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Wednesday, March 14, 2012

In an opinion piece published by CNN on Tuesday, Georgetown University law student and women’s rights advocate Sandra Fluke insisted she will not allow slurs from critics to silence her and other women from continuing to speak out on issues regarding women’s health and contraception.

Fluke has faced slurs and personal attacks after speaking before the House Democratic Steering and Policy Committee in the United States House of Representatives about women’s health and contraception. She was called a “slut” and a “prostitute” by talk radio show host Rush Limbaugh. In response to these attacks, Fluke has received public support from women, members of the media, and politicians including the President of the United States.

In her piece for CNN, Fluke took the opportunity to thank her supporters, writing, “By now, many have heard the stories I wanted to share thanks to the congressional leaders and members of the media who have supported me and millions of women in speaking out.” She characterized the “opponents of reproductive health access” who issued personal attacks against her as being motivated by an attempt to change the topic of conversation away from a dialogue about women’s health, and “to silence women’s voices regarding their own health care.”

Fluke wrote that the efforts by some to drown out women from speaking out about women’s health were unsuccessful. She came to this conclusion due to the multitude of positive comments and encouragement sent to her by both female and male individuals urging that contraception medication be considered a medical necessity.

Asserting that she would not remain silent on this issue of women’s health, Fluke wrote, “Attacking me and women who use contraception by calling us prostitutes and worse cannot silence us.”

She noted that a significant majority of women have utilized contraception medication, and commented that there exists a social disconnect between politicians attempting to make it more difficult for women to access this type of health care, and the views of society-at-large about the matter: “Restricting access to such a basic health care service, which 99% of sexually experienced American women have used and 62% of American women are using right now, is out of touch with public sentiment.”

Fluke concluded her piece by emphasizing that those in power should not govern based on ideology: “I am proud to stand with the millions of women and men who recognize that our government should legislate according to the reality of our lives — not for ideology.”

After being banned by Congressman Darrell Issa from speaking before a Committee on Oversight and Government Reform hearing on February 16 which consisted mainly of male panelists, Fluke appeared before a meeting of the House Democratic Steering and Policy Committee convened by Minority leader of the United States House of Representatives Nancy Pelosi on February 23.

Fluke spoke to the committee about the need for contraception to be covered by health care plans offered by employers, as a matter integral to women’s health. She cited multiple cases where women take contraception medication as part of their health care for treatment of medical conditions unrelated to birth control, including two women who suffer from polycystic ovarian syndrome, a woman who is afflicted with endometriosis and another who takes contraception in order to prevent seizures.

Speaking before the United States Senate on February 17 along with fellow members Patty Murray, Kirsten Gillibrand, Barbara Boxer, and Charles Schumer, Senator Jeanne Shaheen of New Hampshire expressed her support for Fluke. Like Fluke, Senator Shaheen pointed out the need not to silence the voices of women in the public government debate about women’s health care: “Time and time again, women have been silenced in this discussion, a discussion about our own very personal health care decisions.” Senator Shaheen concluded her remarks with an explanation as to why she believes women should have significant representation in discussions about their health care: “Women deserve a voice in this debate because, after all, in the end this is about our health and it is about a health care decision that is between women, their families, their doctors, and their own faith.”

President Barack Obama called Fluke on March 2 to express his support for her courage to speak out on issues of women’s health. In his first press conference of 2012 on March 6, he discussed his reasons for deciding to call Fluke.

The President cited his personal thoughts about his own two daughters: “And the reason I called Ms. Fluke is because I thought about Malia and Sasha [Obama’s daughters], and one of the things I want them to do as they get older is to engage in issues they care about, even ones I may not agree with them on. I want them to be able to speak their mind in a civil and thoughtful way. And I don’t want them attacked or called horrible names because they’re being good citizens.”

President Obama went on to state that Fluke served as a positive role model for citizen participation in democracy and society: “And I wanted Sandra to know that I thought her parents should be proud of her, and that we want to send a message to all our young people that being part of a democracy involves argument and disagreements and debate, and we want you to be engaged, and there’s a way to do it that doesn’t involve you being demeaned and insulted, particularly when you’re a private citizen.”

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.

Friday, July 8, 2005

British Prime Minister Tony Blair announced at a press conference today the results of the 31st G8 summit in Gleneagles, Scotland.

Blair, the seven other leaders of the G8 nations, and the leaders of Algeria, Ethiopia, Ghana, Nigeria, Senegal, South Africa and Tanzania stood on the step of Gleneagles to address the press. The Prime Minster said “We speak today in the shadow of terrorism but it will not obscure what we came here to achieve.”

Among the decisions made was a commitment to another $48 billion (£28.8 billion) per year by 2010 in aid which Blair says can indeed, in time and if properly seen through, will make “very substantial progress” towards “making poverty history”. The deal was secured following a last-minute commitment by Japan.

Half of this aid will be sent to Africa. Some analysts have raised fears that African economies will not be able to absorb so much aid so quickly, and that the money could fuel corruption.

Only $20 billion of this deal is new money – the rest has already been pledged on previous occasions.

The US, Germany and Italy rejected a plan by Blair to double aid immediately by borrowing against future aid budgets.

