Bankers warn of brain drain as rules loom

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMoneyWise.com15 States Where Americans Don’t Want To Live Bankers warn of brain drain as rules loom Sunday 15 August 2010 10:42 pm whatsapp Show Comments ▼ Tags: NULL Share whatsapp BANKERS have renewed warnings of a talent exodus from the UK as the financial watchdog begins consulting the City on a tough set of bonus and pay rules drafted in Europe.The Financial Services Authority (FSA) is engaging with institutions and shareholders over plans to cap the upfront cash portion of large rewards at 20 per cent and stagger the remainder over five years. Although the EU standards will not come into effect until January, most UK lenders have already tightened their remuneration policies in line with demands set out by the G20.After the bumper second quarter earnings season prompted a fresh flurry of criticism of pay levels, British Bankers’ Association chief executive Angela Knight warned that skilled workers would flee for America and Asia.“When you consider the extraordinary commentary we saw a fortnight ago in which the return to profitability [of banks] seemed to be a bad thing, you realise policymakers are not recognising reality,” she said. “Around the world, the US shows no inclination to follow what we’re doing and the Far East is just getting on with the job. Either we pay the going rate or we lose the business.”Barclays and Standard Chartered have also hinted at plans to move their domiciles given chancellor George Osborne’s levy on bank balance sheets, to be introduced at the same time as the EU’s pay strictures.Barclays chairman Marcus Agius said at the time of the bank’s interim numbers: “We have planned carefully… I’m sure all banks are considering what their options are.”Standard Chartered chief executive Peter Sands said: “There is no doubt the arguments for London have weakened relative to other centres… We’ve been looking at it more because we’re asked about it more by our investors.”Sands particularly criticised Osborne’s levy as “complicated to implement”. He suggested increased corporation tax would be a simpler and more effective tool.HSBC, run by Michael Geoghegan, yesterday confirmed it would hold its three-yearly review of its domicile in 2011 as scheduled. But a source said there were no plans to leave the UK. KCS-content last_img read more

I think it’s time to double down on the Tesco share price

first_img Our 6 ‘Best Buys Now’ Shares Don’t miss our special stock presentation.It contains details of a UK-listed company our Motley Fool UK analysts are extremely enthusiastic about.They think it’s offering an incredible opportunity to grow your wealth over the long term – at its current price – regardless of what happens in the wider market.That’s why they’re referring to it as the FTSE’s ‘double agent’.Because they believe it’s working both with the market… And against it.To find out why we think you should add it to your portfolio today… Enter Your Email Address Rupert Hargreaves owns no share mentioned. The Motley Fool UK has recommended Tesco. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I think it’s time to double down on the Tesco share price Image source: Getty Images. The Tesco (LSE: TSCO) share price has been one of the best UK investments to own this year. Over the past 12 months, an investment in the retail giant has outperformed the wider FTSE 100 by around 14%, including dividends. The company’s defensive nature and size have helped it outperform in the current economic environment. And, as the coronavirus crisis continues, I think these advantages will continue to work in the group’s favour. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Tesco share price advantagesAccording to its latest trading update, the group’s sales during the first half of its financial year increased by 6.6%. A jump in food sales helped offset a decline in other parts of the business. Unfortunately, costs also lept. Tesco has incurred significant expenses relating to the coronavirus pandemic. These reached £530m in the first half of the year, and will total £725m for the full year. However, the government’s year-long business rates holiday will offset a good chunk of this. As a result, group operating profit in the first half of Tesco’s financial year was £1.01bn, down 4.5% on last year. I think these figures show the retailer’s resilience in uncertain times. Even though the group has had to grapple with higher costs, stockpiling by customers and a substantial drop in sales of some product lines, it has come out relatively unscathed. This bodes well for the future. As the coronavirus crisis continues, I think investors would do best to stick with companies that have already shown they can weather the storm.Tesco’s first-half results showed it falls into this bucket. Therefore, I think it’s highly likely the group will continue to produce attractive returns for investors, relative to the rest of the market, for the next six to 12 months. Dividend champion Unlike many other FTSE 100 companies, the group has also maintained its dividend to investors. The Tesco share price is on track to offer investors a dividend yield of 3.7% this year. That looks incredibly attractive in the current interest rate environment. The group is also in the process of divesting its international operations. Sales of its businesses in Thailand, Malaysia and Poland are “progressing well,” according to the latest update. The £8.2bn sale of the operations is expected to complete during the next few months.Management is planning to use some of the cash to reduce group debt. Meanwhile, £5bn is earmarked for a special dividend. Therefore, the total cash payout to investors this year could be significantly higher than the 3.7% projected above when this special distribution is taken into account. That’s why I think it could be time to double down on the Tesco share price. Over the past six months, the company has shown it can prosper in the current economic and pandemic climate.This bodes well for the retailer’s future, and there’s also the potential for large cash returns when the business sells its international operations.center_img There’s a ‘double agent’ hiding in the FTSE… we recommend you buy it! Rupert Hargreaves | Monday, 12th October, 2020 | More on: TSCO Click here to get access to our presentation, and learn how to get the name of this ‘double agent’! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this. See all posts by Rupert Hargreaveslast_img read more

