Vermont ranks as one of lowest credit risk states

With Mississippi as the highest and Vermont the third lowest, the TransUnion Credit Risk Index, a statistic developed to measure the changes in average consumer credit risk within various geographies, increased 1.98 percent from 124.79 in the fourth quarter of 2008 to 127.26 in the first quarter of 2009. On a year-over-year basis, the Credit Risk Index increased 7.10 percent (from 118.83 in the first quarter of 2008), the largest increase for that time period in this decade. The Credit Risk Index is defined as the weighted average probability of 90-day delinquency or worse among consumers in a given region relative to the nation as a whole.On a state basis, Mississippi ranks as the riskiest state in the nation with a Credit Risk Index of 166.45. It is followed closely by Texas (162.59), Nevada (158.97), South Carolina (158.76) and Louisiana (153.84). The least risky states include: North Dakota (82.02), Minnesota (88.53), Vermont (91.82), South Dakota (94.75) and Iowa (95.26).The states that experienced the largest quarterly changes included Nevada (4.25 percent increase), Arizona (4.06 percent increase) and California (3.98 percent increase). Though Louisiana’s Credit Risk Index is the fifth highest in the nation, it is the only state that experienced a drop on a quarterly basis of .03 percent. Arkansas experienced a minimal 0.01 percent gain while Vermont increased 0.52 percent.On a year-over-year basis, Arizona (14.82 percent increase), Nevada (14.38 percent) and California (13.82 percent) had the highest percentage increases. The three states with the lowest yearly percent increases included, Alaska (1.51 percent increase), Vermont (2.17 percent increase) and Kentucky (2.85 percent increase).”The Credit Risk Index is a true barometer of today’s economy, and the first quarter of 2009 indicates that the inherent level of credit risk within the U.S. is now 27.26 percent higher than the level reflected in TransUnion’s consumer credit database at the conclusion of 1998,” said Chet Wiermanski, global chief scientist at TransUnion. “Credit Risk Index data suggest that the growth in consumer credit risk has slowed during the past quarter, a positive note. However, the index remains at an all-time historical high, indicating that delinquencies and foreclosures will continue to rise in the coming months.””It is apparent that many of the states experiencing the highest increases in credit risk are the same when looking at the Credit Risk Index statistic on both a quarterly and yearly basis,” said Wiermanski. “This leads TransUnion to believe that consumers in these states will experience prolonged systemic difficulties in both in their ability to satisfactorily repay their existing credit obligations and in their ability to acquire new credit.”While an individual credit score can be quite powerful and accurate in predicting the probability of delinquency for an individual, the average credit score for a specific geography or customer segment does not accurately portray the level of risk existing within that footprint or segment to the same degree as TransUnion’s Credit Risk Index. This is because most credit scores are built on a non-linear scale, so averaging scores does not yield the correct measure of underlying probability of default. Credit Risk Index is a great instrument for gaining insight into the potential impact of external factors on the credit risk and rate of default within a given region, or for a given population segment, precisely because it accounts for the non-linearity of the underlying credit score,” continued Wiermanski.The Credit Risk Index uses the fourth quarter of 1998 as a baseline for comparison. Therefore it measures changes in consumer credit score distributions relative to the national distribution and delinquency rates as a whole at the end of 1998. This is considered by TransUnion as a representative year of credit performance within the usual dynamic of the historical credit cycle. A value of more than 100 represents a higher level of relative risk.TransUnion’s Credit Risk Index reflects the distribution of consumer credit risk as measured by TransUnion’s TransRisk Account Management Credit Risk Model and is a key metric within TransUnion’s Trend Data database. For comparison purposes, the Credit Risk Index in recent years has generally ranged between 110 and 120, experiencing a one- or two-point shift between quarters.TransUnion’s Trend Data databaseThe source of the underlying data used for this analysis is TransUnion’s Trend Data, a one-of-a-kind database consisting of 27 million anonymous consumer records randomly sampled every quarter from TransUnion’s national consumer credit database. Each record contains more than 200 credit variables that illustrate consumer credit usage and performance. Since 1992, TransUnion has been aggregating this information at the county, Metropolitan Statistical Area (MSA), state and national levels.www.transunion.com/trenddata(link is external)About TransUnionAs a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs associates in more than 25 countries on five continents. www.transunion.com/business(link is external)Website: http://www.transunion.com(link is external) Source: TransUnion. CHICAGO, July 9, 2009 /PRNewswire/ — read more

