US vote over firms too big to fail postponed

first_img whatsapp Tags: NULL Share US BANKING regulators yesterday put off proposing how the government would use its new authority to dismantle large, collapsing financial companies, saying they need more time for industry and other regulators to weigh in.The Federal Deposit Insurance Corp (FDIC)?had tentatively planned to vote yesterday on issuing an interim final rule that would have put in place some aspects of how the agency would handle the winding down of large financial firms previously considered “too big to fail.”The so-called resolution authority was a main plank in the financial reform legislation, and is designed to avoid massive government bailouts such as the one for AIG, and destructive bankruptcies like Lehman Brothers.On a separate matter, the board approved yesterday a final rule that gives federal protection to securities backed by home loans and other consumer debt if they meet higher standards and banks retain some of the risk associated with the products.Industry officials criticised this move, saying the FDIC rule only applied to some parts of the market, creating an uneven and unfair playing field. whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comcenter_img KCS-content US vote over firms too big to fail postponed Monday 27 September 2010 8:03 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comlast_img read more

Nation Media Group Limited (NMG.ke) 2009 Annual Report

first_imgNation Media Group Limited (NMG.ke) listed on the Nairobi Securities Exchange under the Printing & Publishing sector has released it’s 2009 annual report.For more information about Nation Media Group Limited (NMG.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Nation Media Group Limited (NMG.ke) company page on AfricanFinancials.Document: Nation Media Group Limited (NMG.ke)  2009 annual report.Company ProfileNation Media Group Limited is an independent media house with operations in East and Central Africa. The company publishes and distributes a selection of printed newspapers and magazines and owns and runs radio and television broadcasting channels. Nation Media Group also produces digital media which accessible to private and public sectors in Kenya, Uganda, Rwanda and Tanzania. The company aims to create and promote content which informs, educates and entertains its target markets across different media platforms. The media group was founded in 1959 and its head office is in Nairobi, Kenya. Nation Media Group Limited is listed on the Nairobi Securities Exchangelast_img read more

CRDB Bank Plc (CRDB.tz) 2012 Presentation

first_imgCRDB Bank Plc (CRDB.tz) listed on the Dar es Salaam Stock Exchange under the Banking sector has released it’s 2012 presentation For more information about CRDB Bank Plc (CRDB.tz) reports, abridged reports, interim earnings results and earnings presentations, visit the CRDB Bank Plc (CRDB.tz) company page on AfricanFinancials.Document: CRDB Bank Plc (CRDB.tz)  2012 presentation Company ProfileCRDB Bank Plc is a wholly-owned private commercial bank in Tanzania offering a comprehensive range of retail, commercial, corporate, treasury, premier and wholesale microfinance services. The company has an extensive infrastructure of branches, ATMs and deposit and mobile terminals and uses a vast network of Fahari Huduma agents which are microfinance agents. The retail division offers financial solutions which range from current and fixed deposit accounts to home purchase and construction loans, refinancing and cash back services. The corporate division provides financial service across the board; including documentary collection, letters of credit, guarantees, structured trade finance, treasury services and foreign exchange risk management. Established in 1996, CRDP Bank Plc has three subsidiary companies; CRB Bank Plc Burundi, CRDB Microfinance and CRDB Insurance Brokers.CRDB Bank Plc is listed on the Dar es Salaam Stock Exchangelast_img read more

Firing up the coals for charity: a barbecue round up

first_imgProstate Cancer UK is encouraging men – and anyone else who fancies it ­– to get a grill on and hold their own MAN V BBQ event this summer. Alzheimer’s Research UK is asking people to get their friends and family together and hold a Sizzlin’ summer BBQ for the charity. So far, this summer has been hot, hot, hot, and what better excuse for a barbecue than to hold one for charity?Here’s a range of recent fundraising bbqs, and some of the charities encouraging supporters to hold one for them over summer months.Three charities with smoking hot ideasHelp for Heroes is encouraging people to hold a fundraising BBQ for Heroes in its support this summer, and has a range of burger ideas and other recipes on its site, including the Commando Burger, created by Veteran Alex Kroll, and the Infantry Burger, created by Veteran John Voss.  394 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis13 Firing up the coals for charity: a barbecue round up  393 total views,  1 views today 10 sizzling charity BBQ tweets Melanie May | 9 August 2018 | News About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis13 Tagged with: fundraising events Fundraising ideaslast_img read more

