Freddie Mac Kicks Off 2016 With Largest Ever Delinquent Loan Auction

first_img Demand Propels Home Prices Upward 2 days ago Subscribe Share Save Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago As Fannie Mae did earlier in January, Freddie Mac kicked off 2016 in a big way with residential non-performing loan (NPL) sales. On Friday, Freddie Mac announced its largest bulk NPL transaction yet—an auction of residential NPLs serviced by Nationstar Mortgage totaling $1.6 billion in unpaid principal balance (UPB).The NPLs are being offered in seven pools—five Standard Pool Offerings (SPOs), which are geographically diversified, and two Extended Timeline Pool Offerings (EXPOs), which are geographically concentrated. EXPOs. While SPOs often include larger pools of loans, the loans featured in EXPOs include smaller pool sizes and a longer marketing period, and target participation from smaller investors, including non-profits and minority- and women-owned businesses (MWOBs). Bids are due on February 23 for the SPOs and March 8 for the EXPOs, and the sales are expected to settle in the second quarter of 2016.Freddie Mac’s last bulk NPL sale was completed in December when about 5,300 deeply delinquent loans serviced by Wells Fargo with an aggregate UPB of $1.1 billion were sold via auction in five SPOs. Pretium Mortgage was the winning bidder in three of the pools and 21st Mortgage Corporation and Rushmore Loan Management were the winners of the other two pools.Both GSEs have made a substantial push in the last year to follow the directive of their conservator, the Federal Housing Finance Agency, to excise NPLs and deeply delinquent loans from their residential mortgage portfolios. On January 12, Fannie Mae announced its first bulk NPL sale of 2016 and fourth overall. Like the Freddie Mac NPL auction announced on Friday, Fannie Mae’s first NPL sale of 2016 will be its biggest yet in terms of UPB, featuring 6,700 deeply delinquent loans in five pools totaling $1.35 billion in UPB. That sale includes four larger pools and a smaller Community Impact Pool targeting smaller investors, similar to Freddie Mac’s EXPOs.The transaction announced on Friday is Freddie Mac’s third bulk NPL sale worth more than $1 billion. The previous two were worth $1.1 billion each. Overall, it will be Freddie Mac’s ninth bulk Standard Pool Offering (SPO) auction since the first sale closed in August 2014 and the two EXPOs will be the second and third sold. Freddie Mac’s first-ever EXPO sold in June via auction to Corona Asset Management, and included 157 deeply delinquent loans with an aggregate UPB of about $31 million.All bidders must comply with the Federal Housing Finance Agency (FHFA)’s enhanced requirements for NPL sales announced on March 2, which include approval by and good standing with government housing agencies (Freddie Mac, Fannie Mae, Ginnie Mae, and the Federal Housing Administration); evaluating borrowers for eligibility in the government’s Home Affordable Modification Program (HAMP); and applying a “waterfall” of resolution tactics before resorting to foreclosure.For more information about Freddie Mac’s NPL sales, click here. Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac Kicks Off 2016 With Largest Ever Delinquent Loan Auction Tagged with: Deeply Delinquent Loans Freddie Mac Loss Mitigation Non-Performing Loans Related Articles  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 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. center_img Deeply Delinquent Loans Freddie Mac Loss Mitigation Non-Performing Loans 2016-01-22 Brian Honea Servicers Navigate the Post-Pandemic World 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 Home / Daily Dose / Freddie Mac Kicks Off 2016 With Largest Ever Delinquent Loan Auction in Daily Dose, Featured, Loss Mitigation, News Sign up for DS News Daily January 22, 2016 2,013 Views The Best Markets For Residential Property Investors 2 days ago Previous: Ask the Economist: What Will be the Biggest Obstacles to Homeownership This Year? Next: SunTrust’s Mortgage Servicing Income Surges Amid Positive Earnings Report Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honealast_img read more

