FHFA Updates Timeline for Purchase of Qualified Loans in Forbearance

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Borrower Protection Program CFPB COVID-19 FHFA Forbearance Previous: Vital Tools for Single-Family Rental Next: How Much Will Foreclosures Surge in the Months Ahead? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago FHFA Updates Timeline for Purchase of Qualified Loans in Forbearance August 3, 2020 1,159 Views Borrower Protection Program CFPB COVID-19 FHFA Forbearance 2020-08-03 David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Chuck Green has contributed to the Wall Street Journal, Washington Post, Los Angeles Times, San Francisco Chronicle, Chicago Tribune and others covering various industries, including real estate, business and banking, technology, and sports. Related Articles The FHFA approved an extension of its temporary policy allowing the acquisition of certain single-family mortgages in forbearance that satisfy Fannie Mae and Freddie Mac-established eligibility requirements. The extension of the policy applies to loans originated through August 31, 2020.A joint effort of the CFPB and FHFA, the Borrower Protection Program was instituted earlier in the year in order to ensure “borrowers are protected during the coronavirus national emergency and facilitate related information sharing.” FHFA shares “aggregated data on loans that enter forbearance before delivery to the Enterprises” with the CFPB.Thanks for the data sharing, the FHFA will be positioned to meet its obligations under the so-called “QM Patch.” It’s an assurance that loans sold to the Enterprises are complying with the intent of Dodd-Frank’s ability to repay provisions.Extending the Enterprises’ ability to purchase these previously ineligible loans will help provide liquidity to mortgage markets, suggested Director Mark Calabria. “That said, to make homeownership sustainable, lenders have a responsibility to ensure that borrowers can make their monthly mortgage payment,” he continued.Not long after closing on their single-family loan and preceding the lender’s ability to deliver the mortgage loan to the Enterprises, some borrowers have pursued payment forbearance in the midst of the pandemic. Typically, under Enterprise requirements, mortgage loans in forbearance or delinquency fail to qualify for delivery.A temporary policy, forging the way for delivery for certain single-family mortgages in forbearance, was announced on April by the FHFA. As a result of the extension, this policy for loans originated through August 30 of this year remains in place. Additionally, eligibility loans will remain priced to mitigate the accentuated loss potential to the Enterprises stemming from these loans. The fulfillment of the Enterprises’ charter requirements to purchase loans exclusively that satisfy the purchase standards imposed by private, institutional mortgage investors are ensured by the prudential measures.Meanwhile, as needed, FHFA still will keep tabs on the coronavirus’ impact on renters, borrowers, and the mortgage market and update policies. For more information, you can visit the joint Department of Housing and Urban Development, FHFA, and CFPB website at cfpb.gov/housing. Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Chuck Green Share Save Home / Daily Dose / FHFA Updates Timeline for Purchase of Qualified Loans in Forbearance Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post in Daily Dose, Featured, Foreclosure, Government, Journal, News Subscribe last_img read more

Lyon accept €27million bid for former Arsenal star Jeff Reine-Adelaide

first_imgAdvertisement Metro Sport ReporterWednesday 30 Sep 2020 5:13 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link448Shares Lyon accept €27million bid for former Arsenal star Jeff Reine-Adelaide Lyon manger Rudi Garcia is battling to keep hold of their prize assets including the likes of Houssem Aouar (Picture: Getty)Lyon have accepted a €27million offer from Hertha Berlin for former Arsenal midfielder Jeff Reine-Adelaide.The 22-year-old joined last season’s Champions League semi finalists last summer having resurrected an injury ravaged career during his solitary season at Angers. Reine-Adelaide made just 14 Ligue 1 appearances for Lyon last term, however, and had been keen to move on again in search of regular first team football. Rennes had been in contention to sign the elegant midfielder whose burgeoning Arsenal career was effectively ended by a cruciate knee ligament injury but the French club were unwilling to to offer more than the €24m plus €1m in bonuses.AdvertisementAdvertisementADVERTISEMENTHertha have now agreed personal terms with the France Under-21 international who is expected to complete his move to Germany before next week’s deadline, according to BILD. Jeff Reine-Adelaide is on the verge of joining Hertha Berlin from Lyon (Picture: Getty)Lyon, meanwhile, are continuing to fend off interest from Arsenal in their captain and prize asset Houssem Aouar. Mikel Arteta has identified the 22-year-old as the ideal player around whom he can build a new-look midfield.Lyon President Jean-Michel Aulas said earlier this week, however, that Arsenal’s latest bid was rejected because it was ‘timid’ and did not reflect the midfielder’s quality. More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalThe Gunners have had two bids turned down for the player, with the latest believed to be in the region of £32million. Lyon were seeking around £55m for the Frenchman at the start of the transfer window but the Ligue 1 club are said to have lowered that asking price and would accept closer to £46m. Asked about the nature of Arsenal’s bid and why it was rejected, Aulas said: ‘There was a timid offer. We felt like either they didn’t consider the fact that this is a player in the French national team. ‘So it was not an offer that was even susceptible to making us consider a sale.’MORE: Thomas Partey or Houssem Aouar? Arsenal legend Nigel Winterburn makes his choiceMORE: Manchester United respond to rumours they are signing Arsenal star Ainsley Maitland-NilesFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Advertisement Commentlast_img read more

