Limerick Council housing department meets a wall of criticism

first_imgNewsLocal NewsLimerick Council housing department meets a wall of criticismBy Alan Jacques – March 13, 2015 1187 TAGSCllr Francis FoleyCllr Jerome ScanlanCllr John SheahanCllr Liam GalvinCllr Michael CollinsCllr Seamus BrowneFianna FáilFine GaellimerickLimerick City and County CouncilMunicipal District of Newcastle WestSinn Fein by Alan [email protected] up for the weekly Limerick Post newsletter Sign Up Cllr Liam GalvinLIMERICK City and County Council’s housing department came under heavy fire as councillors expressed their discontent with how it’s been run since the merger of the two local authorities last year.At this month’s Newcastle West municipal district meeting, Fine Gael councillor Liam Galvin said it was “scandalous” that he had to put a motion on the agenda to get works carried out at a council house in Garravane, Mountcollins.“I’m not happy with how the housing department is being run. It’s not working. After exhausting every other avenue, I have had to put this on the agenda to try alleviate problems for a young family with young children,” he explained.Cllr Galvin said the house was damp and cold and had problems with leaks. An estimated €50,000 had originally been spent by the Council on works when it was purchased for social housing stock, but local councillors raised serious questions about the workmanship involved.He warned the council that he would address issues in regards social housing through motions at public meetings if the housing department didn’t up its game.“I’m a little perturbed that this issue had to be brought up at a council meeting and I’m disturbed to hear work had already been carried out in this house. Who signed off on the work?” Fine Gael councillor John Sheahan asked.Sinn Fein councillor Seamus Browne said he was disappointed that Cllr Galvin was forced to take such drastic measures to get this work completed for a young family.“Our housing stock is deteriorating rapidly and has been for many years. The same standards in the private sector do not seem to apply to the local authority. There are houses out there with no insulation,” he claimed.Fine Gael councillor Jerome Scanlan told the council executive that their tenants were expected to pay local property tax, but didn’t get the same service as that expected by tenants from landlords in the private sector.“Rents in Newcastle West are around €135 a week,” he said.Fianna Fail councillor Francis Foley asked that the Council take inventory of its social housing stock and provide money to upgrade it.“Some of these homes haven’t been upgraded in over 20 years. House are freezing, people have no insulation, yet rents are going up,” he said.Cllr Michael Collins (FF), an auctioneer in Newcastle West, said that no one at the Council was taking responsibility for this problem. When his fellow councillors asked his opinion on the current value of council house in Garravane, Mountcollins, Cllr Collins estimated it to be worth around €30,000.Area engineer Ben Noonan said that contact had been made with the tenants to deal with issues of dampness in their home. Linkedin Mayor welcomes the re-opening of non-essential retail across Limerick Call for ban on use of helium balloons in Limerick Seven Limerick post offices confirmed for closure Print Email Facebookcenter_img Advertisement Previous articleEstuary run to recall Larry’s community spiritNext articleLarge numbers at elevated Rás Luimní Alan Jacqueshttp://www.limerickpost.ie WhatsApp RELATED ARTICLESMORE FROM AUTHOR New role for Cllr John Sheahan Plaque unveiled to West Limerick man honouring his contribution to Sikh Culture and Religion Twitter Limerick Council social housing policy in ‘tatters’last_img read more

FHFA Seeks Input on Front-End Credit Risk Sharing

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Tagged with: Credit Risk Sharing Transactions FHFA Front-End Risk Sharing Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Freddie Mac Starts Selling Reperforming Loans Next: Fed Asks Morgan Stanley to Resubmit Capital Plan Subscribe Credit Risk Sharing Transactions FHFA Front-End Risk Sharing 2016-06-29 Brian Honea About Author: Brian Honea June 29, 2016 1,095 Views The Best Markets For Residential Property Investors 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / FHFA Seeks Input on Front-End Credit Risk Sharing For the last three years, the GSEs have engaged in a number of credit risk sharing transactions in order to transfer more of the risk on the loans it guarantees to private investors.Most of the credit-risk transactions conducted by Fannie Mae and Freddie Mac have been of the back-end variety, meaning the loans where for which the risk is transferred are already on the GSEs’ balance sheets—as opposed to front-end risk sharing, which means the credit risk is transferred to a third party at the time the loan is originated—prior to the GSEs’ acquisition of the underlying mortgage.On Wednesday, the GSEs’ conservator, the Federal Housing Finance Agency (FHFA), issued a Single-Family Credit Risk Transfer Request for Input (RFI) for their ongoing analysis of front-end credit risk transfer transactions. The RFI seeks feedback from stakeholders on proposals to adopt more front-end structures and other credit risk transfer policy issues.Also on Wednesday the Agency published its Credit Risk Transfer Progress Report for June 2016, which provides an overview of how the GSEs share credit risk with the private sector through credit risk transactions and includes an update on the status and volume of credit risk transfers through the end of 2015.The progress report also includes a discussion on different transaction structures, investor participation, and the cost of credit risk transfer transactions to the GSEs, according to the FHFA.“The Credit Risk Transfer Progress Report demonstrates transparency and documents that there has been a great deal of progress in the credit risk transfer market in a short period of time, even though the market is still relatively young,” FHFA Director Melvin L. Watt said.  “The Request for Input demonstrates our commitment to build upon the progress and expand the array of credit risk transfer products.  Feedback from stakeholders is critical as we explore additional ways to enhance these programs and expand the investor base.”The deadline for parties to provide input on the topics identified in the RFI is August 29, 2016. Input can be submitted electronically or via mail to Federal Housing Finance Agency, Office of Financial Analysis and Modeling, 400 7th Street, S.W., 9th floor, Washington, D.C., 20219.Click here to view the FHFA’s Request for Input.Click here to view the FHFA’s Credit Risk Transfer Progress Report for June 2016. FHFA Seeks Input on Front-End Credit Risk Sharing Share Save Demand Propels Home Prices Upward 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. Sign up for DS News Daily in Daily Dose, Featured, News, Secondary Marketlast_img read more