Report: GSEs Purchased Risky Loans Despite Red Flags

first_imgHome / Daily Dose / Report: GSEs Purchased Risky Loans Despite Red Flags Appraisals Fannie Mae FHFA Freddie Mac 2014-02-06 Krista Franks Brock Report: GSEs Purchased Risky Loans Despite Red Flags Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Appraisals Fannie Mae FHFA Freddie Mac The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Government, Headlines, News, Secondary Market Servicers Navigate the Post-Pandemic World 2 days ago 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribecenter_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago February 6, 2014 976 Views About Author: Krista Franks Brock Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Law Firm Barrett Daffin Frappier Turner & Engel Recruits New Partners Next: Expired Tax Relief Could Increase Pressure on Troubled Borrowers About four years after the Federal Housing Finance Agency (FHFA) directed the GSEs to develop a uniform collateral data portal, the Office of the Inspector General of the Federal Housing Finance Agency (FHFA OIG) finds the portal is not being used to its potential, and the GSEs continue to purchase loans with red flags.After “extensive” development and testing, the OIG concluded in a recent audit, “more remains to be done to use the portal’s data to minimize the risk of loss.”Both enterprises continue to purchase loans despite warning messages from the portal, according to a report the OIG released Thursday.Fannie Mae purchased 56,000 loans for a total of $13 billion from January through June of last year despite warnings from the portal indicating the loans might not meet the GSE’s underwriting requirements, according to the OIG.Meanwhile, Freddie Mac purchased 29,000 loans for a total of $6.7 billion from June through September despite warnings regarding the properties’ valuations, according to the OIG.Each of the 56,000 loans purchased by Fannie Mae came with between one and nine caution messages regarding the loan’s quality.The messages dealt with such issues as confirmation of repairs and “unauthorized use of single-family loan funds,” according to the OIG, and in each case the warning message was disregarded using an automatic override.Fannie Mae purchased the loans and “focused its efforts on reviewing the loans for conformance with its requirements after it bought them,” according to the OIG.Fannie Mae reportedly “did not require lenders to explain or resolve potential problems ranging from formatting issues to violations of its underwriting requirements,” according to the OIG.Similarly, Freddie Mac purchased more than 29,000 loans despite the portal’s warning that “either no property value could be provided or the value of the property was in question,” according to the OIG. In fact, in some cases the portal could not even verify that the address existed.Like Fannie Mae, Freddie Mac’s approach was to override the warnings and review the loans for issues after purchasing them.In fact, Fannie Mae and Freddie Mac both claimed they did not want to “burden lenders with having to respond to messages,” according to the OIG.The OIG audit also detected 414,000 instances in which the portal found that an appraiser’s license could not be verified.The “uniform collateral data portal is intended to improve appraisal data quality and risk management for the Enterprises by collecting appraisal data to help them make informed decisions about the loans they buy,” the OIG reported.“However, as demonstrated by the results of this audit, these goals are at risk of not being achieved,” the OIG stated.On the bright side, the audit did cause the GSEs to consider 23 loans totaling $3.4 million for repurchase.last_img read more

Bees Nipped By El Paso

first_imgAugust 28, 2019 /Sports News – Local Bees Nipped By El Paso Written by Tags: El Paso Chihuahuas/PCL/Salt Lake Bees FacebookTwitterLinkedInEmail(El Paso, TX) — Jared Walsh pushed a run across in the ninth, but it wasn’t enough as the Bees fell to the Chihuahuas 7-6 in El Paso.Jose Rojas hit his 30th homer of the season and drove in three runs. Jose Rodriguez took the loss, giving up three runs on four hits over two-thirds of an inning.Salt Lake is now 57-and-76 and will continue their road trip tonight in Texas. Robert Lovelllast_img read more

