Industry Analyst Defends Massive Pay Hike for Fannie Mae and Freddie Mac CEOs

first_img Fannie Mae FHFA Freddie Mac GSE CEO Compensation The Collingwood Group 2015-08-03 Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Industry Analyst Defends Massive Pay Hike for Fannie Mae and Freddie Mac CEOs Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea The debate continues as to what the compensation level for the CEOs of Fannie Mae and Freddie Mac should be since FHFA Director Mel Watt announced on July 1 that the top executives at the GSEs would each be receiving raises from $600,000 annually to about $4 million.Last week, the House Financial Services Committee passed HR 2243, the Equity in Government Compensation Act of 2015, by the overwhelming majority of 57 to 1. The bill, introduced by Rep. Ed Royce (R-California) in May, seeks to reinstate the salary caps for the Fannie Mae and Freddie Mac CEOs that Watt eliminated, and is now headed to a full House vote.At least one analyst disagrees with capping the salaries, however. Tim Rood, chairman of the Washington, D.C.-based business advisory firm the Collingwood Group, wrote on the firm’s Voice of Housing blog that he hopes the bill is defeated in the House and that the two CEOs, Donald Layton at Freddie Mac and Timothy Mayopoulos at Fannie Mae, receive the multi-million pay raises granted them by their regulator.”From my perspective, these CEOs deserve a raise,” Rood wrote. “They’ve demonstrated their worth, stabilizing the companies and supporting market recovery. Yet, I understand that my perspective on a rational move to raise their salaries to a level more equitable with those of their industry peers is not perceived by others in the same way. The optics are difficult, so it’s no surprise that this bill has bipartisan support.”The cap eliminated by Watt slightly more than a month ago was put in place three years ago by then-acting FHFA director Ed DeMarco as a compromise between satisfying the demand for a reduction in those executive salaries while the GSEs remained under conservatorship of the FHFA and maintaining adequate pay for line staff, according to Rood. While not ideal, he said, the compromise reached three years ago helped the GSEs to retain high-quality, experienced staff.Rood said that the salary debate of Fannie Mae and Freddie Mac CEOs was resurrected three years later only because Congress has yet to decide on the future of the two GSEs, another topic on which there has been much debate. While most everyone agrees the FHFA’s conservatorship of Fannie Mae and Freddie Mac should end, not everyone agrees on what should replace the GSEs, if anything.The choice doesn’t have to be polarized, as the political positions suggest – allow the GSEs to accumulate capital and spin them off as private companies or pull them into the Federal government entirely,” Rood said. “But, whatever choice is made, the details around salaries and structure of the GSEs will fall in to place. In this bizarre half-human half-horse arrangement, there are no easy answers. However, what is being proposed will not help taxpayers and will not help the housing market – good politics is very often bad policy.” in Daily Dose, Featured, News, Secondary Market The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 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. The Best Markets For Residential Property Investors 2 days ago Previous: Goldman Sachs Agrees to $270 Million RMBS Settlement with Pension Funds Next: Third Circuit Court Rules in MERS’ Favor in Pennsylvania County Recording Casecenter_img Related Articles August 3, 2015 1,639 Views  Print This Post Home / Daily Dose / Industry Analyst Defends Massive Pay Hike for Fannie Mae and Freddie Mac CEOs Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac GSE CEO Compensation The Collingwood Group The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more

The Motet Share Psychedelic Video For New ‘Fool No More’ Tune [Watch]

first_imgBeloved funk band The Motet shocked fans everywhere at the end of last year, when they announced that Jans Ingber would be departing the band. Not wanting to break their stride, the funk ensemble from Colorado brought on Lyle Divinsky, who has been leading the band to new heights with his powerful vocal style. With plans to headline Red Rocks Amphitheatre this summer, alongside Medeski, Martin & Wood andVulfpeck, the band has another exciting announcement to make: a new album.Jans Ingber On Leaving The Motet And His Future In MusicOn July 8th, the group will release Totem, their first studio release with Divinsky, as produced by Lettuce/Soulive guitarist Eric Krasno. They’ve already dropped the first single, “Damn!“, and today share a psychedelic journey through the album’s second single “Fool No More.” The previously unreleased track comes with an official video that brings the artwork of Totem alive for a funky-fresh animation. Check it out!last_img read more

