Future of GSEs’ Credit Risk Transfer Program Uncertain

first_img Tagged with: Credit Risk Transfer Fannie Mae Freddie Mac GSEs Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Previous: HUD Updates on CWCOT Enhancements Next: Deputy Director Named to CFPB Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles About Author: Krista F. Brock The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily July 7, 2020 1,725 Views Credit Risk Transfer Fannie Mae Freddie Mac GSEs 2020-07-07 Mike Albanese Home / Daily Dose / Future of GSEs’ Credit Risk Transfer Program Uncertain Demand Propels Home Prices Upward 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. The single-family mortgage credit risk transfer (CRT) program was created and has survived without being distorted by political influence, according to Don Layton, former CEO of Freddie Mac and current Senior Industry Fellow at Harvard’s Joint Center for Housing Studies (JCHS).However, Layton explains his concerns for the future of the program in the third and final part of his series of papers titled “Demystifying GSE Credit Risk Transfer.”In Layton’s view, the CRT program was created with economic efficiency rather than political agendas in mind. Because there was a lot of focus on replacing the GSEs at the time the CRT program was created, the program was able to fly under the radar in a way and was “built free from the lobbying and influence of special interests that otherwise would have attempted to force changes to their advantage.”Also, the program was developed “inside of conservatorship” rather than through legislative action, which contributed to its more neutral agenda with a goal and outcome of economic efficiency.The CRT program was created through the Federal Housing Finance Agency (FHFA) rather than through Congress, where it would have been subject to interest groups attempting to sway the program one way or another with white papers, conferences, private congressional meetings, testimonies at congressional hearings, and more, according to Layton.Without these influences, the program simply served the business needs of the GSEs, rather than any political or social objectives.However, Layton describes an influx of special interest attempts to alter the program starting about two years after its creation when it was apparent that the GSEs had undergone a major change with the successful program.Layton describes “a seemingly never-ending series of episodes in which interest groups in Washington sought to influence the live-and-operating CRT program to their advantage.” These proposed changes would have benefitted particular interests often at the cost of the program’s efficiency and impact of reducing taxpayer risk.Layton describes the continuation of the CRT program in its original form “against all odds” as the FHFA, and the Treasury deflected these numerous attempts.“But staying business-like in this manner is an exception to the norms of the housing finance system, which has had decades of heavy politicization and so is known for hidden subsidies and various inefficiencies of many kinds,” Layton said in his paper.Despite this persistence, the future of the CRT is now uncertain, and Layton says the program has finally succumbed to political pressure. Today’s FHFA Director Mark Calabria has proposed major changes for the GSEs, including a possible end for the CRT program.FHFA’s new GSE framework, which must go through public comments and revisions, is anticipated to be finalized later this year. It includes new capital requirements for the GSEs and what Layton calls “a specific anti-CRT bias.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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 Future of GSEs’ Credit Risk Transfer Program Uncertain in Daily Dose, Featured, Government, News Share Save The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

1,134 homes in need of social housing support in Donegal

first_img Three factors driving Donegal housing market – Robinson Facebook News RELATED ARTICLESMORE FROM AUTHOR Pinterest Twitter Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly 1,134 homes in need of social housing support in Donegal WhatsApp Figures released by the government show that there are currently 1,134 homes in need of social housing support in DonegalThis is a decrease of almost 36 % compared to 1993.The figures released by the Department of the Environment show that around 100 thousand households are on Local Authority waiting lists around the country.The figures show that since 1993 there has been a fluctuation in those in need of social housing support in Donegal.The figure in 1993 stood at 1,288 – peaked at 1,763 in 2008 while this year the number is 1,134.The majority of those now in need of support are in Letterkenny, the figure there has increase by 156 in just a year.In Donegal, you are most likely to be on the Local Authority waiting list if you are aged 31 – 40, those aged over 60 are lease likely to be on the list.By category of need, you are most likely to be on the housing waiting list because you can’t afford to house yourself or on medical or compassionate grounds.The figures also show the majority of people on the housing waiting list in Donegal are Irish, unemployed and in receipt of social welfare.The majority of those on the list have been there for some time – a significant portion over a year or more  – one hundred and seventy household have been on the waiting list for over five years. Facebookcenter_img Google+ Calls for maternity restrictions to be lifted at LUH 448 new cases of Covid 19 reported today WhatsApp Twitter Help sought in search for missing 27 year old in Letterkenny Pinterest By News Highland – September 20, 2011 Google+ Previous articleVital X-Ray equipment transferred from Killybegs and Donegal Town to LetterkennyNext articleSearch for missing tourist to concentrate on Slieve League today News Highland last_img read more

