Freddie Mac Offering Four NPL Pools Totaling $624 Million in UPB

first_img About Author: Brian Honea July 8, 2015 999 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: GSEs Partner With Industry to Form Advisory Group For Common Securitization Platform Next: Agencies Publish Annual List of Nonmetropolitan Distressed and Underserved Areas Home / Daily Dose / Freddie Mac Offering Four NPL Pools Totaling $624 Million in UPB Demand Propels Home Prices Upward 2 days ago  Print This Post Share Save Deeply Delinquent Loans Extended Timeline Pool Offerings Freddie Mac Non-Performing Loans Standard Pool Offerings 2015-07-08 Brian Honea Demand Propels Home Prices Upward 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. Freddie Mac Offering Four NPL Pools Totaling $624 Million in UPB Subscribe Sign up for DS News Daily center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Deeply Delinquent Loans Extended Timeline Pool Offerings Freddie Mac Non-Performing Loans Standard Pool Offerings The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News, Secondary Market Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Freddie Mac is offering $624.1 million worth of non-performing loans (NPLs) for sale in four pools in an auction of deeply delinquent loans from its mortgage investment portfolio, according to an announcement from the GSE on Wednesday.Three of the pools of loans are Standard Pool Offerings (SPOs), which total about $600.2 million. One of the pools is an Extended Timeline Pool Offering (EXPO) that includes NPLs 100 percent concentrated in Cook County, Illinois, and serviced by CitiMortgage Inc. The total in unpaid principal balance of the EXPO is $23.9 million.Potential bidders must be approved by Freddie Mac to access the secure data room that contains information on the NPLs and allows them to bid on the NPLs. Winning bidders and their servicers must meet the Federal Housing Finance Agency (FHFA)’s NPL sale guidelines 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.FHFA, Freddie Mac’s conservator, stated in its 2014 Report to Congress released in June that “FHFA’s expectation is that the sale of seriously delinquent loans through non-performing loan sales will result in more favorable outcomes for borrowers, while also reducing losses to the Enterprises, and, therefore, to taxpayers.”Freddie Mac encourages all eligible bidders to bid, including private investors, minority- and women-owned businesses, non-profits, and neighborhood advocacy funds. The deadline for qualified bidders to submit bids for the SPOs is July 28, 2015, and the deadline for bidding on the EXPO is August 18, 2015. According to Freddie Mac, the winning bidder will be determined on the basis of economics, subject to meeting the GSE’s internal reserve levels.According to Freddie Mac, advisors for the transaction are Citigroup Global Markets, Credit Suisse Securities, and The Williams Capital Group, an MWOB.Freddie Mac completed its first auction of an EXPO in June when it sold 157 deeply delinquent loans for a total of $31 million in UPB. The winning bidder was Corona Asset Management XII. EXPOs differ from Freddie Mac’s SPOs in that the loans include smaller pool sizes and a longer marketing period. Freddie Mac is targeting smaller investors with its EXPO auctions, which are intended to give these investors extra time to secure funding to participate in the NPL sales.Freddie Mac’s last SPO NPL transaction took place in late May. That SPO NPL transaction was Freddie Mac’s third of 2015 and fourth overall since the first sale occurred in July 2014. The four NPL transactions have totaled approximately $2.17 billion in UPB. Related Articleslast_img read more

Checklists in operating rooms improve performance during crises

first_img Read Full Story In an airplane crisis—an engine failure, a fire—pilots pull out a checklist to help with their decision-making. But in an operating room crisis—massive bleeding, a patient’s heart stops—surgical teams don’t. Given the complexity of judgment and circumstances, standard practice is for teams to use memory alone. In a new study published in the January 17 issue of the New England Journal of Medicine, however, researchers at Ariadne Labs, a joint center for health system innovation at Brigham and Women’s Hospital and Harvard School of Public Health, have found that teams using checklists have markedly better safety performance. Specifically, the research shows that clinicians provided with checklists in a novel study using advanced simulation of surgical crises were three-fourths less likely to miss key life-saving steps in care.With many surgical procedures happening simultaneously and around the clock in a hospital setting, crises in operating rooms occur frequently; however, for individual clinicians, these incidents are rare. These high-risk, stressful events require rapid, coordinated care, and failure to rescue surgical patients who have life-threatening complications is the largest source of differences in rates of surgical death between hospitals. Researchers report that the failure rate for performing life-saving processes of care dropped from 23 percent to 6 percent during simulations when checklists were available.last_img read more