Stolen car leads troopers in multi county pursuit

first_imgOn Thursday, September 12, Officers recovered a vehicle reported stolen out of Bartholomew County after a 10-mile pursuit crossed county lines and ended when the car was remotely disabled.Around 2:30, a Clark County Sheriff’s Deputy advised he was northbound on I-65 near the 18 mile-marker and behind a red Chevrolet Malibu which was reported stolen earlier in the day.  When the Deputy attempted to stop the vehicle, the car increased speed and tried to flee from the officer.  Numerous officers were in the area and joined in the pursuit including officers from the Indiana State Police in Sellersburg and the Clarksville Police Department. The vehicle continued north on I-65 and into Scott County, eluding officers attempts to use Stop Sticks along the way.  The passenger was also observed throwing an unknown substance out of the passenger window of the car.  Realizing the car was equipped with a subscription-based navigation and security service, Indiana State Police Dispatch contacted the service and requested the vehicle be remotely disabled.  Once the vehicle was disabled, it began to slow down and safely stopped on the side of the roadway.  After officers detained both occupants, the investigation also revealed meth and paraphernalia inside the car. The driver, Ryan Andrew Moody, 40, of Columbus, and the passenger, Audrey Fay Crank, 20, of Hope, were taken into custody without incident and remanded into the Clark County Jail.  They are both charged with Possession of Methamphetamine, and Possession of Paraphernalia.  Moody is also charged with Auto Theft and Reckless Driving.last_img read more

McDowell up to eighth

first_img McDowell, who defeated US Open champion Webb Simpson in a play-off at Hilton Head, moves from 18th to eighth in the latest standings, while Luke Donald’s share of third place was enough to see him climb from sixth to fifth. France’s Raphael Jacquelin, who won a record-equalling nine-hole play-off in the Spanish Open, climbs from 146th to 94th. Graeme McDowell’s victory in the RBC Heritage has lifted the Northern Irishman back into the top 10 of golf’s world rankings. Latest leading positions in world rankings: 1 Tiger Woods (12.05), 2 Rory McIlroy (10.90), 3 Adam Scott (8.01), 4 Justin Rose (6.80), 5 Luke Donald (6.64), 6 Brandt Snedeker (6.37), 7 Louis Oosthuizen (5.78), 8 Graeme McDowell (5.56), 9 Steve Stricker (5.53), 10 Matt Kuchar (5.33), 11 Phil Mickelson (5.15), 12 Lee Westwood (5.07) 13 Keegan Bradley (5.01), 14 Sergio Garcia (4.86) 15 Charl Schwartzel (4.859), 16 Bubba Watson (4.858), 17 Ian Poulter (4.85), 18 Webb Simpson (4.78), 19 Dustin Johnson (4.57) 20 Jason Dufner (4.53). center_img Press Associationlast_img read more

We won’t rest on laurels – Fergie

first_img United will not get their hands on the Premier League trophy for another fortnight, yet already minds are turning to the best way of strengthening Ferguson’s squad. Whilst the United boss believes only a couple of additions are required, he has been told additional cash will be available if the right man comes along. “Having spoken with the Glazer family, there is every intention to kick on,” Ferguson said. “We possibly need two players. It depends. If a player came along who met our criteria we would push the boat out and get him, irrespective of how many players we have.” Press Association The Glazer family have assured Manchester United manager Sir Alex Ferguson they intend to “kick on” from the club’s record 20th championship.center_img It is bad news for United’s domestic rivals, given they are already well behind. Not that such an easy stroll to championship glory can be anticipated next term, with Manchester City sure to strengthen and Ferguson expecting a renewed threat from Chelsea, especially if Jose Mourinho returns to Stamford Bridge. “Chelsea will definitely be involved next year,” the Scot said. “They have some good players and it looks likely Mourinho will be going there.” United head to Arsenal still with the aim of reaching Chelsea’s Premier League points record of 95 points, which they would eclipse by winning their remaining four games. It is those little targets that allow Ferguson to attain so many big ones, and ensure he is never short of an incentive to motivate his players. “I said last week I don’t mind winning the league in the last game of the season,” he said. “Now we have won the league with four games left, I look at it as being one thing to win the league, another to do it by beating the record. Ninety-six points would be phenomenal. I don’t know if that could ever be beaten.” Ferguson has a few “bumps and bruises” to assess before he finalises his line-up although Paul Scholes will not be in it. However, Ferguson is hopeful of having the veteran midfielder, who has not played since January due to a knee injury, back to make what could be his farewell appearance against Swansea at Old Trafford on May 12. “Paul is back training now,” Ferguson said. “He has been training for a week and is obviously not ready for Sunday but hopefully we will have him ready for Swansea in the last home game of the season.” last_img read more

