Housing finance, beyond Fannie and Freddie

Five appointed to Finance Committee

GBF’s notable growth in guarantees and fixed-rate commercial papers (FRCP) are manageable given the company’s focus on creditworthy conglomerates and its effective capital management. Fitch expects GBF to maintain its capital adequacy ratio (CAR) at above 13% while growing its credit portfolio. TFC’s Viability Rating is rated lower than those of peers as a result of its small franchise and modest profitability, which limits its ability to absorb potential credit or market losses. Rating Sensitivities – VRs The VRs have little upside potential, due to sector-wide structural issues, including limited business scope, reliance on wholesale funding, and susceptibility to sharp interest-rate swings.

A housing tax credit that helps

Morris said free drinks would be served on a limited basis, and alcohol would not be served later than other bars and restaurantsin Tewksbury serve. “We do not plan to serve alcohol other than the times otherbars do in town,” Morris said.”We don’t want to take any business away from them. We will serve some free drinks, but we won’t be serving themto everyone who steps into the casino. It would be done on a limited basis.” Town Manager Richard Montuori added that the alcohol license for the proposed slots-only casino would be issued by the Alcoholic Beverages Control Commission , and thus wouldn’t take away from the quota the town can issue. Montuori also addressed questions on how surrounding communities would be involved in the process as it moves forward.

Finance Committee Hold Public Hearing on Proposed Merrimack Valley Casino

Some critics blame Fannie and Freddie’s troubles on government mandates to finance more loans for lower-income Americans. But Wall Street firms started the rush into risky subprime and exotic loans; Fannie and Freddie just followed their competitors’ lead. The real problem with Fannie and Freddie was that the public assumed correctly, as it turns out that the government wouldn’t allow them to fail, making them more attractive to lenders and investors. They grew too big and took on far too much risk, precipitating a $187-billion bailout. Fannie and Freddie demonstrate that Washington can’t use government-sponsored private companies to carry out its housing policies.

Remis will fill the Dugans remaining term this year. “I am truly pleased that individuals possessing such extraordinary experience and community commitment have accept my invitation to serve North Andover,” DiSalvo wrote in a press release. “I know the five individuals have designated to serve today have the credentials, professional skills, collective knowledge, good judgment and personal discretion to fulfill that mandate as part of the Finance Committee.” DiSalvo also detailed the professional history of each appointee in the release, adding in a follow-up interview each member was “carefully selected to fit my view with what concerns present themselves in the near future.” Susan Almono is the current chair of the North Andover Sustainability Committee and has more than 25 years of experience in economic development of underserved communities. She is currently a manager at the Merrimack Valley Workforce Investment Board. Marta Solof previously served as a director of the Merrimack Valley YMCA and managed a team of 22 employees.


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