Misys sees orders surge as banks return to health

first_imgThursday 9 December 2010 7:28 pm whatsapp KCS-content Tags: NULL whatsapp Share Show Comments ▼ Misys sees orders surge as banks return to health Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap MISYS, which provides financial software to the world’s biggest banks, reported a rise in new banking orders yesterday in a sign that clients are more upbeat about the future.UK-based Misys forecast banking order intake to reach £41-42m, up from £38.1m the previous year, it said in a trading statement for the six months to 30 November.The rise, the first in 18 months, is a sign that banks are more confident about investing in the company’s new BankFusion platform, said Execution Noble analyst Vijay Anand.Anand said major banks can take up to a year to decide on a new software platform, which has held back Misys’ results until now as BankFusion only launched this year. Misys said it received 13 new orders for BankFusion, which handles lending, deposits, and payment transactions as well as treasury and trade services, in the period. Other new solutions, such as trade finance systems for importers and exporters, accounted for 60 per cent of licence orders, up from 16 per cent the previous year. Banking division revenues are expected to dip slightly to £76-77m, down from £79.7m in 2009. But its treasury and capital markets arm saw forecast orders fall to £38-39m, from £40.9m, as orders were delayed. last_img read more

Read more

KenGen Limited (KEGN.ke) 2018 Presentation

first_imgKenGen Limited (KEGN.ke) listed on the Nairobi Securities Exchange under the Energy sector has released it’s 2018 presentation For more information about KenGen Limited (KEGN.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the KenGen Limited (KEGN.ke) company page on AfricanFinancials.Document: KenGen Limited (KEGN.ke)  2018 presentation Company ProfileKenya Electricity Generating Company Limited (KenGen) generates and sells electricity in Kenya and for consumption in East Africa sub-regions. Electricity is generated through hydro, thermal, geothermal and wind power generation plants with a combined installed capacity in excess of 1 600 megawatts. KenGen was incorporated in 1954 under the Companies Act as Kenya Power Company (KPC) to construct the transmission line between Nairobi and Tororo in Uganda, as well as develop geothermal and other power generating facilities in the two countries. KPC sold electricity in bulk at cost to Kenya Power under a management contract. Following energy sectoral reforms in 1996, the management of KPC was separated from Kenya Power and a new enterprise was established called KenGen. The power utility owns 31 power-generating plants and operates in a liberalised power generation environment. Its head office is in Nairobi, Kenya. Kenya Electricity Generating Company Limited is listed on the Nairobi Securities Exchangelast_img read more

Read more

Rugby sevens: Matthew McConaughey shares his views on the Olympic sport

first_imgAfter a break at 6pm, the action will resume at 8pm, when the knockout stages will commence.To listen in full to Matthew McConaughey’s thoughts on the Rio Olympics and rugby sevens click here: http://bbc.in/2bdhTcD Oscar-winning actor Matthew McConaughey has been converted into a fan of rugby sevens after watching day one of the men’s tournament yesterday. France 26 – 5 SpainSouth Africa 5 – 12 AustraliaKenya v JapanNew Zealand v Great BritainArgentina v BrazilFiji v USA LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS Speaking on BBC 5 live Olympics, the Hollywood star remarked: “If you get a snap shot of those two teams (NZ v Japan) 100/100 people say that New Zealand is going to win that game,” he added. “Then Japan comes out, super keen, really fast, obviously believing they could win.”McConaughey’s observations accurately recount what has been the shock of the tournament so far, as Japan mustered the same spirit that saw them beat South Africa in the 15 man version of the game at the World Cup last year, to take out the most successful sevens nation in history, New Zealand, 14-12.McConaughey is in Rio for a week with his Brazilian wife Camila, and admits that getting to the Olympic venue – the Deodoro Stadium – isn’t easy.“I’m loving it,” the 46-year-old Texan said regardless.“Once the party has started, you’re not going to throw a better one than Brazil.”Asked whether he’s currently meant to be shooting a movie, McConaughey replied: “This is my movie now.”Day two of the men’s rugby sevens is underway, where group winners will be decided.Day two group fixtures & results:last_img read more

