Senior HSBC bankers in London get half the pay of those abroad

first_imgTuesday 1 March 2011 8:57 pm Show Comments ▼ KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap SENIOR HSBC bankers based in London are getting less than half the pay of their non-UK counterparts, figures released by the bank have shown.UK-based senior staff pocketed an average of £1.22m in total pay last year, of which £927,000 was bonus payments, whereas equivalent staff based outside the UK took home more than double that, with average pay of £2.59m of which £2.14m was bonus.Most of the more highly paid staff are based in emerging markets in Asia and Latin America, where HSBC highlighted the growth of wage inflation during its annual results released on Monday.The numbers show that base salaries are relatively more important for UK staff, with three quarters of their pay coming from bonuses versus over four fifths for non-British employees.The disparity in pay between UK and non-UK staff will fuel fears that the City could lose out in the competition for top talent.The data follows revelations by City A.M. last month that “regretted losses” – the departure of top-rated staff that the banks have tried to keep – are on the rise at both Barclays and RBS. Senior HSBC bankers in London get half the pay of those abroad whatsapp Share Tags: NULL whatsapplast_img read more

Tokyo Olympics: Another senior IOC official, another ‘question raised’ over …

first_imgby Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeCapital One ShoppingThis hack can uncover JOANN discounts you don’t know aboutCapital One ShoppingMicrosoftBring your desktop to life with Bing WallpaperMicrosoft247 Sports50 Best College Football Players Of All Time247 SportsA final decision on whether the postponed Tokyo 2020 Olympic Games can go ahead will be made “in the spring” if questions over the coronavirus crisis persist, according to high-ranking IOC member Pierre-Olivier Beckers-Vieujant.These comments came after Tokyo 2020 Coordination Commission chairman John Coates warned last month that organisers have “real problems” at hand.Beckers-Vieujant, the head of the Belgian Olympic Committee, echoed comments from IOC President Thomas Bach that Tokyo 2020 would be cancelled if it cannot be held in 2021.He said it would be “unthinkable to keep such a project on the go for any longer considering the enormous costs and all the thousands of people involved”.“We are convinced that the Games will take place in 2021 or they won’t take place,” Beckers-Vieujant, chairman of the IOC Coordination Commission for Paris 2024, said.“All the sporting federations have to adapt to the Games’ postponement. “We can’t envisage a similar upheaval a second time.”Beckers-Vieujant’s timeline for a decision on the staging of the Games, due to open on July 23, comes after Tokyo 2020 vice-president Toshiaki Endo said those involved should wait until at least March before determining the fate of the event.Tokyo 2020 had previously remained silent on a possible timeframe on a decision, amid concerns the Games may be cancelled due to the COVID-19 crisis.Also Read : heads the IOC’s coordinating commission for the 2024 Games and he said he wanted Paris “to be different” to past editions.“We want to stage Games that are economically responsible, inclusive, sustainable and useful for society. “The IOC’s desire is that the Games adapt to the needs of cities, countries, and vice versa. Paris will be the first edition that will fully fit into this vision.”“We must fight against gigantism,” he continued. “In Paris, we will return to a budget lower than that of previous editions: 3.8 billion euros for operations and around three billion for all infrastructure. Tokyo Olympics: Another senior IOC official, another ‘question raised’ over Olympics next year Cricket Share on Facebook Tweet on Twitter Previous articleIOA Infighting : As India fights Corona, IOA’S infighting reaches IOCNext articleDarwin T20 League Live: SD v WCC Dream11 Team Prediction, Fantasy Cricket Tips & Playing 11 Updates for Today’s Darwin T20 League Match – June 8th, 2020 Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. InsideSport News Cricket Facebook Twitter YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsored Garena Free Fire: Grab the Rampage Gun Crate with 60% off only for today InsideSport NewsLatest Sports NewsSport It seems the International Olympic Committee (IOC) officials are competing with each other to raise quesitons over the conduct of the Tokyo Olympics next year. In second week in succession, one more high ranked IOC official has created more doubts about the Tokyo Olympics next year.Questions raised over Tokyo Olympics next year ? Happy Father’s Day: ‘We Miss You’, Hardik Pandya pens emotional message for his father By Kunal Dhyani – June 8, 2020 ICC WTC Final: Ravichandran Ashwin reveals when he plans to retire from cricket Cricket Happy Father’s Day: Nostalgic Sachin Tendulkar shares a special item that belonged to his father; Check video Cricket Battlegrounds Mobile India OPEN BETA Crossed 5 Million Downloads SHARE Esports WTC Final LIVE Day 3: Good news, rain unlikely throughout Day 3 as India look to take charge against New Zealand Cricket New UC Price: Krafton has adjusted Battlegrounds Mobile India UC purchase price Esports RELATED ARTICLESMORE FROM AUTHOR Cricket WTC Final Day 3 LIVE Score: Virat Kohli & Ajinkya Rahane ready to battle Kiwi bowlers, follow IND-NZ Day 3 Live Updates Esports Battlegrounds Mobile India Players may face permanent ban for misconduct India Tour of Sri Lanka: From books to gym, Sanju Samson shares story of his quarantine lifelast_img read more

