Mark Calabria Applauds Decision to Review Secondary Mortgage Market

first_img July 14, 2020 1,363 Views Previous: Mortgage Delinquencies Hit Four-year High Next: Ginnie Mae Issues $61B in MBS in June Mark Calabria Applauds Decision to Review Secondary Mortgage Market The Best Markets For Residential Property Investors 2 days ago About Author: Mike Albanese Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Servicers Navigate the Post-Pandemic World 2 days ago Share 1Save Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Mark Calabria Applauds Decision to Review Secondary Mortgage Market Related Articles Tagged with: FHFA Secondary Mortgage Marketcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe FHFA Director, Mark CalabriaThe Financial Stability Oversight Council (FSOC) announced Tuesday during its Principals Meeting that it will begin an activities-based review of the secondary mortgage market.In December, the FSOC implemented an activities-based approach for identifying and addressing potential risks to financial stability.”I applaud Secretary Mnuchin and the Financial Stability Oversight Council for initiating an activities-based review of the secondary mortgage market,” said Dr. Mark A. Calabria, Director of the Federal Housing Finance Agency (FHFA). “As demonstrated by the 2008 financial crisis and again by COVID-19, Fannie Mae and Freddie Mac must be well capitalized in order to support the mortgage market during a stressed environment.”The review will assess both the risk that activities in the secondary mortgage market pose to the stability of the financial system and the efficacy of various risk factors.Calabria, commenting at the FSOC Principals Meeting, said under the Dodd-Frank Act, under one of the Council’s core purposes is “to promote market discipline, by eliminating expectations on the part of shareholders, creditors, and counterparties” of large financial institutions.“Simply stated, the Council’s job is to end bailouts,” he said.Calabria added that he is concerned that the actions taken over a decade, such as the TARP, reinforced the expectation of bailouts.“I also remain concerned that as memories of the 2008 financial crisis fade, so does the resolve for ending bailouts,” he said. “Dodd-Frank ultimately leaves ending bailouts to the discretion of regulators, and I, for one, am committed to using all the tools at my disposal to do just that. I believe the nonbank guidance is an important step toward fulfilling that purpose and ending bailouts.”The FHFA’s Director added that some of the previous nonbank designations were done in such a manner that raised the possibility that designated entities would be perceived as “too big to fail.”“In doing so, the Council ran the risk that a designation would distort market expectations and reduce market discipline, contrary to its statutory purposes. I believe the approach the Council adopted yesterday reduces that risk,” he said. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago FHFA Secondary Mortgage Market 2020-07-14 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Postlast_img read more

Three lucky ladies strike gold again

first_img× Those placing first, second, or third will move on to the next event, State Bowling, where they will be bowling against other athletes from all over New Jersey. This event will be held on April 2 at the Brunswick Zone in North Brunswick.The bowlers were accompanied to this event by their coaches and chaperones: Ronnie Burns, Tessie Diaz, Fran Tomasso, Jill Bergalowski, Anastasia Lee, Chris Burns, Robyn Bolles, and Joe Bolles. Very much missed at the event was Rose Yurecko. Once again, many thanks go out to all the family and friends who came out to cheer on the athletes. Their continued support is vital our program and is greatly appreciated. Chelsea Sitrone, Kaitlyn Frey, and Lori Brett, all part of the Bayonne Recreation Special Olympic Bowling team, have brought home gold medals once again, first at the Area 1 bowling meet in January and again at the North Sectional Bowling meet. The Bayonne Recreation Special Keglers had an awesome showing at the event recently held at Hudson Lanes.First place: Chelsea Stirone, Kaitlyn Frey, Lori Brett, Roger BelangerSecond place: Sierra Battle, Wendy DiDomenico, Ian HudackoThird place: Marybeth Yurecko, Marcello Ciccone, Ronald BenitezFourth place: Charles Cirillo, Jovanni TorresFifth place: Cheryl Olander, Dina Tryon, Ronald OnionSixth place: Marie Bruno, Francheska HuentalfSeventh place: Alexis Galgano, Richmond McCurninEighth place: Jude Orlando, Michael Walshlast_img read more

Poland receives 82nd LNG cargo at Swinoujscie

first_imgLNG World News Staff Image courtesy of Polskie LNGPolish sole liquefied natural gas (LNG) import facility, the President Lech Kaczyński terminal in Świnoujście, has received a new cargo on Friday. Polish LNG terminal operator, Polskie LNG, said via social media that the delivery came to the facility onboard the LNG carrier Duhail capable of transporting 210.110 cubic meters of the chilled fuel.It was the 82nd delivery since the project started operation, the operator said. It also added that, with the delivery on December 26, it has now received a total of six cargoes within a six-week period.Polish Oil and Gas Company (PGNiG) is in charge of all the LNG supplies coming to the import terminal operated by Gaz-System’s unit Polskie LNG.last_img read more