Ginnie Mae Expands Servicer Liquidity Facility

first_img The Best Markets For Residential Property Investors 2 days ago Liquidity servicer 2020-04-10 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Liquidity servicer  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Ginnie Mae Expands Servicer Liquidity Facility Servicers Navigate the Post-Pandemic World 2 days ago About Author: Mike Albanesecenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Ginnie Mae Expands Servicer Liquidity Facility April 10, 2020 2,724 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Ginnie Mae announced an All Participants Memorandum (APM) on Friday, expanding its servicer assistance program in response to the spread of COVID-19. The APM introduces a new version of the existing Pass-Through Assistance Program (PTAP) for servicers facing a temporary liquidity shortfall related to coronavirus. Ginnie Mae states the application of the PTAP to the  COVID-19 National Emergency allows servicers to apply for assistance meeting their contractual obligations to make “timely and full principal and interest payments” due to mortgage-backed securities (MBS) holders without being held in default.“This assistance is intended to minimize disruptions in the mortgage servicing and MBS capital markets as borrower forbearance and loss mitigation programs are implemented to provide relief to homeowners affected by the COVID-19 National Emergency,” the release states. Funds advanced by Ginnie Mae will bear a fixed-rate of interest. The rate will apply to a months’ pass-through assistance to servicers will be posted on Ginnie Mae’s website. “This is an extraordinary and last resort option for Issuers in these unprecedented times, that will enable them to continue to serve homeowners and renters in America who rely on the government mortgage programs financed by Ginnie Mae,” said Ginnie Mae Principal EVP Seth Appleton. “As important, this program underscores Ginnie Mae’s commitment to ensure timely payment of scheduled principal and interest to investors holding our MBS in all market conditions.”Ginnie Mae previously announced the approval of the inclusion of a facility to advance funds under its Acknowledgement Agreement Program. The agreement states Ginnie Mae has permitted a Note Securitization (NS) structure, which was developed in 2016 and allows for the securitization of servicing cash flows through a trust. A release from Ginnie Mae says this structure has been “strongly supported” by institutional investors that lacked a vehicle for investing in mortgage servicing rights (MSRs). Five of Ginnie Mae’s top 11 issues—based on February issuance volume—use the NS structure. “Owning and servicing MSRs is a capital-intensive proposition, and the more avenues that exist for private capital to flow into the system on attractive terms, the easier it becomes to fulfill our mission of bringing global capital into the US housing market, while minimizing risk to the taxpayer,” Appleton said. “We are pleased to have been able to finalize this transaction, because it represents another step forward in the improvement of the liquidity supply for the housing finance system.” 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. Previous: St. Louis Fed Economist on Recession Threat, Housing Next: Unemployment Could Lead to Mortgage Forbearance Surge Subscribe Share 2Save Sign up for DS News Daily last_img read more

TSB: SBI Carioca Refloated at High Tide

first_imgThe bulk carrier SBI Carioca, which ran aground around 8 am on October 11 off New Brunswick, was refloated with the help of two tugs at high tide in the evening hours the same day.The vessel is scheduled to dock at Belledune “sometime this morning,” Pierre Murray, Transportation Safety Board (TSB) of Canada’s regional manager of operations for the Atlantic region, told World Maritime News.The 81,262 dwt bulk carrier did not report any pollution following the incident, nor any water ingress. Additionally, there were no reports of injuries to the ship’s crew.TSB’s team of investigators was deployed to the scene of the grounding some one nautical mile east of Belledune to gather information to determine the cause of the incident. Murray said that the ship’s voyage data recorder data will be downloaded and crew interviewed.SBI Carioca grounded on a shoal while it was on its way to the Belledune port from the US port of Norfolk, carrying a cargo of 65,000 metric tonnes of petroleum coke.World Maritime News Stafflast_img read more

Flood Watch for Treasure Coast through Saturday

first_imgWATCH LIVE RADAR: Expect heavy rainfall and thunderstorms in the Treasure Coast and Palm Beach County.A flood warning is in effect for eastern Martin County until 6:15 p.m. A flood watch is in effect for Martin, St. Lucie, Indian River, and Okeechobee counties until Saturday afternoon.last_img

