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[ad_1] This week’s HW+ member spotlight features Rodney Moss, Executive Vice President at LoanCare. HW Media: What is your current favorite HW+ article and why? Rodney Moss: All my favorite articles in HousingWire revolve around servicing innovation – really anything and everything that can help improve the overall experience for homeowners and enhance an asset’s value. HW Media: What is the best piece of advice you’ve ever received? Rodney Moss: It was early in my career when I was in investment banking. At the time, I was a financial analyst doing a 100-hour weekly grind when my managing director shared this piece of advice with me: “The business world is divided into two groups of people – processors and rainmakers. You‘ll need to decide which is the one you want to be”. That was an interesting perspective. I understood that it takes a team effort for a business to be successful but had never thought of what type of role I wanted to pursue. The rainmaker concept really resonated with me and piqued my interest in business strategy and development. It’s the synergy of market opportunities with business relationships that really energizes me. Creating mutually advantageous partnerships that not only grow revenue but also serves as a catalyst for innovation.  HW Media: If you could pick a different career path, what would it be? Rodney Moss:  I would have been a surgeon. I have always been fascinated with that side of the medical field – where highly trained and skilled individuals make critical, often life-saving decisions and then follow through on those decisions with technical procedures and precise movements. However, the requisite 10 years of medical school was a significant detractor for me. HW Media: When do you feel successful in your job?  Rodney Moss: I feel like a success at my job whenever all stakeholders involved in a potential, new or existing business relationship feel like “it’s a win” – instances where everyone in our organization is excited about a partnership, everyone on the client side is excited about the partnership, and the customers who we service are benefiting from that partnership – which is to realize a better overall experience. HW Media: What’s 2-3 trends that you’re closely following? Rodney Moss: I’m closely following the Mortgage Servicing Rights (MSR) market and how it is functioning right now both in terms of current price levels and active participants. I’m also watching the supply of MSRs, whether they will continue to be trading at record levels, who is buying, and how that will affect the subservicing market. Another trend I’m keeping my eyes on is the increasing use and transparency of servicing data to make better portfolio decisions to manage assets and portfolios more effectively. HW Media: What keeps you up at night (think of a problem or issue in the housing space) and why? Rodney Moss:  The affordability problem for first-time homeowners is of considerable concern to me. How are my children going to access the housing market given current price levels and institutional investors buying up properties on an all-cash basis? After all, housing is the largest creator of wealth. But if you cannot access that first home, how is that wealth going to be developed? I don’t think enough attention is being paid to this issue because it affects everyone in our society.  Join HW+ members and others, to this years HousingWire Annual, go here to register. To become an HW+ member, click here. For more information on HW+ benefits, click here. To view past issues of our HW+ exclusive HousingWire Magazine, go here. The post HW+ Member Spotlight: Rodney Moss appeared first on HousingWire. [ad_2] Source link

[ad_1] Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors. We’re all Volker-ians now Paul Volker is generally credited as the person who “broke the back of inflation” as the Governor of the U.S. Federal Reserve in the 1970s. I imagine his name is Googled often these days, as markets and investor sentiment continue to be massively influenced by inflation concerns. In the same way former debates around Keynesian fiscal policy ideas appear to have been decisively agreed upon by governments around the world, Volcker’s single-minded determination to use contractionary monetary policy in order to drag down price inflation appears to have become a dominant approach. Due to the fact the Fed’s committed to fighting inflation at all costs, it’s no surprise the markets reacted strongly—and negatively—when the news came in that, according to the CPI report from the Bureau of Labor Statistics, costs were up 0.1% in August and 8.3% year-over-year. While 0.1% may not sound all that important, it is higher than the slight decrease that was widely expected. Even with a 10.6% slide in the gasoline index, cost increases to food, shelter and medical care were all up substantially. Both the fixed-income and equities