Padenga Holdings Limited ( 2016 Abridged Report

first_imgPadenga Holdings Limited ( listed on the Zimbabwe Stock Exchange under the Agricultural sector has released it’s 2016 abridged results.For more information about Padenga Holdings Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Padenga Holdings Limited ( company page on AfricanFinancials.Document: Padenga Holdings Limited (  2016 abridged results.Company ProfilePadenga Holdings Limited is the leading supplier of crocodile skins and meat in Zimbabwe, accounting for nearly 85% of the global supply of Nile crocodile skins used for high-end luxury fashion brands. The company operates three crocodile breeding and production farms in Zimbabwe; Kariba Crocodile Farm, Ume Crocodile Farm and Nyanya Crocodile Farm. Each farm has the capacity to breed close to 15 000 hatchlings per year. Nile alligators are bred at Lone Star Alligator Farm in Texas, USA. Padenga Holdings Limited produces crocodile skin and meat products for consumption by the local market and for export to European and Asian markets. Padenga Holdings Limited is listed on the Zimbabwe Stock Exchangelast_img read more

Econet Wireless Zimbabwe Limited ( Q42018 Circular

first_imgEconet Wireless Zimbabwe Limited ( listed on the Zimbabwe Stock Exchange under the Technology sector has released it’s 2018 circular results for the forth quarter.For more information about Econet Wireless Zimbabwe Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Econet Wireless Zimbabwe Limited ( company page on AfricanFinancials.Document: Econet Wireless Zimbabwe Limited (  2018 circular results for the forth quarter.Company ProfileEconet Wireless Zimbabwe is a diversified telecommunications group; it is the largest enterprise of its kind in Zimbabwe and the largest company on the Zimbabwe Stock Exchange in terms of market capitalisation. Econet Wireless Zimbabwe provides products and solutions for mobile and fixed wireless telephony, public payphones, internet access and payment solutions. In 2009, Econet Wireless Zimbabwe became the first operator in Zimbabwe to launch data services with 3G capability. This was followed by an extensive project to expand its geographic coverage; building a fibre-optic network, providing financial transaction switching and point-of-sale and value-added retail support services. The company is a subsidiary of a privately-owned group controlled by its founder, Strive Masiyiwa. The group’s subsidiaries include Econet Global, Econet Wireless Africa, Econet Wireless International, Econet Enterprises, Liquid Telecom Group and Econet Media.last_img read more

