DS News Webcast: Thursday 8/28/2014

first_img DS News Webcast: Thursday 8/28/2014 The Best Markets For Residential Property Investors 2 days ago Previous: Report: Annual Rate of Home Sales Falling Next: Influential Leader in Housing Shines Light on Servicing Is Rise in Forbearance Volume Cause for Concern? 2 days ago August 27, 2014 525 Views Subscribe 2014-08-27 Jordan Funderburk Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Foreclosure activity was down all over the nation in July, particularly in the area of foreclosure inventory – homes that are in any stage of the foreclosure process – where there was a 34.4 percent drop from July 2013, according to CoreLogic’s July 2014 National Foreclosure Report released earlier this week.CoreLogic reported a foreclosure inventory of about 640,000 for July 2014 compared to 976,000 in July 2013. Analysts believe that number could drop to as low as 500,000 by the end of the year based on current trends.In July 2014, there were approximately 45,000 foreclosures completed, a decline of 21.2 percent from July 2013. Month-over-month, the number of completed foreclosures fell by 8.5 percent. The number of completed foreclosures is dropping but still has a way to get back to its pre-2007 levels, before the decline of the housing market. The nation averaged about 21,000 completed foreclosures per month from 2000 to 2006. Since the beginning of the financial crisis in 2008, approximately 5.1 million foreclosures have been completed nationwide.Boosted by an increase in secondary market purchases and a decline in sales, Freddie Mac’s portfolio grew for the first time this year in July. In its July 2014 Monthly Volume Summary released on earlier this week, the mortgage giant reported 0.1 percent annualized growth in its total mortgage portfolio last month—a turnaround after six straight months of declines. Year-to-date, the portfolio’s annualized growth rate is minus 1.7 percent. As of July 31, Freddie Mac’s portfolio value was up still slightly under $1.9 trillion. About Author: Jordan Funderburk Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Home / Featured / DS News Webcast: Thursday 8/28/2014 Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Featured, Media, Webcasts Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

How to optimize the return of your credit union’s investment portfolio: Part 1, the basic strategy

first_img“An investment in knowledge pays the best interest.” So said Benjamin Franklin, a guy with good judgment, common sense and who also knew a thing or two about human nature and the world in general. Knowledge about skillfully managing your credit union’s investment portfolio can not only optimize the portfolio’s return, it can help you mange your credit union’s overall interest rate risk, credit risk and liquidity risk too. And you don’t have to be Ben Franklin to do it.In this first article in an exclusive series for CU Insight on managing CU investment portfolios, I’ll summarize both the benefits and the basic steps of skillfully managing your credit union’s investment portfolio, which can limit risk and optimize the portfolio’s return so that you can better serve your members. You can likely do better than simply packing your CU’s investment portfolio with relatively low-yielding CDs and yet still limit your risk to a reasonable level. And although CDs are widely regarded as safe and insured investments, they do come with some liquidity risk. Why? Because they are intended to be held to maturity and they may carry penalties for early withdrawal. In any event, your market haircut can be significant. Holders of CDs who wish to sell them may be required to do so at a discount, particularly in a rising interest rate environment where other, higher-yielding, CDs are available to buyers.Properly managing your CU’s investment portfolio can also help with regulators. The NCUA is concerned about rising interest rates and the effect it will have on CU investment portfolios. In fact, the NCUA expressed this concern in their Economic Update video released on October 1, 2014. In it, the NCUA’s Chief Economist, John Worth, concluded by saying this about rising short-term interest rates and the resulting possibility of narrowing net interest margins for CUs:Here at NCUA, our chief concern is that credit unions are aware and prepare for this possibility. Credit unions should have a firm idea of how their income statements and balance sheets are affected by a rapid rise in short-term rates and they should have a plan for dealing with the potential consequences.As experienced CU executives know, when interest rates rise, the price of bonds fall – including bonds in CU investment portfolios. As a result, the NCUA is concerned that when rates rise, the bonds in CU investment portfolios will lose value and maybe even go underwater. If it’s any consolation, the NCUA is not the only government regulator with these concerns. According to our friends at Invictus Consulting, regulators at two recent banking conferences in California and Nebraska offered insights into the problems they are seeing at community banks. Although we all know that CU’s are regulated by the NCUA, not the OCC or FDIC as banks are, history demonstrates that regulators of CUs and banks frequently share similar concerns and focus during their respective examinations. For example, the Federal Reserve and the OCC, like the NCUA, see interest rate risk as a central issue, though credit risk is also now appearing on their radar screens. The OCC expressed some surprise at these conferences that not all community banks have chief risk officers. And in addition to interest rate risk, the FDIC said it was seeing many banks buying securities for the banks’ investment portfolios that the bankers didn’t fully understand. Many banks should perform better securities due diligence and monitor their unrealized losses, even if they are not required to hold capital against those losses. The FDIC also indicated that banks with increased interest rate risk would be more closely scrutinized. The lesson here? Properly managing your CU’s investment portfolio for optimal return with an eye to managing interest rate risk, credit risk and liquidity risk can help convince regulators (and your board members) that your CU’s balance sheet is in good hands.The basic steps for successfully managing a credit union investment portfolio are simple on the surface. Here they are:Create a plan (e.g., draft a good investment policy);Execute the plan (e.g., buy the right securities at the right price and sell the wrong securities at the right price);Monitor the portfolio on an ongoing basis (e.g., keep an eye on the credit, liquidity and interest rate risk of the securities in the portfolio);Graciously accept accolades for doing a good job (optional, but recommended).As I’ll discuss further in future articles, examiners often look to determine whether your credit union really follows its own investment policy. If you don’t follow the provisions of the policy, whether in the purchase of securities, monitoring of them or any other provision, expect to receive a request for an explanation for it from the examiners regardless of whether your credit union is legally obligated to do it. In other words, if you put it in the policy, you’re expected to comply with it. Incidentally, this applies to all policies – not just investment policies.In my next CU Insight article, I’ll explain step 1, the basics of writing an investment policy, which will be followed a third article about step 2, executing the investment policy by selecting the proper securities for your credit union’s investment portfolio – without paying an arm and a leg for them. The fourth and last article in the series will cover step 3, monitoring your CU’s investments (step 4 is up to you). In the meantime, here’s some food for thought from Warren Buffett (another guy who knows a thing or two about investing and human nature) “Investing is putting out money to be sure of getting more money back later at an appropriate rate.” Simple, right? 12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,David Barnes Mr. Barnes, a licensed attorney and registered investment advisor representative (Series 65), leads the Heber Fuger Wendin team in service to their institutional and individual clients. He became a Heber … Web: www.heberinvestments.com Detailslast_img read more

