DS News Webcast: Friday 12/20/2013

first_img Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago December 20, 2013 545 Views 2013-12-20 DSNews The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: DSNews DS News Webcast: Friday 12/20/2013 Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Related Articles The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Ocwen to Pay $2B for Servicing Violations Next: Report: Home Values Recaptured $1.9 Trillion in 2013 Sign up for DS News Daily Subscribe Share Save in Featured, Media, Webcasts Home / Featured / DS News Webcast: Friday 12/20/2013last_img read more

DS News Webcast: Wednesday 6/11/2014

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2014-06-11 DSNews About Author: DSNews Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / DS News Webcast: Wednesday 6/11/2014 Subscribe The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles in Featured, Media, Webcastscenter_img The Best Markets For Residential Property Investors 2 days ago Previous: Home Warranties Help Homes Sell Faster, Higher Prices Next: SterlingBackcheck to Offer Background Screening Solution DS News Webcast: Wednesday 6/11/2014 Is Rise in Forbearance Volume Cause for Concern? 2 days ago  Print This Post Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 11, 2014 782 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Mortgage Choice Act of 2013 cleared a major hurdle, passing in the House despite reservations from critics who say it may reopen the door to irresponsible lending. Introduced last year by a bipartisan group of representatives, the bill would amend the Truth in Lending Act to exempt fees from affiliated title companies from counting toward the 3 percent point and fee threshold established in the Qualified Mortgage rule. The bill would also clarify the treatment of insurance and taxes held in escrow.However, not everyone agrees with the bill’s approach. In a statement released Monday, the Center for Responsible Lending said H.R. 3211 could “upset the careful balance struck by the Consumer Financial Protection Bureau” in its creation of mortgage rules designed to protect consumers. Still, Monday’s news garnered praise from industry groups, including the National Association of Realtors, the National Association of Federal Credit Unions, and the Mortgage Bankers Association, among others.A study released by the Service Contract Industry Council found that homes covered by a protection plan sell faster and for more money than those without one. According to the group’s most recent look at nationwide home sale prices, homes sold with a protection plan spend, on average, 11 fewer days on the market. SCIC’s findings also show that homes on average sold for about $2,300 more when covered by a plan, and the ability to transfer a home warranty to new owners creates added incentives for buyers.last_img read more

Rising Rents Not Motivating Consumers to Buy Homes, Research Shows

first_img About Author: Xhevrije West Rising Rents Not Motivating Consumers to Buy Homes, Research Shows The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago New Freddie Mac research reveals that despite rising rents, the majority of renters are not motivated to purchase a home and positive perceptions about renting are increasing. Harris Poll was selected by Freddie Mac to conduct the survey of more than 2,000 U.S. adults online in March 2015 to get their renting viewpoints.”We’ve found that rising rents do not appear to be playing a significant role in motivating renters to buy a home,” said David Brickman, EVP of Freddie Mac Multifamily. “This contradicts what some in the housing market think as they expect more renters ought to be actively looking to purchase a home. We believe rising rents are primarily a sign of increased demand rather than a signal that home purchases will be increasing.”According to the U.S. Census Bureau, more than one-third of U.S. households are renting homes, and renters make up all net household growth over the last several years.This year, rents are expected to rise 3.4 percent above inflation, a slight decrease from last years’ number of 3.6, according to the research. Only six percent of renters who have lived in their home longer than two years have experienced a decrease in their rent amount, while 38 percent of renters experienced an increase in their rent amount in the last two years.Of the renters who experienced an increase in rent, 70 percent noted that they want to buy a home but cannot afford it right now, the data found. Fifty-one percent said that they would have to put off their plans to buy a home for now. Another 44 percent said that they would like to buy and are looking for a home to purchase.”Growth in the number of renter households is occurring amid an improving job market and economy,” Brickman said. “The demand for rental housing is increasing and an estimated 440,000 new apartment units are needed each year to keep up with demand.”A third of renters indicated in the survey that they are very satisfied with their rental experience and 30 percent say they are moderately satisfied. The main reasons selected for those that are satisfied with their renting experience are freedom from home maintenance, more flexibility over where you live, and protection against declines in home prices. These choices were the same in the last survey, with the numbers rising slightly. In spite of rent increases, 53 percent say they will not adjust their spending habits and 46 percent say they like where they live and will stay in their current place.Click here to go to Freddie Mac’s research page for additional information. Freddie Mac Homeownership Rising Rents 2015-05-18 Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Freddie Mac Homeownership Rising Rents Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago May 18, 2015 994 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Rising Rents Not Motivating Consumers to Buy Homes, Research Shows Subscribe Previous: VRM Mortgage Services Honored by DiversityBusiness For Second Straight Year Next: White Paper Authors Warn of the Cost of Reprivatizing GSEslast_img read more