Unemployment Reports Weekly Decline

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Unemployment Reports Weekly Decline Share Save Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Employment HOUSING 2020-06-11 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Employment HOUSING Governmental Measures Target Expanded Access to Affordable Housing 2 days ago In the week ending June 6, the advance figure for seasonally adjusted initial claims was 1,542,000, a decrease of 355,000 from the previous week’s revised level, according to the Department of Labor. The previous week’s level was revised up by 20,000 from 1,877,000 to 1,897,000. The 4-week moving average was 2,002,000, a decrease of 286,250 from the previous week’s revised average. The previous week’s average was revised up by 4,250 from 2,284,000 to 2,288,250.The U.S. economy also added 2.5 million jobs in May and the unemployment rate declined to 13.3% from the prior report’s 14.7%, according to the Bureau of Labor Statistics. The unemployment rates decline in May for adult men to 11.6%, adult women (13.9%), Whites (12.4%), African Americans (16.8%), and Hispanics (17.6%).Construction employment rose by 464,000 in May—gaining back almost half of April’s decline (-995,000). Much of this gain was attributed to specialty trade contractors, with the increase split between the residential and nonresidential components.Realtor.com’s Chief Economist Danielle Hale said the share of works who expect to return to work within six months remains higher than normal, but “that’s one of the few bright spots in an otherwise dismal report.”“Even workers expecting only a short disruption in income likely cut back on spending and dipped into savings to make ends meet. Unemployment benefits, which are currently more generous than usual, will help, but major purchases such as cars and homes may be delayed for some buyers until they feel like the jobs market is back to normal,” Hale said. “The longer the disruption in the labor market, the longer consumers may have to wait on making major purchases such as cars and homes.”For the week ending May 23, the states and territories with the highest insured unemployment rates were Maine (26.9%), Nevada (24.3%), Michigan (21.7%), Hawaii (20.1%), and Puerto Rico (19.0%). The national figure for the corresponding week was 14.6%. The insured unemployment rate represents the fraction of the unemployment insurance-eligible workforce currently receiving benefits. For the week ending May 30, Florida and Oregon showed the largest increases in continued claims, rising 306,000 and 201,000, respectively, from the prior week, while Pennsylvania and Texas had the largest declines, falling 166,00 and 160,000, respectively, from the prior week. (All state-level data for the week ending May 30 should be considered preliminary estimates due to the way these data are collected)”As with the prior weeks, a few caveats make this week’s data difficult to interpret precisely,” said Fannie Mae Chief Economist Doug Duncan. “On one hand, unemployment insurance eligibility rules have been relaxed recently, increasing the number of people who are able to apply. This makes it difficult to estimate the uninsured unemployed share of the workforce. On the other hand, many states reported a significant backlog of unemployment insurance applications due to a lack of processing capacity, indicating that this week’s release may understate the true extent of insured layoffs.” Previous: Redlining Results in 52% Less Home Value for Homeowners Next: Forbearances Decrease for Second Consecutive Week in Daily Dose, Featured, Market Studies, News June 11, 2020 1,131 Views center_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Unemployment Reports Weekly Decline Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribelast_img read more

