Limerick businesses can no longer rely on UK markets, warns leading…

first_imgBrexit briefing told ‘never waste a crisis’ RELATED ARTICLESMORE FROM AUTHOR Product development and new markets driving Enterprise Ireland investment One of Ireland’s leading businessmen, Denis Brosnan, has advised Limerick companies that are reliant on UK markets to start exploring business streams elsewhere.Answering questions for a short video shot at the recent inaugural Limerick Chamber Regional Leaders’ Programme event, Brosnan was in reflective mood as he discussed Brexit and offered advice to local start-ups.Sign up for the weekly Limerick Post newsletter Sign Up The event was the launch of the Leaders’ Programme in partnership with Dell EMC and University of Limerick.  The programme will see five leadership talks delivered by regional and national business people to 150 participants signed up to the programme.In between the bi-monthly leadership talks, the 150 participants will participate in smaller groups with a mentor, who will be a senior leader from the region who will work with them to develop their leadership skills.Each group will receive a new mentor every two months, ensuring that they are exposed to many different leadership styles drawn for a broad range of sectors. Email Previous articleUHL takes two prizes at national awardsNext articleWin cinema tickets Editor Shannon link to Frankfurt is vital for regional development WhatsApp Facebook Twittercenter_img Linkedin Budget 2020, Brexit, and global economic issues discussed at Limerick Chamber event BusinessNewsLimerick businesses can no longer rely on UK markets, warns leading economistBy Editor – March 17, 2017 850 Limerick Post Show | August 23rd 2019 Advertisement Print TAGSBrexitDenis BrosnanLimerick Chamber Regional Leaders’ Programme Brexit contingency measures for airport last_img read more

The Industry Pulse: Updates on Citadel, Wells Fargo, and More

first_imgHome / Daily Dose / The Industry Pulse: Updates on Citadel, Wells Fargo, and More Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Black Knight industry pulse Wells Fargo 2019-08-15 Seth Welborn Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago The Industry Pulse: Updates on Citadel, Wells Fargo, and More Related Articles  Print This Postcenter_img Subscribe in Daily Dose, Featured, Market Studies, News August 15, 2019 1,354 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Previous: Studying the Fall of the Market and What’s Next Next: Mortgage Servicing Trends and Challenges Tagged with: Black Knight industry pulse Wells Fargo Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago From important milestones to new additions and technology, get the latest industry buzz in this update.Citadel Servicing Corporation (CSC) has announced that it surpassed $3 Billion in servicing under management. What is even more outstanding is that it has taken just 9 months to add $1 Billion to their already growing servicing portfolio.CSC is the only Vertically Integrated lender solely dedicated to the Non-QM / Non-Prime mortgage market. With their range of innovative products and the most competitive rates in the industry, CSC is once again showing why they are leaders in this niche market.“We are continuously looking at ways to improve what we do and how we do it. Working with our partners to find cost effective ways to service the needs of our customers. Over the past 12 months we have invested in systems which allow us to provide efficient and easier ways to service our customers.”, said Eric Friedman, SVP Director of Servicing.__________________________________________________________________________Wells Fargo announced that Eileen Fitzgerald will join the company as head of its housing affordability philanthropy. She begins work September 30 and will report to Brandee McHale, President of the Wells Fargo Foundation.“America can’t afford unaffordable housing,” McHale said. “Wells Fargo is committed to addressing the full spectrum of housing issues. With Eileen at the helm, I am confident we will move quickly to further develop solutions to challenges ranging from homelessness to rental housing to homeownership — all with a goal of unlocking more housing options for those in need.”Fitzgerald has more than 25 years’ experience in housing and community development. Currently, she is President and CEO of Stewards of Affordable Housing for the Future (SAHF), a collaborative of nonprofits that collectively own and operate more than 140,000 affordable rental homes across the U.S. SAHF advances the creation and preservation of healthy, sustainable affordable rental homes for people of limited economic resources.Previously, Fitzgerald was CEO and COO of NeighborWorks America. Before that, she worked at the Fannie Mae Foundation and was chief investment officer for Single-Family at the AFL-CIO Housing Investment Trust. She also worked at the U.S. Department of Agriculture’s Rural Housing Service and with the Virginia and Maryland state governments.__________________________________________________________________________Florida-based Black Knight, Inc. and Docutech have created a strategic alliance to bundle Docutech’s advanced ConformX document generation engine as part of Black Knight’s comprehensive Origination Suite of solutions. Including ConformX in the Black Knight Empower Now! loan origination system (LOS) implementation process not only further optimizes the loan process for customers and providers, but helps lenders eliminate the time and resources needed to search for and contract with a separate loan document provider.“Docutech is dedicated to providing lenders with solutions that enable them to manage their document needs more efficiently while maintaining the highest level of compliance tools and offering their customers a more modernized loan experience,” said Amy Brandt, President and CEO of Docutech. “We are proud to work with BlackKnight to include ConformX with an Empower Now! implementation for faster, more efficient data integration and document exchange to enhance a seamless, secure onboarding process.”By integrating ConformX with Empower Now! implementations, lenders can now generate dynamic loan documents, auto-populated from data stored in Empower. Using rules-based intelligence and pre-configured automation capabilities, data is imported and systematically populated on the required documents generated by the lender to streamline onboarding. Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Buy-to-let mortgage stress test shock

