Congressman Responds to House Subcommittee Bill, Says GSE Funds Should Go To Reduce Deficit

first_img 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Tagged with: Congressman Ed Royce GSE Funds House Committee on Appropriations THUD Appropriations Subcommittee Home / Daily Dose / Congressman Responds to House Subcommittee Bill, Says GSE Funds Should Go To Reduce Deficit Sign up for DS News Daily in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Congressman Ed Royce GSE Funds House Committee on Appropriations THUD Appropriations Subcommittee 2015-04-30 Brian Honea Previous: GSEs Would Need Up To $157 Billion Bailout in Economic Downturn Next: Credit Trends in Mortgage Insurance Drive Strong Q1 for Radian Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Congressman Responds to House Subcommittee Bill, Says GSE Funds Should Go To Reduce Deficit Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea  Print This Post April 30, 2015 1,175 Views The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago U.S. Representative Ed Royce (R-California) responded to the FY 2016 Transportation, Housing, and Urban Development (THUD) Appropriations Subcommittee funding bill released earlier this week by saying money from the GSEs should be used to reduce the national deficit instead of being allocated to housing groups.The new THUD Appropriations bill would essentially eliminate the Housing Trust Fund but would instead direct GSE money into the HOME Investment Partnerships Program, which is a federal block grant that provides states and localities with a flexible funding source to meet their diverse affordable housing needs.Royce and other Republicans were highly critical of Federal Housing Finance Agency Director Mel Watt’s decision in December to lift the suspension of GSE funds into housing groups such as the Housing Trust Fund and Capital Magnet Fund, saying the diversion of GSE money to those groups violates the 2008 Housing and Economic Recovery Act and puts taxpayers at risk.In January, Royce responded to Watt’s action by introducing the Pay Back the Taxpayers Act of 2015, which states that no funds from the GSEs can be used to fund the housing groups while the GSEs are in conservatorship or receivership and requires that any payments already allocated or set aside should instead be used to reduce the deficit.”While I’m supportive of keeping money siphoned away from the GSEs out of the hands of ideological housing groups, I’m concerned about the precedent set by redirecting money from the Trust Fund to other housing programs,” said Royce, who is a senior member of the House Financial Services Committee and a member of the Capital Markets and GSEs Subcommittee and the Housing and Insurance Subcommittee. “A better solution would be passage of the Pay Back the Taxpayers Act, which requires any money diverted from Fannie Mae and Freddie Mac go to paying down our federal deficit.”The Housing Trust Fund and Capital Magnet Fund were created in 2008 as part of the Housing and Economic Recovery Act, but funding of the groups was suspended shortly after the government seized control of Fannie Mae and Freddie Mac in September 2008. The government provided the enterprises with a combined $187.8 billion bailout shortly thereafter. Current law requires FHFA to suspend the allocation of GSE funds to housing groups if payments would contribute to the financial instability of the GSEs, cause the enterprises to be undercapitalized, or prevent the enterprises from successfully completing a capital restoration plan.Watt’s decision to lift the suspension of GSE funds from those housing groups was met with mixed reactions. While many Republicans vehemently opposed the move, many progressives praised Watt’s decision, saying it created more homeownership opportunities, especially for low-income Americans. Subscribelast_img read more

