Fairholme: Status Quo Makes Another Bailout ‘Inevitable’

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Fairholme: Status Quo Makes Another Bailout ‘Inevitable’ Fairholme: Status Quo Makes Another Bailout ‘Inevitable’ Share Save Tagged with: Fannie Mae Freddie Mac Net Worth Sweep Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, Secondary Market The Net Worth Sweep, or the sweeping of all Fannie Mae and Freddie Mac profits into Treasury, has been under more intense scrutiny as of late since some of the documents related to Fairholme Funds’ lawsuit against the government over the Net Worth Sweep were unsealed in April.The recently unsealed documents suggest that key government officials, namely Fannie Mae’s CFO, may have known that the GSEs were on the verge of huge profitability when the bailout agreement was amended in August 2012 to start the Net Worth Sweep.As a preferred stockholder in the GSEs and one of the Enterprises’ largest investors, Fairholme has one of 22 current lawsuits against the government that involves the Net Worth Sweep.“We have made enormous progress over the last 12 months, largely behind the scenes,” Fairholme CEO Bruce Berkowitz said in a recent interview. “With each passing day, we seem to be getting closer to the finish line, so I remain very optimistic.”Add to that the fact that the GSEs’ capital buffer is being reduced by $600 million per year until it reaches zero by January 1, 2018, as well as the fact that Freddie Mac has suffered a loss in two of the last three quarters, and many stakeholders in the mortgage industry, as well as GSE investors and shareholders such as Fairholme, are deeply concerned about the possibility of another taxpayer-funded bailout.“Fannie and Freddie have over $5 trillion of liabilities outstanding, yet Treasury is milking them of all their income and forcing them to operate with no capital,” Berkowitz said. “It’s absurd. If the government takes all of your wealth every quarter as the return on a forced investment, and never allows the repayment of that forced investment, then it is inevitable that there will come a time in the future when the government will force more investment on you, another so-called bailout.”To be clear, Berkowitz does not want to get rid of Fannie Mae and Freddie Mac; after all, he said, “Who else makes the 30-year pre-payable fixed-rate mortgage widely available through thick and thin? Who else can provide $7 trillion of liquidity to America’s housing market since 2009 helping low and moderate-income Americans buy, rent, or refinance a home?”Berkowitz simply wants the GSEs released from government control, “the same as AIG.” He added, “I believe the United States Treasury is growing increasingly isolated as a result of its eight-year policy forcing Fannie and Freddie to remain in a state of captivity known as ‘conservatorship.’ It is a shame and a huge delay of game.”Fannie Mae and Freddie Mac are two of the largest companies in the world, he said, and they are not going away, as evidenced by Freddie Mac hiring hundreds of new employees and Fannie Mae moving into a new million square foot office in Washington, D.C.“It is still hard to believe that some in Washington want to eliminate them in the hope of finding something better, or at least finding something that caters better to their special interests and crony capitalists,” Berkowitz said. Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Fannie Mae Freddie Mac Net Worth Sweep 2016-05-24 Brian Honea Subscribe Previous: Coalition Pushes for Stricter Wall Street Regulation Next: Clinton and Trump Spar Over ‘Housing Bubble’ Remarks 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago May 24, 2016 1,310 Views last_img read more