Read more

Fisher Plantation Annexation Update

first_imgShare on Facebook Tweet on Twitter Florida gas prices jump 12 cents; most expensive since 2014 UF/IFAS in Apopka will temporarily house District staff; saves almost $400,000 You have entered an incorrect email address! Please enter your email address here Please enter your comment! Gov. DeSantis says new moment-of-silence law in public schools protects religious freedom In 1982 the English punk rock band The Clash asked the question, “Should I stay or should I go?” The residents of Fisher Plantation face a similar issue in 2017, “Should we continue to purchase services from Orange County or is it time to switch to the City of Apopka?”The City of Apopka made the case for annexation during an hour-long question and answer session at City Hall yesterday.  The 160 registered voters who are residents of the 80 homes in Fisher Plantation have until April 11th to return their ballots and vote either for or against annexation.According to Fisher Plantation HOA President, Susan Pettingill, the process to be annexed into the City began almost two years ago when the developer turned the subdivision over to the homeowners association. Fisher Plantation is located west of Schopke Lester Road.“At the first HOA meeting I asked people if they thought we should be in the city,” Pettingill said. “Most of the homeowners thought we were already in the city since they were getting Apopka water bills.”Pettingill, who was with the Apopka Fire Department for nearly twelve years,  knew better.“We decided to wait until after the elections,” said Pettingill.The meeting began with an introduction by James Hitt, Apopka’s Community Development Director. Hitt explained the annexation process, which requires a majority of the votes cast.  He also reminded those present that the move to the city would save residents $75 per year.Apopka Fire Chief Chuck Carnesale used a super-sized map of Apopka to show the proximately of the Apopka Fire Stations to Fisher Plantation.He took great pains to point out that, while the Orange County Fire Rescue Department provides excellent service, geography favors the Apopka Fire Department.  Indeed, three existing Apopka Fire stations are significantly closer to Fisher Plantation than the nearest Orange County Fire Station, which is in Zellwood.  He also reminded everyone that Apopka was the first fire department in Florida to provide ambulance services, which began in 1966.Apopka Police Chief Mike McKinley then discussed APD’s capabilities. Several of the residents indicated that on-street parking was the biggest issue in Fisher Plantation.  McKinley explained Apopka’s recently-adopted parking ordinance, which was designed to ensure easy access for emergency vehicles.Fisher Plantation residents have until 5:00 PM on April 11th to return their ballots to the Orange County Supervisor of Elections.  If the proposed annexation is approved, the residents of Fisher Plantation will join the City if Apopka on April 21st. TAGSCity of ApopkaFisher Plantation Previous articleIs Sam Ruth running for office in 2018?Next articleWhat is the role of an Apopka City Commissioner? Dale Fenwick RELATED ARTICLESMORE FROM AUTHOR Please enter your name here Save my name, email, and website in this browser for the next time I comment. LEAVE A REPLY Cancel replylast_img read more

