College
of
DuPage
Economic
Indicators
Report
For Period Ending January 31, 2012
Table of Contents
College of DuPage Revenue Indicators
Credit Hour Summary by Term
Tuition and Fee Rates
Property Tax Levy
1
2
3
National Economic Indicators
Real Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Producer Price Index (PPI)
Purchasing Manager's Index (PMI)
Unemployment Rates
State of Illinois Non-Farm Payroll
Dow Jones Industrial Average
Federal Reserve Board Rates
Daily Treasury Yield Curve Rates
Retail Trade Report
Retail Gasoline Prices
West Texas Intermediate Crude Oil Prices
Gold Pricing Trend
4
5
6
7
8
9
10
11
12
13
14
15
16
Local Economic Indicators
Local Homeowner Data
17
Credit Hour Summary by Term
C.O.D. 10th Day Credit Hours Summary
Fall Term 10th Day Credit Hour
Rate of Change
10%
8%
6%
4%
2%
0%
-2%
-4%
-6%
Fall
Summer
600,000
7.53%
562,455
550,000
1.18%
2.14%
-4.57%
547,470
524,055
512,798
-0.84%
-1.46%
506,393
508,823
85,050
487,778
83,895
500,000
81,765
2006FA
2007FA
2008FA
2009FA
2010FA
2011FA
Spring Term 10th Day Credit Hour Rate
of Change
10%
8%
6%
4%
2%
0%
-2%
-4%
-6%
Spring
81,623
79,778
40,808
450,000
400,000
8.36%
0.83%
84,038
236,865
350,000
4.08%
225,045
219,345
218,595
209,085
208,305
210,030
219,675
216,465
219,015
223,695
FY2006
FY2007
FY2008
FY2009
300,000
-2.53%
-0.37%
-4.99%
250,000
2007SP
2008SP
2009SP
2010SP
2011SP
2012SP
200,000
Summer Term 10th Day Credit Hour
Rate of Change
6%
150,000
5.43%
4%
2.68%
100,000
240,540
238,530
227,625
FY2010
FY2011
FY2012
2%
0%
-2%
-0.43%
-1.75%
50,000
-4.02%
-5.29%
-4%
-
-6%
2006SU
2007SU
2008SU
2009SU
2010SU
2011SU
- In FY2010, student drops were not ocurring if students had a FAFSA on file
- In that year, C.O.D. wrote off approximately $5 million in uncollectable receivables.
- New payment policies were rolled out beginning in Fall 2011 term, requiring students to pay their balance
at the time of registration, or enroll in a payment plan. In prior terms, students were allowed seven days
after registration to pay their balance.
Source: College of DuPage Research & Planning 10th Day Reports
Page 1
Tutition and Fee Rates
C.O.D. Tuition & Fee Rate History - Past Five Years
$450.00
Per Credit Hour Rate in Dollars
$400.00
$350.00
$370.00
$359.00
$389.00
$316.00
$319.00
$305.00
$300.00
$250.00
$386.00
$305.00
$296.00
$292.00
In District
Out of District
$200.00
$150.00
$103.00
$108.00
$116.00
FY2008
FY2009
FY2010
$129.00
$132.00
FY2011
FY2012
Out of State
$100.00
$50.00
$-
In-Dist Rate Increase
FY08-09
4.9%
FY09-10
7.4%
FY10-11
11.2%
FY11-12
2.3%
Current Tuition & Fee Rates per Credit Hour Comparison
In
District
School
Elgin Community
Waubonsee
Triton
Harper
Oakton
Moraine Valley
Lake County
South Suburban
C.O.D.
