Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Fannie Mae and Freddie Mac Post Q2 Earnings The Best Markets For Residential Property Investors 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The U.S. government is set to see another $5.6 billion from Fannie Mae and Freddie Mac as both GSEs continue to post solid earnings.Both companies released on Thursday their earnings reports for the second quarter, reporting subdued profits compared to recent quarters as settlement earnings and other previous one-time benefits subside. In 2011, the Federal Housing Finance Agency, acting as conservator for Fannie and Freddie, brought lawsuits against 18 banks for their alleged roles in bringing down the GSEs’ portfolios with bad loans. The majority of those cases are now settled, leaving little for the companies to collect going forward.Those cuts in one-time earnings were offset in part by rising home prices and improvements in credit quality.For its part, Fannie Mae took in $3.7 billion in profits through the quarter, all of which will be handed to the Treasury per the terms of the GSEs’ bailout in 2008. Freddie Mac, which reported $1.4 billion in net income, will return $1.9 billion to the government.By September, the two mortgage giants will have paid a combined $218.7 billion back to the Treasury, more than $30 billion more than the amount they’ve drawn since their bailout. Under their amended agreement, dividend payments will continue to go on as the government maintains its controlling stake in the companies.How long that situation will continue is still undecided as policymakers—from Congress to the White House—push to reform the secondary market and bring in more private capital. While recent housing finance reform bills have made some headway in committee, debates over how to proceed have stalled any further progress, and no major moves are expected this year.Meanwhile, shareholders for the GSEs, spurred by their recent profitability, continue to pressure the companies and the government for their cut. The Week Ahead: Nearing the Forbearance Exit 2 days ago Fannie Mae Freddie Mac 2014-08-07 Tory Barringer Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Related Articles Sign up for DS News Daily Fannie Mae and Freddie Mac Post Q2 Earnings Tagged with: Fannie Mae Freddie Mac The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: DS News Webcast: Thursday 8/7/2014 Next: Three Charged in Massive Mortgage Modification Scam August 7, 2014 1,128 Views Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News About Author: Tory Barringer Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Print This Post
Some of South Florida’s finest turned out at the Hyatt Regency Hotel in Fort Lauderdale on April 29, for the second Protect The Children Gala.Presented by the Female Development World Organization (FDWO) and Kiwanis Club of Lauderhill, four persons were honored for tireless work tackling sexual child abuse.They are Pastor Marcus Davidson, who received the International Leadership Award; Juliet Murphy Roulhac, recipient of the Humanitarian Award and Barbara Weinstein who accepted the Protect the Children Freedom Award.Juliet Holness, wife of Jamaican Prime Minister Andrew Holness and the evening’s keynote speaker, was the first recipient of the Dr. Rita Marley Ambassador Award.Roulhac, a Kingston-born attorney who has lived in South Florida since she was 15, said the recognition is gratifying.“This inspires us to keep on doing important work,” she told the audience.Holness is founder of the Save Our Boys And Girls Foundation, which helps educate and empower impoverished children in Jamaica.She lauded the FDWO’s efforts to reduce child abuse. For her, talking is not enough.“As my husband always says, implement, implement, implement. Over the years, successive governments have failed to implement,” said Holness.The function was well-attended. Guests included Rita Marley, widow of reggae legend Bob Marley; City of Miramar Mayor, Wayne Messam; Broward County Commissioner Dale Holness; and Franz Hall, Jamaica’s Consul General to Miami.
The West African Examination Council’s (WAEC) Monrovia office announced yesterday that it will begin to administer this year’s WAEC exams to 12th graders across the country from Monday, June 27 to Friday, July 1.The head of the Monrovia office, John Y. Gayvolor Sr., had on previous occasions maintained that the tests will be administered as scheduled.“WAEC registers candidates for Schools and Private Examinations, while the School Examination is May/June, with the Private Candidates Examination being November and December. Private candidates are students who previously sat the test but failed to obtain the required average,” Gayvolor said. This year’s exam has been embroiled in uncertainty, coupled with the reported leak of exam papers leading to the rescheduling of the exams.Dele G. Gboto, WAEC Head of Test Administration, meanwhile, advised all registered 12th graders “to prepare themselves and go to the selected testing centers carrying with them pencils and pens only, but nothing else, especially electronic devices, as doing so will disqualify any candidate caught.”Accordingly, the Ministry of Education (MOE) in collaboration with WAEC said it is constrained to inform the public that the Liberia Senior High School Certificate Examination (LSHSCE) will also be administered from Monday, June 27 to Friday, July 1.The ministry said education stakeholders including parents, candidates, school authorities, and the public, are advised to adhere to the examination dates, which remain unchanged.WAEC, said Gboto, “is very confident of administering the exams from June 27 to July 1.”MOE has also notified all 12th graders that no school administration or candidate will be charged for the re-run of the exam.MOE further advised that “there will be no collection of flexibility fees; candidates should not be denied their WAEC identification card (ID) number for not paying project fees; candidates are encouraged to abide by all rules and regulations governing the exams.” The excitement of thousands of 12th graders died down recently when it was announced that the WAEC examination was