Judge Denies Treasury’s Attempt to Reverse Pershing Square’s Dismissal of GSE Lawsuit

first_img in Daily Dose, Featured, Government, News Home / Daily Dose / Judge Denies Treasury’s Attempt to Reverse Pershing Square’s Dismissal of GSE Lawsuit Judge Denies Treasury’s Attempt to Reverse Pershing Square’s Dismissal of GSE Lawsuit Demand Propels Home Prices Upward 2 days ago Share Save 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. Tagged with: GSE Profits Lawsuits Pershing Square Capital Management U.S. Department of Treasury The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago A U.S. District judge on Wednesday denied the U.S. Department of Treasury’s motion to strike Pershing Square Capital Management’s voluntary dismissal of a lawsuit it filed in August over misappropriation of government funds.Pershing Square CEO William A. Ackman, whose company is the largest non-government Fannie Mae and Freddie Mac shareholder with about 170 million shares and close to $700 million invested in both GSEs combined, filed two lawsuits in August alleging that the sweeping of GSE profits into Treasury, which began in 2012, was unconstitutional. Ackman withdrew one of the suits in November. On Wednesday, U.S. District Judge Royce Lamberth ruled in favor of the huge New York-based hedge fund, writing in his ruling that “(t)his case remains dismissed.”The first Pershing Square suit was filed the U.S. Federal Court of Claims and alleges that the sweeping of GSE profits into Treasury equates to taking private property for public use without “just compensation,” a practice forbidden by the Fifth Amendment of the U.S. Constitution, and created a “windfall” for the government while shortchanging GSE shareholders. The second suit, filed in the U.S. District Court the day after the first complaint, claimed that Pershing Square was denied fundamental shareholder rights and that the Federal Housing Finance Agency (FHFA), conservator for both GSEs since 2008, refused to allow Pershing Square to inspect books and records despite written demands made by Pershing to the FHFA board of directors to do so. The second complaint also calls for all GSE profits being diverted into Treasury to be divided among the GSEs’ shareholders. The second suit is the one Ackman voluntarily dismissed.Lamberth wrote that Treasury sought to reverse Ackman’s voluntary dismissal of the suit because the agency was “(f)rustrated by the fact that the plaintiffs’ voluntary dismissal occurred ‘one business day before Defendants’ planned filing of dispositive motions,'” and that Treasury was “aware that the purpose of voluntary dismissal may have been to permit the plaintiffs to argue that preclusion does not apply to a separate action filed in another federal court.”Two similar lawsuits filed in 2013 by investors Fairholme Funds and Perry Capital were dismissed by Lamberth in late September 2014, with the judge ruling that the sweeping of GSE profits into Treasury was legal under the Housing and Economic Recovery Act. Both Fairholme and Perry have appealed the judge’s decision. Some suggested that Ackman voluntarily dismissed his suit because he anticipated his complaint meeting a similar fate to the other two in Lamberth’s court.”There is no doubt that the plaintiffs voluntarily dismissed their case as part of a broader litigation strategy—and not because they suddenly decided their claims had no merit,” Lamberth wrote in his ruling. “But strategic conduct in the face of high-stakes litigation is not a punishable offense.” About Author: Brian Honea Related Articles GSE Profits Lawsuits Pershing Square Capital Management U.S. Department of Treasury 2015-01-22 Brian Honeacenter_img January 22, 2015 1,015 Views Previous: CFPB Fines Two Lenders $35.7 Million for Kickback Scheme Next: Delinquency Rate Tumbles in December, Reversing November’s Large Increase Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Mnuchin Finds Allies, Faces Fire in Senate Hearing

