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Expanding Non-Bank Mortgage Institutions and REITs

first_img 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. Expanding Non-Bank Mortgage Institutions and REITs Tagged with: Bank Finance Non-Bank REIT February 4, 2020 1,796 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img in Daily Dose, Featured, News, Secondary Market As the role of non-bank lenders has shifted in the past few years, regulators are considered allowing further growth for these mortgage institutions and real-estate investment trusts (REIT), Wall Street Journal reports.“It’s time to make the system reflect the market that it serves,” said Pete Mills, SVP of residential policy at the Mortgage Bankers Association on WSJ.While some have questioned if nonbanks like REITs should have access to taxpayer-subsidized funding, according to John von Seggern, President of the Council of Federal Home Loan Banks, having big clients gives the system the financial clout it needs to support smaller banks.“We have access to world-wide markets because the big banks give us a lot of volume,” he told WSJ. “We’re able to then take that favorable funding that we get and we’re able to lend it to all of our members, big and small, at the same rate.”Some suggest that REITs make up an optimal backbone for the mortgage market, leveraging less risk than before the financial crisis and able to quickly raise and deploy money when they see an opportunity.“Real estate is protected from volatility by factors like location, scarcity, and plot size,” NuWire states. “But unlike tangible property, which is expensive to buy and tough to sell, REITs can be traded on many investing apps. Because they come in single shares, even low-budget investors can diversify their REIT holdings.”According to WSJ, the proposed expansion of home-loan banks and REITs would run counter to the plan to privatize Fannie Mae and Freddie Mac.“While Fannie and Freddie buy mortgage loans and package them into securities, the Federal Home Loan Banks play a different role in housing finance: channeling money from global bond markets to thousands of institutions across the U.S.,” said WSJ. Previous: FEMA Funding $2M Wildfire Mitigation Program in California Next: Housing Market Could Stave Off Potential Recession The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Expanding Non-Bank Mortgage Institutions and REITs Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Bank Finance Non-Bank REIT 2020-02-04 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Subscribelast_img read more

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Nassau Pols Pitch Dueling Lobbying Disclosure Bills After Skelos Report

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Republican and Democratic Nassau County lawmakers proposed competing lobbying disclosure bills this week, days after news broke that federal authorities are investigating New York State Senate Majority Leader Dean Skelos (R-Rockville Centre) and the business dealings of his son, Adam.On Monday, Nassau County Executive Ed Mangano, a Republican, was first out of the gate with a press release announcing a bill that would require lobbyists for entities seeking contracts with Nassau government to register with the County Attorney “for the first-time in history.” The next day, Nassau Legis. Kevan Abrahams (D-Freeport), the county legislature’s Democratic minority leader, held a news conference to tout his party’s own lobbying disclosure legislation.“This new law will bring additional transparency by requiring contractors and vendors to disclose their lobbying activities—by registering with the County Attorney and Clerk of the Legislature—and file annual and quarterly reports, which will be available on the county website,” said Mangano in a statement.Under the current law,  contracts require approval by the county attorney, the county legislature, the comptroller and the Nassau Interim Finance Authority. But Nassau does not have any lobbying disclosures like that of neighboring Suffolk County, New York City and the state.The Democrats said their proposal is more thorough than Mangano’s.“Although any disclosure is a helpful start, what we really need, that our bill provides today, is clarification that will force clear disclosure of relationships and communications between consultants and lobbyists, County employees and elected officials,” Legis. Delia DeRiggi-Whitton (D-Glen Cove) said in a statement. “The administration’s bill only requires lobbyists, a term which is hard to define… Each contract has to clearly delineate any relationship between the County and the prospective participant in said contract.”The focus on lobbying reforms stems from a report in The New York Times that Preet Bharara, the U.S. Attorney for the Southern District of New York, was looking into the actions of Sen. Skelos and his son, Adam, who had been hired as a consultant to an Arizona company, AbTech Industries, that was awarded a lucrative storm-water treatment contract by the Nassau legislature with no questions asked.No charges have been filed and the federal investigation is ongoing, sources say. AbTech said in a Facebook post the day after the Times story broke that it “is a company of integrity and transparency, from its executive officers to its field employees.” Also a day after the report, the Nassau County district attorney’s office announced an overall review of the county’s contract bidding process.The dueling proposals come despite the fact that Mangano spokesman Brian Nevin said in a statement last week  that “Nassau County has the most transparent process known to government” in response to a request to confirm reports that the county executive had testified before the grand jury.But the approval process of the AbTech contract has since raised concerns, because Adam Skelos’ connection to the company was not disclosed before lawmakers approved it.“Our hope is that this legislation will avoid another ‘AbTech’ and clearly inform the public and County Legislature who exactly is influencing the award of hundreds of millions of dollars of County contracts annually,” said Abrahams. “We have been calling upon the County to take further steps to bring real disclosure measures for some time and it has fallen on deaf ears. It’s time County lawmakers work bi-partisanly to bring transparency measures that will bring public integrity back to governing here in Nassau.”last_img read more

