Fannie Mae Completes Risk Sharing Transaction for $7 Billion Worth of Loans

first_img 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 Related Articles Previous: Fannie Mae Utilizes Technology to Achieve Housing Goals Next: Housing Counselors Report Substantially Improved Communications with Servicers Fannie Mae announced on Thursday the completion of another risk sharing transaction as part of an ongoing effort to reduce risk to the taxpayer by increasing the role of private capital in the mortgage market.This transaction is the fourth in Fannie Mae’s Credit Insurance Risk Transfer (CIRT) series, and third since the start of 2015. In the CIRT series, credit risk for a pool of loans is transferred to a panel of reinsurers. The latest transaction, named CIRT-2015-3, included international reinsurers for the second time in four transactions, according to Fannie Mae. The transaction became effective on August 21, 2015.”As the leading manager of single-family residential credit risk in the industry, we are focused on building a safer, sustainable housing system and our CIRT deals help these efforts,” said Rob Schaefer, VP for credit enhancement strategy & management. “Reinsurers seem to understand and appreciate our approach to managing credit risk and as a result, we’ve seen continued interest in our CIRT program. We look forward to exploring new ways to structure these transactions in the future and to growing the program and the number of reinsurers we work with as well.””As the leading manager of single-family residential credit risk in the industry, we are focused on building a safer, sustainable housing system and our CIRT deals help these efforts.”In the CIRT-2015-3 transaction, Fannie Mae is retaining the risk for the first 50 basis points of loss on a $7 billion pool of loans (totaling $35.2 million). If this layer is exhausted, reinsurers will cover the next 250 basis points of loss on the pool up to $176.2 million. The pool of loans consists of 30-year fixed rate loans acquired by Fannie Mae from September 2014 to December 2014 with loan-to-value (LTV) ratios of between 60 and 80 percent.Fannie Mae continues to reduce taxpayer risk through the CIRT program and its flagship Connecticut Avenue Securities (CAS) series program, as well as other forms of risk transfer. Since 2013, Fannie Mae has conducted eight CAS transactions. Through a combined 12 transactions between the CIRT and CAS programs, Fannie Mae has sold a portion of credit risk on $419 billion of loans and 60 percent of recent acquisitions. The transactions are structured so that Fannie Mae’s projected losses would be limited to the first-loss credit risk (50 basis points) the GSE retains if the loans covered in the transaction experience stress comparable to the 2008 housing crisis.These transactions are structured so that if the covered loans experienced the same stress as the most recent housing crisis, Fannie Mae’s projected losses would be limited to the small first-loss piece of credit risk retained by the companyFannie Mae plans to continue transferring credit risk to the private market through more CIRT and CAS transactions. For more on Fannie Mae’s CIRT program or to see the four individual transactions, click here. For more on Fannie Mae’s overall credit risk sharing initiative, click here. Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Fannie Mae Completes Risk Sharing Transaction for $7 Billion Worth of Loans Credit Insurance Risk Transfer (CIRT) Credit Risk Transfer Fannie Mae Private Market 2015-09-24 Brian Honea The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News, Secondary Market The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Tagged with: Credit Insurance Risk Transfer (CIRT) Credit Risk Transfer Fannie Mae Private Market  Print This Post 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe September 24, 2015 4,739 Views Servicers Navigate the Post-Pandemic World 2 days ago Fannie Mae Completes Risk Sharing Transaction for $7 Billion Worth of Loans Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Share Savelast_img read more