first_img Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Government, News Phil Banker began his career in journalism after graduating from the University of North Texas. He has covered a number of communities across Texas and southern Oklahoma, writing news and sports for publications including the Ardmoreite, Ennis Daily News and the Plano Star-Courier. He is currently a contributor to DS News and The MReport. Senate Finance Committee Chairman Orrin Hatch (R-Utah) went to bat for Treasury Secretary appointee Steve Mnuchin during his confirmation hearing on Thursday, saying claims his businesses helped precipitate the 2008 financial crisis were “lacking in merit.”Mnuchin, 54, is a hedge fund manager, former Goldman Sachs partner, and former executive with IndyMac and OneWest Banks.“Mr. Mnuchin had no involvement in the mortgage market in the years leading up to the collapse,” Hatch said. “After purchasing IndyMac and all its toxic mortgage assets, Mr. Mnuchin’s company offered loan modifications to the vast majority of its delinquent borrowers and was one of the very first institutions to make offers to forgive portions of loan principal balances to reduce foreclosures,” Hatch said.“All independent valuations of the company’s actions have resulted in high marks,” said Hatch regarding the foreclosure practices at OneWest.Mnuchin, nominated for Treasury Secretary in November, said at that time that he would end the government’s controversial conservatorship of Fannie Mae and Freddie Mac.“We will make sure that when they are restructured, they are absolutely safe and don’t get taken over again. But we’ve got to get them out of government control,” Mnuchin said back when he was first appointed, according to Bloomberg.Mnuchin has also said he would roll back key provisions of the Dodd-Frank Act, signed into law by President Barack Obama in 2010 to regulate Wall Street.During the hearing Mnuchin defended his time at OneWest, saying he worked to help borrowers stay in their homes during the worst years of the financial crisis.“In the press, it has been said I ran a ‘foreclosure machine,’” Mnuchin said. “On the contrary I was committed to loan modification intended to stop foreclosures. I ran a loan modification machine.“I am proud to be able to say our bank was able to do over 100,000 loan modifications that allowed people the opportunity to stay in their homes,” Mnuchin said. “Unfortunately, not all the homes were able to be saved through these programs, and despite my best efforts some were sadly subject to foreclosure.”Mnuchin said he ordered his lawyers to sue HSBC to allow him to do additional loan modifications, and blamed HUD regulations for foreclosures on accounts delinquent by very small amounts.Ed Delgado, President and CEO of the Five Star Institute and a former executive with Wells Fargo and Freddie Mac, called Mnuchin a “competent choice” for Treasury Secretary.“His plans to roll back burdensome regulations and advance GSE reform will help foster progress and growth in the industry and the economy,” Delgado said. “He should not be labeled as the architect behind the 2008 financial crisis. The reality is that Mnuchin’s leadership during his tenure at OneWest defended American homeowners by making available programs that offered loan modifications to eligible borrowers.”Although the committee began the hearing by peppering Mnuchin with questions on his history at OneWest, they soon pivoted to questions on offshore accounts. Senators asked him about his time as director of Dune Capital International Ltd., an investment fund incorporated in the Cayman Islands.“Did you use the Cayman island corporation to avoid paying taxes? Would you support closing tax loopholes that very wealthy people have consistently used in the Cayman Islands to avoid paying taxes?” Sen. Debbie Stabenow (D-Michigan) asked of Mnuchin.“There was no benefit to me from the Cayman entity,” Mnuchin replied. “As I said, The Cayman entity was set up to accommodate nonprofits and pension funds that wanted to invest offshore.”Hatch noted some of the seemingly hypocritical questioning concerning Mnuchin’s corporate involvement with offshore accounts and holdings.“At least two of president Obama’s nominees who now serve in his cabinet had Cayman Island holdings,” Hatch said.Wyden said the committee has a bipartisan record of calling out nominees on both sides of the aisle.Boston Community Capital CEO Elyse Cherry, an expert on foreclosure relief and housing policy, said Mnuchin has a “very different sense of his history” than his detractors.”In his time there, OneWest took families through about 36,000 foreclosures,” Cherry said. “What I would hope is that anybody with that level of knowledge about the real estate industry and the impacts of foreclosure, if he comes into a position in Treasury,  would use that knowledge to help us solve the remaining housing crisis as opposed to continuing to throw families out of their homes.”Cherry said she hopes Mnuchin, if confirmed as Treasury Secretary, would use his position to show leadership on a number policies to help homeowners stay in and maintain their homes.”We need to be able to maintain our housing stock so that people have good, solid, healthy places to live so our neighborhoods can continue to be healthy,” Cherry said. “I think Treasury has a lot they can do for that.”Chairman Tim Rood of Washington, D.C.-based business advisory firm The Collingwood Group praised Mnuchin’s handling of the hearing.“My key takeaway is that Steven Mnuchin is a world-class financier whose decades of experience with financial and monetary matters make him the ideal candidate to serve as U.S. Treasury Secretary and President-elect Trump’s principal economic advisor,” Rood said. “My secondary takeaway is that only the most committed public servant(s) would subject themselves to this gruesome confirmation process.”To watch the hearing, click here. Sign up for DS News Daily Mnuchin Finds Allies, Faces Fire in Senate Hearing Government Senate Hearing Steven Mnuchin Treasury Secretary 2017-01-19 Phil Banker January 19, 2017 1,249 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Government Senate Hearing Steven Mnuchin Treasury Secretary  Print This Post Home / Featured / Mnuchin Finds Allies, Faces Fire in Senate Hearing Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Phil Banker Subscribe The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save  To watch a recording the hearing, click here. 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 Previous: Credit Suisse Agrees to RMBS Settlement with DOJ Next: CalyxSoftware Hires New Director of Marketing Related Articleslast_img read more