Secretary of Army aide speaking on Memorial Day

first_img Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Orange County Mayor Teresa Jacobs and the Veterans Advisory Council Honor Fallen Heroes this Memorial Day Residents are invited to join Orange County Mayor Teresa Jacobs and the Veterans Advisory Council in honoring the members who served in the armed forces in Orange County and ultimately sacrificed their lives while serving their country. The annual Orange County War Memorial and Wreath Presentation Commemoration Ceremony will take place at the Orange County Courthouse at 10 a.m. on Monday, May 28, 2018. The event is free and open to the public. Mayor Jacobs will deliver remarks and present a resolution during the commemoration event. The Veterans Advisory Council will then accompany her in a wreath-laying ceremony, which will be followed by the playing of “Taps” to commemorate the fallen heroes.  Allie L. Braswell, Jr., Civilian Aide to the Secretary of the Army, will serve as the guest speaker. Share on Facebook Tweet on Twitter Please enter your comment! LEAVE A REPLY Cancel reply TAGSMemorial DayOrange County Mayor Teresa Jacobs Previous article#1 crisis facing Central Floridians? Let’s Talk About ItNext articleApopka Burglary Report Denise Connell RELATED ARTICLESMORE FROM AUTHOR Support conservation and fish with NEW Florida specialty license plate Please enter your name here The Anatomy of Fear You have entered an incorrect email address! Please enter your email address here Save my name, email, and website in this browser for the next time I comment.last_img read more

Oxfam seeks individual to see for themselves how donated money is spent

first_img About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving.  114 total views,  4 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 Howard Lake | 6 June 2012 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 Tagged with: impact Individual giving Oxfam transparency  113 total views,  3 views today Advertisement Oxfam seeks individual to see for themselves how donated money is spent Oxfam is once again searching for an individual member of the public to see for themselves how money to the charity is spent.The selected individual will travel to one of their projects overseas and then report back on their experience. They will also feature in a major TV, print and online advertising campaign which will launch this autumn to encourage more people to donate to Oxfam on a regular basis.Oxfam created the ‘See For Yourself’ campaign to counter uncertainty, detected in research by the charity, about whether donated money gets to where it is needed and whether it can make a difference.The charity is hoping that its honesty and transparency will reassure donors and potential supporters.The first person to take part in ‘See For Yourself’ was Oxfam supporter Jodie Sandford. Earlier this year she travelled to Zimbabwe to see Oxfam’s work.The next participant will specifically not be an Oxfam supporter. They will travel with the charity to Malawi, southeast Africa.Oxfam are looking for someone who is curious, not afraid to ask questions, and who is “willing to embrace new experiences as the trip itself will be physically and emotionally challenging”.The whole experience will be filmed as part of a TV, print and online campaign which will launch this autumn to encourage more people to donate to Oxfam on a regular basis.Oxfam’s Paul Vanags, Head of Public Fundraising explained: “We believe that the most powerful way to encourage more people to give is to show them our work through the eyes of someone impartial who’s never seen it before. This trip will not only offer an experience of a lifetime, it will also form the basis of a major initiative to help us find new regular supporters.”Prospective candidates will need to hold a valid UK passport and be available to travel for up to two weeks in July or August 2012. Recruitment is open from 6-14 June 2012 and Oxfam will be interviewing short-listed applicants on 21-22 June read more