Data breach forecasts: Prepare for holiday cybercrime spree

first_imgTwo cybersecurity reports paint a dreadful end-of-the year picture: one forecasts major data breaches fueling a holiday retail cybercrime spree; the other suggests financial institutions on the hook for any incidents.Fraud increased 30% overall in the third quarter 2019 and bot-driven account registration fraud is up 70% as cybercriminals test stolen credentials in advance of the holiday retail season, according to “The Q4 Fraud and Abuse” by San Francisco based Arkose Labs, which provides a platform combining telemetry with an adaptive step-up challenge to identify bad actors. The study provided insights into the cybercrime ecosystem and how criminals are preparing for large-scale digital commerce attacks in this year’s last quarter.The report analyzed over 1.3 billion transactions spanning account registrations, logins and payments, in the financial services, e-commerce, travel, social media, gaming and entertainment industries, from July 1, 2019 to Sept. 30, 2019. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

Gold Coast penthouse achieved Qld’s highest sale price last week

first_imgAttention to detail was a must in the design. Soak up the view.More from news02:37International architect Desmond Brooks selling luxury beach villa18 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago Unwind while you soak up the Gold Coast’s spectacular skyline. Relax in the luxe bedroom. Cook up a storm in this kitchen.It was originally put on the market at $12.5 million in 2016, with the price later cut to $9.95 million.Mr Bakir bought the ex-Raptis offices from receivers to a company linked to failed share-trading firm chief “Aussie Rob” Wilson for $1.2 million in 2014.He then spent several million dollars turning the space into a penthouse with a “‘wow” factor, aided by design tips from Sunland Group chairman Soheil Abedian. Luxury at every turn. There is no shortage of luxury features here. It even has a lift.It was Queensland’s top sale price last week.The sale tops the city’s previous penthouse high of $9.2 million, set six years ago when Melbourne builder Peter Devitt bought the apartment that crowns Main Beach’s Liberty Panorama tower.The luxurious skyhome at the Towers of Chevron Renaissance, which spans the 39th and 40th floors, is on one of the most popular tourists strips in the country and took two years to build.It has four bedrooms, five bathrooms, 21 car spaces and panoramic views over the city, beaches, main river and Gold Coast hinterland. 3250/23 Ferny Ave, Surfers Paradise was Qld’s top sale last week.THE ink is dry on the sale of a palatial Surfers Paradise apartment, which now holds the Gold Coast penthouse sale record.Property development company owner Ron Bakir sold his apartment at 3250/23 Ferny Avenue for $9.5 million in January but it settled on March 12.last_img read more

Ayre: Reds learned valuable lessons

first_img Press Association Liverpool chief executive Ian Ayre admits the “dark days” of the Tom Hicks and George Gillett era at Anfield taught him and the new owners the importance of long-term sustainability and respecting the club. The Reds’ previous owners drove the Merseysiders to the brink of administration after a disastrous leveraged buy-out, and it has taken successors Fenway Sports Group the best part of four years to put things back on track. Liverpool are a different prospect both on and off the pitch now, and Ayre said hard but valuable lessons had been learned. He cited the example of the recent signing of Italy striker Mario Balotelli as an instance where they have upped their game since the infamous incident of the club shop being closed the day after Liverpool won the Champions League in 2005. “I read a stat the other day that we sold £50,000 worth of Balotelli shirts on the day he signed,” added Ayre, speaking at Soccerex in Manchester. “You have to be geared up for that. In the past Liverpool had the situation where they had success or an opportunity and did not capitalise on that, but those days are long gone. “The signing of Mario was never about commercial opportunity, it was about football and it always will be. But it shows you the power of the Liverpool name and the power of a player like Mario. “That is what Liverpool is about, having huge reach and success around the world. “When you have big opportunities you have to be able to capitalise on them.” Ayre believes Liverpool are now entering a different phase where they can look to consistently challenge their rivals on and off the pitch after running big-spending Manchester City close in the title race last season. “We have to be realistic and ambitious and optimistic at the same time,” he said. “Brendan said very recently finishing in the top four and qualifying from our Champions League group would be our two core objectives. “You could say progress would be winning one more game and winning the league (they finished two points behind City), but as long as we acquit ourselves as we did last season I think we will be in great shape. “You set out to win, but we were very pleased with where we got to and surpassed all our expectations. “While we were ahead of where we expected to be, we certainly made the progress we expected to make, to break into the top four and improve the squad, and again this summer I feel we have been able to do that. “The ambition and desire and commitment is there and it will be down to how other people acquit themselves and how the numbers add up.” “It is great for our supporters because they went through a difficult time and it is always devastating to see such a great tradition and establishment as Liverpool being in such great difficulty,” he said. “It taught us the importance of sustainability and running the club properly. No-one wants to go back to those dark days again. “There was a lot to focus on: we had to improve the squad overall and that took investment at a time when we had little cash and a lot of debt. And it is testament to our new owners that they invested heavily and we started to improve the on-pitch side. “It was also important to put in the pieces to take the business of the club forward, because in a world of Financial Fair Play and sustainability they are the things which generate the revenue to buy the players. “It was a five-year plan and I am pleased to say it has been successful on all fronts, and the club has not been in such great health. “It is pleasing to know we are on a great footing, have fantastic owners who believe in sustainability, believe in putting the club where it should be and treating it with the respect it should have. “As long as we continue with those values we will be in good shape.” The implications of FFP have increased the significance of commercial success, and Ayre believes in that area the club have matched the progress made by manager Brendan Rodgers on the field. last_img read more