Fridays on the Fly: Explore the Western North Carolina Fly Fishing Trail

first_imgIt’s no secret that Jackson County is home to some of the best trout fishing this side of the Mississippi River, but did you know that this Western North Carolina county is also the birth place of the country’s first and only fly fishing trail?That trail was established back in 2009 with the help of county officials and longtime local anglers. Alex Bell, who guides on the Tuckaseegee River and other Jackson County waterways, was one of several local fisherman instrumental in developing all fifteen points along the trail.“It just sort of evolved,” Bell said of the Western North Carolina Fly Fishing Trail. “We all sat around, got the maps out, showed places that we’d fished and been successful and came up with the fifteen spots that are currently on the map.”These brain storming sessions by Bell and other local anglers have resulted in a rare cache of insider info that’s been aggregated, mapped, and is now available, free of charge, to anyone with an interest and a desire to fish Jackson County’s plethora of top-notch trout streams.I had the opportunity to fish with Alex on the Tuckaseegee River last November, and the trip did not disappoint. I highly recommend his services if you’re ever looking for friendly, knowledgable guide in the area.Check out the details on all 15 fly fishing hot spots below, visit flyfishingtrail.com to download your own  copy of the Western North Carolina Fly Fishing Trail map, and start ticking these prime stretches of trout water off your to-do list this weekend!1). Scott CreekThe Stretch: roughly 10 miles from the headwaters near Balsam, NC down to Sylva, NCAccess Point(s): Parking and access available via several pull-off areas along U.S. 23/74Type of Water: Hatchery SupportedAvailable Fish: Brown, RainbowNumbers or Size: NumbersNoteworthy: Stretch also includes North Fork Scott Creek and Buff Creek, which are very scenic2). Small StreamsMoses Creek, Mull Creek, Rough Butt Creek, Chastine Creek, Piney Mountain CreekThe Stretch: Collection of small streams in eastern Jackson County, below Blue Ridge ParkwayAccess Point(s): Via Moses Creek Rd (SR 1740) & Caney Fork Rd (SR 1737), avoid posted landType of Water: Wild TroutAvailable Fish: Brook, RainbowNumbers or Size: NumbersNoteworthy: Mountainous terrain, includes several large waterfalls7331201_staClick this graphic for a downloadable version of the WNC Fly Fishing Trail map.3). Caney ForkThe Stretch: Roughly 10 miles from East Laporte Park to headwaters at fork of Mull Creek and Piney Mountain CreekAccess Point(s): Access via Caney Fork Road (SR 1737), avoid posted landType of Water: UndesignatedAvailable Fish: Rainbow, Brown, occasional BrookNumbers or Size: NumbersNoteworthy: Respect private land owners4). Tanasee CreekThe Stretch: Roughly 2-3 miles from Tanasee Creek bridge up to headwatersAccess Point(s): Parking and access available at bridge on Tanasee Creek Road (SR 1762)Type of Water: Wild TroutAvailable Fish: BrownNumbers or Size: BothNoteworthy: Very scenic stretch in the Nantahala National Forest5). Panthertown CreekThe Stretch: Entire stream, roughly 3 milesAccess Point(s): Parking and access at end of Breedlove Rd (SR 1121), with 2-mile walk to creekType of Water: Catch & Release Single Hook Artificial LureAvailable Fish: BrookNumbers or Size: NumbersNoteworthy: Located in Panthertown Valley, which is known as the “Yosemite of the East” because of its bowl shape and rocky bluffs6). Raven Fork (Cherokee Trophy Water)The Stretch: Starts at Blue Ridge Parkway bridge near Cherokee and goes north for 2.2 milesAccess Point(s): Parking & access via several pull-off areas along Big Cove Road; paths run along streamType