Marland Yarde raring to go at Harlequins

first_imgLATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS Rugby World catches up with Marland Yarde to find out how the England wing is finding life at his new club Harlequins RW: At Gloucester new signings often have to shave their heads…MY: If that happened I think I’d have to put an objection in or ask for a transfer!RW: Can Quins make the Aviva Premiership play-offs this season?MY: History shows that we’re a top-four team and that’s what’s targeted every year. We want to be better than we have been before.There’s a fantastic group of players here – a lot of experienced internationals as well as a core group of young players. One thing I’ve noticed is the number of young players who’ve played for England age groups and have had exposure in the Premiership. They’re thriving and want to get better, which can only be good for the team and the long-term future.The style of play we have, combined with that attitude of wanting to be better than ever before through hard work and dedication, means we’ll be there or thereabouts.Running man: Yarde makes a break for England in the third Test against New Zealand in JuneRW: What about playing in the top European event, the European Champions Cup, for the first time?MY: London Irish were only ever in the Amlin Challenge Cup and one of the drivers for me coming to Quins was the opportunity to play at the top level week in, week out. Previously I’ve not been able to do that as much as I’d like.RW: From an individual perspective what are your goals this seasons? Are you thinking about the World Cup? Room with a view: Marland Yarde in Quins’ new away kit at the top of the Shard Credit: PPAUK center_img HAVING EMERGED from England’s three-Test tour of New Zealand in credit, Marland Yarde looks to have the rugby world at his feet – but this week he settled for the streets of London. The 22-year-old winger, who this summer moved from London Irish to Harlequins, ventured to the top of the tallest building in London, the Shard, for the launch of his new club’s 2014-15 kit. Here’s what happened when Rugby World caught up with him…Rugby World: How are you settling in at Quins?Marland Yarde: The first session was last Monday. It’s been pretty good, a bit of a change. I’m getting to know new styles and people, but the guys have been very welcoming from the first minute and it’s a confident environment to be in.It’s been hard work as well – no pre-season is easy! The season kicks off in a few weeks and that’s when we’ll feel the benefit from it – I’m really excited for the season.RW: Has it helped knowing players from the England squad?MY: It’s been easy to get in and get involved. I’ve embraced the culture and certainly feel part of the team.Fresh start: Yarde has swapped one London club for another, moving from Irish to QuinsRW: How is it different to London Irish?MY: London Irish are fantastic and I’ll always be grateful and thankful for the opportunities they gave me while I was there. This is a new club, a different environment, a different way of thinking, which is a fresh challenge for me. It’s exciting and I’m enjoying it – now I’m looking forward to getting the season underway.RW: What’s pre-season been like?MY: A lot of weights, a lot of running and a lot of cardiovascular fitness, so we get into the best possible shape for games. We all know how tough rugby can be sometimes and we’re putting the hard work in now for the season.RW: Have you had to do any initiations?MY: I think they’re keeping that back for a more appropriate time. Everyone’s keeping their head down and working hard to get themselves ready to play games. The focus is there and the attitude is right. MY: It’s 13 months away so you can’t think too far ahead. I’m at a new club, I want to get a place in the team through working hard and kick the season off with a bang. Last season I got a good start but then got injured midway through, so I want to do as well as I can for Quins and achieve goals we want to achieve, to be challenging for Premiership and European trophies at the end.Don’t miss the in-depth interview with Marland Yarde in the August issue of Rugby World – find out how to download it here.last_img read more

