in Daily Dose, Featured, News, Webcasts Share Save Home / Daily Dose / A Look at the Potential Foreclosure Wave of 2021 Servicers Navigate the Post-Pandemic World 2 days ago January 20, 2021 2,180 Views Sign up for DS News Daily Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb 2021-01-20 Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago Previous: HUD Proposes New Home Inspections Rule Next: Natural Disaster Risk at Center of New FHFA RFI Demand Propels Home Prices Upward 2 days ago Print This Post Related Articles Subscribe The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago A Look at the Potential Foreclosure Wave of 2021 Servicers Navigate the Post-Pandemic World 2 days ago This week, DS5 Inside the Industry featured an interview with Rick Sharga, EVP at RealtyTrac, a foreclosure data company, where he is responsible for developing and executing a strategic marketing plan to optimize growth and drive business development.Sharga discusses the potential 2021 foreclosure wave. He points out that the current recession is atypical.”I don’t believe there is much chance at all that we will see the foreclosure volume that we saw during the Great Recession,” he tells DS News.”The forbearance programs are going to last until at least March 2021, so we have time to figure some things out.”View the following video for his detailed explanation plus more highlights from the week’s news. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago
Disrupted Asian markets to drive LNG demand squeeze in 2020In Japan, the world’s largest LNG importer, social distancing measures and a slowdown in industrial activity served to depress demand throughout the first quarter of the year – and this has continued into the second quarter with nationwide demand expected to fall by 3% year-on-year to 15.8 million tonnes.According to Wood Mackenzie: “The slowdown in first-quarter LNG demand was further exacerbated by high storage levels. Like 2019, Japan entered 2020 with above-average inventory levels due to a mild winter, though inventories are now within seasonal norms.”While China’s roadmap for economic recovery remains unclear, particularly amid heightened tensions with the US, the research firm expects LNG consumption to grow by 12% during the second quarter to 15 million tonnes, with the country where Covid-19 first appeared one of the first to emerge from lockdown and restart its economy.Demand in India is anticipated to fall almost a quarter between April and July compared to the same period of the previous year to four million tonnes, reversing first-quarter consumption growth that was driven by low spot prices for the fuel.“Lockdowns across Europe have been every bit as severe as in Asia, but the total impact on gas demand is expected to be proportionally less due to the smaller share of gas used in the industrial sector, as well as the resilience of gas burn in the power sector and largely-unaffected demand from residential use,” noted the research firm.“The single-largest fundamental difference from 2019 is Europe’s vast gas inventories, which currently sit at record seasonal highs and will reduce the continent’s ability to absorb global surplus LNG in the third quarter of 2020.” Low market prices impacting the US supply sideWhile demand has been affected by lower levels of energy consumption across key importing markets, there has been supply disruption too, with US producers under pressure to lower expenditure in the low-price environment.Wood Mackenzie researcher Robert Sims said: “Although already anticipated by the market, news that more than 20 US LNG cargoes had been ‘cancelled’ by contract and tolling off-takers for June loadings is significant.“We expect under-utilisation of US terminals to continue for several summer months as margins remain negative for many companies. What is new is that our balances and price outlook suggest that some degree of under-utilisation will now also happen through summer 2021.“Perhaps the most surprising change is the impact that low market prices are having on LNG supply, with downward revisions seen across all basins and regions.“Should this prove to be sticky going into 2021, and if we see any kind of robust rebound in LNG demand from Japan, Korea or India, then a price correction could begin earlier than previously anticipated and reduce the risk of further US supply reductions next year.” The impact of lockdowns in key Asian import markets is weighing on global demand (Credit: Wikimedia Commons/Wolfgang Meinhart) Summer demand for liquefied natural gas (LNG) is expected to fall by three million tonnes in 2020 globally – a 2.7% annual decline creating the first seasonal contraction since 2012.Lockdowns and negative economic sentiment, particularly across Asia, will contribute to the slowdown, according to research firm Wood Mackenzie, which forecasts a “modest” rebound in demand during the winter months and a return to stronger growth by the middle of next year.Key import markets of China, Japan and India were affected by the onset of coronavirus during the first quarter of the year, and although many parts of the world are beginning to ease lockdowns, the disruption to global commodity trading will continue to leave its mark. The effects of coronavirus on energy demand will persist throughout 2020, with LNG not expected to return to strong growth until mid-2021
