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  • Freddie Mac Offloads More Risk to Private Investors

    first_imgHome / Daily Dose / Freddie Mac Offloads More Risk to Private Investors 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 ago Tagged with: Credit Risk Transfer Freddie Mac STACR Structured Agency Credit Risk The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Credit Risk Transfer Freddie Mac STACR Structured Agency Credit Risk 2016-06-08 Brian Honea The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Previous: Slowing Loan Mods, Liquidations Even Out Next: Baby Boomers in Position to Control Market’s Direction in Daily Dose, Featured, News, Secondary Market Related Articlescenter_img Servicers Navigate the Post-Pandemic World 2 days ago June 8, 2016 1,129 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Freddie Mac is continuing efforts to offload more risk on single-family loans onto private investors. The GSE priced its fifth offering through the Structured Agency Credit Risk (STACR) program this year and 22nd overall was priced at $795 million, according to an announcement from Freddie Mac on Wednesday.The STACR program began in July 2013 as a way for Freddie Mac to transfer a portion of credit risk on single-family loans to investors in the private capital market, according to Freddie Mac.The latest STACR offering, STACR 2016-DNA3, includes a reference pool of newly acquired single-family mortgages with an aggregate unpaid principal balance (UPB) of approximately $26.4 billion, Freddie Mac reported.With the first 21 offerings, Freddie Mac’s STACR issuances to date covered 29.38 percent of the agency’s total book of business. The Federal Housing Finance Agency (FHFA)’s scorecard for 2016 requires the GSEs to lay off credit risk on 90 percent of their newly-acquired loans in categories targeted for transfer, according to the Urban Institute. The FHFA has been conservator for both Fannie Mae and Freddie Mac since September 2008.“We created the agency credit securities asset class in 2013 and have since issued more than $15 billion in STACR debt notes,” said Mike Reynolds, vice president of Credit Risk Transfer for Freddie Mac, in early May. “With (STACR 2016-DNA2, priced on May 3), we saw that market conditions have continued to improve from their lows earlier this year.”“It looks like this asset class is here to stay and is helping us access multiple pockets of capital.”Kevin Palmer, Freddie MacFreddie Mac has three more STACR offerings planned for the remainder of the year for a total of eight in 2016 after issuing eight in 2015, seven in 2014, and two in 2013.On May 20, Freddie Mac announced that the STACR debt notes program had received the prestigious “RMBS Deal of the Year” award by GlobalCapital, a leading financial news and data service covering the capital markets.“The agency credit securities market will celebrate its third birthday in June,” said Kevin Palmer, senior vice president of Credit Risk Transfer for Freddie Mac. “It looks like this asset class is here to stay and is helping us access multiple pockets of capital.” Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Freddie Mac Offloads More Risk to Private Investors Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily last_img read more

  • Welltec man to take CFO role at Maersk Supply

    first_imgDanish offshore shipowner Maersk Supply Service (MSS) has named a new chief financial officer (CFO).Maersk Supply said on Friday that Michael Krabbe would join the company as the CFO and head of business services on December 1, 2017. He will replace Kasper Mahon Andreasen, who joined Damco for a similar position in August.As CFO, Krabbe will report to CEO Steen S. Karstensen and will be a member of the senior management team at MSS.Krabbe currently holds the position of CFO in Welltec and brings with him six years of senior financial management experience.Before joining Welltec, Krabbe began his career in TDC and worked in various management positions within finance, from 2007-11 as Vice President. He holds an MSc in finance from Aarhus School of Business and an MSc in economics and finance from Warwick University.Karstensen said: “In addition to a strong track record from different finance positions throughout his career, Michael Krabbe brings a wealth of insight about the oil and gas industry.“Maersk Supply Service has an exciting yet challenging journey ahead where these skills will be needed. With Michael on board, we have made a strong addition to our leadership team.”last_img read more

