Government-sponsored enterprise

Restb.ai AI-powered computer vision technology offers lenders, appraisers image validation solution designed for GSE-compliance

Retrieved on: 
Wednesday, November 29, 2023
Government-sponsored enterprise, Government, Fannie Mae, Real estate

Restb.ai , real estate’s leading AI-powered computer vision solutions provider, offers mortgage originators and appraisal management companies (AMCs) a GSE-compliant image validation solution with its computer vision technology.

Key Points: 
  • Restb.ai , real estate’s leading AI-powered computer vision solutions provider, offers mortgage originators and appraisal management companies (AMCs) a GSE-compliant image validation solution with its computer vision technology.
  • Recently, Fannie Mae analyzed more than a million appraisals using image recognition technology to compare appraisal reports to interior photos of comparables for comparing condition ratings.
  • The differences in ratings were so significant that Fannie Mae is now using image recognition to detect condition errors.
  • With the GSE moves, mortgage lenders and appraisal firms seek to reduce condition errors by adopting computer vision technology into the appraisal process.

Doma Reports Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, November 7, 2023
Commercial Building & Real Estate, Software, Construction & Property, Finance, Data Management, Professional Services, Technology, Residential Building & Real Estate, Documentation, Government-sponsored enterprise, Housing, NYSE, EBITDA, GAAP, DOMA, Bank statement, Risk, Depreciation, Capitol, Table, Cryptocurrency, Insurance, Q4

Doma Holdings, Inc. (NYSE: DOMA) (“Doma” or the “Company”), a leading force for disruptive change in the real estate industry, today reported quarterly financial results and key operating data for the three months ended September 30, 2023 (1).

Key Points: 
  • Doma Holdings, Inc. (NYSE: DOMA) (“Doma” or the “Company”), a leading force for disruptive change in the real estate industry, today reported quarterly financial results and key operating data for the three months ended September 30, 2023 (1).
  • The financial results and key operating data included in this third quarter release include operating results of Doma prior to completion of the business combination and operating results of the combined company subsequent to completion of the business combination.
  • Local and associated operations are classified as “discontinued operations” and segregated in the Company’s financial results beginning in the third quarter ended September 30, 2023.
  • Doma will host a conference call at 5:00 PM Eastern Time today on Tuesday, November 7, to present its third quarter 2023 financial results.

Approximately Five Million New Borrowers to Gain Access to Mortgage Market Using VantageScore 4.0

Retrieved on: 
Thursday, October 26, 2023
GSE, Senior, Government-sponsored enterprise, Federal, VantageScore, Government, Housing, Research, SAN, Credit, Real estate

Key findings of VantageScore's analysis include:

Key Points: 
  • Key findings of VantageScore's analysis include:
    Imposing a minimum VantageScore credit score of 620 and applying a mortgage eligibility age criterion of 25-65 will give 4.9 million new borrowers access to the mortgage market.
  • From this new pool of borrowers, VantageScore estimates that lenders could originate as many as 2.7 million mortgages, with an annual loan volume as high as $1 trillion.
  • Default rates for consumers newly assessed using VantageScore 4.0 were better or similar to those of consumers conventionally scored.
  • VantageScore 4.0 has been in the market and used extensively by non-mortgage lenders since 2017, building an impressive track record.

Arch Capital Group Names Seamus Fearon CEO, International Mortgage

Retrieved on: 
Thursday, October 5, 2023
Banking, Professional Services, Insurance, Finance, Transfer, Mathematics, Faculty of Actuaries, Acquisition, CRT, Arch, Mathematical finance, Australian Prudential Regulation Authority, Dublin City University, Faculty, GSE, European Market Infrastructure Regulation, Capital Group Companies, Prudential regulation, Government-sponsored enterprise, Financial services

Arch Capital Group Ltd. (Arch) today announced Seamus Fearon has been promoted to CEO, International Mortgage for the Global Mortgage Group.

Key Points: 
  • Arch Capital Group Ltd. (Arch) today announced Seamus Fearon has been promoted to CEO, International Mortgage for the Global Mortgage Group.
  • In his new role, Fearon will be charged with further diversifying the platform of Arch’s Global Mortgage Group — the global leader in aggregating, managing and syndicating mortgage credit risk.
  • “Diversifying our mortgage portfolio has been a key strategy for the Global Mortgage Group over the last several years, and Seamus has played a critical role in growing our international business,” said David Gansberg, CEO of Arch’s Global Mortgage Group.
  • “Under Beau’s leadership, the International Mortgage group had many accomplishments including a first-of-its-kind capital relief transaction in Europe that helped establish our capabilities in that market.

