Boyd begins laying off furloughed employees

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 14th July 2020 | By contenteditor Casino operator Boyd Gaming has taken the “extremely difficult decision” to lay off staff members still on furlough, having warned in May that disruption caused by novel coronavirus (Covid-19) could force it to significantly cut headcount.In May, at a time when the casino sector was shuttered as a result of Covid-19, the operator informed workers that between 25% and 60% of staff could lose their jobs, with layoffs likely to take place between 1 and 14 July.The layoffs are at the lower end of the scale suggested in May, Boyd told iGB. This comes after the business placed the majority of staff on furlough in April, which it described at the time as a “last resort”.Boyd explained that while it had been able to reopen most of its properties since May, the business was still facing “significant restrictions”, and visitation remained “well below pre-pandemic levels”.“Given these ongoing challenges and continued uncertainty, we are moving forward with permanent layoffs of team members who were still on furlough and had not been recalled to work,” a spokesperson for the operator told iGB.Read the full story on iGB North America. Topics: Casino & games People Boyd begins laying off furloughed employees Subscribe to the iGaming newslettercenter_img Casino operator Boyd Gaming has taken the “extremely difficult decision” to lay off staff members still on furlough, having warned in May that disruption caused by novel coronavirus (Covid-19) could force it to significantly cut headcount. Regions: US Casino & games Email Addresslast_img read more

Cement Company Of Northern Nigeria Plc (CCNN.ng) 2013 Abridged Report

first_imgCement Company Of Northern Nigeria Plc (CCNN.ng) listed on the Nigerian Stock Exchange under the Building & Associated sector has released it’s 2013 abridged results.For more information about Cement Company Of Northern Nigeria Plc (CCNN.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Cement Company Of Northern Nigeria Plc (CCNN.ng) company page on AfricanFinancials.Document: Cement Company Of Northern Nigeria Plc (CCNN.ng)  2013 abridged results.Company ProfileCement Company of Northern Nigeria Plc manufactures and sells cement in Nigeria under the brand name Sokoto Cement. The company produces CEM II type cement which is used by the home building and construction sectors in Nigeria for making cement blocks as well as for plastering and concrete works. CEM II type cement is renowned for its high early strength, rapid setting and low heat of hydration which is ideal for major construction works. The cement brand name is taken from the founder of the company, the Premier of the then Northern Region, Alhaji Sir Ahmadu Bello, Sardauna of Sokoto. It was incorporated in 1962 and started producing cement in 1967 to meet the demand for cement needed for the expansion of Kalambaina Plant. Cement Company of Northern Nigeria Plc was privatised and a member of Heidelberg Cement Group, Scancem International ANS of Norway, was elected core investor and technical partner in 2000. A Nigerian-based firm, Damnaz Cement Company Limited, became the new core investor in 2008 when Heidelberg divested its stake in the business. BUA International Limited acquired Damnaz Cement Company and became the majority shareholder in Cement Company of Nigeria plc and its technical partner. The company’s head office is in Lagos, Nigeria. Cement Company of Northern Nigeria Plc is listed on the Nigerian Stock Exchangelast_img read more

Berger Paints Plc (BERGER.ng) HY2019 Interim Report

first_imgBerger Paints Plc (BERGER.ng) listed on the Nigerian Stock Exchange under the Building & Associated sector has released it’s 2019 interim results for the half year.For more information about Berger Paints Plc (BERGER.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Berger Paints Plc (BERGER.ng) company page on AfricanFinancials.Document: Berger Paints Plc (BERGER.ng)  2019 interim results for the half year.Company ProfileBerger Paints Plc is a manufacturing company in Nigeria producing paint, surface coating and allied products for the residential, commercial, marine and industrial sectors. The company has an extensive product range which is divided into decorative/architectural finishes, industrial coatings, marine and protection coatings, automotive/vehicle finishes, and wood finishes and preservers. Berger Paints has a manufacturing plant and distribution centre in Lagos and over 25 distribution points in the major towns and cities in Nigeria. Berger Paints Colourworld is a retail outlet which offers a wide range of products and offers support with expertise and colour development software. Colourworld also offers an advanced automotive tinting system and colour software and carries a supply of paint tools and applications. In 2012, Berger Paints Nigeria Plc partnered with KCC Corporation, the largest heavy duty coating manufacturing company in South Korea. The partnership facilitates the supply quality, durable coatings for the marine and protective sectors. The company was established in 1959 by Lewis Berger, a German colour chemist who founded the Berger Paints’ dynasty in London in the late 1970s. Its head office is in Lagos, Nigeria. Berger Paints Plc is listed on the Nigerian Stock Exchangelast_img read more

