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Non-Profit Gets in on Freddie Mac’s Delinquent Loan Sale

Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago March 23, 2016 1,220 Views Home / Daily Dose / Non-Profit Gets in on Freddie Mac’s Delinquent Loan Sale About Author: Brian Honea Share Save Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Freddie Mac Nationstar Mortgage Non-Performing Loans Non-Profits Freddie Mac Nationstar Mortgage Non-Performing Loans Non-Profits 2016-03-23 Brian Honea Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Non-Profit Gets in on Freddie Mac’s Delinquent Loan Sale Related Articles  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Secondary Market The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Dispelling Myths Around Millennials and Homeownership Next: It’s Still All About the Inventory Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Democratic lawmakers and housing advocates have been calling for the GSEs to sell non-performing loans (NPLs) to non-profits and Community Development Financial Institutions, and on Wednesday, they partially got their wish.Freddie Mac announced as part of a $1.4 billion NPL sale that the winning bidder in two of the pools was Community Loan Fund of New Jersey, Inc. Of the 6,816 deeply delinquent loans sold as part of the auction, 296 of them were included in the two pools sold to the non-profit. According to Freddie Mac, the first pool consisted of 113 loans in Miami, Florida, that were an average of 57 months delinquent, with $27 million in unpaid principal balance (UPB). The second pool consisted of 183 loans in Tampa, Florida, that were an average of 51 months delinquent, with $37.6 million in UPB.Those two pools were sold as Extended Timeline Pool Offerings (EXPOs), which are smaller, geographically-concentrated pools of loans that target participation from smaller investors, including non-profits, minority- and women-owned businesses, neighborhood advocacy funds, and private investors who are active in the NPL market, according to Freddie Mac.The transaction consisted of seven pools total: the two EXPOs and five Standard Pool Offerings (SPOs). The winning bidders in the SPO auctions were LSF9 Mortgage Holdings for three of the pools and Rushmore Loan Management Services for two of the pools. The loans in the seven pools combined were an average of four years delinquent.In March 2015, Freddie Mac’s regulator, FHFA, announced enhanced guidelines for NPL sales by the GSEs aimed at achieving better outcomes for borrowers. Bidders must identify their servicing partners and must complete a questionnaire demonstrating a record of successful loss mitigation. Servicers must apply a “waterfall of resolution tactics” before resorting to foreclosure. Given the deeply delinquent status of the loans, many of them have already been evaluated for are in various stages of loss mitigation. According to Freddie Mac, 34 percent of the aggregate pool balance of loans were previously modified and then became delinquent.In early March 2016, a group of 45 members of the House of Representatives led by Mike Capuano (D-Massachusetts) wrote a letter to HUD Secretary Julián Castro and FHFA Director Mel Watt suggesting improvements to the agency NPL sales programs, including disqualifying “bad actors” from the process and making the programs more transparent. Democratic lawmakers and housing advocates have complained that private investors, to which a majority of the agency NPLs are sold, are more concerned with making a buck than they are with achieving the best outcomes for borrowers and neighborhoods.Earlier this week, Republican lawmakers Rep. Jeb Hensarling (R-Texas), Chairman of the House Financial Services Committee, and Sen. Richard Shelby (R-Alabama), Chairman of the Senate Banking Committee, wrote a letter to Castro and Watt urging them to reject calls to change the agency NPL sales programs, saying that any changes may pose a threat to taxpayers. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe read more

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DSS retirement age to be increased from 60 to 65 commencing January 2012?

