fskchydde

Fannie Mae Expects Modest Economic Growth in 2015

first_imgHome / Daily Dose / Fannie Mae Expects Modest Economic Growth in 2015 November 20, 2014 975 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago 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.  Print This Post Despite slower economic growth in recent months following a strong showing in mid-2014, Fannie Mae’s Economic and Strategic Research Group said in a report released Thursday that it still expects 2015 to be a slightly better year overall economically in the U.S.The group’s current forecast was based on continued improvements in employment, income, and consumer and business spending. The group predicted that economic growth will come in at 2.5 percent for 2015, which is a slight improvement over the 2.1 percent predicted for 2o14.”The pace of growth around the middle of the year was well above trend, driven by an unsustainable rebound after a weak first quarter, and we anticipate that the fourth-quarter numbers will presage a more modest pace for 2015,” Fannie Mae chief economist Doug Duncan said. “We are still seeing some conservatism on the part of consumers, who remain hesitant to take on significant credit and mortgage debt in the wake of the economic downturn. However, recent data show that their confidence is growing amid strengthening employment numbers and household incomes, which we expect to continue next year and eventually drive stronger consumption.”Duncan said the housing market “continues to grind its way upward” and that due to muted fundamentals, he does not expect the market to have a breakout performance in 2015. Duncan predicted the state of the housing market and mortgage industry in 2015 will be similar to that of 2014 based on Fannie Mae’s current view of home sales, housing starts, and price trends, which is largely unchanged from the research group’s previous forecast.”Homebuilding activity improved during the third quarter due primarily to the multifamily segment, which we expect to grow further next year, but the single-family segment has been relatively flat for some time,” Duncan said. “Although interest rates still are relatively low, the temporary burst in refinance activity appears to have subsided, and we expect that the market will turn more toward the purchase market in 2015.” About Author: Brian Honea Fannie Mae Expects Modest Economic Growth in 2015 Previous: GSEs Announce Updates to Loan Repurchase Guidelines for Lenders Next: Five Star President: ‘Embedded Risks’ May Be Hindering Mortgage Market Recovery Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Housing Market U.S. Economy 2014-11-20 Brian Honea in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago 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 The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Subscribe Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Fannie Mae Housing Market U.S. Economy Share Save Sign up for DS News Daily last_img read more

ljuhdempf

Home Flipping Drops to Five-Year Low in Q3

first_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Home Flipping Investors RealtyTrac Sign up for DS News Daily Home Flipping Investors RealtyTrac 2014-11-19 Brian Honea  Print This Post Demand Propels Home Prices Upward 2 days ago Share Save Home flipping sales declined nationwide both quarter-over-quarter and year-over-year, hitting their lowest level since the second quarter of 2009, according to RealtyTrac’s Q3 2014 U.S. Home Flipping Report released today.The number of home flipping sales, or those in which a home is purchased and sold within 12 months, represented 4 percent of all single-family home sales in the U.S. in the third quarter, down from 4.6 percent from Q2 2014 and from 5.6 percent in the third quarter of 2013, according to RealtyTrac.The average gross return on investment for flipped homes in Q3 was 36 percent, a slight increase from 35 percent in Q2 but a slight decline from 37 percent from the same quarter last year, according to RealtyTrac. The average gross profit per home flipped for investors was $75,990 in the third quarter, RealtyTrac reported.”Flipping returned to its historic norm of 4 percent in the third quarter as home price appreciation cooled in many of the hot flipping markets across the country,” said Daren Blomquist, VP of RealtyTrac. “Meanwhile, the record-high average profits per flip in the quarter demonstrate that flippers are still filling an important niche in an aging housing market with historically low levels of new homes being built. The most successful flippers are buying older, outdated homes in established neighborhoods and rehabbing them extensively to appeal to modern tastes.”The top five metropolitan areas with the most home flips were Miami (1,190), Phoenix (1,147), New York (1,070), and Tampa (789) with Tampa being the only one of those five that saw a year-over-year increase in home flips in Q3, according to RealtyTrac. The top five metros that saw the highest year-over-year increase in home flips were Louisville, Kentucky (117 percent), Kansas City (66 percent), Boston (40 percent), New Orleans (38 percent), and Indianapolis (35 percent).Metro areas with the highest return on investment for home flips in Q3 were Baltimore (88 percent), Pittsburgh (79 percent), Detroit (61 percent), Richmond, Virginia (60 percent, and Mobile, Alabama (59 percent), according to RealtyTrac. San Francisco, San Jose, Los Angeles, New York, Seattle, and San Diego posted the highest average gross profit among metros per home flip, all with more than $125,000 per home flip.”The markets with an increase in flipping tend to be those with older, distressed inventory still available that flippers can often buy at a discount and add value to,” Blomquist said. “Those discounted distressed properties have become harder to find, but a recent jump in scheduled foreclosure auctions could provide more fodder for flippers in the next three to six months.”The national average amount of time it took to complete a home flip in the third quarter was 185 days, a slight decrease from 187 days in Q2 but an increase from 133 days from the third quarter of 2013, RealtyTrac reported. Home Flipping Drops to Five-Year Low in Q3 Home / Daily Dose / Home Flipping Drops to Five-Year Low in Q3 About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: DS News Webcast: Thursday 11/20/2014 Next: FHFA Director Outlines GSEs’ Strategic Objectives Before Senate Banking Committeecenter_img The Best Markets For Residential Property Investors 2 days ago November 19, 2014 1,088 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago 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 Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

