Non-Prime Programs Make a Comeback

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily 2016-09-16 Scott Morgan Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Non-Prime Programs Make a Comeback Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Scott Morgan Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 16, 2016 1,180 Views Share Save Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. The Week Ahead: Nearing the Forbearance Exit 2 days ago The private label securitization market and the industry’s response to crisis after 2008 failed, but “the tide appears to be turning quickly,” according to Kroll Bond Rating Agency. Kroll stated Friday that it has observed the re-emergence of more than a dozen non-prime mortgage origination programs that use securitization as a funding source as the U.S. economy wobbles back toward health.Kroll’s latest report, titled “Credit Evolution: Non-Prime Isn’t Yesterday’s Subprime” stated that today’s non-prime programs are “not a simple rebranding of pre-crisis subprime origination, nor do they signal a return to the documentation excesses associated with ‘liar loans.’” Rather, the asset class meant to serve those with not-pristine credit often has characteristics reminiscent of legacy Alt-A. The asset class is, Kroll said, expansive.“Underwriting practices have been heavily influenced by today’s consumer-focused regulatory environment and government-sponsored entity origination guidelines,” Kroll reported.Kroll’s evaluation of these new non-prime programs compelled the agency to recommend specific actions from market participants. First, loans originated under sound compliance with ability-to-repay rules should be outperforming 2005-2007 vintage loans with similar credit parameters. These include LTV and borrower FICO scores. The ability-to-repay rules have, Kroll said, strengthened underwriting, “which should bode well for originations across the MBS space. This is particularly true of non-prime loans, where differences in origination practices can have a greater influence on future loan performance.”Second, loans that fail to adhere to GSE guidelines for bankruptcy and foreclosure on a borrower’s credit history “should be viewed as having increased credit risk relative to those with similar credit profiles that lack recent disposition activity,” the report stated. Third, Kroll advocates viewing alternative documentation programs, particularly those that serve borrowers with sub-prime credit histories, with skepticism.“Although many programs will meet technical requirements for income verification,” the report stated, “it is also important to demonstrate good faith in determining a borrower’s ability-to-repay. Failure to do so may not only result in poor credit performance, but increased risk of assignee liability.”Lastly, Kroll warned that investor programs that rely on anticipated rental income and limited documentation may be riskier than fully documented investor loans for which the borrower’s income and debt profile are considered.We believe that non-prime securitizations can achieve high investment grade ratings,” the report stated. “The analysis will, however, entail the careful consideration of product-specific risks that can impact future loan performance, and the presence of any mitigating factors.”Click here to view the entire KBRA report. Servicers Navigate the Post-Pandemic World 2 days ago Non-Prime Programs Make a Comeback Related Articles in Daily Dose, Featured, News Previous: Income Growth Outpacing Home Prices In Poorer Cities Next: The Week Ahead: A Tale of Two Housing Markets Subscribelast_img read more

Tottenham-linked Real Madrid star going nowhere this summer, insists agent

first_imgMateo Kovacic’s agent insists he is baffled by suggestions his client is set to leave Real Madrid this summer, amid reported interest from Tottenham.The Croatia international has been linked with leaving the Spanish giants during the forthcoming summer transfer window, with speculation reporting he is considering a move to Tottenham, AC Milan or Roma.Kovacic has struggled to feature on a regular basis under Zinedine Zindane, having to contend with a place on the Madrid bench for much of the campaign, fuelling speculation of an imminent exit.But the midfielder’s agent, Nikky Vuksan, has dismissed talk his client will leave despite making just five starts in Real Madrid’s last 14 La Liga games.“There is not any news. Or rather, there are no chances that this will be possible,” Vuksan said when asked about a potential return to Serie A by Tutto Mercato.“Mateo has a very long contract with Real Madrid, which runs until 2021.“So I do not understand all these rumours, all this speculation about his future.” 1 Mateo Kovacic on the ball for Real Madrid last_img read more

SA business climate ‘favourable’

