From HousingWire:
More Americans are now paying their mortgage often, and on time
Mortgage delinquency rates, including loans in serious delinquency and even foreclosure inventory, fell at the start of 2017, according to the latest monthly Loan Performance Insights Report from CoreLogic, a global property information, analytics and data-enabled solutions provider.
In January, 5.3% of mortgages were delinquent by 30 days or more, a drop of 1.1 percentage points from January last year.
“The 30-plus delinquency rate, the most comprehensive measure of mortgage performance, is at a 10-year low and rapidly declining,” CoreLogic President and CEO Frank Martell said.
“While late-stage delinquencies remain in the pipeline in selected markets, early-stage delinquency performance is stellar and the lowest it’s been in two decades,” Martell said. “The continued improvement in mortgage performance bodes well for the health of the market in 2017.”
Foreclosure inventory rates, which measures the share of mortgages in some stage of the foreclosure process, decreased to 0.8%, down from 1.1% last year. The serious delinquency rate, loans 90 days or more past due, including those in foreclosure, dropped to 2.5%. This is down from 3.2% the year before.
More United:
http://www.latimes.com/business/lazarus/la-fi-lazarus-united-low-priority-passenger-20170412-story.html
Remember their ad campaign “We Love To Fly And It Shows”
“We Love To Fly And It Shows” – so much that we’ll kick our customers off to fly ourselves.
Disappointed Quantas didn’t jump in with a Mad Max post on social media.
Tons of spam over the last two days offering discounts. So far I’ve gotten coupons/discounts for flights on Southwest, AA, and Frontier. Just got a 30% off coupon code for Southwest. I’ve never, ever, ever even heard of an airline offering an online coupon discount, and I’ve gotten 3.
Nomad,
This line jumped out at me: “Suddenly it had more first-class passengers than it knew what to do with. So it turned to its “How to Screw Over Customers” handbook . . .”
That’s a factual (not opinion), and likely false, statement. So it actually bespeaks a pretty good claim for libel against the reporter and the LAT.
In other news, I heard Munoz this morning and he shot himself and UAL in the foot when he muffed the question whether Dao bore any blame. He said no, absolutely not. Fact is, Dao disregarded flight crew instructions, law enforcement instructions, resisted arrest, etc. Further, while he can claim mental illness as a defense against the charges (which surely will not be brought, given how all involved messed up the PR), that same defense of mental illness hurts him in the public eye.
But he can’t be heard to complain: Thanks to Munoz, what might have been a quiet settlement and little recompense for the fact that he won’t be allowed to practice medicine again, has turned into a winning powerball ticket.
Like many execs, Munoz is good when things are calm and / or he has time to rehearse answers to the questions. When things get difficult, the capable get separated from the political and it becomes apparent who has what skills. He won’t last.
Perhaps a jump in Net Jet subscribers or business people flying http://ultimateairshuttle.com or one of the many other private services.
I almost wish the majors would bump their prices and make flying dignified again. Given they are often overbooked, I wonder if raising prices until they are at 97% seat capacity would yield improved financials for their shareholders.
Grim and 30 year, do you think over the next decade the rate of home ownership will remain flat, increase or decrease. I see reports on how millennials will impact society and housing seems to be on the impacted list.
Side note, auto industry preparing to tumble with massive lease returns, used car price implosion, per unit incentives now > $4k, sub – sub prime < 550 FICO becoming greater part of the 84 month auto loan pool / ABS and of course, uber and self driving.
nomad,
Indeed, force the lower classes back onto Greyhound. I’d pay a bit more if it meant less time in airports and less jockeying for boarding and overhead bin space.
Given the new political push to ban overbooking, I would expect fares to increase 10-20%. As well as having plenty of screaming families when they realize they need to pay for same-day one day tickets when they miss their flight.
Will be fun to see what happens when they are told by check in down in Orlando that it’s going to cost $2,000 to fly their family back home because they missed their flight back from Disney.
Yeah, we all hate overbooking, I get it.
But the first step is to realize that we’re the reason it exists.
Some news outlets are reporting that flight was not “overbooked”.
http://www.wfaa.com/news/nation/united-airlines-now-says-flight-that-sparked-uproar-was-not-overbooked/430456020
United spokesman Jonathan Guerin said the flight was sold out — but not oversold. Instead, United and regional affiliate Republic Airlines – the unit that operated Flight 3411 – decided they had to remove four passengers from the flight to accommodate crewmembers who were needed in Louisville the next day for a “downline connection.”
“They were considered ‘must-ride’ passengers,” Guerin told USA TODAY.
http://www.marketwatch.com/story/christie-calls-for-suspension-of-airline-overbooking-authority-2017-04-11
http://www.bbc.com/news/world-us-canada-39569984
https://www.bloomberg.com/news/articles/2017-04-11/jetblue-founder-backs-overbooking-after-united-removal-fiasco
There is law on this:
https://www.law.cornell.edu/cfr/text/14/250.5
and this
https://www.justice.gov/usam/criminal-resource-manual-1411-interference-flight-crew-members-or-flight-attendants-49-usc
And finally, despite what you may read on the internet, resisting arrest, even when you think the arrest is unlawful (and can prove it) is still going to end badly for you if you try.
I’d post links but they’d be incomplete and I don’t have the time to be writing law review articles here to sew them together.
Suffice it to say, anything you read about Plummer or Bad Elk is probably bullshot.
if you want to educate yourselves further on overbooking rules:
https://www.law.cornell.edu/cfr/text/14/part-250
Had UAL handled it differently, this is what might have been written:
https://www.faa.gov/about/office_org/headquarters_offices/agc/pol_adjudication/agc400/civil_penalty/CaseFile/view/2013/2013-2.pdf
Footnote 21 is especially eye-opening. Talk about a benchslap.
Heard a great story from opposing counsel today:
He was an airman back in the 70’s and used to fly in/out of Guantanamo Bay. On the large seawall by the airstrip, some Cubans painted “Yankees Go Home” on the wall in white paint.
The base commander decided it could stay up and sent out a crew that painted “Red Sox fans can stay” in black paint.
He says that to his knowledge it is still there.
Comrade,
Is there a definition of ‘boarding’ in those links? Trying to think like a lawyer, he was denied boarding after he boarded.
Face,
Not that I saw. So you raise a question that will (may?) be litigated. Or perhaps it has been. Try running a search.
Resisting Arrest?? Was this a true arrest by a “real” policeman? Did they read Mr. Dao his Miranda rights?