May 31

Urban Institute: Improving GSEs’ Risk Sharing Effort

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Kendall Baer  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago August 30, 2016 1,202 Views The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Tagged with: Fannie Mae FHFA Freddie Mac GSE Risk-Sharing Servicers Navigate the Post-Pandemic World 2 days ago Share Savecenter_img Previous: First Post-Crisis Fitch-Rated RMBS Class Has Been Paid Next: Mortgage Complaints Sit Lower on CFPB Complaint List Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Urban Institute: Improving GSEs’ Risk Sharing Effort Urban Institute: Improving GSEs’ Risk Sharing Effort The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Sign up for DS News Daily Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The credit risk transfer (CRT) process has come a long way since the GSEs began their de-risking effort more than three years ago, according to a recent brief produced by the Urban Institute. They state that in the early CRT deals, the GSEs transferred only synthetic mezzanine risk to a relatively small group of investors in capital market transactions, but now the GSEs are transferring first loss and mezzanine risk to a broader range of investors. Urban Institutes states that the GSEs and the Federal Housing Finance Agency, have accomplished a lot in a short period of time.The authors of the brief note, though, that in order to fulfill its significant potential, CRT still has a way to go. They share that their primary criticism of the framework is that it focuses almost exclusively on how various risk sharing structures might effectively reduce the current risk to the GSEs. Additionally, they state that they feel the FHFA focuses too little on how such structures might contribute to a housing finance system that is more stable and robust over time, and not at all on how these structures might impact consumers or the broader financial system. They then offer their thoughts on what they feel is the best path forward within a broader framework.The brief says that to date, credit risk transfers have been dominated by back-end transactions to transfer mezzanine risk to capital markets. The authors report that as of the end of 2015, the GSEs have transferred at least some of the risk on $693.2 billion of unpaid principal balance through Fannie Mae’s Connecticut Avenue Securities as well as Freddie Mac’s Structured Agency Credit Risk transactions. They compare this with only $131.1 billion through their back-end insurance and re-insurance transactions, and $12.7 billion through front-end risk sharing.Urban Institute goes on to recommend expanding the CRT effort to include greater focus on a wider range of structures and sources of private capital to provide the broader experience and price discovery needed to understand what mix of structures and sources of capital will best serve the housing finance system, not just today but through the business cycle and over the long term. The authors state that these include lender recourse transactions across lenders of all sizes, deep cover mortgage insurance, back-end capital market transactions by loan-to-value ratios and credit score ranges, and catastrophic risk transfers.Urban Institute states that this expanded vision for CRT will extend the experimental phase of the exercise, but they note that now is the time to help answer the critical questions about who should take risk ahead of the taxpayer and how, so that when legislators return to the question of long-term reform they are informed with what Urban Institute feels is needed to lead them down the right path.They also state that although they believe their recommendations are consistent with the FHFA’s existing authority, if the FHFA believes that any are not, then they suggest that FHFA work with Congress. The brief states that given the broad bipartisan support for its objectives, Urban Institute feels it is likely to find a receptive audience.To read the entire brief click HERE. Fannie Mae FHFA Freddie Mac GSE Risk-Sharing 2016-08-30 Kendall Baerlast_img read more

May 31

Building Partnerships in Property Preservation

first_imgWhat role does property preservation play in generating leads for agents and brokers?I think the fact that in the day-to-date conduct of our business, it is a broad spectrum of services that we provide. It could be initial services on a foreclosed property, or it could be renovation repair of an asset and that brings in different trades. That exposes us to different individuals in the communities and those individuals may end up being buyers or sellers of real estate property in the future. There are also cases where we are on site and curious neighbors or friends of neighbors want to view the property. Though we don’t allow this, we are quick to refer them to the listing’s brokers in hopes that the person might get in contact with the broker to talk about assets available. We are always going to turn to the realtor and push that lead toward them to help them get into the mix.What can realtors do on their side to better foster a relationship with those in property preservation?If they have a buyer or a seller and they are preparing a property that they are going to put on the market, there needs to be some preparatory work done to that property. This could be minor to major work that needs to be done to the property to get it prepared for sale but we would like to be in line to get an opportunity to take on that work. This can be accomplished by way of the broker helping refer us on the front end or introducing us to the buyer for follow up work after purchase.What are the main challenges that you are currently dealing with in property preservation?It is two-fold. The first challenge that we are all facing is available workforce with the skills-set necessary to do the work. Because of other industry’s changes, for example the oil and gas industry, a lot of prospective workers have been drawn out that could be potentially usual, but it is about finding the workforce that can take on the hundreds of projects in a given month in various markets.The second challenge is knowing who the players are that handle the assets. The transfer of assets in a portfolio from the lenders to the auction and investment pools change the hands of who is dealing with the property preservation. So our challenge being able to identify who the buyers are that we need to get in front of to do the work. The work hasn’t changed; it is the decision makers who are changing. This means that it could be the traditional asset manager or that it is now a management company setting that is buying and selling properties. Additionally, they could be an income producing company or they could be a flipper. Bottom line is we just need to figure out who we are getting in front of. Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Kendall Baer Previous: The Housing Industry’s Response When Disaster Strikes Next: Clayton Holdings Appoints New Chief Revenue Officer Share Save in Daily Dose, Featured, News Property Preservation truly noble services 2016-10-10 Kendall Baer Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 10, 2016 1,308 Views Tagged with: Property Preservation truly noble services  Print This Post Home / Daily Dose / Building Partnerships in Property Preservation Randy Cecil, President and CFO of Truly Noble Services, spoke with DS News at the 2016 Five Star Conference & Expo to discuss the hand and hand roles that property preservation and agents and brokers play when it comes to asset management, and what the biggest challenges are currently in property preservation. The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Building Partnerships in Property Preservation Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days agolast_img read more