Foreclosures, Delinquencies Drop Year-Over-Year

first_img April 11, 2017 1,320 Views  Print This Post The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Foreclosures, Delinquencies Drop Year-Over-Year On Tuesday, CoreLogic released its monthly Loan Performance Insights Report for January 2017, which analyzes rates of delinquency and foreclosure. Overall, delinquency rates saw steady drops year-over-year. In January 2017, 5.3 percent of mortgages were delinquent by 30 days or more, a 1.1 percent percentage point decline in the overall delinquency rate year-over-year.“The 30-plus delinquency rate, the most comprehensive measure of mortgage performance, is at a 10-year low and rapidly declining,” said Frank Martell, president and CEO of CoreLogic. “While late-stage delinquencies remain in the pipeline in selected markets, early-stage delinquency performance is stellar and the lowest it’s been in two decades. The continued improvement in mortgage performance bodes well for the health of the market in 2017.”The foreclosure inventory rate in January 2017 dropped year-over-year as well, from 1.1 percent in January 2016 to 0.8 percent in January 2017. Additionally, the serious delinquency rate, or loans 90 days or more past due, dropped from 2.4 percent to 2.1 percent year-over-year.Another drop was seen in early-stage delinquencies, or those that are 30-59 days past due. Early stage delinquencies dropped year-over-year from January 2016’s 1.2 percent to 0.9 percent“Steady job and income growth, combined with full-doc underwriting, has led to low early-stage delinquencies,” said Dr. Frank Nothaft, Chief Economist for CoreLogic. “January’s 0.9 percent transition rate for current to 30 days late is lower than a year ago and much lower than the 1.5 percent average from 2000 and 2001, during which the foreclosure rate was, conversely, lower than it is today.”CoreLogic additionally analyzed transition rates, as it states “early-stage delinquencies can be volatile.” 0.9 percent of mortagges went from current to 30 days past due in January 2017, another year-over-year drop, as that rate was 1.2 percent in January 2016. The transition rate previously peaked in November 2008 at 2 percent.Read more from CoreLogic’s report here. Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Delinquency Foreclosure Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Wells Fargo Reclaims $75 Million from Execs Next: Consumers Slowly Getting Savvier About Finances in Daily Dose, Featured, Foreclosure, News About Author: Seth Welborn Foreclosures, Delinquencies Drop Year-Over-Year Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago Delinquency Foreclosure 2017-04-11 Seth Welbornlast_img read more

Hidden in Plain Sight

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Alison Rich Home / Daily Dose / Hidden in Plain Sight October 31, 2017 1,146 Views HOUSING mortgage 2017-10-31 Alison Rich The Best Markets For Residential Property Investors 2 days ago Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Sign up for DS News Daily center_img Subscribe Previous: Looking Back: Hensarling’s Announcement to Impact the Industry Next: Foreclosure Prevention Efforts in Effect Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines  Print This Post Tagged with: HOUSING mortgage Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Hidden in Plain Sight The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Certainly, no one on the planet aims for anything short of squeaky-clean credit. The reality, however, is that nearly half of Americans wrestle with serious money woes, making securing mortgages and purchasing houses very nearly impossible. In fact, PYMNTS has coined a name for this struggling demographic: the “financial invisibles.”To ascertain how this cash-strapped cohort accesses financial tools and manages their credit, PYMNTS teamed with Unifund to create the Financial Invisibles Index. The index analyzed the survey responses of more than 2,000 Americans about their financial habits and circumstances. (It’s worth noting that the study sought relatively low-income Americans to help deepen insights into the use of credit by “financially challenged” folks, the companies explained.)After shaking out the data, the researchers pinpointed four personas of financial invisibles:No Worries: People who have no delinquencies and can fully participate in the financial system.Second Chances: Those who have had past delinquencies but can still participate in the financial system.On the Edge: People who struggle to make ends meet and have no delinquencies but are unable to participate in the financial system.Shut Outs: Those who have had delinquencies in the past and, as a result, can’t participate in the financial system.It’s important to mention that a big swath of the so-called invisibles aren’t that way by choice and would much prefer to participate in the banking system, the study says. Which is to say they would love nothing more than to score a mortgage and buy a home. Unfortunately, a lack of access to credit and a poor credit rating often deter them from managing bill payments and seeking financial well-being, let alone from becoming homeowners.To illustrate the low-credit point, for example: Shut Outs reported an average credit score of 525, while On the Edge members had an average score of 589. The No Worries group, however, noted an average score of 714.As it relates to housing and homeownership, the key takeaway from this pretty much goes without saying: Whether visible or not, financial stability plays a huge role in a would-be buyer’s ability to procure a residence.To view the full report, click here.last_img read more

