Freddie Mac Prices Sixth STACR Offering

first_img in Daily Dose, Featured, News Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Freddie Mac Prices Sixth STACR Offering Credit Risk Sharing Freddie Mac STACR 2016-09-13 Kendall Baer Share Save Tagged with: Credit Risk Sharing Freddie Mac STACR Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Related Articles Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Freddie Mac recently priced a $515 million Structured Agency Credit Risk (STACR) debt notes offering, according to a report from the GSE. This is reportedly the sixth one from Freddie Mac this year. The report states that through STACR, Freddie Mac transfers a significant portion of its mortgage credit risk on certain groups of loans to private investors.Pricing for STACR Series 2016-HQA3 includes M-1 class which is one-month LIBOR plus a spread of 80 basis points, M-2 class which is one month LIBOR plus a spread of 135 basis points, M-3 class which is one month LIBOR plus a spread of 385 basis points, and finally, B class which is one month LIBOR plus a spread of 900 basis points.Bank of America Merrill Lynch and Goldman, Sachs & Co. will serve as co-lead managers and joint bookrunners, according to the report.Freddie Mac states that with the STACR 2016-HQA3 offering of loans with LTVs ranging from 80 to 95 percent, Freddie Mac holds the senior loss risk in the capital structure and a portion of the risk in the Class M-1, M-2 and M-3 tranches, and the first loss Class B tranche.Additionally, STACR 2016-HQA3 has a reference pool of single-family mortgages with an unpaid principal balance of more than $15.7 billion. The reference pool consists of a subset of 30-year fixed-rate single-family mortgages acquired by Freddie Mac.The report states that Freddie Mac has led the market in introducing new credit risk-sharing initiatives with STACR, Agency Credit Insurance Structure (ACIS) and Whole Loan Securities (WLS(SM)), and was the first agency to market these types of credit risk transfer transactions. The company states that it has since grown its investor base to more than 200 unique investors, including insurers and reinsurers. Additionally, since 2013, the company has transferred a significant portion of credit risk on nearly $530 billion of UPB on single-family mortgagescenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Freddie Mac Prices Sixth STACR Offering About Author: Kendall Baer The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago September 13, 2016 1,351 Views Previous: National Foreclosure Rates Back to Pre-Crisis Levels in July Next: New Tool Launched for REO Market The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

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Ginnie Mae Attracting Investors

first_imgHome / Daily Dose / Ginnie Mae Attracting Investors Demand Propels Home Prices Upward 2 days ago Ginnie Mae Attracting Investors in Daily Dose, Featured, News While the broader economy is on rocky terrain as a result of the global COVID-19 pandemic, Ginnie Mae is assuring the market and its investors that it remains on solid footing. Investors across the globe are continuing to invest in Ginnie Mae mortgage-backed securities, even in the current economic climate.As of May, Ginnie Mae’s MBS production climbed to $63.44 billion in issuance and totaled $2.149 trillion in outstanding principal balance.According to Ginnie Mae, this investment has helped “an additional 235,000 borrowers obtain affordable housing credit.”In a post this week, Ginnie Mae explained that it has traditionally helped maintain a stable market even during economic downturns by ensuring that its MBS have continued receiving principal and interest payments even during the worst economies.“The ongoing COVID-19 pandemic is no exception,” Ginnie Mae stated. “The coronavirus emergency is one of many examples in our 50 plus years where Ginnie Mae provides liquidity and stability into the U.S. housing finance sector amidst the crisis.”In response to the pandemic, Ginnie Mae created the Pass-Through Assistance Program (PTAP) in April to help servicers as well as taxpayers.The PTAP has helped servicers by allowing them to offer flexibility to home loan borrowers during the financial crisis created by the pandemic. In May, Ginnie Mae also expanded PTAP to multifamily MBS.Under PTAP, disruptions in payment do not qualify as a default.Ginnie Mae also noted that its MBS is actually increasing in demand as Treasury rates decline, explaining that “international demand for Ginnie Mae MBS has been particularly strong for those global investors seeking to place their capital outside bonds with lower rates in local and regional bond markets.”International investors can continue to invest knowing that their principal and interest payments will remain on schedule and they have their investment has the guaranty of the U.S. government.In fact, Ginnie Mae has continued to have strong demand since the Great Recession, growing from $400 billion to more than $2 trillion over the past decade. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago June 24, 2020 1,307 Views The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago Previous: Foreclosures Down for Fannie Mae, Freddie Mac Next: HUD Responds to Financial Services Committee’s Claims Tagged with: Ginnie Mae MBS Ginnie Mae MBS 2020-06-24 Mike Albanese About Author: Krista F. Brock Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia.  Print This Post Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

