FHA Introduces Lender Evaluation Metric to Expand Credit Access

first_img August 17, 2015 1,985 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago FHA Introduces Lender Evaluation Metric to Expand Credit Access in Daily Dose, Featured, Government, News Tagged with: Federal Housing Administration FHA FHA-Approved Lenders Supplemental Performance Metric The Week Ahead: Nearing the Forbearance Exit 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Previous: The TRID Delay: What it Means for the Industry Now and In the Future Next: DS News Webcast: Tuesday 8/18/2015 Share Save Demand Propels Home Prices Upward 2 days ago The Federal Housing Administration (FHA) announced Monday a new method that will be used to evaluate the lending practices of FHA-approved lenders and help them understand the type of borrowers they are serving.“This is one more tool to help FHA, lenders, and the public, know exactly who we’re serving,” said Ed Golding, principal deputy assistant secretary for housing. “By better understanding FHA’s acceptable risk tolerance levels for a variety of credit scores, lenders will have the confidence to lend more broadly and FHA will have more data on how successful those lenders are.”The new method, FHA’s Supplemental Performance Metric will work jointly with the agency’s existing ‘compare ratio’ and offer different insight into a lender’s specific performance while encouraging lenders to serve eligible borrowers that are not necessarily credit worthy.FHA lenders will be able to see the impact of their business at all ends of the credit spectrum with the new supplemental performance metric, the FHA says. This will fall in line with the FHA’s willingness to insure loans to eligible borrowers with lower credit scores.Currently, the FHA calculates a ‘compare ratio’ for all FHA-approved lenders. This ratio compares a lender’s rate of early defaults and claims for insured single family mortgage loans to other approved lenders in a geographic area. Compare ratios identify lenders with a large amount of default and claim rates compared to their counterparts and which lenders FHA may terminate.The FHA noted that lenders placed concerns about the compare ratio being a comparison to one’s peers rather than to FHA’s risk tolerance, which the Supplemental Performance Metric responded to.The metric, along with the compare ratio, provides a more granular, nuanced look at lender performance by measuring default rates and claims in three distinct credit bands. Additionally, lenders will have a better understanding of who they are serving, according to the announcement.In May 2014, FHA proposed the development of a Supplemental Performance Metric—one component of FHA’s Blueprint for Access to Credit initiative, an effort to expand access to mortgage credit to underserved borrowers.This new complementary metric was made available at end of the July 2015 in FHA’s Neighborhood Watch Early Warning System. The new metric is designed to help mitigate adverse selection of borrowers with certain credit profiles and encourage the extension of homeownership opportunities to underserved segments of the market. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribecenter_img Sign up for DS News Daily Related Articles Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Federal Housing Administration FHA FHA-Approved Lenders Supplemental Performance Metric 2015-08-17 Brian Honea The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHA Introduces Lender Evaluation Metric to Expand Credit Access About Author: Xhevrije Westlast_img read more

DS News Webcast: Friday 8/19/2016

first_img Demand Propels Home Prices Upward 2 days ago in Featured, Media, Webcasts DS News Webcast: Friday 8/19/2016 Is Rise in Forbearance Volume Cause for Concern? 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2016-08-18 Brian Honea Home / Featured / DS News Webcast: Friday 8/19/2016 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. Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Savecenter_img The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Unemployment dropped by 4 thousand claims last week, though claims were still up slightly compared to a month prior, according to U.S. Department of Labor. The D O L ’s latest weekly report on unemployment claims found 2 hundred 62 thousand claims for the week ending August 13. This marks the 76th consecutive week of initial claims below 300 thousand, the longest streak since 1970.The advance seasonally adjusted insured unemployment rate was 1 point 6 percent for the week ending August 6, unchanged from the previous week’s unrevised rate. The 4-week moving average was 2 point 155 million, an increase of 10 thousand 750 from the previous week’s revised average. Unadjusted, the advance number of actual initial claims under state programs totaled 219 thousand 544 in the week ending August 13, a decrease of 5 point 2 percent from the previous week. There were 229 thousand 251 initial claims in the comparable week of 2015.U.S. Housing and Urban Development Secretary Julián Castro recently announced that the U.S. Department of Housing and Urban Development will quickly provide federal disaster assistance to the State of Louisiana as well as provide support to homeowners and low-income renters forced from their homes due to severe storms and flooding. Specifically, HUD is granting immediate foreclosure relief to these homeowners. Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: State of Default Servicing Covered in Five Star White Paper Next: Is the Fixing and Flipping Market Cooling? August 18, 2016 1,198 Views Subscribelast_img read more

