News

[ad_1] Non-QM originations are poised for growth this year. HousingWire recently spoke with Mike Fierman, Managing Partner and Co-CEO of Angel Oak Capital, about the capital markets perspective as well as investor demand and appetite for non-QM. HousingWire: What is the 2022 market outlook for non-QM? Mike Fierman: I believe 2022 is going to be the year that non-QM gives originators a chance to grow their business. Agency rates are on the rise and refinance volume is down. Originators who had their best year in 2021 will have to utilize something else to make up for this loss in 2022 and non-QM can be the answer. In 2022, non-QM originations are likely to hit between $80 billion and $100 billion. There is more focus on non-QM now than ever before. HW: What is the capital markets and investor perspective on non-QM? MF: Non-QM securitizations had their biggest supply year on record in 2021 and we are confident in the growth for 2022. We expect investor demand will continue to be robust and will grow as the sector continues to increase in size. New investors continue to come in and participate in these transactions as their confidence in the non-QM space increasingly builds. Funding costs are rising as the front end of the rate curve sells off. The result is that loan prices have normalized from lofty levels due to supply and funding costs. The perspective all around is positive. HW: How does investor demand and appetite for non-QM origination affect originators’ business? MF: The demand and appetite for non-QM among investors is strong. Overall, it is likely to be a robust origination year for non-QM and originators who utilize it will make a healthy margin. Our investor partners have seen proof of the value in non-QM and how it has performed. Originators can feel confident that focusing on non-QM is a sound strategy to meet their volume goals as well. Our product offerings are put in place to help underserved borrowers and fill a huge void in the market. We surpassed $10 billion in non-QM lifetime securitization issuance– a huge milestone. This serves as confirmation to the prevalence of non-QM lending and the investor appetite for it. HW: How is Angel Oak poised to help originators take advantage of growing non-QM volume this year?  Angel Oak has all channels, resources and technology available for originators. We invite originators to partner up with us and take advantage of all we offer to help increase their volume. We were the early adopter of non-QM back in 2014. Angel Oak has the capital, the experience and non-QM products to help you achieve your goals. Having surpassed $10 billion in non-QM originations, we are experts at the process. Many lenders are just now jumping into non-QM because they see the demand and they have to be competitive to retain and recruit – not to mention stay in business. We committed to this space years ago and plan to be in it for the long haul.   Our correspondent channel is another opportunity where we are growing this part of the business to play an even bigger role in working with originators. We help originators close a loan in their name and then provide a stable balance sheet to partner with. We expect our correspondent channel to contribute a significant portion of our overall business.   The bottom line – non-QM is no longer a “wait until later” space to think about. The volume of 2021 won’t be readily available in 2022. Non-QM can fill that gap and Angel Oak is the leader in the space. The post Why lenders should think about non-QM now, not later appeared first on HousingWire. [ad_2] Source link

[ad_1] What a great deal on these Play-Doh Party Bags! Check out this deal you can snag on Play-Doh Party Bags at Target right now: Play-Doh 15-Count Party Bags — $5.99Buy 2, Get 1 Free Sale$3.99 each after sale These are great for Valentine’s Day or Easter baskets! [ad_2] Source link

[ad_1] Saunas and fire pits: Ottawa’s truck protesters in it for the long haul [ad_2] Source link

[ad_1] Samsung Galaxy Unpacked recap: All the Galaxy S22 and Galaxy Tab S8 news  Tom’s Guide The Samsung Galaxy S22 Ultra is a Note successor with a built-in stylus  The Verge Google Messages set to liven up YouTube links with in-app previews  Android Police Samsung Galaxy S22 hands-on review  Tom’s Guide Samsung launches new Galaxy S22 smartphones and Tab S8 tablets to take on Apple  CNBC View Full Coverage on Google News [ad_2]

