Tuesday, February 13, 2007

In Vancouver, a 20-year urban success story may yet have a sad ending. The city’s downtown population has doubled to 80,000 in the last 20 years thanks to Vancouver’s “Living First” policy – a planning strategy that favors residential development over commercial. And planners are expecting the population to reach more than 120,000 by 2030. But while downtown booms with people, business is busting. The International Herald Tribune reports that the city’s recently-released jobs and land-use study is estimating that downtown Vancouver may run out of commercial and office space within 5 years.

The ‘Vancouver problem’ is one that many cities in the United States could only hope to have. On the contrary, much effort has been put into bringing residential life back into the city centres. In Los Angeles, San Diego, Miami, and Washington, D.C. there has been a condominium boom in recent years, but these cities are far from the situation Vancouver faces now.

To counter the trend in Vancouver, planners are proposing changes to the city’s zoning regulations, including the passage of more lenient building height restrictions. But because residential developments are so much more profitable than commercial and office space, some public officials are proposing offering better incentives to the developers willing to build commercial. Another option is to expand the moratorium that was placed on new housing development in the central business district two years ago.

Translink is currently involved in a major expansion of the 49.5 km (30.8 mi) Skytrain system centred on downtown Vancouver. Construction of the Canada and Evergreen lines is underway. The former will be complete in 2009, and the latter in 2011.

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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.

Saturday, January 30, 2010

According to local police chief Craig Van Breugel there were no injuries or loss of life to animals or local residents in the recent fire in the rural Australian town of Toongabbie. “There was no injury to persons or animals. That is all I have for you,” Detective Acting Sergent Van Breugel said in response to queries from Wikinews.

The fire began about 2:20 pm local time (UTC+11) between Humphrey and Eagle Hawk roads, north of the township proper. The local Country Fire Authority brigade managed to contain the blaze to approximately three to five hectares.

Victoria Police have recently indicated that the area around where the fire was started is only accessible by four wheel drives (4WD) or off-road motorcycles; it is popular with dirt bike riders and 4WD enthusiasts.

The local Country Fire Authority brigade managed to contain the blaze to approximately three to five hectares between Humphrey and Eagle Hawk roads.

Det.Act.Sgt Van Breugel confrimed that there wer some off road motor cyclists in the are that day. “[Police] know there was a number of off road motorcyclists in the area on the day. Some of [them] have already been spoken to by the Police” Det.Act.Sgt Van Breugel said.

The fire is being treated as suspicious and people with infomation that may help the investigation are encouraged to contact Crime Stoppers or the local police.

Sunday, July 22, 2007

Virginia – Joshua Brady, a former Sprint Nextel customer, has had his cellular phone account shut off, but not because he wasn’t paying the phone bill, or even because he was late on payments, but because a customer service representative who assisted him, began to call him outside of her job, and make death threats to him in September of 2006. She was never fired for her actions, Brady says.

Brady has agreed to be interviewed by Wikinews to tell his story. All information and claims have been logged with Brady’s attorney and federal authorities.

The representative from Sprint Nextel, who for safety reasons is only being identified as Jessica, was working at the company’s call center in Ontario, Canada where Brady’s call to customer service was directed. According to Brady, Jessica then began to call him outside of her job duties at the call center after their first contact.

Brady called the center around 6:00 p.m. (eastern time) on a Saturday and attempted to receive help on a billing question and to find a way to stop prank calls. Brady requested a “soc code”, a code placed into the phone, that would allow for the number that was pranking him to be blocked. Unfortunately, Jessica did not know what that was, but tried unsuccessfully to find it. According to Brady, the only thing she could find was “the ANI feature call centers have.”

Brady then described to Jessica the billing issue he was having. He was being charged “for text messages I was not making”, even though he had unlimited text messaging with his billing plan. Meanwhile, Jessica called for a supervisor to help locate the code. As this customer service request over the phone was taking quite a bit of time, the two of them then started to discuss what two people would normally discuss if just chatting; sports, the weather, movies and music and if Virginia was a nice place to go on vacation. The supervisor then came by Jessica’s station with no luck on finding a code.

