The Government’s Impact on Mortgage Servicers

first_img in Daily Dose, Featured, News, Print Features Home / Daily Dose / The Government’s Impact on Mortgage Servicers Data Provider Black Knight to Acquire Top of Mind 2 days ago Editor’s note: This feature appeared in the June edition of DS News.Before joining the Housing Policy Council in June 2017, Ed DeMarco was a senior fellow in residence at the Milken’s Institute Center for Financial Markets. From 2009 to 2014, he was the acting director for the FHFA, where he served as a conservator for Fannie Mae and Freddie Mac and regulator of those companies and the federal home loan banks. DeMarco recently appeared on DS5: Inside the Industry to share his thoughts on recent actions by the federal government to help both homeowners and mortgage servicers.  June 1, 2020 1,224 Views Previous: Communities Face an Active Hurricane Season Amidst COVID-19 Next: ‘Far Too Early’ to Know Impact of GSE Framework Subscribe What are your thoughts on the steps taken to protect homeowners by the federal government? The federal government and the mortgage industry itself have taken thoughtful and appropriate steps given the circumstances we suddenly face. The idea that there are literally millions of Americans that have suddenly become unemployed, furloughed, reduced income is unexpected, and it really is a direct response of the government to this national health crisis. For a period of time borrowers that were financially sound and paying their mortgage suddenly have had a major disruption. How does one help them through this major disruption until we return to whatever the new normal is and people’s incomes return and can pay their mortgage? It is consistent with what mortgage servicers have done in the past in areas that have been affected by natural disasters to offer payment forbearance. That is, “Look, there’s a temporary period of time here where you’re not able to pay your mortgage and we expect at the end of that period, you’ll be back on your feet. So, we will forbear on you paying your mortgage and we will take those forborne payments. You’re still going to owe them, but we will work out the repayment of that once we get through this temporary period.” It’s an appropriate response by both the servicing industry and by our federal officials to want to take that approach, given this situation.  Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. 2020-06-01 Mike Albanese The Government’s Impact on Mortgage Servicers Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago What further steps could be taken to ensure servicers have adequate liquidity? When the homeowner misses a mortgage payment, doesn’t pay their mortgage, because they’re on a forbearance plan, the mortgage servicer has to make that payment on behalf of the homeowner. They have to pay the investor the principal and interest, and they have to make the contributions to the tax and insurance escrows so that those bills are paid on time. The servicer needs to have access to liquidity to make those payments on behalf of the borrower. Under normal circumstances, servicers operate with reserves and access to commercial lines of credit to be able to make those payments. What’s unusual here is the incredible magnitude of forbearance that we are anticipating as a result of the pandemic. In the near term, most servicers will be able to make these payments on behalf of their borrowers, but as this thing prolongs, and as it deepens, we’re expecting that mortgage servicers simply are going to need to have access to additional liquidity support to be able to make those payments on behalf of borrowers. We really do hope that the federal government probably, and most likely the appropriate entity being the federal reserve, would establish a liquidity facility to assist servicers when their normal liquidity resources are insufficient because of the depth and duration of the pandemic. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Mike Albanese The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Share Save  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

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37 dead in Italian coach crash

first_img 37 dead in Italian coach crash WhatsApp Facebook 75 positive cases of Covid confirmed in North Twitter Facebook RELATED ARTICLESMORE FROM AUTHOR Previous articleHealth Minister says it will be months before services return to normal at Letterkenny GeneralNext articleMayor’s “devastation” at hospital flood damage News Highland Pinterest PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Twitter Pinterestcenter_img News In Italy, at least 37 people have been killed after a coach carrying pilgrims, including some children, plunged off a motorway flyover 40 kilometres from Naples.Another 11 people were injured in the crash close to the town of Avellino. Google+ Further drop in people receiving PUP in Donegal Main Evening News, Sport and Obituaries Tuesday May 25th Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republic By News Highland – July 29, 2013 Google+ WhatsApplast_img read more