  • Babcock and University of Edinburgh Team Up on New Test Facility

    first_imgA £2.4 million engineering research facility will seek to speed the development of materials and structures for tidal energy, transport and other industries.The FASTBLADE facility will test new materials within full scale structures such as tidal blades, plane components and bridge sections.It will be built by the University of Edinburgh and commercial partner Babcock International at Rosyth in Fife, Scotland.FASTBLADE will be the first facility in the world designed to carry out large-scale accelerated testing of tidal blades.Testing will use complex forces that simulate real environments, limiting the risks for product developers.Engineering researchers will use an efficient hydraulic technology – developed by University spin-off company Artemis Intelligent Power – which enables structures to be tested significantly faster and using less energy compared with existing technologies.The system will recover energy between load cycles, reducing the cost of testing.FASTBLADE’s first clients will include tidal stream developers.Tidal blades made of composite materials need to be designed to withstand high fatigue loads in harsh ocean conditions for up to 20 years.Pioneering measurement systems will enable developers to learn from test datasets to understand damage accumulation and optimise blade structures through data-driven design.FASTBLADE will help fulfill the University’s commitments as part of the Edinburgh and South East Scotland City Region Deal, which includes targets to help improve digital skills across the whole of the region.The facility has received £1.4m from the Engineering and Physical Sciences Research Council and £1m from the University of Edinburgh.Babcock is the principal designer and host of the facility.FASTBLADE is a key strand of a strategic partnership between Babcock and the University, developed with Edinburgh Innovations, the University’s commercialisation service.“This collaboration is an opportunity to develop a world-class engineering facility to accelerate and support the development of new efficient technologies, and will be a great benefit to the tidal energy sector,” said Professor Conchúr Ó Brádaigh Head of School of Engineering.“For us, this really is a great industrial partnership. Our engineers working alongside the University’s renowned academics has shown what the art of the possible is, in engineering and in working together. Whilst we are still at the early stages of development I know we are creating something that isn’t just a great opportunity for us, it will have real benefit for all the companies using the facility in years to come,” Neil Young, technology director Babcock.last_img read more

  • Bus driver falls in buy-bust

    first_imgWhen frisked, six more sachets ofsuspected illegal drugs were recovered from him, it added. BACOLOD City – He allegedly sold illegaldrugs. Narciso – resident of Barangay Banilad,Dumaguete City, Negros Oriental – was nabbed after he sold a sachet ofsuspected shabu to an undercover cop for P500 around 2:40 p.m. on March 8, apolice report showed. Charges for violation of Republic Act9165, or the Comprehesive Dangerous Drugs Act of 2002 will be filed againstNarciso./PNcenter_img The suspect was detained in the lockupcell of the Hinoba-an municipal police station. The 43-year-old bus driver JonardNarciso was caught in a buy-bust operation in Barangay 1 Poblacion, Hinoba-an,Negros Occidental.last_img read more

  • Conway Springs Fall Fest to start Thursday, run through Saturday

    first_imgFollow us on Facebook.Follow us on Twitter. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more