of Water: Catch & Release Fly Fishing OnlyAvailable Fish: Golden, Rainbow, Brown, Brook & Donaldson troutNumbers or Size: Both Noteworthy: This stretch is also called Cherokee Trophy Water and fish of 20-30 inches are common; Cherokee annual permit and daily permit required9119127_sta7). Whitewater RiverThe Stretch: Roughly 2-3 miles from Hwy. 107 down to the South Carolina state lineAccess Point(s): Parking and access along N.C. 107, a few miles south of CashiersType of Water: Wild TroutAvailable Fish: Brook, Brown and RainbowNumbers or Size: NumbersNoteworthy: Flows into Whitewater Falls, the highest waterfall east of the Mississippi8). Scotsman and Fowlers Creek into Chattooga RiverThe Stretch: Roughly 2-3 miles of each stream flowing down into the Chattooga RiverAccess Point(s): Access available via Whiteside Cove Rd (SR 1107) or Bullpen Rd (SR 1100) in Nantahala National ForestType of Water: Wild Trout with Natural BaitAvailable Fish: Brown, RainbowNumbers or Size: Numbers (creeks), Size (Chattooga)Noteworthy: The movie Deliverance was filmed on the Chattooga River9). West Fork Tuckaseegee RiverThe Stretch: From small reservoir at Thorpe Power House upstream several hundred yardsAccess Point(s): Parking and access available both sides of N.C. 107 near Thorpe Power HouseType of Water: Hatchery SupportedAvailable Fish: Brown, RainbowNumbers or Size: NumbersNoteworthy: Although hatchery supported, this has nice concentration of stream-raised fishtuck-river-110). Tuckaseegee River (East LaPorte Park to NC 107 Bridge)The Stretch: Roughly 2-3 miles from park to bridgeAccess Point(s): Parking and access available at East Laporte Park and pull-off areas along Old Cullowhee RoadType of Water: Hatchery SupportedAvailable Fish: Rainbow, Brook and BrownNumbers or Size: NumbersNoteworthy: East Laporte Park has picnic tables and public restrooms11). Savannah CreekThe Stretch: About 10 miles from headwaters in Pumpkintown into Tuckaseigee RiverAccess Point(s): Parking and access available via several pull-offs along U.S. 23/441Type of Water: Hatchery SupportedAvailable Fish: Rainbow, BrownNumbers or Size: NumbersNoteworthy: Access limited the closer you get to the Tuckasegee River12). Tuckaseegee River (NC 107 Bridge to Dillsboro park)The Stretch: Roughly 4-5 mile stretch from bridge to the riverside park in DillsboroAccess Point(s): Parking and access available via numerous pull-offs along North River RoadType of Water: Delayed HarvestAvailable Fish: Brook, Brown and RainbowNumbers or Size: BothNoteworthy: Best place to achieve the Tuckaseigee Slam (catch all three species in one spot)7172551_org13). Greens CreekThe Stretch: About 3-4 miles from Macon County line to Savannah CreekAccess Point(s): Various places along Greens Creek Road (SR 1370)Types of Water: Wild Trout, Undesignated, Hatchery SupportedAvailable Fish: Rainbow, some BrownNumbers or Size: NumbersNoteworthy: Portion of the creek flows through the Nantahala National Forest14). Tuckaseegee River (in Dillsboro)The Stretch: About 1 mile from Dillsboro park through townAccess Point(s): Various places between park and Best Western River Escape InnType of Water: Hatchery SupportedAvailable Fish: Rainbow, BrownNumbers or Size: SizeNoteworthy: Includes two lodging options: Best Western River Escape Inn and Dillsboro Inn15). Lowe Tuckaseegee River (Barker’s Creek Bridge to Whittier)The Stretch: Roughly 8-10 miles from bridge to WhittierAccess Point(s): Parking and access via pull-offs and businesses along U.S. 19/74 freewayType of Water: Hatchery Supported, UndesignatedAvailable Fish: Rainbow, BrownNumbers or Size: SizeNoteworthy: The stretch is also home to smallmouth bass\More from the Fridays on the Fly Blog:last_img read more