Triple Golds in Denver for Westport Winery

first_imgFacebook26Tweet0Pin0Submitted by Westport Winery Garden ResortWestport Winery earned three gold medals in the 12th Annual Denver International Wine Competition. This is the largest double blind, professionally judged wine competition in the Rocky Mountain region. Only the gold medal winning wines will be served on Thursday November 3, 2016 at the Denver International Wine Festival.Photo courtesy: Westport Winery.Shorebird Chardonnay made with grapes from Conner-Lee Vineyard near Othello in the Columbia Valley AVA earned one of these medals. The tasting notes describe this wine as “Sophisticated, starbursts, clean and crisp.” A portion of the proceeds from the sale of this wine benefits the Grays Harbor Audubon Society. A sculpture by Aberdeen artist Mike Peterson, commemorating this wine is on display on the winery’s patio. The label was painted by watercolorist Darrel Easter, a long-time friend and surf partner of winery co-founder, Blain Roberts.Smoky Nor’wester, the winery’s newest red blend, also earned a gold medal with 35% Cabernet Sauvignon, 31% Merlot, 26% Cabernet Franc and 8% Syrah. It is said to have “Maserati intensity, like a good spanking.” The tasting notes suggest you enjoy it with a ’Shroom Steak while listening to Life’s Been Good To Me So Far by Joe Walsh. This wine benefits the Museum of the North Beach in Moclips and is commemorated in a carving by Westport artist Nicole Demmert. The image for this label was taken from the archives of the Museum. Photo courtesy: Westport WineryShiver Me Timbers, the winery’s unique passionfruit, orange, guava (POG) Riesling also brought home the gold with its “waves of tropical bliss.” A portion of the proceeds from this wine benefits Grays Harbor Habitat For Humanity. Its sculpture was also created by Mike Peterson. They suggest this wine be paired with their Benedictine Quiche during the weekly Sunday brunch at the winery’s restaurant. The Technicolor image of Lahaina Harbor used on this label was created by Lahaina photographer and Roberts family friend Randy Miller. All of these wines are available for tasting at Westport Winery Garden Resort located on the corner of Highway 105 and South Arbor Road halfway between Aberdeen and Westport. The resort (including the restaurant, bakery, nursery and gardens) is open daily, offering lunch and dinner from 11 a.m. to 7 p.m. The wines are also available at their second location, Westport Winery TASTING @ Cannon Beach, at 255 N. Hemlock. This tasting room and gift shop is open daily from 11 a.m. to 6 p.m.Westport Winery was named 2011 Washington Winery to Watch by Wine Press Northwest. They have been voted Best Winery by King 5 Evening Magazine for six of the past eight years. They were named the Best Washington Family Business Silver Medal winners in 2012, received the Grays Harbor Environmental Stewardship Award in 2015, and were name Best Winery, Best Wine Shop, and Best Boutique Winery for 2016 by South Sound Magazine.last_img read more

Bombers undefeated after two in Chilliwack

first_imgBy The Nelson Daily SportsThe L.V. Rogers Bombers remain undefeated following two games today at the 16-team Best of the Best High School Boy’s Soccer Tournament in Chilliwack.LVR opened with a 3-1 victory over Valleyview of Kamloops. Kevin Lewis, Eric Norberg and Luke Mori scored for the Bombers.The Bombers then ran into a red-hot goalkeeper, playing to a scoreless draw against G.W. Graham of Chilliwack.LVR has one more game in the day to conclude the round robin draw against Vancouver’s Handworth Royals.Other teams in the tournament are from Northern B.C., the Fraser Valley, Okanagan and Vancouver regions.The round robin record determines where teams advance into the playoff round.The final is set for 2:15 p.m. Friday. [email protected]last_img read more

Seeds of Learning can now fund another school in El Salvador

first_imgWhen the 60 students arrive in El Salvador, they will be building a school over the course of two weeks.It costs around $7,000 to build a school in the central American country, and the Rotary Club donated nine thousand dollars towards the project last month. And so, with Remax’s donation of another seven thousand on Friday, Seeds of Learning can now fund a second school. [asset|aid=1506|format=mp3player|formatter=asset_bonus|title=8355d77842801bd0872b67ae19eafaa5-Laychuck 2_2_Pub.mp3]Advertisement The students will be heading to El Salvador this summer. Photo: Members of the Seeds of Learning program accept a $7,000 donation from Remax Reality – Adam Reaburn/Energeticcity.caChildren in El Salvador will be getting another school, thanks to a $7,000 donation from Remax Reality. – Advertisement -Fort St. John Remax donated the money on Friday to the Seeds of Learning program. Instructor and organizer Derrick Laychuck says the students have now raised exactly 100 thousand dollars, over the past year.He says students paid for the trip themselves, and got 500 dollars back, through fundraising efforts. [asset|aid=1505|format=mp3player|formatter=asset_bonus|title=8355d77842801bd0872b67ae19eafaa5-Laychuck 1_2_Pub.mp3] Advertisementlast_img read more