May 31

Preparing Banks for National Flood Insurance Program Deadline

first_img in Daily Dose, Featured, Government, News  Print This Post The Best Markets For Residential Property Investors 2 days ago Banks flood nfip 2019-11-14 Seth Welborn Related Articles Previous: Mortgage Debt Hits New Highs Next: Federal Judge Weighs in on CFPB’s Ocwen Suit Demand Propels Home Prices Upward 2 days ago Tagged with: Banks flood nfip Preparing Banks for National Flood Insurance Program Deadline November 14, 2019 1,259 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily About Author: Seth Welborncenter_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Preparing Banks for National Flood Insurance Program Deadline Data Provider Black Knight to Acquire Top of Mind 2 days ago The National Flood Insurance Program (NFIP) was extended through November 21 earlier this year, but if it isn’t funded again, what can banks do to prepare? Diana Banks, Senior Counsel for fair and responsible banking at the American Bankers Association (ABA), noted in ABA’s journal what banks should do before and after a lapse.A lapse in NFIP funding will impact both loans that have not closed and borrowers with existing NFIP policies.“Remember: flood determinations, disclosures, and notices to borrowers and other regulatory requirements must continue during a lapse,” Banks said. “It’s also important to evaluate safety and soundness risk and adequately document the bank’s management of those risks during a lapse. Remember to consider the overall portfolio risk created by a lapse in coverage, particularly if the bank has a significant amount of loans secured by property located in a special flood hazard area.”After a lapse, Banks notes that banks should heck whether the reauthorization is retroactive, which determines the effective date of coverage for any NFIP policies applied for during the lapse.“ If the reauthorization is retroactive to the date of the program lapse, then NFIP policies are effective as of the date of application and payment,” Banks said. “If the reauthorization is not retroactive, then NFIP policies are not effective until the actual date of reauthorization, at the earliest.”Reauthorization of the NFIP may come with changes in policy. According to Director of the Water & Climate Team at the Natural Resources Defense Council Rob Moore, the existing NFIP is not equipped to handle the financial reality of today’s storms. In an opinion piece published on The Hill, Moore stated that the NFIP’s debt load is growing, as the program, originally intended to encourage communities to take steps to progressively reduce the risk of flooding, has done the opposite. However, new legislation such as the National Flood Insurance Program Reauthorization Act of 2019 may “turn the tide.”“The NFIP bill includes language that would make voluntary buyouts an eligible activity for ICC coverage,” Moore told The Hill. “These are funds that policyholders typically use to elevate a property. Increasing the coverage amount and clarifying that voluntary buyouts are available would simplify and shorten the buyout process, making buyouts a more viable option for residents of flood-prone areas.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