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EPL: Sterling strikes, Luiz sees red as Man City outclass Arsenal

first_imgRelatedPosts Lampard: I still have confidence in Tomori Runarsson joins Arsenal on four-year deal Pirlo not out to copy anyone after Juventus’ comfortable opening win Raheem Sterling scored the first goal of the Premier League’s return to action after the coronavirus lockdown as Manchester City defeated Arsenal 3-0 behind closed doors at the Etihad stadium on Wednesday.The result means Liverpool, whose lead has been cut to 22 points by second-placed City, cannot now win the title on Sunday at Everton in the Merseyside derby. But the league table was far from the minds of the few people inside the stadium at kickoff time.A minute’s silence was observed for victims of the coronavirus followed by the players and officials taking a knee in support of the “Black Lives Matter” movement.Sterling, a prominent supporter of the movement, whose slogan featured on the players’ shirts, fired home on the stroke of halftime to put the hosts ahead.City had threatened on several occasions to provide the first goal of “Project Restart” with Arsenal keeper Bernd Leno saving efforts from Sterling and David Silva and racing out to foil Riyad Mahrez.The goal came after Arsenal substitute David Luiz failed to deal with a ball into the box and allowed Sterling in on goal, and the Brazilian was at fault again for City’s second. Mahrez got the wrong side of Luiz as he burst into the box and the ex-Chelsea defender put his hand on the Algerian’s back.Referee Anthony Taylor ruled he had pushed him to the ground, awarding a penalty and sending off Luiz.Kevin De Bruyne confidently converted the spot-kick and City never looked in any danger against opponents reduced to 10 men.City also ended the game with 10 players when Spanish defender Eric Garcia was carried off on a stretcher after a collision with his keeper Ederson.City were not able to replace him as manager Pep Guardiola had used all five available substitutes. Guardiola’s side wrapped up the win in stoppage time when Sergio Aguero hit the post, after a neat exchange with Sterling, and substitute Phil Foden slotted home the loose ball.Reuters/NAN.Tags: ArsenalDavid LuizEdersonLiverpoolManchester UnitedPep GuardiolaPremier LeagueRaheem Sterlinglast_img read more

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Ellsworth Wins Eastern Maine Title

first_img Latest posts by admin (see all) Bio This is placeholder textThis is placeholder text admin State budget vs. job creation – January 22, 2015 House fire in Winter Harbor – October 27, 2014 Latest Posts The Ellsworth Eagles Boys Soccer team beat Presque Isle 2 to 1 to claim the Eastern Maine Class B title. Hancock County Court News Nov. 3 thorugh Dec. 11 – January 22, 2015last_img

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DONEGAL REPORTER’S KILLER HAS SENTENCE DATE CHANGED

first_imgThe sentencing of the killer of Donegal journalist Eugene Moloney has been moved – because it falls on the anniversary of his death.Gary Burch, 21, of Kennington Close, Templeogue in Dublin has admitted the unlawful killing of the Inishowen-born reporter on June 24th, 2012.The date ofr sentence had been set but the prosecution said this had to b changed for “obvious reasons.” Burch will now be sentenced on June 17th.DONEGAL REPORTER’S KILLER HAS SENTENCE DATE CHANGED was last modified: March 8th, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:EUGENE MOLONEYGary Burchkillerlast_img read more

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The Latest Brexit Portugal backs Spain on Gibraltar clause

first_imgBRUSSELS — The Latest on Brexit negotiations (all times local):2:20 p.m.Portugal’s foreign minister is in support of the Brexit deal including Spain’s request to have its say on the future of the disputed British territory of Gibraltar.Foreign Minister Augusto Santos Silva says that the original Brexit guidelines laid out last year that included assurances to Spain that it could deal with London directly on the issue of Gibraltar were “wise.”Spain said Friday it wouldn’t back the divorce deal U.K. and European Union leaders are supposed to vote on during Sunday’s summit in Brussels after language regarding Gibraltar didn’t appear in a draft agreement.Santos Silva says the impasse has an “easy resolution because the heads of state of the 27 had already agreed (.) that any agreement between the U.K. and the EU regarding Gibraltar would require previous agreement from Spain, and that appears to be a very wise line.”___11:05 a.m.British Prime Minister Theresa May is kicking off a big Brexit weekend as she travels to the European Union headquarters in Brussels for talks on Saturday with key leaders.Spanish objections over the status of Gibraltar — the tiny territory ceded to Britain in 1713 but is still claimed by Spain — is the only dispute left hanging ahead of Sunday’s summit of EU leaders.May will meet with EU Commission President Jean-Claude Juncker and Council President Donald Tusk in the evening.May hopes to leave Brussels on Sunday with a firm agreement on the withdrawal terms for Britain’s departure from the EU on March 29, as well as a comprehensive negotiating text on how future relations should look like once both sides agree on a trade agreement.The Associated Presslast_img read more

