Obama touts mortgage finance plan, highlights private sector role
Pricing on the amended facility is reduced by 50 basis points to LIBOR plus 2.25% per annum with no LIBOR floor.The maturity of the facility is extended to five years with a four-year revolving period and a final maturity one year later.The amended facility also includes more flexible terms regarding eligible collateral. “Our amended facility includes a diverse group of lenders, and provides greater capacity and a more flexible structure that better enables Fifth Street Finance Corp. to expand its product offerings and grow its portfolio,” commented Fifth Street’s President, Bernard D. Berman.
Kuwait’s appeals court has overturned a three-year jail term on three former opposition MPs and acquitted them from the charge of insulting the emir, a rights activist said.AFP/File In this file picture dated February 8, 2009, Sheikh Salem Abdulaziz Al-Sabah addresses a press conference in Kuwait City. The former central bank governor has been appointed finance minister in a new cabinet line-up that was announced on August 4, 2013.AFP/File A file photo taken on May 24, 2012, shows Mustafa al-Shamali attending a parliament session in Kuwait City. Shamali has been appointed oil minister in a new Kuwaiti cabinet line-up that was announced on August 4, 2013.AFP/File Next Slide Previous Slide KUWAIT CITY (AFP) Kuwait’s emir, Sheikh Sabah al-Ahmad Al-Sabah, named a cabinet on Sunday that, includes new oil, finance and defence ministers and seven members of the ruling Al-Sabah family. The appointment of the new 16-member line-up came after the Gulf state’s second parliamentary polls in eight months were again boycotted by the opposition.
The administration wants to replace Fannie Mae and Freddie Mac with a system in which the private market buys home loans from lenders and repackages them as securities for investors. The government would still play a role in housing markets by insuring or guaranteeing those securities – at a cost to investors. “Private capital should take a bigger role in the mortgage market. I know that sounds confusing to folks who call me a socialist,” Obama said, inserting a dig at political opponents who paint him as a left-leaning liberal.
Siena Lending Group Closes Credit Facility With Wells Fargo Capital Finance
“Securing this attractive credit financing speaks of the strength of Siena’s platform and growth opportunities.” Siena’s hybrid business model targets a widening gap between community banks and commercial business lending. In addition to providing direct financing to businesses, Siena offers turn-key origination and servicing capabilities for participating community banks that are seeking exposure in the asset-based lending market. Siena provides community bank partners the ability to acquire high quality, variable rate, low risk, economically attractive loans without direct cost or increased SG&A. The intensive loan monitoring required for asset-based loans is managed by Siena’s team at institutional standards, which small banks cannot readily replicate.