Creating Networks to Battle Criminal Organizations

first_imgBy Geraldine Cook/Diálogo April 17, 2017 Saludos cordiales. Deseo saber si ustedes distribuyen su revista vìa electrónica. Muchas gracias. While tourists in Bridgetown, Barbados, enjoyed the white sandy beaches, warm blue waters, and bright orange sunsets, a group of more than 80 Caribbean military and police professionals debated on transnational security threats with security and defense experts. Criminal networks undermine economic stability and security in the region, thereby posing a risk to tourism, one of the region’s main industries. To address this concern, the William J. Perry Center for Hemispheric Defense Studies and the Regional Security System (RSS) held the “Caribbean Regional Seminar on Countering Transregional-Transnational Threat Networks (T3N)”, March 21st-23rd. Participants from Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, and the United States were in attendance. Subject matter expert lectures and interactive panel presentations were part of the event’s agenda, which focused on the convergence of terrorism and crime, illicit networks in the Caribbean, interagency and regional cooperation, cyber security, and the promotion of inclusive security in the Americas. Assistants also discussed strategies and policies to help them counter security problems. “We are now trying to address how the international criminal networks are connected,” said U.S. Air Force Brigadier General Todd McCubbin, deputy director of Operations (J3) of U.S. Southern Command (SOUTHCOM), during his opening remarks. “For years we were focused on commodities (drugs, human trafficking, arms, etc.), but now we need to attack and stop their networks, regardless of the commodity.” In order to stop illegal networks, Brig. Gen. McCubbin added, they must find the financial resources. “Financial motivation is an indicator that links almost all the illegal networks.” During his speech, he invited everyone to work together to eliminate regional security threats. The leaders of Caribbean partner nations know they can’t fight alone. “Transnational threats are migrating freely across our porous borders,” said Colonel Glyne Grannum, chief of staff and commander of the Barbados Defence Force. At his inaugural address, Col. Glynne urged participants “to meet, exchange ideas, policies, and strategies to counter the T3N.” Mutual threats “The threat is transregional and transnational, and we cannot deal with these issues alone,” said Jullian Lovell, director of Guyana’s National Intelligence and Security Agency. “Certainly, collaborating with others is our goal moving forward. It’s collaboration or die.” The multidimensional and multifaceted nature of risks and threats faced by the Caribbean nations brought the region together under the Caribbean Community (CARICOM) Implementation Agency for Crime and Security (IMPACS), the goal of which is to improve citizen security. “It is very important that IMPACS is here,” said Joseph Callixtus, coordinator of the Regional Crime and Security Strategy of CARICOM IMPACS. “We need to enhance our information intelligence sharing, and we are getting closer with our cooperating and supporting partners in particular, the United States.” According to Callixtus, the only way the region can move ahead countering T3N is working together in an organized and unified way. “We have similar issues,” said Titania Ward, Strategic Intelligence Technical Advisor of the Jamaican Ministry of National Security. “We don’t have resources, and we need to train our law enforcement; we have gangs for drugs trade, lottery scamming, and electronic frauds.” Ward considered the seminar a great forum to share regional challenges, but also a good framework from which to build new networks for sharing intelligence and information across their islands since T3N are exploiting the region’s maritime space as they move weapons, drugs, and people illegally. “Our borders, like most of the countries in the Caribbean, are very porous,” stated Command Chief Petty Officer Wood Oral of the Bahamas Defence Force, emphasizing the importance of regional cooperation in preventing security threats rather than fighting it alone. Cybercrime and new technologies were also addressed at the seminar. “We are looking at the issues of terrorist and cybercrime to deal with,” said Captain Errington Shurland, director of the RSS. “We want to create a new system of digital investigation and are also looking at the merging of progressive challenges in cybercrime.” Regional cooperation “It is very important for Haiti to participate in this seminar because all countries in the region are facing the same threats,” said Justin Mark, commissioner of Haiti’s National Police. “We are here to learn and to share best practices, to find, decide, and to elaborate on new strategies to better tackle those threats.” In his opinion, the security strategy must reinforce the collaboration and cooperation among countries. “Without the cooperation, we can’t face those problems; they are far beyond one single country’s capacity,” affirmed Mark. “One country alone can’t deal with drug trafficking as [criminals] are networking. We need to create networks to fight against them; it’s networks against networks.” Other participants expressed that the fight against T3N cannot wait any longer. “We have to coordinate all efforts to make the Caribbean safer,” said Richmond Valentine, superintendent of Dominica’s Police Force. “Our countries must understand the threats we are facing and use our wisdom and resources to collaborate.” Promoting inclusive security On the third day of the seminar, the question, “Why are women a factor in inclusive security?” was introduced to a panel on promoting inclusive security in the Americas. “It’s time for a new approach to security,” replied Doctor Kai-Ann Skeete, Trade Research Fellow at the University of the West Indies in Barbados and one of the panelists. “A lot of our security threats are unconventional, untraditional, and they take multidimensional thinking… This nontraditional approach must involve females. Women have certain mediation skills that we can best utilize in security.” The inclusion of the topic was timely. “This is making history for us. We are creating room for our women to go further,” added Dr. Skeete, affirming that women need to be more involved in the decision-making process. The next step, she added, is to keep building capacity and changing the mindset of the male dominated armed forces environment. After three days of discussions, participants were more convinced of the need to create stronger regional bonds to defeat T3N. They vowed to work closer together to achieve regional security and not compromise the perception that the Caribbean is a safe tourist destination. “We need to quickly adapt our networks to go against these global challenges we all face,” concluded Brig. Gen. McCubbin in his final remarks.last_img read more