Harrington hoping for first European Tour win in eight years

first_imgThe two-time major winner, who is aiming for his first European Tour win in eight years, is 17-under par.Anders Hansen and Mikko Korhonen share the lead on 18 under par.last_img

Ex-Giants pitcher Randy Johnson gets trolled in Edgar Martinez HOF speech

first_imgThere are a lot of reasons to love baseball’s Hall of Fame weekend. Not the least of which is the “now they can be told” stories.One was told on Sunday, and it was aimed, good-naturedly, at Randy Johnson — born in Walnut Creek, reared in Livermore, spent his last MLB season with the Giants (winning his 300th game), and a member of the Hall of Fame class of 2015.Johnson spent considerable time with the Seattle Mariners as a teammate of Edgar Martinez, who was inducted over the weekend. The …last_img

Paralympic dream team

first_imgTeam South Africa is ready to take on the world at the 14th Paralympic Games in London. Sascoc president Gideon Sam praised the Paralympic team for consistently performing to a high standard. Converse sneakers and all – the ensemble to be worn by the Olympic and Paralympic athletes at their respective opening ceremonies.(Images: Janine Erasmus) MEDIA CONTACTS • Madira Sehlapelo  Coordinator: operations and events,  Sascoc  +27 11 483 3788 RELATED ARTICLES • SA Olympic team announced • Running into the history books • Carrying the hopes of a nation • Running is in her blood • Olympic countdown beginsJanine ErasmusTeam South Africa for the 14th Paralympic Games has been announced in Johannesburg – the 61-strong squad will cover seven disciplines, including athletics, cycling, rowing, equestrian, swimming and wheelchair tennis and basketball.Making the announcement, South African Sports Confederation and Olympic Committee (Sascoc) president Gideon Sam urged the team to stay focused and keep their attention on the work at hand.He praised the team for its consistently stellar performance over the years.“The Olympic team may have been subject to criticism now and then, but our Paralympians have always done us proud. They’ve brought glory to the country time and again,” he said.Sam said that the 66 athletes of Team SA at the 2008 Beijing games brought back 30 medals, of which 21 were gold – this placed them sixth on the overall medals table.“In 2012 we have a squad of the same, if not higher, quality,” he said, “so there’ll be no sleepless nights for me.”The minister of sport and recreation, Fikile Mbalula and his deputy Gert Oosthuizen were also in attendance.Brand South Africa CEO Miller Matola sent his best wishes to the sport stars. “Their inclusion in the team is a testament to their excellence on the sporting field.”The London Paralympics gets underway on 29 August and ends on 9 September.Making a fashion statementAlso at the team announcement, the designer kit to be worn by the Olympic and Paralympic teams at their respective opening ceremonies, was unveiled.Durban designer Leigh Schubert’s chic creation was chosen as the winner by the nation, out of a line-up of six finalists who were presented to the public for their consideration a few months ago. The public, who also voted for Chukuru the rhino as the official team mascot, were asked to vote for their favourite opening ceremony ensemble.Familiar facesThe formidable Team SA includes familiar names such as swimmer Natalie du Toit, sprinter Oscar Pistorius and wheelchair racing superstar Ernst van Dyk.There are 25 athletes, 10 swimmers, six cyclists, four equestrians, one rower, 11 wheelchair basketball players and four wheelchair tennis players. The Chef de Mission is Pieter Badenhorst, and managers, coaches and other support staff make up the rest of the squad.Andy Scott, former CEO of the National Paralympic Committee – which has since been incorporated into Sascoc – and a Paralympic swimmer himself, said that in all, South Africa boasts 139 Paralympic medals.“Our athletes have brought 63 gold, 37 silver and 39 bronze medals back to this Rainbow Nation,” he said to the applause of the audience, adding that stars such as javelin champion Zanele Situ, Pistorius and Du Toit have done exceptionally well in putting South Africa ahead of other nations in this field.Sam said that it was now the Paralympic team’s turn to grab the limelight. He also thanked the sponsors for their support, saying that their loyalty has been repaid by the many medals won by South Africa’s para-athletes.The full Team SA for the 2012 London Paralympics:Athletics Tshepo Bhebe, Dyan Buis, Andrea Dalle Ave, Pieter du Preez, Charl du Toit, Arnu Fourie, Ilse Hayes, Hilton Langenhoven, Anrune Liebenberg, Michael Louwrens, Teboho Mokgalagadi, Jan Nehro (guide: Duane Fortuin), Zandile Nhlapo, Jonathan Ntutu, Oscar Pistorius, Anika Pretorius, Samkelo Radebe, Casper Schutte, Union Sekailwe, Zanele Situ, Zivan Smith, Marius Stander, Duane Strydom, Fanie van der Merwe, Chenelle van Zyl Manager: Dion Bishop. Coaches: Suzanne Ferreira, Zelda Hansen, Hennie Koekemoer, Karin le Roux, Ampie Louw. Team Assistant: Neels Matthyser. Helper: Illse du PreezCycling Roxy Burns, Madre Carinus, Stuart McCreadie, Jaco Nel, Ernst van Dyk, Gerhard Viljoen. Manager: Mike Burns. Coach: Ricky Kulsen, Mechanic: Pieter JansenEquestrian Anthony Dawson, Philipa Johnson, Marion Milne, Wendy Moller Manager: Tracey Cumming. Coach: Chris Haazen. Vet: Sheelagh Higgerty. Grooms: Enoch Cele, Anton Chimbuanda, Elizabeth Newsome, Teri SmithRowing Sandra Khumalo Manager/coach: Marco GaleoneSwimming Renette Bloem, Charl Bouwer, Natalie du Toit, Emily Gray, Achmat Hassiem, Hendri Herbst, Marike Naude, Kevin Paul, Shireen Sapiro, Tadhg Slattery Manager: Queeneth Ndlovu. Coach: Karoly Toros. Coach/Tapper: Karin Hugo. Tapper/Helper: Eeden MeyerWheelchair basketball Justin Govender, Siphamandla Gumbi, Stuart Jellows, Kyle Louw, Luvuyo Mbande, Gift Mooketsi, Richard Nortje, Kobus Oeschger, Marius Papenfus, Marcus Retief, Jaco Velloen Manager: Willie Riechert. Coach: Patrick Fick. Assistant coach: Shadrack Moepeng. Technical coach: Franck BelenWheelchair tennis Evans Maripa, Sydwell Mathonsi, Kgothatso Montjane, Lucas Sithole Manager/coach: Holger Losch. Assistant coach: Khotso MatshegoGeneral team management Chef de Mission: Pieter Badenhorst Project manager: Vinesh Maharaj Manager (logistics): Clifford Cobers Logistics: Madira Sehlapelo Manager (athletes services): Chantelle Jardim Athlete services: Dumisani Mtwa Chief medical officer: Wayne Derman Chief physiotherapist: Grace Hughes Doctor: Paul Maphoto Physiotherapists: Given Baloyi, Edwin Bodha, Greshne Davids, Shantal Edwards, Dan Ntseke, Evah Ramashala Classifier: Tarina van der Stocktlast_img read more