Editor

Voluntary boil order for St. Peters subdivisions

July 27, 2022 by Editor

ST. PETERS, Mo. – The City of St. Peters issued a voluntary boil water order for customers in three subdivisions due to a water main break on Monday.

A spokesperson for the city water department says they have no reason to think the water is unsafe, but the advisory has been issued for customers in Savannah, Country Hill Farm, and Southwood Drive until the division confirms the water quality. That process usually takes 48 hours before confirming if the water is safe for consumption.

Any water used for cooking or drinking should be brought to a boil for three to five minutes and allowed to cool beforehand.

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The water may be used for bathing, a city spokesperson said.

Residents are advised to look for discolored water. That can be a sign of mineral deposits being dissolved into the water. If that happens, people should run cold water from their faucet for approximately three minutes.

Updates on the boil order will be posted online at www.StPetersMo.net. The St. Peters Water Department will answer questions regarding the advisory at 636-477-6600 (ext. 1573).

Originally Appeared Here

Scooters remain banned in Downtown STL until 2023

July 27, 2022 by Editor

ST. LOUIS – Seven weeks after banning the use of electric scooters in Downtown St. Louis and Downtown West, the city announced Tuesday that the ban has been extended until the end of the year.

Director of Public Safety Dan Isom sent a letter to scooter companies Lime and Bird informing them of the decision. The matter will be revisited in early 2023.

In the meantime, scooter sharing will remain available in several other neighborhoods in the city.

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The city halted scooter operations on June 6 over what Isom described as “a string of public safety incidents.” Residents had complained of fights and violence coupled with large gatherings of juveniles.

That weekend prior to the ban, two teenage girls had been wounded in a shooting.

Residents said the elimination of scooters downtown has helped. Isom said those neighborhoods are experiencing quieter weekends.

Originally Appeared Here

Mortgage delinquency rate rebounds after hitting record lows

July 27, 2022 by Editor

The national mortgage delinquency rate rose in June after hitting consecutive record lows in each of the previous three months.

The overall delinquency rate rose nine basis points to 2.84% in June, according to Black Knight. The delinquency rate is 35% lower than the same period last year and remains 30% below pre-pandemic levels.

A total of 1.51 million properties were in early-stage delinquencies, defined as borrowers who missed a single mortgage payment, which is a 5% increase from May.

“Early-stage delinquencies have been gradually rising over the past year and a half – ever since hitting record lows early in the pandemic, as borrowers availed themselves of forbearance options,” said Andy Walden, vice president of enterprise research and strategy at Black Knight.

Some 599,000 properties were considered seriously delinquent, in which loan payments are more than 90 days past due, but not in foreclosure. That metric broke a 21-month streak of improvement with a 1% uptick from the prior month.

Mississippi had the highest rate of serious delinquency of 2.43% in June. Louisiana followed at 2.11% and Alabama was third at 1.77%.

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Foreclosure starts were also up 27% to 23,800 in June, representing the highest share of serious delinquency at 4% since March 2020.

“Foreclosure starts increased due to a modest rise in the share of serious delinquencies being referred to foreclosure,” said Walden. While foreclosure starts were up in June and far above the near standstill of activity in 2020 and 2021, they still remain well below pre-pandemic levels.

Active foreclosure inventory rose by 16,000 last month as volumes continue to slowly come off the record lows brought on by widespread moratoriums and forbearance protection in 2020 and 2021, according to Black Knight.

Prepayment activity fell by 7% in June from May with prepays now down 64% from the same time last year as rising rates put downward pressure on both purchase and refinance lending.

Purchase mortgage rates exceeded the 5% mark this year compared with rates at the 2% level in 2021. With rising rates, the loan origination volume is expected to drop by about 40% to $2.4 trillion in 2022, led by a dip in refis.

Originally Appeared Here

Mayor Lightfoot reveals 3 proposals for Soldier Field

July 27, 2022 by Editor

CHICAGO, Ill. — Mayor Lori Lightfoot revealed plans Monday of the city’s efforts to keep the Chicago Bears on the lakefront.

One of those plans could be used as an incentive to keep the Bears from packing up and heading to northwest suburban Arlington Heights.

There are three options on the table as a part of Lightfoot’s proposals.