TV station owner shot dead in Murmansk

first_imgNews June 2, 2021 Find out more RSF_en News May 28, 2021 Find out more Receive email alerts Shvets (37) was co-owner and deputy managing director of the station TV-21, which he helped to found in 1990 as the region’s first independent station. Station owners Prof-Media considered him the key to the station’s success in becoming one of the most popular in the region.It had recently broadcast criticism of the Murmansk city government and of candidates in next year’s city elections. TV-21 journalists said they had been verbally threatened by mayoral candidate Andrei Gorshkov, who warned he would sue if they put out an interview he had not liked. The local journalists’ union had announced threat on 14 March and the general prosecutor took up the matter.Shvets, a prominent businessman who owned shops and a night-club in Murmansk, was also political adviser to regional governor Yuri Evdokimov. “We welcome opening of criminal investigation in Lithuania in response to our complaint against Lukashenko” RSF says Reporters Without Borders called today for an immediate hunt for the killer of Murmansk TV station owner Dmitri Shvets, who was shot dead on 18 April as he got out of a car in front of the station’s offices in the northwestern Russian city.It noted that at least three Russian journalists were murdered last year apparently because of their reporting and political views, yet their killers had not been found. It called for Shvets’ journalistic work to be taken into account in a serious enquiry and for those responsible to be tried and punished. The assailant got away after firing three shots but left the gun behind. Police said they would investigate. News Russian media boss drops the pretence and defends Belarus crackdown Follow the news on Belarus News April 21, 2003 – Updated on January 20, 2016 TV station owner shot dead in Murmansk BelarusEurope – Central Asia Organisation RSF at the Belarusian border: “The terrorist is the one who jails journalists and intimidates the public” to go further BelarusEurope – Central Asia Help by sharing this information May 27, 2021 Find out morelast_img read more

Journalists and media ensnared in political polarization

first_img July 22, 2013 – Updated on January 20, 2016 Journalists and media ensnared in political polarization News RSF_en Receive email alerts Reporters Without Borders condemns continuing abusive treatment and acts of violence against journalists during the past week.Mohamed Bader, a photographer, has been held since 15 July, when he was arrested in Cairo’s Ramses Square while covering clashes between police and former President Mohamed Morsi’s supporters in which seven people were killed and at least 260 were injured. He was one of more than 400 people arrested in connection with the 15 July clashes.After Bader was charged on 18 July with possessing a firearm, endangering national security and insulting the police, the prosecutor-general’s office ordered him held for another two weeks.Reporters Without Borders condemns the arbitrary nature of his detention and calls for his immediate and unconditional release and the withdrawal of all the charges against him.Reporters Without Borders also condemns the violence against journalists by pro-Morsi demonstrators, who threw stones at Sky News and ONTV crews in Ramses Square and beat them with sticks.There was more violence against journalists at pro-Morsi demonstrations during the past weekend.A demonstrator hit Mena Alaa, a journalist with Al-Masry Al-Youm TV, in the face and took her camera as she was filming an attack on a vehicle during a pro-Morsi march near Republican Guard headquarters in Cairo on 19 July. News EgyptMiddle East – North Africa Help by sharing this information Organisation News Detained woman journalist pressured by interrogator, harassed by prison staff Follow the news on Egypt Less press freedom than ever in Egypt, 10 years after revolution to go further February 1, 2021 Find out more January 22, 2021 Find out more February 6, 2021 Find out more News Police raided the Cairo bureau of the Iranian TV station Al-Alam on 20 July and confiscated equipment. At first they gave no explanation, then they said the station did not have a permit to broadcast. This was denied by bureau chief Ahmad Al-Sioufi, who was held for 24 hours and then freed on bail of 10,000 Egyptian pounds (1,085 euros). “It is unacceptable that journalists keep on being targeted by the various protagonists,” Reporters Without Borders. “Egypt’s provisional government must take whatever steps are necessary to protect media personnel and media freedom.”Bader’s arbitrary detention and the attacks on the various news media come amid continuing political tension since President Morsi’s removal from office. News media that support the Muslim Brotherhood have been the target of harsh measures by the police and armed forces, while Morsi supporter are quick to attack media and journalists that do not share their views. EgyptMiddle East – North Africa Al Jazeera journalist Mahmoud Hussein back home after four years in prison Nada Khouwali, an editor with the newspaper Al-Shourouq, took out her camera when she saw clashes between Morsi supporters and opponents while on her way home on 20 July and was immediately attacked by armed young men, who threw her to the ground and accused her of being a Muslim Brotherhood supporter.last_img read more