Leading the Field

first_img Although the humble Californian would be the last person to call himself a kingpin, Keith Guenther certainly fits the description in more ways than one. First, he’s the founder, CEO, and central figure of U.S. Real Estate Services, better known as USRES, a national real estate service provider offering REO disposition, valuation services, and technology products. He’s also been a legitimate bowler since he was 10 years old, having at one point in his young adult life even considered going professional.But there are still more parallels between Guenther’s participation in sports and his business success; namely, the ability to balance individual with team performances, the wisdom and judgment of a seasoned coach, and the enjoyment of incredible staying power over the decades (not unlike bowling itself)—this year USRES celebrates its 25th anniversary.REO disposition, valuation services, and technology products have been around for a long time, and aren’t going anywhere. In fact, one could argue there’s nothing radical about the nuts and bolts of what USRES does—and Guenther would probably be the first person to admit that. What makes USRES special is not what its business is, but rather how it does business.In an industry notorious for its ups and downs, Guenther has expertly leveraged a trifecta of qualities to help his company weather the real estate storm cycles. He’s a keen observer and listens well to his clients’ requests. He trusts his employees to do what they need to do, when they need to do it. And he’s not afraid to take a less-than-common route if it’s the right thing to do for his business and the industry. More importantly, however, he’s done an impressive job of passing these lessons on to his team.GETTING INTO THE GAMEA near ringer for actor Sam Elliott in his Conagher days (with a matching mustache, to boot), Guenther founded USRES in 1992. At that time, rising interest rates, overdevelopment in commercial real estate, deregulation of savings and loan lending standards, and reduction in capital reserve requirements had converged. The United States was in the throes of the early 1990s recession, and multiple industries were reeling from the savings and loan crisis and accompanying real estate market slowdown. The Resolution Trust Corporation (RTC), created specifically to clean up the S&L mess, closed or resolved more than 700 savings and loans institutions between 1989 and 1995. Additionally, by 1991, construction on new homes had plummeted to its lowest rate since World War II. New construction prices had also fallen, and it would take six years for above-inflationary growth to return them to normal.Having been in the real estate industry for years, Guenther had already served time as an agent and managed offices, including a real estate office for major industry player Tarbell. But it wasn’t until a conversation with a fellow broker that the idea occurred to him to start his own enterprise. The industry buzz was that there was a need for real estate agents to help with the valuation side of things, and then, later on, with disposition. Guenther explains that the real estate market runs in 10-year cycles, and that he and others could see the savings and loan “debacle” coming based on what they’d experienced in the ’80s. Ultimately, he took the plunge. “We started with the savings and loan problem, the RTC auctions and all of that property,” he explained. “A lot of people didn’t understand what short sales were, which we were doing some of at the time, in the very beginning, so they said there was a need for companies like that. But this was all new. Obviously there had been REOs forever, but it was always in small pockets here and there, and there were certain agents that did it. It wasn’t nearly as large of an industry back then.”UPDATING THE TECHNOLOGYUSRES began making a name for itself in BPOs, appraisals, REO disposition, and default valuations in Southern California in its early years. But even as USRES was taking off, the industry’s technology, or lack thereof, was a major limiting factor. Guenther describes the landscape in the 1990s and even early 2000s as being in dire need of standardization and general organization. At that time, there were no widely accessible databases for listing real estate agents and other service providers crucial to the business, so Guenther began building his own.“Probably, if there’s anything that I’d say we led with, [it] was the technology,” he says. “When we started building all the technology that later became RES.NET, it was all for ourselves, because I realized there was no way we were going to be able to do all of this without having all of these databases, having all of this information,” he said. “I’m not a big tech guy, but it made sense. And it all just grew from there.”An online platform that can be used by agents, servicers, vendors, and consumers,RES.NET is a wholly owned subsidiary of USRES and was built to streamline all processes related to asset handling. Launched in 2003, RES.NET makes connecting, communicating, document trafficking, and report generation possible for users, with different levels of registration and access, depending on the user’s role. Appraisers, title companies, and eviction companies can register for free in order to receive business from others in the RES.NET community. Agents can choose from three subscriptions with varying degrees of resources and benefits, such as the ability to submit offers, add short sales, complete BPOs, manage properties, communicate with consumers, and store documents, task their own brokers or assistants, and even gain exposure to more than 140 servicers. They say timing is everything, and there’s no denying Guenther’s timing with RES.NET was perfect—industry demand was high and the internet was catching on like wildfire. (The percentage of American adults using the internet climbed from 52 percent in 2000 to 61 percent by 2003, the year USRES unveiled its technology solution.) “I always knew the need was there,” he said confidently.But aside from the monumental task of creating RES.NET in the first place, another challenge Guenther points out came in the form of standardization. What should be included on a BPO form? Should lots be described in terms of square footage or acreages? These and countless others were among the questions Guenther and his team had to resolve to bring RES.NET to life.“In those days, it was all faxing this and faxing that—you could barely read it. And how did you standardize what they would send you and the quality of what they send you?” Guenther noted. “We worked very diligently to do that. Unlike with appraisers, there has always been a standard for all of it, but with BPOs, it was the back of a piece of paper to just a few comps to whatever, and we just standardized that.”More than merely getting RES.NET off the ground, Guenther and his team—which currently numbers 100 employees across both the USRES and RES.NET sides—were formulating a better way to do business, dictating how processes would be carried out in the business moving forward, essentially shaping their industry. Not too bad for someone who’s “not a big tech guy.”And although RES.NET may have come second, it’s now one of USRES’ primary differentiators. Guenther credits the control his business has over the technology as being key, specifically the ability to update the software to include whatever they want, as frequently as they want. “We built an enterprise system, meaning it changes, week in, week out, month in, month out. So you’re not buying a software that’s going to get outdated,” he says.The CEO explains that clients’ needs and wants are all heard and recorded, and when RES.NET sees trends forming, those dictate the next round of upgrades. To build out major changes, such as new modules, Guenther says his company does some back and forth with clients who essentially agree to sponsor the work. The client