DS News Webcast: Tuesday 9/30/2014

first_imgSign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Related Articles  Print This Post The Best Markets For Residential Property Investors 2 days ago DS News Webcast: Tuesday 9/30/2014 2014-09-30 Jordan Funderburk Previous: Rosenberg & Associates Adds Two Attorneys Next: News Corp to Acquire Move, Inc. in $950 Million Deal Demand Propels Home Prices Upward 2 days ago September 30, 2014 586 Views The Consumer Financial Protection Bureau ordered Michigan-based bank Flagstar to pay $37.5 million dollars in penalties for violating the new mortgage servicing rules by failing to devote sufficient resources to its foreclosure prevention programs, CFPB announced on Monday. CFPB said that Flagstar illegally blocked borrowers’ efforts to avoid foreclosure by unnecessarily delaying the processing of foreclosure relief applications, intentionally delaying permanent loan modifications, failing to notify borrowers when their applications for foreclosure relief were incomplete, and denying loan modifications to qualified borrowers.CFPB discovered upon examination that during 2011, Flagstar had more than 13,000 active loss mitigation applications but only 25 full-time employees and a third party vendor in India reviewing them, increasing the wait time to review a single application to nine months in some cases. CFPB found that the average wait time to Flagstar’s loss mitigation call center was 25 minutes, with more than 50 percent of calls being abandoned. Flagstar was ordered to pay $27.5 million dollars in restitution to the victims and an additional $10 million dollar fine, totaling $37.5 million dollars in penalties.Refinance activity remained more or less level from June to July, though interest in the government’s Home Affordable Refinance Program continued to dwindle, the Federal Housing Finance Agency reported. In a recent release, the agency reported a combined total of nearly 120,000 refinances were completed at Fannie Mae and Freddie Mac in July, slightly down from the figure reported for June. While low compared to the boom in recent years, refinance volumes over the last few months have shown more life than earlier this year as mortgage interest rates have hovered in the low 4.0 percent range. Servicers Navigate the Post-Pandemic World 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Home / Featured / DS News Webcast: Tuesday 9/30/2014 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago in Featured, Media, Webcasts Share Save About Author: Jordan Funderburk Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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FHFA Outlines 2015 Goals for Fannie Mae, Freddie Mac

first_imgSign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Tory Barringer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Common Securitization Solutions Fannie Mae FHFA Freddie Mac The Federal Housing Finance Agency (FHFA) released its 2015 Scorecard for Fannie Mae and Freddie Mac on Wednesday, outlining the steps the two GSEs are expected to take this year to support the U.S. housing market.As FHFA Director Mel Watt revealed in his first public speech as the agency’s chief, the companies’ new direction revolves around three main objectives: maintain, reduce, and build.”Fannie Mae and Freddie Mac made significant progress toward achieving the goals in FHFA’s Strategic Plan for the Conservatorships last year and we look forward to building on that progress in 2015,” Watt said Wednesday.The chief goal, maintain (which accounts for 40 percent of the scorecard), largely focuses on efforts to increase access to mortgages for creditworthy borrowers while still sticking to responsible risk management practices.Among the goals in that category are instructions for the GSEs to finalize their rep and warranty frameworks (a process started late last year), encourage more participation from smaller lenders, and continue watching for other hurdles to credit access.Also included on the “maintain” list are instructions to practice loss mitigation strategies by directing eligible homeowners to take advantage of the Home Affordable Refinance Program (HARP) and developing plans to cut down on severely delinquent mortgages in the GSEs’ portfolios with loan modifications, short sales, and other actions.The next step in FHFA’s plan, “reduce,” outlines expectations for Fannie and Freddie to reduce their own presence in the mortgage market and boost the role of private capital.Instructions in this category were separate for each GSE: In 2015, Fannie Mae will make credit transfers on reference pools of single-family mortgages with an unpaid principal balance of at least $150 billion, while Freddie Mac is expected to do the same for a balance of $120 billion. The balance requirement for both enterprises will be reviewed and adjusted when needed to reflect market conditions, FHFA said.Finally, both Fannie and Freddie are expected to work with FHFA and each other to build and test a platform designed for a common security between the two of them.While FHFA estimates it will still be years before the development of a common securitization platform (CSP), the agency and the GSEs have already made the first steps by establishing a joint venture—called Common Securitization Solutions (CSS)—to oversee the process.For its part, CSS is tasked with designing the platform, focusing this year on including any functions the GSEs need for their securitization activities and working with them to get input from the public and the mortgage industry.”These objectives will allow FHFA to work with Fannie Mae, Freddie Mac and Common Securitization Solutions to build a strong, vibrant national housing finance market, which will create new homeownership and rental opportunities for existing and potential borrowers,” Watt said. Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Share Save Home / Daily Dose / FHFA Outlines 2015 Goals for Fannie Mae, Freddie Mac  Print This Post FHFA Outlines 2015 Goals for Fannie Mae, Freddie Mac The Week Ahead: Nearing the Forbearance Exit 2 days ago January 14, 2015 1,175 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Subscribe Previous: Fed: Economy Growing at ‘Modest to Moderate’ Pace Amidst Concerns Over Oil Prices Next: House Votes to Delay Key Provision of Dodd-Frank Act Common Securitization Solutions Fannie Mae FHFA Freddie Mac 2015-01-14 Tory Barringerlast_img read more

