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Posts sent on: 2013-08-10

Aug102013

Polish Premier Mulls Dismissing Finance Minister, RMF Reports











The zloty weakened on the news. The dismissal would be a done deal if Tusk had a good candidate to replace Rostowski, the radio said on its website , citing a politician it didnt name from the ruling Civic Platform party. The government doesnt comment on press speculation, Konrad Niklewicz, a spokesman for Tusk, said by phone from Warsaw. Tusks party has fallen behind the opposition Law and Justice in opinion polls as the government struggles to revive the economy, which is set to growth at the slowest pace since the 1990s this year. Rostowski last month announced plans to widen this years budget deficit and suspend rules limiting fiscal stimulus to aid recovery.














Car finance experts Car Loan 4U comments on the Jaguar XFR-S






Macclesfield, Cheshire (PRWEB UK) 9 August 2013 Jagaur has launched its new XFR-S model, which is on sale now and priced at 79,995. The XFR-S is powered by a 543bhp 5.0-litre V8 supercharged engine and comes with an eight-speed automatic gearbox and rear-wheel drive. When it comes to hitting the road, the XFR-S can go from 0 to 62mph in 4.4 seconds and has a top speed of 186mph. Car Loan 4U Director Ryan Dignan, comments: Theres tough competition out there when you look at the likes of the BMW M5 and the Mercedes-Benz E63 AMG, and the XFR-S would appear to be Jaguars answer.







Finance Ministry working on additional steps to contain rupee fall






The new measures being considered by the Finance Ministry are in addition to steps taken recently by the Reserve Bank to tighten liquidity and curb volatility in the rupee, which touched a life-time intra-day low of 61.80 to the dollar on August 6. The RBI yesterday announced it would auction Rs 22,000 crore of bonds every Monday to suck out liquidity and check speculation in the forex market. Earlier, the central bank had raised the Marginal Standing Facility rate to make borrowing from the RBI expensive for banks. The RBI and the government have also taken steps to curtail imports of gold.




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Aug102013

Obama Endorsement Builds Momentum for Housing-Finance Overhaul









Obama Speech on U.S. Economy, Housing Market

in the hopes that shareholders could recoup some profits. Theyve also been lobbying Congress to allow Fannie Mae and Freddie Mac to become private companies again instead of liquidating them. Some lawmakers say that makes them more determined to act. Taking the path of least resistance and allowing the GSEs to again entrench themselves deeper and deeper into our system of housing finance would be irresponsible and foolish, Corker said in a statement. Its time to seize on the growing momentum to move beyond the broken Fannie and Freddie model. To contact the reporters on this story: Cheyenne Hopkins at Chopkins19@bloomberg.net ; Clea Benson in Washington at cbenson20@bloomberg.net To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net 30:16 Aug.














Five Takeaways on Housing-Finance Reform From Obama?s Town Hall






Well get rid of Fannie and Freddie as they currently exist You cant have an institution in which the government is underwriting and guaranteeing all the mortgage lending thats taking place around the country and big profits are being made by these quasi private institutions, said Mr. Obama. And then if things go wrong suddenly taxpayers are on the hook. 2. but the government will still be there, in some fashion The long-term goal is to have the private market get in there and provide those loans, said Mr.







House finance regulator mulls action on "eminent domain" mortgage seizures






The FHFA is weighing its legal options in any municipalities that approve loan restructuring programs. The agency is also considering preventing Fannie and Freddie from purchasing loans in those communities using eminent domain as a strategy for restructuring distressed mortgages. Both Fannie and Freddie, operating under federal conservatorship since they were taken over by the government in 2008 during the financial crisis, are some of the biggest buyers of private home-loan bonds. If eminent domain plans went forward, they would risk losses on bond investments.




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Aug102013

Housing finance, beyond Fannie and Freddie








Reminder - Fifth Street Finance (FSC) Goes Ex-Dividend Soon




FSC+Dividend+History+Chart

Fannie and Freddie demonstrate that Washington can't use government-sponsored private companies to carry out its housing policies. The companies' ability to privatize profits while sticking taxpayers with their losses poses an enormous and unacceptable moral hazard. And phasing them out won't eliminate investors' appetite for the mortgage-backed securities that supply capital for home loans. Another lesson of the last recession, though, is that the government may be the only party willing to keep credit flowing when times get particularly tough. That's why it makes sense to replace Fannie and Freddie with an entity that can guarantee mortgages when needed in a credit crunch or a time of punishingly high interest rates.








A housing tax credit that helps

Investors including hedge fund Perry Capital LLC and mutual fund Fairholme Funds Inc. have sued the U.S. in the hopes that shareholders could recoup some profits. Theyve also been lobbying Congress to allow Fannie Mae and Freddie Mac to become private companies again instead of liquidating them. Some lawmakers say that makes them more determined to act.







Obama Endorsement Builds Momentum for Housing-Finance Overhaul




Obama Speech on U.S. Economy, Housing Market

As a percentage of FSCs recent stock price of $10.77, this dividend works out to approximately 0.89%, so look for shares of Fifth Street Finance Corporation to trade 0.89% lower all else being equal when FSC shares open for trading on 8/13/13. Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen or click here to find out which 9 other stocks going ex-dividend you should know about, at DividendChannel.com Below is a dividend history chart for FSC, showing historical dividends prior to the most recent $0.0958 declared by Fifth Street Finance Corporation: In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from FSC is likely to continue, and whether the current estimated yield of 10.67% on annualized basis is a reasonable expectation of annual yield going forward. The chart below shows the one year performance of FSC shares, versus its 200 day moving average: Looking at the chart above, FSCs low point in its 52 week range is $9.66 per share, with $11.13 as the 52 week high point that compares with a last trade of $10.79.







RPT-Fitch affirms 6 Taiwan bills finance companies






The affirmation of the six bills finance companies reflects their ability to maintain stable credit profiles despite earnings pressure from persistently low interest rates. Prudently managed asset quality, a stable liquidity environment, and potential regulatory support in liquidity will continue to support their ratings. The ratings also underline Fitch's expectation of adequate management in their capitalisation and liquidity. Key Rating Drivers - Issuer Default Ratings (IDRs) and National Ratings The IDRs and National Ratings of IBF, CBF, DCBFC, TCBFC and GBF are driven by their intrinsic creditworthiness, as reflected in their Viability Ratings (VR). TFC's IDRs reflect the potential for institutional support from its largest shareholders, as reflected in its Support Rating.




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