WLAX : Needing win, Syracuse returns home for 1st time since February

first_img Published on April 6, 2011 at 12:00 pm Syracuse has been a little homesick. After limping through a six-game road trip with a 2-4 record, the separation from its home environment was evident.‘It’s always sunny and 70 in the Dome,’ SU senior attack Tee Ladouceur said, ‘instead of other places, where weather ailments can sometimes affect the outcome of a game. The Dome is nice.’The Orange (3-6, 1-0 Big East) has only played two of its nine games at home this season, and its subpar overall record demonstrates the effects. In his three years as head coach, Gary Gait has led his Syracuse teams to a .793 winning percentage in the Carrier Dome. And with this year’s squad in desperate need of a win, it’s a better time than ever to be back in Syracuse.Friday, SU takes on Connecticut (6-4, 0-2) in its first home game since Feb. 27.Since Gait began his tenure in 2008, Syracuse has compiled Dome records of 10-1, 7-2 and 6-3. This year, SU is 1-1. Never before has a Gait-led team lost more than two games on the road. So far this year, it has lost five.AdvertisementThis is placeholder textIn its two games at home, SU is averaging 15 scores per game. In its seven on the road, SU is averaging 9.4.‘I think it’s a whole mixture of things,’ Ladouceur said of the road struggles. ‘We’re not always on the same page together. Obviously, we’re looking to win games, even when we are on the road.’As far as winning games in the postseason, there is a definite advantage for the team that owns the road-warrior mentality, Gait said earlier this season. But as far as winning games — and more importantly, building chemistry — in the regular season, playing a few within the friendly confines can’t hurt.SU’s backup goaltender Alyssa Costantino, in her first season with the Orange, still vividly recalls the first time she set foot inside.‘I remember the first time I saw it. I actually got goose bumps,’ Costantino said. ‘It feels like a professional field, so when you walk in, you’re like, ‘Wow, this is big time.”Perhaps the setting the Dome provides creates a sense of intimidation for the Orange’s opponents. And after SU dominated the Huskies last season on the road, the friendly confines of the Dome are only an added advantage.When the two teams met in Storrs, Conn., last season, the Syracuse defense forced 17 turnovers and allowed just one goal in each half en route to an 11-2 win. SU has won all 13 of its previous matchups with the Huskies and is a perfect 6-0 at home.‘All the other teams come in here and have big eyes and are like, ‘Wow, this is it,” said SU starting goaltender Liz Hogan. ‘And we get to be here every day.’Since losing to top-ranked Maryland on March 12, Syracuse has been outscored by only three goals in a five-game stretch (54-51). It has won two of the five, but both wins came against unranked teams in Towson and Rutgers. The three losses have all come against ranked opponents in Florida, Northwestern and Dartmouth.The question now becomes whether Syracuse is losing because it has been playing games on the road or because it is being outplayed.Come Friday, the answer will materialize. Perhaps the answer to resolving the struggle is as simple as returning back home.Syracuse now has that opportunity, and when the Huskies visit the Dome this Friday, SU will look to get over the homesickness that has come with a 2-5 road trip.‘There are no excuses for losing these games when we’re away,’ Ladouceur said. ‘Those are games that we should have won, but obviously here, there is a comfort zone.’[email protected] Commentscenter_img Facebook Twitter Google+last_img read more

CONCACAF forced to change World Cup qualifying plans as FIFA cancels September international break

first_img“The challenges presented by postponements to the football calendar, and the incomplete FIFA rankings cycle in our confederation, means our current World Cup Qualifying process has been compromised and will be changed. We will now work with the new framework provided and liaise with FIFA to finalize a new World Cup Qualification format for the CONCACAF region”We will also work with our stakeholders to reorganize the CONCACAF Road to Gold Cup Qualifiers (originally scheduled for March and June 2020), the Concacaf Nations League Finals (originally scheduled for June 2020) and a range of other suspended competitions.”A further update on World Cup Qualifying and other CONCACAF men’s international competitions will be provided in the coming weeks. We will also continue to work with FIFA and the other Confederations on the international match calendar process for women’s football to ensure we are well placed to support the return of the international women’s game as soon as possible.” The start of World Cup qualifying was set for that window, with the Hexagonal set to kickoff during that period with the top six teams per the FIFA rankings.With the coronavirus continuing to hit hard across parts of North America, CONCACAF will now be forced to alter plans in the run up to the 2022 World Cup.”CONCACAF welcomes the decisions made by FIFA regarding the men’s and women’s international match calendars,” the federation said in a statement. “Many of our Member Associations and their communities continue to face significant challenges due to COVID-19 and our thoughts are with them at this difficult time.”The rescheduling of competitions, and agreements on new international match dates, provide some encouragement across the football world and enable Concacaf to progress our planning to resume men’s and women’s international football when it is safe to do so.”The federation had been preparing for this to happen for some time, with CONCACAF discussing the uncertainty surrounding World Cup qualifying since the outbreak of the coronavirus.CONCACAF still intends to hold the finals for the federation’s inaugural Nations League as well, adding another complication to scheduling going forward.Without an international break since February due to the cancellations of the March and June windows, the next opportunity to take the field would be in October if all goes to plan.FIFA has helped matters a bit by pushing back the start of the from March 2022 to June 2022 while lengthening the June 2021 window by one week, CONCACAF’s World Cup qualifying campaign will look different this time around after FIFA confirmed that the September international window has been cancelled.FIFA confirmed on Thursday that the September window would not go ahead for federations outside of Europe and South America.last_img read more