More from UK Fundraising’s bloggers

June 16, 2021


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first_imgMore from UK Fundraising’s bloggers 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. The week before that The Funderer mused on the FSB’s identity crisis.And of course the UK Fundraising Newswire is humming with activity as usual, with four news releases posted last week.With any luck, a new blogger will be announcing his UK Fundraising blog at this week’s National Fundraising Convention.Find all the latest blog posts on UK Fundraising. Tagged with: Digital Recruitment / people  18 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThiscenter_img John Grain, Ian MacQuillin, and Simon Burne have all updated their blogs recently on UK Fundraising.Ian MacQuillin asks “were we born to give?”, and John Grain discusses “the lost art of saying thank you” and the decline of the cheque.Simon Burne wrote three posts last week, entitled “Let’s talk about our cock-ups”, “Donor abuse is rife in the sector”, and “Where are the new leaders?”. Advertisement AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 8 July 2007 | Newslast_img read more

The Fate of Fannie and Freddie and the Importance of GSE Reform

May 31, 2021


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first_img Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Fannie Mae Freddie Mac GSE Mortgage Finance Related Articles  Print This Post in Commentary, Daily Dose, Featured Fannie Mae Freddie Mac GSE Mortgage Finance 2014-02-05 Blake Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Previous: Long Island Ranked Nation’s Hottest Market, Florida Metros Struggle Next: Connecticut Man Sentenced to Federal Prison for Mortgage Scam The Fate of Fannie and Freddie and the Importance of GSE Reform February 5, 2014 829 Views Subscribe The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Home / Commentary / The Fate of Fannie and Freddie and the Importance of GSE Reform Congress chartered Fannie Mae in 1938 as part of the New Deal and Freddie Mac in 1970. Although they were chartered by the federal government, the corporations were owned by private shareholders for the purpose of making homeownership affordable for lower- and middle-class and other underserved Americans.In theory, GSEs purchase mortgages from lenders, guarantee them, and package them into mortgage-backed securities, which they either keep as investments or sell to institutional investors. Lenders are able to increase liquidity and lending potential by selling these loans to the GSEs, which in turn should increase availability of credit.In practice, they have dominated the mortgage finance market, thus promoting homeownership. This domination is attributed to the ability of the GSEs to buy mortgages by borrowing at below-market rates based on the illusion of a government guarantee.In the 1990s, they implemented housing initiatives to lenders to offer low-down-payment mortgages to low- and middle-income families and to loosen underwriting guidelines, both factors which contributed to the housing bubble.In the early 2000s, Wall Street increased quantity of loans—often non-GSE, riskier loans that were securitized, another factor contributing to the bubble. By 2005, the GSEs, which were losing market share, loosened underwriting guidelines, taking on more risk without an increase in capital reserves.As the bubble began bursting in 2008, some in Congress wanted the GSEs to take on more risk, but U.S. Treasury officials, alarmed by continued devaluation of GSE loan portfolios, GSE weak capital reserves, potential investor sell-off, and impact on global markets—against the GSEs, with their weak capital reserves—persuaded the GSEs to consent to conservatorship in September 2008.The Housing and Economic Recovery Act (HERA), enacted in July 2008, created the Federal Housing Finance Agency (FHFA), the GSEs’ conservator since 2008.Fannie and Freddie continue to dominate the secondary mortgage market: They currently have more than $5.6 trillion in obligations outstanding, an amount nearly 40 percent the size of the entire U.S. economy, and they owned or guaranteed about 61 percent of all new residential mortgage loans in the United States in 2012. Contrasted with private mortgage origination, only $5.2 billion in residential mortgage-backed securities have been issued without government support in the same time period.Importance of GSE ReformFreddie and Fannie received a $188 billion bailout from Treasury and had paid $146 billion back by September 2013, with two-thirds paid back this year. They continue to be profitable, while having increased lender fees and tightened underwriting guidelines, and, along with the Federal Housing Administration (FHA), which guarantees reverse mortgages to seniors, insure nearly 90 percent of all residential mortgages.The costs beyond the direct infusion of the $188 billion bailout are much higher: an estimated $7.4 trillion loss in real property equity, for one.The GSE “privatized gains and socialized losses” model remains firmly entrenched in