Monday, September 17, 2012

Bedford Corners Realtor | GSEs ease mortgage buyback rules on ...

Fannie Mae and Freddie Mac eased some guidelines for lenders refinancing mortgages, including new relief from buying back the loan, according to an alert sent to lenders.

Beginning immediately, Fannie will waive future repurchase claims on the new loan if an appraisal on the property is done. Previously, if a lender obtained an appraisal, it was still responsible for representations and warranties for the property?s value on the new loan.

Freddie relieved lenders of buyback risk tied to ?creditworthiness, any other underwriting requirements, value, condition and marketability of the (the property) and certain fraud requirements? for refinance applications received beginning Nov. 19, according to its notice.

Repurchase risk still remains for new servicers refinancing a mortgage financed by either Fannie or Freddie.

Before the changes announced Friday, the GSEs required retail lenders to verify that at least one of the borrowers on the loan had a source of income if the monthly mortgage payment changed by 20% or less after the refinance. It waived this requirement Friday and will allow retail lenders to verify the borrower has enough reserves to cover 12 months of the new mortgage payment before approving the new loan.

The reserves can include checking and savings accounts, stocks, bonds, mutual funds and even amounts vested in retirement accounts, according to the changes.

The GSEs also reduced how much documentation lenders will need to get the refinance approved. Lenders won?t be required to verify a borrower?s past or current income. Fannie and Freddie also waived requirements to look into large deposits on borrower statements.

The changes were made to expand even further the reach of refinancing and to assist borrowers who owe more on their mortgage than their home is worth. The Federal Housing Finance Agency altered the Home Affordable Refinance Program to remove some repurchase liability on the old loan for the original servicer.

Other barriers to HARP including some appraisal requirements and upfront fees and a loan-to-value ceiling were also removed.

More than 519,000 underwater borrowers refinanced under HARP through July, more than the roughly 400,000 in all of 2011.

Democrats in the Senate reintroduced legislation last week to expand HARP to waive repurchase risk for all lenders, not just the original one. But the bill will not likely pass before the election in November, if at all.

Still, the GSEs expect the new rules will allow ?lenders more efficiently reach an even broader base of eligible borrowers,? according to the alert put out by Fannie.

Source: http://www.robertpaulsells.com/blog/bedford-corners-realtor-gses-ease-mortgage-buyback-rules-on-harp/

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Saturday, September 15, 2012

Romney on debates: Obama will 'say things that aren't true'

Romney: Obama in Debates Will 'Say Things That Aren't True'Part two of George Stephanopoulos' exclusive interview.

With the first Presidential debate less than three weeks away, Mitt Romney is spending lots of time getting ready behind closed doors. In his first comments on that debate prep, he told me that Sen. Rob Portman is a tough stand-in for a President who basically lies in debates.

"I think the challenge that I'll have in the debate is that the president tends to, how shall I say it, to say things that aren't true," Romney said. "I've looked at prior debates. And in that kind of case, it's difficult to say, 'Well, am I going to spend my time correcting things that aren't quite accurate? Or am I going to spend my time talking about the things I want to talk about?"

The former governor told me he's tempted to use Ronald Reagan's famous line against President Carter in a 1980 debate, "There you go again" - the same line that Bill Clinton turned on Romney and the Republicans at the Democratic convention in Charlotte.

When I asked if Portman was crushing him in early debate preps, Romney was coy.

"I'm not revealing those kind of secrets. But I will never debate Rob Portman again," Romney said with a laugh.

"He's very good," he said.

[Senator John McCain expressed a similar sentiment after going against Portman in his 2008 debate prep. McCain later told the New York Times, laughing, "I hate him still."]

The debates are at a critical moment in the campaign with the latest polls showing Obama gaining an edge over Romney in the key battleground states.

Romney told me the debates "may well be" the campaign's make or break moment.

"Sometimes there's something big that happens and they become deciding. Other times, it's like, well, nothing really changed. We're in the same spot we were before the debates. I can't predict what'll happen. But I think it'll be revealing one way or the other," he said.