STATEMENT BY THE NATIONAL ASSOCIATION OF REAL ESTATE BROKERS PRESIDENT COURTNEY JOHNSON ROSE

Retrieved on: 
Monday, September 25, 2023
Housing, Fannie Mae, FHFA, Estate agent, National Association of Real Estate Brokers, American Dream, NAREB, Freddy, Federal Reserve Bank, Government, Pain, Organization, Civil Rights Act of 1968, Fannie, Federal Housing Finance Agency, Federal Housing Administration, G.I. Bill, Freddie Mac, Federation, GI Bill Tuition Fairness Act of 2013, National Association, White, Government-sponsored enterprise

WASHINGTON, Sept. 25, 2023 /PRNewswire/ -- The National Association of Real Estate Brokers (NAREB) strongly supports the Federal Housing Finance Agency's (FHFA) proposed rule strengthening and codifying the equitable housing finance plans submitted by mortgage giants Fannie Mae and Freddie Mac and the agency's other measures addressing racial disparities in homeownership. These plans are one of the federal government's most effective methods of increasing homeownership for families of color and expanding their opportunities for affordable rental housing. Under the proposed rule, Fannie's and Freddie's fair lending and fair housing functions and equitable housing finance plans become statutory requirements. Further, their operations will receive clearer and more appropriate oversight, compliance, and enforcement.

Key Points: 
  • Under the proposed rule, Fannie's and Freddie's fair lending and fair housing functions and equitable housing finance plans become statutory requirements.
  • These measures are necessary to address decades of racially biased public policies and private practices aimed at preventing Blacks from becoming homeowners.
  • In 2019, the median wealth for White households was $188,200, compared to $24,100 for Black and $36,100 for Hispanic households.
  • (For print or broadcast interviews with NAREB President Courtney Johnson Rose, contact Michael Frisby, [email protected] /202-625-4328.)

Flat Footed LLC Sends Letter to Diversified Healthcare Trust’s Board of Trustees Regarding Its Opposition to the Merger with Office Properties Income Trust

Retrieved on: 
Tuesday, May 23, 2023
Other Construction & Property, Construction & Property, REIT, File 13, Optimism, Housing, SHOP, Bank statement, Disclosure, Nonsense, Form 10-K, Tenant, Government-sponsored enterprise, Sale, RMR, Real estate investment trust, Ageing, EBITDA, Trust, Acquisition, DHC, Health and Wellness Center (Marshall University), Investment, Life Time Fitness, OPI, NOI, Growth, Death, Bankruptcy, FFL, Security (finance), Bank, Gum arabic, Cryptocurrency, Commercial property, Self storage, Trustee

FFL opposes and intends to vote AGAINST the Company’s proposed merger with Office Properties Income Trust (“OPI”).

Key Points: 
  • FFL opposes and intends to vote AGAINST the Company’s proposed merger with Office Properties Income Trust (“OPI”).
  • We believe the Board of Trustees (the “Board”) has failed DHC’s stakeholders by pursuing the proposed merger, which would unnecessarily burden the Company with OPI’s rapidly declining commercial office properties.
  • Saddling DHC with OPI’s failing office portfolio and rapidly deteriorating balance sheet makes no sense.
  • It appears the Board has failed shareholders by prioritizing the external manager’s interests above all else.

PenFed Credit Union Welcomes Terry Grafenstine as Chief Audit Executive, Executive Vice President

Retrieved on: 
Wednesday, May 24, 2023
Enterprise, University, Government-sponsored enterprise, Central Waqf Council, Pentagon Federal Credit Union, IIA, Certified Public Accountant, CISA, American Institute of Certified Public Accountants, Institute of Internal Auditors, Accounting, Audit, AICPA, CGEIT, Citigroup, Chief audit executive, CIA, Certified Information Systems Security Professional, CPA, ISACA, CISSP, American Institute, House, CRISC, Saint Joseph's University, Management, Risk

TYSONS, Va., May 24, 2023 /PRNewswire/ -- PenFed Credit Union, the nation's second largest federal credit union, is pleased to welcome Terry Grafenstine as Chief Audit Executive and Executive Vice President. Grafenstine joins the executive management team and is responsible for leading internal auditing across the enterprise. 