Prepare for Great New Menu Items at Indiana State Fair

first_imgHome Indiana Agriculture News Prepare for Great New Menu Items at Indiana State Fair SHARE Facebook Twitter State Fair new food itemsJust two weeks from Friday when the Indiana State Fair opens again, new featured foods will be available throughout the fairgrounds. That’s as it should be when you realize the 2017 fair theme is THE WONDERFUL WORLD OF FOOD. The Indiana beef producers will be selling the Cattlemen’s Choice, a ribeye steak topped with smoked beef brisket. And Indiana Pork has quite a pork burger entered in the Indiana State Fair “Taste of Indiana” contest.“This year the Indiana pork producers decided that our Peanut Butter Pineapple Pork Burger would be our featured menu item for the Indiana State Fair,” explained Jeanette Merritt, Indiana Pork’s Director of Checkoff Programs. “We went through a lot of taste testing with a lot of different ideas and this is the one that won. Our staff and our concessionaire managers picked this one, and strangely enough it sounds like an odd combination, but it is a great pairing and I think people who go to the fair are going to want to stop by and purchase it.”She says the combination of peanut butter and meat is not totally new.“I have never had peanut butter on a pork burger when I’ve been in a restaurant or out to eat anywhere, however, after we developed this idea we have heard of some restaurants around Indiana, including the Triple XXX Root Beer in West Lafayette and I think Scotty’s in Indianapolis and some of their locations around the state put peanut butter on a hamburger. This idea is somewhat like a Tai dish because sometimes you’ll see noodles with peanut butter and pork in it, and we thought throwing the pineapple and all of it together would be a great combination.”The Peanut Butter Pineapple Pork Burger will be available at all three Indiana Pork tents during the fair.If you plan on dessert following your main meal, the Dairy Bar has a brand new milkshake.“This year’s new milkshake will be the root beer float milkshake,” said Jenni Browning with American Dairy Association, Indiana. “That’s exactly what it tastes like just like your favorite root beer float. We try to do a new shake each year but we’ll still have our old favorites back, strawberry, vanilla and chocolate, but if you are a root beer float fan you’ll enjoy it.”Browning added the flavor is mild enough that you might even enjoy if you’re not a particular fan of the standard root beer float.Their Dairy Bar is also featuring the new Mousetrap grilled cheese sandwich.“It was the winning grilled cheese sandwich from the Ultimate Grilled Cheese contest at the state fair last year, and the creator of this grilled cheese is Andrew Kuehnert, a dairy farmer from Fort Wayne, Kuehnert Dairy Farm. His creation is on Texas toast, has Colby cheese, cheddar cheese and Havarti.”The Indiana State Fair runs August 4-20, 2017. By Andy Eubank – Jul 17, 2017 Prepare for Great New Menu Items at Indiana State Fair Facebook Twitter SHARE Previous articleLiquidation Could End with New Crop StressesNext articleMorning Outlook Andy Eubanklast_img read more