Romney said he wasn't concerned about new polls showing him trailing in Virginia and Ohio - even though it's virtually impossible for him to get the 270 electoral votes he needs without victories in those two states.

"Well, I'm ahead in a lot of other states, too. I saw one this morning, ahead in Florida, ahead in North Carolina. Gosh, we're even tied in Wisconsin," Romney told me. "These polls are going to bounce around a lot. I don't pay a lot of attention day to day to which state's up and which one's down. But I believe that when the final decisions are being made by the American people, they're going to ask themselves, "Who do I have confidence in to keep America safe? And who do I believe can get our economy doing what it needs to do?"

Romney said the most important numbers in this election are 23, 47 and 16.

"23 million Americans out of work or underemployed. 47 million people on food stamps. $16 trillion in debt. And now the Federal Reserve, it says, " Look, this economy is not going well," he said.

And it's because of those economic conditions some Republican allies are worried. George Will on "This Week" said "If the Republican Party cannot win in this environment, it has to get out of politics and find another business." Laura Ingraham said "If you can't beat Barack Obama with this record, then shut down the party, shut it down."

"Well you know, beating an incumbent is never easy. The president exudes an air of likability and friendliness, which is endearing," Romney told me. "But at the same time, I think people recognize that he has not done the job they expected him to do and that he promised he would do."

The race will be decided by "the people in the middle" who "won't make their mind up until the very, very last moment," the former governor said.

And many of those people - 63% of registered voters - want more details about what a Romney presidency would look like, according to our latest ABC News/ Washington Post poll.

The former governor cited his 59 point - and more than 150 pages - economic plan that he released, but acknowledged that "people aren't going to sit down and read a book."

"So that means that in the speeches I give over the coming weeks I need to lay out some of the principles that were described in that book. And I will in more detail," he said.

Democrats say Romney's plan would cause a $2000 tax hike on the middle class - something Romney disputes and points to a number of studies that say his plan to cut taxes will not increase the deficit, including one by Harvard professor Martin Feldstein.

Feldstein says Romney's math will work, but he would have to eliminate the home mortgage, charitable, state and local tax deductions for incomes greater than $100,000.

When I pressed Romney on that point, he conceded that he actually hadn't read the Feldstein report that he and Paul Ryan cite on the campaign trail.

"I haven't seen his precise study," he said.

"I said that there are five different studies that point out that we can get to a balanced budget without raising taxes on middle income people. Let me tell you, George, the fundamentals of my tax policy are these. Number one, reduce tax burdens on middle-income people. So no one can say my plan is going to raise taxes on middle-income people, because principle number one is keep the burden down on middle-income taxpayers," he said.

Romney defined middle income as $200,000 to $250,000 a year.

"Number two, don't reduce the share of taxes paid by the wealthiest. The top 5% will still pay the same share of taxes they pay today. That's principle one, principle two. Principle three is create incentives for growth, make it easier for businesses to start and to add jobs. And finally, simplify the code, make it easier for people to pay their taxes than the way they have to now," he said.

When I asked if he and his running mate, Rep. Paul Ryan, would specify which loopholes they would close in order to pay for the tax cuts, Romney said he's relying on his experience as Massachusetts governor.

"I've found that you have to work with the people across the aisle. My legislature was 87% Democrat. So if I'd have come out and said, "Here this is my bill. This is the way I want it," you'd never get it done," he said. "You lay out your principles. Those are my principles, don't raise taxes on middle-income people, make sure the high-income people pay the same share they're paying today, encourage growth by bringing down rates, and finally simplify the code. Those are my principles. I'll stick with them. And I believe that's going to help get the economy going and grow jobs."

I also asked the presidential candidate about a recent poll number that showed registered voters by a 19% margin would prefer to have dinner with Obama instead of Romney.

So what's dinner like at the Romney house? "Chaotic," he said.

"You'd have grandkids climbing all over you. Probably some food would be thrown from one side of the table to the other by one of my grandkids. It'd be a lot of fun," he said.

"So I can't tell people who would have more fun at whose table. But I can tell you the president's a person that a lot of people like. I don't dislike him myself and wish him the very best. But I think the American people are looking for someone who has the capacity to help them get good jobs and more take-home pay. And I do," Romney told me.