663 vote-by-mail ballots received for Apopka elections

first_img Decision Apopka 2018Is the pace of returned ballots trending towards a low turnout?Election day in Apopka may be March 13th, but hundreds of ballots have already been received in the race for mayor, and two city commission seats. On February 6th, vote-by-mail ballots were sent to Apopka voters who requested them from the Orange County Supervisor of Elections (OCSE) office, and after 10 days, 663 have been returned.That may seem like a lot, but it’s approximately half of the ballots returned in the 2014 mayoral election that pitted (then) Commissioner Joe Kilsheimer against Mayor John Land. According to a source who tracked mail-in-ballots daily in 2014, there were 1,274 received after 10 days, which means that only 52% of the ballots received in the 2014 election have been received in 2018.According to the OCSE, 330 (49.77%) of the ballots received are from registered Republicans, while 229 (34.54%) are from Democrats, and 104 (15.69%) are listed as “other” or no affiliation.In the 2014 Apopka Mayoral general election, 47.8% (2,372) of the electorate voted by mail, while 52.2% (2,589) voted the day of the election, and Republicans outdistanced Democrats at the polls 49.64%-33.17%, with “other” and no affiliation making up 17.17% of the electorate.There is still time to request a vote-by-mail ballot:HOW TO REQUEST A VOTE-BY-MAIL BALLOTTo verify if you already have a request on file or check the status of your vote by mail ballot please click here.A request for a vote-by-mail ballot to be delivered via mail must be received no later than 5 p.m. the 6th day (Wednesday) prior to an election.NOTE: Be sure to provide your current address.  BALLOTS ARE NOT FORWARDABLE and you must vote according to where you live.Online: You may request a vote-by-mail ballot online.To have a ballot mailed to a temporary address you may not use the online form.  Please download form to submit by mail or fax or as an email attachment with the voter’s signature. UF/IFAS in Apopka will temporarily house District staff; saves almost $400,000 Please enter your comment! TAGSDecision Apopka 2018 Previous articleWhy it can make sense to believe in the kindness of strangersNext articleCookies and Milk with a Cop this morning Denise Connell RELATED ARTICLESMORE FROM AUTHOR Gov. DeSantis says new moment-of-silence law in public schools protects religious freedom Florida gas prices jump 12 cents; most expensive since 2014 LEAVE A REPLY Cancel replycenter_img You have entered an incorrect email address! Please enter your email address here Share on Facebook Tweet on Twitter Please enter your name here By Phone: (407) 836-2070 or 407-836-8683By Mail/Fax: You can download the request form in PDF format and mail it into our office. Request form English or SpanishMilitary and Overseas Voters: may request the ballot online or, download, complete, sign and return the FPCA found at signed written request is required when requesting a ballot to be mailed to an address that is different from the address on the registration record. You must include: your name, date of birth, current Orange County residential address, mailing address and the voter’s signature. Save my name, email, and website in this browser for the next time I comment.last_img read more

House 47 / Reimers Risso Arquitectura

first_imgArchDaily “COPY” CopyAbout this officeReimers Risso ArquitecturaOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesLa PlataOn FacebookArgentinaPublished on September 11, 2020Cite: “House 47 / Reimers Risso Arquitectura” [Casa 47 / Reimers Risso Arquitectura] 11 Sep 2020. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogAluminium CompositesTechnowoodHow to Design a Façade with AluProfile Vertical ProfilesGlassMitrexSolar GreenhouseMetal PanelsAurubisOxidized Copper: Nordic BrownDoorsEGGERWood Laminate Doors in Molecular Plant Science InstituteStonesCosentinoSurfaces – Silestone® Nebula SeriesWall / Ceiling LightsLouis PoulsenLamp – LP RiplsWood Boards / HPL PanelsBruagRoom Dividers – Partition Wall MDFStonesNeolithSintered Stone – Mar del PlataWindowspanoramah!®ah! SecurityPanels / Prefabricated AssembliesULMA Architectural SolutionsMIS Facade PanelCarpetsFabromont AGTextile Floor Covering – Orbital® 07 COLORpunkt®LightsNorka lightingLuminaire – BelfastMore products »Save想阅读文章的中文版本吗?阿根廷47号混凝土框架住宅 / Reimers Risso Arquitectura是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Architects: Reimers Risso Arquitectura Area Area of this architecture project Projects Lead Architects: María Elena Risso Design Team:María Elena Risso, Luciana Fernandez ReimersCity:La PlataCountry:ArgentinaMore SpecsLess SpecsSave this picture!© Fernando SchapochnikRecommended ProductsBlinds / Mosquito Nets / CurtainsBANDALUXConcealed Blind System – One-BoxWoodHESS TIMBERTimber – GLT HybridMetallicsKriskadecorMetal Fabric – Outdoor CladdingWindowsJansenWindows – Janisol PrimoText description provided by the architects. The house is located in the town center. Our strategy consists of taking advantage of the available area to the fullest, designing spaces that can be adapted to the constant shifts in use that these types of program require.Save this picture!© Fernando SchapochnikIt unfoldes on three levels a ground floor for the hall and garages, a mid-level floor with a green area, a first floor for public areas, a second floor for bedrooms, and a green roof terrace. Save this picture!SketchSave this picture!© Fernando SchapochnikThe logics of the structure is one simple concrete grid that shows a clear spatial  sequentiality. The stair works as a connector and oblique structural plane. The façades are designed idependently of the structure and associated with qualities and needs from the inside space, increasing the relation between house and environment. Save this picture!© Fernando SchapochnikSave this picture!Ground Floor PlanSave this picture!© Fernando SchapochnikThe project combines a simple flexible plan with closing systems that sift and regulate to what extent the inside connects to the outside by means of continuous urban landscape visuals. The closing systems combine materials freely, evoking popular traditions.  By exposing their texture and color, they express diverse modullations.Save this picture!© Fernando SchapochnikSave this picture!© Fernando SchapochnikThe project enhances annonymous local architecture and blends in a mix of fragments  that make up the language of the building. Save this picture!© Fernando SchapochnikProject gallerySee allShow lessThree Stories North / Splinter SocietySelected ProjectsAvenida Novas Loft / João Tiago Aguiar ArquitectosSelected Projects Share Area:  200 m² Year Completion year of this architecture project House 47 / Reimers Risso Arquitectura ShareFacebookTwitterPinterestWhatsappMailOr Clipboard “COPY”center_img 2016 ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Photographs Photographs:  Fernando Schapochnik CopyHouses•La Plata, Argentina Year:  Save this picture!© Fernando Schapochnik+ 21Curated by Clara Ott Share Argentina House 47 / Reimers Risso ArquitecturaSave this projectSaveHouse 47 / Reimers Risso Arquitectura Houseslast_img read more