Mulvaney: CFPB to Enforce, ‘Not Become the Law’

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Tagged with: CFPB Compliance Consumer Financial Protection Bureau Federal Regulations Mick Mulvaney About Author: David Wharton Speaking at an industry conference this week, Mick Mulvaney, Acting Director of the Consumer Financial Protection Bureau, outlined the bureau’s ongoing shift away from “regulation by enforcement” and toward more regulatory clarity.During a keynote speech at the 2018 REALTORS Legislative Meetings & Trade Expo on Tuesday of this week, Mulvaney addressed the bureau’s new approach to regulation by enforcement in direct terms. “We aren’t doing it anymore,” Mulvaney told the crowd. He continued, adding, “It’s a fairness issue, if you’ve done something for so long and the government wants to change the rules, shouldn’t the government have to tell you they are changing the rules before they fine you?”Touting a “back to basics” approach for the bureau under his leadership, Mulvaney said he was working to ensure that the bureau provided clarity about what is and is not illegal, and criticized the bureau’s direction under the Obama administration. “We are not out to make you look like a bad guy if you are not,” Mulvaney said. “We are out to enforce the law, not become the law.”“NAR is encouraged by the new direction of the bureau under Director Mulvaney’s leadership, specifically, plans to decrease unnecessary regulatory burdens in line with the current administration,” said NAR President Elizabeth Mendenhall. “NAR has been supportive of legislation that promises to reduce burdensome requirements, including for smaller creditors, to facilitate increased lending, and we are hopeful such changes will move through Congress soon.”Leadership of the CFPB was thrown into question last fall, following the surprise resignation of Director Richard Cordray. On his way out, Cordray named his Chief of Staff, Leandra English, as Deputy Director of the CFPB. However, President Trump then appointed White House Budget Director Mick Mulvaney to head the CFPB. This kicked off a series of legal challenges between the two over who was the rightful leader of the organization, with Mulvaney eventually prevailing.Last week, ex-CFPB Director Richard Cordray officially clinched the Democratic nomination for the governorship of Ohio. Campaigning on both his history at the CFPB and a promise to focus on economic matters affecting Ohioans, Cordray defeated five other contenders during the Ohio Democratic primary, including former Congressman and Cleveland Mayor Dennis Kucinich. 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] Mulvaney: CFPB to Enforce, ‘Not Become the Law’ Home / Daily Dose / Mulvaney: CFPB to Enforce, ‘Not Become the Law’ CFPB Compliance Consumer Financial Protection Bureau Federal Regulations Mick Mulvaney 2018-05-16 David Wharton Share Save Previous: What’s Happening With Single-Family Rentals? Next: Goldman Sachs Mortgage Relief Settlement Actions Near $1B Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, Journal, News Servicers Navigate the Post-Pandemic World 2 days ago May 16, 2018 2,014 Views Sign up for DS News Daily Subscribelast_img read more