Brave the Shave

first_imgPhoto Gallery Brave the Shave Contribute to the Matt Denny’s St. Baldrick’s Day fundraiser for cancer research by donating or going under the scissors yourself! STAFF REPORTS Published on Monday, March 23, 2015 | 1:25 pm Top of the News Believe it or not, but something as small as a bold new hair cut can help save children’s lives.Matt Denny’s Ale House held their 14th annual St. Baldrick’s Day Fundraiser on March 19 to benefit children’s cancer research.For the past 12 years, Matt Denny’s Ale House Restaurant has been holding this fundraiser, gathering people to shave their heads to show solidarity for children who have been going bald from their radiation treatments and raising as much as $450,000.118 men, women, and even children shaved their heads at the restaurant. Most of them were members of the Arcadia Fire and Police Departments and local schools.“This has been a great way to show support for the kids, and raise much needed funds for cancer research,” says Matt McSweeny, owner of Matt Denny’s.St. Baldrick’s Foundation, a volunteer-driven charity that aims to fund research to find cures for childhood cancers and give survivors long and healthy lives, has been asking men and women to “brave the shave” and help them raise funds. Since its inception, a lot of heads have been shaved, and over $200 million in donations have been received.Since 2002, Matt Denny’s has raised $657,121.  The goal for 2014 was $50,000 and they raised $85,507. This year’s goal is $60,000 and as of this writing, they have reached $65, 782: that’s 109% of the goal!Matt Denny’s is located at 145 E. Huntington Drive, Arcadia. For more information, call (626) 462-0250 or visit mattdennys.com. Business News Make a comment HerbeautyShort On Time? 10-Minute Workouts Are Just What You NeedHerbeautyHerbeautyHerbeauty12 Most Breathtaking Trends In Fashion HistoryHerbeautyHerbeautyHerbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeautyHerbeauty8 Celebrities People Don’t Love AnymoreHerbeautyHerbeautyHerbeautyAncient Beauty Remedies From India To Swear By For Healthy SkinHerbeautyHerbeautyHerbeautyTips From A Professional Stylist On How To Look Stunning In 2020HerbeautyHerbeauty Your email address will not be published. Required fields are marked * Name (required)  Mail (required) (not be published)  Website  faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Community News Subscribecenter_img First Heatwave Expected Next Week Community News Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. More Cool Stuff Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS 0 commentsShareShareTweetSharePin it Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

Caltech Professor Receives “High-Risk, High-Reward” Research Award

first_imgHerbeautyRemove Belly Fat Without Going Under The KnifeHerbeautyHerbeautyHerbeautyThese Are 15 Great Style Tips From Asian WomenHerbeautyHerbeautyHerbeautyWhat Is It That Actually Makes French Women So Admirable?HerbeautyHerbeautyHerbeautyThese Lipsticks Are Designed To Make Your Teeth Appear Whiter!HerbeautyHerbeautyHerbeautyKate Beckinsale Was Shamed For Being “Too Old” To Wear A BikiniHerbeautyHerbeautyHerbeautyCostume That Makes Actresses Beneath Practically UnrecognizableHerbeautyHerbeauty Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday First Heatwave Expected Next Week More Cool Stuff Top of the News Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Your email address will not be published. Required fields are marked * EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Make a comment faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyCitizen Service CenterPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Community Newscenter_img Business News Science and Technology Caltech Professor Receives “High-Risk, High-Reward” Research Award From Caltech.edu Published on Thursday, October 6, 2016 | 11:17 am Henry Lester Credit: Courtesy of H. LesterHenry Lester, Bren Professor of Biology and Biological Engineering, has received a Transformative Research Award from the National Institutes of Health (NIH) as part of the NIH’s High-Risk, High-Reward Research (HRHR) program. The Transformative Research Award, established in 2009 and awarded this year to 12 scientists, supports “exceptionally innovative, unconventional, paradigm-shifting research projects that are inherently risky and untested,” according to the NIH press release.Since he arrived in 1973, Lester has spent his entire professorial career at Caltech. His research now focuses on the actions of drugs on the ion channels, receptors, and transporters of “excitable cells”—cells such as neurons and muscle fibers that use electrical signals. Lester helped to pioneer “inside-out” neuropharmacology, which studies how the interaction of nicotine and nicotine receptors in an organelle called the endoplasmic reticulum leads to the addictive effects of nicotine, and in some cases to neuroprotective effects.With this award, Lester will study the mechanisms by which certain psychiatric drugs exert their therapeutic effects, as well as how additional addictive drugs such as opioids work. He hypothesizes that these drugs also work “inside-out,” binding first to molecular targets within organelles in cells. He and his group aim to develop genetically encoded fluorescent biosensors to measure drugs within organelles.“Nicotine has served as a model for neuroscience and pharmacology ever since Columbus’s crew sampled tobacco,” says Lester. “Caltech continues to support our work on the hypothesis that insights from nicotine help to explain psychiatric and addictive drugs, and this grant provides both additional validation and much-needed support.”Lester has more than 330 publications and nine US patents. He has served as chair of the Caltech faculty and as president of the Biophysical Society. He participates on the California Council for Science and Technology.This year, the HRHR Program, supported by the NIH’s Common Fund, awarded 88 grants in four categories: 12 Pioneer awards, 48 New Innovator awards, 12 Transformative Research awards, and 16 Early Independence awards. Name (required)  Mail (required) (not be published)  Website  Community News Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Subscribe Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena 2 recommended0 commentsShareShareTweetSharePin it last_img read more