markets strongly reacted, with the S&P 500 index taking a 4.3% hit—its biggest drop since the pandemic panic hit. Interest-sensitive tech companies on the NASDAQ experienced an even steeper 5.2% decline. The professionals who are pricing assets right now are looking at these inflation numbers, plus the rhetoric of Fed Chair Jerome Powell, and concluding that interest-rate rises may be even more drastic than previously expected. Source: Financial Times Meanwhile, U.S. Treasuries immediately shot higher in anticipation of the exact same “higher faster, and for longer” interest rate predictions. Source: Financial Times While there’s still some debate on the degree to which painful interest rates are needed to fight inflation, it appears that for now, Volker-ians are firmly in the driver’s seat.  Oracle’s foresight worked better on revenues than profits Oracle (ORCL/NYSE) was the major earnings story south of the border this week. The company reported adjusted earnings per share of USD$1.03 (versus USD$1.07 predicted). Revenues were more upbeat at the exact USD$11.45 billion forecasted by analysts, and 18% higher on a year-over-year basis. Investors didn’t take the news too hard, as shares were down only 1.35% on Tuesday (substantially less than the average loss on the day for an S&P 500 company).  Oracle announced the closing of the USD$28 billion acquisition of health data software maker Cerner. It shows just how much larger the U.S. market is than our humble Canadian market that a company the size of Barrick Gold (or triple the market cap of Canadian Tire) can be acquired. And it barely moves the needle when it comes to investment headlines. Larry Ellison, co-founder, chair, and tech chief at Oracle, took direct aim at Amazon’s profitable cloud business, saying, “I personally have been talking to some of Amazon’s most famous brands that are running at AWS [Amazon Web Services]. And the AWS bill is getting very large. And they can save a huge amount of money by moving to OCI [Oracle Cloud Infrastructure]. And I expect next quarter we’ll be announcing some brands, some companies moving off of Amazon to OCI that will shock you. I’ll stop there.” There wasn’t a whole lot of new earnings info in Canadian markets this week, although classic Canadiana brand Roots released some mixed news on Tuesday.  If your glass is half-full, you would say Roots’ total sales were up more than 20% year-over-year. If you’re more the half-empty type, you might be more inclined to point out that the company lost CAD$3.2 million (versus CAD$1.2 million for the quarter last year).  Overall, Roots believes it is on track for the all-important holiday shopping season, and that it will not be forced to mark down inventory as aggressively as other retailers. Guardian and Milevsky team up to defeat retirement income worries? In Canadian personal finance news, professor Moshe A. Milevsky teamed up with Guardian Capital LP to create a new product aimed at Canada’s recent—and soon to be—retirees. I first came across Dr. Milevsky when researching options in the world of Canadian annuities.  He is widely known for his extensive work in retirement solutions for Canadian investors such as tontines and annuities. So, what exactly did these two come up with? Guardian LP has created three products:  GuardPath Managed Decumulation 2042 Fund: It seeks to deliver attractive and steady cash flow over a 20-year period through sophisticated risk management techniques aimed at extending portfolio longevity. GuardPath Modern Tontine 2042 Trust: It aims to provide significant payouts to surviving unitholders in 20 years based on compound growth and the pooling of survivorship credits. Hybrid Tontine Series: This combines the strengths of the GuardPath Managed Decumulation and the GuardPath Modern Tontine to offer a holistic solution for the entirety of retirement. Let’s take a look at an example of my favourite option: the Hybrid Tontine Series. Guardian Capital provides a free calculator for use on its site.   Source: Guardian Capital So, this calculator is saying if you invested $100,000 in this product today (and would have to be born between January 1, 1957 and December 31, 1961 to be eligible) then Guardian Capital estimates you will receive $6,500 in distributions each year. Then, if you haven’t yet gone to the “great tax haven in the sky” 20 years after you make the investment, you will be eligible to receive a lump-sum “tontine” payout. In this example case, you’d get $81,783 at a time in your life when many Canadians are worried about increased expenses.  When I asked Guardian Capital about the assumptions behind their returns, they responded by stating, “Guardian assumptions are, in our view, based on sound actuarial principles and conservative market outlooks.”  I believe it’s a fair assessment. To be honest, the combination of actuarial math and investment return

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