ehddnpebw

U.S. Senator Calls for More Transparency from DOJ, Treasury Regarding GSE Profits

first_img Chuck Grassley Department of Justice Department of Treasury Fannie Mae Freddie Mac GSE Profits 2015-04-08 Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago U.S. Senator Calls for More Transparency from DOJ, Treasury Regarding GSE Profits in Daily Dose, Featured, Government, News  Print This Post Sign up for DS News Daily Related Articles Home / Daily Dose / U.S. Senator Calls for More Transparency from DOJ, Treasury Regarding GSE Profits Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe April 8, 2015 1,399 Views Share Save 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. center_img Previous: Monitor Continues to Investigate Ocwen Over Compliance With Settlement Terms Next: Rate Hike Debate Continues in Federal Open Market Committee Tagged with: Chuck Grassley Department of Justice Department of Treasury Fannie Mae Freddie Mac GSE Profits 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 Demand Propels Home Prices Upward 2 days ago U.S. Senator Chuck Grassley (R-Iowa), Chairman of the Senate Judiciary Committee, has written separate letters to U.S. Attorney General Eric Holder and U.S. Department of Treasury Secretary Jack Lew seeking more transparency from the government regarding GSE profits.According to an announcement on Grassley’s website, the Senator’s letters were based on a report that originally appeared in the New York Times regarding an alleged lack of transparency and claims of the assertion of executive privilege by the government. These claims were made in relation to Treasury’s amending of Fannie Mae’s and Freddie Mac’s bailout agreement with the government in 2012. The two GSEs received a combined $188 billion in bailout money in 2008 when they were taken into conservatorship by the Federal Housing Finance Agency (FHFA); in 2012, the GSEs returned to profitability but since then all of their profits have been swept into Treasury, a practice that investors say is unconstitutional and shortchanges taxpayers.Grassley wrote in his letters that it is unclear whether the President asserted executive privilege to withhold documents regarding the sweeping of GSE profits into Treasury and questions whether the Justice Department was authorized to withhold the documents. The news reports that prompted Grassley’s letters assert that the documents that were withheld are public by definition.”The taxpayer has a right to know what has transpired,” Grassley wrote in separate letters to Holder and Lew. “But, instead of transparency, there appears to be an invocation of executive privilege. If true, this is cause for concern.”In Grassley’s letters, the Senator asks a series of questions surrounding the assertion of executive privilege and details regarding the Treasury’s agreement, and whether or not the sweeping of GSE profits is in compliance with statutory requirements under the FHFA’s conservatorship of Fannie Mae and Freddie Mac.  Copies of Grassley’s letters can be viewed here and here.Rafferty Capital analyst Dick Bove called Grassley’s sending of the letters “gargantuan” news.”This is the right guy asking the right questions at the right time,” Bove said in a statement. “He is doing it because the Administration may have overplayed its hand in dealing with Fannie Mae. The Administration is taking all of the capital out of the company and intends that by 2018 it will have no capital at all. At the same time, the Administration and its dupe the Wall Street Journal are claiming that Fannie Mae will need another taxpayer bailout.”The sweeping of GSE profits into Treasury has prompted several lawsuits by investors, notably two by Pershing Square (one of which was voluntarily withdrawn by Pershing CEO Bill Ackman) and one by Fairholme Funds, which is still pending. Grassley is making it clear, however, that his calls for more transparency should not be construed as support of the investors’ lawsuits.”Senator Grassley isn’t taking a position on who’s entitled to what shares or appropriate levels of return,” a Grassley spokeswoman told DS News. “He’s simply asking why the Administration reportedly is citing executive privilege to withhold documents on major government decisions.  He says the public’s business ought to be public with few exceptions.” Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