[ad_1] Lenders to Future Retail have classified the account as a non-performing asset (NPA), but do not want to take any pre-emptive action and have asked the company to submit a “viable” resolution plan. “There is no deference (in classification of Future Retail as NPA) or so. All of us (banks) have recognised the account as an NPA as on date,” said a banker. Most of the lenders to the company have also made adequate provisions for it. Bankers said they do not want to take any pre-emptive action against the company post the declaration of NPA, as any such step could erode its value. “Only thing is that the further action that we have to take (against Future Retail) on being marked down as NPA, has been kept in abeyance as lenders feel that an opportunity should be given to the promoter to give a viable plan so that recovery can be enhanced,” another banker said. “The company has been asked to give a viable plan and I think they must be working on it,” he added. Earlier in January this year, Future Retail Ltd (FRL) had missed the due date for payment of Rs 3,494.56 crore to banks and lenders. The Kishore Biyani-led Future Group firm had said it could not sell assets due to its ongoing litigation with Amazon, which impacted its monetisation plans. Later, it had moved the Supreme Court requesting it to issue a direction to its lenders not to declare the company as NPA. The Future group firm had also asked for some more time for loan payment. FRL had last year availed the one-time restructuring (OTR) scheme for COVID-19 hit companies from its consortium of banks and lenders, as per an RBI circular dated August 6, 2020, and was to discharge “an aggregate amount of Rs 3,494.56 crore” on or before December 31, 2021. Bank of India is the lead bank in the consortium. During the Q3 results call recently, Bank of India had said it has proactively made 47 per cent provisioning on the account. The consortium of lending banks had told the Supreme Court that the money lent to FRL belonged to the depositors and to safeguard the public interest, the entire assets of the company can be subjected to open bids by Amazon and Reliance with a reserve price of Rs 17,000 crore. Prior to this, the apex court in a verdict on February 1 had set aside three Delhi High Court orders, including one for attachment of properties of FRL and its directors and refusal to grant a stay on the final arbitral award which had restrained FRL from going ahead with its merger deal with Reliance Retail and had ordered fresh adjudication. In August 2020, the Future Group had announced a Rs 24,713 crore deal for sale of the retail and wholesale business, and the logistics and warehousing business to Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd. However, e-commerce major Amazon is contesting the deal through its 49 per cent stake in Future Coupons Pvt Ltd (FCPL), which is a shareholder in Future Retail. The matter is presently in dispute before the Supreme Court and Singapore International Arbitration Centre (SIAC). Reliance Retail Ventures had for the second time extended the timeline for completing the Rs 24,713 crore deal with Future Group to March 31, 2022, as it still awaits regulatory and judicial clearances. In October 2020, an interim award was passed by the EA (emergency arbitrator) in favour of Amazon that barred FRL from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party. [ad_2] Source link

