Fed: Taper Continues; Adjust Economic Projections

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Previous: Investment Fraud Scheme Nets 27 Months in Prison Next: RealtyTrac: Natural Disaster Risk ‘Very High’ for 10.6M Housing Units Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Fed: Taper Continues; Adjust Economic Projections Federal Reserve FOMC Janet Yellen Mortgage-Backed Securities 2014-06-18 Tory Barringer Tagged with: Federal Reserve FOMC Janet Yellen Mortgage-Backed Securities June 18, 2014 992 Views The Federal Open Market Committee (FOMC) concluded its June meeting with the announcement that members have once again voted to bring down the Federal Reserve’s stimulative monthly asset purchases.Taking a cue from improvements in labor market indicators, household spending, and general economic activity, the committee members voted to reduce the Fed’s monthly purchase of agency mortgage-backed securities (MBS) to a pace of $15 billion per month, while purchases of longer-term Treasury securities will be cut to $20 billion per month.Together, the cuts represent a scaling back of $10 billion in monthly additions, keeping with the committee’s pace so far. If the current course continues, the so-called “taper” could conclude by fall.However, as usual, the FOMC made a point that “asset purchases are not on a preset course, and … will remain contingent on the Committee’s outlook for the labor market and inflation as well as its assessment of the likely efficacy and costs of such purchases.”Despite seeing overall improvement in the economy, board members did readjust their economic projections in light of recent news of a downturn in the first quarter.For 2014, the committee now projects a 2.1–2.3 percent change in real gross domestic product (GDP), a sharp drop from March’s projection of 2.8–3.0 percent growth.On the other hand, labor forecasts were more favorable. By the end of the year, the committee—perhaps encouraged by recently improved jobs numbers—expects the unemployment rate to be as low as 6.0 percent.In a press conference following the release of the committee’s statement, Fed Chair Janet Yellen explained the revision comes as a result of better than expected payrolls, which have averaged 234,000 over the last three months.Yellen also addressed the role that the regulatory environment has played in this year’s slowdown in the housing market, admitting that banks have grown increasingly reluctant to lend to borrowers with lower credit scores.”They mention in meetings with us consistently their concerns about putback risk, and I think it is difficult for any homeowner who doesn’t have pristine credit these days to get a mortgage,” she said, adding that regulators now need to work to clarify mortgage lending rules “to create an environment of greater certainty for lenders to be willing to extend mortgage credit.”Markets responded largely positive to the announcement and to Yellen’s conference. As of 2:30 Central, the S&P 500 was up 0.6 percent for the day and was on pace for a record closing. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save in Daily Dose, Featured, Government, Headlines, News Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Fed: Taper Continues; Adjust Economic Projections Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Mortgage Diversity Group Elects New Advisory Council for 2018

first_img The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Mortgage Diversity Group Elects New Advisory Council for 2018 in Daily Dose, Featured, News, Servicing Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Related Articles 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Advisory Council AMDC Business Council Diversity Inclusion industry Lenders LGBT mortgage Servicers Demand Propels Home Prices Upward 2 days agocenter_img Advisory Council AMDC Business Council Diversity Inclusion industry Lenders LGBT mortgage Servicers 2018-05-16 Radhika Ojha Share Save The American Mortgage Diversity Council (AMDC) announced results of its first advisory council election during the AMDC Member Meeting on May 2, 2018. The AMDC advisory council consists of some of the top names in the industry who guide members of the organization to focus on the group’s core mission of creating a diverse and inclusive mortgage industry for all. “The AMDC exists to facilitate action that promotes positive change on diversity and inclusion within the residential mortgage industry,” said Ed Delgado, President, and CEO of the Five Star Institute. “These elected leaders are emblematic of the passion and energy for the adoption of inclusive practices, that is embodied throughout the membership. I look forward to serving alongside this distinguished group.”The following members were elected to the advisory council:Ray Barbone, EVP, Bank Operations, BankUnitedTamara Haskins, FVP, Diversity & Inclusion, PennyMacLola Oyewola, Director, Human Resources, Ocwen Financial CorporationDoris Raimundi, SVP, Mortgage Servicing, Head of Quality Control, U.S. BankStephanie Roemer, Director, Office of Diversity & Inclusion, Freddie MacMichael Ruiz, Director of Supplier Diversity, Fannie MaeSteve Thomas, Senior Managing Director, Mortgage Capital Markets, Federal Home Loan Bank of Chicago“I am delighted to be a part of the AMDC Council and look forward to continuing to support and advance the mission of the AMDC,” said Haskins on her appointment.Under the direction of AMDC Chair Kathy Cummings, SVP, Homeownership Solutions and Affordable Housing Programs, Bank of America, and Vice-Chair Charmaine Brown, Director, Engagement and Outreach at the Office of Minorities, Women and Inclusion at Fannie Mae, the newly elected advisory council will continue AMDC’s work of shaping the diversity agenda while advancing solutions that support a broad range of member initiatives that include supply-chain diversity, challenges faced by minorities, LGBT, and women-owned businesses. Previous: Low Credit Scores Add Up Next: What Fannie Forecasts for Housing in 2019 The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Home / Daily Dose / Mortgage Diversity Group Elects New Advisory Council for 2018 May 16, 2018 2,094 Views About Author: Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Ocwen Releases Q2 Operating Results