$
99.00
100.00
101.00
118.50
105.60
108.00
109.00
125.75
132.00
Out of
District
Out of
State
$ 336.02
269.43
251.81
375.50
302.48
255.00
249.00
303.75
319.00
$ 445.27
294.92
313.76
451.00
362.76
297.00
330.00
358.75
389.00
Sources: ECC, Waubonsee, Triton, Harper, OCC, MVCC, CLC, South Suburban Colleges web sites; C.O.D. Board Approved Rates
Page 2
Property Tax Levy
Millions
C.O.D. Property Tax Levy Collections - Past Five Years
$120
$100
$81
$101
$89
$85
$105
Tax Levy
Increase
2007
5.6%
$80
$60
$40
$20
2008
4.6%
2009
13.7%
2010
4.3%
$2006
2007
2008
2009
2010
Tax Levy Years
Collected Through 1/31/2012
Uncollected
*Tax levy amounts are net of a 0.5% allowance for uncollectable.
2010 Levy
Levy
2006
(dollar amounts in thousands)
$28,100
Debt Service
27%
Operating
73%
$77,473
(in thousands)
Debt
Operating Service
66,383
14,174
2007
70,045
15,032
2008
73,380
15,643
2009
73,921
27,289
2010
77,473
28,100
Source: College Property Tax Records
Page 3
Real Gross Domestic Product (GDP)
GDP - Percentage Change from Prior Period
1.5%
1.0%
0.5%
0.0%
-0.5%
-1.0%
-1.5%
-2.0%
-2.5%
% Change
2008
Q1
0.1%
2008
Q2
1.0%
Real GDP
Annual Amount (billions)
% change
2008
Q3
-0.1%
2001
10,373.1
2.4%
2008
Q4
-2.2%
2009
Q1
-1.3%
2002
10,766.9
3.8%
2009
Q2
-0.3%
2003
11,414.8
6.0%
2009
Q3
0.5%
2004
12,123.9
6.2%
2009
Q4
1.2%
2010
Q1
1.4%
2005
12,901.4
6.4%
2010
Q2
1.3%
2006
13,584.2
5.3%
2010
Q3
1.0%
2007
14,253.2
4.9%
2010
Q4
1.0%
2008
14,081.7
-1.2%
2011
Q1
0.8%
2011
Q2
1.0%
2009
14,087.4
0.0%
2011
Q3
1.1%
2010
14,755.0
4.7%
2011
Q4
0.8%
2011
15,294.3
3.7%
Source: U.S. Department of Labor Bureau of Labor Statistics
Page 4
Consumer Price Index (CPI) - All Items
(not seasonally adjusted)
Annual CPI-U
% Change from Prior Year
Current Month Inflation Growth (%) - All
Urban Consumers
Annual growth over prior year
U.S. City Average
Annual CPI-U Increase
Year
Increase
2002
1.6%
2003
2.3%
2004
2.7%
2005
3.4%
2006
2.5%
2007
4.1%
2008
0.1%
2009
2.7%
2010
1.5%
2011
3.0%
2012YTD
2.9%
2002
182.400
2.5%
2.9%
2.8%
3.0%
2.5%
2.0%
2.1%
1.9%
1.6%
1.4%
Jan-11
1.5%
Jan-12
1.0%
0.5%
0.0%
U.S.
2003
185.500
1.7%
2004
189.600
2.2%
Midwest
Chicago
Chicago-Gary-Kenosha
CPI-U All Items
2005
2006
2007
2008
196.400 197.800 207.155 205.959
3.6%
0.7%
4.7%
-0.6%
2009
211.185
2.5%
2010
213.778
1.2%
Midwest Average
Annual CPI-U Increase
Year
Increase
2002
1.2%
2003
1.9%
2004
2.4%
2005
3.2%
2006
1.7%
2007
3.8%
2008
-0.3%
2009
3.0%
2010
1.8%
2011
2.8%
2012YTD
2.8%
2011
218.180
2.1%
2012YTD
219.585
0.6%
Source: U.S. Department of Labor Bureau of Labor Statistics
Page 5
Producer Price Index
PPI History Finished Goods - Past Two Years
Annual PPI (Avg)
195.0
190.0
185.0
180.0
175.0
170.0
Jan-12
Dec-11
Nov-11
Oct-11
Sep-11
Aug-11
Jul-11
Jun-11
May-11
Apr-11
Mar-11
Feb-11
Jan-11
Dec-10
Nov-10
Oct-10
Sep-10
Aug-10
Jul-10
Jun-10
May-10
Apr-10
Mar-10
Feb-10
165.0
MayMayJun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11
Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12
10
11
Series1 177.0 179.1 179.5 179.8 179.0 179.5 179.9 180.0 181.2 181.6 182.6 184.4 186.6 189.1 191.4 192.5 191.4 192.4 191.6 192.5 191.9 192.0 191.3 191.9
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
140.7
138.9
143.3
148.5
155.7
160.4
166.6
177.2
172.5
179.8
190.6
191.9
Feb-10 Mar-10 Apr-10
*Note: Annual PPI is calculated using the average of that year's monthly indices.
