Freddie Mac Resumes Risk Sharing in 2016 Where Last Year Left Off

first_img Share Save Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. January 5, 2016 1,168 Views Credit Risk Transfer Freddie Mac STACR Program Structured Agency Credit Risk Program 2016-01-05 Brian Honea The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post in Daily Dose, Featured, News, Secondary Market Freddie Mac Resumes Risk Sharing in 2016 Where Last Year Left Off Previous: Will Existing-Home Sales Bounce Back from the Recent Disappointment? Next: How Does the SFR Market Look Going into 2016? The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Freddie Mac Resumes Risk Sharing in 2016 Where Last Year Left Offcenter_img About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Credit Risk Transfer Freddie Mac STACR Program Structured Agency Credit Risk Program The Best Markets For Residential Property Investors 2 days ago Freddie Mac’s Structured Agency Credit Risk (STACR) series, which began in mid-2013 as a way to reduce the Enterprise’s exposure to credit risk and bring private investors back into the single-family mortgage market, has picked up in 2016 right where it left off in 2015.According to a press release issued on Tuesday, Freddie Mac has announced its intention to sell its first STACR debt notes offering of 2016, STACR Series 2016-DNA1, which is valued at $996 million. It is the 17th STACR offering since the program began two and a half years ago.The offering consists of a reference pool of recently acquired single-family mortgages with an unpaid principal balance (UPB) totaling about $35.7 billion, according to Freddie Mac. The transaction is scheduled to settle on January 21, 2016.“We have demonstrated our ability to execute credit risk transactions on a regular basis with a standard structure and have been transparent in our disclosures,” said Mike Reynolds, Freddie Mac vice president of Credit Risk Transfer. “Our loans are subject to Freddie Mac’s underwriting standards, internal fraud prevention and quality control review process. We are finding with each issuance that STACR is more diverse, liquid and durable.”The 17 STACR offerings, combined with two Whole Loan Security (WLS) offerings and 14 Agency Credit Insurance Structure (ACIS) transactions, has resulted in the transferring of a substantial portion of credit risk on more than $385 billion of UPB in single-family mortgages backed by Freddie Mac.Freddie Mac was the first agency to market credit risk transfer transactions through STACR, WLS, and ACIS programs. In two and a half years, Freddie Mac’s investor base has grown to include approximately 190 unique investors, which includes reinsurers.Freddie Mac’s fellow GSE, Fannie Mae, has followed Freddie Mac’s lead for credit risk transfer with two programs, the Connecticut Avenue Securities (CAS) Series and the Credit Insurance Risk Transfer (CIRT) program. Through six CIRT transactions since the program’s inception in 2014, Fannie Mae has acquired more than $1.2 billion of coverage on more than $46 billion of loans. Through the CAS Series, Fannie Mae has sold more than $12.4 billion in securities to private investors, which covers $438 billion worth of mortgage loans since the program’s inception in September 2013. Sign up for DS News Daily Subscribelast_img read more

Read more

News story: International Trade Secretary signs major deal allowing export of UK seed potatoes to China