May 31

New York’s Battle Against Zombie Homes

first_imgSign up for DS News Daily  Print This Post Government zombie homes 2019-12-19 Mike Albanese Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago New York Gov. Andrew Cuomo signed legislation granting local cities more power in fighting against zombie properties, according to a news affiliate out of Albany, New York. The law will authorize local governments to compel mortgage lenders to “fast track” foreclosure properties or release the abandoned property to allow for resolution on a local level.”Zombie properties are plaguing communities all across our state, driving down property values and burdening our taxpayers,” Cuomo said. “By making it easier for local municipalities to deal with these abandoned and unmaintained properties, we are helping to preserve homes and protect the quality of life in our neighborhoods.” The New York City Department of Housing Preservation and Development  (NYC HPD) identified over 3,000 zombie homes in the city. Most of the homes are in areas that are still recovering from the impacts of the Great Recession. Leila Bozorg, Deputy Commissioner of HPD, said a large part of this team’s work involves collecting data on such homes and the extent of the challenge of rehabilitating these properties. She told Fox News that new laws allow them to hold financial lenders more accountable once a home falls into foreclosure.NYC has also partnered with organizations like the Center for NYC Neighborhoods to help homeowners who have fallen behind on their mortgage payments to find funds and help prevent the creation of more zombie homes.“We send people out to survey homes to try to document where are zombie homes in New York City and what’s the extent of the challenge,” Bozorg told Fox News.New York neighborhoods such as Central Brooklyn, Southeast Queens, northern Staten Island, and parts of the Bronx, particularly, have a higher number of distressed and abandoned properties compared to the rest of the city, according to HPD data.According to a report by Curbed, the city saw around 18,000 foreclosure filings in 2007, when the foreclosure crisis first hit New York. Today, there are at least 2,000 abandoned and deteriorated homes many of which are in the process of foreclosure.  Subscribe in Daily Dose, Featured, Government, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Government zombie homes Previous: FHFA Issues Update on GSE Guarantee Fees Next: The Next Generation of REO Agentscenter_img December 19, 2019 1,963 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Mike Albanese The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / New York’s Battle Against Zombie Homes New York’s Battle Against Zombie Homes Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days agolast_img read more

May 27

Doherty says Adams will perform strongly in election campaign

first_img WhatsApp Guidelines for reopening of hospitality sector published Newsx Adverts By News Highland – January 29, 2011 Pinterest Facebook WhatsApp Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Almost 10,000 appointments cancelled in Saolta Hospital Group this week Doherty says Adams will perform strongly in election campaign Calls for maternity restrictions to be lifted at LUH center_img Pinterest Google+ RELATED ARTICLESMORE FROM AUTHOR Three factors driving Donegal housing market – Robinson Google+ Twitter Facebook Previous articleThree potential buyers for Gallagher’s fresh bread divisionNext articleMount Errigal Hotel reports significant losses in 2009 News Highland Donegal South-West Deputy, Pearse Doherty has called on a five way economic debate with the finance spokespersons.The Sinn Fein Finance Spokesperson has challenged the Finance spokespersons from the other parties to a live election debate on the economy.Donegal South West Deputy Pearse Doherty says he is confident he can present Sinn Fein’s policies as a viable alternative.He also says  he has full confidence in Gerry Adams in any party leaders debate.The Sinn Fein leader has been accused of “economic ignorance” in the past by Fine Gael spokesperson, Leo Varadker.Pearse Doherty says his party leader is already performing very strongly……[podcast]http://www.highlandradio.com/wp-content/uploads/2011/01/pear2.mp3[/podcast] Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

May 27

Number of windfarms in Donegal set to increase dramatically

first_img Number of windfarms in Donegal set to increase dramatically LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – June 8, 2010 Pinterest Facebook Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey WhatsApp Previous articleGAA – Molloy To Miss Qualifier First RoundNext articleDoherty claims government is blind to the extent of unemployment in Donegal News Highland Need for issues with Mica redress scheme to be addressed raised in Seanad also WhatsApp Pinterest Google+center_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Newsx Adverts Guidelines for reopening of hospitality sector published Calls for maternity restrictions to be lifted at LUH Facebook RELATED ARTICLESMORE FROM AUTHOR Twitter Twitter Donegal’s landscape will be transformed by the construction of more than 50 windfarms over the coming years, new figures reveal.The current number of 117 windfarms across the Republic will rapidly increase over the coming decade to 361 as the Irish government races to meet EU targets which oblige it to produce 40% of all electricity needs from renewable sources by 2020.The structures will be unevenly spread throughout the country with the bulk on the North-west, west and south coasts.Donegal will have no fewer than 52 windfarms by 2020. Kerry will have at least 66, while Cork will have 46.Cavan, Longford and Westmeath will have just one each, while none are planned for Carlow and Kildare.National grid operator EirGrid is responsible for connecting the windfarms with the electricity transmission system.It said yesterday that Ireland was on track to meet a 15% renewable energy target for this year. Google+last_img read more