Key Points: 
  • TYSONS, Va., May 24, 2023 /PRNewswire/ -- PenFed Credit Union , the nation's second largest federal credit union, is pleased to welcome Terry Grafenstine as Chief Audit Executive and Executive Vice President.
  • Grafenstine joins the executive management team and is responsible for leading internal auditing across the enterprise.
  • PenFed is proud to welcome her as part of our top-level executive team," said PenFed President and CEO James Schenck.
  • "I am very excited about joining PenFed as its Chief Audit Executive," said Grafenstine.

AppraisalWorks™, Clear Capital Announce Partnership to Streamline Appraisal and Valuation Review for Lenders

Retrieved on: 
Thursday, November 3, 2022
Commercial Building & Real Estate, Technology, Construction & Property, Finance, Fintech, Banking, Professional Services, Software, Other Construction & Property, Residential Building & Real Estate, API, Compliance, Government-sponsored enterprise, GSE, Data collection, PDR, Industry, Senior, Efficiency, Review, Enterprise, Freddie Mac, Patent, Community, Capital, Partnership, Software, Solution, Commercial property, Risk management, Bank

AppraisalWorks , a leading real estate appraisal technology provider, has today announced a partnership with Clear Capital , a national real estate valuation technology company.

Key Points: 
  • AppraisalWorks , a leading real estate appraisal technology provider, has today announced a partnership with Clear Capital , a national real estate valuation technology company.
  • Mutual customers will have access to a wide array of Clear Capitals reliable residential property valuation, data collection, and appraisal review reports through the AppraisalWorks platform.
  • AppraisalWorks is the first partner to leverage Clear Capitals Property Valuation Application Programming Interface (API) , an all-in-one solution that integrates seamlessly with order management systems.
  • We are thrilled to have our Property Valuation API integrated with AppraisalWorks and to expand our partnership with their software, said Rhonda Johnson , Senior Channel Partner Manager for Clear Capital.

Rivada Space Networks Issues RFP for its Satellite Constellation

Retrieved on: 
Thursday, November 3, 2022
Wireless, Architecture, LEO, RSN, Government-sponsored enterprise, Private spaceflight, Government, Laser, Telecom, ITU, Leg, Enterprise, Program, RFP, Industry, Maritime, B2B, Communications satellite, EU

For the first time, Rivada Space Networks will offer access to a secure satellite network with pole-to-pole reach, offering end-to-end latencies similar or better than terrestrial fiber.

Key Points: 
  • For the first time, Rivada Space Networks will offer access to a secure satellite network with pole-to-pole reach, offering end-to-end latencies similar or better than terrestrial fiber.
  • Severin Meister, Rivada Space Networks CEO, further added: "RSN is a German 'NewSpace' innovator and disruptor.
  • Rivada Space Networks Founder Declan Ganley said: "I am thrilled that we have completed this important milestone.
  • Rivada Space Networks is a wholly owned subsidiary of Rivada Networks, Inc. www.rivadaspace.com

Cobham SATCOM Unveils Tactical TRACKER Range of Transportable Tracking Terminals

Retrieved on: 
Thursday, March 17, 2022
GEO, MEO, Tactic, Government-sponsored enterprise, Cobham, Solution, Government, SATCOM, Acquisition, GDS, LEO, Communications satellite

The tracking terminals are easy to operate, fast to deploy and quick to connect going from box to operational in less than 30 minutes.

Key Points: 
  • The tracking terminals are easy to operate, fast to deploy and quick to connect going from box to operational in less than 30 minutes.
  • "Innovation is at the core of Cobham SATCOM, so we're proud to be able to announce the first transportable terminals featuring full multi-orbit tracking capabilities" noted Kevin McMahon, Director of Sales for Government and Defense Solutions.
  • For over 40 years Cobham SATCOM has been a trusted provider innovative, mission-critical satcom systems to navies, ground forces, and civil agencies.
  • Building on Cobham SATCOM's prior generations of portable and transportable terminals for Government and Enterprise, the Tactical TRACKER series offers true portability and transportability.