Pre-Purchase Counseling Impacts on Mortgage Performance: Empirical Analysis of NeighborWorks America's Experience

NeighborWorks America's (NeighborWorks) nationwide network of affiliates offers pre-purchase homebuyer counseling and education throughout the country. Using information on about 75,000 loans originated between October 2007 and September 2009, Neil Mayer and Associates together with Experian analyzed the impact of pre-purchase counseling and education, provided by NeighborWorks' network, on the performance of counseled borrowers' mortgages. It compares mortgage performance for counseled buyers over two years after the mortgages are originated, compared to mortgage performance of borrowers who receive no such services.The study's findings show that pre-purchase counseling and education works: clients receiving pre-purchase counseling and education from NeighborWorks organizations are one-third less likely to become 90+ days delinquent over the two years after receiving their loan than are borrowers who do not receiving pre-purchase counseling from NeighborWorks organizations. The finding is consistent across years of loan origin, even as the mortgage market changed in a period of financial crisis. It applies equally to first-time homebuyers and repeat buyers

National Foreclosure Mitigation Counseling Program Evaluation: Final Report, Rounds 1 and 2

The National Foreclosure Mitigation Counseling (NFMC) program is a special federal appropriation, administered by NeighborWorks (NW) America, to support a rapid expansion of foreclosure intervention counseling in response to the nationwide foreclosure crisis. As this is a federal appropriation, NW America must inform Congress and other entities of the NFMC program's progress. The Urban Institute (UI) was selected by NW America to evaluate the NFMC program. This report presents the final results from UI's evaluation of the first two rounds of the NFMC program (people receiving counseling in 2008 and 2009), including a detailed analysis of program outcomes first described in preliminary reports of November 2009 (Mayer et al.) and December 2010 (Mayer et al.). According to those reports, homeowners receiving NFMC counseling avoided entering foreclosure, successfully cured existing foreclosures, and obtained more favorable loan modifications. This report updates previous analyses and also includes revised models of several homeowner outcomes for NFMC clients counseled in 2008 and 2009. These new models use an improved comparison sample selection design, which addressed potential issues raised by reviewers of earlier analyses, and a better method for controlling for possible selection bias in the NFMC sample. The additional analyses in this report include models of non-modification cures, non-modification redefaults, and foreclosures avoided

National Foreclosure Mitigation Counseling Program Evaluation: Final Report, Rounds 3 Through 5

The Urban Institute completed a four-year evaluation of Rounds 3 through 5 of the National Foreclosure Mitigation Counseling (NFMC) program. Using a representative NFMC sample of 137,000 loans and a comparison non-NFMC sample of 103,000 loans, the Urban Institute was able to employ robust statistical techniques to isolate the impact of NFMC counseling on loan performance through June 2013.The final evaluation of Rounds 3 through 5 conducted by Urban Institute indicates that the NFMC program continues to have positive effects for homeowners participating in the program Counseled homeowners were more likely to cure a serious delinquency or foreclosure with a modification or other type cure, stay current after obtaining a cure, and for NFMC clients who cured a serious delinquency, avoid foreclosure altogether

Temporal variations in supraglacial debris distribution on Baltoro Glacier, Karakoram between 2001 and 2012

Distribution of supraglacial debris in a glacier system varies spatially and temporally due to differing rates of debris input, transport and deposition. Supraglacial debris distribution governs the thickness of a supraglacial debris layer, an important control on the amount of ablation that occurs under such a debris layer. Characterising supraglacial debris layer thickness on a glacier is therefore key to calculating ablation across a glacier surface. The spatial pattern of debris thickness on Baltoro Glacier has previously been calculated for one discrete point in time (2004) using satellite thermal data and an empirically based relationship between supraglacial debris layer thickness and debris surface temperature identified in the field. Here, the same empirically based relationship was applied to two further datasets (2001, 2012) to calculate debris layer thickness across Baltoro Glacier for three discrete points over an 11-year period (2001, 2004, 2012). Surface velocity and sediment flux were also calculated, as well as debris thickness change between periods. Using these outputs, alongside geomorphological maps of Baltoro Glacier produced for 2001, 2004 and 2012, spatiotemporal changes in debris distribution for a sub-decadal timescale were investigated. Sediment flux remained constant throughout the 11-year period. The greatest changes in debris thickness occurred along medial moraines, the locations of mass movement deposition and areas of interaction between tributary glaciers and the main glacier tongue. The study confirms the occurrence of spatiotemporal changes in supraglacial debris layer thickness on sub-decadal timescales, independent of variation in surface velocity. Instead, variation in rates of debris distribution are primarily attributed to frequency and magnitude of mass movement events over decadal timescales, with climate, regional uplift and erosion rates expected to control debris inputs over centurial to millennial timescales. Inclusion of such spatiotemporal variations in debris thickness in distributed surface energy balance models would increase the accuracy of calculated ablation, leading to a more accurate simulation of glacier mass balance through time, and greater precision in quantification of the response of debris-covered glaciers to climatic change

