Delinquencies Hit Highest Level in Nearly Three Years

Intercontinental Exchange, Inc. (NYSE:ICE), a global provider of technology and data, reported its November 2024 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

The national delinquency rate jumped 29 basis points (bps) in November to 3.74 percent, its highest level in almost three years, marking six consecutive months of year-over-year increases.

While much of November’s spike was driven by seasonality, post-hurricane distress, and a late-in-the-month Thanksgiving, delinquencies more broadly continue to rise from recent year lows.

Early-, mid- and late-stage defaults all rose in November, with seriously delinquent loans – 90 or more days past due but not in active foreclosure – now at the highest level since February 2023.

Both foreclosure starts and completions dropped in November and remain well below pre-pandemic levels, leaving 31K fewer loans in active foreclosure than at the same time last year.

The bottom 5 States by 12-Month Change in Non-Current* Percentage

Florida

28.13 percent

North Carolina

20.39 percent

South Carolina

17.59 percent

Arizona

15.65 percent

Georgia

12.76 percent.

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

29-Story Project Could Alter Greenville’s Skyline

Groundbreaking for a skyline-changing project in Greenville, South Carolina, is expected in 2025, according to city officials.

The officials said in a Facebook post that the 29-story multi-use development could become the tallest building in the state.

Earlier, the city’s Design and Review Board (DRB) unanimously approved street lighting and landscaping plans for the Gateway project with recommended conditions.

The development at 250 North Church Street is now free to move to the permitting phase, the final step before construction, city officials said.

The site has been vacant since the Greenville Memorial Auditorium was demolished in 1997.

JD Martin Expands Representation of Dialight into North and South Carolina

JD Martin announced the expansion of its partnership with Dialight, a leader in industrial LED lighting technology, into North and South Carolina. 

Officials said the growth strengthens JD Martin's commitment to delivering industry-leading lighting solutions across the Southeast.

The officials said JD Martin has been a partner for Dialight in multiple territories, and the latest expansion enables the company to extend its reach, bringing Dialight's  energy-efficient LED lighting products to distributors, contractors, and end users in rapidly growing markets.

Said Lance Holmes, JD Martin RVP of the Carolinas and Virginia: "Dialight's 

unmatched LED lighting solutions align perfectly with the needs of our customers in these regions who are prioritizing safety, energy efficiency, and operational reliability. We look forward to continuing to drive value and growth for our partners."

JD Martin is an electrical manufacturer representative agency, serving 17 states with a portfolio of solutions, including lighting, wire, cable, and EV infrastructure products. 

Converse University Receives $50K from Power:Ed To Empower First-Generation Students

Converse University in Spartanburg, South Carolina, announced the recent award of $50,000 to fuel its First-Generation program by a grant from Power:Ed, a philanthropy of SC Student Loan Corporation.

Officials said this resource will be applied to enhancing the student experience for 357 Converse students participating in the First-Generation Program.

With a focus on STEAM majors and career readiness, the expansion will provide career-specific immersion experiences, as well as paid student internships on and off campus, the officials said.

“For the First-Generation program, our focus has traditionally been on first-year students and supporting them during their transition from high school to college,” said Daphnie Glenn, director of First Generation Programs and Student Success Initiatives.

Glenn added, “The funding from this grant will empower us to help juniors and seniors focus more intentionally on their careers with STEAM-related field activities, tutors, paid student internships, and career immersion experiences. Helping students learn about their chosen careers will prepare them for future success.”

Converse’s First-Generation Program is celebrating its fourth year supporting this talented and promising group of students.

The program was founded by a grant from Power:Ed that established the rebranding and structure of the program which began in the 2021-2022 academic year.

A first-generation student is someone who is the first in their family to graduate from a four-year institution and has a desire to engage within the college community.

The program offers student mentors, social events, and learning opportunities throughout the academic year.

During the 2024-25 fiscal year, Power:Ed will award $1,000,000 in grants to South Carolina education and career readiness organizations.

Founded in 2019, Power:Ed, the philanthropy of SC Student Loan Corporation, is dedicated to creating opportunities for South Carolina’s youth and adults by supporting low-income, minority, and first-generation students; improving access to college and degree completion; and creating pathways to quality workforce opportunities.

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