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Ocwen Releases Q2 Operating Results in Daily Dose, Featured, Headlines, Investment, Journal, News Share Save Previous: The Figures Behind Judicial State Foreclosures Next: The Industry Pulse: Updates on ComplianceEase, CoreLogic, and More The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Florida-based Ocwen Financial Corporation, a financial services holding company which services and originates loans through its subsidies, released its operating results for Q2 2018.The numbers reflected a GAAP loss of $29.8 million, compared to a net loss of $44 million, a $14.7 million improvement, according to Ocwen’s statement. The company generated “revenue of $253.6 million and cash flows from operating activities of $97.2 million for the three months ended June 30, 2018, and ended the quarter with $228.4 million of cash.”Despite these losses, Ocwen CEO John Britti states that Ocwen has remained focused on helping homeowners, resolving legacy regulatory and legal matters, and investing excess cash and preparing for its merger with PHH, an acquisition that was announced in February of this year.“We have made progress in all four areas,” Britti said. “Ocwen completed 10,752 modifications to help homeowners stay in their homes while providing loan investors better outcomes than foreclosure. Regarding legacy regulatory and legal matters, we believe that as a result of court rulings, settlements, and ongoing negotiations, we are continuing to make progress on this front.”Ocwen recorded pre-tax losses at $28.4 million, a $13.2 million improvement in a year-over-year analysis, with the servicing segment recording $2.1 million of pre-tax income, the Lending segment recordeding $1.4 million of pre-tax income, its reverse mortgage lending business recording $3.1 million of pre-tax income, and the forward lending recapture business suffering a $1.7 million pre-tax loss.Additionally, the Corporate segment recorded a $31.9 million pre-tax loss, which was “primarily driven by $13.4 million of corporate interest expense, $7.4 million of ongoing strategic transaction, and restructuring costs and $5.3 million of CFPB and state regulatory related legal fees and other expenses.””Our primary emphasis, however, has been on developing our plans for integration upon closing of our merger with PHH,” Britti said. “We have made solid progress towards closing the transaction, and we are currently targeting closing the acquisition in the third quarter of 2018. Our integration planning has progressed sufficiently for us to revise our annual synergy run-rate target up to $100 million over annualized Q2 2018 operating expenses for both companies combined.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Ocwen Releases Q2 Operating Results Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago 2018-07-26 Kristina Brewer Servicers Navigate the Post-Pandemic World 2 days ago About Author: Kristina Brewer July 26, 2018 985 Views last_img read more