Also Read

Source: http://news.yahoo.com/exclusive-romney-debates-obama-things-arent-true-105805916--abc-news-politics.html

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Wednesday, September 12, 2012

Obama campaign fact-checks, fires back at "2016"

LOS ANGELES (TheWrap.com) - Barack Obama's campaign has hit back at Dinesh D'Souza and his filmmaking team for their cutting characterization of the incumbent president in "2016: Obama's America."

On September 5, as the anti-Obama documentary continued its winning streak at the box office and the Democratic National Convention hit a crescendo with a rousing appearance by former President Bill Clinton, a pointed blog entry about "2016" was posted on BarackObama.com.

Calling D'Souza, a longtime fixture on the right-wing speakers' circuit, "a self-proclaimed expert on the President," the blog post on the campaign site's "Truth Team" page fires this opening salvo: "Right-wing author Dinesh D'Souza has recently released ?2016: Obama's America,' a movie that falsely smears President Obama as having a hidden agenda bent on realizing ?anti-colonial' ambitions."

The article calls into question D'Souza's use of his own work as a basis for building his argument about what moviegoing citizens "don't know" about the president - much of which stems from Obama's relationship with, and purported feelings about, his distant father.

Obama's "Truth Team" points to D'Souza's use of his own life story in the first part of the film, slamming the documentary's creator for "baselessly claiming his supposedly similar background gives him a special insight into the President's thinking."

The campaign site's impromptu review also offers counterpoints to specific claims the documentary makes about the president's politics. On the subject of the source of the controversial TARP bank bailout program, for example, the entry states: "D'Souza even claimed that President Obama passed the bank bailouts when the facts clearly show that it was President Bush who signed the Troubled Asset Relief Program into law in October 2008."

As if there was any room for doubt, the blog gives "2016" a clear thumbs down, concluding that the documentary is "nothing more than an insidious attempt to dishonestly smear the President by giving intellectual cover to the worst in subterranean conspiracy theories and false, partisan attacks."

"2016" has been analyzed and appraised by a number of sources, and D'Souza himself has engaged with critics like Bill Maher and the Associated Press' Beth Foulhy, whose article "Fact Check: Anti-Colonial Obama Not Plausible" spurred D'Souza to respond and call for an apology in an op-ed piece he wrote for TheWrap on September 3.

"Evidently this fact-checking article required its own fact-checker," D'Souza said.

Regardless of the White House's position on the documentary, "2016: Obama's America" has been a surprise hit amid a late-summer lull in theaters, pulling in more than $26 million to date at the box office. And though the film's momentum has slowed since its peak just before the Republican National Convention in late August, it's now the second most successful political documentary of all time.

Source: http://news.yahoo.com/obama-campaign-fact-checks-fires-back-2016-231134066.html

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Wednesday, September 5, 2012

Hurricane Kirk Gets Star Trek Treatment [VIDEO]

If America, and American workers, had an official alcoholic beverage, it would probably be beer. According to the Brewers Association, the overall U.S. beer market was worth $96 billion in 2011, when some 200 million barrels of beer were sold (1 barrel equals 31 gallons of beer). In the same year, 1,989 breweries in the United States were fermenting everything from light lagers to chocolaty stouts.

Source: http://news.yahoo.com/hurricane-kirk-gets-star-trek-treatment-video-031826234.html

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Thursday, August 30, 2012

Doctors raise prostate cancer awareness | KFOR.com ? Oklahoma ...

Posted on: 4:58 pm, August 28, 2012, by KFOR-TV, updated on: 11:33am, August 28, 2012


Next week begins Prostate Cancer Awareness month and doctors want you to be well-informed about the disease and how it can be treated.

Here to discuss prostate cancer treatment options is Dr. Sameer Keole, medical director of ProCure Proton Therapy Center in Oklahoma City.

Dr. Keole talks about the risk factors in prostate cancer and the different treatment options.?