- The Producer Price Index is a family of indexes that measures the average change over time in the selling prices received by domestic producers of goods and
services. PPIs measure price change from the perspective of the seller.
- An index is a tool that simplifies the measurement of movements in a numerical series. Movements are measured with respect to the base period, when the index is
set to 100. Currently, most PPIs have an index base set at 1982 = 100.
- An index of 110, for example, means there has been a 10-percent increase in prices since the base period; similarly, an index of 90 indicates a 10-percent decrease.
Source: U.S. Department of Labor Bureau of Labor Statistics
Page 6
-1.3%
3.2%
3.6%
4.9%
3.0%
3.9%
6.3%
-2.6%
4.2%
6.0%
0.7%
Purchasing Manager's Index
PMI History - Past Two Years
Annual PMI
60.0
58.0
56.0
54.0
52.0
50.0
48.0
Jan-12
Dec-11
Nov-11
Oct-11
Sep-11
Aug-11
Jul-11
Jun-11
May-11
Apr-11
Mar-11
Feb-11
Jan-11
Dec-10
Nov-10
Oct-10
Sep-10
Aug-10
Jul-10
Jun-10
May-10
Apr-10
Mar-10
Feb-10
46.0
Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11 12
Series1 55.8 59.3 59.0 58.8 56.0 55.7 57.4 56.4 57.0 58.0 57.3 59.9 59.8 59.7 59.7 54.2 55.8 51.4 52.5 52.5 51.8 52.2 53.1 54.1
2001
2002
2003
2004
2005
2006
43.4
50.8
51.7
59.1
54.5
53.2
2007
2008
2009
51.2
45.5
46.4
2010
57.3
2011
55.2
2012YTD 54.1
*Note: Annual PMI is calculated using the average of that year's monthly indices.
‐ PMI is a composite index based on the seasonally adjusted diffusion indexes for five of the indicators (New Orders, Production, Supplier Deliveries, Inventories, and Employment) with varying weights.
‐ A reading of above 50% indicates that the manufacturing economy is generally expanding; below 50%, it is generally declining.
‐ A PMI in excess of 42.7%, over a period of time, generally indicates an expansion of the overall economy. A PMI below 42.7%, over a period of time, generally indicates that the overall economy is in decline. The distance from 50% to 42.7% is indicative of the strength of the expansion or decline.
Source: Institute for Supply Management
Page 7
Unemployment Rates
U.S. Rate
9.2%
9.0%
9.0%
8.9%
9.0%
9.1%
9.2%
Illinois Rate
9.1% 9.1% 9.1%
10.5%
9.0%
10.1%10.0%
9.9% 10.0%
9.8%
10.0%
8.8%
9.5%
8.7%
8.8%
9.5%
8.5%
8.6%
9.0%
8.4%
8.2%
8.5%
8.0%
8.0%
9.1%
9.0% 8.9%
8.8% 8.7% 8.9%
Chicago / Joliet / Naperville Rate
Annual Comparison
12.0%
10.0%
9.8%
9.4% 9.0%
8.7% 8.7%
10.4% 10.5% 10.4%
9.8% 9.7%9.8% 9.3%
8.0%
U.S.