“It isn’t the end of poverty in Africa, but it is the hope that it can be ended,” Blair said. “It isn’t all everyone wanted, but it is progress – real and achievable progress. It is the definitive expression of our collective will to act in the face of death and disease and conflict that is preventable”

There will also be further pushes towards ending the debt of the poorest nations, but only confirmed a earlier deal to cancel the debts of 18 countries.

Campaigners have welcomed the news, but have said that it does not go far enough, falling short of the hopes of the people who had embraced the Live 8 and Make Poverty History drives.

“Today the G8 have chosen not to do all that campaigners insist is necessary to free people trapped in the prison of poverty,” the Make Poverty History read this evening. “But more action is urgently needed if they are to play their role in bringing about real change for the world’s poorest people.”

The leaders also pledged to end farm subsidies – but did not say by when. However, they called for talks on trade liberalisation to reach a conclusion by the end of 2006.

The Prime Minister was cautious not to “over-sell” the decisions that had been made but he was resolute and confident in the possibilities for progress in the future.

Less progress was made in the realm of climate change with countries agreeing that climate change was a problem but without any concrete decisions. Talks will be held on the matter, particularly with China and India, beginning in November.

The G8 have also announced a $3 billion aid package for the Palestinian Authority.

Wednesday, December 21, 2011

Yesterday, the United States House of Representatives voted to effectively reject the Senate version of a bill, passed with bipartisan support, to extend a payroll tax cut two months past its year-end expiration date. The House voted instead to create a conference committee to settle differences between members of both bodies.

Although the tax cut extension itself has support among Republicans and Democrats, lawmakers disagree on how Congress should go about compensating for the cost of extending the cut and the policy changes it would entail.

During an appearance yesterday, President Obama condemned opposition to the Senate-passed version of the bill, accusing Republicans in the House of trying to negotiate on matters unrelated to the bill. Republicans, in response, say there is still time to negotiate the bill, insisting that lawmakers ought to concentrate on a year-long plan rather than a two-month extension. Senate Democratic leader Harry Reid, however, says he will not agree to negotiate the tax cut extension until the Senate-approved bill is passed by the House.

If the tax cut is not extended and instead expires on December 31, approximately 160 million Americans will be affected by the tax increase; President Obama insists the only way to prevent the tax hike beginning January 1 is for the House to pass the Senate bill. In response, House Speaker and Republican John Boehner wants Obama to “call on the Senate to return” to negotiate. The Senate, shortly after passing the bill, adjourned for the Holiday break.

Also included in the bill is a provision that would require President Obama to make a decision regarding the construction of the Keystone XL pipeline, a pipeline that would transport oil from Canada to Texas.

House Democratic leader Nancy Pelosi blamed the congressional year-end impasse on “Tea Party Republicans.” In a letter to President Obama, Speaker Boehner requested he galvanize the Senate to negotiate on the bill’s provisions, writing “The differences between the two different bills can be quickly reconciled to provide the American people the certainty of a full-year bill. There are still 11 days before the end of the year, and with so many Americans struggling, there is no reason they should be wasted. You have said many times that Congress must do its work before taking vacation”.

A compilation of brief news reports for Saturday, May 5, 2012.

A cattle market in the Nigerian city of Potiskum was attacked by gunmen Wednesday evening, according to an unnamed government official. The official said the attack occurred after would-be robber was subdued by market traders who then set him on fire.

Allies of the burned man retaliated by throwing grenades and shooting randomly into the crowd, the official said. The exact death toll is uncertain but is reported by various groups as being between 30 and 60. The anonymous official — who said he was not authorized to speak with journalists — said the gunmen used a strategy that mirrored those of the militant Islamist group Boko Haram.

Sources

• “Official: Dozens killed, injured in Nigeria cattle market attack” — CNN, May 3, 2012
• Adamu Adamu. “Gunmen kill 34 at northeast Nigeria cattle market” — AP, May 3, 2012

One of the most recognized paintings in the world, The Scream, sold for US$120 million at auction at Sotheby’s in New York City on Wednesday, making it the most expensive piece of art in the world.

The iconic painting was projected by experts to sell at auction for US$80 million, but an unknown buyer purchased the painting at US$119,922,500. Before the auction, Picasso’s Nude, Green Leaves, and Bust was the most expensive artwork sold after it went for US$106.5 million two years ago at auction.

Sources

• Adam Reiss and Richard Roth. “‘The Scream’ sold for nearly $120 million” — CNN, May 3, 2012
• Chris Michaud. “The Scream sale led to record $330 million auction at Sotheby’s” — Christian Science Monitor, May 3, 2012

The Saturn V on display at the U.S. Space & Rocket Center was damaged by gunfire on Thursday. Nobody was injured. The shooter was suspected to be driving on Interstate 565.

Sources

• Pearlman, Robert Z.. “Gunshots Damage Historic Saturn V Moon Rocket” — Space.com, May 4, 2012
• Clines, Keith. “Shooting of Saturn V rocket in Davidson Center could be a federal offense” — The Huntsville Times, May 3, 2012

Saturday, February 16, 2008

There were 5 games played in the National Hockey League on February 15, 2008.

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.