  • Bill Nunn Jr remembered…Black pioneer journalist, NFL scout dies at 89

    first_imgBill Nunn JrHe said he always based his life’s decisions on where he could do the most good.Forner Courier Managing Editor and legendary Pittsburgh Steelers scout Bill Nunn Jr. died May 7 after suffering a stroke two weeks’ prior at a Steelers meeting in which he was helping the team put together information for the recent 2014 draft.He is survived by his wife Frances of 63 years, a son, Bill Nunn III, an actor; a daughter Lynell Nunn, an attorney; three grand children and one great grand-child. The viewing was at John A. Freyvogel Sons May 13, and the funeral was sheduled for Grace Memorial Church in the Hill District, May 14.Nunn had two great careers which impacted Blacks nationwide as he opened doors and kept doors open for Blacks in sports, as a writer, editor for the Courier and as a scout for the Pittsburgh Steelers.“I had some tough choices when I graduated from West Virginia State in 1948,” Nunn said. “I could have signed with the Harlem Globetrotters but I chose the Courier.  I chose the Courier because I could do more good.”Nunn left the Courier in 1969 to join the Steelers scouting team full time, once again stating that he felt he could do more good.He became the first African-American appointed to a front-office position with the Steelers and held the title of senior assistant in their player personnel office when he died.“We have lost a great friend and a great person who did so much for the Steelers organization with the passing of Bill Nunn,” said Steelers chairman Dan Rooney.“Bill was a special person who did everything in his career, from playing sports to being an excellent journalist, all of which led to his outstanding career in scouting for the Steelers.”After joining the Steelers part time in 1967 and moving to fulltime in 1969 Nunn more than anyone else helped channel Black College players into the NFL. Prior to Nunn there were not just a few Blacks entering the NFL from Black colleges but few Blacks period.Nunn, first through his work with the Courier, after replacing Wendell Smith as the principal sports writer crusading to get more Blacks into the professional ranks of football, basketball and baseball, after Jackie Robinson broke the color barriers in pro sports, and then as a scout for the Steelers.As the man who put together the Pittsburgh Courier Black College All American team which showcased the best of the best among Black Colleges, Nunn knew better than anyone the talent available at Black Colleges and he used this knowledge to feed these players along with others to the Steelers.Even though they all didn’t come from Black colleges, Joe Greene, L. C. Greenwood, Mel Blount, Frank Lewis, John Stallworth, Donnie Shell, Ernie Holmes, Dwight White, Glen Edwards, are just some of the players who were drafted by the Steelers through the guidance of Nunn, which led to four Steelers Super Bowls.The Steelers success led to other teams realizing that if they wanted to win or be competitive they had to go after the Black players not only from the larger colleges but Black colleges as well. It also forced major Division I football and basketball college programs to go after the top Black athletes, who had previously been going to Black colleges. This led to the NFL and NBA growing from less than 10 percent of the players being Black to more than 70 percent.“I left the Courier to become a fulltime scout for the Steelers because John Sengstacke, (the new owner of the Courier at the time) wanted me to leave Pittsburgh and go to Chicago. I’m a Pittsburgher,” Nunn said about his decision to leave the Courier at which he had worked for 22 years. He was the managing editor of the National Edition at the time. “I loved the Courier, but I knew it was in good hands. Plus with the great decline in the national readership and my working relationship with the Rooney’s I felt I could do more to help get more Blacks into the NFL as players, coaches, and front office personnel.”Nunn continued to put together the Courier Black College All American team for several years after leaving the paper.Even though Nunn never played or coached football, he was an inaugural member of the Black College Football Hall of Fame in 2010, joining the likes of Walter Payton, Jerry Rice, Deacon Jones and Eddie Robinson. Nunn also was nominated for the Pro Football Hall of Fame in 2007.He said that a conversation with Art Rooney, the Steelers founder and Dan Rooney is what led to him being hired as a scout. He said it also helped in that his father knew Art very well. They had been friends for years. Later Dan Rooney stated that in his conversation with Nunn Jr., about which direction the team should go in selecting players they agreed on just about every point.In talking about his decision to join the paper after graduating from West Virginia State instead of joining the Harlem Globetrotters, who had offered him a lucrative contract Nunn said. “My father never put any pressure on me to join the paper. I think he wanted me to play for the Harlem Globetrotters, who wanted me badly. But I chose the Courier because of its history, and what it was doing and what it was going to do. And I knew Wendell was leaving which would make me the main sports writer.”Following in his fathers’ footsteps, Nunn Jr. had some big shoes to fill. Robert L. Vann, publisher; Ira Lewis, business manager; and Bill Nunn Sr., managing editor; together built the Courier into the largest and most influential Black newspaper in the country. So when the young Nunn decided to join the paper his boss was his father, and the man he was replacing was the legendary Wendell Smith, but that didn’t faze him.He went on to build his own legacy as a writer and editor with the Courier then moved on to become one of the greatest scouts in NFL history helping turn the Steelers from a perennial loser to one of the greatest franchises in history, all because he always put the interest of the Black community first.He always spoke with great pride in the fact that he stayed in the Hill District, and lived in his father’s house.last_img read more

  • Sunderland said to be keen to sign Townsend on loan from Tottenham

    first_imgSunderland are looking to sign Andros Townsend on loan from Tottenham, according to Goal.com.Townsend impressed during a loan spell at QPR, who want to sign him on a permanent basis but believe Spurs are unlikely to let him go.Several other Premier League clubs, including Newcastle, would also be interested in the 23-year-old wide-man should he become available, Goal say.QPR have enquired about Townsend several times since his loan spellMeanwhile, Chelsea are among the clubs supposedly looking to sign Barcelona’s Sergio Busquets.It comes after reports in the Spanish media that the player could move during next month’s transfer window or in the summer, with Bayern Munich and Paris St-Germain said to be keen.The Express say Chelsea, Arsenal and Manchester United are interested and that Busquets could be tempted to move to England.For more transfer speculation, including QPR’s Adel Taarabt being linked with a move to the United States, see Sunday morning’s Paper Talk.See also:Palace linked with Taarabt, Newcastle said to be considering Austin bidFollow West London Sport on TwitterFind us on Facebooklast_img read more

  • SA’s fashion now online

    first_img30 July 2007A forward thinking company has launched a website that provides both established and up-and-coming fashion designers a platform to showcase their clothing and accessories in a virtual shop, the first of its kind in South Africa.With limited access to fashion shows and soaring rentals being a stumbling block for most young designers, Adam & Eve gives them a possible solution to their problems.“Apart from being an excellent place to shop, www.adamandeve.co.za is giving the rising fashion stars of South Africa a head start”, says Adam & Eve director Frankie Fleck in a statement on Wednesday.The company states that by having an online presence, South African brands will also be available to customers both locally and worldwide.While living in the UK, Fleck first came up for the idea of an online shopping portal in South Africa, which would give users who are either too busy to shop or living in remote parts of the country access to fashion.“I believe that our virtual shop could be a springboard for a lot of the rising talent we have here in South Africa within the fashion industry and by giving these designers the opportunity to share an online portal with the likes of Levis, Puma, Rosenwerth, Kluk CGCT, Black Coffee and Maya Prass, they are certainly going to benefit”, Fleck states.Other notable South African brands available through the website include Spilhaus (Swarovski), Black Coffee, Stiaan Louw, Chica-Loca and Mandy G.The company states that while many South Africans have been reluctant to spend money online in the past, increased security measures and more rigorous credit card procedures have created a newfound confidence in local online shoppers.“Together with the convenience of desktop shopping, sizing guides and an easy returns policy, this already booming business is set to dramatically alter the way fashion is displayed and sold,” Adam & Eve states.SouthAfrica.info reporter Want to use this article in your publication or on your website?See: Using SAinfo materiallast_img read more