Emotional Intelligence as a Moderator of Stressor-mental Health Relations in Adolescence: Evidence for Specificity

Emotional intelligence (EI) has been reliably linked to better mental health (Martins, Ramalho, & Morin, 2010), though descriptive associations reveal little about how and when such adaptive outcomes arise. Whilst there is some evidence to suggest that ‘trait’ EI may operate as a protective resource within stress-illness processes (e.g., Mikolajczak, Roy, Luminet, Fillée, & de Timary, 2007), the role of ‘ability’ EI in this regard appears unclear (e.g., Matthews et al., 2006). Moreover, few studies have simultaneously examined relations between EI, chronic stressors and mental health in adolescents. The current study explored whether EI moderated the relationship between a range of stressors (family dysfunction; negative life events; and socio-economic adversity) and self-reported mental health (depression and disruptive behaviour symptomotology) in a sample of 405 adolescents (mean age 13.09 years). Moderated regression analyses found that whilst high levels of trait EI attenuated stressor-mental health relations, high levels of ability EI amplified associations, although both effects showed specificity with respect to stressor type and disorder. Implications for the EI construct and related intervention programmes are discussed

Use of responder threshold criteria to evaluate the response to treatment in the phase III CHEST-1 study

BackgroundIn the Chronic Thromboembolic Pulmonary Hypertension Soluble Guanylate Cyclase - Stimulator Trial 1 (CHEST-1) study, riociguat improved 6-minute walking distance (6MWD) vs placebo in patients with inoperable chronic thromboembolic pulmonary hypertension or persistent/recurrent pulmonary hypertension after pulmonary endarterectomy. In this study, the proportion of patients who achieved responder thresholds that correlate with improved outcome in patients with pulmonary arterial hypertension was determined at baseline and at the end of CHEST-1.MethodsPatients received placebo or riociguat individually adjusted up to 2.5 mg 3 times a day for 16 weeks. Response criteria were defined as follows: 6MWD increase ≥40 m, 6MWD ≥380 m, cardiac index ≥2.5 liters/min/m2, pulmonary vascular resistance <500 dyn∙sec∙cm−5, mixed venous oxygen saturation ≥65%, World Health Organization functional class I/II, N-terminal pro-brain natriuretic peptide <1,800 pg/ml, and right atrial pressure <8 mm Hg.ResultsRiociguat increased the proportion of patients with 6MWD ≥380 m, World Health Organization functional class I/II, and pulmonary vascular resistance <500 dyn∙sec∙cm−5 from 37%, 34%, and 25% at baseline to 58%, 57%, and 50% at Week 16, whereas there was little change in placebo-treated patients (6MWD ≥380 m, 43% vs 44%; World Health Organization functional class I/II, 29% vs 38%; pulmonary vascular resistance <500 dyn∙sec∙cm−5, 27% vs 26%). Similar changes were observed for thresholds for cardiac index, mixed venous oxygen saturation, N-terminal pro-brain natriuretic peptide, and right atrial pressure.ConclusionsIn this exploratory analysis, riociguat increased the proportion of patients with inoperable chronic thromboembolic pulmonary hypertension or persistent/recurrent pulmonary hypertension after pulmonary endarterectomy achieving criteria defining a positive response to therapy