housing, and, along with the mortgage-interest federal tax deduction, has been described as having evolved into an entitlement.Both ends of our political spectrum agree GSE reform is required to minimize risk in U.S. housing markets. Methodology, however, varies depending upon the perspective of the GSEs, which promoted homeownership by loosening standards at the urging of politicians, or private investment companies, which securitized and sold riskier loans.Suggested ActionsSens. Bob Corker (R-Tennessee) and Mark Warner (D-Virginia) introduced a bill this past June that would replace the GSEs with federal reinsurance for mortgage-backed securities, similar to FDIC-insured bank deposits. This is thought to encourage private investors to take first losses on mortgages, knowing there is a backstop in economic downturns. President Obama has endorsed this approach in theory.A government insurance program could assuage the concerns of consumer and trade groups, who prefer the status quo about availability of mortgages, and the ability and promotion of prospective owners to buy homes, the mission of Fannie and Freddie.Most legal and residential mortgage banking and related professionals and industries advocate a thoughtful approach to reform, which would include some type of government guarantee or insurance. The U.S. housing market includes and affects untold numbers of homeowners and home occupants, who are served by a vast industry of professionals—all of whom value the intrinsic permanency of homeownership and solidarity found in our country based on our private real estate market.While larger lenders may not like the competition of the GSEs’ rates, they benefit, as smaller lenders do, by the liquidity and pseudo-government guarantee offered by the GSEs. Smaller lenders do not want the GSEs to wind down because they cannot compete with the liquidity of the large banks.On the other end of the spectrum are advocates of a free market system, with the government almost completely out of housing finance, except for, say, FHA/HUD first-time low- to middle-income buyer mortgages. They propose winding down the GSEs while legislating the definition of a prime loan (could the Consumer Financial Protection Bureau’s qualified mortgage definition be the foundation for this?) that would be the standard for a private finance market.Free market advocates note that the stated purpose of the GSEs, to encourage and expand home ownership, has not been substantially accomplished. Since 1998, when the GSEs increased efforts, ownership only increased from 66 percent to 70 percent, and it is now back down to 1998 levels. When the economic and human expense is added to this paltry result, the GSEs are not sustainable, though Fannie vows to remain viable. These advocates point to the Western European housing markets, which operate efficiently with very little government involvement, but with respectable percentages of homeownership.Almost everyone agrees that something needs to be done with the GSEs, and almost everyone recognizes that the “something” will be a complex undertaking in our housing and financial markets which are enmeshed with the GSEs, but we must be up to this task, we must be thoughtful about reform, avoid unintended consequences, and strike a middle ground between growing a private mortgage market and providing a government backstop.On the HorizonWhile there were housing reform hearings on Capitol Hill during the Congressional fall session, the topic is not on the House agenda and therefore is not a legislative focus compared to the current highlight on the debt ceiling and the Affordable Care Act.Hill insiders predict substantive GSE reform would take many years. Financial services company analysts point out the current profitability of the GSEs, and as noted previously, community and large banks like the advantages they receive, in different ways, from the GSEs’ liquidity.In fact, some hedge funds have heavily invested in the GSEs’ preferred stock, and two of them, Perry Capital and Fairholme Funds, have sued the United States for devaluation of the stock based upon Treasury changes in agreements with the GSEs.The same holding pattern exists for the Protecting American Taxpayers and Homeowners (PATH) Act, introduced in the House of Representatives bill rolled out in July, which seeks to return the FHA’s market share to first-time, lower-income buyers. The best approach now or in future Congressional sessions is to recognize the interplay between FHA and GSE reform and the market shift between them due to reform.GSE reform is complex, topical, and looming on the horizon, if lessons from our recent history are heeded. Stay tuned for an always evolving and important dialogue on our nation’s housing market. About Author: Michelle Garcia Gilbert Michelle Garcia Gilbert is president and CEO of the Gilbert Garcia Group, a Florida firm specializing in default services, creditors law, and REO. She has worked in foreclosure and creditors firms since 1989. Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Commit to financial education

