The Shortest Track On Tool’s New Album Will Be Twelve Minutes Long

first_imgIt’s been ten long years since Tool has officially released any new music, though a new album has been discussed for months by the band. Today, we have yet another glimpse inside this possible new release, though it comes from a friend of the band: Buzz Osborne. The Melvins frontman wrote a piece for Team Rock highlighting the Melvins’ best albums, and mentioned a bit of gossip that he heard from Tool’s own Adam Jones.According to Osborne, “Bands like Tool obviously spend about six months on their albums, and they’ve spent about ten years putting together the new one. And they haven’t even started recording yet, but Adam [Jones, Tool guitarist] told me the shortest song they’ve been working on is twelve minutes long.”Wow! Whatever Tool has in store, it seems like it will be truly worth the wait.[H/T Team Rock]last_img read more

Monitor Servicers Have Paid 46B in Relief Since National Mortgage Settlement

first_img Agents & Brokers Ally Attorneys & Title Companies Bank of America Citigroup Court Ruling HUD Investors JPMorgan Chase Lenders & Servicers Principal Reduction Service Providers Wells Fargo 2013-02-21 Krista Franks Brock A year after the nation’s largest mortgage servicers reached a monumental “”settlement””: with 49 state’s attorneys general and several federal agencies, the five servicers have reportedly provided assistance in the amount of $45.83 billion to 550,000 homeowners, according to the “”Office of Mortgage Settlement Oversight””: [IMAGE]The independent settlement monitor released his third progress “”report””: since the agreement Thursday. With the release of the report, HUD Secretary Shaun Donovan specifically touted the efforts made through principal reductions. “”We have already surpassed our initial expectations, and the settlement is a testament to the fact that large scale principal reduction can be used as an important tool in our efforts to prevent foreclosures without incurring negative results,”” Donovan said. The greatest portion of the total $45.83 billion distributed since the settlement went to “”relief to support home ownership.”” About $24.7 billion went to these efforts. Short sales made up another significant portion of servicers’ efforts, totaling $19.5 billion. [COLUMN_BREAK]First-lien modifications totaled $6.04 billion, and active trials in progress currently stand at $3.49 billion. Refinance relieve totaled $2.209 billion, and forgiveness of pre-March forbearance reached $1.37 billion. In the fourth quarter of 2012, servicers doled out $23.9 billion in consumer relief to 276,413 homeowners. A little more than 33,000 homeowners received first-lien modifications amounting to about $3.86 billion in principal forgiveness. Another nearly 120,000 homeowners received second-lien modifications or extinguishments, totaling $8.76 billion. Relief through short sales in the fourth quarter totaled $6.41 billion and went out to 55,580 homeowners. In addition to observing the consumer relief efforts of the five servicers (Bank of America, JPMorgan Chase, Wells Fargo, Citigroup, and Ally Financial) in the settlement, the monitor accepts consumer and professional complaints through his website. He has received 5,700 complaints from consumers across all states. For the first six months, the monitor received about 550 complaints per month. Since November, complaints have averaged about 830 per month. “”This may be the result of greater awareness of my office, the result of persistent servicing issues, or both,”” the monitor stated in his report. Common consumer complaints include issues with loan modifications, changes in single points of contact (SPOCs) or lack of follow-up by a SPOC, requests for the same documentation to be submitted multiple times, and “”questionable or undocumented fees.”” Complaints from professionals also often pertain to loan modifications and customer service issues, according to the monitor. Monitor: Servicers Have Paid $46B in Relief Since National Mortgage Settlement in Servicingcenter_img Share February 21, 2013 445 Views last_img read more