Bacolod cop faces raps for inmate’s escape

first_imgMajor Sherlock Gabana, Polilce Station 2 chief, said Brisuela used a wood covered with cloth to cut a portion of the jail’s steel bar to escape from the detention cell. Dela Raya was on duty when 36-year-old James Brisuela of Barangay 3, an illegal drug suspect, fled the facility around 3:40 a.m. Brisuela was previously arrested for an illegal drug offense on May 4. He requested to be placed under the custody of Police Station 1 because of fear from his co-detainees at Police Station 2, following his escape. Police Staff Sergeant Luduvico Dela Raya, duty jailer of the said police station, was charged for the offense before the City Prosecutor’s Office. He posted an P18,500 bail bond for his temporary liberty.  Brisuela surrendered to Colonel Henry Biñas, Bacolod City Police Office director, the following day, through the help of a local radio station.center_img BACOLOD City – A police officer here was criminally charged for evasion through negligence following Friday’s predawn escape of a detainee from the lockup facility of Police Station 2. Biñas said that Dela Raya and other duty personnel at the time, including Gabana will be subject to investigation. “Gabana is part of the investigation kag kon makita nga nagpabaya sya, he will be liable. We have to investigate what was Gabana has been before and after the incident knowing that he has so much accomplishments in his work resulting to the apprehension of big amount of illegal drugs,” Biñas added./PNlast_img read more

Wenger hails Gnabry talent

first_imgArsene Wenger believes he has unearthed another Arsenal gem in Serge Gnabry. Gnabry’s goal made him Arsenal’s second-youngest Premier League goalscorer – Cesc Fabregas being the youngest. Gnabry may have a long way to go before he can be compared to players of Fabregas’ calibre, but Wenger has been very impressed by the way the teenager, who was just 14 months old when the Frenchman took charge of Arsenal, has contributed. “He is surprising,” Wenger said. “He has the talent, but he has the personality on the pitch as well. “He doesn’t look timid, he looks to play with belief and, of course, talent. “Unfortunately he is another player for Germany, he’s not English. “He was one-year-old when I came to Arsenal, I can’t believe it. Now I have some players in my squad who were not born when I arrived at Arsenal. “The two players who scored (Gnabry and Aaron Ramsey) have a combined age of 40.” Although Swansea boss Michael Laudrup was disappointed at how a lack of composure had cost his side dearly in the second half, he did reserve particular praise for a young talent of his own in left-back Ben Davies. The 20-year-old was the best player on the field in a white shirt, and scored his side’s goal after linking up well with Wilfried Bony. The Wales international has picked up where he left off after an excellent first season of senior football, and Laudrup said: “It was great to see. He is a young player who is still coming forward and gaining experience. “He’s a good boy, who is very intelligent as well. It’s good to see players like that.” Swansea have already faced Manchester United, Tottenham, Liverpool and Arsenal so far this season, meaning Laudrup is better placed than most to assess the strengths and weaknesses of the title contenders. But he believes it is far too early to try to predict if Arsenal have what it takes to still be on top of the pile come mid-May. “I don’t know if they are title contenders, there have been some surprise results this weekend,” he said. “Manchester United lost to West Brom and Manchester City have lost two games away to Aston Villa and Cardiff. “So Arsenal and Tottenham are on top, but there are 32 games to play. But no-one can take what you already have on the board away from you.” The 18-year-old German scored his first senior Gunners goal in Saturday’s 2-1 Barclays Premier League win at Swansea, and his pace and trickery proved a constant thorn in the side of the home defence. During his 17-year stint in charge of Arsenal, Wenger has been renowned for his ability to develop young players into first-team regulars. Press Associationlast_img read more