Horoscope: April 15, 2021

first_imgHoroscope: April 30, 2021 Twitter Tamia Banks Tamia Banks printA baby born today has a Sun in Aries and a Moon in Taurus until 2:34 a.m., when the Moon enters Gemini.HAPPY BIRTHDAY for Thursday, April 15, 2021:Free-thinking, assertive and self-assured, follow your dreams no matter how challenging they seem. This year, you show those who underestimated you a thing or two. Watch your tendency to become a workaholic. Make time for recreational family activities. A steady income with an occasional bonus will let you plan ahead seamlessly. If single, a casual friendship takes a serious turn. If attached, love always wins an argument. CAPRICORN is loyal.The Stars Show the Kind of Day You’ll Have: 5-Dynamic; 4-Positive; 3-Average; 2-So-so; 1-DifficultARIES (March 21-April 19)★★★★Community issues and concerns may take you by surprise. An online meeting or town hall will clarify the situation. Offer your assistance, but only allot time you can spare. Prepare for a visit from out-of-town relatives. Tonight: Share music recommendations.TAURUS (April 20-May 20)★★★★Keep an eye open for garage sales. Think about organizing one of your own. It is not easy to let go of items that have sentimental value. A friend not attached to your possessions can start the process. Tonight: Practical chores.GEMINI (May 21-June 20)★★★★Throw modesty to the wind. Toot your own horn and show off an accomplishment or milestone. Shop with a friend at a local or online mall. Go a little crazy but don’t break the bank. Tonight: An indulgent meal.CANCER (June 21-July 22)★★★Put your money where your mouth is. Try your hand at that artistic endeavor you’ve been doing in dribs and drabs. A class or instructor will allow you to finesse your talent. Show off what you’ve done. Tonight: Lazy evening.LEO (July 23-Aug. 22)★★★Streamline membership organizations for which you pay monthly dues. Eliminate those whose meetings you do not attend and whose publications you do not read. Join an alumni online group and track down classmates with whom you lost touch. Tonight: Exercise video.VIRGO (Aug. 23-Sept. 22)★★★★Your need to be in charge serves you well. Present your vision tactfully to people with whom you work or volunteer. Given your powers of persuasion, they will embrace your ideas and weave them into a current project. Tonight: Romantic plans.LIBRA (Sept. 23-Oct. 22)★★★★Declutter your home office or the room where you go online. Clear shelves of books you won’t read again. Donate them to a charity that makes house calls. Save the space for reference materials that are not digital. Tonight: Group dancing.SCORPIO (Oct. 23-Nov. 21)★★★Competing gets your juices flowing. Ask your children and grandchildren to show you how to play the latest brain teasers. Organize a friendly game night between multiple generations. Stock up on finger foods and have fun. Tonight: Movie night.SAGITTARIUS (Nov. 22-Dec. 21)★★★Avoid a debate with someone whose ideas you will never change. Forge a new bond with someone who shares your ideas about love and life. Take things slowly, and your connection is more likely to blossom. Tonight: Select new podcasts.CAPRICORN (Dec. 22-Jan. 19)★★★You could be affected by a sad story, so keep tissues handy. You will feel the urgency to do something altruistic. Consider adopting a rescue animal from a shelter, or post photos of furry friends in need. Tonight: Gossip with friends.AQUARIUS (Jan. 20-Feb. 18)★★★★★Enjoy the fresh air. Take a detour on a daily walk or run. Visit a local museum or gallery. If there aren’t any nearby, then go online. The world of art is at your fingertips. Tonight: Step up your fitness routine.PISCES (Feb. 19-March 20)★★★Let people you love know how much you appreciate them. Prepare a favorite meal, give them compliments or buy a gift mentioned in passing. Plan a get-together with friends who are part of your extended family. Tonight: Book club.Born today: Artist Leonardo da Vinci (1452), singer Bessie Smith (1894), actor Seth Rogen (1982) Tamia Banks Linkedin Horoscope: April 29, 2021 Facebook ReddIt Linkedin + posts Facebook Horoscope: May 1, 2021 Previous articleThe Skiff: April 15, 2021Next articleWhat we’re reading: Johnson and Johnson vaccine remains on hold, officer charged in Minnesota Tamia Banks RELATED ARTICLESMORE FROM AUTHOR Twitter Horoscope: April 29, 2021 Horoscope: April 28, 2021 Horoscope: May 1, 2021 Tamia Banks Horoscope: April 30, 2021 Horoscope: May 2, 2021 Horoscope: May 2, 2021 Tamia Banks ReddItlast_img read more