Aegon UK, family business plans add £153m to 2019 bulk annuity activity

first_imgThe Aegon UK Staff Retirement and Death Benefit Scheme has completed its first buy-in, a £144m (€168m) deal with Phoenix Group.The insurance policy covers around a quarter of the uninsured pensioner liabilities, according to a statement.Maurice Brunet, chair of the trustees, said: “This is a key milestone for the scheme being the first buy-in as part of our long-term derisking strategy.“It helps to improve long-term security for all of our members by reducing the scheme’s exposure to future investment and longevity risks.” The trustees were advised by Hymans Robertson and Burness Paull. The transaction takes Phoenix’s year-to-date bulk annuity volumes to nearly £2bn.Separately, the Carter & Parker Limited Staff Retirement Benefits Plan (1975) has struck a £9.3m deal bulk annuity deal with Canada Life, which made the winning bid in an auction process.The pension plan is for the employees of family business Thomas B Ramsden and Co, which is more than 120 years old.K3 Advisory, a specialist independent bulk annuity and consolidator advisory business for the UK pension market, provided advice for what it said was its first bulk annuity transaction with client H&C Consulting Actuaries.Austen Ramsden, managing director of Thomas B Ramsden, said: “The specialist knowledge that K3 was able to provide, alongside the clear direction and diligence from H&C, has allowed us to secure pensioner members’ benefits below the level at which we were funding those liabilities, which I consider to be a real result.”Adam Davis, managing director at K3 Advisory, said: “Historically, small schemes have not had access to the same resources, and therefore solutions, as their larger counterparts making their situations much more challenging.”“This transaction demonstrates the best of what K3 is about, helping a small defined benefit pension scheme to not only access the bulk annuity market, but to drive excellent pricing akin to the level big schemes achieve without compromising on best member outcomes.”2019 has been a record-breaking year for bulk annuity deals in the UK pension market pension liabilities, with some expecting £40bn worth of defined benefit liabilities to end up being insured.last_img read more

Ghana captain Mensah dedicates Congo win to bereaved Adiyiah

first_imgGhana captain John Mensah has dedicated Sunday’s victory to striker Dominic Adiyiah whose father was buried a day before the match.The Partizan Belgrade’s gave his late father a befitting farewell by scoring the second goal for the Black Stars in the 3-0 win.His commitment and assertiveness was awesome and won the admiration of John Mensah who dedicated the hard fought victory to the bereaved forward.“It was a hard game but we thank God for the victory. The most important thing is we stay together and play as a team and at the end we get victory,” Mensah said.“We thank all Ghanaians for their support but the most important I have to say is our condolences to Dominic Adiyiah for his late father.“We all pray for him and we are behind him all the time,” Mensah said in a post-match. Ghana are joint top of Group I with Sudan who defeated Swaziland 3-0 in Sunday night’s game.Source: Ghanasoccernetlast_img read more

Parupalli Kashyap victorious over Jorgensen in Korea Open quarterfinals!

first_imgAdvertisement bqqfNBA Finals | Brooklyn Vsmv0iWingsuit rodeo📽Sindre Eb377ex( IG: @_aubreyfisher @imraino ) 71x61Would you ever consider trying this?😱m4vCan your students do this? 🌚3tvRoller skating! Powered by Firework Parupalli Kashyap was victorious over Jorgensen in Korea Open quarter finals by a margin of 24-22; 21-8 on Thursday. Now he will face the World no 1 Kento Momota in the semifinal of the tournament.Advertisement The match between Parupalli Kashyap and Jorgensen was highly interesting in the first set. At the beginning of the match, Jorgensen took a lead of 3 points. At one point of time, Jorgensen was leading by a margin of 11-8. However, Parupalli Kashyap came back into the match brilliantly and made the scoreline 12-12. The set was well in balance. However, Kashyap took the set with keeping his nerves stronger than his opponent at the end. The first set ended with a scoreline of 24-22 in favour of Kashyap.Advertisement In the second set, Jorgensen was not able to give the same fight. Maybe he was very upset after the narrow defeat in the first set. On the other hand, Kashyap came into the second set with more confidence. He destroyed his opponent Jorgensen in the second set of the match by a margin of 21-8. Kashyap is the last hope left for India in this tournament and he will certainly wish to put up a great performance in the semifinal against World number one.US Open 2019: Sumit Nagal puts up a commendable performance against Roger FedererAdvertisement Advertisementlast_img read more