Illinois
C/J/N
6.0%
4.0%
% Change
% Change
From Prior
From Prior
Dec-11 Nov-11 Month Dec-10
Year
8.5%
8.7%
-2.3%
9.4%
-9.6%
9.8%
10.0%
-2.0%
9.2%
6.5%
9.3%
9.8%
-5.1%
8.6%
8.1%
2.0%
0.0%
U.S.
Illinois
C/J/N
2001
2002
2003
2004
5.7%
6.0%
5.7%
5.4%
6.2%
6.6%
6.5%
6.1%
6.2%
6.6%
6.2%
5.9%
*percentages are as of December of each year
2005
4.9%
5.3%
5.2%
2006
4.4%
4.5%
4.0%
2007
5.0%
5.5%
5.2%
2008
7.3%
7.6%
7.1%
2009
9.9%
11.1%
10.7%
2010
9.4%
9.2%
8.6%
2011
8.5%
9.8%
9.3%
Source: U.S. Department of Labor Bureau of Labor Statistics
Page 8
State of Illinois Non-Farm Payroll
Number Employed (in thousands)
6,100
6,000
5,953
5,915
5,861
5,900
5,847
5,987
5,890
5,850
5,797
5,800
5,624
5,700
5,676
5,581
5,600
5,500
5,400
Year
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Annual
Percentage
Change
-0.9%
-1.1%
0.9%
0.7%
1.1%
0.6%
-2.3%
-4.6%
0.8%
0.9%
5,300
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
The Current Employment Statistics (CES) Survey is a monthly survey of business establishments which provides estimates of employment, hours, and earnings data by
industry for the nation as a whole, all States, and most major metropolitan areas since 1939. The CES survey is a Federal-State cooperative program in which State
employment security agencies prepare the data using concepts, definitions, and technical procedures prescribed by the Bureau of Labor Statistics.
Source: U.S. Department of Labor Bureau of Labor Statistics
Page 9
Dow Jones Industrial Average
Dow Jones Quarterly History - Past Four Years
14,000.0
12,319.7 12,414.3
12,000.0
11,350.0
11,577.5
10,850.7
10,428.1
10,856.6
8,776.4
12,632.9
10,913.4
10,788.1
9,774.0
9,712.3
10,000.0
12,217.6
8,447.0
7,608.9
8,000.0
6,000.0
4,000.0
2,000.0
-
2008 Q2 2008 Q3 2008 Q4 2009 Q1 2009 Q2 2009 Q3 2009 Q4 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 2011 Q3 2011 Q4
Annual Average (at end of year)
% change
2001
10,021.5
-7.1%
2002
8,341.6
-16.8%
2003
10,453.9
25.3%
Dow Jones Yearly Facts:
‐ 2001 ‐ By March, 2001, the economy had begun a short recession.
‐ 9/24/11 ‐ Caused by September 11th, Dow dropped 14.3% this week.
‐ 2002 ‐ Corporate scandals including Enron/Arthur Andersen and WorldCom caused the Dow to reach a 5‐year low on 10/9/2002 at
7,286.27.
‐ 2003 ‐ As the U.S. invaded and captured Baghdad, Iraq, stock prices
increased. Congress approved decreases on the tax rate on dividends.
‐ 2004 ‐ Stock prices trended up after President Bush was re‐elected and oil futures prices ended the year higher than the previous year.