provides data and intellectual property, RES.NET leverages said data to build a finished product that meets the client’s needs, and everyone wins.WORKING AS A TRUSTed TEAMThe process for evolving RES.NET is just one example of how the team’s ability to learn from their efforts and listen to a client serves them well. It’s an aptitude that comes naturally to Guenther and one he’s worked hard to instill in his staff. “We go in as a company and say, ‘Here’s what we do, what else do you need done? How can we fix those holes that you have with the expertise we provide?’” he explains.CFO Michael Bull is quick to point out, however, that just because technology plays such an important role in the business these days, USRES still practices human-to-human interaction at every opportunity. “Nowadays, it’s so easy to send an email and only work by emails,” he said. “A lot of us who grew up in this company realize that and know how important that still is.”It’s a perspective that’s also shared by Angela Hurst, SVP of Strategy and Development. “It’s a delight to be able to work with customers, to work with prospects and truly sit down with them … and say, ‘What is it you need? What is it you want?’ If one customer’s having a hard time, chances are, that’s a pain point with several other customers.” However, Hurst points out that it isn’t her job to always say yes. In fact, she says no a lot, which she says is never fun. “But I find that clients are so appreciative of being asked. … [the] mutual respect I think is put in place, because I think therein lies integrity. … [and] without integrity, it doesn’t matter what kind of product you have if you lack that.”This mindset among the leadership team was born of USRES’ beginnings as a service provider, a business type that undeniably lives or dies by the quality of care it can deliver to clients. Eventually, after USRES had an actual product to offer in the shape of RES.NET, that same “customer-comes-first” mentality survived and spread into every aspect of how the company does business. It’s why a number of their clients have been with them for 15, even 20 years.Guenther calls building that kind of client loyalty a “lost art.” He insisted, “You need to find out what is [the client’s] pain point? Because if you can fix that, then you become a partner. Once you become a partner, then you have open communication with your client. Then it’s very easy to grow and know: What direction do I go in? What products? Listen. The client will tell you.”Rida Sharaf, SVP of USRES Operations, said, “We’ve always run the company with a ‘mom-and-pop’ type of feel. Our clients always have access to us. If the client doesn’t wish to go through an automated call center, we will make it so. So customer service is still paramount.”The fact that USRES’ employees have so capably picked up Guenther’s customer service torch and ran with it says a lot not only about their skills, but also about the CEO’s leadership style. In many ways, Guenther’s staff members paint him as their big-hearted coach, a veteran leader who encourages his team to cultivate their own problem-solving skills and who generally supports their game-time decisions. Sharaf stated, “We have a very unique management hierarchy, which enables all of us business unit leaders to really put forth honest input without fear of being labeled as someone who’s nonconformist. So we’re able to be very creative, and you know, credit given to our CEO, he puts a lot of trust in us and he sometimes will allow us to make the decision that we think is the most prudent.”This trust encourages staff to leverage their collective brainpower and experience. Guenther says he believes this helps the employees feel like they’re integral to the company, which fosters ownership in their actions that fosters a deep sense of caring.“As companies grow, you have to let go,” explained Guenther, a father to five and grandfather to seven. “I’m a sports guy, so I take a lot from coaching. I can’t play the game when I’m coaching. My job is to be able to get the right people to do it.” He continued, “I think my style, more than anything, is to stay away from cloning myself. A lot of people I know, who have been in the industry, they want to have likeminded people because they feel like a team. I do pretty much the opposite. I want to get people who see things differently than I do.”NEXT QUARTER AND BEYONDIn addition to really hearing clients and fostering a culture of empowerment among the entire staff, USRES’ willingness to adapt to the economic times has granted the company admirable longevity. The company experienced rapid growth in 2006 and 2007, totaling more than 300 employees at one point to keep up with demands that were increasing as the housing bubble began to deflate. By then, the reputation USRES had built for itself over the past decade, along with the healthy client relationships and their new technology, RES.NET, positioned them well for business.Guenther says the next bubble is coming, although it won’t be anything like the last one the country saw. And until the next wave of REOs arrives, he’s looking to add more products to RES.NET. Rob Pajon, SVP of Marketing and Product Development, said USRES recently launched a valuations portal. But what he’s most excited about is RES.NET’s forthcoming product called PropertyCure. Designed to solve issues of workflow fragmentation, PropertyCure will ultimately provide clients with a new dashboard from which they can enjoy an overview of their property preservation and claims processes. Pajon explained that historically the databases, image repositories, vendor management systems, and others used by clients don’t communicate well with one another. Hence, the need for multiple portals within RES.NET. But this will all be improved with PropertyCure’s implementation—it will go live with select clients by the end of July.Pajon said relationships with hedge funds and investors in the Wall Street space will be another focus for the company in the days ahead. “[They’ve] become more of the end decision-maker,” he said, explaining that right now he sees these industry influencers trying to acquire nonperforming loans, meaning they’re in need of good valuations to ensure they’re getting a good return on the investment. Pajon also points out rental prices are currently high, so the company is training all its agents how to do rental analysis reports in an effort to offer additional value to their clients.Suffice it to say, no matter what USRES has to weather in the future, Guenther and his team will continue to trust one another, to uncover clients’ pain points and, well, maybe even invent a new way of doing things, if that’s what the climate of the industry demands. “We listen and we come up with solutions,” Guenther said. “Whether it’s by hand or technology, you’ve got to be able to do it differently.” Major points, Coach. Demand Propels Home Prices Upward 2 days ago Keith Guenther REO RES.NET 2017-07-04 Marie Look Tagged with: Keith Guenther REO RES.NET Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Foreclosure, Headlines, News, Print Features, REO, Technology The Best Markets For Residential Property Investors 2 days ago About Author: Marie Look Servicers Navigate the Post-Pandemic World 2 days ago Marie Look is a writer and editor specializing in technology and luxury lifestyle content. She’s worked with print and digital publications across the country, and was the founding editor-in-chief of Modern Luxury Scottsdale magazine. Most recently, she built content teams for two West Coast technology startups. Sign up for DS News Daily Previous: They Don’t Spend Like They Used to Next: Strangled by Restriction—Effects of Disastrous Appraisal Training Mandates Leading the Field Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Leading the Field July 4, 2017 1,972 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Real Estate Crowdfunding Earns $10 Million in First Week