[ad_1] During 2021 and into 2022, the surveys on whether it’s a good time to buy a house have simply collapsed. This did ring some alarm bells last year as many housing crash addicts used the results of Fannie Mae’s Home Purchase Sentiment Index to call for an epic crash in the second half of 2021. That didn’t end well, but let’s take a deeper look at what is happening here. One thing is certain: potential buyers of all ages are not happy about the current market conditions. From Fannie Mae:Recently, the percentage of people who said it was a good time to sell fell as well. So what is going on here? How can we drop buying and selling conditions in the same report? Last year, many of the second half 2021 housing crash bears were using the collapse of this index to say housing was done; nobody wants to buy a home. This was never the case, as purchase application data never once showed a noticeable decline in the data once you made COVID-19 adjustments.  Another interesting fact about 2021 was that certain people put a lot of weight on housing being held up by investors or iBuyers, reflecting that buying conditions had deteriorated so much in the survey in 2021. That same group of individuals was also shocked to see that mortgage demand picked up very noticeably toward the end of the year in 2021; even I labeled the existing home sales market as outperforming due to mortgage demand, which makes the survey look incorrect. So what is the issue here? It’s simple: inventory levels were at all-time lows in 2021 and they just got worse in 2022, don’t make it any more complicated than that. Nobody likes competition when buying a home. It can be stressful enough when the markets are regular, like they were from 2014-to 2019. Now we’re in years 2020-2024 and not only has inventory dropped to all-time lows, but we’re also dealing with the most significant housing demographic patch ever recorded in U.S. history: move-up buyers, move-down buyers with a lot of cash, investors and all-cash buyers. This survey was never about people saying they never want to buy a home; just that the conditions for buying a home are terrible — and I agree with them. By the summer of 2020, I started to worry about inventory levels getting dangerously low. What happens when you have the best housing demographics ever, the lowest mortgage rates ever, and all-time lows in inventory? Unhealthy home-price growth, and it got worse and worse as the year went on. As someone who never believed in the forbearance crash bros and their premise of collapsing demand, which would require a massive number of Americans walking away from their homes, the real fear was realized when total inventory levels never reached above my critical 1.52 million during the spring and summer of 2021. I knew the fall and winter fade of inventory was coming. To make matters worse, mortgage demand picked up in the second half of 2021. The entire housing crash 2021/FOMO premise fell flat on its face, and now we enter 2022 with fresh new all-time lows in inventory. To make matters worse, home-price growth in 2020 and 2021 was so high that it surpassed the five-year price-growth model of 23% I had set for 2020-2024, and that was just to be in an OK position going into 2025. So, I agree with the consumer survey and keep saying this is the unhealthiest housing market post-2010. When prices are rising so quickly, you can understand why homebuyers are stressed. Buying a home isn’t like buying an iPhone or an Xbox; you need somewhere to live every day, and with so much price inflation and meager inventory, you would be stressed too, especially if you keep losing bids. We always talk about the stress of home buying, but we should also include sellers in that discussion. Unless they choose to rent after the sale or sell their investment home, a seller becomes the next natural homebuyer. I know some people can get an extended lease and live in the house after the sale. However, with inventory so low and high competition, there is no guarantee they will get the home they want either. On the surface, the survey looks correct; demand for housing is at pre-cycle highs, and total inventory is at all-time lows with unhealthy home-price growth in the last two years. Also, unlike stocks, the chances of the home you want to buy falling 20% after a bad earnings report are zero. So, it’s a much different sector of our economy because housing is the cost of shelter to your capacity to own the debt; it’s not an investment. Currently, the only solution to create more days on the market is for mortgage rates to rise high enough to facilitate that, and so far, this hasn’t been the case. However, if the 10-year yield can create a range between 1.94% – 2.42% with duration, this should do the trick. If 4% – 4.5% mortgage rates can’t generate more days on the market from this very meager level, then I don’t see anything else in 2022 that will do this. Eventually, prices will get too high, and natural inflation demand destruction will occur; we are just not at that point currently. To wrap it up, I believe the survey is an accurate reflection of the sentiment of homebuyers in America; it’s brutal out there. I disagree with people who said this survey was calling for a crash in demand in 2021 and 2022. We have accurate models to track when housing and the economy are getting weaker; we just don’t have flashing signs of that now. The post Is it really the worst time ever to buy a house in the U.S.?  appeared first on HousingWire. [ad_2] Source link

