What’s Behind Fannie Mae’s Reperforming Loans Sale?

first_imgHome / Commentary / What’s Behind Fannie Mae’s Reperforming Loans Sale?  Print This Post Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Fannie Mae Reperforming Loans Bob Ives, VP of Retained Portfolio Asset Management for Fannie Mae, spoke with DS News to discuss the GSE’s recent announcement for its pilot sale of reperforming loans and the reasons behind this new category of offerings.Ives is responsible for the management of loans and securities in the Retained Portfolio and is a key member of the team that developed the Connecticut Avenue SecuritiesTM series of risk-sharing transactions. Prior to his current appointment, Ives was responsible for the trading of all structured mortgage products, including oversight of agency Real Estate Mortgage Investment Conduits, Commercial Mortgage-Backed Securities (CMBS), and municipal assets.What are the reasons behind selling this pilot offering of reperforming loans?Fannie Mae has been successful reducing its balance sheet over the last several years, post conservatorship. In particular, we are guided by the Treasury Preferred Stock Purchase Agreement which requires Fannie Mae to reduce its portfolio balance to $250 billion by the end of 2018. Subsequent to the agreement, we received additional guidance from our regulator, the Federal Housing Finance Agency (FHFA) to reduce the portfolio to 90 percent of that balance. As a result, we have been trying to reduce the assets on our balance sheet mostly through sales, and we have been a significant seller in a number of different markets.Today, the single biggest asset on our balance sheet is reperforming loans. These reperforming loans generally came from the modification of non-performing loans which were purchased first out of MBS. Successful modifications led to loans that are now performing. As we aim to reduce the balance of our retained portfolio, we turned to another important effort that allows us to securitize many of these reperforming loans in to Fannie Mae Agency MBS.The reality is that we won’t be able to securitize all the loans into agency MBS because some of these loans have unique characteristics that don’t fit into MBS execution. The most significant of these is forbearance, where the amount of principal loan isn’t forgiven. Rather the borrower does not have to pay interest on a portion of the principal, but the principal balance is due when the loan matures. We are exploring securitization options in the future for some of these loans but there are a lot of complex issues that are involved. Because of this, we decided to have a sale of reperforming loans to help us accomplish a couple of purposes.What is the ideal outcome in selling these loans?One of the purposes of this sale is it helps us in our overall goal of reducing the size of our balance sheet. In addition, it will allow us to learn more about the market for reperforming loans and the overall demand, although speaking to investors, we know that the overall demand for reperforming loans is actually fairly high.In looking toward the future, is this an offering that Fannie Mae hopes to continue?I think it is likely that we will continue to sell reperforming loans in the future but I am hesitant to describe it as programmatic selling. I expect that we will have a few sales of reperforming loans next year so this could be stated as the first of more sales to come, but they will not necessarily be as large as this sale. Previous: SouthLaw Welcomes New Associate Attorney Next: Assurant Appoints New SVP, Mortgage Solutions Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Kendall Baer What’s Behind Fannie Mae’s Reperforming Loans Sale? Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Subscribe Servicers Navigate the Post-Pandemic World 2 days ago in Commentary, Daily Dose, Featured October 13, 2016 3,019 Views Fannie Mae Reperforming Loans 2016-10-13 Kendall Baer Related Articleslast_img read more

HUD Proposes New Home Inspections Rule

first_img The U.S. Department of Housing and Urban Development (HUD) this week issued a proposed rule for the National Standards for the Physical Inspection of Real Estate (NSPIRE).According to a press release, HUD’s new approach involves extensive input from stakeholders to redesign the methods HUD uses to ensure properties are in safe, decent, and sanitary conditions.”NSPIRE brings much-needed updates to our programs and provides consistency to the families we serve. Families in HUD programs shouldn’t have to worry about the safety or healthiness of their home depending on the program that’s providing the assistance,” HUD Secretary Ben Carson said.In creating its new approach to inspections, HUD assembled a group of researchers, scientists, academics, inspectors, analysts, and HUD professionals with decades of affordable housing inspection experience.”By drawing on this experience, NSPIRE, as implemented by the new rule, will significantly enhance HUD’s ability to focus on affordable housing properties that are not meeting quality expectations,” the press release noted.The NSPIRE Rule, outlined on federalregister.gov, strengthens HUD’s affordable housing oversight, HUD notes.”This includes the ability to identify substandard housing, streamline the current array of regulations, and reduce historically complex affordable housing procedures. The improvements demonstrated by the NSPIRE rule outline how HUD effectively evaluates housing across all HUD programs.”HUD Deputy Assistant Secretary David Vargas Real Estate Assessment Center (REAC) said that “having a singular set of standards allows us to have deeper insight into those conditions that impact families and the success of housing programs through defining common patterns and themes that might otherwise go undetected.”He pointed out that small and rural housing providers, for example, face unique challenges. As part of the overall set of regulatory changes being proposed in the NSPIRE rule, HUD would implement regulatory relief for small, rural housing providers to reduce unnecessary burdens and costs.“This rule will allow them to see specific measurable changes to aid in improving effectiveness of inspections while reducing the operational burdens to manage these important processes,” said Dominique Blom, General  Deputy Assistant Secretary for Public and Indian Housing.Comments are due March 15, and interested persons are invited to submit comments to the Office of the General Counsel, Rules Docket Clerk, Department of Housing and Urban Development, 451 Seventh Street SW, Room 10276, Washington, DC 20410-0001. More details are available at federalregister.gov. in Daily Dose, Featured, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles January 20, 2021 2,087 Views Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago HUD Proposes New Home Inspections Rule Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Home / Daily Dose / HUD Proposes New Home Inspections Rule Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Previous: How Improved Relations Boost the Bottom Line Next: A Look at the Potential Foreclosure Wave of 2021 2021-01-20 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Bloody sunday report findings to be published today

