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Tag Archives: MBJ FEATURE

Mortgage group: Encouraging signs in new delinquency numbers

The Mortgage Bankers Association last month gave the most encouraging assessment in several years on delinquent mortgages, reporting a 30-day tardy rate not seen nationally since the end of 2007, a period that marked the start of the current recession. The delinquency rate for mortgage loans on one-to-four unit residential properties decreased to a seasonally adjusted rate of 8.22 percent ...

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Safety, security: USM center expanding its reach internationally

Most of the training emergency responders undergo isn’t all that heavy on how to handle a crisis at a large sporting venue. The National Center for Spectator Sports, Safety and Security (NCS4) has been filling that gap since 2006, and it’s about to go international. “We did some research a couple years back and found that the problem facing the ...

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Go safe or take the risks

Ask a room full of economists and financial planners to create a model for funding a defined public pension plan. The lines likely will divide this way: Pension commitments are too sacrosanct to be risked on a stock market roller coaster. Shelter the money in very low-risk instruments. Look at the equities market over the last 70 years. It’s provided ...

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Bank tries to prove Valley committed fraud

The long-awaited trial of the Evans brothers began last week in U.S. Bankruptcy Court for the Southern District of Mississippi and was still continuing at press time. Judge Neil Olack will rule in the non-jury trial. Heritage Bank and the Bank of Forest are suing Mississippi Valley Title Insurance Company (MVT) on contractual claims and a bad faith claim, as ...

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Natchez casino project hits another snag

In Feb. 2008, developers of a Natchez casino on that city’s famed Roth Hill appeared before the Mississippi Gaming Commission and got site approval for the project. Natchez aldermen don’t believe enough has happened since then, so in their Feb. 22 meeting, they voted 5-1 to notify Premier Gaming Group, a Kentucky-based company spearheading the development for Natchez Enterprises and ...

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State: Moody’s calculations wrong

Managers of Mississippi’s defined public employee pension plan say Moody’s made too broad a calculation in setting the plan’s unfunded liabilities and are want the ratings agency to refigure the assets-to-obligations ratio. Moody’s, which includes pension obligations in its overall rating of a state’s credit worthiness, awarded Mississippi an “Aa” rating last October with an outlook of “stable.” The “Aa” ...

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Bond ratings could take hit

Mississippi often ends up high on the list of states with pension fund obligations out of balance with the money coming in to meet the obligations. Is the state’s latest delay in funding an increased share about to accelerate an imbalance that hovers in the $10-billion range? Not according to Pat Robertson, director of the Public Retirement System. Double-digit investment ...

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Increased office vacancies fail to dim outlook for rebound

Metro Jackson’s office market enters 2011 with more empty space than filled, though the regional director of a firm that surveys the local market quarterly says tenant expansions are now more likely than contractions. “We think the contractions have stopped,” said John Barton, senior vice president and senior asset manager for Parkway Properties, a national property management firm that represents ...

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Survey finds decline in home prices in Jackson, rest of state

Metro Jackson housing prices declined more steeply in December than in November, reports CoreLogic HPI, a Santa Ana, Calif.-based research and analytics firm. Statewide, single-family home prices fell in December 3.36 percent compared to the same month in 2009, the researchers reported. Jackson, home prices, including distressed sales, declined by 2.98 percent in December compared to Dec. 2009 and declined ...

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Digital records bill perseveres

Electronically accessible government records have spread slowly across Mississippi, as only a handful of counties that could afford to do so have implemented the systems necessary to provide them. One of the parts of Secretary of State Delbert Hosemann’s business reform legislative package would set guidelines for storing those electronic documents, and at the same time give them the same ...

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