Can’t Pay, Won’t Pay promises a month of protests against household charge

first_img Can’t Pay, Won’t Pay promises a month of protests against household charge Previous articleCouncil’s Christmas Tree recycling facilitiesNext articleGardai welcome dramatic drop in road fatalities in Donegal in 2011 News Highland 448 new cases of Covid 19 reported today Calls for maternity restrictions to be lifted at LUH By News Highland – January 4, 2012 Facebook Newsx Adverts Pinterest Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published Help sought in search for missing 27 year old in Letterkenny Google+center_img WhatsApp WhatsApp RELATED ARTICLESMORE FROM AUTHOR Google+ Facebook Pinterest Twitter The Can’t Pay, Won’t Pay campaign has organised a series of Public Meetings across the Donegal this month.With the introduction of the Household Charge on January 1st the group says it  intends to make January a month of protest.Meetings will be held in a number of towns across Donegal including Arranmore, Inver,Fintown, Buncrana, and Dungloe, Ballyshannon and Milford.The first meeting takes place in Jacksons Hotel, Ballybofey next Monday 9th January at 8pm.It emerged today that 700 people have already registered for and paid the 100 euro charge. Twitter NPHET ‘positive’ on easing restrictions – Donnelly last_img read more

Adams and Taoiseach clash over NW ambulance cutback claim

first_img WhatsApp News Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Facebook Twitter Facebook WhatsApp Calls for maternity restrictions to be lifted at LUH Google+center_img Pinterest The Government is accusing the Sinn Féin leader of scaremongering over the future of ambulance services in the North-West and West.Gerry Adams has told the Dáil that people needing dialysis and cancer treatment will not be provided ambulance transport from the 1st of July.But the Taoiseach’s insisted in the Dáil that no decision has been made.Mr Adams then read from a letter stating money for the service has run out, and urged the Taoiseach to intervene…….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/06/adamsambul.mp3[/podcast]The Taoiseach again reiterated that no decisions have been made, and said meetings are taking place to address the situation………….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/06/endaambul.mp3[/podcast] Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR Previous articleBoxing – Defeat for McLaughlin & McMonagle at EuropeansNext articleReward offered after violent, racist Letterkenny attack News Highland Adams and Taoiseach clash over NW ambulance cutback claim Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey By News Highland – June 22, 2011 Twitter Guidelines for reopening of hospitality sector published last_img read more

Mc Gowan welcomes review of the make up and function of ABP

first_img Previous articleEnglish back in form – Rio qualification confirmedNext articlePlans revealed to start scrambling club in West Donegal admin Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton A Donegal councillor is welcoming the review of An Bord Pleanala announced last evening by the Environment Minister Alan Kelly.MInister Kelly announced a review of the structure and function of the board, with a view to having a report and recommendations by the end of the year.Donegal Councillor Patrick Mc Gowan says a number of issues need to be looked at, including giving communities more time to make submissions.He says the make up of the board also needs to be examined…………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/07/mcgowabp.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApp Google+ Guidelines for reopening of hospitality sector published WhatsApp Google+ Facebook RELATED ARTICLESMORE FROM AUTHOR By admin – July 27, 2015 center_img Nine Til Noon Show – Listen back to Wednesday’s Programme Twitter Facebook Three factors driving Donegal housing market – Robinson Twitter GAA decision not sitting well with Donegal – Mick McGrath Homepage BannerNews Mc Gowan welcomes review of the make up and function of ABP Calls for maternity restrictions to be lifted at LUH Pinterestlast_img read more

Ivor Callely charged with fraud and released on bail

first_img Facebook Ivor Callely charged with fraud and released on bail By News Highland – April 19, 2013 PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Previous articleTanaiste says Government assessing reasons for rejection of Croke Park 2Next articleBurton warns banks to be fair & realistic with debt deals News Highland Google+ HSE warns of ‘widespread cancellations’ of appointments next week WhatsApp Facebook Twitter Twitter Newscenter_img Ivor Callely has been released on bail after being formally charged with fraud offences.The former Junior Minister with an address at St. Lawrence’s Road in Clontarf in Dublin is accused of making bogus claims for mobile phone expenses while a member of the Oireachtas.If convicted the former Fianna Fail TD faces a maximum jail sentence of 10 years.98FM Crime Correspondent Louise Byrne says the charges date back to the time when the 54-year-old was a member of the Oireachtas.”He’s facing charges of producing fictitious invoices to claim expenses for mobile phone handsets and accessories on dates in 2007, 2008 and in 2009″ she said.”Essentially, this was a vouched expenses system in the Houses of the Oireachtas; and Ivor Callely is accused of using bogus invoices from mobile phone companies to make claims” she added. WhatsApp Pinterest Pinterest Google+ Man arrested in Derry on suspicion of drugs and criminal property offences released Dail to vote later on extending emergency Covid powers Dail hears questions over design, funding and operation of Mica redress scheme RELATED ARTICLESMORE FROM AUTHOR Man arrested on suspicion of drugs and criminal property offences in Derrylast_img read more