The Industry Pulse: Updates on FDIC, Altisource, and More

first_img in Daily Dose, Featured, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Company News The Industry Pulse 2018-05-01 David Wharton The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 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 Home / Daily Dose / The Industry Pulse: Updates on FDIC, Altisource, and More Previous: Housing Inventory Shortages Hitting This Sector Hard Next: A Firm Hand May 1, 2018 2,591 Views Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily center_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago From rewards and recognition to new appointments and initiatives,get the buzz on the industry’s latest news in this weekly update.Vice Chairman and a Member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) Thomas M. Hoenig has announced that he is stepping down on April 30, 2018. Hoenig joined the Board in April 2012, and has served a full six-year term. Prior to joining the FDIC Board, Hoenig was the President of the Federal Reserve Bank of Kansas City and a Member of the Federal Open Market Committee (FOMC) from 1991-2011.”It has been an honor and a privilege to serve the public and be a part of the FDIC and its mission during these past six years,” Hoenig said.”I would like to thank Vice Chairman Hoenig for his extraordinary career of public service at both the FDIC and the Federal Reserve Bank of Kansas City,” FDIC Chairman Martin Gruenberg said. “Tom has been a forceful advocate for strong, independent financial regulation and has contributed enormously to the mission of the FDIC during his time as Vice Chairman. The FDIC was fortunate to benefit from his service.”________________________________________________________________________________Luxembourg-based Altisource Portfolio Solutions S.A. has appointed Patrick McClain as SVP, Hubzu Auction Services. McClain will report to Joseph A. Davila, President, Service Solutions.In this role, McClain will be responsible for driving the growth of Hubzu’s residential online marketing and auction business. Leveraging Hubzu’s scale, rich data resources, and fully integrated end-to-end services, McClain will oversee product innovation for the Company’s Online Auction, Live Auction, Short-Sale, Claims Without Conveyance of Title (CWCOT) and National Brokerage Services businesses along with Hubzu’s client management program and business development strategy.“Patrick has deep and highly-relevant product expertise and a broad industry network,” said Davila. “Hubzu is one of the largest online real estate auction services platforms in the country. We welcome Patrick’s entrepreneurial approach, significant industry experience and demonstrated operational expertise as we look to substantially grow Hubzu and stay at the forefront of this market.”________________________________________________________________________________Pennsylvania-based provider of real-estate lending support services, SBS, has announced the addition of Veros Real Estate Solutions’ VeroPRECISION product to their suite of valuation and appraisal management services.VeroPRECISION gives users the ability to determine if an automated valuation model (AVM) is an appropriate tool for a specific property. While other AVMs are typically applied at broad geographic levels, VeroPRECISION can be applied to an individual property, first determining if it is a good candidate for an AVM and then determining which evaluation tool will provide the most accurate and appropriate data.SBS offers a full suite of valuation and appraisal management services that can be tailored to meet unique specifications.The company provides real property appraisals and AVMs for banks, credit unions, mortgage lenders, and mortgage servicers.________________________________________________________________________________Pennsylvania-headquartered national mortgage services company, ServiceLink, has announced the appointment of Terri Hunter who has joined the company as a national sales executive of default services. Hunter joins the ServiceLink team with a wealth of knowledge and expertise from her many years in the industry.She most recently worked for Chronos Solutions as SVP of asset management and portfolio, where part of her responsibilities was overseeing all asset management contracts, both private and government, along with the profitability of that operation.Prior to Chronos Solutions, she was with OneWest Bank where she was responsible for property collateral management and liquidation strategies of defaulted assets for the bank. She also spent time with Ocwen Financial Corporation and Indymac Bank.________________________________________________________________________________Richard M. Squire & Associates, a Jenkintown, Pennsylvania based end-to-end mortgage default services law firm, announced its expansion into New Jersey. The firm, which brands itself as “smaller than some but second to none”, holds key business values such as “integrity, client satisfaction, and results.” The statement expressed the company’s excitement to now have a multi-state footprint with operations throughout Pennsylvania and New Jersey.“We are thrilled to be able to provide client-focused representation in the State of New Jersey to our present and prospective clients,” the statement said. “Our services will be available state-wide and will adhere to our existing Pennsylvania standards of excellence.” Related Articles The Industry Pulse: Updates on FDIC, Altisource, and More Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Company News The Industry Pulse Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Subscribelast_img read more