cancelled, “because test materials had been stolen from their location at the Konola SDA high school campus.”Following the stunning disclosure, the MOE in collaboration with WAEC Monrovia office set the new dates for the exams from June 27 to July 1. The Liberia Senior High School Certificate Examination (LSHSCE) is administered to candidates who were not successful in their first sitting at the LSHSCE either in the May or the December examination, and private candidates who can demonstrate proof of completing the 12th grade curriculum as prescribed by the Ministry of Education. The actual date for the examination is communicated to the candidates through circular and public service announcements. Subjects to be offered for the examination are grouped into three categories, Core, General and Science Subjects.The Core (Compulsory) Subjects are: Subject CodeEnglish Language 101Mathematics 301The General Subjects comprise of:Economics 201Geography 202History 203Literature-in-English 204The Science Subjects comprise ofBiology 401Chemistry 402Physics 403Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
WASHINGTON (AP) – The White House on Tuesday sidestepped questions about whether Vice President Dick Cheney passed on to his top aide the identity of a CIA officer central to a federal grand jury probe. Notes in the hands of a federal prosecutor suggest that Cheney’s chief of staff, I. Lewis “Scooter” Libby, first heard of the CIA officer from Cheney himself, The New York Times reported in Tuesday’s editions. A federal prosecutor is investigating whether the officer’s identity was improperly disclosed. The Times said notes of a previously undisclosed June 12, 2003, conversation between Libby and Cheney appear to differ from Libby’s grand jury testimony that he first heard of Valerie Plame from journalists. “This is a question relating to an ongoing investigation and we’re not having any further comment on the investigation while it’s ongoing,” White House press secretary Scott McClellan said. Pressed about Cheney’s knowledge about the CIA officer, McClellan said: “I think you’re prejudging things and speculating and we’re not going to prejudge or speculate about things.” McClellan said Cheney – who participated in a morning video conference on the Florida hurricane from Wyoming, where he is speaking at a University of Wyoming dinner tonight – is doing a “great job” as vice president. The spokesman also said Cheney’s public comments have always been truthful. The New York Times identified its sources in the story as lawyers involved in the case. Libby has emerged at the center of Special Counsel Patrick Fitzgerald’s criminal investigation in recent weeks because of the Cheney aide’s conversations about Plame with Times reporter Judith Miller. Miller said Libby spoke to her about Plame and her husband, Bush administration critic Joseph Wilson, on three occasions – although not necessarily by name and without indicating he knew she was undercover. Libby’s notes show that Cheney knew Plame worked at the CIA more than a month before her identity was publicly exposed by columnist Robert Novak. At the time of the Cheney-Libby conversation, Wilson had been referred to – but not by name – in the Times and on the morning of June 12, 2003 on the front page of The Washington Post. The Times reported that Libby’s notes indicate Cheney got his information about Wilson from then-CIA Director George Tenet, but said there was no indication he knew her name. The notes also contain no suggestion that Cheney or Libby knew at the time of their conversation of Plame’s undercover status or that her identity was classified, the paper said. Disclosing the identify of a covert CIA agent can be a crime, but only if the person who discloses it knows the agent is classified as working undercover. The Times quoted lawyers involved in the case as saying they had no indication Fitzgerald was considering charging Cheney with a crime. But the paper said any efforts by Libby to steer investigators away from his conversation with Cheney might be viewed by a prosecutor as attempt to impede the inquiry, which could be a crime. According to a former intelligence official close to Tenet, the former CIA chief has not been in touch with Fitzgerald’s staff for more than 15 months and was not asked to testify before the grand jury even though he was interviewed by Fitzgerald and his staff. The official told the Times that Tenet declined to comment on the investigation. Libby’s lawyer, Joseph Tate, did not return phone calls and e-mail to his office. Fitzgerald is expected to decide this week whether to seek criminal indictments in the case. Lawyers involved in the case have said Libby and Karl Rove, President Bush’s senior adviser, both face the possibility of indictment. McClellan said both Rove and Libby were at work on Tuesday. Fitzgerald questioned Cheney under oath more than a year ago, but it is not known what the vice president told the prosecutor. Cheney has said little in public about what he knew. In September 2003, he told NBC he did not know Wilson or who sent him on a trip to Niger in 2002 to check into intelligence – some of it later deemed unreliable – that Iraq may have been seeking to buy uranium there. “I don’t know who sent Joe Wilson. He never submitted a report that I ever saw when he came back,” Cheney said at the time. “… I don’t know Mr. Wilson. I probably shouldn’t judge him. I have no idea who hired him.” Asked Tuesday whether Cheney always tells the truth to the public, McClellan said, “Yes.” “Frankly I think it’s a ridiculous question,” he said. “The vice president, like the president, is a straightforward plainspoken person.” The Cheney-Libby conversation occurred the same day that The Washington Post published a front-page story about the CIA sending a retired diplomat to Africa, where he was unable to corroborate intelligence that Iraq was trying to acquire uranium yellowcake from Niger. The diplomat was Wilson. A year after Wilson’s trip, President Bush cited British intelligence in his State of the Union address as suggesting that Iraq was pursuing uranium in Africa. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!