first_imgSubscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Home / Daily Dose / Real Estate Crowdfunding Earns $10 Million in First Week Real Estate Crowdfunding Earns $10 Million in First Week Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Crowdfunding Tulsa Real Estate Fund Previous: Texas City Tops U.S. Migration Destinations Next: The Week Ahead: FOMC Meeting to Announce Rate Hike? Atlanta-based real estate mogul Jay Morrison recently launched a new real estate crowdfunding program, and it’s finding some strong early success, having raised nearly $10 million in its first week.The Tulsa Real Estate Fund is described as “the first African-American owned Regulation A+ Tier II crowdfund designed to revitalize urban communities across the U.S.” According to the group’s press release, the Tulsa Real Estate Fund “allows both accredited and non-accredited investors to collectively invest and own real estate projects around the country that are unique, diversified, and yield a reasonable rate of return.”The Fund is seeking to raise as much as $50 million in equity capital during its initial public offering, which launched on June 1 and raised $8 million in its first weekend alone. By the end of the first full week, that number hit $9.6 million.”Tulsa Real Estate Fund was created for the sole purpose of the revitalization of urban communities across America, as well as a means for working class people to own shares and equity in a portfolio of real estate assets that will combat gentrification,” said Jay Morrison, CEO and Manager of the Tulsa Real Estate Fund.As described in the press release, the Fund will work to “perform comprehensive redevelopment of both people and real estate in key urban areas” and allow for “socially conscious individuals and financial institutions the opportunity to invest in the people and real estate in local communities that matter most to them.” Projects will include single-family, multifamily, commercial, and agricultural projects.”Tulsa Real Estate Fund is the perfect economic vehicle for the urban community to collectively pool its more than $1.3 trillion in spending power to effectively control and revitalize our neighborhoods,” Morrison continued. “With the current tone in Washington, D.C., urban neighborhoods across the country will not have control of their dollars, real estate, or small businesses for the foreseeable future. As a result, urban neighborhoods across the country are being redeveloped by individuals who do not have the best interests of the community in mind, which often leads to the displacement of longtime residents due to increased property values, thus making the cost of housing in our communities unaffordable. We believe Tulsa Real Estate Fund is the solution to this rapidly growing problem.”You can view a short video explaining the Fund below. Related Articles June 10, 2018 3,581 Views Share Save Demand Propels Home Prices Upward 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 Sign up for DS News Daily About Author: David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Crowdfunding Tulsa Real Estate Fund 2018-06-10 David Wharton in Daily Dose, Featured, Investment, News Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