Tenure-track faculty position: Workplace Mental Health

first_imgTheDepartment of Mental Health of the Johns Hopkins UniversityBloomberg School of Public Health is seeking an Associate orFull Professor level faculty member to lead a new Center for MentalHealth in the Workplace. Prevention of mental illness and promotionof mental health in adulthood can have a major impact on thepublic’s health. A significant and often overlooked venue fordevelopment and dissemination of prevention and treatment inadulthood is the workplace. The vast majority of adults areemployed, including the majority of adults with a mental illness.Partnership with employers and other corporate stakeholders canmaximize prevention and promotion efforts by supportingdissemination of effective interventions to the workingpopulation.We seek a senior-level researcher with these keycharacteristics: Ability to partner with non-academic stakeholders (e.g.,employers, businesses) to develop an interdisciplinary program ofresearch on workplace mental health;Possesses entrepreneurial and leadership qualities;Demonstrates an understanding of clinical mental healthdisorders as distinct from occupational stress;Passionate about the potential of developing a public healthapproach addressing workplace mental health. The Department of Mental Health is the only department dedicated tomental health and situated in a school of public health. We bringtogether leading researchers across multiple disciplines joined bytheir passion for understanding, preventing, and treating mentalhealth and substance use disorders and addressing related phenomenain the areas of aging, autism, adolescent health, child sexualabuse, disturbed sleep, environmental exposures, global mentalhealth, and suicide. Faculty, students and community health leadersin Mental Health are dedicated to educating the next generation ofpublic health workers and scientists about the importance of mentalhealth, the specific skills needed to address public mental healthissues and the integration of mental and physical health.Department faculty conduct a range of research in amulti-disciplinary environment, collaborating with otherdepartments in the Bloomberg School of Public Health (SPH), withmultiple departments in the School of Medicine, and with otherdivisions of the Johns Hopkins University (JHU). In addition, wehave active and close collaborations with a number of local andstate agencies. Many DMH faculty have joint appointments in otherSPH departments or other divisions of JHU. We also have multipleNIH training programs that include pre- and post-doctoral studentsfrom Mental Health and across departments and divisions, creating ahighly collaborative and productive research, training, andpractice environment.Applicants should have a doctoral degree in public health,psychology, sociology, social work, or a related discipline or anM.D. with public health experience relevant to prevention scienceand workplace settings.Review of applicants will begin in January 2020. Interestedcandidates should send a letter describing research and teachinginterests, names and addresses of potential references, and aCurriculum Vitae via Interfolio by clicking the “Apply Now”button.Questions regarding the position should be addressed to Dr. DanieleFallin at [email protected] Johns Hopkins University is committed to equal opportunity forits faculty, staff, and students. To that end, the university doesnot discriminate on the basis of sex, gender, marital status,pregnancy, race, color, ethnicity, national origin, age,disability, religion, sexual orientation, gender identity orexpression, veteran status or other legally protectedcharacteristic. The university is committed to providing qualifiedindividuals access to all academic and employment programs,benefits and activities on the basis of demonstrated ability,performance and merit without regard to personal factors that areirrelevant to the program involved.The successful candidate(s) for this position will be subject to apre-employment background check.If you are interested in applying for employment with The JohnsHopkins University and require special assistance or accommodationduring any part of the pre-employment process, please contact theHR Business Services Office at [email protected] For TTYusers, call via Maryland Relay or dial 711.The following additional provisions may apply depending on whichcampus you will work. Your recruiter will adviseaccordingly.During the Influenza (“the flu”) season, as a condition ofemployment, The Johns Hopkins Institutions require all employeeswho provide ongoing services to patients or work in patient care orclinical care areas to have an annual influenza vaccination orpossess an approved medical or religious exception. Failure to meetthis requirement may result in termination of employment.The pre-employment physical for positions in clinical areas,laboratories, working with research subjects, or involvingcommunity contact requires documentation of immune status againstRubella (German measles), Rubeola (Measles), Mumps, Varicella(chickenpox), Hepatitis B and documentation of having received theTdap (Tetanus, diphtheria, pertussis) vaccination. This may includedocumentation of having two (2) MMR vaccines; two (2) Varicellavaccines; or antibody status to these diseases from laboratorytesting. Blood tests for immunities to these diseases areordinarily included in the pre-employment physical exam except forthose employees who provide results of blood tests or immunizationdocumentation from their own health care providers. Anyvaccinations required for these diseases will be given at no costin our Occupational Health office.Equal Opportunity EmployerNote: Job Postings are updated daily and remain online untilfilled.EEO is the LawLearn more:https://www1.eeoc.gov/employers/upload/eeoc_self_print_poster.pdfImportant legal informationhttp://hrnt.jhu.edu/legal.cfmcenter_img Ability to meet institutional expectations of a tenured ortenure-track faculty member, as evidenced by:high-quality research published in high-impact journals;funding for research secured from federal, foundation and/orphilanthropic resources;collaboration with peers and mentorship of students and earlycareer faculty;last_img read more

