The Week Ahead: GSEs Prepare to Launch UMBS

first_imgHome / Daily Dose / The Week Ahead: GSEs Prepare to Launch UMBS The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Fannie Mae Freddie Mac UMBS Fannie Mae and Freddie Mac will launch their uniform mortgage-backed securities (UMBS) on Monday, June 3.Regarding the combined bond from the GSEs, a report by Bloomberg stated that this change would “virtually eliminate the distinction between bonds issued by Fannie Mae and Freddie Mac, which guarantee nearly half of U.S. residential mortgages,” with the combined security intended to help improve market market liquidity and mitigate investor risk.While some believe this change will lower mortgage rates, critics argue the opposite may happen. Some see the combined bond as “more than five-year process to unify a roughly $4.4 trillion pile of agency MBS currently split between the two government-sponsored enterprises.”“It already was the most liquid market in the world in many respects. What are they trying to fix, exactly?” Walt Schmidt, Head of Mortgage Strategies at FTN Financial in Chicago, told Bloomberg.The final outcome can’t be determined until the combined bonds launch.“To some extent June 3 will be a bit analogous to Y2K, you don’t know if everything will be successful until after the fact,” Jay Bacow, head of Morgan Stanley’s MBS research team, told Bloomberg. He added that “the mortgage market is second to Treasuries in terms of fixed-income liquidity and it’s challenging for us to see it losing that distinction under UMBS (Uniform Mortgage Backed Securities).”In April, Freddie Mac announced that its Investor Reporting Change Initiative (IRCI) would revise single-family investor reporting requirements beginning in May 2019, including moving the investor reporting cycle from mid-month to end-of-month and updating remittance cycles.The GSE states that it is making the changes to promote alignment and industry standards for the UMBS. In March, the Federal Housing Finance AgencyHere’s what else is happening in The Week Ahead:Black Knight Mortgage Monitor—June 3CoreLogic Home Price Insights Report—June 4Ellie Mae Millennial Tracker—June 5Banking, Housing, and Urban Affairs Nomination Hearing—June 5Bureau of Labor Statistics Labor Date—June 7 Subscribe The Best Markets For Residential Property Investors 2 days ago Previous: Mortgage Servicing: Trends and Challenges Next: Morningstar Completes DBRS Acquisition Demand Propels Home Prices Upward 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, News  Print This Post The Week Ahead: GSEs Prepare to Launch UMBS Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Fannie Mae Freddie Mac UMBS 2019-05-31 Mike Albanese Related Articles May 31, 2019 1,392 Views Share Savelast_img read more