first_img Share Sharing is caring! 25 Views   no discussions Dominica Social Security. Photo credit: investdominica.comWith questions surfacing regarding the sustainability of Social Security’s Fund, another recommendation is being made to increase the retirement age from 60 to 65, commencing January 2012.The Dominica Social Security met with stakeholders on Tuesday evening to discuss recommendations coming from the 10th Annual Review of the Social Security.According to the DSS legislation, an actuarial review must be performed at least every three years. The 9th review was conducted in 2005 while the 10th was carried out in 2008.Following recommendations made in the 8th review, several reform measures were passed in early 2007 and 2008 and other were expected to take effect in January 2009.During discussions with stakeholders in January 2010, the actuary noted the unanimous acceptance of these measures. However, two of the most significant measures, supposes to have taken effect in January 2009, have not yet been adopted.Recommendations to have a gradual increase in the normal retirement age from 60 to 65 by one year every three calendar years, starting on January 1st, 2009 and a one percent increase in the contribution rare by the same date are yet to be implemented.The review suggests:“Gradually Increasing the retirement age from 60 to 65 commencing January 2012Option A: increasing the retirement age by one year every three yearsOption B: increasing the retirement age by four months every calendar yearOption C: increasing the retirement age by six months every year.”The review also shows that the ratio of contributors to pensions is continuing to decrease significantly. At Tuesday’s consultation, Director of DSS, Mrs Janice Jean Jacques Thomas said that this is just one of the many challenges facing the board, coupled with the limited opportunities which currently exist for investments.“When the DSS started in 1976 the ratio of contributors to pensioners was 50 to 1. Recent years have shown: 1992 – 50 to 1 and 2008 – 8.5 to 1. It is projected in 2025 the ratio will be 2.7 to 1, 2035 – 2 to 1 and 2045 – 1.7 to 1, if stringent measures are not taken. Non-adoption of these measures would bring the year in which the project reserve is completely depleted from 2038 to 2028 and increase the General Average Premium (GAP) from 17.3% to 21.8%”.Mrs Thomas says although the DSS has been in existence since 1976, the Long-term Benefits Branch has not yet reaches a state of maturity and the cost of pensions expressed as a percentage of insurable earnings is still increasing.She said legislations now need to be implements to safeguard the viability of the Fund.“In order to ensure the proper declaration of earnings to the DSS, especially for self-employed, it would be appropriate that the DSS and the Inland Revenue Division enter into an agreement regarding the exchange of information between them”.Dominica Vibes News Tweetcenter_img LocalNews DSS retirement age to be increased from 60 to 65 commencing January 2012? by: – September 7, 2011 Share Sharelast_img read more

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LinkedIn Aims to IPO Before Facebook Can

first_imgGuide to Performing Bulk Email Verification Facebook is Becoming Less Personal and More Pro… A Comprehensive Guide to a Content Audit Business social network LinkedIn is planning on an initial public offering of stock in 2011, hoping to beat Facebook to the punch and maximize the attention its offering can draw, according to a report tonight by Reuters reporter Nadia Damouni. Damouni cites multiple unnamed sources stating that LinkedIn has already chosen financial underwriters, a precursor to making an offering, though filing financial paperwork could still take months.LinkedIn may not have all the mass consumer glamour of Facebook or Twitter, but many of its 85 million members pay for premium accounts with extra business networking features and the company pitches advertisers with user demographics skewing heavily toward the upper-middle class and above. Those two revenue streams have helped the company grow substantially since it launched in 2003, 1 year ahead of Facebook and 3 years ahead of Twitter.ReadWriteWeb’s Bernard Lunn explained what makes LinkedIn so valuable three years ago. If business contacts and personal work histories are of value or of interest to you, LinkedIn’s market penetration makes it invaluable.I have criticized LinkedIn at every opportunity, however, for making moves that don’t make sense and failing to deliver user data in some of the ways that would be most valuable. The company also insists on adding all kinds of messaging between users, importing Tweets and other such nonsense. It would be great if LinkedIn would stick to business and keep the Tweets on Twitter. I know I visit the site multiple times a day, but the unenthusiastic imported messaging just gets in the way. Several years ago, ReadWriteWeb was scraping pages off of LinkedIn to capture updates about job changes by people in the tech industry. We would then write about those changes, linking to LinkedIn in every one of those posts. The company suspended my account when it found out so I talked to their business development department about the value we sought to add. They asked me how many page views we got each month, said they’d talk about it and never got back to me. I thought that was rather snobby and unhelpful, but it is a company that’s always bragging about how many of its users make six figures, so what do you expect? The company turned my account back on the next time they wanted me to review a new feature, thankfully. Like I said, I visit the site several times a day – and if I could get a feed of just the new jobs taken by my contacts, free of all the clutter of new connections made or recommendations posted, I’d visit LinkedIn all day long.Can the company launch a big IPO? It probably can; as a growing number of business people come online, LinkedIn could become all the more useful. Would an IPO before Facebook’s be beneficial for LinkedIn? That seems like a crap-shoot – the company could ride a wave of investment enthusiasm that arose from a Facebook IPO. It might be safest to go it alone and first, though. The Dos and Don’ts of Brand Awareness Videoscenter_img marshall kirkpatrick Tags:#news#NYT#social networks#web Related Posts last_img read more