FHFA Director Calabria Testifies About Pandemic Response

first_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago FHFA Director Calabria Testifies About Pandemic Response Share Save Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago 2020-09-16 Christina Hughes Babb Sign up for DS News Daily The House Financial Services Committee (FSC) heard testimony Wednesday from FHFA Director Mark Calabria on his agency’s response to the pandemic.In advance of the hearing, which was entitled “Prioritizing Fannie’s and Freddie’s Capital Over America’s Homeowners and Renters? A Review of the Federal Housing Finance Agency’s Response to the COVID-19 Pandemic,” the FHFA published Calabria’s statement.The (FHFA), Calabria said, “has acted swiftly and prudently to respond to COVID-19. Thanks in part to our efforts, the housing market has largely been a bright spot in the pandemic economic data. We continue to update our policies as the challenges facing renters, borrowers, and market participants evolve.”He began his testimony by outlining the agency’s first response to the pandemic, which was transitioning its own staff to a virtual environment.He went on to highlight the significant amount of data on trends in the housing and mortgage markets collected by the FHFA. Said data “enables the Agency to respond appropriately to market developments, promote market efficiency and stability, and disseminate information to improve the public’s understanding of housing finance markets,” Calabria said. “Economic research and data analytics are core competencies of effective safety and soundness supervision, which is essential to preparing the Agency and the Enterprises to responsibly exit and operate safely outside of conservatorship. That is why, from the beginning of my term, one of my top priorities has been to strengthen FHFA’s research and data analysis capabilities.”Congresswoman Maxine Waters (D-California), FSC Chairwoman, also provided a statement in which she noted that, “short of a vaccine, our homes and the ability to shelter in place are the greatest protection we currently have against COVID-19.” The hearing, she said, was important, for reasons including, that “the U.S. Census Pulse Survey recently found that 8.4 million homeowners and 8.2 million renters are behind on their rent and mortgage payments.” (Her full statement is available here).Calabria said the FHFA’s top priorities have included “to support renters and homeowners struggling to pay for housing because of COVID-19.”To do this, Calabria said the Agency has directed the GSEs to put in place certain protections. “The Enterprises own or guarantee approximately $6.0 trillion in mortgages. That includes about 43% of multifamily units, about 8.6 million households, and more than half of single-family mortgages.  FHFA’s policies apply to all single-family homeowners and multifamily property owners with an Enterprise-backed mortgage. FHFA’s policies also help to set workable standards for the entire market.”The FHFA he said has protected more than 28 million homeowners and enabled roughly 200,000 families facing foreclosure pre-COVID to stay in their homes.”As a staffer on the Senate Banking Committee during the 2008 financial crisis,” he said. “I saw firsthand the importance of resisting the pressure to “act first, analyze later” that arises in a period of financial stress. In a crisis, panic can lead to ill-conceived policy responses and send confounding signals to the market. It is imperative to remain calm and make decisions based on careful, thoughtful analysis of the most up-to-date data available.”The published statement includes charts, data, and further analysis. It can be accessed here. Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Hurricane Sally Brings ‘Extensive’ Damages to Gulf Coast Next: Another Issuance of ‘Green’ Mortgage-Backed Securities  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago September 16, 2020 1,285 Views Subscribe Home / Daily Dose / FHFA Director Calabria Testifies About Pandemic Response The Best Markets For Residential Property Investors 2 days ago About Author: Christina Hughes Babb 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. last_img read more