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KMC mulls sprinklers for entire Eliot Park

first_imgKolkata: The Kolkata Municipal Corporation (KMC) has installed some sprinklers for watering the plants at Eliot Park in Maidan area and plans to have similar facilities for the entire park that spans around 1.2 km. The entire area will require around 40 such sprinklers. KMC has carried out a pilot project with a single sprinkler at Eliot Park, which has yielded good results.Southern Avenue in South Kolkata is the only other place in the city, where the civic body is using sprinklers for watering plants. Around 14 boulevards in Southern Avenue have sprinklers and each of them is capable of watering seven to eight trees on an average. The installation of such facilities entail an investment of Rs 40,000 per sprinkler. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari PujaThe sprinklers are used twice a day for watering the plants. They are controlled in such a manner that the entire process of watering is carried out scientifically. A person has to simply press a button to switch them on and off. Apart from this, the civic body has 12 vehicles that water plants on a daily basis in the city. The gardeners working under the Parks and Gardens department of KMC carry out trimming of the trees from time to time, to ensure that the weight of the trees are adequate to remain rooted to the ground. Also Read – Bengal civic volunteer dies in road mishap on national highway”Trimming is necessary to ensure that the trees do not become too heavy and become susceptible to uprooting,” a senior official of the department said. The civic body uses hydraulic ladders for trimming big trees. For Borough 1 to 10 of KMC, there is a hydraulic ladder each for carrying out trimming whereas in Borough 10 to 16, KMC uses two such ladders for the purpose. “We have already initiated the process of procuring some more ladders for trimming,” the official added. It may be mentioned that soon after taking over as the Mayor of Kolkata a few months ago, Firhad Hakim has formed a separate department titled Urban Forestry and has laid a lot of emphasis on preserving and augmenting the green cover in the city. An expert committee has already been formed with Kumar as chairman, which will soon come out with a comprehensive plan on how to move forward with urban forestry in the city. Apart from botanists of KMC, the committee has environment experts from Calcutta University and Jadavpur University as well.last_img read more

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Adityanath bats for Parvesh Verma Gautam Gambhir

first_imgNew Delhi: Uttar Pradesh CM Yogi Adityanath arrived in Delhi on Tuesday to campaign for BJP candidates Parvesh Verma (West Delhi) and Gautam Gambhir (East Delhi), as just few days are left before the Capital goes to polls on May 12. Banking on Gambhir’s popularity as a cricketer, Adityanath appealed to the masses, saying that the former Indian batsman had played a great inning for the nation and he would repeat that when it came to politics. Earlier in the day, Adityanath also showed his support for Verma in West Delhi, saying that while the incumbent MP rode on the Modi wave in 2014, this year he has his work to show for it. Also Read – Odd-Even: CM seeks transport dept’s views on exemption to women, two wheelers, CNG vehiclesAdityanath, of course, took the chance to attack opposition members at both rallies, which went along the same lines. He said that both Congress and AAP have failed miserably and that this time Congress is set to secure less than 44 seats in Lok Sabha. The BJP heavyweight also referred to the recent video circulating on social media, showing children shouting vulgar slogans at an election event by Priyanka Gandhi Vadra. Adityanath said, “The princess of Congress does not seem interested in teaching children of good work.” He said the Congress will lose because of its negative politics and that his prediction will be proved on May 23 when the results are announced. The BJP also attacked AAP for targetting its North West Delhi candidate Hansraj Hans. By alleging Hans to be Muslim, “AAP has insulted the entire Valmiki community”, a party leader said.last_img read more

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Can YOU Fix The NBA Draft

By Jody Avirgan The NBA draft could use some fixing. Whether NBA Commissioner Adam Silver admits it or not, teams are tanking in order to land a better chance at a top pick. On the most recent episode of our sports podcast Hot Takedown, we discussed a few proposals to fix the draft structure, from the “wheel” to closing the gap between the worst and second-worst team’s chances. Now, it’s your turn.When you’re sitting on your couch, daydreaming, what crazy scheme have you come up with to fix the draft structure? Tell us below — no idea is too weird. We’ll compile some of them on FiveThirtyEight and discuss our favorites on the show.We’ll also endorse one idea as the official Hot Takedown proposal and send it as a notarized letter (on fancy paper, too) to Silver. And that’ll solve everything! Embed Code More: Apple Podcasts | ESPN App | RSS | Embed read more

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Commentary Opposing coaches paint picture of uncertain Ohio State mens basketball