Option 1: Fully enclose the stadium by rebuilding both end zones with columns that can support a dome structure

Option 2: Rebuild both end zones with columns to make the stadium dome ready.

Option 3: Modify Soldier Field to be a multi-purpose stadium better suited for soccer while improving its flexibility to accommodate major concerts and a range of events.

Mayor Lightfoot introduces 3 concepts for future of Soldier Field: building a dome, keeping open air but dome ready, or multi-purpose concept. First 2 would increase capacity from 61,500 to 70,000 @WGNNews pic.twitter.com/dSsPcVXIVx

— Dana Rebik (@DanaRebikWGN) July 25, 2022

It is unclear how much each option will cost the city and Chicago taxpayers, but the mayor’s office anticipates the costs to range from $900 million to $2.2 billion in total.

On top of the expanded total seating for options 1 and 2, the mayor’s office anticipates the cost-benefit of the Bears improving Soldier Field versus building a new stadium to be in the ballpark of $1 billion to $1.5 billion or more.

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Here are other proposed expansions and improvements listed in the three proposal options:

Increase the number of traditional suites from 133 to 140.
Add six new major clubs and experiential areas.
Quadruple the food and beverage square footage from 50,000 square feet to 200,000.
Add secondary club and activation areas to as many as 20.
Dramatically expand the opportunity for major sponsorships and naming rights.
Create more flexible event spaces and multi-purpose venues including up to 4 venues with capacities ranging from 5,000 to 60,000 or more.

Last year, the Bears purchased Arlington Park for close to $200 million. The team’s lease at Soldier Field runs through 2033.

However, the Bears could break that lease by paying the city $84 million in 2026.

Originally Appeared Here

Online Security for Missouri takes “More Than a Password” – Missouri Magazine

July 27, 2022 by Editor

By Phil Kirk Regional Director, Cybersecurity, and Infrastructure Security Agency (CISA)

Cybersecurity. If you had not heard that word much in the past few years, unfortunately you’ll be hearing it more and more in the future.

As Regional Director of the federal government’s newest agency, whose job it is to help protect against cyberattacks, I know this word well. But for many individuals, organizations and agencies, this is a new word being thrust upon you and you are left wondering – what is the cyber threat to me and my community, and what can I do about it?

First, the threat is real. Malicious actors in Russia, China and other parts of the world are working to disrupt or disable our infrastructure by hacking into our IT systems. Cyber criminals are looking to profit from poor cybersecurity practices through ransomware. Critical infrastructure like power grids and water treatment systems are being targeted. County and city governments are being targeted. Individuals are also increasingly being targeted.

The question you need to be asking right now is, “Am I, or my organization, prepared to respond and defend against cyberattacks?” Far too often across Missouri, the answer to that question is “no.”

So, what does cyber protection for a business or organization look like? It’s two-fold – investments in cybersecurity – and working with your Information Technology (IT) and IT Security staff to ensure the right defenses are in place now.

Let’s start with the first one – Investment in cybersecurity. Many view it as a sunk cost. We invest in IT security and what do we see from it? No new buildings, or faster computers, or improved government services. However, what you do get is peace of mind knowing you’ve done all you can to secure your data and the avoidance of a costly intrusion that could shutter the vital services you provide to your citizens.

Investing in cybersecurity should be a priority of businesses and organizations at all levels. It is that critical because this problem is not going away anytime soon and will only worsen over time.

The next step is to get to know your IT Security leaders. Seek their advice. Ask them; What is our cyber risk? How do you know if something is wrong? What information and systems are we protecting? Do we have a plan if something does go wrong?

For individuals, I encourage you to visit CISA’s “More Than a Password” campaign webpage at More Than a Password | CISA. This campaign aims to demystify another phrase you may have also heard recently, “multi factor authentication”. Whether you call it multi-factor or two-factor authentication, requiring more than a simple password to login to your online accounts can make you 99% less likely to get hacked.

Think of it like an airbag or the seatbelt in your car—an extra layer to keep you safe in the event of an accident. We need to get the word out that to stay safe online, every American needs to have “More Than a Password” on all their sensitive accounts.

I encourage everyone to also visit the CISA “Shields-Up” webpage at Shields Up | CISA. Here you can find the latest national cyber alerts to get a feel for the types of cyberattacks impacting our country along with a host of other information like the “Known Exploited Vulnerabilities Catalog”, and cybersecurity “Recommendations for Corporate Leaders and CEOs”.