Read more

Trump’s misogyny, a pillar of capitalism

first_imgPresident Donald J. Trump did it again. He lambasted a female news reporter with a crude, bullying tweet on June 27. By attacking the appearance and intelligence of Mika Brzezinski, co-host of MSNBC’s show “Morning Joe,” he pinpointed the two top types of centuries-old condemnation of women.Though his attack was immediately denounced — from women on both sides of the aisle in Congress to women’s, legal and human rights groups — Trump would not have touted his disgusting woman-hating if patriarchy were not one of the pillars of capitalism.Women’s inequality in U.S.Examples of women’s inequality in the U.S. begin with the pay gap. The latest statistics show that, overall, women make 80 cents for every dollar a white man makes, though women (and men) of color make even less. The Institute for Women’s Policy Research estimates it will take until 2059 for white women to reach pay parity, while Black women will wait until 2124 and Latinas until 2248. Outrageous theft!That means all businesses, corporations and shops alike, steal at least 20 cents from every dollar a woman earns, boosting their profits. According to the Department of Labor’s latest statistics, as of 2010, women were 47 percent of the total U.S. labor force: 72 million workers, or 58.6 percent of the 123 million women age 16 years and over. Those 20 cents sure add up!No wonder the ruling class doesn’t want legislation that guarantees ample parental leaves, free child care and universal health care. No wonder one of the main means that ciswomen have to take charge of their lives — birth control — is on the barricades. No wonder transwomen of color are targeted for transphobic assaults and murders. No wonder “every nine seconds a woman in the U.S. is assaulted or beaten,” reports the National Coalition Against Domestic Violence, while Trump plans to cut funding to prevent it. No wonder U.S. capitalism flexes its military might to bully the rest of the world into doing its bidding, disproportionately affecting women and their children.Use and abuse of power and control are part and parcel of capitalist class society — whether in the boardroom or the bedroom, whether through tax laws favoring the rich or low wages that keep poor people poor, whether it’s killer police or a brutal fist in the family. You cannot separate patriarchy — men’s claim on the right to control women as their private property — from capitalism, which maintains power through private ownership of property.The fight continuesTrump’s appointment of Eric Dreiband on June 29 to head the Civil Rights Division of the Department of Justice is another example of his misogyny. Like all his appointees to the cabinet and various departments — who oppose the very premise of their office — Dreiband has spent his corporate career opposing civil rights. He not only represented the Roman Catholic archbishop of Washington, D.C., in the church’s 2014 case against the Affordable Care Act’s birth control benefit, but he defended the University of North Carolina in a lawsuit related to HB 2, the discriminatory “bathroom bill.”Dreiband has “made a career going against women and LGBT rights,” said Jesselyn McCurdy, deputy director of the American Civil Liberties Union’s Washington legislative office. Vanita Gupta, former head of the Civil Rights Division, said, “Whoever leads the ‘crown jewel’” of the DOJ “must have a deep, abiding faith in our nation’s civil rights laws … rights that people have literally died for.” She called Dreiband “woefully unqualified” because he has no experience in “voting rights, police reform, housing, education and hate crimes.” (Rewire, June 29)It’s ironic that Trump’s continuing tweets against Mika Brzezinski and co-host Joe Scarborough, which are also viewed as attacks on freedom of speech, coincide with the country’s Fourth of July celebration. This national holiday usually involves effusive patriotism and nostalgic hoopla touting how wonderful this country is.Yet on every international measurement scale, whether women’s representation in government, living standards, longevity or infant mortality, the United States is near the bottom of the list of 40 industrial nations.Take infant mortality. A March 21 nbcnews.com report noted that the U.S. rate of deaths per 1,000 live births declined from 6.9 in 2005 to 5.8 in 2014 — a 15 percent decline, according to the National Center for Health Statistics. But it’s a national embarrassment that the rate in the nation’s capital, a largely Black city, is 7.9. Compare that to Cuba’s rate of 4.3 in 2016. (Cuban Ministry of Health, Jan. 1)Why the difference? Cuba is a revolutionary socialist country that nationalized the big estates and businesses, many U.S.-owned, beginning in 1960, so it’s able to provide universal health care and free education, while striving to eradicate all forms of racism and chauvinism against women and LGBTQ people. It puts its resources where its principled politics are, despite Washington’s decades-long trading blockade.While only revolutionary socialism can lay the basis to end all forms of oppression, including woman-hating, a lot can be, and has been, won under this system through struggle. When this writer first researched the wage gap in 1970, it was 59 cents on the dollar.But it’s essential to remember that our hard-fought gains can be pushed back by reactionaries like Trump and his gang of warmongers and billionaires if we don’t keep fighting. They control the state, so uprooting that has to be our ultimate objective as we struggle to end sexism, racism, LGBTQ bias and all forms of exploitation and oppression.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Read more

TCU expands campus testing sites for spring semester

first_imgWorld Oceans Day shines spotlight on marine plastic pollution Linkedin Facebook Benton McDonaldhttps://www.tcu360.com/author/benton-mcdonald/ ReddIt Benton McDonald is a senior journalism and political science double major from Austin, Texas. He has worked for TCU360 since his freshman year and is currently the executive editor. Benton McDonald + posts Settlement reached between TCU, former professor in discrimination lawsuit Benton McDonaldhttps://www.tcu360.com/author/benton-mcdonald/ Welcome TCU Class of 2025 Thousands of TCU community members receive COVID-19 vaccines as university supply increases In this Dec. 10, 2020, file photo, registered nurses swab patients during testing for COVID-19 organized by Philadelphia FIGHT Community Health Centers at Mifflin Square Park, in south Philadelphia. (AP Photo/Matt Slocum, File) Facebook Benton McDonaldhttps://www.tcu360.com/author/benton-mcdonald/ Benton McDonaldhttps://www.tcu360.com/author/benton-mcdonald/ Chancellor talks stimulus money, COVID-19 vaccines and more at limited attendance faculty town hall ReddIt Twitter printTCU students, faculty and staff will have more ways to be tested for COVID-19 on-campus this spring.Curative will continue operating the testing site located across the street from the Brown–Lupton University Union, which is open to the TCU community and the general public. The site opened in November as part of an effort to test students before winter break. In addition, Curative is opening a TCU-only testing site inside the BLUU on January 12. The testing options were announced in a university email to students and faculty Wednesday. Curative’s tests are free and contactless. They can be scheduled on the companies website. Along with the two on-campus Curative sites, the Brown-Lupton Health Center will also be offering tests to students. TCU will not be requiring entry testing for students. “While we don’t require entry testing, we do ask that you test if you have symptoms, so we can protect our friends and neighbors,” the email said. “And if you’re sick, STAY HOME until you’re well enough to rejoin the community.” The university also announced that quarantine duration has been reduced to 10 days from 14, in accordance with updated CDC guidelines. The announcements came a week after TCU received and distributed its first 100 doses of the Moderna COVID-19 vaccine. READ MORE: TCU receives first batch of COVID-19 vaccinesThere is no timeline for when the university expects to receive more vaccine shipments. They plan to offer vaccines to all students, faculty and staff as they are delivered. The first day of the semester is Tuesday January 19. Board approves tuition freeze, RRI actions but doesn’t act on eligibility issue spurred by Williams Linkedin Previous articleAll riff, no ram: Frogs get sharp wake-up call from No. 6 JayhawksNext articleMoehrig wins Jim Thorpe Award as nation’s top defensive back, makes school history Benton McDonald RELATED ARTICLESMORE FROM AUTHOR TCU places second in the National Student Advertising Competition, the highest in school history Twitterlast_img read more