Lehman’s Brothers Holdings: 2.4 Billion Bankruptcy Offer Accepted

first_img  Print This Post Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 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 Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] June 2, 2017 1,965 Views The Best Markets For Residential Property Investors 2 days ago Previous: Less Directive to Bank Boards as the Fed Steps Back Next: Liz Bryant Named to Lead Wells Fargo’s Retail Sales About Author: Brianna Gilpin Share Save Servicers Navigate the Post-Pandemic World 2 days ago AEGON USA Investment Management and Western Asset Management Company Cascade Investment Federal Home Loan Bank of Atlanta Gibbs & Bruns LLP Goldman Sachs Asset Management Invesco Advisers Kore Advisors LLC BlackRock Financial Management Inc. Metropolitan Life Insurance Company Neuberger Berman Europe Limited Pacific Investment Management Company LLC Robert Madden Sealink Designated Activity Company The TCW Group Thrivent Financial for Lutherans through its investment manager Voya Investment Management LLC 2017-06-02 Brianna Gilpincenter_img The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: AEGON USA Investment Management and Western Asset Management Company Cascade Investment Federal Home Loan Bank of Atlanta Gibbs & Bruns LLP Goldman Sachs Asset Management Invesco Advisers Kore Advisors LLC BlackRock Financial Management Inc. Metropolitan Life Insurance Company Neuberger Berman Europe Limited Pacific Investment Management Company LLC Robert Madden Sealink Designated Activity Company The TCW Group Thrivent Financial for Lutherans through its investment manager Voya Investment Management LLC Lehman’s Brothers Holdings: 2.4 Billion Bankruptcy Offer Accepted Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Lehman’s Brothers Holdings: 2.4 Billion Bankruptcy Offer Accepted Related Articles Fourteen investors represented by Gibbs & Bruns LLP, a litigation boutique engaged in high-stakes business and commercial litigation, announced Friday that the trustees have accepted the settlement offer from the Plan Administrator for Lehman Brothers Holdings Inc., a global financial services firm that declared bankruptcy in 2008. The settlement will payout a minimum of $2.4 billion, subject to a judges approval.The counsel for the Institutional Investors, Robert Madden, called the announcement, “an important step in finally resolving the Lehman RMBS claims, and obtaining value for certificate holders in the trusts”The Settlement Agreement was accepted and entered into by the Trustees for the 238 Trusts. The Institutional Investors who are parties to the agreement include AEGON USA Investment Management, LLC; BlackRock Financial Management Inc.; Cascade Investment, L.L.C.; Federal Home Loan Bank of Atlanta; Goldman Sachs Asset Management, LP; Invesco Advisers, Inc.; Kore Advisors, LP; Metropolitan Life Insurance Company; Pacific Investment Management Company LLC; Sealink Designated Activity Company, through its investment manager; Neuberger Berman Europe Limited; The TCW Group, Inc.; Thrivent Financial for Lutherans; Voya Investment Management LLC, and Western Asset Management Company.Payment of the settlement will be distributed after the Bankruptcy Court determines the allowable amount of the claim and all required court approvals have become final. When this will happen is not certain due to whether the judicial findings required by the Settlement Agreement are granted, when the estimation proceeding to set the amount of the allowed claim is concluded, whether the amount estimated and allowed is subject to appeal, and certain required REMIC determinations.The Institution Investors will not benefit differently than other investors under the settlement. Each RMBS Trust’s allocable share of the settlement payment will flow down its payment waterfall according to the governing documents of that Trust.For more information, click here. The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

California Unveils State Consumer Financial Protection Bureau

first_img Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Previous: The Industry Pulse: Two Law Firms Merge Next: The Reverse Mortgage Conundrum Subscribe California CFPB 2020-01-10 Seth Welborn January 10, 2020 2,659 Views As part of the 2020-21 state budget proposal, California Gov. Gavin Newsom plans to roll out California’s own state-level Consumer Financial Protection Bureau. Newsom unveiled a California Consumer Financial Protection Law on Friday.“As the Trump administration undermines and weakens the rules that protect consumers from predatory businesses, California is filling the void and stepping up to protect families and consumers,” Newsom told the Los Angeles Times.The new California Consumer Financial Protection Law would allegedly overhaul the existing Department of Business Oversight and rename it the Department of Financial Protection and Innovation, or DFPI.”The federal government’s rollback of the CFPB leaves Californians vulnerable to predatory businesses and leaves companies without the clarity they need to innovate,” the budget summary stated.According to Times’ sources, the new Department of Financial Protection and Innovation would include “dozens of new staff” and greater scrutiny of consumer markets “to identify patterns of abuse.” The 2020-21 state budget will include $10.2 million Financial Protection Fund and 44 positions, growing to $19.3 million and 90 positions ongoing in 2022-23, which is intended to provide consumers with more protection against unfair and deceptive practices when accessing financial services and products.”This will be accomplished by expanding the Department’s authority to pursue unlicensed financial services providers not currently subject to regulatory oversight such as debt collectors, credit reporting agencies, and financial technology (fintech) companies, among others,” the summary adds.The DFPI’s new duties will include licensing and examining new industries that are currently under-regulated, analyzing patterns and developments in the market to inform evidence-based policies and enforcement, consumer education programs, a new Financial Technology Innovation Office that will proactively cultivate the responsible development of new consumer financial products, legal support for the administration of the new law, and additional staff to support the Department’s increased regulatory responsibilities. Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days agocenter_img California Unveils State Consumer Financial Protection Bureau About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Tagged with: California CFPB 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 Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Home / Daily Dose / California Unveils State Consumer Financial Protection Bureau Share Savelast_img read more