2004
10,783.0
3.1%
2005
10,717.5
-0.6%
2006
12,463.2
16.3%
2007
13,264.8
6.4%
2008
8,776.4
-33.8%
2009
10,428.1
18.8%
2010
11,577.5
11.0%
2012
YTD
2011
2012YTD
12,217.6
12,632.9
5.5%
3.4%
‐ 2008 ‐ In September, Fannie Mae and Freddie Mac were taken over by the Federal government. At this time the Dow was at 11,500 and slid all the way to 8,776 to close the year, and was down to a decade low of 6,547 on 3/8/2009, just a few days
following the collapse of Bear Sterns. ‐ 2008 ‐ Four of the top five worst days in Dow history occured in 2008, falling 778, 733, 680, and 679 points on dates falling between 9/29 and 12/1/2008.
‐ 2010/2011 ‐ U.S. unemployment rates have decreased each year, and governments
in Europe continue to move closer to tackling economic issues that have arisen overseas.
Source: Dow Jones Indexes (www.djaverages.com)
Page 10
Federal Reserve Board Interest Rates
Federal Reserve Board Rates
9.00%
8.25%
8.00%
7.33%
7.15%
7.00%
6.00%
5.00%
5.24%
5.15%
4.24%
4.16%
4.00%
3.61%
4.00%
3.00%
2.00%
3.25%
3.25%
3.25%
3.25%
0.04%
0.11%
2011
2012 YTD
2.16%
0.98%
1.00%
0.16%
0.12%
2008
2009
0.18%
0.00%
2003
2004
2005
2006
2007
Federal Funds
2010
Prime
Note: Year end rates are the rates listed at the end of December each year.
Prime Interest Rate:
The interest rate that commercial banks charge their most creditworthy borrowers, such as
large corporations. The prime rate is a lagging indicator.
Federal Funds Rate:
The interest rate that banks charge each other for the use of Federal funds. It changes daily
and is a sensitive indicator or general interest rate trends. One of two interest rates
controlled by the Fed.
Source: Federal Reserve Board (www.federalreserve.gov)
Page 11
Daily Treasury Yield Curve Rates One & Ten Year Maturities
1-year
10-year
4.5%
4.0%
3.8%
3.6%
3.5%
3.4%
3.3%
3.5%
3.7%
3.0%
2.8%
3.0% 2.9%
2.5%
3.1%
3.4%
3.3%
3.3%
2.5%
3.2%
2.8%
2.1%
2.6%
2.5%
2.0%
1.8%
2.2%
1.9%
1.5%
2.2%
1.9%
1.0%
0.5% 0.3%
0.4%
0.0%
0.3%
0.4%
0.3%
0.3%
0.3%
0.3%
0.2%
0.3%
0.3%
0.3%
0.3%
0.3%
0.2%
0.1% 0.1% 0.1% 0.1% 0.1%
0.2%
0.2%
0.2%
0.1%
Note: Monthly rates are from the last day of each month.
Treasury notes (or T-Notes) mature in one to ten years. They have a coupon payment every six months, and are commonly issued
with maturity dates between one to ten years.
The 10-year Treasury note has become the security most frequently quoted when discussing the performance of the U.S.
government bond market and is used to convey the market's take on longer-term macroeconomic expectations.
2002
2003
2004
2005
1-year
1.3%
1.3%
2.8%
4.4%
10-year
3.8%
4.3%
4.2%
4.4%
Note: Rates are from the last day of each year.
