The population in the different parts of Wesel, Germany

Wesel is a city in the western part of North Rhine-Westphalia in Germany with an area of 122,56 square kilometers. The city is divided into five city districts: Wesel, Flüren, Obrighoven-Lackhausen, Bislich and Büderich. In Wesel live about 500 people per square kilometer.

All the five districts have different places of residence. The district Wesel has the most places of residence. Their names are Altstadt, Feldmark, Blumenkamp, Fusternberg, Schepersfeld and Lippedorf. Flüren has only one place of residence with the same name Flüren. The district Obrighoven-Lackhausen is divided in the three places of residence named Lackhausen, Obrighoven and Wittenberg. Bislich has four places of residence – Bislich-Land, Bergerfurth, Bislich-Ortskern and Diersfordt. Büderich is divided in three places of residence named Werrich/Perrich, Ginderich and Büderich.

The district Wesel has an area of 26,08 square kilometers and a population of 38.300 people (1.468,6 people per square kilometer). Flüren is the smallest district with 9,15 square kilometers but has a population of 4.792 people (523,7 people per square kilometer). The other districts are bigger than Flüren. The district Obrighoven-Lackhausen has an area of …

Read More

Tracker Mortgage Scandal

A tracker mortgage is a mortgage that has its rate tied to the European Central Bank rate. AIB and other banks looked to force people as many people as it could off of loss-making mortgages. After the market crash in 2008, it became expensive for many banks to borrow. The banks hurt themselves a lot with bad lending practices before the market crash. Once the market did crash, many of the mortgages were actually costing the banks money.

Instead of taking the financial burden, many of the banks looked to be sneaky. They looked to push people off of the mortgages in questionable ways.  The Irish Times estimate that scandal costs have surpassed 1.5 billion Euro.

What is even more crazy is that financial services knew about the banks being suspect. Many people went to court and lost. However, it is believed that many of the banks had a voice on these committees.

PTSB and Springboard Mortgages were the first two banks caught in the scandal. It is estimated that 1,400 people had their loans mismanaged by both companies. Some …

Read More

Industry in Wesel, Germany

Wesel is a city in Germany, North Rhine-Westphalia with about sixty thousand people. There are some different types of industrial companies. One type is the chemical industry which is strongly represented in Wesel with the bigger companies Altana Chemistry and BYK Chemistry and the LGC Standards and Oxoid. The Altana Chemistry was created in 1977 and has about six thousand five hundred employees now and makes a turnover of more than 2,3 billion euros. The BYK Chemistry is a big company too and employs worldwide more than two thousand three hundred employers, thereof about nine hundred in Wesel. They make a turnover of more than one billion euros per year, so they are a bit smaller than the Altana Chemistry. Both companies are important for the inhabitants, because they need many of them as employees.

One more company in Wesel of a different type is Geberit, a well-known manufacturer of sanitary ceramics. They have six locations in Germany. They produce their products since more than hundred years currently with three hundred employees at the location in Wesel. The company produce …

Read More

Mortgage Backed Securities: United States and Ireland

The United States government wants mortgages readily available for people in the market for a new home. In order for mortgages to be available, banks would have to have enough capital to make such loans. In effort to support banks, the United States Congress has federal mortgage organizations to monitor and support the mortgage market. Three federal mortgage organizations that exist are Fannie Mae, Freddie Mac and Ginnie Mae. While these may sound like foolish nicknames for government-created organizations, these organizations are vital for monitoring mortgage banks in the United States. If too much capital is readily available from banks to the public, these government organizations buy mortgages from banks. Upon the organizations’ purchase from the bank, the Federal National Mortgage Association (Fannie Mae), for example, can hold these mortgages until a time of need or sell securities, backed by several of these mortgages, to investors willing to invest in real estate. The capital from the investors’ mortgage-backed securities purchase allows for more loans for new homebuyers, while the investors await return through the new homebuyers’ mortgage repayments. It is …

Read More

The Coronavirus Brought Me To Dublin

As an American student from Boston, Massachusetts studying at Providence College in Rhode Island, I was offered an opportunity to continue my business studies in Shanghai, China. At the time I had to make a decision, the U.S. news reports were filled with articles about escalating trade tensions between the United States and China. Tariffs were followed by retaliation tariffs, back and forth, between both countries and I was nervous the tensions would affect China’s view towards Americans studying in their country. Despite the public tensions, I accepted the opportunity to learn and intern in a large financial hub with a rather booming economy.

