Home / Daily Dose / Fannie Mae Dividend Payments to Exceed Treasury Draws Servicers Navigate the Post-Pandemic World 2 days ago Share Save Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. February 21, 2014 723 Views Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Fannie Mae Income Report U.S. Department of the Treasury Demand Propels Home Prices Upward 2 days ago About Author: Colin Robins Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Industry Leader Calls CFPB Deputy Director’s Comments ‘Irresponsible’ Next: Stewart Expands Capital Markets Service Offerings Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Dividend Payments to Exceed Treasury Draws in Daily Dose, Featured, Government, Headlines, News The Best Markets For Residential Property Investors 2 days ago Fannie Mae released its Comprehensive Income Statement for the fourth quarter of 2013, noting a quarterly comprehensive income of $6.6 billion. It was the eighth consecutive quarterly profit for the government-sponsored enterprise (GSE).The report noted the positive quarterly income “contributed to Fannie Mae’s positive net worth of $9.6 billion as of December 31, 2013.”Annual net income for Fannie Mae was $84 billion.The company will pay $7.2 billion in dividends on senior preferred stock to the U.S. Department of the Treasury in March, 2014. The payment marks “the first time in which the company”s cumulative dividend payments to Treasury will exceed its total draws,” the statement reports.Through the end of December, 2013, Fannie Mae requested cumulative draws totaling $116.1 billion and paid $113.9 billion in dividends to Treasury. The March payment will exceed total Treasury draws.The report comments, “Fannie Mae has not received funds from Treasury since the first quarter of 2012.”Since January 1, 2009, Fannie Mae has provided $4.1 trillion in liquidity to the mortgage market through its purchasing and guaranteeing of loans. The GSE enabled borrowers to complete 12.3 million refinancings, 3.7 million home purchases, and financed 2.2 million units of multifamily housing.Fannie Mae credits the strong earnings of Q4 2013 to stable revenues, credit-related income, and fair value gains. Credit-related income specifically received boosts from an increase in home prices, a decline in the delinquency rate, and “updated assumptions and data used to estimate the company’s allowance for loan losses in 2013.”The report notes further factors in the increased income: “Fannie Mae’s 2013 financial results also were positively affected by the release of the company’s valuation allowance against its deferred tax assets and the large number of resolutions the company entered into during the year relating to representation and warranty matters and servicing matters.”However, the report is cautious about the foreseeable future, noting that while it expects to remain strong in the coming years, net income in the future is expected to drop from 2013. Fannie Mae Income Report U.S. Department of the Treasury 2014-02-21 Colin Robins Subscribe
BUDAPEST (Reuters) – Portugal helped their chances of qualifying directly for next year’s World Cup when Andre Silva’s goal gave them a bruising 1-0 win away to Hungary, who played for an hour with 10 men on Sunday.Silva headed in Cristiano Ronaldo’s pinpoint cross three minutes after halftime to give Portugal their seventh successive win in Group B, keeping them three points behind Switzerland who won 3-0 in Latvia to maintain their 100 percent record.Hungary’s Tamas Priskin was shown a straight red card for elbowing Pepe, one of several nasty challenges in the match.Portugal and Switzerland each have one game to play before a showdown in Lisbon on Oct. 10.The winners of the nine European groups qualify directly for next year’s World Cup in Russia and the best eight teams play off for four more places.After scoring, Portugal played much of the second half at walking pace and had an enormous scare in stoppage time when Attila Fiola got behind the defence for a header which was saved by Rui Patricio.Hungary’s chances of making the playoffs were ended after a disappointing campaign which included defeat by Andorra.EARLY CHANCES“It was a match that is difficult to describe,” said Portugal coach Fernando Santos. “We were much the better team for the first 30 minutes until the Hungarian player was sent off and then I don’t know what happened.”“After our goal, we had control but it was always a dangerous situation. I think the players felt the responsibility of this game.”Portugal never got into gear although the game could have gone very differently if they had taken one of several early chances.Ronaldo had a powerful effort tipped over by Peter Gulacsi and then sent a header narrowly wide from Joao Moutinho’s inswinging cross before another effort went straight at the Hungary goalkeeper.Priskin was sent off for elbowing Pepe in the face as they jumped for the ball, leaving the former Real Madrid defender with a cut above his eye.Mate Patkai had escaped with a yellow card in a similar incident with Moutinho a few minutes earlier.The dismissal seemed to affect Portugal more than the hosts as they lost their rhythm.But they broke through three minutes after halftime when a neat exchange of passes sent Ronaldo clear on the left and his perfect cross into the goalmouth was headed in by Silva from point blank range, the 21-year-old’s ninth international goal.Portugal were nearly caught napping when Patkai drove just wide and the visitors spent the rest of the match passing the ball around in midfield while Hungary sat back.