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first_imgSEA Games: Biñan football stadium stands out in preparedness, completion SEA Games: Biñan football stadium stands out in preparedness, completion “This is big because winning a championship was the first thing that I had to do when I got traded for Kuya James,” said Lee, who was with Rain or Shine first, in Filipino.“The people will always expect me to win a championship with the Purefoods franchise.”Lee and Yap were involved in that blockbuster of a trade before the start of the 2016-17 season that left the Philippine basketball community in a state of shock.Yap was 34-years-old during the time of the trade and even though Lee, who’s seven years younger, had a similar skill set it was still seen as a surprise.Lee carried a lingering pressure every time he stepped on the court for the Hotshots since he knew he was under a microscope but his Best Player of the Conference award in the Governors’ Cup and the title helped take away some of that burden.ADVERTISEMENT He also hoped that this isn’t the last title that he’s going to win with Magnolia.“I wish the blessings don’t stop coming,” said Lee who had 16 points in the final game of the season. “I’m just so happy right now and I couldn’t ask for anything more. I can’t put everything into words, I’m just very blessed this year.”Sports Related Videospowered by AdSparcRead Next Hotel management clarifies SEAG footballers’ kikiam breakfast issue Replacing the club’s poster boy was a big task in itself but leading the team to a championship, something that Yap has done for seven times including the 2014 Grand Slam, is another beastly burden.But Lee finally got a title to lighten the load that he carried on his shoulders for more than two years.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSUrgent reply from Philippine ‍football chiefLee helped the Hotshots claim their first title since the Grand Slam as they overcame Alaska in six games capped off with a resounding 102-86 Game 6 victory Wednesday in the PBA Governors’ Cup.The championship was the first of Lee’s career with the Hotshots and it also lightened the load that he carried on his shoulders for two years. LOOK: Joyce Pring goes public with engagement to Juancho Triviño Is Luis Manzano planning to propose to Jessy Mendiola? Geje Eustaquio keenly awaits Demetrious Johnson’s ONE debut in Japan Lacson: 2019 budget delay due to P75-B House ‘insertion’center_img MOST READ TS Kammuri to enter PAR possibly a day after SEA Games opening Photo by Tristan Tamayo/INQUIRER.netANTIPOLO CITY—Paul Lee finally delivered on a promise.The mercurial guard wasn’t just some new addition to the Magnolia franchise when he arrived in October 2016–he was the player that the Hotshots got in return for the iconic James Yap.ADVERTISEMENT Private companies step in to help SEA Games hosting View comments LATEST STORIES Don’t miss out on the latest news and information. PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krausslast_img read more

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9 months agoDONE DEAL: Babel happy to make Fulham move

first_imgTagsTransfersAbout the authorPaul VegasShare the loveHave your say DONE DEAL: Babel happy to make Fulham moveby Paul Vegas9 months agoSend to a friendShare the loveFulham have signed former Liverpool winger Ryan Babel from Turkish side Besiktas.The 32-year-old Dutch international, who spent three and a half years at Anfield, has joined the club until the end of the season.Fulham are 19th in the Premier League and five points from safety.”I definitely have faith that Fulham can stay up,” said Babel, who has scored six goals this season. “That’s one of the reasons that I’m here.”Fulham vice-chairman Tony Khan added: “Ryan has excelled at playing attacking football on both the club and international stage, and we welcome that experience as we build our squad for a strong second-half push.”Claudio [Ranieri] and I are confident that Ryan’s return to the Premier League here will be every bit as good for him as his addition will be good for our squad.” last_img read more

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Cabinet Receives Agriculture Ministry Submission Regarding AMC Complex