first_img Help sought in search for missing 27 year old in Letterkenny News Guidelines for reopening of hospitality sector published 448 new cases of Covid 19 reported today Calls for maternity restrictions to be lifted at LUH Bloody sunday report findings to be published today Google+ Pinterest Facebook Previous articleMcLoone to respond to internal audit concernsNext articleBloody Sunday: How the events of that day unfolded News Highland Twitter WhatsAppcenter_img Google+ Twitter NPHET ‘positive’ on easing restrictions – Donnelly Facebook The findings of the longest-running and most expensive public inquiry in British legal history are being published this afternoonThe ‘Bloody Sunday’ inquiry by Lord Saville has been examining the deaths of 13 people in 1972 at a civil rights protest in DerryBritish soldiers claimed they’d come under attack.Richard Moore’s uncle was killed on Bloody Sunday – He says the report means a great deal to the people of Derry[podcast]http://www.highlandradio.com/wp-content/uploads/2010/06/08rich.mp3[/podcast]John Kelly’s 17 year old brother Michael was one of six victims gunned down at the rubble barricade on Rossville Street.He says 38 years later – it still brings back painful memories:[podcast]http://www.highlandradio.com/wp-content/uploads/2010/06/08kell.mp3[/podcast] Pinterest RELATED ARTICLESMORE FROM AUTHOR Three factors driving Donegal housing market – Robinson WhatsApp By News Highland – June 15, 2010 last_img read more

One Catholic school set to close in Derry City

first_img Calls for maternity restrictions to be lifted at LUH At least one Catholic secondary school in Derry could close under new plans set out by the Commission for Catholic Education.It is reported that either it could be St Peter’s High School or Immaculate Conception College, both of which have low numbers of pupils.All Catholic post-primary schools in the city are expected to be linked together in a new Derry City Foundation headed by one overall director. Pinterest Pinterest News Google+ By News Highland – March 24, 2010 Twitter WhatsApp Previous article105 jobs to go in Strabane with Better Deals closureNext articleNew workers group to plot industrial action News Highland One Catholic school set to close in Derry City Google+center_img Twitter WhatsApp RELATED ARTICLESMORE FROM AUTHOR NPHET ‘positive’ on easing restrictions – Donnelly Help sought in search for missing 27 year old in Letterkenny 448 new cases of Covid 19 reported today Facebook Three factors driving Donegal housing market – Robinson Facebook Guidelines for reopening of hospitality sector publishedlast_img read more

“Government’s commitment to LGH cancer services is absolute” – Mc Hugh

first_img Twitter Twitter GAA decision not sitting well with Donegal – Mick McGrath Pinterest By admin – August 21, 2015 Google+ Homepage BannerNews Junior Minister Joe Mc Hugh says the commitments in the joint ministerial statement are absolute, and he and Minister Varadkar are committed to maintaining services at Letterkenny General Hospital……..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/08/joecancerfri.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. NPHET ‘positive’ on easing restrictions – Donnelly Guidelines for reopening of hospitality sector published Google+ WhatsAppcenter_img Facebook “Government’s commitment to LGH cancer services is absolute” – Mc Hugh RELATED ARTICLESMORE FROM AUTHOR WhatsApp Previous articleMc Conalogue concerned at increase in Donegal repossession applicationsNext articleDerry City look to advance in FAI Senior Cup admin Nine Til Noon Show – Listen back to Wednesday’s Programme Three factors driving Donegal housing market – Robinson Pinterest Calls for maternity restrictions to be lifted at LUH Facebooklast_img read more

Woman charged with encouraging support for an illegal organisation

first_img NPHET ‘positive’ on easing restrictions – Donnelly Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Old Bailey bomber Marian Price is due in court in Derry this morning, charged with encouraging support for an illegal organisation.The 57-year-old veteran republican was arrested in west Belfast on Friday in connection with a parade in Derry on Easter Monday in which a masked paramilitary spoke to crowds in the city cemetery.Price, and her sister Dolours, were among those convicted of the Old Bailey bombing in 1972, which killed one person and injured 200 others. Twitter Google+ Newsx Adverts WhatsApp By News Highland – May 16, 2011 Pinterest RELATED ARTICLESMORE FROM AUTHORcenter_img Guidelines for reopening of hospitality sector published Woman charged with encouraging support for an illegal organisation Previous articleGAA – Donegal beat Antrim in ChampionshipNext articleState support for Donegal airport to continue News Highland Google+ Pinterest Facebook Twitter Calls for maternity restrictions to be lifted at LUH LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Three factors driving Donegal housing market – Robinson last_img read more