oyiobuasc

Democratic Senators Call For Investigation of Possible Discrimination in REO Maintenance

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Democratic Senators Call For Investigation of Possible Discrimination in REO Maintenance Share Save Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Foreclosures REO properties Senate Banking Committee Senator Bob Menendez 2015-06-25 Brian Honea A group of Democratic Senators led by Bob Menendez (D- New Jersey) has written a letter to the leaders of several government agencies calling for an investigation to determine if banks and lenders violated the Fair Housing Act by neglecting maintenance of foreclosed and REO homes in minority-dominated neighborhoods.The Senators cited a recent report by the National Fair Housing Alliance (NFHA) which alleged that REO properties in minority-dominated neighborhoods were more than twice as likely to have deficiencies such significant amounts of trash and debris, and unsecured, broken, or damaged doors than REO properties in predominantly white neighborhoods. The report covered more than 2,400 REO properties in 29 metro areas, owned or managed by 11 lenders.”We strongly urge you—as regulators of the entities responsible for ensuring these properties are maintained, marketed, and sold to qualified buyers—to investigate this issue,” the Senators wrote in their letter. “As we are sure you agree, stabilization for our country’s communities most impacted by the foreclosure crisis will require financial institutions to properly maintain and market REO homes regardless of the color of the skin or nation of origin of the other homeowners who live on the block.”Several organizations have come out in support of the Senators’ letter, including (alphabetically) the American Civil Liberties Union, Americans for Financial Reform, Center for Responsible Lending, Lawyers’ Committee for Civil Rights Under Law, Leadership Conference on Civil and Human Rights, National Association for the Advancement of Colored People, National Coalition for Asian Pacific American Community Development, National Council of La Raza, National Fair Housing Alliance, National Low Income Housing Coalition, PolicyLink, and Poverty and Race Research Action Council, according to Menendez’s website.”Foreclosed properties remain in neighborhoods across the country, but we must do all that we can to make sure they are equally well-taken care of to get them in the hands of homeowners,” said Shanna L. Smith, President and CEO of the National Fair Housing Alliance. “We know that poorly maintained properties have a higher likelihood of selling to absentee investors, deflate neighborhood property values and contribute to negative health outcomes for residents who live near these eyesores. The federal financial and housing regulators have an opportunity and obligation to ensure that foreclosed homes are used as agents of community stabilization, not to further depress property values and the local tax base.”Click here to view a copy of the Senators’ letter. Co-signers of the letter were Sherrod Brown (D-Ohio), Elizabeth Warren (D-Massachusetts), Barbara Boxer (D-California), Kirsten Gillibrand (D-New York), Mazie Hirono (D-Hawaii), Cory Booker (D-New Jersey), Martin Heinrich (D-New Mexico), Ben Cardin (D-Maryland), Tammy Baldwin (D-Wisconsin), Dick Durbin (D-Illinois), Richard Blumenthal (D-Connecticut), Chuck Schumer (D-New York), and Tim Kaine (D-Virginia).  Mendendez, Brown, Warren, and Schumer are members of the Senate Banking Committee, and Menendez is the Ranking Member of the Senate Subcommittee on Housing, Transportation, and Community Development.The letter was addressed to HUD Secretary Julián Castro, Fed Chair Janet Yellen, Comptroller of the Currency Thomas Curry, FDIC Chair Martin Gruenberg, CFPB Director Richard Cordray, NCUA Chair Debbie Matz, and FHFA Director Melvin Watt. Home / Daily Dose / Democratic Senators Call For Investigation of Possible Discrimination in REO Maintenance Previous: U.S. Supreme Court Rules Disparate Impact Claims Are Allowed Under Fair Housing Act Next: CFPB Publishes Nearly 8,000 Consumer Complaint Narratives For the First Time About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, REO June 25, 2015 1,360 Views center_img The Best Markets For Residential Property Investors 2 days ago Subscribe Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Foreclosures REO properties Senate Banking Committee Senator Bob Menendez Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. Demand Propels Home Prices Upward 2 days agolast_img read more

