The Hawai'i Undersea Research Laboratory at the University of Hawai'i was awarded $2.9 million by the National Oceanic and Atmospheric Administration for fiscal year 2009, according to a joint announcement yesterday by U.S. Sens. Daniel K. Akaka and Daniel K. Inouye.

"These resources support important research that enhances our understanding of deep-sea ecosystems, while sustaining U.S. leadership in this field," Akaka said in a news release.

Inouye added, "The Hawai'i Undersea Research Laboratory is vital to the study and understanding of deep ocean processes. The continued funding of this laboratory maintains the vast potential for new discoveries and continues to broaden our understanding of deep-sea geology and its impact on ecosystem and climate change."

The Hawai'i Undersea Research Laboratory is the Hawai'i and Western Pacific headquarters for NOAA's Undersea Research Program.

STATE BANKRUPTCY FILING RATIO 2ND LOWEST

Hawai'i had the second-lowest bankruptcy filings per 1,000 people among the 50 states during the year that ended on June 30, though the rate is up from a year earlier.

The Administrative Office of the U.S. Courts released data showing there were 2.07 bankruptcies here per 1,000 population between the start of July 2008 and the end of June 2009.

Only Alaska, with a ratio of 1.38, had a better rate. Nevada had the nation's worst rate at 9.33 per 1,000 people during the 12-month period.

The statistics show Hawai'i's bankruptcy filings totaled 2,673 during the year ended June 30, a 68 percent gain from a year earlier.

Hawai'i's filing rate also increased from the prior year when there were 1.24 bankruptcies per 1,000 people.

13.6% OF MORTGAGES IN NEGATIVE EQUITY

The percentage of mortgages on Honolulu homes in negative equity positions is less than half the rate nationally, according to new data from First American CoreLogic.

The financial research company said 22,333, or 13.6 percent of all Honolulu homes with a mortgage, were in negative equity as of June 30. Nationally, more than 15.2 million mortgages, or 32.2 percent of all mortgaged properties, were in negative equity.

A home mortgage is considered to be in a negative equity position when the value of the home falls below the outstanding balance on the loan used to purchase the home.

Nationally, the aggregate property value for loans in a negative equity position was $3.4 trillion, which represents the total property value at risk of default.