first_img ensuring the UK remains a leading destination for international investment and maintains its number one position for international investment stock in Europe China’s developing taste for chips and crisps will soon be fuelled by British produce, as International Trade Secretary Dr Liam Fox MP secures a deal which enables the UK to export seed potatoes to China.The deal is expected to bring major benefits to Scotland, with around 70% of the 100,000 tonnes of seed potatoes exported annually from the UK coming from Scottish farms. The seed potato export market is already worth an annual £90 million to the UK, with some varieties fetching up to £900 per tonne.China is the largest global consumer of potatoes in the world. As the country’s demand for potato-based foods increases, the humble spud is now China’s fourth staple crop after rice, corn and wheat – with demand increasing at a rapid rate.It follows news that the UK dairy sector is set to receive a multi-million pound export boost, with Dr Fox meeting with the Chinese government to reach an agreement to allow the import of UK dairy products made with milk from third countries into China.The agreement was signed by the International Trade Secretary during his visit to China. Dr Fox is also meeting businesses and senior Chinese government ministers to discuss further trading opportunities between the 2 countries.International Trade Secretary Dr Liam Fox MP said: It’s a real coup to be one of the first western countries able to export seed to China and it’s been achieved through a lot of hard work and the great reputation of UK seed potatoes which are rightly renowned around the world for their high health status and high quality. I expect the Chinese market will be particularly interested in processing varieties used for chips and crisps as there is a big demand for those products. AHDB’s role now will be to develop this new trading relationship through events such as large-scale trade shows where exporters can showcase their varieties and start building business in China. UK Government Minister Lord Duncan said: Rob Burns, Head of Crops Export Trade Development at the Agriculture and Horticulture Development Board (AHDB), said: using trade and investment to underpin the government’s agenda for a Global Britain and its ambitions for prosperity, stability and security worldwide. Rural Economy Secretary, Scotland Fergus Ewing said: supporting and encouraging UK businesses to drive sustainable international growth The rapidly-growing Chinese market offers huge potential for UK farmers. According to research by Barclays, around 60% of people in China would actually pay more for a product, just because they knew it was British. With China expected to have 220 cities with a population of more than a million by 2030, that is a huge market that UK potato farmers will now be able to make the most of. My international economic department is in 108 markets across the world, helping UK businesses to export whilst liberalising international trade by removing barriers to commerce. I’m delighted that this latest deal is set to boost our £67.5 billion trading relationship with China even further. I am delighted that Scottish seed potatoes will now be enjoyed by the biggest producers in the world, the People’s Republic of China. This is welcome news for the Scottish seed potato sector and further recognition of its global renown for producing high quality seed potatoes. The signing of this trade agreement has the potential to lead to its expansion to the rest of the UK, opening up the possibility of market diversification and contributing towards further sustainable growth in the sector. Our food and drink exporters have had great success in recent years in opening and developing new and existing market opportunities, and I am utterly determined to continue to maximise these opportunities by delivering on agreements such as this. In a further move to open-up its agri-food market, China also lifted its 2 decades long BSE ban on the exports of beef from the UK earlier this year – a landmark move for beef producers worth an estimated £250 million in the first 5 years alone.Further informationThe Department for International Trade (DIT) helps businesses export, drives inward and outward investment, negotiates market access and trade deals, and champions free trade. Contact the DIT Media Team on 020 7215 2000Follow us: @tradegovuk, gov.uk/dit opening markets, building a trade framework with new and existing partners which is free and fair Scotland is known for high-quality food and drink exports, and our seed potatoes are renowned for their excellence and breeding through scientific institutions such as the James Hutton Institute in Dundee. Leaving the European Union means we can pursue an independent trade policy, and the quality of our exports will drive new trading opportunities like this one. Linking the world’s largest consumer of potatoes, China, with Scotland’s exceptional potato seed is a welcome next step for the UK on a global stage. We are an international economic department, responsible for:last_img read more

Read more

Van Ghost Releases B-Sides Of ‘I Can’t Hide’ For 10th Anniversary [Listen]

first_img[Photo: Zach Nelson; Album Art: Ed Harris] For nearly a decade, Van Ghost has existed in the shadows; revealing themselves sparingly at select and special engagements from New York City to Costa Rica. The brainchild of Chicago music industry impresario Michael Harrison Berg, the extended Van Ghost band is a familial diaspora sprawling the continental 48; over the years, this collective has tread a roadmap in revival. For their last release, The Ghost Unit, in 2016, the group delivered huge hooks, heavy hearts, and heroic harmonies in abundance, easily walking the line between soulful, funky, and folky without relying on cliches from any of the genres. For The Ghost Unit’s lineup, Berg assembled an all-star crew composed of Jennifer Hartswick, Chris Gelbuda, Natalie Cressman, Ick Cassarino, John Staten, Grant Tye, Chris Chew, and Rob Marscher to record at the legendary Westford, Vermont recording studio, The Barn.Now, Berg and Van Ghost, in celebration of the 10th anniversary of I Can’t Hide, are releasing the B-side cuts from that first album that started it all. Many of the usual suspects make it on the cut, including Jennifer Hartswick and Chris Gelbuda, though, as is the beauty of Van Ghost, the crew is malleable, with artists coming in and out over the years. You can take a listen to the 10th anniversary B-sides of Van Ghost’s I Can’t Hide here.last_img read more

Read more