAND COUNTY Top County Delinquency Rate august 2012 7.80% 2.76% year ago 4.83% Foreclosure Rate 90+ Day Unemployment Rate 8.3% 9.3% -10.8% Kansas rank: 36 90+ Day 2.21% 2.18% 1.5% Delinquency Rate Foreclosure Rate august 2012 2.00% year ago 2.13% percent point change -6.5% Top County KINGMAN COUNTY Delinquency Rate august 2012 3.90% Foreclosure Rate Unemployment Rate 6.2% 6.7% -7.5% experienced a crisis . . . . [W]e are working to hold Barclays, and other responsible parties, accountable for their actions." NCUA has filed similar actions against JPMorgan Securities, LLC; RBS Securities; Goldman Sachs; Wachovia; and UBS Securities. NCUA settled claims exceeding $170 million with Citigroup, Deutsche Bank Securities, and HSBC. The agency says, it is the first federal regulatory agency for depository institutions that has recovered losses from faulty security investments on behalf of failed financial institutions. United States Appraisals to Pay for Appraisers Weekly Iowa rank: 26 90+ Day 1.59% 1.65% -3.5% 90+ Day 2.38% year ago 2.56% percent point change -7.1% -1.9% Top Core-Based Statistical Area OMAHA-COUNCIL BLUFFS, NE-IA 90+ Day 1.85% year ago 1.91% percent point change -3.4% -6.8% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary August 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 1.39% Delinquency Rate august 2012 1.29% Foreclosure Rate 6.55% Delinquency Rate Foreclosure Rate august 2012 2.85% year ago 2.80% percent point change 1.5% Top County LOUISA COUNTY Delinquency Rate august 2012 6.43% Foreclosure Rate Unemployment Rate 5.5% 6.0% -8.3% tion (NCUA) announced in late September that it is suing Barclays Capital, Inc. The law- suit, which was filed in a federal district court in Kansas, alleges Barclays misrepresented mortgage-backed securities it sold to U.S. Central Federal Credit Union and Western Corporate Federal Credit Union (WesCorp). According to the complaint, Barclays The National Credit Union Administra- omitted and systemically disregarded un- derwriting guidelines stated in the offering documents. U.S. Central and WesCorp paid more than $555 million for the securities they believed posed minimal risk. Both credit unions eventually failed. "Trust and accountability are two IN THE NEWS NCUA Files Securities Suit Against Barclays quartered in Overland Park, Kansas, said in a recent release that it will start paying its appraisers on a weekly basis. The company explained that its capability to make pay- ments weekly follows the adoption of a new proprietary operating system. The new plat- form creates a more efficient process, which helps the appraisal management company (AMC) achieve a faster pay cycle. According to a company statement, the new pay sched- ule is the fastest pay cycle in the industry. David Turner, chief corporate appraiser United States Appraisals, which is head- for United States Appraisals, said, "We know appraisal management companies put a lot of pressure on appraisers to complete their assignments quickly. We hear about many of those same AMCs paying slowly. United States Appraisals will pay for completed reports that pass our quality review on a weekly basis. By shortening the pay cycle, we provide an incentive to complete our assign- ments faster by providing the appraiser with an immediate reward for their hard work." The AMC's review process includes an automated review of more than 2,000 data points before a manual review by a certified residential appraiser. The company said that by achieving a shorter pay cycle, the reports will also be delivered more quickly. STAT INSIGHT cornerstones of our financial system," posited Debbie Matz, NCUA board chairman. "As clearly outlined in our complaint, Barclays violated that trust by issuing faulty disclosures on securities underwritten by the firm. As a result, two corporate credit unions collapsed, and the entire credit union industry 88 Kansas mortgages in Q2 that included principal reduction. Share of modifications completed on Source: Office of the Comptroller of the Currency

• Cover