Family of man who has part of his face bitten off describe his anguish

first_img Twitter Twitter RELATED ARTICLESMORE FROM AUTHOR WhatsApp 448 new cases of Covid 19 reported today Facebook Newsx Adverts Guidelines for reopening of hospitality sector published By News Highland – April 24, 2012 Family of man who has part of his face bitten off describe his anguish Calls for maternity restrictions to be lifted at LUH Google+center_img Google+ Pinterest Pinterest The family of a man who had part of his face bitten off at a house party in Letterkenny have spoken of his mental anguish.The 22 year-old was amongst a group of people who attended a house party in the town on Friday night last – he was bitten in the face with damaged caused to the corner of his mouth and cheek.He is in a Dublin hospital today for an operation on his injuries.His Aunt Karen spoke earlier on the ‘Shaun Doherty Show’:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/04/face.mp3[/podcast] WhatsApp Help sought in search for missing 27 year old in Letterkenny NPHET ‘positive’ on easing restrictions – Donnelly Facebook Previous articleReport finds 8 out 9 gardai stationed in Gweedore couldn’t do their duties in IrishNext articleTyrone priest Fr Eugene Boland in court on assault charges News Highland Three factors driving Donegal housing market – Robinson last_img read more

Mac Lochlainn and Shatter clash over garda station threat

first_img Twitter 448 new cases of Covid 19 reported today Three factors driving Donegal housing market – Robinson WhatsApp RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published Previous articleSoccer – Kenny Delighted With Another Cup WinNext articleFire service tackles apartment blaze in Letterkenny News Highland Mac Lochlainn and Shatter clash over garda station threat Pinterest Facebook Twitter Pinterestcenter_img WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly Newsx Adverts Help sought in search for missing 27 year old in Letterkenny By News Highland – September 28, 2011 Google+ Facebook Donegal North East TD Padraig Mac Lochlainn has clashed with Justice Minister Alan Shatter in the Dail over the possible closure of rural Garda stations.Deputy Mac Lochlainn and Kerry TD Jackie Healy Rae called on Minister Shatter not to close rural garda stations, a call which MInster Shatter described as “politically naive”.Minister Shatter drew an angry response when he said it was gratifying to see Sinn Fein supporting gardai, a different situation from the past.Deputy Mac Lochlainn said he stands on his record in Donegal, and he accused MInister Shatter of instructing the Garda Commissioner to identify stations that can be closed……..[podcast]http://www.highlandradio.com/wp-content/uploads/2011/09/pmacl530.mp3[/podcast]Responding, Minister Shatter said no garda stations are slated for closure, and he hasn’t even seen the commissioner’s recommendations.He said the reality is that money must be saved, and his priority is to ensure a viable policing service, rather than concentrating on keeping garda stations open for political reasons………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/09/alans530.mp3[/podcast] Calls for maternity restrictions to be lifted at LUH Google+last_img read more

Buncrana Town Council looking to find site for ambulance base

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ WhatsApp Buncrana Town Council is seeking to identify a site for a possible ambulance base in the town following a briefing from the ambulance service this week.The meeting follows concerns from Cllr Joe Doherty who previously has been critical of the ambulance service, claiming that there isn’t enough cover, particularly since a commitment to have a Rapid Response Vehicle based constantly in the town was scaled back.However, since this week’s briefing, he says he’s happy that the service is strong in Inishowen, and said further discussions will take place, particularly about the issue of a permanent ambulance base in Buncrana…..[podcast]http://www.highlandradio.com/wp-content/uploads/2013/10/jdoch1pm.mp3[/podcast] Guidelines for reopening of hospitality sector published Calls for maternity restrictions to be lifted at LUH RELATED ARTICLESMORE FROM AUTHOR WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week Three factors driving Donegal housing market – Robinson Twitter Buncrana Town Council looking to find site for ambulance basecenter_img Twitter Pinterest Previous articleNephew of pensioner who was burgled in her home, says those who broke into her home killed herNext article1,000 people evacuated from their homes after overnight security alert in Derry News Highland Google+ Pinterest Facebook NPHET ‘positive’ on easing restrictions – Donnelly By News Highland – October 11, 2013 Facebook Newslast_img read more

Update – homes evacuated as security alert continues in Strabane

first_img Twitter WhatsApp RELATED ARTICLESMORE FROM AUTHOR Google+ By admin – August 1, 2015 Previous articleListen back to live music, chat and features on the Weekend EditionNext articleIt’s been a whirlwind week for Donegal’s Joseph Duffy admin Facebook Guidelines for reopening of hospitality sector published Pinterest Pinterest Facebook GAA decision not sitting well with Donegal – Mick McGrath center_img Homepage BannerNews Twitter Calls for maternity restrictions to be lifted at LUH Nine Til Noon Show – Listen back to Wednesday’s Programme NPHET ‘positive’ on easing restrictions – Donnelly WhatsApp A Strabane cemetery has been closed over reports of a suspicious object in the area.The cemetery is located in Townsend Street/Cemetery Road in Strabane.Some residents are currently being evacuated to St Pats Hall Kennedy Street.Police are continuing to warn public not to touch any suspicious objects if they happen upon them.Traffic diversions are in place and motorists are advised to avoid the area.Local Councillor Karina Carlin has been giving an update to Highland Radio News:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/08/karina2.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Google+ Three factors driving Donegal housing market – Robinson Update – homes evacuated as security alert continues in Strabanelast_img read more