December 18, 2020


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first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Teaching members to better manage their finances is a win-win.Credit union employees who commit to financial education programs often say it’s life-changing for both members and themselves.Embracing financial education programs also leads to many positive returns for credit unions—they’re seen as do-gooders in the community. It’s really a win-win, say financial education advocates.“You get more hugs and people love your credit union,” says Kathryn Greiner, director of credit education at $519 million asset University of Michigan Credit Union in Ann Arbor. “Members won’t want to cause a loss because they’re very dependent on the wonderful support and service they get.”Greiner and other financial counseling advocates recently shared their experiences and three keys to successful financial education programs in a CUNA webinar, “Successful Financial Counseling and Education Programs.”1. Make it simpleSuccessful financial education programs teach people how to help themselves, says Greiner, who aims primarily to simplify budgeting. continue reading »last_img read more

Batesville/Greensburg Middle School Hoops Results

September 24, 2020


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first_imgThe Batesville 7th grade basketball team defeated the Greensburg Pirates 39-33.Trey Heidlage led the team with 19 points including 9 in the 4th quarter.  Cooper Williams added 8, Alex Westerfeld 4, and Devin Scripture added a huge 3 pointer to beat the Pirates.  Defensively, Tyler Myers, Sam Haskamp, and Westerfeld did a great job rebounding including Myers taking 2 charges.BMS will be in action again tonight as they play at Rushville.Submitted by Batesville Coach Eric Feller.Batesville 8th grade lost to Greensburg last night 42-29.1Q – 12-9 Greensburg; 2Q – 22-12 Greensburg; 3Q – 32-17 Greensburg.Isaac Barker had 17 points, Dylan Flannery had 4, Evan Straber had 3 points.The team did a better job on turnovers with only 8.Submitted by Batesville Coach Terry Giesting.last_img read more

The Warriors just sent a not-so-kind message to the rest of the NBA

December 20, 2019


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first_imgThe Warriors have certainly beaten good teams this season. They’ve even posted some blowout wins, too.But on Tuesday, Golden State did something that they had not done the entire 2018-19 season: They blew out a top contender to their crown.The Warriors’ 142-111 win over the Nuggets was a complete evisceration, highlighted by a near-perfect (and NBA record) 51-point first quarter. It was the kind of lopsided victory that was once commonplace for the “lightyears ahead” Dubs, but it came as a …last_img read more

Gallery: Nelson Mandela Bay Stadium

December 18, 2019


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first_imgNelson Mandela Bay Stadium in Port Elizabeth, Eastern Cape, was the scene for England’s nerve-wracking first-round breakthrough match on 23 June. The first of South Africa’s 2010 Fifa World Cup stadiums to be completed, it was officially opened on 7 June 2009 – a year before the tournament. Before the World Cup it had already hosted a British and Irish Lions rugby match, a Soweto derby football match between top local teams Orlando Pirates and Kaizer Chiefs, and a football international between Japan and South Africa.For the World Cup the stadium has a capacity of 46 000 seats, and is host to five first-round matches, one second-round, one quarter-final, and the third-place play-off.All photos courtesy Nelson Mandela Bay Metropolitan Municipality On 11 March the first football match ever played in Nelson Mandela Bay Stadium pitted the Frankie Schoeman Invitation team against the Mayoral Invitation team.Download high-resolution image 30 April 2009Download high-resolution image 30 April 2009Download high-resolution image 2 May 2009Download high-resolution image 2 May 2009Download high-resolution image 7 June 2009Download high-resolution image 7 June 2009Download high-resolution image 11 June 2009Download high-resolution image 11 June 2009Download high-resolution image 11 June 2009Download high-resolution image 11 June 2009Download high-resolution image 11 June 2009Download high-resolution image 25 July 2009Download high-resolution image 25 July 2009Download high-resolution image 25 July 2009Download high-resolution image 25 July 2009Download high-resolution image 25 July 2009Download high-resolution image 3 August 2009Download high-resolution image 3 August 2009Download high-resolution image The Japanese and South African squads enter the field before the stadium’s inaugural international football match on 14 November 2009.Download high-resolution image The Japanese squad before the stadium’s inaugural international football match on 14 November 2009.Download high-resolution image Japan and South Africa play the stadium’s inaugural international football match on 14 November 2009.Download high-resolution image Japan and South Africa play the stadium’s inaugural international football match on 14 November 2009.Download high-resolution image Japan and South Africa play the stadium’s inaugural international football match on 14 November 2009.Download high-resolution image Bafana Bafana supporters at the stadium’s inaugural international football match on 14 November 2009.Download high-resolution imageMORE GALLERIESlast_img read more

