FHFA should ensure consistency during COVID recovery

first_imgFHFA ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The Federal Housing Finance Administration (FHFA) should ensure there is consistency between the policies within their regulatory purview and the directives of Congress during the COVID-19 recovery, CUNA wrote Tuesday to the House Financial Services Committee. The committee is scheduled to hear testimony Wednesday from FHFA Director Mark Calabria on the agency’s response to the pandemic.“Credit unions have encountered an increased number of distressed borrowers seeking forbearances or other assistance. As forbearance requests increase, so too do the questions surrounding the process and procedures,” the letter reads. “We call on Congress to urge the FHFA, Fannie and Freddie to issue clarifying guidance and additional resources regarding the treatment of escrow, private mortgage insurance (PMI), credit life, credit disability, and interest during the period of loan deferment and after the deferment concludes, FHFA and the GSEs could provide clarity on the timing of any required escrow analysis and the options for repayment of unpaid escrow.”Additional highlights of the letter include:While CUNA supports initiatives to aid distressed borrowers, is it increasingly concerned with the impact of many forbearances on the liquidity of mortgage servicers. CUNA recommends policymakers act to provide a funding source accessible to mortgage servicers as the financial disruption becomes prolonged;center_img continue reading »last_img read more

Denmark to draft scheme inspired by UK’s Stewardship Code

first_img“It will be both to the advantage of investors and businesses, if, for example, pension funds show a more visible engagement with those businesses they invest in,” he noted.At the same time, the ministry said it had decided to boost the number of people on the committee by up to two new members who had relevant investment experience, so that the panel had a sufficient level of investment skills to carry out the new work. At the moment, the committee has seven members including Dorrit Vanglo, the chief executive of pension fund LD.It had not yet been decided who would fill these new posts, the ministry said.It praised the UK’s Stewardship Code, which was launched in 2010, saying it had contributed to raising the level of engagement among institutional investors in connection with their investments in British companies.Last December, the Financial Reporting Council (FRC) said it would soon begin assessing and rating pension funds and asset managers on their level of engagement with the Stewardship Code.The International Corporate Governance Network (ICGN) said late last year that it was drafting a global stewardship code building on similar initiatives in Japan and the UK. The Danish government is set to draft a code, based on the UK Stewardship Code, to steer the country’s pension providers towards more proactive engagement with company management.Troels Lund Poulsen, minister for business and growth, said the proposed code would ensure a focus on healthy, long-term corporate activity.“It benefits Danish competitiveness if institutional investors use their influence and skills to help Danish companies operate in the best possible way,” he said.Lund Poulsen said he had asked the Committee on Corporate Governance (Komitéen for god Selskabsledelse) to draft a set of recommendations that could strengthen active ownership.last_img read more

First open heart surgery performed in Belize

first_img Sharing is caring! Tweet BELIZE CITY, Belize — On Monday, physicians from the Karl Heusner Memorial Hospital (KHMH), in Belize City, Belize, and from Carolinas HealthCare System (CHS) performed the first open heart surgery in the country of Belize. Adrian Coye, MD, medical services director at KHMH and Mark Stiegel, MD, FACS, cardiothoracic surgeon with CHS’s Sanger Heart & Vascular Institute (SHVI), performed a coronary artery bypass graft on a 72-year-old Belizean man. The patient is recovering at the hospital, where he will be monitored for at least three days post-surgery. On Tuesday, the surgeons were due to perform a mitral valve replacement on a 56-year-old Belizean woman, completing a second heart surgery. “This is a very special moment that has allowed everyone involved to make history in Belize,” said Coye. “Belizean patients should receive the same level of care as others worldwide, and we are thrilled to have reached this point in what we can offer for medical services in our country.”Although heart disease is the second leading cause of death in Belize, the country lacked a modern cardiovascular diagnostic and interventional facility up until 2011, when CHS’s International Medical Outreach (IMO) Program began providing support. Before that time, patients would either not receive treatment or would travel to neighbouring countries for cardiac services. Today, due to ongoing support from the IMO Program, KHMH has the equipment and medical expertise necessary to diagnose and treat patients with heart ailments in the country. “This is an exciting time for the people of Belize, and we hope this achievement paves the way for future improvements in the country’s healthcare services,” said Francis Robicsek, MD, PhD, founder and vice president of the IMO Program, a partnership between CHS and the Heineman Foundation of Charlotte (Heineman). “In collaboration with SHVI, we will continue our support to KHMH and emerging cardiology program to provide sustainable cardiac care in Belize.” The IMO Program donated and installed the country’s first fully-equipped cardiac catheterization laboratory in February 2011 at KHMH, one of only two major hospitals in Belize. The laboratory, also equipped with diagnostic imaging equipment, modernized cardiac care by 30 years.Since October 2011, the IMO Program has sent cardiology teams from SHVI to perform catheterizations in Belize each month and will continue to send teams until the interventional cardiologist at KHMH is trained to perform catheterizations alone. The procedures performed in the laboratory have helped identify several patients in need of open heart surgery. “We are proud and privileged to support our colleagues in Belize and to help them offer advanced cardiovascular services for the benefit of their citizens,” said Michael Tarwater, chief executive officer of CHS. “Our involvement in this momentous accomplishment is an outcome of CHS’s commitment to healthcare innovation and its quality cardiology programs through SHVI. We look forward to continuing our collaboration globally.”The open heart surgery program at SHVI was ranked in the top 15 percent in the United States for coronary artery bypass graft and received a three out of three star rating by The Society for Thoracic Surgeons from July 2010 to June 2011.The IMO Program also helped make possible the first heart transplant surgery in Costa Rica in 2007, and it co-founded the largest, most comprehensive heart institute in Central America, located in Guatemala City, in 1984. The institute was established nearly a decade after the Program assisted with the first five open heart surgeries in Guatemala.Since the 1960s, the IMO Program has donated a variety of medical equipment to hospitals and clinics worldwide, and it has facilitated free educational opportunities for medical personnel from facilities globally. Coye and other medical staff at KHMH have benefited from educational experiences at CHS’s largest hospital, Carolinas Medical Center, in Charlotte.“This is a milestone in the history of KHMH and of medicine in Belize,” said Gary Longsworth, MD, chief executive officer of KHMH. “The procedures prove what can be done when you have a committed and determined team, as well as wonderful cooperation from organizations like CHS and Heineman.”Caribbean News Now Share HealthLocalNews First open heart surgery performed in Belize by: – July 18, 2012center_img Share 22 Views   no discussions Sharelast_img read more