The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago What are some of the biggest challenges and changes facing default servicing? At the 2019 Five Star Conference and Expo and how Courtney Thompson, SVP, Director of Default Servicing Operations at Flagstar Bank spoke with DS News on these subjects. According to Thompson, the biggest challenge for default servicers right now is volume.”In a lower volume environment, I think it creates a tension where we don’t have all the resources we need to prepare ourselves for when there is more” said Thompson. Flagstar SVP: Low Volume “Tension” Servicers Navigate the Post-Pandemic World 2 days ago Previous: Deputy Assistant Secretary Gisele Roget Leaves HUD Next: Renters Versus Homeowners: Housing Cost Burden default Inventory Volume 2019-11-11 Seth Welborn Sign up for DS News Daily Share Save Home / Daily Dose / Flagstar SVP: Low Volume “Tension” The Best Markets For Residential Property Investors 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. November 11, 2019 1,752 Views Tagged with: default Inventory Volume Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Technology Demand Propels Home Prices Upward 2 days ago Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles About Author: Seth Welborn
The implementation of over-the-counter derivatives contracts, concluded with UK-based parties and extending beyond the Brexit date, could also become stuck, he warned.“These counterparties would possibly no longer have the required authorisation to offer investment services to EU counterparties, or conduct investment activities related to these derivatives contracts,” Hilbers said.Meanwhile, the UK’s Financial Conduct Authority (FCA) said it continued to prepare for a range of scenarios, including a hard Brexit.The FCA is to be tasked by the UK’s treasury department with amending and maintaining EU rules and technical standards after the UK’s membership ends on 29 March 2019. This is in line with the EU (Withdrawal) Act, recently passed by the parliament, which allows the transferral and conversion of EU law to UK law and gives ministers powers to make amendments as necessary.The FCA said its work would “sit underneath the EU regulations and directives and provide technical detail of how those requirements must be met”.Last March, the UK and the EU agreed on a transitional period from 29 March to December-end 2020.During this time, EU law would remain applicable to the UK, with firms, funds and trading venues continuing to benefit from passporting between the UK and EEA as they do today, according to the FCA.“Obligations derived from EU law would continue to apply, and firms must continue with implemention plans for EU legislation that is still to come into effect before the end of December 2020,” the FCA added. Dutch supervisor DNB has urged pension funds to prepare for a so-called ‘hard’ Brexit, as the preliminary agreement for a transition period after the UK leaves in March is not yet legally binding.On DNB’s website, Paul Hilbers, director for financial stability, said that if the UK and the EU failed to reach an agreement on their future relationship, the transitional arrangement could be cancelled.He warned that a hard Brexit could come without equivalence certificates for the UK, which are necessary for companies and financial institutions to access each other’s markets.DNB’s financial stability director explained that pension funds ran the concrete risk of loosing acces to infrastructure in the UK, such as central counterparty (CCP) clearing.