Edmonton celebrates Aboriginal Day 2016 with culture kids and fun

October 14, 2019


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first_imgChris Stewart APTN National NewsEdmonton was among the many cities in Canada where Aboriginal Day was celebrated this year.A big effort was made to honour First Nations, Inuit and Métis cultures.last_img

You Dont Know What Tony Romos Got Till Hes Gone

September 30, 2019


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Rex Grossman508212.9 David Woodley504712.3 Tom Brady5121+23.3 Boomer Esiason1045512.7 Peyton Manning722321.7 Tony Romo802916.7 UPDATE (Nov. 26, 10:30 p.m.): Tony Romo reinjured his collarbone on Thursday in a game against the Carolina Panthers. ESPN reported that he will be out for the rest of the season.By beating the Miami Dolphins Sunday, the Dallas Cowboys preserved their undefeated record this season with quarterback Tony Romo under center. That’s the good news for Cowboys fans; the bad news is that Romo has only played three games. Matt Cassel and Brandon Weeden were both winless when filling in at QB while Romo was out with a broken clavicle. At 3-7, the Cowboys have little chance of making the playoffs unless they go on a serious tear against what isn’t an easy schedule down the stretch.If nothing else, the Cowboys’ season has reinforced just how completely essential Romo is. His absence has made it clear that he belongs in any discussion of the league’s top signal-callers.Romo ranks among the top QBs in the NFL over his career, whether you use data from the box score1He ranks fifth in adjusted net yards per attempt since taking over as a starter in 2006. or more advanced, play-by-play metrics.2He ranks eighth in QBR. But Romo also has a reputation, starting early in his career and growing with each passing year since the Cowboys’ last Super Bowl win, for not being “a winner.”While it’s possible Romo is a stat-stuffer whose great individual numbers overstate his true worth, there are other ways to detect a player’s value. For instance, here at FiveThirtyEight we’re oddly thankful when players miss time because it gives us a chance to quantify their influence on the performance of their teams. And few quarterbacks in NFL history have been associated with a better with-or-without-you (WOWY) ledger than Romo.To help measure this WOWY effect, I used Elo ratings, FiveThirtyEight’s pet power rating system. Elo gives us a snapshot of how good each team was expected to be at any given moment, as well as how much a team’s strength estimate changes over time. By looking at those changes in conjunction with who the team’s primary QB was during that game3Meaning the QB who attempted the most passes in a given game., we can construct WOWY scores that measure how much having a given passer under center helps the team.For instance, after Romo’s Cowboys beat Philadelphia in Week 2 (the game in which Romo was lost to injury), they achieved a 1618 Elo rating. Seven games later, when he took the field again on Sunday, Dallas’s rating had dropped to 1463, meaning it lost about 22 points of Elo per game in his absence. By comparison, the Cowboys gained about 19 points of rating per game when Romo does play, so his WOWY this season is +41: the team gains 41 more points of Elo per game when he plays than when he doesn’t.Gaining 41 points of WOWY is incredibly impressive by itself. In seasons where a QB both played and missed at least three games, only Dan Fouts’ 1978 season ranks higher since 19704The year of the AFL-NFL merger.. But it’s nothing new for Romo, who has consistently been good for the Cowboys. Over his career, his WOWY score of +16.7 ranks third among qualified5Minimum 50 games as a team’s primary passer in a career, and 20 games missed. passers since 1970: Drew Brees872513.7 GAMES John Elway1513613.9 Joey Harrington552512.4 QUARTERBACKWITHWITHOUTWOWY ∆ ELO Joe Ferguson947712.2 That Rex Grossman and Joey Harrington are anywhere near Tom Brady and Peyton Manning on that table shows that this isn’t a completely foolproof method. (For one thing, WOWY can’t factor in the quality of a QB’s backups, beyond what Elo is able to detect from changes in a team’s performance.) But it does suggest that, in terms of making his team more likely to win games, Romo has done an impressive job with the supporting cast the Cowboys have given him. Like Brady6Don’t let the 11-5 record against a weak schedule fool you; the Cassel-led 2008 Pats were significantly worse than they were in 2007 or would be in 2009. and Manning, Romo is associated with elevating his teams’ chances of winning games in addition to gaudy stats.That probably won’t be enough to change anyone’s mind in one of those endless arguments about Romo, but it does quantify what we’ve seen so far this season: The Cowboys are a very good team with Romo — and are totally lost without him.Check out our NFL predictions for odds on every game. read more

