Berger to Calabria: Protect CUs, mortgage industry from forbearance distress

first_imgFHFA ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »center_img As Congress and the Federal Housing Finance Agency (FHFA) work to ensure the safety and well-being of consumers through mortgage forbearance options during the coronavirus pandemic, NAFCU President and CEO Dan Berger raised concerns to FHFA Director Dr. Mark Calabria about the consequences of these forbearances on credit unions and the mortgage industry as a whole.Under the CARES Act, borrowers are able to request forbearance on single-family and multifamily loans sold to the GSEs. However, credit union mortgage servicers are required “to continue to make payments to investors on the interest, with respect to Freddie Mac mortgages, and interest and principal, with respect to Fannie Mae mortgages, on [mortgage-backed securities (MBS)], based on a calculation of the unpaid principal balance of the loan after the last payment was received from the borrower,” Berger noted.The CARES Act does not provide relief for mortgage servicers.“Unlike for-profit banks, credit unions are uniquely limited in their sources of regulatory capital, so a large increase in the number of forbearance requests from borrowers affected by the novel coronavirus (COVID-19) pandemic could significantly strain credit unions’ liquidity needs,” Berger wrote. To address these concerns, Berger called on the FHFA to “assist credit unions facing large monthly payments on nonperforming loans sold to the [government-sponsored enterprises (GSEs)] and also protect credit unions from the secondary impacts of liquidity issues threatening their third-party servicers.”last_img read more

Cricket News Watch: Hasan Ali dances to ‘Gallan Goodiyaan’ with wife Samia Arzoo after Dubai wedding

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Pakistan pacer Hasan Ali got married to Dubai-based Indian Samia Arzoo on Tuesday night. After the ceremony, Ali danced to the tune of Indian songs with wife Samia.A video shared on the Instagram page of Da Artist Photography, the official wedding photographers of the ceremony, shows Ali and Arzoo dancing to tune of famous Bollywood number ‘Gallan Goodiyaan’.They also shared several pictures of the wedding ceremony. These pictures and videos soon went viral on social media.The wedding was attended by close friends and relatives. Before the wedding, Ali shared a video of mehdi ceremony. One such video showed the Pakistan pacer celebrating his wedding the same way he celebrates getting a wicket. Pakistani journalist Saj Sadiq shared the video on Tuesday saying, “Hasan Ali doing his wicket-taking celebration at a desert safari ahead of his Mehndi today.”Hassan Ali doing his wicket-taking celebration at a desert safari ahead of his Mehndi today— Saj Sadiq (@Saj_PakPassion) August 19, 2019Before the wedding ceremony took place, Ali had shared a picture of himself with a caption: “Last Night as a bachelor! looking forward.”Last night as a bachelor..! looking forward— Hassan Ali 🇵🇰 (@RealHa55an) August 19, 2019Samia (26) is from Haryana. She is a flight engineer with Emirates Airlines, while her family members are settled in New Delhi. last_img read more

Tipp’s National hurling and football league games called off

first_imgAll of this weekend’s Allianz National Hurling and Football League games – including the double header set for Semple Stadium have been called off.Croke Park have announced the news 24 hours earlier than anticipated.Tipp senior footballers were due to take on Louth, while the hurlers were set to meet Cork.The fifth round of Hurling League games will now be played next weekend with quarter-finals moved to St Patrick’s weekend.The semis will be played a week later with the final pushed back to the 31st of March.Round Five of the Football League will be rescheduled for the weekend of March 11th.The decision means there will be football and hurling league for four consecutive weekends.Refixture details will be confirmed by the Central Competitions Control Committee on Monday. Tipperary’s national hurling and football league games have been called off for this weekend.The announcement was made just before lunchtime by Croke Park.last_img read more