Unemployment’s Threat to Mortgages

first_img Share Save  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, Market Studies, News April 30, 2020 1,478 Views In the week ending April 25, the advance figure for seasonally adjusted initial unemployment claims was 3,839,000, a decrease of 603,000 from the previous week’s revised level, according to the latest data from the Department of Labor. The previous week’s level was revised up by 15,000 from 4,427,000 to 4,442,000. The 4-week moving average was 5,033,250, a decrease of 757,000 from the previous week’s revised average. The previous week’s average was revised up by 3,750 from 5,786,500 to 5,790,250. “As with the prior weeks, a few caveats make this week’s data difficult to interpret precisely,” said Doug Duncan, Chief Economist at Fannie Mae. “On one hand, UI eligibility rules have been relaxed recently, increasing the number of people who are able to apply. This makes it difficult to estimate the uninsured unemployed share of the workforce. On the other hand, many states reported a significant backlog of UI applications due to a lack of processing capacity, indicating that this week’s release may understate the true extent of insured layoffs.”The advance seasonally adjusted insured unemployment rate was 12.4% for the week ending April 18, an increase of 1.5 percentage points from the previous week’s revised rate. This marks the highest level of the seasonally adjusted insured unemployment rate in the history of the seasonally adjusted series. The previous week’s rate was revised down by 0.1 from 11.0 to 10.9%. The advance number for seasonally adjusted insured unemployment during the week ending April 18 was 17,992,000, an increase of 2,174,000 from the previous week’s revised level. This marks the highest level of seasonally adjusted insured unemployment in the history of the seasonally adjusted series. The previous week’s level was revised down by 158,000 from 15,976,000 to 15,818,000. The 4-week moving average was 13,292,500, an increase of 3,733,250 from the previous week’s revised average. The previous week’s average was revised down by 39,000 from 9,598,250 to 9,559,250. According to Black Knight Financial Services, in its latest Mortgage Monitor Report, if unemployment reaches 15%, 3.5 million more mortgages could fall into delinquency if the relationship between unemployment and delinquency follows a similar pattern as the Great Recession. After noting that “home loan delinquency and foreclosure rates were the lowest in a generation before the COVID-19 pandemic hit,” Frank Nothaft, Chief Economist at CoreLogic, stated that, “recession-induced job losses will fuel delinquencies.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Unemployment’s Threat to Mortgages Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Unemployment’s Threat to Mortgages Previous: The Industry Pulse: New Partnerships and Market Updates Next: Ben Carson Commends Investigation Into Landlord Sexual Harassment Complaintscenter_img 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 Tagged with: Unemployment The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily About Author: Seth Welborn Unemployment 2020-04-30 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 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 Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

How Times of Crisis Cause Stress on Minority Homeowners

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago July 8, 2020 21,706 Views 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. Share Save The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Is Your Program CARES Act Compliant? Next: Pandemic Policies and African American, Hispanic Borrowers The American Mortgage Diversity Council (AMDC) will host a webinar on July 22 titled, “Leading Beyond a Crisis: Driving Sustainable Homeownership in Diverse Communities.”The webinar will be held at 2-3 p.m. CDT.AMDC’s Chair of the Education and Community Outreach Subcommittee, Joe Velasquez, SVP, Neighborhood Lending, Bank of American, will lead a panel of experts who delve into the ways minority households are stressed during times of crisis.The webinar will also outline the steps mortgage professional can take to build a sustainable, equitable, and diverse housing ecosystem.Industry leaders participating in this webinar, along with Velasquez, are Dionne Cuello, VP, Diverse Market Segments, Citi; Suzy Lindblom, COO, Planet Home Lending; Alanna McCargo, VP, Housing Finance Policy Center, Urban Institute, and Lenny McNeil, EVP, U.S. Bank Home Mortgage.“The disparities in Black homeownership existed prior to COVID-19, and the pandemic threatens to worsen outcomes for Black and Latino renters and homeowners. We know they are more likely to hold jobs in sectors being directly affected by COVID-19, have less wealth to help them weather income losses, and are reporting higher rates of missed rent and mortgage payments and are less confident of making future ones,” said Alanna McCargo, VO, Housing Finance Policy Center, Urban Institue. “The Mortgage Markets COVID-19 Collaborative convened by Urban’s Housing Finance Policy Center is engaging with folks from across the housing finance ecosystem, consumer advocates and data providers, and our staff is analyzing data to better understand the equity implications of the crisis, as well as the policy responses to it thus far.”Lindblom said that while this topic is always important, it holds special significance with both the COVID-19 pandemic and the national diversity crisis.”We, as an industry, must stand up and come up with solutions to combat the challenge of lack of homeownership within the diverse communities,” she said. “We need to get to the root of the problem and come up with viable solutions to start the education early on with diverse communities, not only in homeownership but financial responsibility and assisting with job opportunities, training.”We need to make sure that we help with education starting in our schools, working with parents in the education of their children. If you come from a family of renters, there is no avenue in learning the benefits, the steps to become a homeowner. This is critical, to move to the root of the problem—we have to stop the cycle and opening up avenues for outreach to these communities to reach the financial security they deserve.Please visit the following link to register for the webinar. Servicers Navigate the Post-Pandemic World 2 days ago How Times of Crisis Cause Stress on Minority Homeowners Related Articles 2020-07-08 Mike Albanese  Print This Post Home / Daily Dose / How Times of Crisis Cause Stress on Minority Homeowners Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Mike Albanese in Daily Dose, Featured, Media, Webinars Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 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 Subscribelast_img read more