State Capitol Ceremony Honors Local Community Activist

first_img Assemblymember Chris Holden (D-Pasadena) and the California Legislative Black Caucus will honor community activist Dolores Hickambottom at a special ceremony in the State Capitol on Monday. She will be recognized as an “Unsung Hero of the Civil Rights Movement” for her lifetime of advocacy for social, political and educational opportunities for all.“During this month when we celebrate Black History, we pay tribute to the extraordinary contributions of citizens such as Dolores Hickambottom whose actions helped to integrate the Pasadena public schools and whose continuing activism improves the quality of life for all,” said Assemblymember Holden.The 50-year Altadena resident has been a tireless advocate for equal opportunity since her days as a mother of four who was deeply involved with Pasadena public schools. She has been active in campaigns for civil rights, women’s rights, family issues and education and was instrumental in establishing the Pasadena Educational Foundation in 1971. She was also a founding member of the Pasadena City College African-American Advisory Board and is active in Mustangs on the Move at Muir High School.Many in the community will remember her earlier efforts in helping to elect Pasadena’s first female Mayor, Loretta Thompson Glickman, who was also African-American. She went on to serve as the Mayor’s field representative and later served on the staffs of State Senators Walter Stiern, Richard Polanco and Jack Scott.Hickambottom is a U.S. Army Veteran who served during the Korean War and serves on the Los Angeles board of the Tuskegee Airmen. She is a graduate of Pasadena City College and Cal State University Los Angeles. Your email address will not be published. Required fields are marked * Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPasadena Water and PowerPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Business News Subscribe EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS 2 recommended0 commentsShareShareTweetSharePin it Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Top of the News Name (required)  Mail (required) (not be published)  Website center_img Government State Capitol Ceremony Honors Local Community Activist Published on Sunday, February 9, 2014 | 10:15 pm Community News Community News Make a comment Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday First Heatwave Expected Next Week Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Herbeauty6 Fashion Trends You Should Never Try And 6 You’ll LoveHerbeautyHerbeautyHerbeautyA Mental Health Chatbot Which Helps People With DepressionHerbeautyHerbeautyHerbeautyInstall These Measures To Keep Your Household Safe From Covid19HerbeautyHerbeautyHerbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeautyHerbeautyWeird Types Of Massage Not Everyone Dares To TryHerbeautyHerbeautyHerbeauty’First Daughters’: From Cute Little Kids To Beautiful Young WomenHerbeautyHerbeauty More Cool Stufflast_img read more

DAILY OIL PRICE: May 7, 2021

first_img DAILY OIL PRICE: May 7, 2021 Facebook Twitter Pinterest Twitter WhatsApp Crude Oil: 64.90  (+0.19).Nymex MTD AVG:  64.7089.Natural Gas: 2.958   (+0.030).Gasoline: 2.1269   (+0.0132).Spreads: June/July   (+.02)   July/August   (+.17).Plains WTI Posting: 61.38   (+0.19) TAGSOil Prices center_img Facebook WhatsApp By Odessa American – May 7, 2021 Local NewsIn the Pipeline Pinterest Previous articleSubaru’s Share the Love Check PresentationNext articleUS rig count up eight as prices continue to climb Odessa Americanlast_img read more