In college basketball, and, perhaps, college sports in general, it’s the coaches from the smaller and less-known schools that are the most candid, and maybe the most truthful, too. It can be interesting and fun to hear a re-telling of the team you pay attention to through the mouth of opposing coaches. For Ohio State men’s basketball, the two coaches to most recently oppose the Buckeyes on the hardwood are the only two that have gotten it correct in their recounting of OSU hoops. The next two coaches after them could complete the picture of Buckeyes basketball in 2012. OSU’s season began with an 82-60 win against the Albany Great Danes. Albany coach Will Brown provided a season’s worth of lavish praise and hyperbole in the game by lauding OSU’s depth as well as starting junior guard Aaron Craft. “My guys go to McDonald’s to eat, they (OSU) have McDonald’s All-Americans coming off the bench,” Brown said of OSU’s depth before moving discussing Craft. “He’s (Craft) going to be in the NBA for 10 years, I’m sure,” Brown said. As the season has gone along, OSU has continued to receive acclaim for its convincing wins. The University of Kansas City-Missouri came to the Schottenstein Center on Nov. 23 and was sent packing with a 91-45 loss. Afterward, UMKC coach Matt Brown simply said that OSU is “a terrific team.” It would be fair to say that OSU was at least a somewhat unknown commodity prior to its first true non-conference test of the year at Duke on Nov. 28. The 73-68 loss at a rowdy Cameron Indoor Stadium was a kind of reassurance that the Buckeyes could hold their own against top competition. Upon returning home, OSU greeted more mediocre teams. The first was Northern Kentucky, another inferior out-of-conference foe that the Buckeyes throttled and in turn had more praise heaped upon them. Following his team’s 70-43 loss, Northern Kentucky coach Dave Bezold said it was a “great experience” for his players to just be on the same floor with the Buckeyes. “It is an absolutely tremendous opportunity for us to play with one of the most historical teams in the country,” Bezold said. “It is a special moment for our kids to be on this floor and play against such a great program.” Relative to other coaches that came to The Schott and were dealt a swift defeat, Savannah State coach Horace Broadnax was calculated in his post game remarks after the Buckeyes beat his Tigers, 85-45 on Wednesday. Broadnax had plenty to say about the game, but what stuck out was that he stopped at saying OSU was decent. That was it, nothing more. In OSU’s next game, all visiting UNC-Asheville did in its 90-72 loss on Saturday was end the Buckeyes’ streak of 14 consecutive non-conference home wins by at least 20 points. By comparison, Duke lost by 22 points last season at The Schott. Asheville coach Eddie Biedenbach also had measured praise for OSU, stating that he thinks fellow Big Ten team Indiana still plays harder than the Buckeyes. “I think Ohio State is one of the top 6 teams in the country, it’s a little early talent wise,” Biedenbach said. “Indiana… I don’t think they’re more talented than Ohio State – I think they play harder.” After seven games, and a flatbed truck’s worth of homage paid to OSU coach Thad Matta’s program by opposing coaches, Broadnax and Biedenbach finally arrived at the accurate depiction of Buckeyes basketball – the jury’s still out about this team. If there is such a thing as a decent, or “blah” No. 7-ranked squad, OSU has to be that, as Broadnax said. And like Biedenbach said, OSU is a top team in the country and in the Big Ten, but, unlike last season’s Final Four team, there appears to be a gulf between America’s very best squads and the Buckeyes. The 2012 Buckeyes haven’t been tested with the frequency of the 2011 team, which played Florida in the second game of the season before hosting Duke in game No. 7. It certainly hasn’t been as successful either: The 2011 Buckeyes won both of those games whereas the 2012 Buckeyes came close at Duke and the team is now receiving only lukewarm praise from coaches of the mid-majors it beats soundly.  Next up is Winthrop, which upset Ohio University this past weekend, and Saturday is OSU’s marquee non-conference home match against Kansas. A win against Kansas changes the trajectory for the Buckeyes, or at least the outside perception of that trajectory.  Two losses in the big non-conference games doesn’t necessarily condemn OSU to a failed season, and certainly doesn’t rule the team out from a deep NCAA Tournament run. However, there was something about the way OSU fought for a win in a tight game against Florida last season, and then the way it cruised past Duke, that seemed to announce its intentions and demand recognition.  Two losses against Duke and Kansas this year? That only seems to demand recognition as a team that isn’t quite ready. So, listen to what Kansas coach Bill Self has to say after Saturday’s game – depending on the outcome and how the game goes down, you’ll likely hear comments that complete the picture of the 2012 Buckeyes. read more

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