Alice “Fay” Brown July 12, 1942 – February 9, 2020

first_imgAlice “Fay” Brown, age 77 of Harrison, Ohio passed away at her home Sunday, February 9, 2020. Born July 12, 1942 in Welch, West Virginia, the daughter of Carmon “Charlie” and Dora (Evans) Bates.Fay married Pearl Brown March 3, 1958 in Totz, Kentucky. Attended New Haven Road Family Worship Center in Harrison, Ohio.Fay is survived by her children Ronald (Diana) Brown, Gerald (Loraine) Brown, Jeff Brown, Sharon (Steve) Oberrecht, Debra (Rob) Brandes and Gregory Todd (Cathy) Brown. Grandmother of 13 and great grandmother of 18. Sister of Peggy Sturgill.Preceded in death by her parents Carmon “Charlie” and Dora Bates, husband Pearl Brown, and brother Charles Evans.Visitation will be held Wednesday, February 12, 2020 from 10:00 A.M until time of funeral service at 11:00 A.M. with Pastor Dave Garrett officiating all at Jackman Hensley Funeral Home 215 Broadway Street Harrison, Ohio 45030. Burial will follow at New Haven Cemetery.Memorials may be directed to Hospice of Cincinnati c/o the funeral home.last_img read more

Kambi seeks to become ‘clutch player’ of NBA betting

first_img GiG lauds its ‘B2B makeover’ delivering Q2 growth August 11, 2020 Share BetInvest: The benefits of separating esports betting markets August 7, 2020 Kambi takes full control of LeoVegas sportsbook portfolio August 26, 2020 Related Articles Submit Share Stockholm-listed sports betting platform and software provider Kambi Group Plc views the start of the new NBA season as yet another early pacesetter for the liberalised US betting market.The technology group has revamped its entire NBA markets inventory, seeking to bring new betting dynamics to the unique sport of basketball.Kambi states that it has developed the sector’s most comprehensive and engaging NBA betting inventory designed to make its US clients the ‘top destinations for basketball wagering’.Developed with a view to engaging audiences from ‘match tip-off to the final buzzer’, Kambi significantly expands its NBA player prop bets for pre-game and in-game markets.Kambi partner sportsbooks will be able to offer unique markets such as ‘type of field goal’, ‘next point scorer’ and ‘total player points’.Furthermore, for seasoned basketball punters Kambi has developed a vast array of ‘pre-game alternative lines’, as well as a selection of ‘relevant in-game lines’, allowing for deeper market variance rather than the standard ‘money line or spread’.Stefanos Moysidis, Kambi Head of Live Basketball, states that the ‘complexity of offering these markets should not be understated’, as Kambi development has had to match ‘official data sources with sophisticated algorithms and uniquely skilled basketball traders.“The NBA has become extremely popular over the last few years, with the game becoming faster, smarter and teams relying on analytics more than ever before,” Moysidis explained.“Superstars are dominating games with a barrage of three-pointers and bettors are increasingly wanting to wager on high-profile players and choose their own lines. At Kambi, we have embraced these changes and developed our offering to cater to a new and more informed audience.” StumbleUponlast_img read more