Nation Takes Aim at Veteran Homelessness

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post About Author: Aly J. Yale Tagged with: Associated Press Auction.com David Shulkin Ed Delgado Five Star Institute Homelessness Housing Projects Keys for Life military Heros Operation Homefront Veteran Veteran Affairs 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 Previous: Fannie Mae Gets Green Light on Third Front-End CIRT Next: Week Ahead: Update on Economic Conditions in the Beige Book Demand Propels Home Prices Upward 2 days ago May 26, 2017 1,528 Views Nation Takes Aim at Veteran Homelessness The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Nation Takes Aim at Veteran Homelessness Sign up for DS News Daily center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Associated Press Auction.com David Shulkin Ed Delgado Five Star Institute Homelessness Housing Projects Keys for Life military Heros Operation Homefront Veteran Veteran Affairs 2017-05-26 Aly J. Yale in Daily Dose, Events, Featured, Headlines, News Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Just last week, the city of San Francisco opened up a new veterans housing complex, giving 722 local veterans homes. According to Mayor Ed Lee, the city will open another 128 be the end of this year.On a larger scale, Senator Richard Burr (R-North Carolina) and Sen. Jon Tester (D-Montana) recently introduced the Homeless Veterans Prevention Act, a bill that would allow veterans to take their children along when using assistance housing. In the past, most housing programs only allowed veterans themselves in housing units, a shortcoming that made it hard for parents—particularly women—to participate.In September, the Five Star Institute will do its part toward ending veteran homelessness by hosting its annual Military Heroes Keys for Life event on September 19. In partnership with Operation Homefront, a non-profit provider for emergency financial relief and housing for military families, Keys for Life will present five wounded veterans with mortgage-free homes.In addition to Five Star and Operation Homefront, Auction.com, Aspen Grove Solutions, MCS Mortgage Contracting Services, ZVN Properties, Alacrity Services, Single Source, and US Best Repair Service are also sponsoring the event. Auction.com alone is donating $100,000 this year to Operation Homefront. This is the seventh year the Five Star Institute has hosted the Keys for Life event. To date, the Five Star Institute has partnered with Operation Homefront to donate more than 30 homes to veterans.“As we pause this Memorial Day to honor the brave servicemen and woman who gave the ultimate sacrifice in the name of freedom, I am ever reminded of those organizations from across our industry that come together to support this important cause,” said Ed Delgado, CEO and President of the Five Star Institute and Board Member of Operation Homefront. “We are humbled and proud to offer a small expression of gratitude to America’s finest. We hope to make a difference in their lives and the lives of their loved ones.”David Shulkin, the Chief of Veterans Affairs, recently told the Associated Press reducing the number of homeless veterans to 10,000 to 15,0000 was an “achievable goal” over the course of the Trump administration. Events like Keys for Life, as well as other efforts going on throughout the country, are sure to help.To learn more about Keys for Life, visit FiveStarConference.com. Aly J. Yale is a longtime writer and editor from Texas. Her resume boasts positions with The Dallas Morning News, NBC, PBS, and various other regional and national publications. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more. Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Savelast_img read more

Appraisals in the Wake of Disaster

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn in Daily Dose, Featured, Loss Mitigation, Market Studies, News Tagged with: Appraisal Insurance Natural Disasters The Week Ahead: Nearing the Forbearance Exit 2 days ago Appraisal Insurance Natural Disasters 2019-05-16 Seth Welborn Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Appraisals in the Wake of Disaster Related Articlescenter_img Appraisers often find that following a disaster, determining home values can be a challenge. A recent report from Corelogic, takes a look at what factors impact the appraisal process following severe natural disasters, and why homeowners affected by storms and other disasters may seek an appraisal. When a home is partially damaged, a homeowner may seek an appraisal to help support a diminution in value in order to seek a reduction in property taxes. These “as-is” property value opinions could be hard to quantify because the damage may impact the true market potential of the property.If a home is completely destroyed, it can create more challenges. It may be impossible to determine the home’s quality and condition prior to destruction, and some homes, such as those destroyed by wildfires, may not be able to adequately offer local sales comps. Even if a house is still intact, the damage on a surrounding area may still negatively impact homes value. Loss of vegetation and changes in market conditions due to natural disasters may play into a home’s value, despite a lack of damage. Additionally, the risk of further catastrophe may impact appraisals. Corelogic notes that the fear that hazards such as wildfires or floods may return in the near future may impact values and delay the rebuilding process.Corelogic also notes how policies can cause the values to vary, and that a policy is often determined not by the appraisal or assessment, but by the reconstruction costs, which unlike an appraisal, captures all of the additive costs associated with rebuilding after a loss. Without proper insurance, many homeowners impacted by natural disaster may be forced into foreclosure. CoreLogic’s 2019 Insurance Coverage Adequacy Report reveals how underinsurance can leave an impact on the lending industry.According to Frank Nothaft, Chief Economist for CoreLogic, “The disruption of a family’s regular flow of income and payments, as well as substantial loss in property value, can trigger mortgage default; especially if homeowners are underinsured and cannot afford to rebuild.”Corelogic concludes that “if information is power, then having full disclosure of a property helps protect families and businesses from financial catastrophe.”Learn more about how to prepare for natural disasters at the 2019 inaugural Five Star Disaster Preparedness Symposium, at the Hotel Monteleone in New Orleans. The Symposium provides an opportunity for national leaders and executives to engage in critical conversations on diligence and preparedness, so the next time a natural disaster strikes, the industry will be ready to lend the proper support. Register for the Symposium here. Appraisals in the Wake of Disaster Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily  Print This Post 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 Servicers Navigate the Post-Pandemic World 2 days ago May 16, 2019 1,008 Views Previous: A Positive Outlook for Home Demand? Next: Leadership Changes Announced at Ginnie Mae Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Fixing Post-Crisis Foreclosure and Rental Issues