first_img Cabinet has received a submission from the Ministry of Industry, Commerce, Agriculture and Fisheries, seeking to reverse plans to sell the Agricultural Marketing Corporation (AMC) complex on Spanish Town Road in Kingston. The complex was previously used to package exports and process produce for local distribution. Portfolio Minister, Hon. Audley Shaw, who says the nine-acre property was put up for sale in January 2016, reiterated plans to transform the complex into a modern agro-processing facility. Story Highlightscenter_img Cabinet has received a submission from the Ministry of Industry, Commerce, Agriculture and Fisheries, seeking to reverse plans to sell the Agricultural Marketing Corporation (AMC) complex on Spanish Town Road in Kingston.Portfolio Minister, Hon. Audley Shaw, who says the nine-acre property was put up for sale in January 2016, reiterated plans to transform the complex into a modern agro-processing facility.The complex was previously used to package exports and process produce for local distribution.“We are creating a modern agro-processing centre [under] a public-private partnership [arrangement so] that every young person who wants factory space will be able to get it at the AMC. We need to create the factory and refrigeration space,” he said.The Minister was speaking at the 2019 Jamaica 4-H Clubs National Achievement Expo, at the Denbigh Agricultural Showground in May Pen, Clarendon, on April 5.Mr. Shaw indicated that other agro-processing centres will be established across the island.Among these, he said, are GraceKennedy Limited’s establishment of a food-processing centre at the Denbigh showground; the old National Meat and Food Distributors facility in Lydford, St. Ann, which will also serve as a logistics centre; and a facility in Williamsfield, Manchester.“There will also be establishments in the west, because places like Caribbean Producers Jamaica (CPJ) want to come on board to work with us in processing as well,” the Minister added.Meanwhile, Mr. Shaw congratulated the Jamaica 4-H Clubs for its role in promoting agriculture among the youth, noting that it has provided scholarships valued approximately $70 million over the past three years.“It has disbursed 600 bursaries and scholarships to students pursuing agriculture at the secondary and tertiary level,” he pointed out.The Jamaica 4-H Clubs movement is the second largest globally, behind the United States of America, with approximately 1,050 clubs and over 11,000 members.Meanwhile, Mr. Shaw has endorsed a suggestion by the organisation’s Executive Director, Dr. Ronald Blake, for Jamaica to adopt new food sources as part of the thrust towards achieving greater food security.“I think this needs to be looked at carefully. We need to have an open mind on this,” the Minister said.Dr. Blake, in his address, announced that for the Expo’s staging in 2020, a prize will be awarded to the parish introducing a new food source.He also highlighted several of the organisation’s recent achievements, notably the provision of scholarships to students attending the College of Agriculture, Science and Education (CASE), training initiatives, and the establishment of 567 school gardens.The Executive Director expressed gratitude to the Government of Japan for funding support, through the Japan International Cooperation Agency (JICA), to transform 70 school gardens into climate-smart plots under the United Nations Environmental Programme (UNEP).“I am (also) happy that our Youth Entrepreneur Programme is doing well, as we have recruited 155 young Jamaicans and we are going to be training them in partnership with HEART/Trust NTA, which is investing over $30 million in the programme,” he said.Dr. Blake informed that once the youngsters demonstrate a penchant for farming, they will be “assisted with the venture capital inputs to start their own businesses”.The Expo, which was held under the theme ‘Eco-based Adaptation Strategies: a 4-H Response to Climate-Smart Agriculture’, saw the crowning of the 2018 National 4-H Boy and Girl of the Year, each of whom received a grand cash prize of $1 million.Industry, Commerce, Agriculture and Fisheries Minister, Hon. Audley Shaw (right), converses with 2018 National 4-H Boy of the Year, Sandray Miller (left), and Girl of the Year, Imani Smith, during the Jamaica 4-H Clubs National Achievement Expo, at the Denbigh Agricultural Showground in May Pen, Clarendon, on April 5. The top boy was Sandray Miller of the Spanish Town 4-H Club, while Imani Smith of Morant Bay High School in St. Thomas topped the girls’ category.last_img read more

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Malaysias Bunker Island Project Moves Ahead

first_imgzoomIllustration; Source: Pixabay Malaysia’s Johor Port Authority has signed an agreement with special purpose entity Smart Crest to build a MYR 2 billion (USD 477 million) oil storage and ship refueling site off the country’s South-West coast.The “Bunker Island Development” project will include the construction of two jetties and seven berths with a storage capacity of about 1.2 million cbm. It is expected to be completed in four years.The Malaysian transport ministry noted that the facility would be built with the new IMO 2020 rules in mind and capable of supporting the use of cleaner maritime fuels, according to a Reuters report.Malaysia’s Transport Minister, Anthony Loke Siew Fook, told media that developers were certain that the first phase of the project, the oil tank development, could be completed in two years and subsequently contribute to the funding of the second phase.Johor Port Authority had signed a 30-year sublease agreement with Smart Crest, which is funding the development of the petroleum hub that Malaysia hopes could rival its neighbor state Singapore.World Maritime News Stafflast_img read more

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February 2 2002 construction has reached the seco

first_imgFebruary 2, 2002 constructionhas reached the second level. Reinforcement steel layout and slab formdetails are checked by the crew {TT] The shoring postsbeneath the second floor slab forms are an integral part of themulti-storied construction system. The alignment is adjusted before thebraces are applied to stabilize the system. [TT]last_img

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