They argued that the 2018 Kwese Premier Basketball League which is the recognised avenue for such selection, has been concluded and Gombe Bulls as champions and Kwara Falcons as runners-up qualified to represent the country at the continental championship.Both teams argued that they are non – partisan and therefore should not be dragged into the politics of the sport by either faction of the NBBF and approaching the court shows their commitment to defend their hard-won mandate to play in the continental tournament.A date for the hearing of the suit is being awaited.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The Gombe Bulls Basketball Club and Kwara Falcons Basketball Club have dragged the Nigeria Basketball Federation (NBBF) board led by Musa Kida to an Abuja High Court over its plan to organise an ‘abridged’ Premier Basketball League for the purpose of selecting the country’s representativesin the 2018/2019 Africa Basketball League, the FIBA Africa Champion Clubs tournament.In the suit No. FHC/CS/1317/2018 filed on November 6, 2018 on behalf of the managements of Gombe Basketball Association and Kwara Basketball Associations respectively, the clubs are seeking an Order of Interlocutory Injunction prohibiting and/or restraining the Musa Kida-led NBBF from conducting any fresh Premier Basketball League for the “purposes of selecting men’s representatives of the 2018/2019 Africa Basketball League pending the determination of the substantive suit”.
Gardai are hunting for two young men who viciously attacked a man at Lower Main Street in Letterkenny leaving him with serious injuries.The savage assault happened around 3am on Friday morning last, August 9th.Two men, wearing tracksuits, attacked a man and kicked and punched him a number of times leaving him in a serious condition. Gardai say the attack may have its origins in another incident which took place earlier the previous evening at Market Square in the town.Gardai in Letterkenny are appealing for anybody who may know anything about this attack to contact them. Gardai hunt for two men after vicious assault was last modified: August 13th, 2019 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:attackGardailetterkenny
Why Tech Companies Need Simpler Terms of Servic… Top Reasons to Go With Managed WordPress Hosting Tags:#Trends#web Related Posts Matthew Robson, a 15-year-old intern at analyst firm Morgan Stanley recently helped compile a report about teenage media habits. Overnight, his findings have become a sensation…which goes to show that people are either obsessed with what “the kids” are into or there’s a distinctive lack of research being done on this demographics’ media use. Robson’s report isn’t even based on any sort of statistical analysis, just good ol’ fashioned teenage honesty. And what was it that he said to cause all this attention? Only that teens aren’t into traditional media (think TV, radio, newspapers) and yet they’re eschewing some new media, too, including sites like Twitter. Teens Say “No Thanks” to Newspapers, Radio, and to Some Extent, TVAccording to Robson’s report (available here courtesy of the Financial Times), today’s teens don’t really consume any of what you could call “traditional” media. For example, notes Robson, they don’t read newspapers because why bother reading “pages and pages of text” when they could instead “watch the news summarized on the internet or TV?”They’re also not interested in listening to the radio. Although they may occasionally tune in to various stations, they prefer online sites like Last.fm where they can stream music ad-free and, more importantly, where they get to pick the playlist – not some unknown DJ. What’s more surprising, perhaps, are Robson’s statements about teens and TV consumption. He says that his peers still watch TV, often tuning into a particular season of TV show or sporting event like football, but the group of “regular TV watchers” who tune into daily programs is shrinking. Also, teens watch less TV than ever before thanks to online streaming services like BBC’s iPlayer. (Robson lives in the U.K.). When commercials come on, teens, unlike more patient older generations who grew up without fast-forward buttons and DVRs, simply change the channel. Internet and New Media Given that teens aren’t into old media like newspapers and radio, you would think that they would be adopting the latest new media crazes like Twitter in droves. Apparently, that’s not the case. In fact, Robson says teens see no point in using Twitter. “Most have signed up for the service,” notes Robson, “but then just leave it as they realize that they are not going to update it.” The teens realize that no one is viewing their profile, so they see tweeting as a pointless activity, he adds. Besides, to update Twitter via text message takes credit (referring to cell phone text plans) and they’d rather use that credit to text their friends. Twitter aside, most teens are into the Internet. They use Facebook for social networking (so it’s not just for “old people?”), they search and research topics with Google, watch videos on YouTube, and download music for their iPods from file-sharing sites. Although that last one is an illegal activity, Robson says it’s still very popular since teens are very reluctant to actually pay for music. Finally, when it comes to online marketing, teens do like viral campaigns but see banner ads and pop-ups as annoying and