The Collingwood Group Chairman Debates Fed Rate Hike

first_img Tagged with: Collingwood Group Federal Reserve Interest Rate Increase  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Featured / The Collingwood Group Chairman Debates Fed Rate Hike Data Provider Black Knight to Acquire Top of Mind 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Collingwood Group Federal Reserve Interest Rate Increase 2015-11-30 Brian Honea Demand Propels Home Prices Upward 2 days ago Subscribe Related Articles November 30, 2015 1,317 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago in Featured, Government, Newscenter_img About Author: Xhevrije West Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Two Years In, Overall Performance of SFR Securitizations Remains Strong Next: Low Supply, Escalating Prices Combine to Slow Pace of Pending Home Sales Sign up for DS News Daily With one last opportunity to raise rates this year, many believe that the Federal Open Market Committee (FOMC) just may follow though with an obscure promise made in the last meeting in October.The final meeting, set to take place December 15th-16th, will be the huge unveiling as to whether or not the Fed will raise interest rates. Much of the pressure surrounding this decision is stemming from the upcoming November jobs report set to be released this Friday.However, as the job reports have been mostly positive in recent months, the Friday report is likely to be good enough to initiate the rate hike.The Collingwood Group Chairman Tim Rood debated the possible rate hike in December and other topics on Fox Business Network’s Cavuto Coast to Coast.https://youtu.be/TFjfpf4F__A The Collingwood Group Chairman Debates Fed Rate Hike The Best Markets For Residential Property Investors 2 days ago Share Save Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

What Should Be the Aim of GSE Reform?

first_imgSubscribe The Best Markets For Residential Property Investors 2 days ago Related Articles Previous: AACER: Bankruptcy Filings Reverse Upward Course Next: Freddie Mac is Close to Meeting One Year-End Goal Share Save Home / Daily Dose / What Should Be the Aim of GSE Reform? About Author: Xhevrije West Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Fannie Mae Freddie Mac GSE Reform Housing Market Urban Institute Fannie Mae Freddie Mac GSE Reform Housing Market Urban Institute 2016-05-04 Brian Honea As the GSE conservatorship surges forward with little promise of reform, many in the industry cannot help but wonder what will happen next.Gary Acosta, Co-founder and CEO of the National Association of Hispanic Real Estate Professionals (NAHREP), Jim Park, CEO of the Mortgage Collaborative, and Joseph J. Murin, Vice Chairman of Chrysalis Holding LLC and Chairman of JJAM Financial LLC said in an essay published by the Urban Institute that if the GSE reform should happen, the industry should aim to meet the needs of future generations of homeowners, not the wants of political interests. In order to do this, however, Ginnie Mae will need to come forward as its own government corporation.”These needs can be met only with a sustainable structure that provides consistent market execution, low down payment opportunity, and long-term fixed-rate mortgage finance, with the government taking as little risk as the market can bear to deliver this sustainable structure,” the authors wrote.The authors suggest a reform that uses “existing plumbing” of the mortgage market to “develop a safer and more sustainable market bearing an explicit catastrophic-risk government guarantee that will serve each segment of the homebuying public.”The proposal focuses on two goals: (1) Meeting the consumer needs, and (2) Eliminating as much of the government risk exposure as possible.The authors proposed two models under a new Ginnie Mae 2.0 structure that uses the best of the GSEs’ core capabilities and Ginnie Mae’s functionality.”Ginnie Mae is the most viable solution with the least disruption because the U.S. mortgage market is already familiar with Ginnie Mae, as are most domestic and foreign investors,” the authors stated. “Other proposals seem too complicated or create unnecessary additional structures to meet the consumer and MBS buyer needs. Too many other proposals don’t seem sustainable or simply don’t remove the “private gain and public risk” that partly caused the housing crisis and continues to haunt us.”They concluded, “Any solution for the future of the GSEs needs to be based on simple principles and meet the two goals we believe are strategic imperatives for America. Ginnie Mae 2.0 could meet those goals and the needs of current and future homebuyers and MBS buyers in the least disruptive and most sustainable manner.”Taxpayers can breathe a sigh of relief after receiving the news that Freddie Mac will not need a draw on Treasury following widespread speculation in the previous week or so that Freddie Mac would need another draw due to the GSEs’ dwindling capital buffer, which is currently $1.2 billion.First the good news from Freddie Mac’s Q1 2016 Financial Results released on Tuesday morning: Freddie Mac will not need a draw on Treasury for the time being.Now the bad news: Freddie Mac reported a net loss of $354 million for the first quarter following a net profit of nearly $2.2 billion in Q4. Not only that, but Q1 marked the second time in the last three quarters that Freddie Mac suffered a net loss; for the third quarter of 2015, the net loss was $475 million.Fannie Mae earnings are expected tomorrow. Will this government-sponsored enterprise need a bailout from Treasury?center_img May 4, 2016 1,351 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago What Should Be the Aim of GSE Reform?  Print This Post Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Declining Trend Continues for Bankruptcy Filings