Hogan says government will not be held to ransom by drink firms

first_img Help sought in search for missing 27 year old in Letterkenny WhatsApp Previous articleBloody Sunday families welcome removal of General Jackson from Derry installationNext articleULA TD claims country pimped out like prostitutes for Obamas News Highland WhatsApp Facebook Google+ RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH Pinterest 448 new cases of Covid 19 reported today Twitter Google+center_img The Environment Minister says the government will not be threatened by drinks companies into dropping plans for a ban on their sponsorship of sporting events.Phil Hogan says the government will continue to discuss all points of view on alcohol sponsorship and that the proposals will be brought to the Cabinet table in the coming weeks.It comes after spokespeople for Diageo said attracting investment to Ireland would be ‘difficult’ in a ‘very anti-alcohol’ environment and that Guinness and Baileys did not have to be made here.But Environment Minister Phil Hogan says the government will not be held to ransom.”I don’t think the government will be threatened by any individual company – but obviously the issues that they have raised and the government’s concern about some of those sponsorships at sporting events are being discussed by Minister Alex White, who’ll be bringing proposals to government in the next few weeks” he said. Three factors driving Donegal housing market – Robinson News By News Highland – June 19, 2013 Pinterest NPHET ‘positive’ on easing restrictions – Donnelly Guidelines for reopening of hospitality sector published Twitter Facebook Hogan says government will not be held to ransom by drink firmslast_img read more

Detectives in Derry appeal for information following incident of criminal damage

first_imgHomepage BannerNews Detectives in Derry appeal for information following incident of criminal damage RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter NPHET ‘positive’ on easing restrictions – Donnelly Previous articleDeputy Doherty hopes working group report will have a clear strategy for Gaoth Dobhair Business ParkNext articleCalls made to develop Drumboe Woods into tourist attraction admin Detectives in Derry are appealing for witnesses following a report of criminal damage to a house in the Brookdale Park area of Shantallow in the early hours of this morning.At approximately 4.30 am a wheelie bin was pushed against the front door and set alight. The NIFRS attended the scene and extinguished the fire which is believed to have been started maliciously.There have been no reports of anyone being injured as a result of this incident.The PSNI are appealing to anyone who may have noticed any suspicious activity in the area or who has any information to contact Police at Strand Road on the non-emergency number 101.Or, if someone would prefer to provide information without giving their details they can contact the independent charity Crimestoppers and speak to them anonymously on 0800 555 111.” Three factors driving Donegal housing market – Robinson WhatsApp By admin – March 21, 2015 Google+center_img Pinterest WhatsApp Google+ Pinterest Facebook Twitter Nine Til Noon Show – Listen back to Wednesday’s Programme GAA decision not sitting well with Donegal – Mick McGrath Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector publishedlast_img read more

Deputy Thomas Pringle says he will support a motion of censure against Mick Wallace

first_img Three factors driving Donegal housing market – Robinson Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey WhatsApp Facebook Deputy Thomas Pringle says he will support a motion of censure against Mick Wallace LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton News Almost 10,000 appointments cancelled in Saolta Hospital Group this week Twitter RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published center_img By News Highland – June 8, 2012 WhatsApp Previous article22-year-old Dungiven man charged with causing death by dangerous drivingNext articleDeputy Joe McHugh says Donegal people were happy to see treaty passed nationally News Highland Facebook Google+ Google+ Pinterest Donegal South-West Deputy Thomas Pringle has indicated that he will support a motion of censure against Mick Wallace if it arises.The Committee on Procedures and Privileges has been asked to determine if any Oireachtas rules were broken, after it emerged Mick Wallace’s construction firm made a 2.1 million euro settlement with Revenue.The Independent Wexford TD met with his colleagues in the technical group yesterday to discuss the revelations.Deputy Thomas Pringle, who was there – said he would have no problem supporting a motion of censure against Deputy Wallace:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/06/prin1pm.mp3[/podcast] Pinterest Twitterlast_img read more