Charting Consumer Credit Trends

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Charting Consumer Credit Trends Servicers Navigate the Post-Pandemic World 2 days ago August 9, 2019 862 Views Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribe Consumer Credit Federal Reserve HELOC NAHB Student Debt 2019-08-09 Radhika Ojha Demand Propels Home Prices Upward 2 days ago Related Articles Previous: Waters: FHA ‘Acted in Haste’ on Distressed Assets Program Next: Company Upgrades App for Title Agentscenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Consumer credit increased by 5% in Q2 2019 according to the Federal Reserve’s latest G.19 report. The data indicated a rise in both revolving as well as nonrevolving credit. While revolving credit rose at an annual rate of 5-1/4%, nonrevolving credit increased at an annual rate of 4-3/4%.As of June 30, the Fed report indicated that consumer credit totaled $4.1 trillion, with $1.1 trillion in revolving debt and $3 trillion in nonrevolving debt.According to an analysis of the report by the National Association of Home Builders (NAHB), consumer credit increased by $15 billion month-over-month. In June, consumer credit increased at a seasonally adjusted annual rate of 4%.In what could impact home equity lines of credit (HELOCs) moving forward, revolving credit greatly decelerated and was virtually unchanged from the previous month, decreasing by $80 million, while nonrevolving credit increased by $15 billion at an annual rate of 6%.While revolving credit plans are largely composed of credit card debt, they also include HELOCs and might be secured or unsecured by collateral and allow a consumer to borrow up to a prearranged limit and repay the debt in one or more installments, the NAHB analysis explainedThe analysis additionally revealed that total student debt, a component of nonrevolving credit, stood at $1.6 trillion by the end of Q2 2019. Out of this total, $6 billion was added between March and June.Student debt has been steadily increasing since prior to the Great Recession and remains one of the main obstacles to homeownership by younger demographics. Earlier this year, NAHB had reported that while student debt has increased, credit lending standards have become more stringent after the Great Recession, thus providing another impact on homeownership.Additionally, the study had found that since student-loan debt historically made up the majority of nonmortgage, nonrevolving credit, “homeownership is the opportunity cost for its accumulation.” Demand Propels Home Prices Upward 2 days ago About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Tagged with: Consumer Credit Federal Reserve HELOC NAHB Student Debt Home / Daily Dose / Charting Consumer Credit Trends Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

USC looks to transform research in the digital age

first_imgThe path to a permanent place in the ivory tower has traditionally consisted of long, solitary nights spent poring over books or data or code, looking for a pattern no one else has spotted before, hoping — maybe even praying — that the days, weeks and months of painstaking research will culminate in publication in a major journal.In its push to be a leader in cutting-edge research, USC is looking to break that mold.The researcher of the future, at least at USC, will do significant collaborative work that spans specialties and disciplines, and will publish their findings in some form other than print — what form, exactly, is still being researched — according to Randolph Hall, USC’s senior vice president for research.“The digital world is changing how we do research,” Hall said. “It’s changing the way faculty and students work with each other — it’s becoming more synchronous and collaborative.”The university’s research programs have consistently placed USC among the top 20 research institutions in the country in the past few years. But USC is not content with consistency. It wants to drive forward, to venture into uncharted territory.That’s where Hall comes in. Aside from ensuring all university research adheres to ethical and legal standards, Hall is responsible for research advancement, which boils down to, as he puts it, “finding new faculty or new people or supporting faculty to do new things.”Most of the funding for those pursuits comes from the federal government, specifically organizations like the National Science Foundation or the National Institutes of Health. For the 2010 fiscal year, the university received $560.9 million in sponsored research funding, and more than 70 percent of that money was in the form of federal research grants.The latest federal budget details significant cuts to research — NIH funding would be cut by $260 million and NSF funding by $53 million. At USC, this translates into a loss of about $4 million, or a 1 percent decrease, according to Hall.The key to sustaining research amid federal budget cuts is to remain ahead of the increasingly cutthroat competition. Hall lists four broad areas of focus at USC he expects will keep the university competitive in the quest for grants: biomedicine and health, energy and environmental topics, inquiries into how humans interact with each other, and information science.This last area, Hall says, is the one in which USC really has the chance to excel.Information science, at its core, is research into how we do research. The digital revolution has brought with it a whole host of new techniques for sharing and disseminating information, and USC researchers are looking for ways these techniques can be integrated into every discipline. Much of this work is being done by the Institute for Creative Technology and by researchers in the Visual Studies Program.The advent of digital technologies has also facilitated a move toward collaborative research — a trend that has been particularly pronounced at USC.“It seems to be that USC has blossomed in this way as collaborative research is proving to produce more interesting scholarship and more interesting questions,” said Phil Ethington, a professor of history who conducts interdisciplinary research on global metropolises. “It’s just not possible in a lifetime to master enough disciplines to do it yourself.”Collaboration can come in many forms. It can mean working with colleagues within one department, or branching out to work with researchers in a completely different field. USC fosters and encourages both.Last year, the Dornsife College of Letters, Arts & Sciences, launched a program called College 2020 that provides money to faculty members who propose research projects that transcend traditional departmental boundaries and aim to answer questions relevant to society. The research projects selected to receive funding this year will investigate topics like the effects of downturn and recovery on the brain and how to enhance education on immigrant integration. The first project alone will bring together researchers from six different fields, including psychology, political science, business, neuroscience, education and law. USC also has a number of interdisciplinary research centers.Though collaboration has been standard practice in the natural sciences for some time, it is relatively new to the humanities and, to some extent, the social sciences. Ethington emphasized that there are useful ways for humanities scholars to collaborate, if they are willing.For instance, he said, an art historian could work with a neuroscientist who understands how people process visual information. The two together can provide a unique analysis of the significance of a piece of art in a certain time period or to a certain people.The sciences and humanities don’t always embrace each other, however. This gap often makes scholars from one discipline wary of working with scholars from the other.But the bigger obstacle in fostering collaboration at USC has been the standards set by academe, Hall said.A critical issue for most researchers is how to earn tenure and how to get promoted. Traditionally, professors have been evaluated based on individual contributions to the field, but USC recently rewrote its guidelines to accommodate — and encourage — collaboration.The University Committee on Appointment, Promotion and Tenure revised its manual earlier this year to include information about how to evaluate collaborative research when considering a candidate for tenure or a promotion.Hall’s office also launched a program called Creativity and Collaboration in the Academy last December, which aims to show professors how research can benefit them. Hall is hoping to get NSF funding for the program this year.Additionally, the University Research Committee, which is chaired by Ethington, drafted guidelines for attributing collaborative research. These guidelines, which emphasize intellectual contribution, were passed by the Academic Senate on Wednesday.“There’s a leftover standard of a single scholar model, at least for evaluating people,” Ethington said. “That’s where we were running into a roadblock, because the traditional standards in the university were still saying you just have to impress your own field … Motivation can depend on how you get credit.”Though the university has taken steps to invite collaboration, which it believes is the key to being at the forefront of research, it remains to be seen if the culture can truly be changed –— but Hall is working on it.“We want a structure to encourage them,” he said. “We don’t want any artificial barriers.”last_img read more