Letterkenny driver caught with no tax, no insurance and quantity of cannabis

first_imgA car was seized in Letterkenny last week with a series of violations. Gardaí detected the car on Friday evening when they discovered neither the driver or passenger were wearing a seatbelt.Upon further inspection of the vehicle, Gardaí found that the motorist had no tax and no insurance. A small quantity of cannabis was also found.The car was seized and the driver is set to face a prosecution for the road violations – with a fixed charge penalty notice also issued.Gardaí shared details of the incident on social media this morning with a warning: “It is so important to wear your seatbelt whether you are driving or in a car as a passenger. Always ensure that your car has valid insurance and Tax/NCT before using it in a public place.”Letterkenny driver caught with no tax, no insurance and quantity of cannabis was last modified: September 9th, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

Sibanye – Stillwater commits to improving safety at work as it rolls out its safety strategy

first_imgSouth Africa’s economic activity is mainly centred on mining, therefore, it is important that crucial safety strategies are implemented. The safety of employees is very imperative particularly in the mining sector as success lies in the employees’ capability to work effectively in a conducive environment. It is every employee’s right to work in a safe and healthy environment, no employees should have to suffer because of preventable dangers in the work environment.In 2014 the mining sector contributed R18 billion to the South African fiscus, a total of 495,568 people were employed. With numbers like these, it has become necessary for all stakeholders to work together, to support and enable the achievement of zero harm in the workplace.Sibanye-Stillwater is the largest individual producer of precious metals in South Africa and is one of 10 largest gold producers globally. It has recently experienced a significant increase in incidents, with 20 employees having lost their lives in nine separate incidents since February 2018.In a recent statement CEO of Sibanye-Stillwater, Mr Neal Froneman said; “One life lost is one too many. We are appalled by the loss of our employees’ lives at our mines over the past few months. It pains all of us when employees are injured or lose their lives in safety incidents. While we cannot rectify the harm that has occurred, we will continue to support the families as best we can in their grief”.In the process of improving safety at all their operations, Sibanye – Stillwater rolled out a safety strategy in 2017. “The safety of employees is our primary concern and, if it is not safe to operate, we expect conditions to be fixed before work can resume at a working place. There is substantial evidence that well-organised workplaces are both safe and productive, and that is our aim”, adds Froneman.Sibanye – Stillwater has committed to;Launch a safety summit with stakeholders to work towards a common goal of reducing work-related fatal accidents and injuriesContinue to provide necessary support, including counselling, financial backing, housing, education support and other benefits to the grieving families of the deceased employeesSupport and promote adherence to Section 23 of the Mine Health and Safety ActEstablished safety programmes which inform employees, supervisors and managers about the right to withdraw from an unsafe workplace and how to apply Section 23 responsiblyInstituted a programme to promote the behaviour change required so that the right to withdraw becomes an integral part of our workplace cultureAfford employees a formal grievance procedure and an anonymous tip-offs system that any employee can use if they are given an unlawful instruction or are victimised.The launch of Digiine a collaborative partnership between Sibanye – Stillwater and the University of the Witwatersrand is expected to complement and improve safety and operating effectiveness.last_img read more