Read more

Pasadena Community Foundation Scholars Adapt to Online Learning

first_imgEducation Pasadena Community Foundation Scholars Adapt to Online Learning STAFF REPORTS Published on Friday, April 10, 2020 | 11:07 am 56 recommended0 commentsShareShareTweetSharePin it PCF Scholars Ramon, Mahely, and Alejandra study at home with new access to online learning.In 2019, PCF launched the PCF Scholars program to support local students (Pasadena Unified School District graduates) pursuing their college education at Pasadena City College (PCC). Last fall, the first group of PCF Scholars enrolled at PCC to begin their education. These eight students, representing all six PUSD high schools, come from low-income backgrounds, and many are the first in their families to attend college.When the COVID-19 pandemic hit, PCC acted quickly to move instruction online. While distance learning is the safest option during this public health emergency, it created new challenges for some of the PCF Scholars, who did not have access to the technology they needed to continue their education.“Even before the COVID-19 pandemic, flexible financial support was built into the design of the PCF Scholars program to address emergency expenses,” said Kate Clavijo, Ed.D., PCF senior program manager. “The PCF Scholars program has made it possible for us to step in and provide these students with the technology and support they need to navigate this transition to online learning.PCC student and PCF Scholar Ramon graduated from CIS Academy in 2019, with plans to study music. He completed his first semester and was adjusting to college life when the COVID-19 pandemic created new obstacles, and he turned to PCF for assistance.“In the past I used to access the internet at the PCC libraries, which are now closed. The PCF Scholars program paid for my laptop and helped me access the free student account for internet at home. My passion and focus is music, and now I can complete my classes in music theory and musicianship this semester. I’m looking forward to going back to campus in the fall.”Mahely, a graduate of Blair High School, and Alejandra, who attended John Muir High School, both shared that they are now balancing their college work with assisting their elementary and middle-school-age relatives with their own online schooling. Alejandra also needed a laptop when her classes moved online, which she quickly got through the PCF Scholars program. Both Mahely and Alejandra are doing well with their classes and adjusting to a new routine of Zoom discussion sessions, online tutoring, and text check-ins with counselors.PCF is in close communication with program partners College Access Plan and PCC Pathways, as well as Ramon, Mahely, Alejandra, and the rest of the Scholars, to meet their academic needs and help them continue their education in the midst of the unprecedented challenges of COVID-19.Please click here to learn more about the PCF Scholars or make a gift to support the program, which provides up to four years of support for each student. HerbeautyThis Trend Looks Kind Of Cool!HerbeautyHerbeautyHerbeautyHere Is What Scientists Say Will Happen When You Eat AvocadosHerbeautyHerbeautyHerbeauty5 Things To Avoid If You Want To Have Whiter TeethHerbeautyHerbeautyHerbeautyNutritional Strategies To Ease AnxietyHerbeautyHerbeautyHerbeautyInstall These Measures To Keep Your Household Safe From Covid19HerbeautyHerbeautyHerbeauty7 Tips To Rejuvenate Winter Dry, Chapped LipsHerbeautyHerbeauty CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Your email address will not be published. Required fields are marked * 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. STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Name (required)  Mail (required) (not be published)  Website  Make a commentcenter_img Community News Subscribe Community News More Cool Stuff STAFF REPORT First Heatwave Expected Next Week faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,PCC – EducationVirtual Schools PasadenaDarrell Done EducationHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Top of the News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Business Newslast_img read more