Clippers hope vocabulary lessons help them improve their defense

first_img Kristaps Porzingis ruled out as Clippers, Mavericks set for Game 5; Follow for game updates Newsroom GuidelinesNews TipsContact UsReport an Error “We always say: Knowledge is power,” he said. “And the quicker you have the knowledge, the more powerful and faster you become on defense.”BOOGIE CIRCLES CLIPPERS GAMEAll-Star DeMarcus Cousins reportedly plans to make his Golden State Warriors debut on Jan. 18 against the Clippers at Staples Center, according to The Athletic’s Shams Charania.ESPN had already determined last week that the network would change its previously announced schedule to broadcast the game, the third of this year’s series between the teams. The first two meetings have been thrillers, with the Clippers winning 121-116 in overtime at home and Steph Curry converting a layup with 0.5 seconds left to lift the Warriors to a 129-127 victory in Oakland.Cousins – who signed a one-year deal with the Warriors last summer as a free agent – has been out since suffering a left Achilles rupture on Jan. 26, 2018, when he was a member of the New Orleans Pelicans. In 48 games before his injury, he was averaging 25.2 points, 12.9 rebounds and 5.4 assists, plus 1.6 blocked shots and 1.6 steals.AND THE AWARD GOES TO …The Clippers received the inaugural NBA Team Innovation Award for Clippers CourtVision, the digital viewing experience that uses artificial intelligence and augmented reality to analyze the action on the court and then translate it into a series of animations and annotations on the screen. It’s available to Fox Sports Prime Ticket subscribers.CourtVision was envisioned by Clippers owner Steve Ballmer and uses technology from Second Spectrum to give fans a choice between watching a game on “Player Mode,” which features in-game stats, “Mascot Mode,” which is heavy on fun-filled features, or “Coach Mode,” which draws up plays on-screen as they develop.The NBA Team Sales & Marketing 2019 Awards were announced at the league’s annual sales and marketing meetings in Miami.Related Articles What the Clippers are saying the day after Luka Doncic’s game-winner tied series, 2-2 Clippers hope they can play to their capabilities, quell Mavericks’ momentum Clippers vs. Mavericks Game 5 playoff updates from NBA beat reporters For Lakers’ LeBron James, Jacob Blake’s shooting is bigger issue than a big Game 4 victory That discourse is especially important with a team whose longest-tenured member is Thornwell, whom the Clippers acquired on June 23, 2017.Sign up for Home Turf and get exclusive stories every SoCal sports fan must read, sent daily. Subscribe here.Every team has its own language, he said, and so sometimes messages get lost in translation.“If you’ve been doing things a certain way for so long, you get used to it a certain way,” Thornwell said. “Guys, they have good intentions, (they’re) just calling the wrong call because it’s not the team’s call. It’s an issue we had to correct and it’s still something we continue to work on.“We try to do this thing where echo – if one player hears it, just say it because maybe the person beside you might not hear it. Talking is a part of defense and so you can’t play defense without talking. That’s one thing that we really emphasize every night.”It’s just a matter of some extra tutoring, Rivers said. LOS ANGELES — While they were studying film recently in an effort to identify ways to improve their transition defense, the Clippers realized they needed also to do some vocab cramming, too.“One of the things we found is that the guys were late a lot on stuff,” Coach Doc Rivers said. “And the big would say he called it out and the guard would say he didn’t hear it, then the big would say, ‘I said it,’ and the guard would say, ‘it was the wrong terminology.’ ”“It’s a pretty open team where everybody can voice themselves and give their opinion about things,” reserve guard Sindarius Thornwell said.They can talk about talking, in this case.last_img read more