3 UK shares I’d buy to double my money in 2021

first_img Our 6 ‘Best Buys Now’ Shares I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Simply click below to discover how you can take advantage of this. Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Andy Ross owns shares in Polar Capital Holdings. The Motley Fool UK has recommended Polar Capital Holdings. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images 3 UK shares I’d buy to double my money in 2021center_img Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Andy Ross | Wednesday, 16th December, 2020 | More on: EZJ IAG POLR I’m generally optimistic for UK shares over the next year or so. I think there are many shares that have the potential to double my money over the 12 months. From a long list then, I’ve narrowed down to these top three UK shares, which I have the most confidence in. I believe they can give me 100%+ returns.  My top UK share for doubling my money in 2021While I’m very optimistic about Experian and Diageo, the share I think is best placed to double my investment, over the next 12 months, is Polar Capital Holdings (LSE: POLR).5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…It’s not the best known of companies, but this boutique asset manager has plenty of growth potential. Polar Capital has a number of funds in various sectors, but with a special focus in technology.The firm has been increasing its investing teams. I believe this will boost assets under management in future years. In turn that should lead to higher earnings and profits.The group also has opportunities to expand into new, faster growth markets such as Asia. That is an area of focus for the management that could bear fruit for investors in the coming years. It’ll be especially profitable for those who buy the shares cheaply. Overall I think the shares look cheap and management has a plan to grow the company. I’m confident the shares can head up over both the short and the long term.An industry that could recover from the pandemicI think airlines, especially the big ones like International Consolidated Airlines and easyJet, will eventually emerge stronger from the pandemic. The reaction of the shares to vaccine news suggests other investors agree. IAG’s share price is up over 30% in the last month.My theory is that there’s a lot of pent up demand building. Many who’ve held onto their jobs during lockdown have increased disposable income as they have cut down on socialising and possibly also commuting. I think many people, once the worst of the pandemic is over, will want to make up for lost time. A holiday will feel long overdue.The airlines will naturally pick up much of this demand. Before the pandemic, the industry was expected to grow. That picture has changed – for a while – but better conditions will return for the industry next year or perhaps the year after.In the meantime airline shares are cheap. In my opinion, they are undervalued even after the recent gains they’ve made. To me, they represent a long-term opportunity to buy and hold.Polar Capital Holdings, IAG, and easyJet then are the three UK shares I back to all be able to double any investment I made now, within in the next 12 months. “This Stock Could Be Like Buying Amazon in 1997” I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Andy Rosslast_img read more

The economy’s a mess. Here’s how I’m investing in UK shares now

first_imgThe economy’s a mess. Here’s how I’m investing in UK shares now Obviously, the economy is a mess. In the UK, we’re in the third lockdown within the last year. Not only has the past year taken a toll on human life, it has also been a big setback for business. This of course, has implications for UK shares because investors are reacting to macro news. Dismal economic scenarioSo when dismal news on the economy coincides with weakness in the FTSE 100 index over the past two weeks, it’s hardly a surprise. British households are holding back their expenditure, the proportion of workers on furlough has risen to the highest point since July, and public debt is ballooning, reports Reuters.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…The future’s also somewhat uncertain. Economists expect the UK economy to contract in the first quarter. The International Monetary Fund has also slashed its forecasts for the UK for 2021 by a whole 1.4 percentage points. Reasons for cheerBut while these are big challenges to contend with, I think there are a number of positives to consider too. Despite a growth forecast cut for 2021, the UK is still expected to grow by 4.5%. By 2022, growth is expected to rise to 5%. I think this in itself is a good place to start. Additionally, we could soon start seeing proof of activity picking up as the lockdown comes to an end with vaccinations well underway. Many FTSE 100 companies are globalised, which means that even higher growth elsewhere is good news for these UK shares and the index.Choosing a UK share to buy  With this as the context, I’m most inclined to buy FTSE 100 shares that meet two criteria:Their share price should have potential to rise further. A lot of shares’ prices have run up in the stock market rally that started in November, even though they are financially weak. My sense is that their return to financial health, as the economy normalises, is already baked into the current share price.Their future should look relatively secure. While there is vulnerability in the current environment, there are some companies doing relatively well. Diageo’s one to watchOne such stock for me is the FTSE 100 alcohol producer Diageo (LSE: DGE). It just reported organic net sales growth for the half-year ending 31 December 2020, though its reported sales are down. Nevertheless, organic sales numbers are important, because the increase happened despite the lockdowns and closure of pubs and restaurants. The company has also increased its dividend payout. Moreover, it has an eye towards the long-term future. The drinks industry, like others industries such as retail, tobacco, automotive, and oil, is seeing big changes in trends as demand for non-alcoholic drinks rises.  There are some risks to buying the stock, however. Its share price has run up quite a bit since November, and its earnings ratio is 49 times. I can think of safer stocks with lower ratios, like Unilever, with a ratio of 17 times.Still, it’s below the all-time-highs seen in 2019. And if things keep getting better, which is more likely than not, I think DGE should be a winner.  I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. “This Stock Could Be Like Buying Amazon in 1997” Our 6 ‘Best Buys Now’ Shares Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Simply click below to discover how you can take advantage of this.center_img Manika Premsingh has no position in any of the shares mentioned. The Motley Fool UK has recommended Diageo. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images Manika Premsingh | Sunday, 31st January, 2021 | More on: DGE Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! See all posts by Manika Premsingh I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.last_img read more