MEP says islands should be treated as a single region under Leader

first_img Pinterest MEP says islands should be treated as a single region under Leader 75 positive cases of Covid confirmed in North Google+ Gardai continue to investigate Kilmacrennan fire Google+ Facebook Previous articleCrawford Square warning was inadequate – PSNINext articleInjury problems for Derry ahead of Championship admin Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp Homepage BannerNews Pinterestcenter_img Man arrested on suspicion of drugs and criminal property offences in Derry Further drop in people receiving PUP in Donegal Twitter Twitter 365 additional cases of Covid-19 in Republic RELATED ARTICLESMORE FROM AUTHOR Facebook By admin – April 29, 2015 Islands around the country should be categorised as one region in order to qualify for funding from the EU Leader programme.That’s the recommendation from the Sinn Fein MEP Liadh ni Riada.The Leader programme is supposed to tackle rural isolation and generate employment and stimulate village and town renewal in rural parts of the EU.However, recent funding cuts to the programme have hit rural regions and many people are highly critical of the government’s decision to involve local authorities in running the programme.Liadh ni Riada says change is needed………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/04/lynnleader.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApplast_img read more

Mc Hugh pledges to use Junior Ministry to promote cross border cooperation

first_img Man arrested on suspicion of drugs and criminal property offences in Derry Mc Hugh pledges to use Junior Ministry to promote cross border cooperation Junior Minister Joe Mc Hugh says he intends playing a role in enhancing cross border relations and promoting cross border projects during his tenure.Last week, MInister Mc Hugh was named as Minister of State with responsibility for the Diaspora and Overseas Development Aid. He will have responsibilities with the Departments of the Taoiseach and Foreign Affairs, and he believes that’s significant.Minister Mc Hugh says he envisages spening time in Northern Ireland representing the Foreign Affairs Minister Charlie Flanagan, and he believes Taoiseach Enda Kenny had that in mind when making the appointment…………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/05/joeni.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApp WhatsApp Facebook Main Evening News, Sport and Obituaries Tuesday May 25th Facebook Gardai continue to investigate Kilmacrennan fire 75 positive cases of Covid confirmed in North Pinterest Google+center_img RELATED ARTICLESMORE FROM AUTHOR By admin – May 23, 2016 Previous articlePringle welcomes end of JobBridge but warns a name change will not be enoughNext articleAGSI will not comment on Clarke inquiry findings until full report is published admin Google+ Further drop in people receiving PUP in Donegal Twitter 365 additional cases of Covid-19 in Republic Homepage BannerNews Pinterest Twitterlast_img read more

Donegal Food Strategy launched at Glenveagh Castle

first_img Previous articleJudge says four points is disproportionate for a few kph over the limitNext articleMan to be sentenced on rape and assault charges News Highland WhatsApp By News Highland – July 24, 2012 Twitter Donegal Food Strategy launched at Glenveagh Castle Facebook Pinterest Further drop in people receiving PUP in Donegal Man arrested on suspicion of drugs and criminal property offences in Derry Main Evening News, Sport and Obituaries Tuesday May 25th Pinterest 75 positive cases of Covid confirmed in North center_img RELATED ARTICLESMORE FROM AUTHOR WhatsApp Facebook Twitter Google+ Google+ News 365 additional cases of Covid-19 in Republic Gardai continue to investigate Kilmacrennan fire The Minister of State for Small Business has launched the Donegal Food Strategy which has the ultimate aim of promoting Donegal as a food producer and exporter on the Island of Ireland.Launched last evening at Glenveagh Caste, the stratedy sets out a road map for creating more food businesses as well as improving profitability and sustainability of existing food producers.The Donegal County Enterprise Board is behind the strategy.Speaking from its launch Junior Minister John Perry says food producers in Donegal need to work together for it to succeed….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/perram.mp3[/podcast]last_img read more