Alderweireld focus on European push

first_img Press Association Eyebrows were raised last summer when the 26-year-old moved to St Mary’s on a season-long loan, just months after playing for Atletico Madrid in the Champions League final. Alderweireld’s form on the south coast has attracted interest from the likes of Manchester City and Tottenham, but Ronald Koeman’s side have the option to make the deal permanent for just £6.8million. “It is has been a very nice season,” Alderweireld said. “We like to play football, we have a good team and we have good results. “We are playing for the European spots so I am happy.” The win over Hull was unconvincing but gave Southampton’s faint top-four hopes a boost. Bettering the fifth place of 1985 looks a big ask but not impossible after James Ward-Prowse’s penalty and a late Graziano Pelle strike. “We just have to look to ourselves and not to look to other teams,” Alderweireld said. “We know we have six games left, so it is going to be a hard sprint. “The games are all tough, like next week Stoke away. It is a very difficult game, but we are going to try and win our games. “We know we have Tottenham at home so we can do good business, but first we have to go to Stoke and that is going to be difficult.” The result leaves Hull further in the mire given they face an unenviable run of fixtures from now until the end of the season. City have a two-week break before their next match at Crystal Palace, where Michael Dawson knows they need to put Saturday’s disappointment behind them. “It is a massive disappointment,” the Hull skipper said. “The first half, I thought we got right at them and I think (goalkeeper Steve Harper) Harps probably made one save. “We were hoping to do the same in the second, but goals change games, big decisions in games. “The yellow card incident where Alex (Bruce) is covered in claret, where (Graziano Pelle) has caught him flush straight in the face, t hat for me is a red card, but obviously with the penalty the ref got that right. Two big decisions. “There was a lot more chances created by us than them, but at the end of the day we go away with no points which is a massive disappointment for us. “The teams in and around us are winning, so it’s about ourselves. We need to starting picking up some points.” Toby Alderweireld is ignoring the background noise about his future, such is the on-loan defender’s determination to complete Southampton’s “special season” by securing European qualification. The Belgium international has expressed a desire to stay at Saints, but the waters are muddied by Atletico’s ability to nullify the buy-out clause by paying them £1.5million. Jose Luis Perez Caminero recently indicated the Primera Division club would invoke that clause, saying Diego Simeone’s men were counting on him for next term, but Alderweireld is unclear whether he will be at St Mary’s, the Vicente Calderon or elsewhere. “I saw something in the Spanish papers,” Alderweireld told Press Association Sport. “I don’t know, I didn’t hear from them. We will see. “It is not (frustrating) because it does not matter what they say, what is in the papers. “I am just focused on Southampton and we are playing for a European spot, so it is going to be a special season. “I am focused, I am happy here, so, yeah, no problem for me.” Alderweireld has been one of Southampton’s best players in a remarkable season. Many predicted a relegation battle for Koeman’s men, yet Saturday’s 2-0 win against Hull saw them equal the record Premier League points tally of 56 set last year. last_img read more