Diocese of Los Angeles announces plan for resuming use of…

first_img Rector Martinsville, VA Associate Priest for Pastoral Care New York, NY Director of Music Morristown, NJ Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Members of St. James the Great Episcopal Church have not worshipped in the Newport Beach, California, building since mid-summer 2015. Photo: St. James the Great Episcopal Church[Episcopal News Service] The Episcopal Diocese of Los Angeles released a statement Nov. 9 outlining a plan for future use of a disputed church property in Newport Beach, California, including the eventual resumption of worship services there by the St. James the Great congregation.The property has been at the heart of disciplinary proceedings this year against Los Angeles Bishop J. Jon Bruno for his attempts to sell the church, and members of St. James the Great have been forced to worship in a Civic Center community room while the property remains in dispute.The disciplinary hearing panel found Bruno guilty of the St. James complainants’ allegations and said he should be suspended from ordained ministry for three years because of misconduct. Bruno has appealed the hearing panel’s ruling.Los Angeles Bishop Coadjutor John Taylor and the Rev. Rachel Anne Nyback, president of the diocese’s Standing Committee, said in October that the diocese would help St. James the Great regain mission status, but such efforts did not include the immediate return of the congregation’s pastor, the Rev. Cindy Evans Voorhees.The statement released Nov. 9, signed by Taylor, Nyback and Voorhees, said that after St. James the Great regains mission status, it will be invited to resume use of the church, and Taylor will name Voorhees vicar. The diocese also plans to use part of the facility for its Redeemer Center for Diocesan Ministries.The full text of the statement is below, and an additional message from Taylor can be found here.Making All Things New: St. James the Great Episcopal Church and the Redeemer Center for Diocesan MinistriesKey principles:—  The church’s sudden closing hurt the people of St. James. Their leaders countenanced hurtful statements and tactics. This cycle of hurt strained relationships in the diocese. We will end the cycle by sharing our narratives openly and honestly, using reconciliation in relationship to rediscover our unity and purpose as a diocesan family in Christ.— The diocese will continue to engage in discernment about mission and ministry in south Orange County. The diocese has no plans to sell the church. The diocese reserves the right to make whatever decisions about its resources that it may think best for the glory of God and in service of God’s people.— While this reconciliation and discernment work goes on, the people of St. James should be able to worship in the church and experience renewal and inspiration from the celebration of Holy Eucharist and service to God’s people in community. St. James pledges to participate fully in the work of diocesan reconciliation and discernment and abide by their outcomes.Next steps:— The diocese will use a portion of the facility as the Redeemer Center for Diocesan Ministries. Tenancy will be at the bishop’s discretion. The bishop will oversee its work, and those leading its justice, outreach, service, or spirituality ministries will report to the bishop.— Once St. James has been granted mission status, it will be invited to resume use of the church. Once Bishop Taylor, by the grace of God, is diocesan bishop, he intends to name Canon Voorhees as vicar. All understand that vicars and bishop’s wardens serve at the discretion of their bishops and that bishops, as rectors of mission churches, oversee all their operations, mission, and ministry. Once formed and seated, the St. James Bishop’s Committee and wardens will enter into a standard letter of agreement with the vicar, requiring the signature of the bishop.Until this preparatory work is complete, the diocese may reopen the church for weekly celebrations of Holy Eucharist by supply clergy. Bishop Taylor and Canon Voorhees will be among those on the rota.The diocese and St. James will diligently observe all canonical and diocesan requirements and procedures governing mission churches. St. James understands that the proposed 2018 Mission Share Fund budget for mission churches is fully obligated for the sake of communities where the need is great. The diocese will do all it can to assist St. James in restarting.— St. James will stop using communications strategists and social media to advocate in connection with its relationship to the diocese. The diocese and St. James hereby repudiate all past and future anonymous correspondence sent on their behalves. If those responsible for Save St. James The Great wish it to persist as a non-profit organization, they will change its name and devote it to a religious or charitable purpose.Signed:The Rev. Dr. Rachel Anne Nyback [for the Standing Committee]The Rt. Rev. John Harvey TaylorThe Rev. Canon Cindy Evans Voorhees Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Property The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Rector Hopkinsville, KY In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Rector/Priest in Charge (PT) Lisbon, ME Rector Knoxville, TN Priest-in-Charge Lebanon, OH Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Curate (Associate & Priest-in-Charge) Traverse City, MI Assistant/Associate Priest Scottsdale, AZ Submit a Press Release Diocese of Los Angeles announces plan for resuming use of disputed church property Featured Events Associate Rector Columbus, GA New Berrigan Book With Episcopal Roots Cascade Books Family Ministry Coordinator Baton Rouge, LA Press Release Service Rector Tampa, FL Rector Collierville, TN Canon for Family Ministry Jackson, MS Priest Associate or Director of Adult Ministries Greenville, SC Tags AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 center_img Associate Rector for Family Ministries Anchorage, AK Missioner for Disaster Resilience Sacramento, CA Curate Diocese of Nebraska Submit a Job Listing Rector Smithfield, NC Posted Nov 9, 2017 Director of Administration & Finance Atlanta, GA Rector Albany, NY Submit an Event Listing Assistant/Associate Rector Morristown, NJ This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Youth Minister Lorton, VA Course Director Jerusalem, Israel Rector Shreveport, LA Rector Washington, DC Bishop Diocesan Springfield, IL Assistant/Associate Rector Washington, DC Rector Belleville, IL Rector (FT or PT) Indian River, MI Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Rector Bath, NC Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Bruno Hearing, Cathedral Dean Boise, ID Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Rector and Chaplain Eugene, OR Rector Pittsburgh, PA Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Featured Jobs & Callslast_img read more