Housing Reform: Step by Step

first_img Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Previous: DS5: Discussing the Fed’s Plan for Mortgage-Backed Securities Next: Wells Fargo Names New Head of Operations  Print This Post GSE Reform has been a hot-button issue since the GSEs were put into conservatorship over a decade ago, and rightfully so. The housing and housing finance markets continue to evolve. While demand for homeownership remains high, many borrowers are coming to the market with increased amounts of student loan debt and a job market that is increasingly being shaped by the emerging gig economy. Much has been written about the lack of available housing inventory, especially at a price point geared toward first-time homebuyers. The housing market has had a good, extended run since we turned the corner from the Great Recession, but many economists are sounding warning bells about potential bubbles, and now the latest news on the global economy is less than stellar.Even if you believe that there are no impending challenges to the housing market, it does not follow that reform isn’t needed. It is indeed very much needed. Simply consider the changes we’ve seen to the job market, to student lending, and to the demographics of potential homebuyers, just to name a few. However, despite the constantly evolving market, it does not appear that legislative reform is imminent. That does not mean that reform is not happening—it is happening on an almost daily basis via regulatory actions.Regulators are stepping into the void and taking actions that could have immediate and material impact on the housing market. In this environment, it is important that legislators and policy makers watch closely to make sure that regulatory changes further the important objectives of ensuring a stable housing market with access to affordable, sustainable mortgage lending for home-ready borrowers, protecting taxpayers, promoting stability in housing finance, and fostering transparency. If each of these four principles is kept at the center of the discussion, we will be able to move forward as an industry in a much more stable and positive way, benefiting all of our customers, whether they are homeowners, homebuyers, or taxpayers.I. Protect Taxpayers—A priority of any housing reform plan should be to promote private capital taking first loss risk ahead of any taxpayer exposure to mortgage defaults. Ensuring that private capital takes the first risk of loss at the time a loan is made must be a feature of any housing reform proposal. Regulators must be careful of proposals that downplay the role of private capital in the name of innovation, especially when we are in the midst of the longest economic expansion in the last 70 years.II. Promote Stability—There is broad agreement on the importance of maintaining a stable market for the 30-year fixed rate mortgage, which is encouraging. While the ultimate goal would be legislation that provides an explicit government guarantee covering credit losses, much can be done today. In particular, regulators should be working to set, and supervise, mortgage lending and servicing standards that promote stability. Examples of regulatory oversight include review of the types of products being offered and syncing up standards so that one segment of the market does not have an incentive to start a “race to the bottom” on lending. As the Federal Housing Finance Agency continues to work on a revised Enterprise Capital Framework proposal, the Agency should be mindful of the impact the new Framework will have, not only on the GSEs, but on the market as a whole. Either too much or too little capital could be very disruptive.III. Ensure Access—Access to mortgage finance for creditworthy borrowers and participation by lenders of all sizes is significant when you are talking about taking next steps and how to best move forward in the future. Loan-level credit enhancements can facilitate low down-payment lending to creditworthy borrowers, especially when placed on mortgage loans before they are guaranteed by the federal government. To ensure lenders of all sizes and types can participate in the market, all lenders should have access to the same fees and origination costs. Also, the GSEs have made great strides in technology while in conservatorship. As housing reform advances, we need to make sure that the entire market benefits from the advances that the GSEs have made, not just particular pockets of the market.IV. Foster Transparency—A key to a stable and robust future housing market will be transparency and clarity around underwriting, capital standards, and loan performance. Real transparency will help ensure that all borrowers are offered the best product at the best price. Similarly, transparency will enable market participants—lenders, servicers, mortgage insurance providers, and investors—to ensure that they are being held to standards that are consistently applied across industries, to avoid picking winners and losers. The GSEs have decades and decades of data that would benefit the overall market, and as technology advances, the amount of data available will only increase. Similarly, greater insight into the engines that drive much of today’s underwriting—Loan Prospector and Desktop Underwriter—would enable the broader market to not only understand credit policy, but to assess it as it evolves. Eventually, this transparency could encourage other mortgage guarantors to enter the system.THEN AND LATERAt this point, you may be asking yourself, “So, what might housing reform look like in a world where Congress is unlikely to act in the near term?” That is a thoughtful and honest question, and to be frank, regulators have tremendous power to shape, or reshape, the housing market. That kind of regulatory reform is happening today. Among the initiatives currently under consideration at the Federal Housing Finance Agency, the Consumer Financial Protection Bureau, and the Securities and Exchange Commission alone are the impending Enterprise Capital Framework coming from the Federal Housing Finance Agency, the Qualified Mortgage Notice of Proposed Rulemaking (expected to be published by May), and reconsideration of disclosure requirements under Regulation AB at the Securities and Exchange Commission.Each of these would have a major impact on cost and availability of mortgage lending. As