Distribution of Calame and Essahifa reauthorised

first_img October 24, 2003 – Updated on January 20, 2016 Distribution of Calame and Essahifa reauthorised Help by sharing this information MauritaniaAfrica RSF backs joint op-ed by 120 West African media and journalists calling for Beninese journalist’s release Mauritanian reporter held for two days over Facebook post The interior, posts and telecommunications ministry on 22 Octoberreauthorised distribution of the weekly Calame and the Arabic-languagepaper Essahifa after a three-day suspension for giving publicity topresidential candidate Ahmed Ould Daddah, according to the ministry’sdirector of public liberties and political affairs. Several dozenjournalists staged a protest sit-in in front of the interior ministry inNouakchott on 21 October, due to these suspensions.________________________________________________________20.10.2003Weekly newspaper suspended without explanationReporters Without Borders (Reporters Sans Frontières) hascalled for the immediate lifting of a suspension on thenewspaper Calame under article 11 of the Press Law thatpermits censorship without explanation.The weekly was suspended on 19 October by the ministry ofthe interior, posts and telecommunications that regulates thepress.The ministry used article 11 of the 1991 law that gives itthe right by decree « to ban the circulation, distribution or saleofnewspapers (…) that undermine the principles of Islam or thecredibility of the state, harm the general interest or disturbpublic order and security. »This article, that allows censorship without explanation,should be repealed, the press freedom organisation added.A member of Calame’s editorial staff, quoted by the Pananews agency, said the suspension was believed to be linked toan article headlined, « The big silence at the centre of thedebate ».In the same issue a former Calame journalist, now living inexile in France. analysed the political situation on the eve ofpresidential elections in an article that openly advocated theurgent need for a real democratic alternative to the politicalmonopoly of President Taya.The authorities frequently resort to use of article 11, whichis a real threat to press freedom in Mauritania. On 23September the authorities seized copies of the Arabic-languagenewspaper Essahifa and on 29 July distribution was banned ofthe independent newspaper Le Rénovateur, both under article11. to go further News News News Follow the news on Mauritaniacenter_img RSF_en MauritaniaAfrica May 20, 2021 Find out more News Journalists face archaic sanction of capital punishment in some parts of the world July 6, 2020 Find out more Receive email alerts Organisation March 13, 2020 Find out morelast_img read more

Star Wars Costuming Clubs Take Hillsides by ‘The Force’