2006
5.0%
4.7%
2007
3.3%
4.0%
2008
0.4%
2.3%
2009
0.5%
3.9%
2010
0.3%
3.3%
2011
2012YTD
0.1%
0.1%
1.9%
1.8%
Source: U.S. Department of the Treasury
Page 12
Retail Trade Report
Billions
Retail & Food Service Monthly Sales Estimates - Past Two Years
(not seasonally adjusted)
$500
$450
$400
$350
$300
$250
$200
$150
$100
$50
$-
$460
$434
$365 $362 $372 $365 $368 $369 $352 $362 $373
$315
$395 $389 $401 $397 $392 $402 $382 $387 $398
$342 $344
$361
Trillions
Retail & Food Service Annual Sales Estimates
(not seasonally adjusted)
$5.00
$4.00
$3.47
$3.62
$3.86
$4.09
$4.45
$4.30
$4.41
$4.09
$4.36
$4.69
$3.00
$2.00
$1.00
$0.36
$2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012YTD
Source: U.S. Census Bureau
Page 13
Retail Gasoline Prices - All Grades
3.00
2.50
National
2.00
Midwest
Chicago
1.50
1.00
Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12
National
Midwest
Chicago
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Dollars per Gallon
Dollars per Gallon
4.50
4.30
4.10
3.90
3.70
3.50
3.30
3.10
2.90
2.70
2.50
Dollars per Gallon
3.50
Midwest Region - Past Two Years
4.50
4.30
4.10
3.90
3.70
3.50
3.30
3.10
2.90
2.70
2.50
Annual Prices - Past Ten Years
4.00
4.50
4.30
4.10
3.90
3.70
3.50
3.30
3.10
2.90
2.70
2.50
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Dollars per Gallon
U.S. - Past Two Years
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Chicago Region - Past Two Years
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Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12
1.52
1.66
1.95
2.40
2.21
3.03
1.89
2.76
3.16
3.50
1.49
1.65
1.94
2.34
2.12
2.96
1.85
2.66
3.12
3.39
1.55
1.75
1.98
2.37
2.20
3.10
1.99
2.84
3.29
3.54
West Texas Intermediate Crude Oil (WTI) Prices
WTI Prices per 42-gallon Barrel - Past Two Years
$120
$107
$100
$80
$84
$86
$74
$80
$76
$79
$80
$81
$84
$90
$92
$97
$114
$103
$95
$96
$93
$89
$100 $99
$98
$79
$72
$60
$40
$20
$-
Annual WTI Prices per 42-gallon Barrel
$120
$96
$99
$98
2011
2012 YTD
$90
$100
$79
$80
$61
$60
$40
$61
$45
$43
$33
$20
$2003
2004
2005
2006
2007
2008
2009
2010
Source: Union Pacific Railroad (www.uprr.com)
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Gold Pricing Trend
Gold Price - Ten Year History
$2,100
$1,744
Price per Troy Ounce
$1,800
$1,531
$1,406
$1,500
$1,088
$1,200
$900
$600
$834
$870
2007
2008
$632
$417
$436
$513
$300
$2003
2004
2005
2006
2009
2010
2011
2012 YTD
*Prices taken as of the last day of each year.
‐ Of all the precious metals, gold is the most popular as an investment. ‐ Investors generally buy gold as a hedge or harbor against economic, political, or social currency crises (including investment market declines, burgeoning national debt, currency failure, inflation, war and social unrest). ‐ The gold market is subject to speculation as are other markets, especially through the use of futures contracts and derivatives.
‐ Gold prices are influenced by numerous variables that include fabricator demand, expected inflation, return on assets and central bank demand. ‐ Gold is strongly pegged to supply‐and‐demand patterns. In general, low prices result in low production, and high prices result in high production
Source: London Daily Gold Price Fixing
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Local Homeowner Data
Annual New Privately-Owned Residential Building Permits
(for individual units in DuPage County)
Number of Permits
3,500
3,000
2,500
2,000
1,500
1,000
500
Five or More
Three & Four Family
Two Family
Single Family
2005
690
73
40
2,607
2006
753
24
10
1,858
2007
186
15
1,231
2008
17
3
2
572
2009
22
8
2
416
2010
188
430
2011
6
12
586
*DuPage County comprises approximately 90% of College of DuPage District 502
Source: U.S. Census Bureau
MONTHLY FORECLOSURES BY COUNTY
Dec 2010
554
Dec 2011
457
Jan 2012
448
% Change
Dec '10 to
Jan '12
-19.1%
Cook
4,434
3,688
3,139
-29.2%
-14.9%
Will
637
451
482
-24.3%
6.9%
County
DuPage
% Change
Dec '11 to
Jan '12
-2.0%
Source: The Illinois Foreclosure Listing Service
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