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October 29, 2010

Next Friday's Presentation - Brown Bag Research Series

Posted on Friday, October 29, 2010 at 07:22 pm ET

The UCSUR Brown Bag Research Series continues next Friday (Nov. 5) at noon here at UCSUR.

Our presenters will be Dr. Randy Walsh and Lin Cui, of Pitt's Economics Department, presenting on ?Urban Economics: Foreclosure, Vacancy and Crime."

Dr. Walsh is an associate professor of economics whose interests include public, urban, and environmental economics. At this session, he is joined by Lin Cui, a doctoral student in economics and former PNCIS graduate student researcher. She will present her findings on the relationship between foreclosure, vacancy and crime; which indicate that while foreclosure alone has no effect on crime, violent crime increases once the foreclosed home becomes vacant.

Please RSVP by emailing us at pncis@pitt.edu. Hope to see you there!

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October 25, 2010

Pittsburgh in Top 10 for Census Participation Rates

Posted on Monday, October 25, 2010 at 03:06 pm ET

UCSUR's diligent intern this semester, Ben Robinson, pointed out a note via the Brookings Insitution that the Census Bureau just released the final, official tally of Census 2010 participation rates across the country. By their tally Pittsburgh ranks in the top 10 metropolitan areas in terms of participation rates. Everyone should know they contributed to saving the Census Bureau some money. The Census Bureau saved so much money in conducting the 2010 census this year that it returned $1.6 billion of its $7 billion dollar budget for operations. That would not have been possible if the response rates to the mailed out survey forms had been lower.

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October 22, 2010

New PEQ out

Posted on Friday, October 22, 2010 at 02:53 pm ET

The latest edition of our Pittsburgh Economic Quarterly is online now. Link

Articles in this edition include:

Racial Disparities in Financial Exploitation of Older Adults in Allegheny County

and

Real Estate Owned Property and Impacts on Neighborhoods in Pittsburgh

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October 18, 2010

URA Brown Bag Lecture Series - RSVP Today!

Posted on Monday, October 18, 2010 at 02:36 pm ET

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October 08, 2010

PNC, Bank of America Suspend Sales of Foreclosed Homes

Posted on Friday, October 08, 2010 at 05:39 pm ET

Now that PNC has announced the suspension of foreclosure sales, the share of total 2010 sheriff sale properties advertised by lenders using questionable document processing has risen to 24% in the County.

This list includes Bank of America (including BAC Home Loans Servicing and Countrywide), GMAC, JPMorgan Chase, and PNC (including National City).

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October 04, 2010

Impact of Flawed Foreclosure Documents in Allegheny County

Posted on Monday, October 04, 2010 at 01:53 pm ET

Recently, several large mortgage companies, including GMAC, Bank of America, and JPMorgan Chase have admitted following improper procedures in processing numerous foreclosure documents. The list of affected lenders seems to grow by the day. As a result, many national experts expect the foreclosure process to slow.

In order to stay on top of this, we have linked foreclosure records to sheriff sale advertisements to provide a look at the number of properties in Allegheny County advertised for sale by each lender so far in 2010. Needless to say, many of the largest lenders in the County have not been following proper protocol.

17% of properties that have been advertised for sheriff sale in the County so far in 2010 have involved GMAC, Bank of America (including Countrywide and BAC Loan Servicing), and JPMorgan Chase, the lenders currently admitting to using flawed procedures.



Download a list of all plaintiffs involved in a sheriff sale advertisement, and take a look at where sheriff sales have been advertised this year on The PUB.

Please note the list does not reflect consolidations within the lending industry, and many of the names are mortgage servicers affiliated with specific lenders. For example, BAC Home Loan Servicing, one of the most-active plaintiffs in the County was affiliated with now-defunct Countrywide, and has a current relationship with Bank of America.

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