May 27

National Heritage Week: Something for everyone in Donegal

first_img Twitter National Heritage Week: Something for everyone in Donegal Dail hears questions over design, funding and operation of Mica redress scheme By News Highland – August 18, 2012 Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ Pinterest WhatsApp RELATED ARTICLESMORE FROM AUTHOR News Twitter Facebookcenter_img Man arrested in Derry on suspicion of drugs and criminal property offences released Minister McConalogue says he is working to improve fishing quota Previous articleDonegal Fianna Fail Councillor applies for government seat with UdarusNext articlePrice of diesel and petrol set to hit all time high next week News Highland National Heritage Week  kicks off for a week today with Donegal set to host the fourth highest number of events in the countryBetween now and next Sunday over 90 events will take place across Donegal most of which are free.Only Dublin, Cork and Galway have more.Organisers say there is something for everyone over the next 8 days – Joseph Gallagher, Heritage Officer with Donegal County Council explains more:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/08/josephHERITAGE.mp3[/podcast] Facebook WhatsApp 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Pinterest Google+ Dail to vote later on extending emergency Covid powerslast_img read more

May 27

Rising fuel costs continue to hit motorists and hauliers

first_img Pinterest Facebook Google+ WhatsApp By News Highland – March 8, 2011 HSE warns of ‘widespread cancellations’ of appointments next week Man arrested in Derry on suspicion of drugs and criminal property offences released Google+ The price of petrol has reached a record high, with the cost of a litre of petrol surpassing the 1 euro 50 cent mark at many of the country’s petrol stations.That compares to this time last year when the cost of a litre of unleaded petrol was 1 euro 27 cent.It’s now costing families an extra 1-thousand euro a year to run their cars and AA Ireland is calling on the incoming government to reduce the tax on fuel.The owner of a haulage company in Donegal is reiterating his threat to stage a major blockade across the entire country if the new government doesn’t address the price of fuel.John McLoughlin of JML Fuels recently organised protests in Donegal and Dublin, and met with the Fine Gael leader Enda Kenny to outline his concerns on the eve of the election.He’s repeating his pledge that hauliers will bring the country to a standstill if the problem isn’t tackled……..[podcast]http://www.highlandradio.com/wp-content/uploads/2011/03/jml10.mp3[/podcast] Newsx Adverts Previous articleStrabane woman awarded compensation in negligence caseNext articleMotorcycle found as gardai investigate Muff shooting News Highland Pinterestcenter_img PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Dail to vote later on extending emergency Covid powers RELATED ARTICLESMORE FROM AUTHOR Twitter WhatsApp Rising fuel costs continue to hit motorists and hauliers Twitter Facebook Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republiclast_img read more

May 27

Latest efforts to find missing David Colhoun unsuccessful

first_img Twitter Man arrested on suspicion of drugs and criminal property offences in Derry By News Highland – November 3, 2011 Man arrested in Derry on suspicion of drugs and criminal property offences released Twitter Newsx Adverts Facebook WhatsApp Dail to vote later on extending emergency Covid powers Google+ Previous articleDetails of County Council’s free Hazardous Waste CollectionNext articleMc Hugh confident money can be found to reinstate Foyle Ferry News Highland RELATED ARTICLESMORE FROM AUTHORcenter_img Facebook PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Latest efforts to find missing David Colhoun unsuccessful Pinterest A hi-tech scanner has proved unsuccessful in the search for missing Lifford man David Colhoun.It was the first time the equipment has been used in the Northwest.The 22-year-old has not been seen since escaping from police custody after being arrested for minor offences in Strabane in May.Hundreds of locals, Gardai, the PSNI, Foyle Search and Rescue, the Civil Defence and Searching for the Disappeared have all helped in the search over the past six months.John Wolf, Chairman of  Mallow Search and Rescue in County Cork, who brought the hi-tech device to help in the search, said finding anything was a long shot, but it was worth a try:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/11/wolf1pm.mp3[/podcast] Pinterest HSE warns of ‘widespread cancellations’ of appointments next week Google+ WhatsApp 365 additional cases of Covid-19 in Republiclast_img read more

May 27

Severe traffic delays after crash between Castlefinn and Crossroads

first_img Previous articleGardai won’t discuss new rosters – GRANext articleCondemnation of Castlederg graffiti News Highland Facebook Google+ Facebook By News Highland – January 26, 2010 PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Twitter Gardai are warning of severe traffic delays on the road between Castlefinn and Crossroads following a collision shortly before 5 o’clock.The road is being used as a diversion because of road works on the main road, and gardai say as a result, delays of up to half an hour are being experienced.So far, gardai have not reported any injuries. WhatsApp News Google+ Severe traffic delays after crash between Castlefinn and Crossroadscenter_img Pinterest WhatsApp Twitter Man arrested on suspicion of drugs and criminal property offences in Derry Man arrested in Derry on suspicion of drugs and criminal property offences released Dail to vote later on extending emergency Covid powers HSE warns of ‘widespread cancellations’ of appointments next week 365 additional cases of Covid-19 in Republic RELATED ARTICLESMORE FROM AUTHOR Pinterestlast_img read more