dztamvbes

Does Credit Score Matter? Not to a Lot of Baby Boomers

first_img  Print This Post Previous: Mortgage Delinquencies Experience Atypical January Spike Next: FHFA Targets Hardest Hit Markets with Neighborhood Stabilization Efforts Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Baby Boomers Credit Scores 2016-03-07 Brian Honea About Author: Brian Honea in Featured, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img A recent survey conducted of 1,037 non-retired consumers ages 51 to 70, i.e. the “baby boomer” generation, found that almost half of them believe that their credit score does not matter as much after age 70, according to TransUnion.“Despite the misperception that credit loses importance later in life, the fact remains that your credit score is a vital financial tool at every age,” said Ken Chaplin, SVP for TransUnion.About 70 percent of respondents indicated that they believe a healthy credit score is necessary for refinancing a mortgage, but only 61 percent said they believe a healthy credit score is necessary to co-sign a loan for a child or grandchild. Only 32 percent of boomers surveyed said they thought they needed a strong credit score to enter a long-term care facility.“Baby boomers need to prepare their credit score for retirement so they have the tools to fund financial obligations later in life,” Chaplin said. “As Americans age, good credit can not only help them finance medical expenses and long-term care, but also help them support children, grandchildren and other family members as they take on middle-life expenses, like buying a house or paying for school.”“Despite the misperception that credit loses importance later in life, the fact remains that your credit score is a vital financial tool at every age.”TransUnionRetirees can stay credit-active by using credit cards regularly and paying them in full at the end of the month.“Most retirees are past the point of making major purchases such as a new house or car,” said Chaplin. “But that doesn’t mean you should stop using your credit cards.”Baby boomers may not be the only demographic that doesn’t think having a good credit score is important. A report last May from the Consumer Financial Protection Bureau indicated that 26 million American adults (about 10 percent) do not have a credit history with any of the three nationwide consumer reporting agencies, termed as “credit invisible” by CFPB director Richard Cordray.“A limited credit history can create real barriers for consumers looking to access the credit that is often so essential to meaningful opportunity—to get an education, start a business, or buy a house,” Cordray said. “Further, some of the most economically vulnerable consumers are more likely to be credit invisible.” The Best Markets For Residential Property Investors 2 days ago Subscribe Tagged with: Baby Boomers Credit Scores 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. March 7, 2016 1,343 Views Does Credit Score Matter? Not to a Lot of Baby Boomers Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / Does Credit Score Matter? Not to a Lot of Baby Boomers Sign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days agolast_img read more