On the website you’ll also find some basic tips for practicing good cyber hygiene such as:

Use strong authentication across your systems including unique passwords and multi-factor authentication.
- Ensure your software is up to date and use anti-virus software
- Train your staff – think before you click.
- Prepare to respond if an incident happens. Have staff on-hand and ready to help.

Collaborating with individuals, the Missouri business community and municipalities across the state is a core element to our work. It also happens to be a great way to fight cyberattacks. If we partner together to defend our systems against malicious threats, we can all learn from each other and improve our defenses, collectively.

Whether you know it or not, you are on the front lines of our nation’s cyber defenses. Good cybersecurity not only protects your community, but it also protects America’s security.

Now is the time to put our collective shields up and rely on more than a password to secure our online accounts, Missouri. I challenge the citizens of the Show-Me State to lead by example. Take the time to protect your online accounts. You’ll be glad you did.

Phil Kirk Regional Director, Cybersecurity, and Infrastructure Security Agency (CISA)

Originally Appeared Here

Strangers help to fill teacher’s supply lists

July 27, 2022 by Editor

ST. LOUIS, Mo. – Country music radio station 92.3 FM WIL is asking their Facebook fans to do something nice for St. Louis area teachers. Listeners are helping them fill their school supply lists for the upcoming school year. The station wants people to, “Pick a random list and buy an item or two! Let’s clear these lists!”

Several dozen teachers have posted their lists to the Facebook post. Some of them left comments thanking the radio station and strangers.

“This is so thoughtful of you! I teach second grade! ❤️ Thank you for supporting local teachers,” writes Katie.

“Thank you for doing this! It’s my 18th year but first year teaching second grade. I’ve been expanding my STEM collection and purchasing things to provide full flexible seating for my students next year in my new classroom,” states Christina.

“Thank you so much for supporting us and giving back to children everywhere! They deserve it!” exclaims Amber.

Originally Appeared Here

Delmar Loop Trolley is returning on August 4

July 27, 2022 by Editor

ST. LOUIS – After three years of not being in service, the Delmar Loop Trolley is set to return on August 4 after a week of safety checks starting on Wednesday, July 27.

“I think it’ll add to the overall vibe of the neighborhood,” said King Creer, a sophomore at Washington University sophomore.

Another student expressed their thoughts on the trolley returning.

“It sounds cool, I think it’ll be a fun little thing to ride,” said Christina Youngpeter, a Ph.D. student at Washington University.

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A resident said they are not happy about the idea of the trolley coming back.

“It’s a good concept in theory, but I just feel like it was poorly pulled off and they could have done so much more to help this area,” said Loop resident, Amy Jordan.

Before it restarts, the trolley will undergo safety testing and operator training from Wednesday, July 27 to August 3.

Afterward, it’ll be reviewed and adjusted before starting back up on August 4 as part of a three-month trial program.

Safety is a big concern for local businesses.

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“This is a well-traveled thoroughfare and it slows stuff down and the traffic on the street is still not excellent,” said Anthony Brescia, Assistant General Manager of International Taphouse.

The trolley will share lanes of traffic but is not able to steer around cars, pedestrians, or anything in its path.

“I can’t tell you how many times, I’ve heard people get hit or have their cars hit by the trolley,” said Jordan. “Safety is always a good thing if they can find a way to make it work so that it isn’t so problematic to drivers. In general, I’m all for it, but really at the end of the day, I kind of wish they would just put it to bed.”

The revamped trolley will be managed by the Trolley Transportation Development District, Bi-State Development, and Metro Transit.

The trolley will follow the 2.2-mile route on Delmar Boulevard between the University City Library and the Missouri History Museum in Forest Park.

The ride will be free for the first three months.

The trolley will run from August 4 through October 30 on Thursdays, Fridays, and weekends from 11 a.m. to 7 p.m.

Originally Appeared Here

Kansas election officials to conduct required test of public election equipment

July 27, 2022 by Editor

KANSAS CITY, Mo. — While many voters in Kansas have already cast a ballot ahead of next week’s primary on Aug. 2, election officials are working to make sure equipment used to tabulate the votes will be ready.

