Tuesday, November 21, 2006

Buffalo, New York —Buffalo, New York developers have been stymied by old real estate deeds.

The prospective Elmwood Village Hotel may be scuttled and businesses now located there may be forced to move.

Frustrations over property located in an area once known as “Granger Estates” circulate around a clause in the original deeds over land divided by then-owner Erastus Granger in the early 1800’s.

According to the documents, “no business establishment of any kind whatsoever” shall ever be constructed on the property, and they shall forever be exclusively for residential use only. Also prohibited are barns, farms and stables.

Sam Savarino, CEO of Savarino Companies, the prospective hotel developer, announced that his legal research team found the restrictions on properties located between 1109 and 1121 Elmwood Avenue which also stated in part that “no businesses, hospitality establishment of anykind whatsoever” shall ever be permitted to be built on the property.

Savarino, whom is expected to contest the restrictions, said that his company could have ignored the findings, but that, “we can’t risk the future of a multimillion-dollar project on the hope they wouldn’t be discovered. Our opponents would have had a field day if they’d surfaced after the fact.”

Savarino said his attorneys and researchers are anticipated to determine “exactly what weight the restrictions carry and if there’s a way for the courts to negate them.”

Existing businesses are also jeopardized.

Hans Mobius, owner of some of the restricted properties upon which a carriage house is built, said, he wasn’t aware of any restrictions, and “never had a reason to research the deed and title documents.” He confidently added that, “the lawyers can get this taken care of.”

Other threatened businesses include Don Apparel, H.O.D. Tattoo, Forest Plaza Art Gallery and Allentown Music.

Friday, March 10, 2006

On February 8, the same day Super Size Me opened in Prague, a Czech film company’s volunteer known as Karel Gustav Bozan began a 1 month diet of Czech pub food and beer in a Czech version called “Super Spek Me”; which translates loosely as “Super Flab Me”.

Zuzana Pudilova of Aerofilms described the volunteer at that time: “He is a well-built man between 45 and 50. He is almost 2 metres tall, he is not exactly thin but until now he has had quite a healthy lifestyle.”

Karel ate typical Czech pub food for an entire month with three rules: no vegetables or fresh fruit (unless they came with a meal) no exercise, and lots of beer.

Karel’s menu consisted entirely of typical Czech dishes. Obesity therapist, Iva Malkova, had warned at the beginning of the project: “People in the Czech Republic eat much more fat, especially animal fat than is recommended.” Pub meals in the Czech Republic often consist of such fatty items as goose with dumplings or sausages.

Yesterday the results were announced; Karel lost six kilos, his cholesterol went down and so did his liver enzymes, triglyceride and uric acid levels. His blood pressure did not change. At his interview with Radio Prague he said: “I feel good, great! The food was varied and there were even enough greens in the garnish. As for beer, I tried to alternate brands but I always settled it with Pilsner. I liked the experiment, it was all paid for by the distributor, Aerofilms. I would do it again, maybe they will propose it to me!”

Zuzana Pudilova of Aerofilms said: “The result of the experiment is surprising – both for us and the experts who monitored it. The medical report says our volunteer has lost weight and his blood sugar has dropped. So we have come to the conclusion that fatty Czech pub grub is not all that bad for you – which I guess wasn’t meant to be the result of the experiment at all.”

Friday, June 5, 2009

Data from the United States Labor Department says that the unemployment rate in the U.S. has reached its highest level in over 25 years, namely 9.4%.

The job loss rate, however, was only 345,000, which is the lowest monthly job loss rate since September of last year. Analysts had predicted that the loss could be as high as 525,000.

The news suggests that the US economy may be improving, as the job loss rate, which peaked at 741,000 jobs this January, has started to ease.

“Even as we see things start to stabilize and hopefully grow again, we do know that unemployment tends to lag, and so that the unemployment rate is going to be high and probably stay high for a while, precisely because that is sort of the normal pattern as we come out of recession,” said an economic adviser for the White House, Christina Romer.

Since the recession officially started in December 2007, the economy has shed over six million jobs, with 14.5 million residents now unemployed.

Saturday, September 15, 2007

Mark Grenier is running for the Green Party of Ontario in the Ontario provincial election, in the Welland riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Minor alterations not affecting the content have been made to this interview; the original text is available by clicking on the tab marked “Collaboration” for.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Tuesday, November 1, 2005

The Australian Minister for Foreign Affairs, Alexander Downer, has denied that his department had notification of sexual abuse allegations made by the Australian Guantanamo Bay detainee, David Hicks in 2003/2004.

“I’d like to see the evidence for this, and we would ask those who make the claims to present us with the evidence, let us look at the evidence, because obviously we are opposed to rape,” he said after the Four Corners current affairs TV program presented an exposé relating to the alleged reasons for the detention of David Hicks at Guantanamo Bay. The program included an interview with David Hicks’ father Terry Hicks who said that David had told him that the Americans gave him injections and then penetrated him anally with various objects.

Mr Downer’s claims were contradicted by Hicks’ military lawyer, Major Michael Mori who said that an Australian official was present during an interview that was part of the US investigation in 2004 and David Hicks had detailed the issues of being assaulted during that interview. Mr Downer declined to answer these claims when approached by the ABC Radio program The World Today but a department official confirmed the Government’s position that it was not aware of Mr Hicks’ torture claims.

The Labor Party opposition Foreign Affairs Spokesman, Kevin Rudd said in an interview on Lateline that Mr Downer “has just washed his hands of these matters” and that he had “adopted a posture of leave it to the Americans and trust the Americans. But when it comes to Guantanamo Bay, with due respect to our friends in Washington, I don’t think that’s good enough.”. Mr Rudd is calling for an independent third party such as the International Red Cross to investigate the claims.

Monday, October 1, 2007

Tyler Currie is running as an Progressive Conservative candidate in the Ontario provincial election, in the riding of Trinity-Spadina. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

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.