As the February 2020 departure was soon approaching, I started to hear fewer and fewer stories about the Trade War, and more and more stories about a rampant epidemic, the Coronavirus. A virus that started in Wuhan had rapidly spread throughout China and even to six individuals in the United States. My concern about how Chinese people would view me altered to a concern of if I could even attend school in China. As the number …

Read More

The 8 Types of Mortgages

Mortgages can be scary for first time buyers. It may help to understand the different types of mortgages when you apply for a mortgage. Here are the 8 most common types of mortgages:

Repayment Mortgage – This is the most typical mortgage. You pay back the principle you borrowed along with the interest applied in fixed (typically monthly) installments. Fixed Rate Mortgage – This means the interest rate that the bank gives you is fixed for a specified period of time. It is a safe mortgage because the monthly payments do not change over time. Standard Variable Rate (SVR) Mortgage – The rate is changed by the banks typically to reflect how the economy is doing. This rate typically follows the LIBOR or Federal Funds Rate set by the central banks. Interest-Only Mortgage – This mortgage pays off the interest before principle. After the interest is paid off, the borrower starts to pay off the principle amount he or she borrowed. Federal Housing Administration (FHA) Loan – These loans protect people who may not be able to pay back their …

Read More

The Qualified Mortgage Patch

In less than a year, the Consumer Financial Protection Bureau (CFPB) is letting the “Qualified Mortgage Patch” (QM Patch) expire. Why does this matter for first time buyers?

The QM Patch states that mortgage buyers must have a debt-to income ratio less than or equal to 43% in order to buy a home. This rule was created to protect borrowers from racking up too much debt. Removing the QM patch could have drastic effects for the European economy. Let me explain:

I grew up living in the United States during the Mortgage Crisis of 2007. It started with many investors looking for low risk high reward profits. They turned to the housing market to buy those loans. Banks would convert thousands of marketable securities and turn them into shares for investors to buy. They believed the investments were safe because house prices were rising dramatically during this time and credit unions gave many of these securities AAA ratings. AAA rating is the best rating a house can receive.

Investors loved these loans because they were very profitable. They started pushing the …

Read More

If you care about housing vote for People Before Profit because… A conversation with Richard Boyd Barrett

Karl sat down with Richard Boyd Barrett of People Before Profit to discuss their housing policy, it was the first in a series of podcasts on housing where we offered to discuss housing policy in a non-confrontational way with parties that may not normally have policies we would focus on. The offer went out to the Greens, Labour, Sinn Fein and PBP as well as the SocDems.

Read More

Irish Insurance Brokers

Insurance brokers can offer a wide variety of services to customers. Some brokers specialize in certain areas of Insurance, investments, Pensions and other financial products. The main benefit of using the services of a broker over say a bank is that with a broker there are a number of different services offered to the client. In most cases banks are tied to an insurance agency so the client can only get 1 quote with them. In a brokerage, you will find a number of different providers with multiple different quotes and rates. This gives the broker some leverage over the insurance agencies in order to get the client the best deal available to them. 

For a potential client, the most time efficient way to price the market for a policy is to use a broker. The broker will offer the most suitable product available at the best price and in many circumstances improve on the policy already in place through a bank. 

There are a variety of insurance products on the market to suit every need. Life assurance on the …

Read More

Safety Nets for Consumers in Mortgage Arrears

According to The Central Bank of Ireland, at the end of June 2019, there were 723,280 private residential (PDH) mortgage accounts for principal dwellings held. Of this, 61,901 accounts still had outstanding payments, also referred to as being in arrears. as of June, there were a total of 61,901 total accounts in arrears. Within that, over 18,000 were within 90 days overdue, almost 5,000 were up to 180 days overdue and a staggering 27,792 accounts were over 720 days overdue. However, at the end of the quarter only 1,407 homes were repossessed. So what protections do homeowners have when they are in arrears? In Ireland there are many codes and acts that are specifically designed to protect the family home from repossession.

The main code that deals with family homes, is the Code of Conduct on Mortgage Arrears (CCMA) which was put into place in 2013. The code is issued by the Central bank and relates to customers in arrears and pre-arrears situation. It does not however deal with investment properties. This code requires mortgage lenders to apply the Mortgage …

Read More