  • South Africa’s ‘time of renewal’

    first_img9 May 2009 South Africa’s fourth democratically elected President has called on South Africans to unite and move forward decisively together in a time of renewal for the country. Speaking after being inaugurated as President at the Union Buildings in Pretoria on Saturday, Zuma held a hand out to all South Africans, saying: “Let us build a nation that remains forever mindful of its history, … of the many who put down their lives so we can be here today. “A nation filled with the laughter and joy of children. A nation filled with a hope born of the knowledge that, if we work together, we will achieve our dreams.” In a moving speech, the new President said this was “a moment of renewal”, an opportunity to rediscover “that which binds South Africans together as a nation”. As if in agreement, the skies over Pretoria cleared as Zuma took the President’s oath, after heavy rains had pounded the capital earlier in the morning. In the presence of 29 heads of state, thousands of people gathered at the Union Buildings amphitheatre and millions more watching on television, Zuma swore to be faithful to South Africa, to obey its laws, to observe its Constitution, to promote the country, and to oppose all that harmed it. This he swore to do with all his strength and talent, while being true to his conscience and doing justice to all. With streams of smoke the colours of the South African flag still trailing in the sky following a fly-past by six South African Air Force jets, Zuma said he took up the highest office in the country conscious of the responsibilities that the people of the country had entrusted him with.‘No place for complacency, cynicism, or excuses’ “I commit myself to the service of our nation with dedication, commitment, discipline, integrity, hard work and passion,” the President said, adding: “There is a lot to be done. “The dreams and hopes of all the people of our country must be fulfilled. There is no place for complacency, no place for cynicism, no place for excuses.” Despite vastly different experiences, divergent interests and varying viewpoints, South Africans, he said, shared a common desire for a better life. “We share a common conviction that never shall we return to a time of division and strife. From this common purpose we must forge a partnership for reconstruction, development and progress.” Everything the government did, Zuma said, had to contribute directly and meaningfully to improving people’s lives. To achieve this, government and civil society had to hold themselves to the highest standards of service, probity and integrity. Zuma urged South Africans to help the government build a society that prizes excellence and rewards effort while shunning laziness and incompetence, a society “that draws on the capabilities, energy and promise of all its people.” Source: BuaNewslast_img read more

  • South Africa Hosts the Inaugural Africa Communications Week

    first_imgTsabeng Nthite – South Africa will be hosting the annual Africa Communications Week (ACW) from 21 – 25 May 2018.Africa Communications Week is an annual global campaign, open to communications professionals with an African focus/expertise. ACW’s mission is to empower and equip Africa focused communications professionals with the tools and resources to change the current narratives about Africa. ACW also aims to promote knowledge and professional development by hosting informative webinars and masterclasses, as well as providing practical tools on how Africa focused communicators can begin to advance more realistic narratives about Africa.  Hosted by PR Trendz ZA the South African edition of ACW will take place on Tuesday, 22 May and Friday, 25 May in Johannesburg and Cape Town under the theme ‘Telling a balanced South African narrative: Trends and Insights’. Nelisa Ngqulana, Managing Director of PR Trends ZA said: “The South African edition of ACW is a learning event that will bring together communications practitioners across all sectors, encouraging the sharing of lessons and insights and growing networks of collaboration with to ensure that we are constantly up to date with the practice of communications trends.” Co-Founder of the ACW Annie Mutamba said: “There are too many communication professionals working in isolation, trying to challenge the current narratives about Africa. Africa Communications Week seeks to build bridges between forward-thinking communicators.” “Africa focused communications professionals have a strategic role to play, in taking ownership of the African narrative and shaping the conversations, stories, and policies of their organisations, governments and culture,” added Eniola Harrison, Co-Founder ACW. The  event will feature a lecture sponsored by the IE business school on ‘What we can learn from South American communications campaigns. The main issue for this event is to bring Communications practitioners across industries together, to learn, network and collaborate. With the aim of contributing to the bigger narrative around the Nation Brand of South Africa. Follow the conversation on: #AfricaCommsWeeklast_img read more