Olivier Giroud could haunt his former club again in the FA Cup final (Picture: Getty Images)Arsenal manager Mikel Arteta is delighted for Olivier Giroud, with the Frenchman in fine goal-scoring form for Chelsea, but hopes he will suffer a slump in the FA Cup final on Saturday afternoon.The 33-year-old has been lethal since the return of football after the coronavirus hiatus, scoring six goals in his last seven games for Chelsea and on each of his last four appearances.It has been a remarkable renaissance for the veteran forward, after being left out of the Chelsea team for the majority of the first half of the season, with Tammy Abraham filling the centre-forward role.AdvertisementAdvertisementHowever, he has re-established himself as the first choice forward under Frank Lampard and Arteta is well aware of the threat he poses at Wembley on Saturday.ADVERTISEMENT‘It is always good connections when these moments arrive,’ Arteta said on Friday. ‘With Oli you can see in the last few months how he is performing, the amount of goals he has scored for them. ‘We know him, he has the experience on the finals as well. ‘I’m not surprised, because I know Oli. He is a fighter. Even when he was playing for us and he had some difficult moments, he always reacted. More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘He always works really hard and comparing with the greatest is like always. They’ve done it and they did it for long periods where they were really successful at the club. So any comparison with them is always difficult. I’m glad that he is doing really well, but hopefully tomorrow he won’t do that well.‘Asked whether Giroud was undervalued at Arsenal, Arteta replied: ‘I don’t know, the demands on strikers are so, so high but I think they fans showed a lot of appreciation for Olivier, and the club and the dressing room did as well at the time.’Giroud left Arsenal for Chelsea in January 2018 after falling out of favour with the Gunners.The World Cup winner has already haunted his former club, opening the scoring in the Europa League final last season as Chelsea went on to beat Arsenal 4-1. Mikel Arteta sends message to former Arsenal striker Olivier Giroud ahead of FA Cup final with Chelsea Comment Metro Sport ReporterFriday 31 Jul 2020 3:47 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link2kShares Olivier Giroud has been crucial to Chelsea’s recent success (Picture: Getty Images)Frank Lampard was not in charge then, but he has been delighted with the Frenchman’s work ethic this season, and has hailed his recent performances, after coming close to leaving the club in January.‘It’s always firstly down to the player on form,’ said the Chelsea boss. ‘I try to work with the group to make my message clear. You work on a lot of things with strikers, on and off the ball. ‘Olivier has been fantastic listening to that, the credit goes to him.’The FA Cup final kicks-off at 5.30pm on Saturday 1 August at Wembley.MORE: Mikel Arteta hails Frank Lampard ahead of Arsenal’s FA Cup final clash with ChelseaAdvertisementAdvertisementMORE: Chelsea rubbish claims of unprofessionalism from Marina Granovskaia in Kai Havertz chaseFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Advertisement Advertisement
“It is only right that, within our fund’s overall governance procedures, we do all we can to understand the strength of employer covenants and minimise risk,” said Williams. He said having a better understanding of the challenges presented by each sector and employer meant the LPFA could try to get assurance or security from the employer, or else set employer contribution rates at a level reflecting their covenant strength and aim to make sure they were fully funded as quickly as possible.The authority said the move to sector-wide covenant checks was a next step following individual employer checks.Requirements for the sector-wide checks had been developed in conjunction with government funding bodies such as the Higher Education Funding Council for England and the Skills Funding Agency, the LPFA said.In the individual employer covenant checks this year, the authority said it took a new risk-based approach as part of the 2013 valuation process.As a result of this approach, it said it was now implementing security arrangements totalling £311m, which had been secured as part of the process. The London Pensions Fund Authority (LPFA) is consulting employers in the pension fund on new sector-wide covenant checks for colleges and universities, which are to be implemented this autumn.The LPFA, which runs a £4.8bn (€6.1bn) multi-employer, public-sector pension fund, said it was also planning another consultation on charities and housing associations in the next few months.Tony Williams, the authority’s employer services team manager, said: “Fairness to all employers in the fund is the key driver for this covenant check approach.”If an individual employer in any local government pension fund cannot meet its liabilities, he said, there is a risk those liabilities will then fall on other employers – the local authority and ultimately taxpayers.