first_img“The Force” was strong on a recent Saturday at Hillsides main campus in Pasadena when more than 40 members of Star Wars costuming clubs gathered together to entertain the children of Hillsides. The children experienced some galactic fun when for three hours the campus was filled with the likes of Jedi Knights, Stormtroopers, Sith Lords, Rebel pilots, Bounty Hunters, Jedi Knights, and a perennial crowd favorite, R2-D2.Several local Star Wars costume clubs participated in the event, including those from The Dark Empire, the 501st Legion, the Rebel Legion, the Rogue Rebels, Mandalorian Mercs, and the Jedi Assembly. The costumers wowed with children with a character parade and a light saber skit. Each child also received a specially designed Star Wars patch, a Star Wars activity book, and a Star Wars toy“This is the fourth year that the costuming fan clubs have visited Hillsides, and it is one of the children’s favorite activities of the year,” said Laura Kelso, Hillsides director of community resources. “We are so grateful for everyone who attended from ‘a galaxy far, far away,’ and look forward to seeing them again next year.”Hillsides, headquartered in Pasadena, is a premier provider dedicated to improving the overall well-being and functioning of children, youth, and families throughout Los Angeles County. For more information on Hillsides, please visit faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Make a comment Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Subscribe Community News Star Wars Costuming Clubs Take Hillsides by ‘The Force’ From STAFF REPORTS Published on Thursday, August 28, 2014 | 11:52 am Community News Business News Name (required)  Mail (required) (not be published)  Website  Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Your email address will not be published. Required fields are marked *center_img Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Community News First Heatwave Expected Next Week EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS HerbeautyA 74 Year Old Fitness Enthusiast Defies All Concept Of AgeHerbeautyHerbeautyHerbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeauty10 Questions To Start Conversation Way Better Than ‘How U Doing?’HerbeautyHerbeautyHerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeautyDo You Feel Like Hollywood Celebrities All Look A Bit Similar?HerbeautyHerbeautyHerbeautyGained Back All The Weight You Lost?HerbeautyHerbeauty More Cool Stuff Top of the News 19 recommended0 commentsShareShareTweetSharePin it last_img read more

Non-QM Mortgage Bond Market Misconceptions

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Previous: How Europe’s Example Could Help Address America’s Housing Crisis Next: Hazards Ahead for the National Flood Insurance Program 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. Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Non-QM Mortgage Bond Market Misconceptions About Author: Seth Welborn Home / Daily Dose / Non-QM Mortgage Bond Market Misconceptions Non-QM bond issuances have been on the rise, Bloomberg reports. But even amidst this positive move, some skeptics worry about non-QM’s performance along the road ahead. With misconceptions and negative pre-recession associations lingering, how is non-QM paving the way for responsible lending to borrowers who don’t fit within the QM bucket, without the pitfalls of subprime?According to Barclays, this surge comes as initial indications of delinquency rates on the loans are starting to emerge, about 3% to 5% in some bonds. However, Bloomberg states that the non-QM bond market is too small for now to cause the kind of broader disruptions that subprime bonds did before the recession. The bonds themselves also have more safeguards for investors than they used to. According to a Fitch Ratings analysis, an average of 36% of principal would have to be lost before the top-rated slice took a hit. The cushion in crisis-era “alt-A” bonds with the same rating was just 6%.Speaking with MReport, Denis G. Kelly, SVP of Sprout Mortgage, recently noted that non-QM loans are a different breed.”Non-QM loan performance is very strong right now,” Kelly said. “That’s the number one. Are you making responsible loans? The misconception may be that they equate it to what was happening in 2006, 2007, 2008—those were a very different type of loan.”Aaron Samples, CEO of First Guaranty Mortgage, echoed this sentiment, noting the misconceptions surrounding non-QM loans as “sub-prime.”“The biggest challenges lenders face today are around the stigma of the product being misunderstood as a sub-prime product,” Samples told MReport.According to the American Enterprise Institute, the non-QM market is the fastest-growing segment of non-agency residential mortgage-backed securities in the U.S., despite still being a relatively small slice of the pie. The non-QM market is on track to double, or even triple, last year’s securitization issuance within this year.S&P found that there have been 20 odd transactions year-to-date, totaling over $6 billion in issuance, which is already almost double 2017’s full-year volume. S&P also notes that, when compared to other RMBS categories, non-QMs have prepaid quicker, often soon after loan origination. The report found a conditional prepayment rate (CPR) 35%.“It’s not the subprime we remember from 2006 to 2007,” said Mario Rivera, Managing Director of the Fortress Credit Funds business, which has bought non-QM bonds. “It’s more of a second or third inning of non-QM. We’re getting the best collateral before the more aggressive lending comes in.” November 5, 2019 3,099 Views Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2019-11-05 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Secondary Market Subscribelast_img read more