Jamaica Making Gains in Human Trafficking Fight

September 17, 2019


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first_img Related Items: Facebook Twitter Google+LinkedInPinterestWhatsApp#Jamaica, January 30, 2018 – Kingston – Deputy Superintendent of Police (DSP), Carl Berry, says the Jamaica Constabulary Force’s (JCF) Anti-Trafficking in Persons Unit has recorded major successes since its establishment in 2005.  DSP Berry, who heads the Unit, said the body has, to date, rescued 76 victims “without incident”.He informed that more than 3,000 victims have been interviewed resulting in the conviction of four of 23 suspects, who were brought before the courts for human trafficking and related matters such as rape and facilitating prostitution.  The persons convicted were sentenced to upwards of 30 years imprisonment and ordered to pay up to $2 million in restitution to victims.“We have other matters that are ready to go (before the courts)” of which “we are very hopeful about getting convictions,” he added.DSP Berry was speaking at a public forum jointly hosted by the National Task Force Against Trafficking in Persons (NATFATIP) and the United States Embassy in Jamaica, at the University of the West Indies Regional Headquarters in Mona, St. Andrew on Friday (January 19).Highlighting other gains, he informed that three prostitution rings were displaced, including one on the Port Henderson Road, better known as ‘Back Road’ in Portmore, St. Catherine and three establishments that were responsible for hosting, housing and allowing prostitution, were permanently closed.Additionally, he said that the unit assisted in providing medical, psychological, psychosocial and in a few cases, psychiatric care.  DSP Berry said the JCF is committed to going after traffickers.“We are not sitting on our laurels; the journey continues.  We continue to, as a police force, provide security even beyond convictions. As an organisation, the JCF commits to its partners and stakeholders to be leaders in the war against human trafficking.  We commit further that we will endeavour to pursue human traffickers wherever they reside,” he assured.The forum concluded a week-long series of regional sessions and school tours from January 16 to 19 under the theme: ‘Human Trafficking is Real… Look Beneath the Surface.’  The activities were aimed at heightening awareness and understanding, particularly among students and young people, about human trafficking.NATFATIP is a multi-agency body, comprising representatives from ministries, departments and agencies and non-governmental organisations, which support the Government’s policy and action in combating human trafficking in Jamaica.Release: JIS Facebook Twitter Google+LinkedInPinterestWhatsApplast_img read more

Will Opportunity Zones Spur Houston Growth

September 2, 2019


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