first_imgHome » News » Housing Market » Buy-to-let mortgage stress test shock previous nextHousing MarketBuy-to-let mortgage stress test shockBank of England announces new curbs on buy-to-let lendingSheila Manchester30th September 20160854 ViewsHOT TOPIC This story is being discussed in the forum nowThe Negotiator says:Buy-to-let could well be damaged by lending limitsHave your say Can buy-to-let work with new limits? As mortgage approvals continue to fall – down to 60,058 in August from 60,925 in July – buy-to-let lending is also likely to decrease with the latest news from the BoE’s Prudential Regulation Authority (PRA) which has confirmed that a series of investors’ affordability checks and interest rate “stress tests” will be introduced from January 2017.Buy-to-let lenders will be required to verify that landlords can afford to pay the mortgage under potential future interest rates of 5.5 per cent, as the PRA recommended that the interest coverage ratio, a commonly used measure of the ratio of rental income to mortgage payments, does not fall below 125 per cent.Affordability assessments will need to take into account borrower’s costs, personal income and possible future interest rate increases, with lending to portfolio landlords to be assessed using a specialist underwriting process.“The PRA’s actions are intended to bring all lenders up to prevailing market standards and guard against any slipping of underwriting standards during a period in which firms’ growth plans could be challenged by the changing economic landscape and the impact of forthcoming tax changes,” it said.Peter Williams, Executive Director of Intermediary Mortgage Lenders Association (IMLA) said, “IMLA welcomes the decisions published in the PRA’s expectations for buy-to-let underwriting standards, which are broadly in line with industry’s expectations. They offer a sensible way forward, setting sector wide baselines while at the same time allowing for firm discretion to be exercised.“We are encouraged that the new standards are to be implemented in a sensibly phased way over the course of the next year. In the interests of a stable market for buy-to-let mortgages and housing overall, this 12 month window should now be allowed to unfold free from additional change and upheaval.“Some points of contention remain. There will be continuing concerns about the level playing field with firms outside of the PRA regime, though that is now clearly on the agenda of both the FCA and Bank of England. The use of a borrower minimum interest rate of 5.5% will also remain a source of tension, not least if interest rates fall again.“Since the consultation was first announced, we have seen BTL activity slow considerably – especially in the purchase market – which was entirely predictable following a host of fiscal and regulatory actions affecting landlords. Separate market data from the Bank of England today is also a timely reminder that the post-Brexit landscape remains unclear, with overall mortgage approvals having dipped in August as summer set in.“The PRA’s goal of making best practice an industry standard for BTL lending and ensuring activity is sustainable remains entirely valid in this new landscape. At the same time, the new housing minister has also made clear that a good, thriving private rental sector remains important to the overall health of the UK’s property market and its ability to satisfy people’s housing needs. Access to mortgage finance is a vital part of this equation and as landlords continue to absorb changes to stamp duty and mortgage interest relief, some breathing space is needed so the market can progress into 2017 and beyond on a secure and stable footing.” HOT TOPIC This story is being discussed in the forum nowThe Negotiator says:Buy-to-let could well be damaged by lending limitsHave your say Can buy-to-let work with new limits?investor mortgage Bank of England BoE buy-to-let September 30, 2016Sheila ManchesterRelated articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more