Sri Lanka level ODI series with big win over SA

first_img10 July 2014Despite a defiant century from in-form Hashim Amla, the Proteas slumped to an 87-run defeat to Sri Lanka in the second one-day international at Pallekele International Cricket Stadium in Kandy on Wednesday.Sri Lanka’s victory levelled the three-match series at 1-1, with the series-decider set to be played in Hambantota on Saturday.Top scoreAfter winning the toss, Sri Lankan skipper Angelo Mathews elected to bat and it proved a good decision as Tillikaratne Dilshan led the way from the top of the order with an innings of 86 off 90 balls to help the home team to 267 all out after 49.2 overs.Mahela Jayawardene weighed in with a slowish 48, while Lahiru Thirimanne contributed 36 and Matthews 34.Steyn injuryUnfortunately for the Proteas, they lost fast bowler Dale Steyn to a hand injury in only his third over when he tried to take a sharp caught and bowled off a shot by Dilshan. Fortunately for South Africa, however, fears that he might have broken the hand were later dispelled and he could be available for Saturday’s showdown.In Steyn’s absence, Ryan McLaren once again underlined his all-round value to the team with a return of 4 for 48 from his 10 overs. Imran Tahir snared 2 for 41 in his 10, while Vernon Philander returned 2 for 49 in 7.2.Amla’s excellenceOnly three South Africans reached double figures in the Proteas’ batting reply. Despite this, Amla struck his third consecutive century, following tons against a Sri Lankan Board President’s XI and against Sri Lanka in the first ODI. He made 101 off 102 balls, in an innings of just 180 all out.“He’s an amazing cricketer and it is great to have him in our side, especially when he is playing like that,” South African captain AB de Villiers said in a post-match interview. “Even though we lost tonight, we still have confidence in him and the whole batting line-up to get it right in the last game.”DamageNew ball bowler Lasitha Malinga did plenty of damage to the South African batting, claiming a haul of 4 for 24 in six overs, but it was the Sri Lankan spinners who put the skids under the South African batting effort by taking wickets and restricting scoring.Dilshan secured the man of the match award by following up his 86 with a return of 3 for 40 with the ball. Ajantha Mendis also excelled, picking up 2 for 18 in 6.1 overs.‘I’m very disappointed’“I’m very disappointed. I thought we started really, really slowly with the ball, but pulled it back nicely to what seemed like a decent total to chase down,” De Villiers said.“We started really well with the bat and Hash played an amazing innings, but we unfortunately could just not form partnerships around him, so it’s very disappointing, but we are still in the series and we’ll move on to Hambantota and try and fix things there.‘A big blow’Assessing what the loss of Steyn meant to South Africa’s chances in the big loss, he concluded: “Look, losing Dale was a big blow up front. I thought the guys tried really hard right until the end of our bowling innings. I thought we did extremely well to get it down to 260-odd, which was chaseable, not easy, but chaseable.“I would have liked to see us get closer than what we did.”last_img read more

Student Tablet Maker Kno Reportedly In Talks To Sell Off Its Tablet Manufacturing

first_imgWhy Tech Companies Need Simpler Terms of Servic… Tags:#news#web audrey watters Top Reasons to Go With Managed WordPress Hosting Related Posts center_img Kno, the makers of single- and dual-screen tablets for students, is looking to sell off the hardware manufacturing part of its business, according to All Things Digital’s Kara Swisher. Swisher reports that “sources close to the situation” say that Kno is in talks with two major consumer electronics manufacturers.The Kno had been touted as an alternative to the iPad – and a high-profile one at that, with a $46 million investment last fall from Andreessen-Horowitz and a strong endorsement from Marc Andreessen who called the device was “the most powerful tablet anyone has ever made.” But the device has never really materialized. Initially set for release around the holidays, shipments have been delayed, according to Engadget, and Kno website now says “there aren’t enough to go around.” The Year of the Educational Tablet? Kno, short for knowledge, aimed to be a touch-screen tablet focusing on providing digital textbooks, course materials, note-taking, web access, and educational applications. The device boasted a stylus so that students could take notes directly onto the screen. But many have been skeptical about Kno’s promise of seizing the student market, due in no small part to its price, ranging from $599 for a single screen and $999 for the dual screen device.Despite some of the drawbacks with the Kno, many people (myself included) have predicted this to be the year of the educational tablet, and schools and students are moving to adopt them – iPads and Android devices alike. And while Kno may be looking to get out of the tablet manufacturing business, Swisher suggests it isn’t leaving the educational tablet market altogether. Rather, the company will shift to “deliver textbook and other student-related delivery system [that] would be a better path for all that investment money, since Kno has established a wide range of partnerships with colleges and universities.” Indeed, Kno co-founder Osman Rashid has multiple connections in the industry, as he is the co-founder of the textbook rental company Chegg. 8 Best WordPress Hosting Solutions on the Market A Web Developer’s New Best Friend is the AI Wai…last_img read more