Gorge-ous: Exploring the New River Gorge

first_imgThe New River Gorge in southern West Virginia is, in a word, deep. The second oldest waterway in the world cuts a gash that dives into the very heart of the Appalachian Mountains, exposing veins rich with minerals and the pockmarks of the settlers who came to extract them. The New River Gorge comprises 53 miles of the New River running south to north and includes over 70,000 acres of outdoor nirvana.The main attraction is the New River itself, a force so powerful it literally moved the Appalachian Mountains as they grew up around it. Today, the river is no less of a force, but that does not stop thousands from flocking to its Class III-V rapids every summer. The same river that exposed the vast seams of coal also exposed the Nuttall sandstone, renowned by climbers as some of the finest rock in the U.S.hikingThe gorge holds over 80 miles of trails ranging from steep mountain scrambles to leisurely boardwalk strolls. One of the longest and most diverse trails in the Gorge is the Kaymoor Trail, a forested trail with spurs to the abandoned Kaymoor Mine site as well as the popular Craig Branch Trail. This system can also be accessed from downtown Fayetteville. Cross over to the other side of the New to access the Endless Wall Trail, which parallels the top of one of the most popular climbing spots in the Gorge. Beautiful views compete with the scenes of climbers scaling the 150 foot walls of Endless. Time it right to finish strong at one the town’s quirky dining options like Pies & Pints or Secret Sandwich Society.Follow the river south through historic Hinton on the way to Big Branch Trail, an intense wooded loop that climbs several hundred feet providing scenic views of the river gorge. Randall Sanger, co-author of West Virginia Waterfalls: The New River Gorge likes this hike for its several creek crossings, abundant wildflowers and tumbling waterfalls. The stunning vistas and an abandoned farmstead on the high ridge make this burner worth it.bikingIn 2011, a group effort between the National Park Service, International Mountain Bicycling Association (IMBA), and the Boy Scouts produced the new Arrowhead Trail system. With IMBA providing the expertise and over 1,000 Scouts providing the labor, the effort resulted in over 14 miles of buttery singletrack in just over a month. The stacked looped system is geared toward beginner to intermediate riders, but with flowy terrain and no huge climbs, even the most advanced rider will have a ball. Stop into Marathon Bikes in Fayetteville where Arrowhead ambassador Adam Stephens will provide you with detailed maps and additional beta.The Arrowhead Trail system is a crown jewel for the National Park Service, and an effort to duplicate the process on public land in the future is underway.fishingThe New River is one of the Southeast’s great warm water fisheries, holding largemouth and smallmouth bass that can be taken on the fly with poppers, gurglers and Clouser minnows. The New also provides prime habitat for the “Fish of 1,000 Casts,” the camera-shy musky; look for them in the deepest pools. There are several outfitters in the area that provide day and float trips on numerous parts of the river.Several tributaries of the New run cold and clear and are stocked each spring with brook, rainbow, brown and the somewhat surreal looking golden rainbow trout. Meadow, Dunloup and Mill creeks all hold fish, but Glade Creek in the middle portion of the park is the best option. The easy-walking Glade Creek Trail runs upstream three miles, paralleling the beautiful, free-flowing waters of the Glade. Huge boulders, deep pools and waterfalls make for a heavenly setting for wetting a line. Bring a 3 or 4 weight and pitch your tent at the Glade Creek campground to hit the water early in the day.Events11th Annual New River Gorge-ous Trail RunOctober 27This trail race put on by ACE Adventure Resort features a 13.2- or 7.5-mile run or a 4.5-mile walk through the gorge and historic Fest September 14-16Held on the third weekend in September since 1983, this is the largest paddling festival in the world, on one of the South’s gnarliest rivers.americanwhitewater.orgBridge Day October 20Thrill seekers flock from all over the U.S. to celebrate the only day when they can legally bungee, BASE, or otherwise hurl themselves from the New River Gorge Bridge.NO NEW RIVER RENDEZVOUS IN 2012!Bridge DayBASE jumpers began poaching the New River Gorge Bridge in 1979, just two years after its completion. In 1980, local council members decided to host an event celebrating the bridge and bringing attention to the area’s outdoor recreation industry: Bridge Day was born and drew over 40,000 people to the area that first year. Today, the event attracts BASE jumpers from all over the world and hundreds of thousands of spectators.Over the years, Bridge Day has evolved into the largest gathering of BASE jumpers in the world and includes vending tents, accuracy contests, and is carried on live TV. Spectators are permitted to walk the length of the bridge and watch as jumpers leap from the edge, creating a carnival-like atmosphere, only at the top of the Ferris wheel, not on the ground. Festivalgoers can even sign up for a tandem BASE jump with a seasoned professional.In 2007, 377 jumpers made a record 876 BASE jumps from the bridge.For more information, go to read a great article about local paddling events from our May issue? Then click here!last_img read more