Kansas Secretary of State Scott Schwab said Monday that Kansas law requires election officials to test tabulation equipment used in all 105 counties across the state.

“This testing is an additional step to provide voters with assurance their vote is captured accurately and securely,” Schwab said in the release. “I encourage Kansans to observe this process.”

The testing includes feeding proper and improper ballots through the tabulation machines to ensure accuracy.

Schwab says anyone who is interested in observing the election testing should contact their county’s election office.

Following the election, the machines will be checked again.

—

Originally Appeared Here

GeekCraft Expo showcased geeky items from local businesses

July 27, 2022 by Editor

ST. LOUIS – GeekCraft Inc. hosted their annual GeekCraft Expo over the weekend at Webster University in Grant Gymnasium.

The two-day event is a marketplace that features fandom-inspired handcrafted items like mugs, journals, keychains, purses, and more. Local Missouri businesses that specialize in unlocking your inner child and geek occupy each Expo.

The goal of the event is to invest in the community by keeping all customers’ money where they live. Founder and comic book writer of The Incredible Hulk, Deadpool, and Wolverine Daniel Way, explained his reasoning behind the family-owned business.

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“When I came up with this idea my thinking was that if it was successful, then it would get copied a lot,” Way said. “I was worried that the copies would be bad and they wouldn’t have the same goals in mind as we do which is to focus on this community of geeky handcrafters and give them a buyable market.”

The event now tours nationwide and plans to host a GeekPop in Hawaii late this year. Information on the event is to be determined.

Stay up to date on GeekCraft Expos by following the GeekCraft Expo Facebook page or visiting their website.

Originally Appeared Here

Even in a down market, lenders lean on LO signing bonuses

July 27, 2022 by Editor

Gone are the days that loan originators received hefty signing bonuses to crank out refi after refi. But make no mistake, even in a down mortgage market lenders are still dangling signing bonuses to recruit high-producing LOs who can eat what they kill.

Signing bonuses are still here to stay for distributed retail LOs because top-producing LOs have always been in demand, said Jim Cameron, author of a report on signing bonuses from Stratmor Group. Distributed retail is still a relationship-based business, especially in a purchase-dominated market.

“Good LOs have strong referral partner relationships and a deep set of relationships with prior customers in the communities in which they live,” Cameron said.

“Independent mortgage bankers are more likely to ramp up and down aggressively as market conditions ebb and flow,” Cameron added. “They must — it’s a matter of survival.”

According to the report, it was not uncommon for signing bonuses to be in the range of 75 to 100 basis points on volume in 2020 and early 2021, when retail margins were 150 to 200 bps.

“While the estimated reduction in signing bonuses is up for debate and may vary greatly by market and specific facts and circumstances, it is not hard to imagine that they are down materially given the drop in volumes and margins,” Cameron said.

In addition, high-producing LOs often have a “free agent” mentality with an average turnover in the 30 to 40% range and an average tenure of around three to four years.

Focused on building a personal brand, LOs are more likely to jump ship if another lender offers a better deal, another reason why signing bonuses are here to stay.

Signing bonus amounts paid this year declined by 50% from what one sales executive saw in 2020 and 2021, but are not yet down to 2018 levels.

In 2018 and early 2019, LOs who received signing bonuses in the 20 to 30 bps range would not have been out of the ordinary when profit margins were in between the 40 and 50 bps range, Cameron said.

Lenders have better data and tools to understand the viability of prospective loan officers, Cameron said.

While reviewing W-2 information and screenshots of production information from LOs were common, third party data sources provide the amount of purchase loans, refis, and production volume trends.

“While ubiquitous data on loan originators may level the playing field, it also increases the already sky-high recruiting intensity for top producing LOs in both good markets and bad,” Cameron said.

With the overall mortgage production in the U.S. expected to drop more than 40% this year to $2.4 trillion origination volume, independent mortgage banks are focusing more on purchase loans.

Recruiting battles for LOs remain fierce but it could take a few months to land especially through outbound recruiting, mortgage executives and LOs previously told HousingWire. Though signing bonuses aren’t as generous as they were during the boom, many LOs making a move are receiving better compensation at their new firm.

“Our industry knows that the process of going into a marketplace trying to find experienced originators is a very competitive and somewhat of a lengthy process,” said Paul Buege, CEO of Inlanta Mortgage.

Originally Appeared Here