Warriors’ big man Jordan Bell finds redemption in win over Pacers

first_img(CLICK HERE, if you are unable to view this photo gallery on your mobile device.)Throughout his basketball career, Jordan Bell has played every important minute for his team.As a prep star at Long Beach Poly High School, he was a highly touted prospect. At the University of Oregon, he a was a three-year starter, reaching the Final Four in his junior season. Now, in his second year with the Warriors, Bell, who finished Monday’s 132-100 win over the Pacers with eight points, five …last_img read more

Malunga follows the music

first_imgA classically trained pianist and cellist who has put in years as an entertainment lawyer, Unathi Malunga is adding new notes to her score. She is studying orchestral conducting, and plans to be the first black African woman to conduct a professional orchestra. Unathi Malunga found success as an entertainment lawyer, now she is working to be one of a handful of women orchestral conductors. (Image: Gavin van Haght) • Art helps children paint a better future• Bringing music to the youth• The joy of music reigns in Kinshasa’s veins • Luthando Jackson is a mini music maestro• A Pretty amazing talent Sulaiman PhilipThere is a photograph of Unathi Malunga, taken on a plane, the score of the Magic Flute open in the cramped space between rows of seats. She is conducting an orchestra only she can hear. It captures so much of who she is: committed, enthusiastic, passionate and engaged, but most of all, a dreamer.Her laugh is musical, charming and self-effacing. “It’s a skill a conductor needs,” she says, “to be able to read the music notes, musical line and know what it will sound like. I can hear the music when I read a score. I can auralise it, hear the whole orchestra in my head.”Malunga will become the first black African woman to complete the orchestral conducting course at Stellenbosch University. She is on track to become one of the few female conductors and, as far as we know, the first black woman to join the ranks of professional orchestral conductors.Conducting an orchestra is about leading a team. It is the art of combining the interpretation and experience of many musicians, guiding that diversity to create a single harmonised experience. “What turns a score into a performance is not the notes. It’s the shaping of the notes. Do you want to highlight the call and answer between the flute and the clarinet? The musicians can play the notes; it’s the conductor who has a vision of how a particular performance should be interpreted, how to make it beautiful. It’s about that team making the music.”Her personal story is a compelling one. In front of our bedroom mirrors is where most people’s musical dreams begin. It is also where they usually fade. Not for Malunga, whose mother chose the schools she attended based on their ability to nurture her musical ambitions. She is a classically trained cellist and pianist, but she found success as an entertainment lawyer before answering the call to return to music.Malunga began playing classical piano at six, the cello a little later, and knew early on that classical orchestral music was always going to be an important part of her life. “I love the way instruments blend together. I love the way composers blend instruments. I just love the sound those instruments make.”It was always in her, this love of classical music. And she says it has everything to do with being exposed to it from an early age, and the way that the music is able to touch on eternal themes such as love, friendship and tragedy.She – and she laughs as she says it – bought into the myth of the starving artist. After finishing matric (with two music subjects, subject music and cello performance) she chose to study law at Rhodes. “I’m ashamed to say I bought into the starving artist myth. I chose law and entertainment law was the perfect way of blending the two.”Despite success as a lawyer – she worked on the opening and closing ceremony of the 2010 World Cup, on the African Union 50th celebrations and the movie Blood Diamond– she was beginning to find music more compelling than the law, a score more interesting than a statute. Music, she says, is visceral. You can touch the emotion.Something was missing from her life. “My friends were saying it was babies and I would say ‘No, it’s not that.’ It was music that was missing in my life. That was the call that was growing stronger every day.”Malunga went back to Rhodes to study music education and to retrain what she calls her ear, although she points out that she did not retrain her ear at Rhodes. “I’m retraining my ear now at Stellenbosch.” It is a most important tool for any musician. One of her electives was conducting, which is when her path became clear.She wants to be the first black African woman to conduct a professional orchestra, but would be just as pleased if another stole a march on her. She speaks passionately about widening the audience for classical music, about diversifying the voices and widening the conversation about its place in society. She wants to prove it’s not an exclusive, restricted club.She mentions a recent, well-supported performance by renowned soprano Pretty Yende sponsored by Wiphold (Women’s Investment Portfolio Holdings Limited), the many orchestral programmes run in townships and the classical music heritage of some black families such as the Nkuna and Masote families. There have always been black people who have loved classical music.“I mentor young black women as an entertainment lawyer – not past tense! I still am one – women who now have someone to show them the way. I have seen the hunger. I have seen what it means to have someone show you it’s possible. So if I am the first black African woman conductor, great; if not, at least my journey, and it has been a painful personal journey, shows other women it is possible.”One day, Malunga hopes she will get to conduct all the Beethoven symphonies – there are nine of them and just over six hours of music. Along the way she will discover new composers and be reminded old favourites. She will still continue to jive to kwaito or Motown, but it’s not the kind of music that really moves her. Asked whether she “sees the music” when listening to other genres, she answers: “I don’t see the music; I just feel the beat. It doesn’t get into my soul. It has purely entertainment value for me.”Not like orchestral music. When they fly, when they take off together, an orchestra is truly moving. “I had to make choices when I was growing up. While my friends played, I practised. As a child it’s difficult to see the end result of that sacrifice, but I see it now. And I wouldn’t change anything.”last_img read more

Farm Bureau committee lays groundwork for future policy votes

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Twenty Ohio Farm Bureau leaders are serving on the 2019 Ohio Farm Bureau Federation Policy Development Committee. The committee collects and organizes public policy recommendations from county Farm Bureaus and presents the final policy suggestions to be voted on by Ohio Farm Bureau’s delegates during the state annual meeting in December.In its initial session, the committee heard from government leaders, subject matter experts and Farm Bureau staff on topics such as climate change, mental health, water quality initiatives, farm leases, trade, risk management, foreign ownership in U.S. agriculture, education, school funding and rural broadband.The policy committee consists of 10 members from Ohio Farm Bureau’s board of trustees and 10 representatives of county Farm Bureaus.The committee is chaired by Ohio Farm Bureau First Vice President Bill Patterson of Chesterland and includes OFBF President Frank Burkett III of Massillon and Treasurer Cy Prettyman of New Bloomington. State trustees on the committee are Matt Bell of Zanesville, Mike Bensman of Sidney, Mike Boyert of Seville, Jenny Cox of Dresden, Paul Harrison of Fostoria, Rose Hartschuh of Sycamore and Chris Weaver of Lyons.County Farm Bureau representatives are Glen Arnold of Putnam County, Amanda Badger of Preble County, Veronica Boysel of Franklin County, Steve Brunner of Pike County, Danielle Burch of Columbiana County, Robert Buxton of Coshocton County, Robert Hange of Wayne County, Dale Hulit of Richland County, Gene McCurdy of Delaware County and Steven Wickersham of Marion County.last_img read more