‘No amount of bullets or bullies will solve drugs problems’ Foyle MLA Eastwood

first_img WhatsApp Calls for maternity restrictions to be lifted at LUH Pinterest Twitter RELATED ARTICLESMORE FROM AUTHOR By News Highland – May 4, 2012 Twitter News LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleChildrens Minister to hold Q&A session on EU Fiscal Treaty in Letterkenny tonightNext articleFather of man shot in St Johnston says his son was shot for no reason News Highland Guidelines for reopening of hospitality sector published Pinterestcenter_img Foyle MLA Colum Eastwood, has hit out at the RAAD statement released yesterday that ‘no amount of protest’ will stop their activities.He added that any cloak of republicanism should once and for all be discarded from the organisation, saying that the true Irish republican position believed in the authority and will of the Irish people.RAAD, he said, had transparently revealed themselves as fascists, whose interest was not in addressing the problems of drug addiction, but in criminal gain.And he said RAAD should get the message that no amount of bullets or bullies could solve the drugs problem in Derry or Ireland….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/05/colm1pm.mp3[/podcast] Facebook ‘No amount of bullets or bullies will solve drugs problems’ Foyle MLA Eastwood WhatsApp Three factors driving Donegal housing market – Robinson Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Dermatology services still not restored at LGH – Mc Conalogue

first_imgHomepage BannerNews Facebook WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook Minister McConalogue says he is working to improve fishing quota Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Previous articleHolmes and Connelly step down in MayoNext articleMan dies after adverse reaction to wasp sting in Convoy admin Pinterest RELATED ARTICLESMORE FROM AUTHOR Google+ Twittercenter_img Need for issues with Mica redress scheme to be addressed raised in Seanad also WhatsApp A Donegal Deputy has accused the Government of failing to meet a commitment on dermatology services at Letterkenny General Hospital.It has been claimed that despite assurances that dermatology services would resume at the hospital at the beginning of September, this hasn’t happened and patients are still waiting for these clinics to be restored.Deputy Charlie McConalogue has been highlighting the issue, he says because of the escalating waiting lists patients are being forced to travel to Sligo for treatment.He says it’s unfair people should not have to travel for services that should be on their doorstep:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/10/charmcraw.wav00:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. By admin – October 3, 2015 LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Dermatology services still not restored at LGH – Mc Conalogue Google+ Pinterest Twitter 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Reportlast_img read more

Objections lodged to Laghey windfarm plans

first_imgNews Objections lodged to Laghey windfarm plans Facebook 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report RELATED ARTICLESMORE FROM AUTHOR Pinterest Pinterest By News Highland – June 17, 2013 Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week Twitter Man arrested in Derry on suspicion of drugs and criminal property offences releasedcenter_img Minister McConalogue says he is working to improve fishing quota Facebook Objections to the construction of a 11 turbine windfarm outside Donegal Town have been lodged with An Bord Pleanala.In November of 2012 the council granted a ten year planning development for an 11 turbine wind farm development that covers three townlands in Laghey.The turbines are 74 metres in height with a rotor diameter of 93 metres. The plans also include the construction of an electrical compound and substation.A Kevin Derring and Peter Crossan had objected to the council decision arguing that the windfarm would intrude on the scenic beauty of the area damaging tourism potential.The same two men have no raised their objections with An Bord Pleanala – a decision on if the windfarm can go ahead or not will be made before October of this year. Dail hears questions over design, funding and operation of Mica redress scheme Google+ Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ WhatsApp WhatsApp Previous article26-year-old arrested in Strabane released unconditionallyNext articleUpdate – Man who admits Eugene Maloney’s manslaughter to be sentenced in two weeks time News Highland last_img read more

Inishowen Fires – One youth charged, two still being questioned

first_img RELATED ARTICLESMORE FROM AUTHOR Dail to vote later on extending emergency Covid powers By News Highland – August 26, 2011 Pinterest Man arrested in Derry on suspicion of drugs and criminal property offences released Previous articleParents of Finn Valley College students to meet tonightNext articleBundoran fall victim named News Highland One person has been charged and two are still being questioned by gardai investigating 11 suspected arson attacks in South Inishowen since July.A 17 year old youth was charged at Buncrana Garda Station last night. He was released on bail, to appear at Buncrana District Court on the 8th of September.A second man remains in custody in Buncrana, and is still being questioned.Of the two men being detained at Letterkenny Garda Station, one man has been released pending a file to the Director of Public Prosecutions.The second remains in custody.The four were among five men aged between 17 and 24 arrested since Wednesday – One was released without charge on Wednesday night. Twitter Facebook Facebook Twitter HSE warns of ‘widespread cancellations’ of appointments next week center_img Google+ WhatsApp 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Dail hears questions over design, funding and operation of Mica redress scheme WhatsApp Google+ Pinterest Newsx Adverts Inishowen Fires – One youth charged, two still being questioned PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegallast_img read more