first_img The Best Markets For Residential Property Investors 2 days ago Tagged with: Foreclosure Investment Rental After many single-family homes went into foreclosure after 2008, investors, instead of re-selling, turned these homes into rentals. A new study from Cornell authored by Suzanne Lanyi Charles, assistant professor of city and regional planning, identified how these rental trends impact housing, from more unaffordable housing and household instability to increased rents and evictions, depressed house prices and deferred maintenance.“Single-family rental housing is an increasingly prevalent form of housing tenure in U.S. suburban neighborhoods, representing a paradigm shift in how households gain access to a suburban single-family home,” Charles wrote.Charles notes that in an attempt to stabilize neighborhoods hit hard in 2008, foreclosed single-family houses were sold off in bulk to large corporations. Increases in suburban single-family rental housing may provide households access to neighborhoods that are otherwise off-limits to renters, Charles said, but the reverse is also true.Charles notes that while policymakers including Democratic presidential candidate Elizabeth Warren have proposed legislation limiting large-scale institutional investment in single-family rental housing.Warren noted that, as President, she would create a national public database of information about large corporate landlords, including information like corporate landlords’ median rent, the number and percentage of tenants they evicted, building code violations, the most recent standard lease agreement used, and the identity of any individuals with an ownership interest of 25% or more, either directly or indirectly, in large landlords’ corporations, LLCs, or similar legal entities.According to Charles, while Warren’s plan is more “broad brush,” more focused changes may be more impactful.“Single-family rental housing in some neighborhoods may afford renters access to the opportunity that some neighborhoods can provide, while … in others [it] may have negative effects on households and neighborhoods,” Charles said. “Thus, a highly tailored policy approach to single-family rental housing is warranted.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Foreclosure Investment Rental 2019-11-26 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Share 1Save in Daily Dose, Featured, Foreclosure, Investment, News Related Articles  Print This Postcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Fixing Post-Crisis Foreclosure and Rental Issues November 26, 2019 2,890 Views 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 Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Fixing Post-Crisis Foreclosure and Rental Issues About Author: Seth Welborn Previous: Los Angeles Vacancies Outpace Homeless Population Next: The Challenges Facing Law Firms, Servicers in 2020 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. last_img read more

MEP claims repeated searches for a flight may push up the price

first_img NPHET ‘positive’ on easing restrictions – Donnelly Almost 10,000 appointments cancelled in Saolta Hospital Group this week News Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR Pinterest By News Highland – July 19, 2013 WhatsApp Pinterest Guidelines for reopening of hospitality sector published Twitter MEP claims repeated searches for a flight may push up the pricecenter_img Google+ Google+ Twitter Previous articleDonegal councillor says council must not pass LPT on to tenantsNext articleDrumquin community being urged to join search for Lisa Mc Gowan on Saturday News Highland Northwest MEP Jim Higgins has claimed that airlines companies are bumping up prices if they feel an individual is likely to book.Mr Higgins claims companies are storing details of searches from individual computers to deduce how interested a consumer is in a particular flight and adjusting the price upwards.Jim Higgins says in a large number of cases, a consumer who checks a particular flight several times over a week or two, will often find that the price increases.He says he was shocked to find that if you check the same flight from the same computer, the price of the flight goes up, but that’s not necessarily the case if you check the price from a neighbour’s computer or smartphone.The North West MEP, who is Ireland’s representitive on the European Parliament’s Transport and Tourism Committee is advising consumers to check prices from different IP addresses. Facebook Facebook WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Calls for maternity restrictions to be lifted at LUH last_img read more

Council Road Safety Officer urges everyone to be aware of changed driving conditions

first_img Facebook Donegal County Council’s Road Safety Officer says all road users must be extra careful in the coming weeks as winter time sets in.Brian O’Donnell says after the clocks went back last weekend, the driving landscape is very different in the evenings, and bad weather makes the situation even more challenging………….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/10/brianvisibilitity.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Nine Til Noon Show – Listen back to Wednesday’s Programme Pinterest WhatsApp Calls for maternity restrictions to be lifted at LUH Facebook Google+ WhatsApp Previous articleDerry councillor traffic management needs in Glenowen must be reassessedNext articleHarps will be away first if they reach promotion/relegation play-offs News Highland Homepage BannerNews Twittercenter_img Pinterest Council Road Safety Officer urges everyone to be aware of changed driving conditions LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published By News Highland – October 28, 2015 Google+ GAA decision not sitting well with Donegal – Mick McGrath RELATED ARTICLESMORE FROM AUTHORlast_img read more