hkcbngxoa

FHFA Evaluates Future Goals

first_img Tagged with: Fannie Mae FHFA Freddie Mac  Print This Post About Author: Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago June 29, 2017 1,201 Views Thursday, the Federal Housing and Finance Agency proposed its 2018-2020 housing goals for Fannie Mae and Freddie Mac. The FHFA is proposing a rule to establish new Single-Family Housing Goals and new Multifamily Housing Goals giving opportunity to comment. The rule would make a number of clarifying and conforming changes, according to the FHFA, “including revisions to the requirements for the housing plan that an Enterprise may be required to also submit in response to a failure to achieve one or more of the housing goals.”The proposed benchmark levels for low-income, very low-income home, and low-income refinance goal will remain unchanged from the 2015-2017 time frame at 24 percent, 6 percent, and 21 percent respectively. Low-income areas home purchase subgoal is proposed at a 1 percent increase from the current benchmark level of 14 percent.To meet a single-family housing goal or subgoal, the Enterprise that meets the percentage of mortgage purchases goal or subgoal must exceed either benchmark set by the FHFA or the market level for that particular year. This level is decided retrospectively each year based on the goal-qualifying share of the overall market as measured by FHFA based on the Home Mortgage Disclosure Act (HMDA) data for that year.The proposed multifamily goal for low-income will increase 15,000 from the current level of 300,000 while the very low-income goal of 60,000 will remain unchanged. Though the low-income small multifamily subgoal has increased by 2,000 each year since 2015, this year it will remain the same as the current level at 10,000 units.An Enterprise must purchase mortgages on multifamily properties, which are properties with five or more units, with rental units affordable to families in each category, as well as a subgoal for properties with 5-50 units to meet the multifamily housing goal or subgoal.Though the Enterprises are still under conservatorship, they still have to support a stable and liquid national market for residential mortgage financing. The FHFA said they have continued to establish annual housing goals for the Enterprises and continued assessing their performance under the housing goals each year during conservatorship.The FHFA is accepting written comments on the proposed rule within 60 days of publication in the Federal Register. For more information on commenting, click here. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago FHFA Evaluates Future Goals Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News 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] Sign up for DS News Daily Home / Daily Dose / FHFA Evaluates Future Goalscenter_img Previous: Is Subprime About to Make a Comeback? Next: Top 5 Cities With Greatest Home Purchase Power Share Save Fannie Mae FHFA Freddie Mac 2017-06-29 Brianna Gilpin Subscribe Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

vpgfgctgs

Judge Denies Motion to Transfer in Lehman Indemnity Suit

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Judge Denies Motion to Transfer in Lehman Indemnity Suit Subscribe October 4, 2018 2,163 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago court Fannie Mae Freddie Mac Lehman Brothers loans mortgage RMBS sellers 2018-10-04 Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago This week around 100 mortgage lenders who had filed a motion to transfer the case with Lehman Brothers Holdings Inc. (LBHI) to a district court, were denied their application by Judge Shelley C. Chapman, who ruled that LBHI could continue to pursue its indemnity claims against these companies in the New York Bankruptcy court. Dismissing the motion filed by the mortgage sellers to transfer their case to a district court, Chapman ruled that the interest of justice, “which favors centralizing litigation in one forum to  (i) avoid duplicative litigation; (ii) save time and expense; and (iii) efficiently administer adversary proceedings based on similar claims weighs heavily here in favor of retaining venue of all of the Adversary Proceedings in this Court.”“It bears emphasis that multiple federal courts across the country, when confronted with litigation related to the Indemnification Claims, have agreed that this Court is the most appropriate forum to hear these Adversary Proceedings, given its extensive experience with Lehman matters and with the Indemnification Claims in particular,” Chapman said.The claim filed by LBHI relates to its allegations that these mortgage sellers sold or submitted defective mortgage loans into LBHI’s loan sale and securitization channels. LBHI claims that it has the right to a third-party indemnification claim against them for its liability to Fannie Mae and Freddie Mac. The company had settled with the GSEs in 2014“Specifically, the Complaints allege that it was Defendants’ breaches of the representations, warranties, and/or covenants under the Agreements that caused LBHI to have to compensate the GSEs pursuant to agreements between LBHI and the GSEs that contained representations, warranties, and/or covenants co-extensive with those contained in the Agreements,” Chapman wrote in her 115-page opinion on the matter.Giving a background of the case Chapman said that pursuant to LBHI’s agreement to settle with Fannie Mae and Freddie Mac in 2014, the Plan Administrator for LBHI’s bankruptcy case had identified over 11,000 loans and over 3,000 potential counterparties against which LBHI “allegedly held third-party contractual claims for indemnification and/or reimbursement by virtue of the GSE settlements.”To manage this volume of claims, the court had authorized the Plan Administrator to implement a pre-litigation mediation protocol with the sellers from which it sought indemnification. “To further facilitate its pursuit of recoveries from those Sellers with whom mediation was unsuccessful, the Plan Administrator initiated adversary proceedings in this Court, including those at issue here, against more than one hundred Sellers (including the Defendants) in tandem with six previously-filed adversary actions,” Chapman wrote.Read more about Chapman’s opinion on the LBHI RMBS Suit:Bankruptcy Judge Backs Lehman Brothers in RMBS Suit Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Ocwen Completes Acquisition of PHH Next: How AI Could Impact the Industry  Print This Post Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. center_img Judge Denies Motion to Transfer in Lehman Indemnity Suit Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, News Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: court Fannie Mae Freddie Mac Lehman Brothers loans mortgage RMBS sellerslast_img read more