Later that night, around 10:30 p.m., Brady received a call. He answered it and much to his surprise, it was Jessica. He answered the phone with the usual “hello” and the voice on the other end answered with “hello Josh.” Brady was “surprised” that she had not said “hello Mr. Brady.”

“I then asked who it was, and she said Jessica. She told me about her day, and hoped that I did not mind her calling.” Then according to Brady, she started to describe how much she hated working in a call center, and how the job “pays the bills”, and asked if she could “come visit me sometime”. Brady said that he “immediately started to record” the call. Brady also stated that Jessica was not aware she was being recorded, and that further conversations were recorded without her knowing.

The call lasted about 15 minutes, but Brady said she “spoke so fast and moved along through things” that he “didn’t have a chance to talk if I wanted to. It [the call] ended with me interrupting her and telling her I had to go to dinner with a friend.”

Brady immediately called customer care back and reported Jessica’s actions to a supervisor (Jason), and the Floor Manager (Also named Jessica) at the Coos Bay call center, which is where his call happened to be directed. The advice he received was to “play along” and continue to report her actions until they could locate someone “better equipped” to handle the situation.

Jessica then began to call “about every other day or so” which turned out to be almost 30 calls, according to Brady who reported each call she made to Sprint Nextel.

Sprint Nextel then told Jessica to cease and desist all contact with Brady, but that didn’t stop Jessica from contacting him. She somehow found out the screen-name of his AOL Instant Messenger account, and left messages threatening to kill him. Brady logged the messages and faxed them to Sprint, who about a week later sent Brady a letter, saying that his accounts have been terminated.

“The purpose of this letter is to inform our that our office has received a complaint regarding your recent questionable interactions with our customer care group. Recent interactions with our company have prompted us to formally contact you. Sprint Nextel terms and conditions state that “termination of services. consistent with this agreement…”, said the letter from Sprint Nextel.

Brady states that Jessica is still employed with Sprint Nextel, despite the fact that all instant messages left by Jessica were forwarded to Sprint Nextel.

As recently as July 10, 2007, as many as 1,000 accounts were terminated by Sprint Nextel because customers were complaining too much and asking too many questions about billing.

“While we have worked to resolve your issues and questions to the best of our ability, the number of inquiries you have made to us during this time had led us to determine that we are unable to meet your current wireless needs,” said one letter to a sprint customer as recent as June 29, 2007. The letter states that the service will be terminated just one day after the letter was written despite saying they “understand switching to a new carrier causes an inconvenience.”

Two weeks ago, Sprint addressed the media about the mass-cancellations. “These accounts have been researched very carefully,” Sprint spokeswoman Roni Singleton said. “We feel strongly that the decisions we made, we stand by them. These decisions weren’t made lightly.”

“If the average person is calling less than once per month and these people are calling 40 or 50 times more, that takes away from customer service,” Singleton said. “Our priority is to improve the customer experience.”

Wikinews sent e-mails to Sprint Nextel on July 20 regarding the Brady incident; to date no response has been received.

Update: On July 23, 2007, Wikinews received an email response from a Sprint representative, going to some length to explain the termination of the customers who were calling up to hundreds of times a month. No information was given on the Brady case covered in this article; “customer privacy considerations” were cited as the reason and “no comment” was Sprint’s reply.

Thursday, March 2, 2006

Buffalo, New York —In an unanimous vote, the City of Buffalo‘s Planning Board voted to table the Elmwood Village hotel Proposal, postponing voting on legislation for up to 30 days.

The Board said its decision was due to the lack of public involvement, saying that there have not been enough meetings.

The Elmwood Village Hotel is a proposed project by Savarino Construction Services Corporation and was designed by Karl Frizlen of The Frizlen Group. The hotel would be placed on Elmwood and Forest Avenues in Buffalo, New York. In order for the hotel to be built, at least five buildings, that include both businesses and residents, must be demolished.