Read more

Limerick residents spat on and abused

first_imgAdvertisement TAGSDoras LuimníMusic Limerickracism LIMERICK residents of Asian and African descent have reported being spat on and verbally abused on the city’s streets because of their race, according to migrant rights organisation Doras Luimní.Following a nationwide report from the Immigrant Council of Ireland showing that 50 serious racist incidents were reported in a ten-week period, the Limerick-based organisation says it deals with two to three reports of racism each week.Sign up for the weekly Limerick Post newsletter Sign Up Matt Cannon, integration policy officer with Doras Luimní told Limerick Post: “In Limerick we have had a number of reports directly to Doras; we would get an average of two to three per week and I think that would go up if there was greater awareness of the reporting system.”Mr Cannon said the reports range in severity from ‘casual’ racism to verbal and physical abuse, and that most of the incidents are reported by people of African or Asian origin.“You have ‘casual’ racism which might be things people say in conversation, up to people who have been shouted at in the street or even assaulted. Some people have been spat on or had things thrown at them.“It tends to be mainly people who look physically different to most Irish people; the majority would be black Africans. We also see a high number of people of Asian descent making reports.”The organisation is encouraging anyone who experiences or witnesses a racist incident to report it to Doras Luimní or the gardaí.Mr Cannon said: “It might not prevent that previous incident but if we know it is happening on a regular basis, such as on public transport, we can work with our other partners to monitor that.”A national database and reporting system called www.iReport.ie is to be launched in Dublin on July 11 by migrant and Travellers rights groups around Ireland.Doras Luimní plans to hold a Limerick launch for the site in September to coincide with the publication of statistics around racism in Limerick and the Midwest. Emma Langford shortlisted for RTE Folk Award and playing a LIVE SHOW!!! this Saturday Linkedin Twitter Celebrating a ground breaking year in music from Limerick WhatsApp Email #HearThis: New music and video from Limerick rapper Strange Boy center_img RELATED ARTICLESMORE FROM AUTHOR Previous articlePatricia is planning for the futureNext articleTogher Talk – Noel Griffin John Keoghhttp://www.limerickpost.ie #SaucySoul: Room 58 – ‘Hate To See You Leave’ Watch the streamed gig for Fergal Nash album launch Print NewsLimerick residents spat on and abusedBy John Keogh – July 4, 2013 971 Facebook Free Céilí Afro Dabke workshops and performancelast_img read more

Read more

Driven By Increasing Equity Trend, Total Value of Mortgage Market Hits $22 Trillion

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. The Best Markets For Residential Property Investors 2 days ago Previous: Third-Party Servicing Portfolios for Big Banks Continue Drastic Decline Next: FORCE Members Convene For Rally at Five Star Conference Data Provider Black Knight to Acquire Top of Mind 2 days ago Driven by a a trend of increasing household equity, the total value of the residential housing market nationwide rose to $22.7 trillion as of the end of Q2 2015, according to the Urban Institute’s Housing Finance at a Glance report for September 2015 released Friday.Household equity has increased each quarter for the last two years, including a 3.4 percent jump in Q2 up to $12.76 trillion, according to the report. Total debt and mortgages also ticked up slightly in Q2 to $9.90 trillion; combined with household equity, those two categories make up the $22.7 trillion mortgage market.The findings of the Urban Institute on homes regaining equity were in line with CoreLogic’s household Homeowner Equity report for Q2 2015 released in mid-September. Corelogic fond that more than three-quarters of a million residential properties regained equity in Q2, bringing the nationwide total of mortgaged residential properties with equity up to 45.9 million (91 percent). Meanwhile, the number of residential properties with negative equity declined to about 8.7 percent, or 4.4 million properties (a drop of about 1 million from a year earlier).CoreLogic found that nearly one-third of the country’s negative equity (31.7 percent) as of the end of Q2 was concentrated in five states (Nevada, Florida, Arizona, Rhode Island, and Illinois). The continued decline in homes with negative equity prompted CoreLogic president and CEO Anand Nallathambi to declare that “the negative equity epidemic is lifting” for much of the country.”The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets,” Nallathambi said. “CoreLogic predicts home prices to rise an additional 4.7 percent over the next year, and if this happens, 800,000 homeowners could regain positive equity by July 2016.”According to the Urban Institute, agency mortgage-backed securities (those with a guarantee from a government agency such as Fannie Mae or Freddie Mac) comprised about $5.7 trillion of the residential mortgage market at the end of Q2. Unsecured first liens accounted for $2.9 trillion, while private label securities and second liens accounted for about $0.7 trillion each. Household Equity Housing Finance Mortgage-Backed Securities Urban Institute Value of Mortgage Market 2015-09-26 Brian Honea Demand Propels Home Prices Upward 2 days ago Tagged with: Household Equity Housing Finance Mortgage-Backed Securities Urban Institute Value of Mortgage Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago September 26, 2015 1,158 Views Related Articles Sign up for DS News Daily center_img  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Driven By Increasing Equity Trend, Total Value of Mortgage Market Hits $22 Trillion Share Save Home / Daily Dose / Driven By Increasing Equity Trend, Total Value of Mortgage Market Hits $22 Trillion About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