fskchydde

EU seeks clarification over US spying claims

first_img Guidelines for reopening of hospitality sector published Previous articleDonegal Senior Championship ReviewNext articleLatest Anglo tapes released News Highland By News Highland – July 1, 2013 Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week RELATED ARTICLESMORE FROM AUTHOR Facebook EU seeks clarification over US spying claims Google+ News WhatsApp Pinterestcenter_img Calls for maternity restrictions to be lifted at LUH Pinterest Twitter Twitter Three factors driving Donegal housing market – Robinson WhatsApp EU officials are seeking clarification from the US in relation to the latest allegations from whistleblower Edward Snowden.The former US intelligence analyst claims that the US has bugged and gained access to network computers at EU offices in Brussels and in Washington.European officials are warning that relations between the pair could change if the allegations are found to be true.Duncan Bullivant, CEO of Henderson Risk Limited, says spying and espionage has always been a part of diplomatic processes.”When it comes to negotiations, when it comes to understanding where your allies may stand on certain positions it’s always useful to know what is being said behind the scenes, what their opinions are, off the record. What thier diplomatic communications, or thier non-diplomatic communications, are actually saying, and how that compares with the public position they’ve taken” he said. LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

kiatcnbid

Thousands of homes without power in Donegal as high winds batter the Northwest

first_img Thousands of homes are without power in Donegal this evening as high winds batter the Northwest.Over five thousand homes are currently without power in the county, with more outages inevitable as the bad weather continues throughout the night.There are currently 5750 homes without power in the county. ESB have restored a number of outages, as at one stage there were almost 10,000 homes in Donegal without electricity earlier tonight.ESB hopes to have the remaining outages restored by early tomorrow afternoon.Below is a table of power outages across the county according to the ESB:Convoy – 29Gortlee – 108Creeselough – 3742Gweedore – 1367Dungloe/Arranmore -504 Facebook By News Highland – December 18, 2013 WhatsApp RELATED ARTICLESMORE FROM AUTHOR Pinterest Twitter Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey News Google+ Need for issues with Mica redress scheme to be addressed raised in Seanad also Pinterestcenter_img Guidelines for reopening of hospitality sector published Facebook Twitter Previous articleDurkan publishes report into Campsie illegal dumpingNext articleMcGuinness names McKenna Cup squad News Highland Calls for maternity restrictions to be lifted at LUH Almost 10,000 appointments cancelled in Saolta Hospital Group this week LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Thousands of homes without power in Donegal as high winds batter the Northwest WhatsApplast_img read more

ehddnpebw

Donegal SW by-election ruling due November 5

first_img Facebook Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Calls for maternity restrictions to be lifted at LUH Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey The High Court will rule next month whether the Government has excessively delayed calling a by-election in Donegal South West.The action was brought by Sinn Fein Senator Pearse Doherty.Following the conclusion of legal submissions, Mr Justice Kearns said he would give judgment on November 5.Senator Pearse Doherty says he’s done everything in his power and he says he’s made the best possible argument he could.[podcast]http://www.highlandradio.com/wp-content/uploads/2010/10/pearse1.mp3[/podcast] Twitter Previous articleTrial begins of 27-year-old man charged with dangerous driving causing three deathsNext articleDetails emerge of another VRT stand off in Inishowen News Highland Newsx Adverts Donegal SW by-election ruling due November 5 RELATED ARTICLESMORE FROM AUTHORcenter_img Guidelines for reopening of hospitality sector published Google+ Facebook WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week Pinterest WhatsApp By News Highland – October 20, 2010 Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+last_img read more