ProCure and INTEGRIS is going to be hosting prostate clinics:

  • ?INTEGRIS Cancer Institute of Oklahoma
  • ?Making sense of prostate cancer treatments?
  • Tuesday, Sept. 11
  • 5:30-6:30 p.m.
  • Tours of INTEGRIS Cancer Institute of Oklahoma and ProCure Proton Therapy Center following the presentation

For more information on proton therapy and the Oklahoma center, visit www.procure.com/ok.

Source: http://kfor.com/2012/08/28/doctors-raise-prostate-cancer-awareness/

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Monday, August 27, 2012

Tropical Storm Isaac drenches Haiti, aims for Cuba

PORT-AU-PRINCE (Reuters) - Tropical Storm Isaac emerged over warm Caribbean waters on Saturday slightly weaker but ready to regroup after dumping torrential rains on Haiti, where thousands of people remain homeless more than two years after a devastating earthquake.

Heavy rains and high winds lashed Haiti's southern coast, flooding parts of the capital Port-au-Prince, and flattening tents in some of the fragile resettlement camps that house more than 350,000 survivors of the 2010 earthquake.

A 10-year-old girl was killed in Port-au-Prince when a wall fell on her, the Civil Protection authority said. Power outages and flooding were reported as Isaac moved across the hilly and severely deforested Caribbean country.

"There's a lot of rain, a lot of wind," said Magdala Jean-Baptiste, who huddled with her frightened children in their home in the southern coastal city of Jacmel. "We haven't had any power since the storm started yesterday. We passed the night with no sleep."

Isaac was forecast to sweep over eastern Cuba on Saturday and strengthen into a hurricane as it approaches the Florida Keys. It was on track for the Gulf of Mexico, where major energy companies have begun offshore evacuations that could end up shutting nearly half the area's oil output.

The center of Isaac was about 95 miles east-southeast of Guantanamo Bay, Cuba, on Saturday morning, the U.S. National Hurricane Center said.

A hurricane warning was in effect for the Florida Keys and the southwest coast of Florida.

Isaac's march across the Caribbean comes as U.S. Republicans prepare to gather in Tampa, on Florida's central Gulf Coast, for Monday's start of their national convention ahead of the November presidential election. The convention is expected to proceed as planned.

In the Dominican Republic, Isaac felled power and phone lines and left at least a dozen towns cut off by flood waters. The most severe damage was reported along the south coast, including the capital Santo Domingo, where more than half the city was without power.

In Haiti, the United Nations mission there said it was prepared to distribute food and emergency supplies for more than 300,000 people, and 5,700 U.N. troops stood ready to clear roads for emergency response teams.

The government and aid groups tried to evacuate thousands of tent camp dwellers on Friday but many Haitians chose to remain in their flimsy, makeshift homes, apparently fearing they would be robbed, said Bradley Mellicker, head of disaster management for the International Organization for Migration (IOM).

REFUGE FROM THE STORM

Volunteers from the government's Civil Protection office were sent across Haiti, warning people about flood and landslide risks. About 1,250 shelters opened in schools, churches and other buildings but Red Cross officials said the number could be grossly inadequate. Prime Minister Laurent Lamothe acknowledged Haiti had "limited means" to ensure public safety.

Red Cross and IOM representatives joined government officials in trying to evacuate 8,000 of the "most vulnerable people," including 2,500 sick and disabled, from 18 tent camps in low-lying coastal areas of Port-au-Prince.

Many Haitians, most of whom scrape by on less than $1 per day, consider disaster an inevitable part of life in the poorest country in the Americas.

"We live under tents. If there's too much rain and wind, water comes in. There's nothing we can do," said Nicholas Absolouis, an unemployed 34-year-old mechanic at one camp for homeless people on the northern edge of the chaotic capital.

Flooding could also help reignite a cholera epidemic, which has killed more than 7,500 people in Haiti since the disease first appeared in October 2010, foreign aid workers said.

After crossing Cuba and the Florida Keys, Isaac was forecast to move north to northwest through the Gulf of Mexico and make landfall anywhere on the U.S. coast from the Florida Panhandle to New Orleans at midweek.