pointless. They tend to ignore them entirely and never click through. Teens and MobileAlthough teens may be envious of modern smartphones with Internet data plans, they tend to not own these types of devices because they’re too expensive. Instead, teens typically use their phones simply for talking and texting. Video messaging and video calling are also not popular, again due to cost. Teens don’t bother with mobile email either, not needing to be hyper-connected to their inboxes like the adults are. However, one thing teens do use their phones for (outside of chatting and texting) is sharing music files with their friends. They do this using Bluetooth, since the service is free and most phones now support it. Author’s Note: Share music via Bluetooth? In reading that, I immediately felt old. Not only have I never done this myself, I didn’t even know people did this. Were you aware?Do You Agree with Robson?Morgan Stanley notes that Robson’s piece “provides one of the clearest and most thought-provoking insights we have seen” and that’s why they published it even though they don’t have statistics to back up his statements. But by doing so, they’re saying that they believe what he reports is accurate and representative of today’s teens media consumption.Of course, without hard data, a report like this has to be taken with a grain of salt. Still, in reading through it, nothing sounds all that shocking or revealing. That’s probably because on some level we already know what Robson says to be true. Today’s “digital natives” have grown up surrounded by technology and the Internet, so naturally they’re not going to be as interested in old media the way older generations are. Do you agree that the trends Robson notes are real? Or have you seen behavior that contradicts what he reports? Image credit: flickr user Paulo Fehlauer A Web Developer’s New Best Friend is the AI Wai… sarah perez 8 Best WordPress Hosting Solutions on the Market
Steve Mackay is already committed to radiant floor heat in the house he is building. Why not, he wonders, use the same system for cooling?“I’ve read a lot of the pros and cons about using radiant floor heating in a well designed home and I understand that we probably should go with forced air,” Mackay writes in Q&A post. “There are a number of reasons why I am still looking at radiant floor heating, most of which are not technical justifications but more because we really really want it … Having made a decision on radiant floor heating, does it make sense to go with radiant floor cooling?”In areas with high summer humidity, water vapor can condense on cold water lines. Similarly, water can accumulate on flooring cooled by a radiant floor cooling system. But Mackay writes that he is building in Climate Zone 6A where humidity ranges between 20% and 35%. The house will be well insulated and well sealed — walls insulated to R-30, the roof insulated to R-60, and airtightness at 1.5 ach50. In other words, Mackay is planning a much better than code-minimum house.Mackay refers to an article that mentions several successful radiant cooling systems. But they were in airports and schools, not private homes.“Is this even a thing in a residential home?” Mackay asks. “I understand that we will have to be careful about set points to ensure we don’t have condensation buildup on the floors. We are planning polished concrete floors on the basement and on the first floor. (I understand that extra structural support is required for the first floor.) There will be no wood or installed carpet; we will likely have a few rugs here and there. It seems like radiant floor heating combined with a cooling solution might make the decision to go radiant a little more justified.” All About Radiant FloorsGoodbye Radiant FloorIs Radiant Floor Heat Really the Best Option?Green Encyclopedia: Cooling OptionsAnother Perspective on Air-to-Water Heat PumpsAir-to-Water Heat PumpsSplit-System Heat-Pump Water Heaters Is the insulation really necessary?On the insulation question, Jon R says a “staple-up” radiant system (one in which distribution tubing is stapled to the bottom surface of the subflooring rather than installed in special panels like Warmboard) could work, particularly if left uninsulated. In that case, the upper floor might need some additional cooling.“If the resistance below the radiant tubing … is less than the resistance above, very little heat will travel to the space meant to be heated,” says Richard McGrath. “It’s all about resistance. Heat energy, like water or air, is lazy and stupid and will travel the path of least resistance. Insulation is required.”When the floor system includes Warmboard with tile above and a wood subfloor below, Jon R replies, the Warmboard/tile surface will have less resistance. “And it’s not all about R ratios,” he adds. “Air heated from above tends to sit right there, providing less heat to the room below than the ratio suggests. The opposite happens with cooling. If you want a radiant floor to also serve as a radiant ceiling for the space below, insulation gets in the way.”Gibbs says he had similar concerns before he spoke with the system designer. The designer told him one concern was that an air space in the floor would increase thermal mass and therefore increase the system’s response time.