[ad_1] The post These 6 Steps Will Help You Achieve Financial Freedom appeared first on Millennial Money. If you’re tired of being imprisoned by your finances, learn how to take ownership of your money and — ultimately — your life with these six steps to financial freedom.  Here’s the thing, most of us are financial prisoners. Day in and day out we have to work to pay the bills and overcome debt. We half-heartedly follow a budget, infrequently set aside money for retirement, and don’t expect a break — or the opportunity to live the life we want — until we’re 65, if we’re lucky. Many of us can’t imagine that there’s another way.  There is. It’s called financial freedom. What Is Financial Freedom? Financial freedom is when your finances no longer control your life. It means you no longer need to work to survive — and most importantly — thrive.  True financial freedom isn’t just about paying the bills, but about creating the financial security to live out your most important life goals and dreams. Achieving financial freedom means living without worrying about debt or having enough to cover your expenses. What does financial freedom mean to you? Beyond the textbook definition, the meaning of financial freedom ultimately depends on you. It’s your life, and you get to decide what makes you happy.  You don’t need to be rich to be financially free. You don’t need to own fancy cars and houses (unless you want to). Part of the process of figuring out what financial freedom means to you is assessing your life and understanding how much it will cost to create the life of your dreams.  To get to financial freedom, it’s best to work with a financial advisor. Here are six steps to financial freedom that you can get started on in the meantime. The Steps to Financial Freedom Here are the six steps to financial freedom. Change the way you think about money Determine your current financial situation Set your goals for financial freedom Make that budget and stick to it Create additional sources of income Invest your money! 1. Change the way you think about money A lot of us have negative views of money, our ability to make it, and what it means if we do. And we aren’t necessarily wrong.  Our system is flawed. It enables the rich to get richer, often at the expense of the poor. We are used to employers exploiting workers. It’s the norm to be overworked, underpaid, stressed, and unhappy.  A lot of us are disillusioned by this system. Why do we need to work to survive?  Becoming wealthy or wanting more money can seem like a way to directly support a system that doesn’t look out for everyone. A system that leaves a small percentage of people rich, and a large sum of people unable to make basic ends meet.  While some people pursue wealth in a predatory manner, you don’t have to.  Making money is not inherently evil You shouldn’t feel ashamed for making money if you are doing it in an ethical way. Feeling guilty about wanting more money will limit your ability to find financial freedom for yourself. The truth is that, in America, if you don’t have money, chances are you won’t have the opportunity to live life on your own terms.  Becoming financially free is not about exploiting people to get there. There is a sustainable, honest way to grow your savings so you can live a better life.  You’re not lazy or selfish to want more money Because we live in a capitalist society, the aspiration to live a life without work is often met with resistance from the status quo. Don’t let them get you down. It’s not lazy to want to build a better life for yourself, and it’s not selfish to care about your finances.  News flash! Life is not about work. Life is about what you want it to be about.  You can, and will, become financially free Most of us don’t believe we can make money. But anyone can become financially free with the right plan. Try saying these positive affirmations:  I will be the first person in my family to achieve financial freedom I am smart enough to earn the money to be financially free  I am worthy of a stress-free life of my dreams 2. Determine your current financial situation Once you have overcome your limiting financial beliefs and are fully committed to becoming financially free, you’ll need to face the facts. It’s time to look into your current financial situation. Why? You need to know where you are in order to know where to go.  Understand your current personal finance by finding out your: Net worth  Do this by subtracting your debts (student loans, credit card debt, mortgage, etc) from your assets (cash, investments, etc).  Note that it’s okay if you are starting out with a negative net worth. Remember, this is your starting point.  Debt-to-income ratio Do this by dividing your monthly debt payments by your monthly income. A “good” debt-to-income ratio is widely considered to be 30% or lower. If your debt-to-income ratio is 40% or 50%, your debt is controlling you. Overcoming this debt can be one of your first financial goals. Spending habits What do you spend your money on? You can assess your spending either manually or by enlisting the help of an app like Mint, Personal Capital, or YNAB. Savings rate This is the percentage of your income that you save each month. Find this number by dividing your monthly income by the amount of money you save each month. A saving rate of 20% is considered good, but the higher you can get it, the better. But don’t become so frugal that you can’t enjoy your life! Credit score Unlike the rest of these, you can’t calculate this yourself. Determine your FICO® credit score by using one of many free online credit score tools. The

[ad_1] Don’t miss this great deal on Carter’s Sleep & Plays! Carter’s is running a doorbuster deal to get their 2-Way Zip Footie Sleep & Plays for just $8 right now! You’ll see them on sale for $9, but the price will drop to $8 when you purchase two. There are SO many adorable designs to choose from at this price. And don’t forget about this amazing deal on Carter’s Body Babysuits you can also get right now! Shipping is free on orders over $35 or choose free in-store pickup. Valid through February 16th, while supplies last. [ad_2] Source link

[ad_1] Greece's fledgling tech scene starts to take off [ad_2] Source link

[ad_1] The English Football Association (FA) has sought observations from Derby County manager Wayne Rooney after he said in a recent interview that as a player he wanted to injure an opponent during a game in 2006, British media reported. Former Manchester United forward Rooney told the Mail On Sunday that he wore longer studs in a game against Chelsea at Stamford Bridge because he “wanted to hurt someone”. “I changed my studs before the game,” Rooney said. “I put longer studs in because I wanted to hurt someone.” “The studs were legal,” he added. “They were a legal size. But they were bigger than what I would normally wear.” Rooney and John Terry clashed during the game, with the Chelsea defender receiving treatment. United lost the match 3-0, with Chelsea winning the league that season. [ad_2] Source link