More details of weekend school protest revealed

first_img Facebook Further details of this weekends demonstration against cuts in primary schools in Donegal have been announced.Protesters will meet at the Port Road in Letterkenny at 2pm, and from there they will walk to the Market Square, were a number of people, including representatives of the INTO will address those in attendance.It was announced yesterday by the Education Minister that up to 30 posts could be lost in primary schools in Donegal by the end of this year.Organiser Fr John Joe Duffy expects a large turnout as parents and teachers are very angry with these cuts:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/03/jjd830.mp3[/podcast] WhatsApp Google+ Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week Newsx Adverts WhatsApp By News Highland – March 8, 2012 Facebook Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton center_img RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH Google+ More details of weekend school protest revealed Need for issues with Mica redress scheme to be addressed raised in Seanad also Guidelines for reopening of hospitality sector published Previous articlePolice appeal after Derry assault and robberyNext articleDonegal Deputy says government health plans will make matters worse News Highland Pinterest Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Twitterlast_img read more

Mc Crossan calls for more investment in West Tyrone road maintenance

first_img Twitter Homepage BannerNews WhatsApp Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton RELATED ARTICLESMORE FROM AUTHOR Facebook Previous articlePSNI arrest three during anti-counterfeiting operation in DerryNext articleNI Infrastructure Minister pledges progress on A5 and A6 admin By admin – June 16, 2016 Pinterest Twitter Calls for maternity restrictions to be lifted at LUH center_img Pinterest Google+ GAA decision not sitting well with Donegal – Mick McGrath Calls have been made on the Norths new Infrastructure Minister to prioritise essential maintenance work on roads in the West Tyrone area.The call comes after it was revealed that repair work in the area fell from 96% of target in 2013 to 63% last year.SDLP West Tyrone MLA Daniel McCrossan says transportation options in the area are limited, and people rely heavily on roads being up to standard:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/06/mccrossan.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Google+ Guidelines for reopening of hospitality sector published Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Mc Crossan calls for more investment in West Tyrone road maintenance Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApplast_img read more

Violent scenes as Junior Cert students celebrate in Letterkenny

first_img Violent scenes as Junior Cert students celebrate in Letterkenny Calls for maternity restrictions to be lifted at LUH By News Highland – September 13, 2012 LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Twitter Google+ WhatsApp Facebook Need for issues with Mica redress scheme to be addressed raised in Seanad also Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey WhatsAppcenter_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleDonegal County manager tells committee of importance of A5 progressingNext articleFirst patients seen at new LGH’s Emergency Department News Highland Twitter Pinterest RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published Witnesses have described running battles between youths in Letterkenny last night with claims that there was a lack of a proper garda presence.One parent has told how her son was forced to flee the area of the Main street after he and his friends were set upon by a second large group of youths.The town was very busy last evening as students celebrated their Junior Cert results.These callers to the ‘Shaun Doherty Show’ witnessed last night’s events:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/09/callers1.mp3[/podcast] News Pinterest Facebooklast_img read more

VEC responds the tragic death of Finn Valley teenager

first_img Google+ WhatsApp By News Highland – December 13, 2012 Man arrested on suspicion of drugs and criminal property offences in Derry Facebook Man arrested in Derry on suspicion of drugs and criminal property offences released Dail hears questions over design, funding and operation of Mica redress scheme Facebook WhatsApp VEC responds the tragic death of Finn Valley teenager Twitter Pinterestcenter_img Pinterest Google+ The VEC has put in place its critical incident team folowing the tragic death of a 4th year student at the Finn Valley College.Shannon Gallagher was the sister of Erin Gallagher who died in tragic circumstances in October.The head of the Donegal VEC Sean Purcell said it is an extremely difficult time for all concerned and their thoughts and prayers are with her family, school and community at this sad timeMr Purcell said the welfare of its students and staff is the primary concern of the Donegal VEC.He asked that the appropriate agencies are allowed the necessary time and space to support the school from the Press and Media.Meanwhile an Aunt of Shannon and Erin Gallagher have asked that the family been given some privacy at this time.You can call The Samaritans from the Republic of Ireland on 1850-609090 or from Northern Ireland 08457-909090. Dail to vote later on extending emergency Covid powers Previous articleCensus figures reveal continued deprivation in StrabaneNext articlePadraig MacLochlainn physically blocked from voting on Budget 2013 News Highland News Twitter HSE warns of ‘widespread cancellations’ of appointments next week PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal RELATED ARTICLESMORE FROM AUTHORlast_img read more