Over 15 buses leave Donegal for Water Charge Protest in Dublin

first_img GAA decision not sitting well with Donegal – Mick McGrath Google+ Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published Facebook Twitter Pinterest Previous articleOrange Weather Warning in place as strong winds hit NWNext articleTyrone elects GAA’s first ever female County Board Chairperson News Highland Homepage BannerNews Facebook WhatsApp Calls for maternity restrictions to be lifted at LUH center_img Over 15 buses leave Donegal for Water Charge Protest in Dublin Hundreds of people from Co Donegal are travelling to Dublin today for a national demonstration against water charges.Over 15 buses left the County at around 6:30am this morning, and they will join thousands of people outside Leinster House this afternoon.Gardai have said “plans are being put into place” to deal with events today, but the extent of potential diversions and road closures will depend on the number of people taking part.Right 2 Water PRO, Cllr Gary Doherty, says there is a huge contigent travelling from the county to Dublin this morning…………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/12/gdocweds.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter Google+ WhatsApp By News Highland – December 10, 2014 Pinterest Nine Til Noon Show – Listen back to Wednesday’s Programme RELATED ARTICLESMORE FROM AUTHOR NPHET ‘positive’ on easing restrictions – Donnelly last_img read more

Gilmore presents upbeat analysis of Labour’s Donegal prospects

first_imgNews HSE warns of ‘widespread cancellations’ of appointments next week Facebook Gilmore presents upbeat analysis of Labour’s Donegal prospects Twitter Google+ Dail hears questions over design, funding and operation of Mica redress scheme Previous articleNew Mayor highlights need to respect Bloody Sunday familiesNext articleGAA – Termon Ladies Win Gaeltacht Title News Highland By News Highland – June 8, 2010 Labour Leader Eamon Gilmore says he believes he can become the next Taoiseach. Speaking during a visit to Donegal today, Mr Gilmore said he believes the next General Election will see the three main parties contest it on an equal basis, and Labour will be out to win.Speaking to Highland Radio News, the Labour leader said part of that Labour renaissance will be to win two seats in Donegal, where he believes the party is enjoying a new wave of strong support.He says with three Labour members of Donegal County Council, there’s a new position of strength to build on………[podcast]http://www.highlandradio.com/wp-content/uploads/2010/06/egilm3pm.mp3[/podcast] Man arrested in Derry on suspicion of drugs and criminal property offences released Google+center_img PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Twitter Facebook RELATED ARTICLESMORE FROM AUTHOR Pinterest Pinterest WhatsApp Dail to vote later on extending emergency Covid powers WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derrylast_img read more

Boyd Barrett slams latest farce as Irish Water seek to clarify addresses with door…

first_imgIrish Water customers are being asked to specify the colour of their front door if they want to get the right bill.Today’s Irish Examiner claims the utility company needs help matching 50-thousand water meters to houses around the country.It says a large number of properties with similar addresses is causing confusion on their database.The problem is worst in rural areas where people give their townlands as their address.People Before Profit TD, Richard Boyd Barrett says the confusion adds to what has become a farce……….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/04/richbb12.wav00:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal WhatsApp Facebook Google+ Pinterest Twitter Dail to vote later on extending emergency Covid powers By admin – April 4, 2015 Boyd Barrett slams latest farce as Irish Water seek to clarify addresses with door colours HSE warns of ‘widespread cancellations’ of appointments next week Pinterestcenter_img Twitter Google+ Dail hears questions over design, funding and operation of Mica redress scheme RELATED ARTICLESMORE FROM AUTHOR Facebook Man arrested in Derry on suspicion of drugs and criminal property offences released Homepage BannerNews WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry Previous articleShiels wants Minister Varadkar to take action on foot of council flood reportNext articleChris McNulty previews Donegal V Mayo meeting admin last_img read more