Big East : South Florida win highlights undefeated start for Big East

first_img Published on September 5, 2011 at 12:00 pm Contact Ryne: [email protected] Comments Facebook Twitter Google+center_img Skip Holtz couldn’t have written a better start to the season. Not even two weather delays could spoil the South Florida head coach’s return to his alma mater, Notre Dame.Despite his defense allowing 508 total yards to the Irish and the offense scoring just one touchdown, the Bulls came away with a win behind five forced turnovers.‘I said we couldn’t have written a better script,’ Holtz said in the Big East coaches’ teleconference Monday. ‘I don’t think we played very well in a lot of respects, and there were other things I thought we did a great job of.’South Florida was far from perfect, but nonetheless impressive in its 23-20 win at Notre Dame on Saturday. The Bulls overcame two weather delays totaling two hours and 53 minutes to secure the most notable win by a Big East team to open the season. USF is now ranked No. 22 in the Associated Press Top 25.The win also caught the attention of many around the conference as the marquee victory on a weekend when Big East teams went 8-0.AdvertisementThis is placeholder textHoltz is hoping the win will serve as a launching pad for this team to do something past USF teams couldn’t do. The head coach wants to see the Bulls become competitive in the Big East, as USF has finished each of the last three seasons with a losing conference record.And though many head coaches are cautious about reading too much into the first week, winning games in the Big East will be no easy task for the Bulls or any other team. The conference’s undefeated start serves as a sign of parity in the conference.‘You better be disciplined about what you’re doing because you’re playing a bunch of close football games,’ Pittsburgh head coach Todd Graham said in the teleconference. ‘And this is no doubt a competitive league.’No team made a stronger first impression than USF.The Bulls scored early on a fumble recovery for a touchdown to take a 7-0 lead. USF then tacked on three field goals, and Notre Dame missed multiple opportunities to score due to penalties and turnovers.USF’s controlled play coupled with Notre Dame’s mistakes gave the Bulls a 16-0 lead at the half.Then lightning struck, Notre Dame Stadium was evacuated and the game was delayed for two hours and 10 minutes.It was the first weather delay in Notre Dame’s 123-year history. And Holtz said it’s something a team can’t prepare for. But his team did have some practice during training camp in Vero Beach, Fla., when its first scrimmage was delayed 90 minutes by lightning.Saturday, Holtz and his players repeated exactly what they did Aug. 13 to stay loose during the delay at Vero Beach Sports Village. The players took their shoulder pads and shoes off and lay down in the locker room, staying relatively quiet and focused on the game.‘I didn’t want it to be a locker room where everybody took a naptime,’ Holtz said. ‘But at the same time I didn’t want it to be Comedy Central where everybody was just joking around. So I thought they were very mature about it.’Expecting a 10-minute warning, the team’s focus was jolted when the Bulls were suddenly told Notre Dame was out on the field ready to resume action. Five minutes of chaos ensued as the players put their pads and shoes back on and returned to the field.Holtz felt the team was affected by the abrupt return from the first delay. Notre Dame cut the lead to 16-7 with the only score in the third quarter. USF pushed the lead back to 16 early in the fourth quarter and led by 10 when the second delay was called with 4:21 to play.Holtz said he was proud of how his team handled the adversity. Throughout the day, the head coach reminded his players how long they had prepared for this game.‘We kept talking about how we train one month a year for a game,’ Holtz said. ‘And so with it being, whether this is a three-hour focus, a five-hour focus, an eight-hour focus, let’s stay focused on it because of the preparation and the work we’ve put into this game.’USF did stay focused enough and held off Notre Dame after the 43-minute delay for the three-point win.Connecticut head coach Paul Pasqualoni was impressed with the Bulls after catching a glimpse of the game Saturday night.‘They looked fast and they looked very, very well-coached and very well prepared,’ Pasqualoni said.  But after watching the film of the game on Sunday, Holtz and his players saw they have a lot to work on fundamentally. Though the script couldn’t have been written any better, USF’s execution could have been. And Holtz knows his team must improve that if it wants to compete in the Big East.‘They realized how much better that we can get as a program and how much more we need to improve as we go forward if we want to compete at that level week in and week out,’ Holtz said.West Virginia’s opener cut shortNo. 19 West Virginia defeated Marshall 34-13 on Sunday to finish the Big East’s undefeated weekend. The Mountaineers and Thundering Herd played just over three quarters before the game was called due to lightning and heavy rain with 14:36 remaining in the game. Quarterback Geno Smith played well in the win, completing 26 of 35 passes for 249 yards and two [email protected]last_img read more

Police: Florida Child Apparently Shoots, Kills Self

first_imgPolice in St. Petersburg, Florida, are investigating, after a 5-year-old boy there was allegedly shot and killed over the weekend.Authorities say they received a call at 2:27 p.m. on Saturday concerning a child who was shot.When officers arrived, they indeed found the child suffering from a gunshot wound.The boy was transported to All Children’s Hospital, where he later died from his injuries.According to police say, preliminary information indicates that the child accidentally shot himself.Investigators are continuing to look into the incident.last_img