HUD Reviewing $8.2B Homeowner Relief Efforts in Puerto Rico

first_img Demand Propels Home Prices Upward 2 days ago Share Save HUD Reviewing $8.2B Homeowner Relief Efforts in Puerto Rico  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Previous: EXOS, Blend to Enhance Digital Mortgage Experience Next: First American Title Appoints VP of IT Strategy Tagged with: Disaster Harvey HUD Puerto Rico The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / HUD Reviewing $8.2B Homeowner Relief Efforts in Puerto Rico 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. Disaster Harvey HUD Puerto Rico 2019-06-14 Seth Welborn Sign up for DS News Daily center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Loss Mitigation, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago June 14, 2019 2,931 Views Housing and Urban Development’s (HUD) acting Deputy Secretary Brian Montgomery told Caribbean Business that HUD is reviewing an action plan submitted by the government for a second group of funding totaling $8.2 billion on top of the original $1.5 billion given in February.“We are reviewing the action plan and developing a grant agreement,” Montgomery told Caribbean Business“The mitigation group of money is $15.9 billion for the whole United States; Puerto Rico gets $8.3 billion of that but that is long-term investment. We, at HUD, still need to publish a federal register notice for all states that are going to get money including Puerto Rico. That would be longer term,” he added.President Donald Trump recently signed the Bipartisan Disaster Recovery Funding Act, which provides $19.1 billion in recovery funds for disaster-affected areas including Puerto Rico. U.S. Reps. Randy Weber and Lizzie Fletcher introduced the Bipartisan Disaster Recovery Funding Act in May with support from 13 other co-sponsors from Texas, mostly from the Houston area, as well as supporters from other communities waiting on the funding, including Louisiana, South Carolina, Florida, and Puerto Rico.The Act directs federal agencies to release the $16 billion in disaster funds Congress approved in early 2018 following Hurricane Harvey to different states and territories—including more than $4 billion to Texas—within 60 days.“After Harvey hit, I fought alongside the Texas delegation to secure additional funds for Harvey survivors,” said U.S. Rep. Mike McCaul. “Unfortunately, the agencies tasked with distributing these funds did not respond with the same urgency.”The Five Star Conference will host its Disaster Preparedness Symposium on July 31 in New Orleans, Louisiana. Natural disasters impact investors, service providers, mortgage servicers, government agencies, legal professionals, lenders, property preservation companies, and—most importantly—homeowners. The 2019 Five Star Disaster Preparedness Symposium will include critical conversations on response, reaction and assistance, to ensure the industry is ready to lend the proper support the next time a natural disaster strikes. The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articleslast_img read more

