OCC Addresses Liquidity and Forbearance Issues

first_img Servicers Navigate the Post-Pandemic World 2 days ago Blake Paulson, the new Chief National Bank examiner with the Office of the Comptroller of the Currency (OCC) and senior deputy comptroller for midsize and community bank supervision, recently spoke with Law360 on the OCC’s plan beyond the coronavirus, detailing the steps the agency and banks can take to prepare for the next financial downturn.According to Paulson, one of the most significant priorities of the OCC has been strengthening the Community Reinvestment Act regulation.“We’ve done a tremendous amount of work to first put out an advanced notice of proposed rulemaking to request, which was a series of questions on the CRA and then a proposed rule. Now we’ve gotten all those comments back, and we’re working on drafting the final rule. We expect that, working in conjunction with the FDIC [Federal Deposit Insurance Corporation], we will release a final rule this year.”Paulson also notes that with increased forbearances may come increased risks.“We’re seeing a lot of forbearance activity relative to mortgage loans, auto loans, consumer loans and commercial loans,” Paulson notes. “Banks are providing various types of forbearance, such as loan restructurings.”Beyond the technical and legal requirements, Paulson notes, banks need to assess risk as it’s building in their loan portfolios, accurately risk-rate loans and ensure they have appropriate loan-loss reserves. Those are the primary areas where banks and examiners will be focused as we move into challenging economic times.According to Paulson, the OCC is addressing liquidity in a number of ways.“To start with, we want to understand how the bank views this,” Paulson states. “What’s their analysis? What’s their risk assessment in a stress-type scenario? What have they done to think about how much liquidity they should have on hand?”“We would challenge that analysis and likely come to some type of an agreement for what the bank should have for liquidity and, if the bank agrees to that, we might include what we refer to as a matter requiring attention in the reported examination explaining our concerns, including what the bank committed to do about it and a time frame for that commitment,” he continues. About Author: Seth Welborn in Daily Dose, Featured, Government, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Ginnie Mae Issues $63.81B in MBS Next: More Americans Expect to Miss Mortgage Payments The Best Markets For Residential Property Investors 2 days ago  Print This Post Share Save Comptroller Forbearance OCC 2020-05-12 Seth Welborn Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / OCC Addresses Liquidity and Forbearance Issues May 12, 2020 1,906 Views Demand Propels Home Prices Upward 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. Servicers Navigate the Post-Pandemic World 2 days ago OCC Addresses Liquidity and Forbearance Issues Demand Propels Home Prices Upward 2 days ago Tagged with: Comptroller Forbearance OCC Subscribelast_img read more

Student strangled to death by 7-meter-long python in Southeast Sulawesi

first_imgA 16-year-old junior high school student was killed by a 7-meter-long python, which strangled him to death, while hiking in Bombana regency, Southeast Sulawesi, on Sunday.The student, identified as Alfian, was attacked by the snake on the way to a waterfall in Kahar mountain, Rumbia district, with four friends.The python attacked Alfian when he was separated about 10 meters from his friends, said Rumbia Police chief First. Insp. Muh. Nur Sultan. Read also: Teacher captures python with bare hands in West Sulawesi”After they were separated, Alfian’s friends heard him screaming. When they found him, the python had bit one of his thighs and was wrapped around his neck,” Muh Nur told kompas.com on Monday.Muh Nur said two of Alfian’s friends tried to help him by hitting the snake. However, they were instead attacked and bitten by the python.They then decided to seek help from locals, who killed the python with machetes. But by the time they managed to free Alfian from the snake, the student had died.Muh Nur said two of Alfians’ friends who had been bitten had been taken to a local health community center (Puskesmas) and allowed to go home afterwards. (nal)Topics :last_img read more

Grant will help to grow the game in Derbyshire

first_img The Derbyshire Golf Development Group has been awarded an £8600 small grant by Sport England to help spearhead the drive to encourage more people into the sport in the county. The money will be used to raise the profile of the sport in the local community with the aim of encouraging more people to take up the game and, hopefully, go on to become golf club members. A community golf coach will be engaged to take the sport away from the established clubs and out into local parks, schools, organisations and businesses, with the help of a new inflatable and portable net. Nigel Furniss, Development Officer for the Derbyshire Golf Development Group, said: “It is really encouraging to receive this support from Sport England. It will allow us to take golf into the community and work in partnership with clubs and facilities to try and develop the game of golf.” He went on: “Our target now is to introduce 800 people to golf over the next 12 months and hopefully excite them to want to continue in the game and join a club, but more importantly become a lifelong participant in a sport which brings so many health and social benefits.” The Sport England award – coupled with a grant made to the High Peak Regional Golf Development Group earlier in the summer – means that £17,200 will be made available to help grow and develop golf in Derbyshire through these initiatives. 23 Sep 2016 Grant will help to grow the game in Derbyshire last_img read more