first_img15 December 2005A joint survey by the World Bank and Department of Trade and Industry has found the investment climate of South Africa to be “favourable” in comparison to that of other African countries, and other middle-income countries throughout the world.Conducted by Cape Town-based Citizen Surveys, the survey asked 800 South African enterprises to assess specific factors that shape opportunities and incentives for firms to invest productively, create jobs, and grow. These were benchmarked against countries at the same level of development, such as Malaysia, Kenya, Brazil, Poland and China.“On many dimensions, South Africa has a good investment climate,” the World Bank said. Legal protection of property, labour productivity, low tax rates, reasonable regulation, a low level of corruption and good access to credit were seen as factors contributing to the country’s investment climate.But challenges remain.“Firms appear to be particularly concerned about at least four areas: skills and education of workers, labour regulation, exchange rate instability, and crime,” said Vijaya Ramachandran, a World Bank enterprise development specialist.“These are problem areas the government is aware of and has already targeted in its overall development planning.”Property, power and productivityAccording to the survey, most firms believe the courts in South Africa are able to protect their property rights and court cases are quickly resolved.Losses to power outages in South Africa were modest in 2004, and the cost of power low by international standards. The country’s tax rates are low and have been declining over time. Although the burden of regulation is not particularly low, it is comparable to that in most middle-income countries.Few firms reported paying bribes to get government services or win contracts in South Africa. And most of the large formal firms in the survey did not see access to finance as a serious concern, with few reporting that they were credit constrained.South African firms were found to be more productive than those in other countries where World Bank surveys have been conducted. According to the survey, the country’s labour productivity is far higher than in Senegal and Kenya, the most productive low-income countries in sub-Saharan Africa.Labour productivity is higher in South Africa than elsewhere in Africa and is higher than, or comparable to, other middle-income economies and the most productive areas of China. (Source: World Bank)South Africa’s labour productivity also compared favourably with other middle-income countries such as Lithuania, Brazil, Poland, and Malaysia – all of which, other than Brazil, have higher per capita income. Productivity was also found to be over three times higher than in China, although slightly lower than in the most productive cities in that country.The challenges“Although the investment climate for large formal firms in South Africa appears favourable in many ways, some challenges remain,” said Ritva Reinikka, the World Bank country director for South Africa.“Wages for managers, professionals, and skilled workers are high by international standards, eroding South Africa’s competitiveness. Exchange rate volatility makes exporting difficult – and yet for a high growth rate exports are critical.”The survey found that while the cost of crime in South Africa is lower than in the worst performing middle-income economies, it remains higher than in many of the country’s competitors.“Addressing these issues will help towards achieving the target growth rate of 6% per annum to stimulate development and job creation,” Reinikka said.Labour costs and skills Most managers said worker skills were a serious obstacle to their operations and to growth. Despite South Africa’s greater productivity, the cost of labour is high – over three and half times that of the most productive areas of China, two and half times higher than in Brazil and Lithuania, and 75% higher than in Malaysia or Poland.Wages are particularly high for highly skilled workers and managers. An additional year of education is associated with an 11% to 12% increase in wages in South Africa – compared to about 5% to 7% in developed countries.The premium paid for education results in salaries for skilled workers and managers that are high by international standards. Although wages are similar for unskilled workers in Poland, managers’ wages are over two and a half times as high in South Africa.Labour regulationAccording to the World Bank, rigid labour regulations can discourage the hiring of new workers and slow employment growth. Close to a third of surveyed managers said labour regulations were a problem. Labour regulation is more rigid in South Africa than it is in many other middle income countries, the World Bank says.In the most recent global Doing Business report, a World Bank report that compares the burden of regulation across countries, South Africa ranked 28th in the world overall – higher than many developed economies. But in the areas of regulations related to hiring and firing workers, South Africa ranked 66th.Exchange rate Despite South Africa’s relatively strong macroeconomic performance – GDP growth and moderate inflation – about a third of managers said macroeconomic instability was a serious problem. This is due to exchange rate instability. This is particularly problematic for exporters, who are paid in dollars or euros, but must pay their workers and suppliers in rands.Close to three-quarters of enterprises that export to the US – the country whose currency has been most unstable against the rand – rated macroeconomic instability as a serious obstacle.CrimeEnterprises in South Africa also rated crime as a major problem. Direct losses to crime and the cost of security were found to be higher in South Africa than they are in other middle income countries such as China, Poland, Brazil and even Russia.Although this suggests that crime is a serious concern in South Africa, it was found to be less problematic than in the middle-income countries of Honduras, Guatemala, Nicaragua or Ecuador.Download South Africa: an Assessment of the Investment Climate in PDF format from the World Bank website.SouthAfrica.info reporterlast_img read more