The Forever Elmwood Corp. is a Buffalo-based non-profit organization founded in 1994. Justin Azzarella, the Executive Director for the organization voiced support for the proposal, stating: “I am here today to lend Forever Elmwood’s support the hotel project. Particularly, Forever Elmwood is encouraged by the fact that this building follows the more stringent Elmwood Village Design Guidelines. We have been speaking with Savarino Construction, and they have promised us [Forever Elmwood] that they will engage the community further, including the surrounding Block Clubs and businesses. For that reason, while Forever Elmwood is in support of this project and the type of project that it is, we are asking also that the project be tabled so that the community can be further engaged. Specifically the surrounding Block clubs which include the Granger, Claremont, Asland and The Lincoln Parkway Block Clubs.”

“Because of the excellent work that Karl does and the game plan that they have, I think its an ideal use of this particular location. I think that this particular type of development needs to be encouraged and promoted as opposed to roadblocked,” said a man who owns five properties near the proposal site.

However, Evelyn Bencinich, a resident of Granger Place and whose house would be located directly behind the hotel said, “My property value will be depreciated or non-existent because no one is going to want to live behind a multi-story hotel. We are facing up to a year of noisy and dangerous demolition and construction. Children, pets and even drunk rebellers could wander on site and get hurt. Traffic tie-ups caused by large machinery and garbage bins is inevitable. Where will pedestrians walk? We could experience increased unsanitary flooding in our yards and basements due to the digging and cementing for the underground parking garage. Rats will be displaced into the immediate neighborhoods and be in great abundance. Once we get past the year of nightmare construction, what if you build it and they don’t come? We could ultimately have a seven million dollar rooming house on our corner.”

Patty Morris, co-owner of Don Apparel with Nancy Pollina at 1119 Elmwood also asked that the project be tabled saying, “this has only been public knowledge for less than two weeks and the public never saw the redesign. How can you vote on anything that no one has seen yet? The Board cut off Morris saying, “so specifically you don’t have any problem with it [the design] you just…” Morris then said, “Oh I am totally against this project, but thats besides the point isn’t it.”

The planning board is also concerned that the current design may still be too big.

At one point Board member Susan Curran Hoyt said, “we know you’ve cut down your number of rooms on this project, but we still see it doesn’t seem to fit the description of a ‘botique’ hotel,” and asked Eva Hassett, Vice President of Savarino Construction, “we wonder if you could reduce the rooms further.”

“One thing I didn’t talk about was the price levels of these rooms and that will be important to know. The room rate will be somewhere between US$120 and $160 a night, which is about the same price of the Hampton Inn down town and the smaller you make the hotel, the more expensive the rooms will get. We believe that we’ve made a good compromise in terms of the size of the hotel and perhaps botique means different things to different people,” said Hassett.

The board was also concerned that there is not enough parking asking, “are there alternative plans for valet parking off-site, in the event that you have a full hotel or a large event going on?”

“We are exploring several possibilities with respect to additional parking for valet and parking near-by,” replied Hassett. “We are also exploring the possibility of using the rear of 1105 Elmwood for additional parking, which would give us an additional ten or eleven spaces.”

The new design has a total of 55 parking spaces for 72 rooms, with 39 of them underground and the rest on ground level.

Hassett also said that a “parking study” will be done on the area.

Concerns that the second floor of the hotel will be too close to the property of 605 Forest were also brought up. The board asked how far the hotel would be from the property and Karl Frizlen replied saying it would “be approximately five feet from the property line,” but he also admitted that, “I do not know exactly how close the house next door” will be from the hotel, but did say “I think the house is about four or five feet away from the property line and we [the hotel] sit right on the property line.”

The board is concerned the setback from the property is not enough saying the space between the building and the hotel is “pretty narrow.”

The City’s Common Council also agreed to table the proposal also citing the need for more public engagement and the need for more organizations to respond including the Buffalo Preservation Board and the Office of Historic Preservation.

During that meeting, Hassett also said the proposal to try and get a variance to obtain the properties of 605 and 607 Forest were “now off the agenda.”