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Wellington has 2 public tornado shelters; however you may want to find shelter at home

first_imgBy Tim Hay, Wellington Fire/EMS Chief — There are only two public tornado shelter locations in the city of Wellington.They are located at Sumner Regional Medical Center at 1323 North A (enter on the southeast side)….…and Sumner Care Center Nursing Home 1600 West 8th (enter on the west side).The old junior high located at 311 North A is no longer a public shelter as the building was sold to a private entity.  The City of Wellington encourages the public to find primary shelter in their home or business during a tornado warning as there may not be time to drive to a public shelter.  Locations to shelter in the home or business are a basement, interior hallway or bathroom without windows.Other locations to seek shelter are a neighbor, friend or family with a basement.  Make sure you have arrangements to gain access to their home or business in the event they are not occupied.  Those who live in a mobile home are encouraged to leave the mobile home regardless as mobile homes are easily damaged or destroyed by high winds or tornadoes.If you are in a vehicle and do not have time to seek shelter exit the vehicle and find shelter in a low lying area.  Tornado sirens are only efficient as outdoor warning devices.  They are not meant to be heard in structures or vehicles.The public must stay vigilant at all times when threatening weather approaches.  Tornado sirens are sounded when the national weather service includes the City of Wellington or the Wellington Lake (which can be sounded individually) or when an emergency responder visually confirms a tornado.When a tornado siren sounds or the national weather service issues a tornado warning for our area the public is encouraged to seek shelter immediately.  There are “no” sounding of the sirens for an all clear.  The public must decide when it is safe to leave shelter based on media reports and other information.  Visit the City of Wellington website, http://cityofwellington.net/, periodically for news and shelter information. 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 (7) 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 Sort by: Date Rating Last Activity Loading comments… 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. +1 Vote up Vote down ???? · 377 weeks ago In light of the tragedy yesterday in Oklahoma, it made me question what we have in place at our local schools for “safe” rooms. I guess this is more of a question then a comment. Report Reply 3 replies · active 377 weeks ago +2 Vote up Vote down CueballSumnernewscow 94p · 377 weeks ago I’m glad you said something about this. At the Wellington schools there are tornado safety rooms in all school buildings EXCEPT Eisenhower Elementary on the west side of town. Report Reply 0 Vote up Vote down ???? · 377 weeks ago EXCEPT Eisenhower??? What’s up with that? Dig in Cueball, time to find some answers. What could possibly be the reasoning for not providing the same level of protection to all our kids. ??School Board?? Report Reply 0 Vote up Vote down birdfan · 377 weeks ago Thats better than most districts, would be good to upgrade the last school asap. Report Reply +1 Vote up Vote down Stormie · 377 weeks ago Lincoln Elementary has a ‘state of the art’ FEMA Safe room. Steel and concrete walls and ceiling, bathroom, emergency lighting. The only missing component is that it should be available to the community. I believe that would require 24/7 accessibility, so the police or fire department would need a key and personnel to open the outside door during storm warnings. Report Reply 1 reply · active 377 weeks ago 0 Vote up Vote down birdfan · 377 weeks ago If one is coming and I have no other good place for my family, I WILL get in we can replace the glass, door or whatever later. 🙂 Report Reply +2 Vote up Vote down Tami Klinedinst · 377 weeks ago Sumner County Care Center has an excellent basement and a tornado shelter to accomodate multiple people/families if a tornado or disaster were to happen in Sumner County. We are open 24/7 and personnel are present to open the outside doors when storm or disasters develop. Our medical staff are highly trained and equipped to provide most needs of individuals. If you have any questions, please contact our Executive Director, Tami Klinedinst at 620-326-2232 or 316-206-3800 (cell). Report Reply 0 replies · active 377 weeks ago 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