PF’s 50 Most Influential poll closes tomorrow

first_img  18 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 28 February 2008 | News PF’s 50 Most Influential poll closes tomorrow AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Recruitment / people Professional Fundraising magazine’s “50 Most Influential” in fundraising poll closes tomorrow. It aims to highlight the “people, trends, concepts and fundraising tools that transform giving to UK charities and non-profits”.The magazine wants to know who has the most influence. Is it “donors or funders, law makers or regulators, technology gurus, hedge fund managers, celebrities or just sheer creative brilliance on behalf of individual fundraisers”?Nominations for the fifth year of this poll close on 29 February 2008.www.fundraisingawards.co.uk/page.php?pg=10&yr=11 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

Charities Trust adopts Appian platform to improve donation management

first_img Charities Trust has announced that it is now using the Appian Platform to help it manage the £100 million in donations it handles each year.Charities Trust supports more than 1,000 corporations and their employees worldwide by managing their giving, and will now use Appian’s cloud-based low-code business management platform to manage and distribute their donations. Low-code technology helps users develop applications faster and more easily, requiring minimal hand coding.Its first Appian application, Charity Portal, has helped Charities Trust to streamline on-boarding and lifetime relationship management for the charities it works with by improving visibility and responsiveness, and also providing Charities Trust with more centralised, auditable, and sustainable processes. The application also unites users, data, and processes through simple interfaces on web and mobile devices to help speed up decision-making and action.Lee Blackburn, CTO at Charities Trust, said:“We have earned a trusted reputation at the heart of corporate giving, and we want to extend that as we transform into the digital future. Appian allows us the flexibility to remain unique in our business offerings, and the power to personalise our service for our clients and donors.” Paul Maguire, Senior Vice President EMEA at Appian, said: Advertisement  372 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis5 Melanie May | 16 August 2019 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis5 Charities Trust adopts Appian platform to improve donation management  371 total views,  2 views today “Charities, like all other industries, operate in an increasingly competitive and complex market, and they must remain agile and adaptable to change. Appian empowers organisations from all sectors to deliver on their digital transformation goals.”Charities Trust is working with Procensol, an Appian delivery partner to deliver its first projects. Tagged with: Donation management Technology About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.last_img read more