FHFA’s Foreclosure and Eviction Moratorium Extended Again

first_imgSubscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Phil Hall January 19, 2021 13,427 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 The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac will extend their moratoriums on single-family foreclosures and real estate owned (REO) evictions through February 28. The moratoriums were set to expire on January 31.The foreclosure moratorium applies only to single-family mortgages backed by the government-sponsored enterprises (GSEs), while the REO eviction moratorium applies to properties that have been acquired by the GSEs through foreclosure or deed-in-lieu of foreclosure transactions.The FHFA is projecting the GSEs will carry additional expenses of between $1.4 billion and $2 billion due to the existing COVID-19 foreclosure moratorium and the latest extension. However, FHFA Director Mark Calabria put the human costs related to the COVID-19 pandemic before the financial costs to the GSEs.“To keep our communities safe, and families in their homes during the COVID-19 pandemic, FHFA is extending Fannie Mae and Freddie Mac’s foreclosure and eviction moratorium,” said Calabria in a press statement.Separately, Calabria’s time at the helm of the FHFA might be coming to an abrupt close. According to a Bloomberg report citing anonymous “people familiar with the matter,” President-elect Joe Biden’s domestic policy team have been reviewing strategies on ousting Calabria from his position. Calabria is a Trump appointee from 2019 and his terms expires in 2024, and the FHFA director is not a position that allows the president to remove the office holder at will.However, a case before the U.S. Supreme Court will determine if the FHFA director can be removed in the same manner as the director of Consumer Financial Protection Bureau (CFPB). Last year’s Supreme Court ruling on ruling last year on Seila Law V. CFPB determined that a president can remove a CFPB Director at will instead of for a specific cause. The Bloomberg report speculated that the Biden team is eager to replace Calabria, a former chief economist for Vice President Mike Pence, with either Susan Wachter, a professor at the University of Pennsylvania’s Wharton School of Business, or Mark Zandi, chief economist at Moody’s Analytics.A Biden transition spokesperson declined to comment on the story and an FHFA spokesperson insisted that Calabria was committed to completing his full term. Share Save Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Previous: Fannie, Freddie’s Conservatorship Fate Left to Biden Administration Next: Forbearance Effectiveness During a Financial Downturn in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Evictions Fannie Mae Federal Housing Finance Agency Foreclosures Freddie Mac Mark Calabria President-Elect Joe Biden FHFA’s Foreclosure and Eviction Moratorium Extended Again Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHFA’s Foreclosure and Eviction Moratorium Extended Again Evictions Fannie Mae Federal Housing Finance Agency Foreclosures Freddie Mac Mark Calabria President-Elect Joe Biden 2021-01-19 Phil Hall The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago  Print This Postlast_img read more

Residential planning permissions down by almost half

first_img RELATED ARTICLESMORE FROM AUTHOR Pinterest By News Highland – December 15, 2009 Google+ Facebook Pinterest Twitter Twitter Google+ WhatsApp 448 new cases of Covid 19 reported today Facebookcenter_img The number of planning permission applications being granted for houses in Donegal has plummeted by almost half in one year.Figures from the Central Statistics Office show a national drop of 53.5 % in the third quarter of the year, compared to the same time last year.In the third quarter of 2009 there were 190 planning permission granted in County Donegal – that compares to 360 over the same period in 2008 a drop of 47% – slightly lower than the national average.However reduction in the amount of permissions granted stands at 51% when compared to 2007.Less people are either applying or being granted permission to extend their property – however the fall isn’t as steep standing at 30%.Overall across the country planning permissions for dwelling units, including housing and apartments, are down nearly 44 per cent on last year’s figures. WhatsApp Previous articlePublic urged to keep am eye on their neighboursNext articleLocals protest over Drumfries Tetra mast News Highland Calls for maternity restrictions to be lifted at LUH News Three factors driving Donegal housing market – Robinson NPHET ‘positive’ on easing restrictions – Donnelly Help sought in search for missing 27 year old in Letterkenny Residential planning permissions down by almost half Guidelines for reopening of hospitality sector publishedlast_img read more

Cllr McBrearty calls on Health Minister to take over running of Letterkenny General

first_img Facebook WhatsApp Twitter Twitter Cllr Frank McBreartyA Donegal County Cllr is reiterating his calls for a independent judicial public inquiry at Letterkenny General Hospital after a report showed significant evidence of non-compliance with HSE procurement policy at the hospital.An internal HSE audit has found several areas of non-compliance, the report found that the hospital breached compeition and transparency rules between 2008 and 2012.Cllr Frank McBrearty, who is a member of the HSE Western Forum, says he or no other member where made aware of this report.He says its time for the Health Minister to step in and take control of the hospital, until an investigation is carried out:[podcast]http://www.highlandradio.com/wp-content/uploads/2014/02/frank.mp3[/podcast] Cllr McBrearty calls on Health Minister to take over running of Letterkenny General RELATED ARTICLESMORE FROM AUTHOR Facebook News By News Highland – February 14, 2014 448 new cases of Covid 19 reported today Previous articleOrange weather alert as another Atlantic storm set to hitNext articleUpdate – Road conditions improve after heavy afternoon snow News Highland center_img Pinterest Three factors driving Donegal housing market – Robinson Google+ Pinterest Google+ Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly WhatsApp Calls for maternity restrictions to be lifted at LUH Help sought in search for missing 27 year old in Letterkenny last_img read more