first_img Tagged with: AACER Bankruptcy Filings  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Nationwide bankruptcy filings were about 5 percent lower in June 2016 compared with a year earlier, continuing an ongoing trend of decline, according to June 2016 AACER bankruptcy data reported by Epiq Systems.Bankruptcy filings totaled 66,284 in June, which was actually a slight increase from May’s total of 66,094, but was nearly 5 percent lower than June 2015’s total of 69,772 (a decline of 3,488).  Year-to-date, there have been 398,495 bankruptcy filings nationwide for the first half of 2016 (about 66,415 per month), down from 2015’s year-to-date total through the end of June of 422,782 (about 70,463 per month).The average number of filings per day in June 2016 was 3,012 over 22 days, which is a decline from May’s daily average of 3,147 over 21 days. The extra filing day in June compared to May accounts for the slight increase in the number of filings in June; had June featured 21 filing days, there would have been nearly 3,000 fewer filings during the month than in May. Bankruptcy filings have averaged 3,162 for the first six months of 2016 over a period of 126 filing days.June’s total of 66,284 bankruptcy filings was less than half of the peak total for the month of June recorded in 2010 (134,797).Click HERE to view the entire reportThe state with the most cumulative filings for the first six months of 2016 was again California with 37,248 after adding about 6,200 more in June. As has been the trend, Illinois was second in year-to-date filings with 27,680, after adding another 4,200 in June. The same three states ranked third through fifth in June as they did in May: Florida (23,234), Georgia (22,841), and Ohio (18,827).Tennessee and Alabama continued to rank first and second among states in bankruptcy filings per capita for June with 5.63 and 5.37 for every 10,000 people, respectively. Those numbers were virtually the same as May’s numbers. The national average of filings per capita in June 2016 held steady over-the-month at 2.56, though it has increased by more than 50 basis points since January 2016’s average of 2.02 percent. July 6, 2016 1,231 Views About Author: Brian Honea Declining Trend Continues for Bankruptcy Filings Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Previous: Can Local Governments Impede Housing Markets? Next: Rising Lease Expirations Do Not Deter SFR Vacancy Rate The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Declining Trend Continues for Bankruptcy Filings Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago AACER Bankruptcy Filings 2016-07-06 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Charting Consumer Credit Trends

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Charting Consumer Credit Trends Servicers Navigate the Post-Pandemic World 2 days ago August 9, 2019 862 Views Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribe Consumer Credit Federal Reserve HELOC NAHB Student Debt 2019-08-09 Radhika Ojha Demand Propels Home Prices Upward 2 days ago Related Articles Previous: Waters: FHA ‘Acted in Haste’ on Distressed Assets Program Next: Company Upgrades App for Title Agentscenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Consumer credit increased by 5% in Q2 2019 according to the Federal Reserve’s latest G.19 report. The data indicated a rise in both revolving as well as nonrevolving credit. While revolving credit rose at an annual rate of 5-1/4%, nonrevolving credit increased at an annual rate of 4-3/4%.As of June 30, the Fed report indicated that consumer credit totaled $4.1 trillion, with $1.1 trillion in revolving debt and $3 trillion in nonrevolving debt.According to an analysis of the report by the National Association of Home Builders (NAHB), consumer credit increased by $15 billion month-over-month. In June, consumer credit increased at a seasonally adjusted annual rate of 4%.In what could impact home equity lines of credit (HELOCs) moving forward, revolving credit greatly decelerated and was virtually unchanged from the previous month, decreasing by $80 million, while nonrevolving credit increased by $15 billion at an annual rate of 6%.While revolving credit plans are largely composed of credit card debt, they also include HELOCs and might be secured or unsecured by collateral and allow a consumer to borrow up to a prearranged limit and repay the debt in one or more installments, the NAHB analysis explainedThe analysis additionally revealed that total student debt, a component of nonrevolving credit, stood at $1.6 trillion by the end of Q2 2019. Out of this total, $6 billion was added between March and June.Student debt has been steadily increasing since prior to the Great Recession and remains one of the main obstacles to homeownership by younger demographics. Earlier this year, NAHB had reported that while student debt has increased, credit lending standards have become more stringent after the Great Recession, thus providing another impact on homeownership.Additionally, the study had found that since student-loan debt historically made up the majority of nonmortgage, nonrevolving credit, “homeownership is the opportunity cost for its accumulation.” Demand Propels Home Prices Upward 2 days ago About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Tagged with: Consumer Credit Federal Reserve HELOC NAHB Student Debt Home / Daily Dose / Charting Consumer Credit Trends Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

How Effective Is FHA’s Distressed Asset Stabilization Program?