FWISD general elections to occur soon

first_imgJoey McReynoldshttps://www.tcu360.com/author/joey-mcreynolds/ Grains to grocery: One bread maker brings together farmers and artisans at locally-sourced store Twitter Fort Worth set to elect first new mayor in 10 years Saturday print Fort Worth to present development plan for Berry/University area near TCU Abortion access threatened as restrictive bills make their way through Texas Legislature ReddIt ReddIt Joey McReynoldshttps://www.tcu360.com/author/joey-mcreynolds/ Previous articleArtapalooza provides a day of fine arts for Tanglewood studentsNext articleFort Worth ISD takes a look at STAAR testing Joey McReynolds RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter Joey McReynoldshttps://www.tcu360.com/author/joey-mcreynolds/ The109: senior minister at University Christian Church announces resignation Trump to appear at Fort Worth Convention Center Linkedin Joey McReynolds Facebook Linkedin Joey McReynoldshttps://www.tcu360.com/author/joey-mcreynolds/ Fort Worth Firefighters Charities posts signs for drowning prevention month + posts last_img read more

Freddie Mac Continues Transferring Credit Risk to Private Investors

first_img Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, News, Secondary Market  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Freddie Mac Continues Transferring Credit Risk to Private Investors Share Save About Author: Brian Honea Previous: VRM Mortgage Services Awards Grant to U.S. Air Force Veteran Next: DS News Webcast: Thursday 11/5/2015 Demand Propels Home Prices Upward 2 days ago Subscribe Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Credit Risk Transfer Freddie Mac Structured Agency Credit Risk 2015-11-04 Brian Honea The Best Markets For Residential Property Investors 2 days ago Freddie Mac Continues Transferring Credit Risk to Private Investors Freddie Mac has continued its successful credit risk transfer initiatives with another Structured Agency Credit Risk (STACR) Offering priced at more than $1 billion, according to an announcement from Freddie Mac.This debt notes transaction, STACR Series 2015-DNA3, is Freddie Mac’s seventh of the year and is a continuation of Freddie Mac’s efforts to reduce its exposure to credit risk and at the same time bring private investors back into the single-family market.“We have demonstrated our ability to execute credit risk transactions on a regular basis with a standard structure and have been transparent in our disclosures,” said Mike Reynolds, Freddie Mac vice president of Credit Risk Transfer. “Our loans are subject to Freddie Mac’s underwriting standards, internal fraud prevention and quality control review process. We are finding with each issuance that STACR is more diverse, liquid and durable.”The loans in the reference pool comprising STACR Series 2015-DNA3 are single-family mortgages acquired by Freddie Mac from December 2014 through March 2015. The loans in the reference pool have an aggregate unpaid principal balance (UPB) of more than $34.7 million. Freddie Mac holds the senior loss risk in the reference pool and a portion of the risk associated with Class M-1, M-2, and M-3, and the first loss Class B tranche.Freddie Mac’s risk-sharing initiatives include 16 STACR debt note offerings (including this one) and 11 Agency Credit Insurance Structure (ACIS) transactions since becoming the first agency to market credit risk transfer transactions with STACR and ACIS in the middle of 2013. Since then, Freddie Mac has grown its investor base to more than 170 unique investors, including reinsurers. The Enterprise has laid off a substantial portion of credit risk on single-family mortgages totaling $367 billion in UPB.This transaction is the fourth in the STACR program out of the 16 transactions that provides coverage on an actual loss basis, according to Freddie Mac. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 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. Tagged with: Credit Risk Transfer Freddie Mac Structured Agency Credit Risk Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago November 4, 2015 974 Views last_img read more