Bundoran lifeboat rescues stranded boaters

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Bundoran lifeboat rescues stranded boaters By News Highland – April 16, 2012 WhatsApp Facebook Google+ Twitter Pinterest Facebook WhatsApp Calls for maternity restrictions to be lifted at LUH Previous articleViable device made safe in DerryNext articleGRA calls for end to garda cuts as two more robberies take place in Donegal News Highland center_img RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published Google+ Pinterest News Twitter Three factors driving Donegal housing market – Robinson Two people had to be rescued off the Donegal coast at the weekend after their boat’s engine lost power.Bundoran RNLI Lifeboat was tasked to the scene to aid a small pleasure craft, following a mayday call to Malin Head Coast Guard on Saturday evening.The alarm was raised when two emergency flares, deployed from the boat, were spotted.The craft had to be towed by the Bundoran lifeboat as it was floating dangerously close to rocks.Shane Smyth is Bundoran Lifeboat Press Officer:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/04/shane1pm.mp3[/podcast] Almost 10,000 appointments cancelled in Saolta Hospital Group this week Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Independent Cllrs indicate that they will stick to pact

first_img Twitter By News Highland – June 22, 2012 WhatsApp Pinterest Facebook Independent Cllrs indicate that they will stick to pact Labour Cllr Frank McBreaty looks set to be elected as the next Mayor of Donegal.A number of Independent Cllrs have indicated that they will stick to an inter party pact which is in place.Earlier this week Fianna Fail indicated that it will nominate Cllr Rena Donaghey for the post which will force a vote when the council meets on Monday in Lifford.Sinn Fein have indicated that they will be sticking to the pact.Frank McBrearty would have 13 votes if Fine Gael / Labour and Sinn Fein stick to a pact while Councillor Donaghey would secure 11 votes from Fianna Fail members.There are five Independent representatives on the council, two of which have strong links to Labour and Fine Gael -arguably the remaining three Independents have the power to determine the outcome of the vote.Ramelton based Independent Cllr Ian McGarvey has confirmed that he will be sticking to the pact, and as far as he is concerned he has no reason to break the inter party agreement.Similarly Independent Cllr John Campbell has indicated that he will also be sticking to the pact, and he has said that Fianna Fail are political kite flying by putting forward Cllr Rena Donaghey.And Glenties based Independent Cllr Padraig Doherty has said as far as he is concerned the agreement is still in place and he will be sticking to it, unless members decide to do otherwise.If all the Independent Cllrs and Sinn Fein stick to the pact, this will see Labour Cllr Frank McBrearty become the next Mayor of Donegal. WhatsApp Calls for maternity restrictions to be lifted at LUH Facebook News Google+center_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Previous articlePipe bomb found near Peace Day One concert in Ebrington SquareNext articleDaniel O’Donnell comments on being given freedom of Donegal today News Highland Google+ Three factors driving Donegal housing market – Robinson Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Taoiseach confirms councils can’t withhold student grants

first_img By News Highland – September 19, 2012 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Facebook RELATED ARTICLESMORE FROM AUTHOR Twitter Google+ Facebook WhatsApp Pinterest WhatsApp Taoiseach confirms councils can’t withhold student grants Twittercenter_img Pinterest News Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published Previous articlePARC welcomes progress on ‘L’ driver penalty points campaignNext articleHome help workers holding demostration outside HSE offices in Sligo News Highland Almost 10,000 appointments cancelled in Saolta Hospital Group this week The Taoiseach has told the Dail that Clare County Council are not legally allowed to withhold grants from third level students.It emerged yesterday that the Council had written letters to grant applicants asking them if they’ve paid their household charge.It says it will prioritise the processing of grants for applicants who’ve paid their 100-euro levy.Donegal County Council refused to rule out adopting a similer policy however Sinn Fein Councillor Jack Murray said his party had recieved legal advice that such a move would not stand up in the courts.And  in the Dail earlier today, the Taoiseach told the Sinn Fein leader Gerry Adams that councils do not have the legal power to stop people from receiving grants:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/09/19endGRANTS.mp3[/podcast] Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more