tyb
nice to see you on a sat night
>d'oh
glad to hear and yes we do.
>spouse looks and laughs!
lotsa stuff I grab and never see. that will be for when this is over and can enjoy the treasures uncovered. collage anon's stuff and similar.
Wells Fargo Curtails Jumbo Loans Amid Market Turmoil
WFC substantially curtailed its program for making large loans this week, one of the most pronounced signs yet of how the recent market turmoil is cutting off access to some types of mortgages.
America's largest mortgage lender will only refinance jumbo mortgages for customers who hold at least $250,000 in liquid assets with the bank, according to a bank spokesman. The change is effective immediately.
That means that a customer who already has a jumbo loan with Wells Fargo can't refinance to take advantage of falling rates unless they keep money with the bank. The bank hasn't changed policies for loans used to purchase properties.
A jumbo loan is one considered too big to be sold to government mortgage corporations Fannie Mae and Freddie Mac. In most markets, it must be larger than $510,400 this year, but in the highest-cost areas it must be larger than $ 765,600.
WFC extended more residential mortgages than any other lender last year, according to industry-research group Inside Mortgage Finance.'
It was also the biggest lender for jumbo loans, extending some $70 billion of them in 2019.
Conventional loans that are guaranteed by Fannie Mae or Freddie Mac are still widely available. But loans without government backing, like jumbo loans, have been harder to come by during the recent market fluctuations because there has been limited appetite for investors to buy these loans.
Reflecting this, the average interest rate on a 30-year jumbo mortgage on Friday was 3.86%, well above the 3.44% on a conforming mortgage, according to indexes kept by Optimal Blue LLC. These are typically closely aligned during more normal periods.
Some banks don't sell jumbo loans to investors, but rather keep them on their balance sheets.
Wells Fargo faces limitations on its ability to do so. Since 2018, the Federal Reserve has capped the bank's total assets because of risk- management failures tied to its fake-accounts scandal. That gives it limited flexibility to make loans that it holds onto.
The bank also said earlier this week that it would stop purchasing all jumbo loans made by third-party mortgage bankers. Its third-party mortgage business, known as correspondent lending, amounted to about one fifth of its total business in the final three months of 2019, according to Inside Mortgage Finance.
https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=WFC%2FPOstoryid=202004041816DOWJONESDJONLINE000191&sb=1
CMSgt Towberman sworn in as the first Senior Enlisted Advisor for the U.S. Space Force
ARLINGTON, Va. – Chief Master Sgt. Roger A. Towberman became the first Senior Enlisted Advisor of the U.S. Space Force today as Gen. Jay Raymond, USSF Chief of Space Operations, administered the Oath of Enlistment during a small ceremony in the office of the Secretary of the Air Force, Barbara Barrett, at the Pentagon.
Initial plans to formalize Towberman as the USSF’s first enlisted member were delayed because of the rapidly developing COVID-19 pandemic. However, the SecAF and CSO decided to move ahead with enlisting Towberman this week.
“On this monumental day, Chief Master Sergeant Towberman joins the Space Force as employee number two. But he is also number one in many ways.” said Barrett. “He is the first Space Force enlisted member and the first Senior Enlisted Advisor to the Space Force. He will represent and guide the enlisted corps while designing the future of the Nation's newest Service – the only force dedicated to protecting America's way of life that depends on space.”
Today’s date signifies a tradition of heritage extending back to April 3, 1967, when Paul Wesley Airey became the first Chief Master Sergeant of the Air Force. A larger ceremony reflective of the significance of today’s notable event is tentatively planned for later this year.
“Chief Towberman is the right person at the right time, and that time is now. In a perfect world this event would have brought together family, friends, and military and civilian professionals to celebrate history and begin an exciting new chapter,” said Raymond. “However, the global pandemic has made that impossible, and now is the time to take care of our force and our families, and to unify our Space leadership team here in the Pentagon.”
The SEA position represents the highest enlisted level of leadership in the USSF. Towberman will serve as the personal advisor to the CSO and SecAF on all issues regarding the welfare, readiness, morale, proper utilization, and progress of USSF enlisted members and their families. He will also continue to serve as Command Senior Enlisted Leader for United States Space Command until another SEL is named.
“This is such an important journey we are beginning. We are focused on the future, and I am excited about what’s to come,” said Towberman. “More importantly, I’m focused on the crisis at hand … as we all are.”
“Our space mission continues no matter the challenge and I am excited about the limitless opportunity to build a force that is tailor-made for a future of war fighting."
As of today, Towberman will wear the same operational camouflage pattern uniform configuration as the CSO, but with a new, yet interim, rank insignia.
The general shape of the interim rank insignia is consistent with Air Force CMSgt rank insignia as well as other SEAs. The delta, globe and orbit are consistent with the official Space Force seal, and the two stars in the upper portion are consistent with the SEA rank insignia of other services. Until a Space Force service uniform is designed, the stripes will be consistent with the current colors (white and blue) of the Air Force service uniform.
Towberman sees rank insignia and uniform design as a small yet important part of building the overall identity and culture of the nation’s sixth and newest military service. But his focus is clearly fixed on building the Space Force to meet the nation’s needs.
“We continue to plan our future and I believe it will be incredibly bright,” Towberman said. “We have the right people in place and we are dreaming big.” The men and women of the USSF now have a SEA as they continue to safely conduct all space operations and planning efforts for the full stand up of the USSF.
“Chief Towberman's enlistment continues our critical journey to establish the U.S. Space Force,” added Raymond. “But more importantly, it strengthens our leadership team and sharpens our focus on caring for our service members in response to the current crisis."
https://www.spaceforce.mil/News/Article/2135959/cmsgt-towberman-sworn-in-as-the-first-senior-enlisted-advisor-for-the-us-space