first_img Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Calyx Announces New Integration Next: Home Price Slowdown: Cause for Concern? The Week Ahead: Nearing the Forbearance Exit 2 days ago How Effective Is FHA’s Distressed Asset Stabilization Program? A new study by the Urban Institute analyzed the Government Accountability Office’s (GAO’s) recent evaluation of the Federal Housing Administration’s (FHA’s) Distressed Asset Stabilization Program (DASP). The study found that while the GAO evaluation has made recommendations to improve the quality control of this program, its conclusions on the DASP’s overall effectiveness were “less helpful.”The Urban Institute said the GAO had concluded that “in aggregate sold defaulted loans were more likely to experience foreclosure than comparable unsold defaulted loans.” It had noted the probability of foreclosure 24 months after the loan servicing was transferred to the investor was 43% for sold loans through the program, versus 36% for unsold loans.”Though this figure appears bleak, and is indeed the subject of criticism in the report, it indicates the program’s success, not its weakness,” Laurie Goodman, VP, Housing Finance Policy, Urban Institute; Edward Golding, and Jim Parrott, both Nonresident Fellows at Urban Institute wrote in a blog.The writers said that the figures that GAO reached compared the outcomes of delinquent borrowers who FHA could no longer help because of which they were put into DASP, with borrowers FHA could still help avoid foreclosure. “Put differently, it shows the program changed the probability of foreclosure in that first group from close to 100% to 43%, only 7% higher than the group of borrowers FHA was still in a position to help on its own,” they said.Some of the ways in which investors who bought loans through the DASP helped delinquent borrowers avoid foreclosure included:Extending the loan term to 40 years or cutting the interest rate to below a market rate of interestForgiving the principal on the loansForbearing more than 30% of the loan value, or offering more generous terms for deeds in lieu of foreclosure or short sales”None of these options is available to FHA given their statutory authority,” the researchers pointed out while making a case for the importance of DASP. “Again,  borrowers who participate in DASP are basically out of options with FHA.”However, they added that more needs to be done to “ensure borrowers whose loans were sold through this program got the best shot possible and any foreclosures had minimal impact on the community.” While the FHA had made changes along these lines to the program in 2016, the researchers wrote that only one auction had taken place after these changes were implemented. Because of this, their full impact has not been studied.The study, therefore, made some recommendations that could help FHA improve its program. They included using better information systems and monitoring capability and more personnel and funding to manage the program. However, the most important aspect of FHA improving the program would be by releasing much more loan-level data, including data on DASP, “so that independent analysts can help them evaluate their programs. Indeed, periodic public reporting of outcomes would be valuable.”Click here to read the full blog. Related Articles Share Save Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / How Effective Is FHA’s Distressed Asset Stabilization Program? Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, News Servicers Navigate the Post-Pandemic World 2 days agocenter_img Borrowers Delinquency Distressed Assets FHA Foreclosures GAO Investors mortgage Urban Institute 2019-08-19 Radhika Ojha Tagged with: Borrowers Delinquency Distressed Assets FHA Foreclosures GAO Investors mortgage Urban Institute Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Radhika Ojha August 19, 2019 1,766 Views  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more

Special council meeting to discuss weather response and cost

first_img Guidelines for reopening of hospitality sector published Facebook Previous articleInishowen NCT centre open for businessNext articleMan charged with causing death of Derry man News Highland Google+ As Donegal County Council and the government’s Emergency Response Committee reiterate the need to conserve water, the way the council dealt with the severe weather is to be discussed at a special council meeting on Friday.The meeting will see officials brief councillors on how much was done, and what the cost of the work will be.This special meeting of council has been call to present members with a comprehensive report on all the services provided by the Council since the start of the severe weather conditions, and to discuss plans for dealing with any possible further periods of severe weather, as well as dealing with all infrastructural damage arising from the severe weather conditions.However, possibly the most difficult element of the meeting will be a review of the full costs of the services provided and the consequential impacts on the 2010 Budget.The wintry conditions which are only now beginning to abate actually began the night before the council’s budget meeting in December, and the cost of gritting and clearing roads on a daily basis since then will eat substantially into the authority’s road maintenance budget, having clearly gone far beyond the expectations of the budget document.The costs of the past three weeks will have ramifications that stretch far beyond the winter. Calls for maternity restrictions to be lifted at LUH Special council meeting to discuss weather response and cost WhatsApp Google+ 448 new cases of Covid 19 reported today Twitter RELATED ARTICLESMORE FROM AUTHORcenter_img Pinterest NPHET ‘positive’ on easing restrictions – Donnelly Three factors driving Donegal housing market – Robinson Facebook By News Highland – January 13, 2010 Help sought in search for missing 27 year old in Letterkenny Newsx Adverts Pinterest Twitter WhatsApplast_img read more