Rain-related toll in Rajasthan touches 22

first_imgThe toll in rain-related incidents in Rajasthan touched 22 on Sunday with nine more causalities reported from various parts of the State as Kota and its nearby areas faced flood-like situation due to heavy rain since Saturday night. An elderly woman died in Bhilwara after the roof of her house collapsed, while a man was swept away in a swollen drain and three boys were drowned in another drain in Pali, an official said.Boys drown In Bundi, a 17-year-old boy was drowned in a drain. In Jaipur’s Sanganer area, two boys drowned in a waterbody while one death was also reported from Jodhpur, the official said. Kota is the worst-affected district in the State, where nearly 250 people living in low-lying areas were shifted to safer places by SDRF teams. “Many colonies are inundated. The trapped residents have been shifted to safer places,” Kota District Collector Muktanand Agrawal said. Relief Secretary Ashotosh Pednekar said with nine more deaths in different districts, the toll in rain-related incidents had increased to 22. Kota recorded the maximum 151.8 mm of rainfall till Sunday morning while Sawaimadhopur registered 68 mm of rainfall. Heavy rain occurred in isolated parts of the State, including Bundi, till this morning since Saturday, the meteorological department said. Jodhpur, Jaipur, Bikaner, Ajmer, Ganganagar, Kota registered 113.8 mm, 19.1 mm, 11.7 mm, 10 mm, 9.4 mm and 6.6 mm of rainfall respectively on Sunday. The weatherman has predicted heavy to extremely heavy rain in isolated places of the State till Monday.last_img read more

Justice Minister Wants Cases Tried in Timely Manner

first_img Minister of Justice, Hon. Delroy Chuck, says all stakeholders in the justice system have a duty to reflect on their role as they seek to improve both their performance and input in the delivery of justice.Addressing the Jamaican Bar Association’s annual conference at the Half Moon Hotel in Rose Hall, St. James, on November 18, Mr. Chuck said it is important to have cases tried and judgements rendered in a timely manner, adding that the people of the country expect and deserve nothing less.“Six months is a reasonable time within which judgements should be delivered. Indeed, the Jamaica Judicial Conduct Guidelines (2014), which sets out the ethical guidance for judges, recommends three months as the period within which judgement should be delivered. It seems obvious and highly desirable that judgements should be delivered promptly,” the Minister said.The Minister argued that for the Judge, after a trial, the material is fresh in his or her mind, and delays dim the memories of the arguments made at trial.“Prolonged delays, in my opinion, affect the accuracy and judgement of witnesses’ demeanour and, thus, the final decision,” Mr. Chuck said.“I think it is highly desirable for judges to deliver oral judgements within days of the completion of trials and, if necessary, an edited and written judgement within weeks,” he added.Mr. Chuck said that in complex cases, more time may be needed for the judges to read and digest the many cases usually relied on at trial, adding that greater reliance on technology and the requirement for detailed arguments delivered electronically, should help in this process.“Judges could also insist that trial attorneys provide written arguments and relevant passages from cases they quote during the trial. Perhaps if judges demand from the attorneys better particulars and written submissions, it would become easier to deliver judgements,” he reasoned.The Minister said the present situation cannot continue, with litigants having to wait years for the trials, as it is “simply frustrating and grossly disappointing for them to wait months and years to have judgements delivered”.“At the end of 2015, there were 311 Supreme Court matters with outstanding judgements. I hope the information for 2016 and 2017 will show significant reductions,” Mr. Chuck said.The Minister noted that other jurisdictions have enacted legislation to determine time standards and other judicial functions, going as far as withholding salary and pension, to get judgements delivered.“I honestly do not wish to see Jamaica go there. I shall continue to use moral suasion to urge the timely delivery of judgements, and hope that I will see less complaint letters coming across my desk on a daily basis,” Mr. Chuck added.The Minister said he will continue to ask the Jamaican Bar Association to provide a full list of judgements outstanding for more than six months, so the Chief Justice and others can be reminded of the extent and impact of the prolonged delays. Minister of Justice, Hon. Delroy Chuck, says all stakeholders in the justice system have a duty to reflect on their role as they seek to improve both their performance and input in the delivery of justice. “Six months is a reasonable time within which judgements should be delivered. Indeed, the Jamaica Judicial Conduct Guidelines (2014), which sets out the ethical guidance for judges, recommends three months as the period within which judgement should be delivered. It seems obvious and highly desirable that judgements should be delivered promptly,” the Minister said. Mr. Chuck said that in complex cases, more time may be needed for the judges to read and digest the many cases usually relied on at trial, adding that greater reliance on technology and the requirement for detailed arguments delivered electronically, should help in this process. Story Highlightslast_img read more