Baba Ramdev’s movement mobilises wide political support

first_imgAmidst high drama that took place in the heart of the capital on Monday, Baba Ramdev while leading a big march to Parliament to push his demand for bringing back black money stashed abroad gave a clarion call to oppose the Congress in the 2014 polls.Although Ramdev was arrested and let off later, he announced his decision to stay put at the detention venue to continue his peaceful agitation against the government. His campaign also got a big fillip with various political parties, including many supporting the government, coming out in open support.Proceeding to parliament, Ramdev hitting out at the Congress said it was the only party not supporting his fight for bringing back black money and it should not get support of people. “I will tell (before 2014 polls) whom to elect and whom to defeat,” Ramdev said.Before Ramdev’s march, a host of political leaders joined him at Ramlila Maidan – including Bharatiya Janata Party (BJP) president Nitin Gadkari, Janata Dal-United (JD-U) chief Sharad Yadav, Janata Party chief Subramanian Swamy and some Akali Dal leaders.After speeches slamming the government’s “inaction” on black money, Ramdev, asserting the protest was peaceful, led his tricolour-waving and black bandana-sporting supporters on a march to Parliament House.Security personnel, including paramilitary force personnel, were however present in strength to stop him at Ranjit Singh flyover that leads to Connaught Place in central Delhi.A police official gingerly held Ramdev’s hand to show he was being detained, perhaps keeping in mind the controversy over Delhi Police’s brutal action on his sleeping supporters a year ago in which a woman lost her life.Ramdev had appealed to the government to heed his demands, failing which he would lead a march to Parliament. However, the government remained unmoved and no emissary went to him unlike last year when three senior ministers were sent to the airport to talk to to him.The Congress on Monday hit out at Ramdev and accused him of fighting a “political battle” in the name of campaigning against black money. The issue of black money also echoed in Parliament with the BJP creating a ruckus in the Lok Sabha on the issue, leading to an adjournment of the house.Samajwadi Party chief Mulayam Singh Yadav and BSP supremo Mayawati, addressing reporters outside Parliament, said they would support anyone raising their voice against black money. Biju Janata Dal chief and Odisha Chief Minister Naveen Patnaik too supported Ramdev’s campaign.Ramdev began a three-day symbolic fast on Aug 9 for the return of black money, a strong Lokpal Bill, and a transparent process in naming heads of the Central Bureau of Investigation and the Election Commission. On Saturday evening, he extended his fast and threatened a “revolution” after the government failed to react.With IANS inputsadvertisementlast_img read more

Jawun Evans One of 16 Finalists for USA U19 Roster

first_imgUSA Basketball announced on Monday that they have cut five players from the U-19 tryouts.Oklahoma State’s Jawun Evans is one of 16 finalists remaining on the roster. The 16-man squad will be cut to 12 before traveling to compete in the U19 World Championships in Greece, which begins on June 27th.The finalists are listed below:Jawun Evans, Oklahoma StateJustin Bibbs, So., Virginia TechIsaiah Briscoe, KentuckyJalen Brunson, VillanovaBrekkott Chapman, UtahVince Edwards, PurdueTerrance Ferguson, Class of 2016Harry Giles, Class of 2016Josh Jackson, Class of 2016Riley LaChance, VanderbiltChinanu Onauku, LouisvilleL.J. Peak, GeorgetownCaleb Swanigan, PurdueAllonzo Trier, ArizonaThomas Welsh, UCLAPhoto attribution: On the radar HoopsIf you’re looking for the comments section, it has moved to our forum, The Chamber. You can go there to comment and holler about these articles, specifically in these threads. You can register for a free account right here and will need one to comment.If you’re wondering why we decided to do this, we wrote about that here. Thank you and cheers!last_img read more

Seeking solutions to teen bullying

first_img April 22, 2019 Categories: Local San Diego News, Trending FacebookTwitter Seeking solutions to teen bullying Updated: 8:06 PM Posted: April 22, 2019center_img Sasha Foo 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) – Four teenage defendants were arraigned Monday in Juvenile Court in San Diego in connection with the April 11 beating of another teenager in a Chula Vista taco shop.The attack evidently stemmed from harassment that occurred on social media.Last week, community members rallied to support the 16 year old victim, Paul Martin.In extreme cases that result in physical violence, police and courts have to get involved.Yet, looking at the problem of bullying as a larger social problem, community members, parents and school staff also have a role to play in preventing bullying. Psychologist and parenting expert Reena Patel said by failing to stop the harassing behavior, we are sending the wrong message. “We’re reinforcing those negative and unacceptable behaviors that the bullies are engaging in.” She said that parents need to tell their children that they are resilient and that what is happening to them is not their fault.Chula Vista police chief Roxana Kennedy agreed that parents and school staff need to be actively involved in preventing cyber-bullying. She suggested that parents should learn to intervene by obtaining the passwords for their child’s social media accounts, looking at their posts and becoming more informed. “Teach your kids if someone does bully you, take a screen shot of that. Show it to your parents, your teachers, work with your school resource officers,” Kennedy said.In the case of the attack on Paul Martin, information from the community helped investigators identify and arrest the six suspects.Kennedy suggested greater use of an app called P3 Tips, which allows community members to send anonymous tips to law enforcement.For a child or young person who’s being bullied, speaking out may feel like the last thing they want to do. However, both the psychologist and the police chief said flipping the script is another way to teach a child about empowerment. “Let’s praise you for the effort for standing up and coming forward, and telling and showing and modeling that it’s not acceptable,” Patel said. Sasha Foo, last_img read more