regulators continue moving forward on significant structural changes, we as professionals and leaders in the housing market should keep a close watch to see how these initiatives stack up against the four principles outlined above and be vocal in our advocacy. This kind of oversight is especially important because of the complicated and interconnected nature of the housing finance market. We do not want to be in a position where we take our eyes off the ball, lose our place, and then wonder where things went awry.Housing markets are driven by an almost unlimited number of factors: global and domestic monetary policy, global climate trends, population shifts, changes in job markets, technological innovations and advancements, the cost and availability of raw materials, the attractiveness of competing asset classes for investors, consumer confidence levels, and the list goes on and on. In a perfect world, Congress would tackle housing reform in a way that considers the complexity and interconnections of the housing market, so the possibility of adverse unintended outcomes would be mitigated.Another question you may be wondering about is, “How should we think about reform at a time when it is most likely to happen via regulatory action?” First and foremost, regulatory actions should be measured against the four principles of housing reform. Let’s take a look at bank risk-based capital as a purely hypothetical example. Imagine if bank regulators significantly reduced the amount of capital their institutions needed to hold against mortgaged risk. A move like that would have obvious implications for regulated banks. Just as important, it would also have implications for the GSEs, the Federal Housing Administration, nonbank mortgage lenders, mortgage insurers, homebuilders, and virtually every participant in the housing finance system.These implications are not lost on regulators. However, with the possible exception of the Federal Reserve, no regulator is charged with a mandate to assess regulatory changes against any set of principles, let alone the four principles of housing reform outlined above.To overcome this shortcoming while we wait for Congress to take up legislative reform, why shouldn’t we consider a simple framework that could be used by the key housing regulators (United States Department of Housing and Urban Development, Federal Housing Finance Agency, Consumer Financial Protection Bureau, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Federal Reserve) to help ensure that decisions are being made in a consistent and coordinated way when it comes to housing related matters? If executed in the appropriate manner, a principles-based framework could simplify and streamline regulatory activity. It also would create an informal but effective way to drive coordinated policy and avoid creating opportunities for regulatory arbitrage. Ultimately, this framework could serve as a starting point for developing a legislative reform package that would include a means to formalize inter-regulator cooperation and collaboration.At the end of the day, the central point of the housing reform discussion is all about ensuring that the market and economy remain stable, consumers are protected, transparency is maintained, and access to affordable homeownership for all Americans is not compromised or diminished. If we, as businesses, regulators, legislators, policy makers, and advocates, can keep this common vision at the forefront of each reform conversation and step, we can make great strides in advancing housing reform—today and going forward. Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News, Print Features Share Save Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Rohit Gupta is President and CEO of Genworth’s U.S. Mortgage Insurance Business, where he works with lenders, regulators and policy leaders to advocate for the value of mortgage insurance to a sustainable housing finance system. Along with his advocacy, Gupta served as Chairman and remains a board member of the U.S. Mortgage Insurers trade association. He also serves on the Boards of the Mortgage Bankers Association Residential Board of Governors and Housing Policy Executive Council. Additionally, Gupta is a catalyst for community change and serves as a Board member of the Genworth Foundation Board, American Cancer Society Triangle Leadership Council and Pratham USA. The statements provided are the opinions of Rohit Gupta and do not reflect the views of Genworth or its management. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Housing Reform: Step by Step The Week Ahead: Nearing the Forbearance Exit 2 days ago April 28, 2020 2,097 Views Tagged with: GSE Reform About Author: Rohit Gupta GSE Reform 2020-04-28 David Wharton Home / Daily Dose / Housing Reform: Step by Step The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

21-year-old man charged after attempted kidnapping in Derry

first_imgNews RELATED ARTICLESMORE FROM AUTHOR Previous articlePublic meeting in Gweedore on Monday over AIB closureNext articleSadness as local Letterkenny businessman passes away News Highland Pinterest Guidelines for reopening of hospitality sector published Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Facebook A 21-year-old man has been charged with false imprisonment, kidnapping and assault in Derry.It is understood the charges are in connection with an assault on a 19-year-old woman at Eskaheen View, Derry, at about 5 o clock yesterday evening.She was put into a van which was driven towards Newbuildings. Police stopped the van a few minutes later. The woman was returned to her family.Her injuries were not life-threatening.A 21 year old man has been arrested in connection with the incident but police would be very keen to hear from anyone who may have witnessed this incident.Anyone with any information is asked to contact Strand Road Police Station on 0845 600 8000.The man is due to appear before the city’s court tomorrow. Pinterest WhatsApp Google+center_img Facebook Calls for maternity restrictions to be lifted at LUH Google+ 21-year-old man charged after attempted kidnapping in Derry By News Highland – July 29, 2012 Twitter Twitter Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Need for issues with Mica redress scheme to be addressed raised in Seanad also LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton last_img read more