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St. Vincent Performed Her First Show Of 2016 Dressed As A Toilet

first_imgWatch St. Vincent perform “Bring Me Your Loves” dressed as a toilet below, courtesy of YouTube user Tyler McCall. St. Vincent is our hero. The indie art-rocker always impresses audiences with her excellent guitar playing, synchronized dance moves, and her interesting stage outfits. As reported by Consequence of Sound, the unique artist performed at New York club (Le) Poisson Rouge last night, and the artist also known as Annie Clark took the stage in a toilet costume. Yes, that’s right, a toilet costume.Clark rocked the stage with her band last night as part of a benefit concert, which raised money to help her drummer Matt Johnson‘s son Jasper after he suffered a seizure earlier this year. Other performers at the benefit included Father John Misty and Rufus Wainright. Clark played “Bring Me Your Loves” and “Marry Me”, and played a brand new track that she dedicated to her girlfriend Cara Delevingne.Watch St. Vincent’s new song below.last_img read more

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Chart swings to fourth-quarter profit

first_imgUS LNG engineer, Chart Industries swung to a $26.7 million fourth-quarter profit after a $3.3 million loss reported in the corresponding quarter last year. For the full year, the company’s net profit was at $28 million, dipping slightly below the last year’s figures of $28.2 million, Chart’s report shows.Net sales for the fourth quarter of 2017 were $306.0 million, a 43 percent increase compared to the fourth quarter 2016.Chart order activity in 2017 increased 18 percent over 2016, the company said noting that each of its three segments had order growth over 2016, with energy & chemicals 2017 orders totaling $243.6 million. This compares to E&C’s 2016 orders of $110.2 million, representing a 121 percent increase.Additionally, Chart’s order trends increased sequentially each quarter of 2017, including 10 percent growth in the fourth quarter over the third quarter of 2017.Increases in the United States shale and associated gas drove natural gas processing plant activity throughout 2017, resulting in the best order year for E&C’s air cooled heat exchanger product line since 2014.Chart added that in 2017, there were no significant orders for LNG liquefaction plants in 2017, although in the fourth quarter of 2017, Tellurian signed an agreement with Bechtel and Chart to proceed with utilizing Chart’s IPSMR process technology and equipment on the Driftwood project.For the year 2018, Chart expects its sales guidance to be in the range of $1.15 billion to $1.2 billion, and its adjusted earnings to be at $31.5 million.last_img read more

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State officials want to see more mental health providers in rural areas

first_imgIndianapolis, In. — The Indiana State Department of Health (ISDH) is launching a program to help attract mental healthcare providers to rural areas of the state where more services are needed.The program will provide an incentive for psychiatrists, alcohol and substance use counselors and practitioners in related disciplines to practice in a specific, federally designated Indiana region experiencing high numbers of opioid deaths. The counties included are Blackford, Dearborn, Fayette, Franklin, Grant, Henry, Jay, Randolph, Switzerland, Union and Wayne. The program will be administered by the ISDH Division of Chronic Disease, Primary Care and Rural Health.“Attacking the drug crisis and helping people achieve recovery is a key pillar of Governor Holcomb’s agenda,” said Jim McClelland, Indiana executive director for Drug Prevention, Treatment and Enforcement. “This program will help bring more qualified medical professionals to rural Indiana communities and expand access to quality treatment for individuals with substance use disorder.”The project will make grants for professional loan repayments to qualifying providers in mental health and addiction-related disciplines first, followed by primary care physicians, who are also in short supply. The plan calls for 30 awards for each year of the four-year grant period. The Health Resources and Services Administration (HRSA) will match the $300,000 ISDH is investing in the program for a total repayment pool of $600,000. An advisory committee, with the Family and Social Services Administration’s Division of Mental Health and Addiction and the Indiana Hospital Association as partners, will be formed to help with project development and grant awards by March. Applications are available online at https://www.in.gov/isdh/28090.htm.“Access to treatment is a critical component of our effort to reduce the burden of the opioid epidemic,” said ISDH Chronic Disease Director Ann Alley. “This program will help save lives by increasing access to mental health services and removing barriers to recovery.”According to HRSA, 46 of Indiana’s 48 rural counties don’t have enough mental healthcare providers. ISDH data show 42 of those counties had at least one death attributed to opioids in 2016, while seven of them had the highest number of opioid-related deaths in the state. Many of those same counties or their neighbors are on HRSA’s list of the top 5 percent most vulnerable for opioid use by state.last_img read more

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