Pirates sign 3B Jung Ho Kang to 1-year deal

first_imgIn this Oct. 1, 2016 file photo, Pittsburgh Pirates’ Jung Ho Kang rounds the bases after hitting a three-run home run during the first inning of a baseball game against the St. Louis Cardinals in St. Louis. (AP Photo/Jeff Roberson, File) PITTSBURGH (AP) — Jung Ho Kang is staying with the Pittsburgh Pirates.The Pirates and the veteran third baseman agreed to a one-year deal Thursday that will bring Kang back for the 2019 season.The move comes a week after Pittsburgh declined a $5.5 million club option for Kang, paying him a $250,000 buyout instead. Financial terms on Kang’s new deal weren’t immediately available.“We feel that bringing Jung Ho back in 2019 will make us better as he will have the ability to make a positive impact on our lineup,” general manager Neal Huntington said in a statement. “Competition and options are important to any organization and this signing provides us with both.”Kang was a star in his native South Korea when the Pirates signed him to an $11 million, four-year deal in January 2015. He finished third in NL Rookie of the Year balloting after hitting 15 homers and driving in 58 runs in 2015, when Pittsburgh won 98 games. It would be the high point of Kang’s time with the Pirates.The 31-year-old Kang didn’t play in the U.S. between September 2016 and June 2018 because of visa issues connected to three DUI arrests in South Korea. He made it back to the majors with Pittsburgh in September, collecting two hits in six at-bats during the final weekend of the season.___More AP baseball: https://apnews.com/tag/MLBbaseball and https://twitter.com/AP_Sportslast_img read more

Syracuse meets Pitt in ACC 2nd round

first_imgPittsburgh (14-18, 4-15) vs. No. 6 seed Syracuse (19-12, 10-8)Atlantic Coast Conference Tourney Second Round, Spectrum Center, Charlotte, North Carolina; Wednesday, 8 p.m. EDTBOTTOM LINE: Pittsburgh is set to meet Syracuse in the second round of the ACC tournament. In the regular season, Syracuse won both of the head-to-head matchups. The teams last played on Feb. 2, when the Orange shot 41.5 percent from the field while limiting Pittsburgh to just 31.6 percent on their way to a nine-point victory.FEARLESS FRESHMEN: Pittsburgh’s Xavier Johnson, Trey McGowens and Au’Diese Toney have combined to score 50 percent of the team’s points this season and have accounted for 50 percent of all Panthers scoring over the last five games.JUMPING FOR JOHNSON: Johnson has connected on 35.6 percent of the 104 3-pointers he’s attempted. He’s also converted 75.1 percent of his foul shots this season.UNDEFEATED WHEN: Syracuse is a perfect 15-0 when it holds an opponent to 63 points or fewer. The Orange are 4-12 when opponents score more than 63 points.PASSING FOR POINTS: The Panthers have recently used assists to create baskets more often than the Orange. Syracuse has an assist on 29 of 68 field goals (42.6 percent) across its previous three matchups while Pittsburgh has assists on 35 of 69 field goals (50.7 percent) during its past three games.DID YOU KNOW: The Syracuse defense has forced opponents into turnovers on an impressive 23.4 percent of all possessions, which is the 14th-highest rate in the country. Pittsburgh has turned the ball over on 19.8 percent of its possessions (ranked 263rd among Division I teams).___For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.com Syracuse’s Frank Howard (23) shoots over Pittsburgh’s Xavier Johnson (1) and Terrell Brown, right, during the first half of an NCAA college basketball game Saturday, Feb. 2, 2019, in Pittsburgh. KEITH SRAKOCIC AP PHOTOlast_img read more