“I don’t know if this was explicitly modeled between the first and second floor, but the design calculations do include a 2.25 Btu/h/sq.ft. loss to the unconditioned crawl from the first floor,” Gibbs says. “(This assumed R-19, but we went with R-24 because that was the closest to R-19 we could get with Rockwool’s 24-inch ‘steel stud’ bats that fit our TJI spacing).” Not the easiest sellJustin Gibbs details the system he is installing in his new high-performance home in Boulder, Colorado. It will use an air-to-water heat pump for radiant floor cooling as well as heating.“Getting the system designed and installed has been challenging,” Gibbs writes. “As others have mentioned, radiant cooling in homes is rare. In our area, I couldn’t find anyone outside of commercial outfits that had installed an [air-to-water] ATW system — and the commercial guys had no interest in a project our size.”Gibbs eventually contacted John Siegenthaler, who has written several books on hydronic heating, and Siegenthaler was able to connect him with Harvey Ramer for help with designing the system.“Harvey’s design package was detailed enough for my GC’s plumber to build and commission the system,” Gibbs said. “But getting my GC and plumber comfortable enough with the design to commit to doing it took a lot of work on my part. I had to completely understand the components of the system, walk them through how the system would function, and be available regularly to answer questions and perform inspections.”The system will use a Nordic heat pump and a hydronic buffer tank, with distribution loops set in Warmboard-R radiant panels. Water temperatures will range between 55°F and 95°F.Like Mackay, Gibbs recognizes there are potential disadvantages with a radiant floor system, but the benefits outweigh them.“This is not the most cost-effective way to heat or cool a tight, thermally efficient home,” he says. “Minisplits or central forced air could have worked for a fraction of the installed cost of our system. We decided to do it because we’ve never been thrilled with any forced-air system in any home we’ve lived in, and using the floor avoided ducting, radiators, fan coils, etc. that would have impacted our floor plan.” RELATED ARTICLES Radiant cooling works in dry climatesDana Dorsett suggests such a system works well, provided that humidity is low.“Radiant cooling works well in dry climates with mostly negative latent loads,” he says, “but gets more complicated to control when humidity is higher and condensation on the plumbing manifolds, etc. needs to be managed. Some amount of latent cooling with air coils may need to be included if the design water temperatures are otherwise too low.”Radiant cooling panels in the ceiling or walls are more effective per square foot than radiant floor systems, he adds, due to the tendency of cold air to pool near the floor rather than mix with room air.“Of course it all starts with the load calculations, from which the design water temperatres for doing it solely with the floor can be derived,” Dorsett says.Jon R says the trick will be making sure that the temperature of the floor remains above the dew point. If that doesn’t occur naturally, Mackay may need a Dedicated Outdoor Air System (DOAS) or dehumidification. A heat pump and fan coils for dehumidification made by Chiltrix is one possible answer.Yupster adds that an air-to-water heat pump similar to what’s made by Ecologix can produce both chilled and heated water. But finding an experienced contractor, he says, will be essential. He recommends that Mackay contact Robert Bean at Healthy Heating. What about the extra costs?Gibbs also addresses Mackay’s concerns about how much a combined radiant floor system would add to construction costs. Gibbs had already decided to go with an all-electric house, and that meant using a heat pump as the heart of the system. Simpler and less costly options are available.“The heat source had to be a heat pump, and heat pumps are most efficient at moderate temperatures (our system will be calling for 85°F or lower water for the majority of the heating season),” Gibbs says. “Low water temperatures work best in low-thermal-mass radiant floors/panels, or you can use fan coils optimized for lower temperatures. This brings us to the first big jump in cost for our system. We used Warmboard-R radiant panels to achieve low thermal mass and fast response.”Material and labor for those panels added up to $9.30 a square foot.The rest of the specialized materials for adding cooling shouldn’t have amounted to that much, but putting the plan into action was more complicated and expensive than Gibbs would have imagined. There was the outside designer he needed to hire, increasing design costs by four or five times over a simple system, plus the added 20% in plumbing labor.Gibbs adds that floors must be insulated when the house has a radiant heating (and cooling) system, and in his case forgetting to put that into the budget proved to be a “sizable omission.” Good idea or not? That’s the topic for this Q&A Spotlight. Our expert’s opinionHere’s what GBA Technical Director Peter Yost had to say:I contacted a number of engineers for guidance on this topic, and to a one they referred me to my friend and colleague Robert Bean. About to head off on a business trip when I contacted him, Robert took the time for this detailed and thoughtful response:“Let’s start with this: 100% of all condensation problems in buildings conditioned exclusively with air did not have a radiant cooling system to blame. It is time people stopped focusing on the radiant cooling panel as the problem and focus on the real problem, which is moisture.