The Common Council is expected to meet and hold a public hearing about the project and the rezoning of the properties to be demolished (1119-1121 Elmwood) on Tuesday March 7, 2006 at 2:00 p.m. in Council Chambers at City Hall. At the moment the properties are not zoned for a hotel.

Tuesday, April 14, 2009

French fishing vessels have blockaded the English Channel ports of Calais, Bolougne, and Dunkirk.

The protest is an industrial action over tighter fishing quotas imposed by the European Union, with French fishing unions asking for their government to provide financial assistance or take a tougher line. CFTC Fishermans Union spokesman Bruno Dachicourt told Agence France Presse: “There are easily twenty boats blocking the port of Boulogne-sur-Mer in organized ranks. Not a boat will go in nor out.”

The fishermen are protesting the lowering of European Union quotas on fishing, which place a ceiling on the amount of fish that the fishermen of each member country are allowed to catch and sell. The EU has lowered quotas in response to concerns about the sustainability of fisheries, but each drop in quota reduces the amount of work each fishing vessel can do. “The feeble amount of the quota obliges us to close the fishing zones three months after the beginning of the catch”, said Stéphane Pinto, spokesman for the CFDT trade union group representing fishermen in Boulogne.

Ferry sailings between Dover in the United Kingdom and Calais were suspended, with UK authorities implementing the Operation Stack management plan in response. Under the plan sections of the M20 motorway are closed to traffic and used as a managed lorry park. Motorists have been advised to seek alternative routes if possible. Most cars and passengers from the P&O Calais-Dover sailings at 16.10 (apparently the first sailing affected), 17.40 and 18.25 left on the “Pride of Dover” at 11.47 arriving Dover at 12.30. Two SeaFrance ferries, Renoir and another, left slightly earlier.

Fishermen have also used fires and roadblocks to interfere with access to the ports by road.

The blockades come eight days after a similar incident in the Mediterranean, when French fishermen in Marseille, Ajaccio, Toulon and other port cities interfered with oil tanker movements and blockaded ports throughout the south of the country.

Wikinews is unaware of any official statement from the British or French Governments in response to the blockade.

Wednesday, April 25, 2012

According to Israeli Prime Minister Benjamin Netanyahu, the termination of a natural gas contract between Egypt and Israel is a business matter and not a political issue between the two counties. Netanyahu’s statement on Monday backs away from other officials’ earlier responses to the action.

Egyptian Natural Gas Company announced Sunday, April 22 that it will stop supplying Israel with natural gas over a disagreement about payments. The company’s leader claims the other side is in “breach of contract” as Gasco has not been paid for what has already been delivered.

In 2005, Israel and Egypt, under former president Hosni Mubarak, signed a 15-year trade deal whereby Egypt would supply natual gas at a discounted rate to the Israelis. Tensions between the two countries have made Israel cautious about relying on Egypt for its energy. Since the 2011 Egyptian revolution, the pipelines for transporting natural gas from Egypt to Israel have been damaged up to 14 times.

When this decision was broadcast on Sunday night in Egypt, commentators for Egyptian news services discussed whether this decision was a blatant contractual infringement, a necessary commercial move, or an attack on the original peace treaty between Egypt and Israel made at Camp David in 1978.

In Israel, Yuval Steinitz, the finance minister, said, “This is a dangerous precedent that diminishes the peace treaty [between the two countries].”

Avigdor Lieberman, foreign affairs minister, had called on Egypt to reverse the decision and prevent the contractual dispute from escalating into a political issue. Since Netanyahu’s more recent comment, Lieberman has also backed away from characterizing the issue as a political dispute.

Egypt’s natural gas exports once made up 40 percent of Israel’s natural gas reserves, but Israel has looked for other options as the political atmosphere in Egypt changed. Israel is developing its own offshore fields, and it has begun to import other types of “dirty fuels,” like gas and diesel. As a result, Israeli consumers have seen a nine percent increase in electricity costs and Israel is preparing for the possibility of blackouts.