People in Donegal urged to support relief efforts in Nepal

first_imgInternational volunteers and charities are on their way to Nepal following yesterday’s earthquake which has left more than 2-thousand people dead.17 people have also been killed following a 6.7-magnitude aftershock which triggered more avalanches on Mount Everest.50 Irish citizens are understood to have been caught up in the incident.Officials in Nepal are urging nations to send aid in the wake of the disaster – the worst the area has seen in more than 80 years.Speaking to Highland Radio News Eoghan Rice from Trócaire is appealing to the people of Donegal to donate what they can:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/04/nepahl6.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Google+ Twitter Facebook Pinterest Google+ Previous articleDonegal All County League ResultsNext articleKris Meeke & Paul Nagle win Rally Argentina admin RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNews WhatsApp Twitter Gardai continue to investigate Kilmacrennan firecenter_img By admin – April 26, 2015 WhatsApp People in Donegal urged to support relief efforts in Nepal 75 positive cases of Covid confirmed in North Main Evening News, Sport and Obituaries Tuesday May 25th Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Further drop in people receiving PUP in Donegal Facebook 365 additional cases of Covid-19 in Republic last_img read more

Update – Pringle says it’s gone beyond time for Ferry reports to be completed…

first_img Twitter 75 positive cases of Covid confirmed in North Twitter Donegal South West Deputy Thomas Pringle says it’s gone beyond time for the publication of reports on how paedophile Michael Ferry continued to have access to children for years after he was placed on a sex register.The 58-year-old received an extra seven years last week to run concurrent to 14 years in jail imposed in 2011.For the past two years, gardai and the HSE have been carrying out internal enquiries, but no details of their findings have emerged.Two Donegal South West TDs, Sinn Fein’s Pearse Doherty and Independent Thomas Pringle are tabling questions this week to Justice Minister Alan Shatter and Health Minister James Reilly.Deputy Pringle says it’s time for answers…………[podcast]http://www.highlandradio.com/wp-content/uploads/2013/12/pringferrycase.mp3[/podcast] Pinterest Google+ Pinterest By News Highland – December 16, 2013 RELATED ARTICLESMORE FROM AUTHOR Facebook Gardai continue to investigate Kilmacrennan fire Main Evening News, Sport and Obituaries Tuesday May 25th center_img Previous articleCockhill advance as Rovers bow outNext article100 wins for Harley News Highland WhatsApp Facebook Update – Pringle says it’s gone beyond time for Ferry reports to be completed and published Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republic WhatsApp News Further drop in people receiving PUP in Donegal Google+last_img read more

LYIT protest march highlights how student is forced to live in her car

first_img 365 additional cases of Covid-19 in Republic Hundreds of LYIT students marched to Government Deputy Joe McHugh’s office in Letterkenny today protesting at grant delays and possible cuts to third-level education in the next week’s budget.Students fear that many may be forced to drop out of college if grants get lower and fees increase.Many students are still awaiting news on grants for this year due to a backlog with the new centralised SUSI system.LYIT first year student Aiden Ni Ghallachoir says the situation is much worse for some than others:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/11/stud530PROTEST.mp3[/podcast] Google+ Previous articleDOE at Stormont approves NW Science Park plansNext articleDerry man with 472 convictions jailed again News Highland News LYIT protest march highlights how student is forced to live in her car Pinterest WhatsApp Google+ Main Evening News, Sport and Obituaries Tuesday May 25th Twitter By News Highland – November 28, 2012 center_img Facebook Facebook RELATED ARTICLESMORE FROM AUTHOR Twitter Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest 75 positive cases of Covid confirmed in North Further drop in people receiving PUP in Donegal WhatsApp Gardai continue to investigate Kilmacrennan firelast_img read more

Health Minister at Letterkenny General Hospital for official opening of new building

first_imgNews Pinterest Twitter WhatsApp Previous articleSoccer – Finn Harps v Longford Town PreviewNext articleGAA – Harte Makes Three Changes For Newbridge News Highland 75 positive cases of Covid confirmed in North Man arrested on suspicion of drugs and criminal property offences in Derry Further drop in people receiving PUP in Donegal RELATED ARTICLESMORE FROM AUTHOR Google+ Health Minister Dr. James Reilly is in Donegal today for the official opening of the new Emergency Department and Medical Block at Letterkenny General Hospital.The new bloc cost €24 million to construct, with significant delays experienced after the initial contractor went into liquidation.First, Minister Reilly will open the new ‘Jigsaw’ premises on Pearse Road, providing men tal health support services for young people. Google+center_img Facebook Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp By News Highland – March 22, 2013 Pinterest Facebook Health Minister at Letterkenny General Hospital for official opening of new building Twitter 365 additional cases of Covid-19 in Republic Gardai continue to investigate Kilmacrennan firelast_img read more