Women’s volleyball grabs two more home victories

first_imgSophomore opposite hitter Khalia Lanier led the Women of Troy to victories over Utah and Colorado last week, totaling 38 kills across the two matches. Photo by Ling Luo | Daily TrojanThe women’s volleyball team collected two more wins at home last week to improve to 20-7 on the season. The No. 17 Women of Troy surged past No. 15 Utah on Thursday night 3-1 and narrowly edged No. 25 Colorado 3-2 on Saturday. With the two victories, USC moved to 10-1 at home and 12-4 against Pac-12 conference opponents this year, and the team rose to No. 14 in this week’s AVCA Coaches poll. The Women of Troy played a five-set thriller against the Buffaloes on Saturday afternoon. USC raced out an early 10-8 lead, but a 7-1 Colorado run shifted the momentum in the first set. The Trojans responded with a 7-2 run of their own to take a slight 18-17 lead. But crucial attack errors allowed the Buffaloes to break off another 7-0 run to seize a 24-18 advantage, and they eventually claimed the first set 25-20.The Trojans rebounded in the second frame, leading by as much as 9 points to tie things up with a 25-17 win. The third set was an extremely close battle, as neither team could gain a distinct advantage with several tied scores and short-lived leads. USC tied it late at 24 and took brief 1-point leads, but the Buffaloes never gave up, knotting the set up at 26-26 and later 27-27. Eventually, a kill by Abu Naghede and a USC attack error gave the Buffaloes a 29-27 third-set win.The Buffaloes took an early 3-2 lead in the fourth, but the Trojans responded with a devastating 18-3 run to take a 20-3 lead, and they surged to a 25-11 win to tie the match 2-2. Despite trailing 8-6 early on in the final frame, the Women of Troy rallied back with a 9-3 run to clinch the match with a 15-11 fifth-set victory.The Women of Troy were led by sophomore outside hitter Khalia Lanier, who recorded a double-double with 21 kills and 14 digs on a .333 hitting percentage. Freshman opposite hitter Brooke Botkin chipped in 14 kills on .290 hitting percentage, and senior opposite hitters Niki Withers and Brittany Abercrombie combined for 21 kills. The team collectively had a .257 hitting percentage and 60 total kills in the win, while senior setter Reni Meyer-Whalley and sophomore setter Cindy Marina fueled the attack with 23 assists each.Battling Utah on Thursday night, the Trojans quickly took advantage, establishing a 13-8 lead in the opening minutes. After the Utes stormed back to tie it at 18, USC used a 7-3 run to take the first set 25-21 behind successful kills from Abercrombie, Withers and Lanier. The second set remained close as the two squads battled to a 9-9 stalemate early on, but the Trojans built a 3-point lead and never looked back, taking the set 25-17.Utah rode an 8-1 run in the middle of the third frame to win 25-18 and cut into USC’s lead. The fourth set was a close battle as both teams exchanged leads early on, but the Trojans used a critical 5-0 run to take a 11-7 lead behind three kills in four plays from Botkin. While the Utes kept close with the Trojans throughout the rest of the set, USC eventually took the set and match with a 25-22 victory.Lanier once again led the Trojans with 17 kills on a .304 hitting percentage while Abercrombie collected 16 kills. Withers and Botkin combined for 21 kills in the win, whileMeyer-Whalley recorded a double-double with 32 assists and 12 digs. Marina added an additional 15 assists. USC recorded 10 blocks, led by senior middle blocker Jordan Dunn’s seven block assists. The Women of Troy only have four matches left in the regular season, as they wrap up against Stanford, Cal, Oregon and UCLA in the coming weeks. After the wins against Colorado and Utah, USC hits the road for three consecutive tilts. The team will return to the Galen Center to face UCLA on Nov. 25 for its regular-season finale.last_img read more

DONE DEAL: Man Utd sign Angel Di Maria after smashing British transfer record

first_imgManchester United have announced the signing of Angel Di Maria on a five-year deal.United announced they had broken the British transfer record by signing the winger for £59.7m from Real Madrid.Posting the news on Twitter, the club revealed: “Manchester United is delighted to announce that Angel Di Maria has completed his transfer for a British record fee of £59.7million. Angel joins on a five-year contract.”The fee surpasses the previous record of £50m, which Chelsea set when they bought Fernando Torres from Liverpool in January 2011.Di Maria become United’s fourth signing on the summer, following Luke Shaw, Ander Herrera and Marcos Rojo in putting pen to paper at Old Trafford.last_img read more