Read more

Fitch: Remote Work Will Not Affect RMBS Rating

first_img Data Provider Black Knight to Acquire Top of Mind 1 day ago The Best Markets For Residential Property Investors 2 days ago  Print This Post About Author: Christina Hughes Babb October 8, 2020 1,011 Views in Daily Dose, Featured, Market Studies, News Home / Daily Dose / Fitch: Remote Work Will Not Affect RMBS Rating Data Provider Black Knight to Acquire Top of Mind 1 day ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 1 day ago Credit-rating agency Fitch recognized that remote working patterns across America are influencing homebuying trends, but the company concluded this will not affect residential mortgage-backed securities (RMBS) ratings.”Remote working in the U.S. accelerated as a result of the coronavirus pandemic, and is reducing the importance of proximity to offices and causing migration from urban to suburban and exurban areas. As more people seek larger spaces for home offices and families, home prices in high-density areas are softening, and those in lower density areas are increasing,” said Fitch. “We do not expect this shift in housing demand to have material effect on the credit quality of Fitch-rated US RMBS pools, because they are typically geographically diversified, and ratings reflect stress scenarios that apply severe home-price declines to all properties in the portfolios.”Furthermore, Fitch predicted the work-from-home trend will become permanent, as it “has proved to be viable and efficient for a large percentage of jobs in developed economies.”However, Fitch added, even for those working from home, proximity to their employers home base will remain important.”We expect a large number of people working from home will do so on a part-time basis over the long term … As a result, housing prices in areas that are still within commuting distance to urban commercial districts have seen the greatest increase and are expected to remain elevated relative to pre-pandemic levels,” Fitch reported.Home purchase activity data supports this, Fitch said.”Over the last decade, the urban-core of the US has accounted for over 75% of all home purchase activity, but this has declined since the onset of the pandemic, which we expect to settle into a longer term trend.”Fitch additionally looked at REALTOR.com data overlaid with U.S. Census density data.”Looking at the 10 most populated core-based statistical area (CBSA), the least dense areas show a dramatic uptick in listing views by prospective buyers,” Fitch said. “The least dense areas show the highest median price increases based on property size. Homebuilding has accordingly increased in the last six months to meet this new demand.” Fitch said that while it has observed “early indications of home price changes based on density,” it predicts home price changes in most areas “to be curbed in the long run by the effects of the global recession and potential related credit tightening. This will weigh on the households’ ability to transform changed housing preferences into actual home purchases, in spite of the positive influence of low interest rates on affordability.”Fitch-rated RMBS pools in the U.S. predominately are made up of suburban properties. Thus, performance should be bolstered by strong demand for these areas.Less than 5% of the Fitch-rated RMBS portfolio contains “any notable geographic concentrations.” Furthermore, Fitch reported, “only two metropolitan statistical areas account for more than 4% of the rated mortgage portfolio.”For its analysis, Fitch assumed “a scenario where pools are 100% concentrated in areas that are expected to see home price declines.”They continue, “The stresses we apply to all properties range from a minimum decline of 10% to an average housing stress of 40% for the ‘AAA’ rating stress. These compare with the 27% price decline observed during the 2008 financial crisis. If there is outsized exposure to any one geographical area, Fitch applies geographic and loan-concentration penalties at a mortgage pool level.”For a full report and methodology, see Fitch Ratings’ research. Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. 2020-10-08 Christina Hughes Babb Demand Propels Home Prices Upward 1 day ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: States at Highest Risk of Economic Strain From COVID-19 Next: Chase Devotes $30B to Underserved Communities’ Financial Wellbeing Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Fitch: Remote Work Will Not Affect RMBS Rating Share Save Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Read more