MacGill: Fianna Fail Senator wants rules to make TDs accountable

first_imgNews MacGill: Fianna Fail Senator wants rules to make TDs accountable WhatsApp Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week Twitter Guidelines for reopening of hospitality sector published Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Facebook Calls for maternity restrictions to be lifted at LUH center_img At the MacGill Summer School, a Fianna Fail Senator has called for new rules to allow for TDs  to be disqualified from office for ethical breaches.Senator Averil Power was speaking earlier in Glenties.She says all newly elected TDs and Senators should be made to sign up to an ethical code of conduct which – if breached – would cost them their job. Twitter WhatsApp Three factors driving Donegal housing market – Robinson Previous articleDecline in numbers attending gaeltacht collegesNext articleWillie McAteer due in court in relation to alleged financial irregularities at Anglo News Highland By News Highland – July 23, 2012 RELATED ARTICLESMORE FROM AUTHOR Google+ Pinterest Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Letterkenny General staff asked to consider taking unpaid leave

first_img By News Highland – September 15, 2010 Guidelines for reopening of hospitality sector published Newsx Adverts Facebook Letterkenny General staff asked to consider taking unpaid leave Calls for maternity restrictions to be lifted at LUH Three factors driving Donegal housing market – Robinson WhatsApp Facebook Previous articleHSE spent 8.4 million euro treating preventable conditions in DonegalNext articleCarrigart Garda station damaged in overnight attack News Highland Almost 10,000 appointments cancelled in Saolta Hospital Group this week Pinterestcenter_img Google+ Pinterest Staff at Letterkenny General Hospital are to be asked their views on whether unpaid leave should be introduced as an alternative to jobs cuts.General manager Sean Murphy is denying a difference of opinion between management and trade unions over whether or not such a proposal was formally put to unions by the HSE.The HSE says the idea was presented informally at a number of staff briefings as a possible alternative to job cuts, but was never put on the table at official discussions.Impact, on the other hand, are indicating that a formal proposal was made and rejected by them on the basis that it was contrary to the Croke Park Agreement.As discussions resume this afternoon, Mr Murphy says staff and unions are being consulted about a number of issues[podcast]http://www.highlandradio.com/wp-content/uploads/2010/09/murphosp.mp3[/podcast] Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Twitter RELATED ARTICLESMORE FROM AUTHOR Twitterlast_img read more

Northwest MEP says Government must take action to address regional disparities

first_img WhatsApp WhatsApp Previous articleAbbey Hotel fined for breach of smoking banNext articleBreastcheck to be extended in Inishowen until August News Highland News Google+ Northwest MEP says Government must take action to address regional disparities Guidelines for reopening of hospitality sector published Twitter Facebook Facebook Twitter RELATED ARTICLESMORE FROM AUTHORcenter_img Pinterest Pinterest Marian Harkin MEPNorth West MEP Marian Harkin says the government must take action to address regional disparities in Ireland.Speaking after the publication of a comprehensive Quality of Life by the CSO last week, Ms Harkin said it’s clear that the BMW region in general, and Donegal in particular, are lagging behind the rest of the country, and Dublin in particular.She says the government has a duty to significantly reduce the current disparityHowever, Ms Harkin says rather than addressing regional inequalities, the government seems to favour more centralisation, and that’s evidenced in Minister Phil Hogan’s plans for the Leader programme……….[podcast]http://www.highlandradio.com/wp-content/uploads/2013/05/mhark8301.mp3[/podcast] Google+ Three factors driving Donegal housing market – Robinson Calls for maternity restrictions to be lifted at LUH By News Highland – May 28, 2013 LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Almost 10,000 appointments cancelled in Saolta Hospital Group this week Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Judgement in by-election court challenge brought forward

first_img Previous articleSafety campaign launched following Derry poisoning tragedyNext articleSearch resumes for missing fisherman News Highland WhatsApp Newsx Adverts Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Twitter Guidelines for reopening of hospitality sector published Almost 10,000 appointments cancelled in Saolta Hospital Group this week LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebook RELATED ARTICLESMORE FROM AUTHOR Twitter By News Highland – November 2, 2010 center_img Pinterest WhatsApp Pinterest Google+ The Judgement on Sinn Fein Senator Pearse Doherty’s legal challenge in relation to the failure by government to hold the Donegal South West by-election has been brought forward.The decision was due to be announced next Friday but the parties involved have now been told that the outcome of the challenge will be known tomorrow.Senator Doherty says he is not reading into the early judgement one way or the other:[podcast]http://www.highlandradio.com/wp-content/uploads/2010/11/pear830.mp3[/podcast] Google+ Calls for maternity restrictions to be lifted at LUH Judgement in by-election court challenge brought forward Facebook Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more