“It is climate, system, and enclosure dependent…[and so here are] some examples:“For cold, dry climates and good-to-great buildings with sensible cooling flux under 13 Btu/hr/ft2, fabricate the floor cooling system with masonry type surface (tile, stained concrete, terrazzo etc.), and no further sensible cooling is necessary. Ventilate for IAQ and interior moisture control.“For cold, dry climates that can have a short wet season (ex. Calgary), space cooling is not necessary during the brief rains. Ventilate for IAQ and interior moisture control.“For cold, dry climates and high-performance buildings with sensible cooling flux under 5 Btu/hr/ft2, mechanical cooling not necessary. Use night time flushing and elevated air speeds (ceiling fans). Ventilate for IAQ and interior moisture control.“For marine climates (Pacific Northwest) and high-performance buildings with sensible cooling flux under 5 Btu/hr/ft2, mechanical cooling is not necessary. Use dedicated dehumidification and elevated air speeds (ceiling fans), and ventilate for IAQ.“For hot, humid climates and good-to-great buildings, get the sensible flux down below 13 Btu/hr/ft2 with enclosure design and external shading, ventilate for IAQ, and install dedicated dehumidifiers. If there are peak loads that occasionally exceed 13 Btu/hr/ft2, elevate the air speed with ceiling fans to boost the floor performance and enhance occupant cooling. If you can’t get the sensible loads down below 13 Btu/hr/ft2 then increase the cooling surface area by adding radiant walls and ceilings or switch to ceilings and/or walls.“For hot, humid climates and bad-to-good buildings use radiant with a dedicated outdoor air system (DOAS); the radiant panel capacity is determined by deducting the DOAS coils’ sensible capacity from the total sensible load. If the radiant load exceeds 13 Btu/hr/ft2, increase the cooling surface area by adding radiant walls and ceilings or switch to ceilings and/or walls. Add dedicated dehumidifiers if necessary.“In short, all high-performance buildings should include moisture control, which is essential to any radiant floor cooling system. For an overview, see the Radiant Flooring Guide.”When I say that Robert Bean is a colleague and friend, I mean that Robert is a consummate building professional, passionate about his work and the building industry, and a genuinely great person to boot. His online not-for-profit, Healthy Heating, is a resource any high-performance building professional should use.Other resources on radiant floor cooling you might find these useful:“Cooling with Radiant”Uponor Radiant Cooling Design Manual California Energy Commission Project 4.3: Residential Radiant Cooling and Heating Assessment Deliverable 4.3.6a, Final Report (March 2003)
The CEO said that the REB/CSC is currently contracting someone to do the legal research and drafting instructions for the legislation. Story Highlights Speaking at a JIS ‘Think Tank’ recently, Chief Executive Officer (CEO) at the REB/CSC, Sandra Watson Garrick, explained that most gated communities have shared expenses, and, therefore, experience similar problems as Strata Corporations, such as persons not paying maintenance fees; disputes between parties; and general communal living issues. Legislation is in the works for the Real Estate Board/Commission of Strata Corporations (REB/CSC) to be given the responsibility for gated communities. Legislation is in the works for the Real Estate Board/Commission of Strata Corporations (REB/CSC) to be given the responsibility for gated communities.Speaking at a JIS ‘Think Tank’ recently, Chief Executive Officer (CEO) at the REB/CSC, Sandra Watson Garrick, explained that most gated communities have shared expenses, and, therefore, experience similar problems as Strata Corporations, such as persons not paying maintenance fees; disputes between parties; and general communal living issues.“There are some strata corporations that have more than one strata corporation development on the property, and so they share expenses,” Mrs. Watson Garrick noted.She said that, currently, the Registration Strata Titles Act only speaks to each Strata Corporation, but does not address the shared expenses that more than one would have.Therefore, Mrs. Watson Garrick said that if the proprietors refuse to contribute to the overall goodwill or expenses of the development, there is nothing forcing them to do that.She further explained that most times if the developers of the gated communities are savvy, they make purchasers sign an agreement; however, if there is no compliance they would need to take them to court. These are the issues that the legislation will address.The CEO said that the REB/CSC is currently contracting someone to do the legal research and drafting instructions for the legislation.In the meantime, she said that if strata owners feel aggrieved with anything to do with their corporation, they can report it to the CSC, so that the Commission can assist in resolving the dispute.She is also encouraging persons to access the purchasers’ guide that the CSC has published when purchasing real estate for the first time.“If you have any real estate queries please come to us first, and not just when you have gotten yourselves into trouble, as it is easier for us to prevent the problems than to correct them,” she said.