Emergency managers urged tourists to leave the Keys if they could do so safely on Saturday. A single road links the chain of low-lying islands to the Florida Peninsula.

Officials said Key West International Airport will stop commercial air traffic on Saturday evening and all day Sunday.

Isaac has drawn especially close scrutiny because of the Republican Party's convention, a four-day meeting during which former Massachusetts Governor Mitt Romney will receive the party's presidential nomination.

Party officials insist the convention will go ahead, even if they have to alter the schedule. But NHC meteorologist Rick Danielson said late on Friday that Tampa could be hit by coastal flooding and driving winds or rain.

"There is still a full range of possible impacts on Tampa at this point," he said.

(Writing by Jane Ssutton and Kevin Gray; Additional reporting by David Adams in Miami and Kristen Hays in Houston; Editing by Kieran Murray and Vicki Allen)

Source: http://news.yahoo.com/isaac-bears-down-haiti-south-florida-under-storm-011629692.html

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Wednesday, August 8, 2012

Airborne technology helps manage elephants

ScienceDaily (Aug. 6, 2012) ? For years, scientists have debated how big a role elephants play in toppling trees in South African savannas. Tree loss is a natural process, but it is increasing in some regions, with cascading effects on the habitat for many other species. Using high resolution 3-D mapping, Carnegie scientists have for the first time quantitatively determined tree losses across savannas of Kruger National Park. They found that elephants are the primary agents -- their browsing habits knock trees over at a rate averaging 6 times higher than in areas inaccessible to them.

The research also found that elephants prefer toppling trees in the 16-to-30 foot (5-8 m) range, with annual losses of up to 20% in these height classes. The findings, published in Ecology Letters, bolster our understanding of elephant conservation needs and their impacts, and the results could help to improve savanna management practices.

"Previous field studies gave us important clues that elephants are a key driver of tree losses, but our airborne 3-D mapping approach was the only way to fully understand the impacts of elephants across a wide range of environmental conditions found in savannas," commented lead author Greg Asner of Carnegie's Department of Global Ecology. "Our maps show that elephants clearly toppled medium-sized trees, creating an "elephant trap" for the vegetation. These elephant-driven tree losses have a ripple effect across the ecosystem, including how much carbon is sequestered from the atmosphere."

The technology used for monitoring trees is Light Detection and Ranging (LiDAR), mounted on the fixed-wing Carnegie Airborne Observatory (CAO). It provides detailed 3-D images of the vegetation canopy at tree-level resolution using laser pulses that sweep across the African savanna. The CAO's lasers can detect even small changes in each tree's height, and its vast coverage is far superior to previous field-based and aerial photographic evaluations. The scientists considered an array of environmental variables spread over four study landscapes within Kruger and in very large areas fenced off to prevent herbivore entry. For years, four of these exclosures have kept out all herbivores larger than a rabbit. Two other partial enclosures have permitted entry of herbivores other than elephants.

The scientists identified and monitored 58,000 individual trees from the air, inside and outside of these exclosures and across the landscape in 2008 and again in 2010. They found that nearly 9% of the trees decreased in height in two years, and that the mapped changes in treefall were linked to different climate and terrain conditions. Most tree losses occurred in lowland areas with more moisture and on soils high in nutrients that harbor trees preferred by elephants for browsing. Critically, the partial exclosures definitively identified elephants, as opposed to other herbivores and fire, as the major agent of tree losses over the two-year period.

"These spatially explicit patterns of treefall highlight the challenges faced by conservation area managers in Africa, who must know where and how their decisions impact ecosystem health and biodiversity. They should rely on rigorous science to evaluate alternative scenarios and management options, and the CAO helps provide the necessary quantification," commented co-author Shaun Levick.

Danie Pienaar, head of scientific services of the South African National Parks remarked, "This collaboration between external scientists and conservation managers has led to exciting and ground-breaking new insights to long-standing questions and challenges. Knowing where increasing elephant impacts occur in sensitive landscapes allows park managers to take appropriate and focused action. These questions have been difficult to assess with conventional ground-based field approaches over large scales such as those in Kruger National Park."

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Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/~3/EYOLJnuU3sI/120806130859.htm

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