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Fed Rate Increase is on the Horizon

first_img Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Fed Rate Increase is on the Horizon  Print This Post About Author: Staff Writer Is Rise in Forbearance Volume Cause for Concern? 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago All signs point to a rate increase, but many are speculating as to when this rate increase will hit.Charles Dallara, Partners Group Chairman of Americas, believes that the market’s pricing are indicative of Fed rate increases. During a recent interview with Bloomberg News, he spoke about there being “clear evidence of inflation in the U.S. economy.”Federal Reserve Chair Janet Yellen did not reveal her entire plan of action before the Senate banking committee, however, many are anticipating what’s to come in the following months. The data that was released last week have boosted economic confidence and have increased the possible actions of a Fed rate.The Feds have also raised the short-term goal rate in the month of December for the first time in a year. Many economic experts also expect the meeting outline to disclose a discussion between Fed Lawmakers to begin reducing its balance sheet.During and after the financial crisis, the Fed bought more than $3 trillion in Treasury bonds and mortgage-backed securities, which in turn pushed away long-term interest rates. According toAccording to the USA Today, economists expect the National Association of Realtors to report a 1.1 percent rise in sales in January to a seasonally adjusted annual rate of 5.6 million, and they also expect the Commerce Department to report on Friday a 7.3 percent increase in new home sales last month to a seasonally adjusted annual rate of 575,000.“In December, home sales fell 2.8 percent amid a 3.6-month supply of homes, lowest since 2005,” said Lewis Alexander, an Economist for Nomura. Alexander also noted that pending home sales and mortgage applications have been solid recently, but he expects a rebound in home sales for January. February 20, 2017 1,089 Views The Best Markets For Residential Property Investors 2 days ago Bloomberg News Charles Dallara dsnews Federal Reserve Chair Janet Yellen Lewis Alexander Partners Group Chairman of Americas USA Today 2017-02-20 Staff Writer Home / Featured / Fed Rate Increase is on the Horizon Demand Propels Home Prices Upward 2 days ago Share Save Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Mortgage Delinquency Reaches Plateau Next: BofA, Citigroup CEOs Report Earnings The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago in Featured, Media, News Tagged with: Bloomberg News Charles Dallara dsnews Federal Reserve Chair Janet Yellen Lewis Alexander Partners Group Chairman of Americas USA Todaylast_img read more

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Fannie Mae Announces Winner of Non-performing Loan Sale

first_imgHome / Daily Dose / Fannie Mae Announces Winner of Non-performing Loan Sale  Print This Post Fannie Mae Non-Performing Loans 2018-03-16 David Wharton March 16, 2018 3,680 Views The Best Markets For Residential Property Investors 2 days ago 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 Tagged with: Fannie Mae Non-Performing Loans Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, Journal, News Previous: Appeals Court Clarifies Issues Regarding Robocalls and Consent Next: Securing Foreclosure Protections for Veterans The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Fannie Mae Announces Winner of Non-performing Loan Sale Data Provider Black Knight to Acquire Top of Mind 2 days ago On Wednesday, Fannie Mae announced the winners of its latest sale of non-performing loans, —the twelfth such sale, consisting of approximately 5,700 loans. The loans are divided into three different pools, with a total unpaid principal balance (UPB) of $1.002 billion.Bungalow Series III Trust (Balbec Capital LP) won the first pool of loans, and Elkhorn Depositor LLC (Roosevelt Management Company LLC) won pools 2 and 3.Fannie Mae began marketing these loans to potential bidders on February 13, 2018, working in collaboration with Bank of America Merrill Lynch and First Financial Network, Inc.The Group 1 Pool consisted of 1,061 loans with an aggregate unpaid principal balance of $178,269,824. The average loan size for this pool was $168,021. The weighted average note rate for the pool was 4.48 percent, the weighted average delinquency was 19 months, and the weighted average broker’s price opinion (BPO) loan-to-value ratio was 91 percent.The Group 2 Pool consisted of 2,793 loans with an aggregate UPB of $441,703,102 and an average loan size of $158,146. The weighted average note rate was 5.04 percent, the weighted average delinquency was 34 months, and the weighted average BPO loan-to-value ratio was 65 percent.The Group 3 Pool consisted of 1,822 loans with an aggregate UPB of $382,833,067 and an average loan size of $210,117. The weighted average note rate was 4.38 percent, the weighted average delinquency was 35 months and the weighted average BPO loan-to-value ratio was 130 percent.The second highest bid for Pool 1 was 75.13 percent of UPB; for Pool 2 and Pool 3 combined, the second highest bid was 77.69 percent of UPB.According to Fannie’s media statement, bids for Fannie Mae’s eleventh and twelfth Community Impact Pools are due on March 20, 2018. Share Save Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

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FOMC Meeting: Setting the Pace for Future Rate Hikes

first_img 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 in Daily Dose, Featured, Government, Magazine, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Economy Fannie Mae Federal Reserve FOMC HELOCs HOUSING Mortgage Rates Rate Hikes 2018-03-20 Radhika Ojha The meeting of the Federal Open Market Committee (FOMC)—the policy-making arm of the Federal Reserve begins today. This is also the first time that the meeting is being led by Jerome Powell the new Chairman of the Federal Reserve Board. And while the market expects rate hikes to be announced at the end of this meeting, everyone’s interested to know if the meeting also throws light on long-term policy-tightening measures and what it would mean for the housing industry.In its recent economic forecast, Fannie Mae has said that it expects the current downshift in the first quarter to be temporary as economic fundamentals remain positive. The Economic and Statistic Group (ESR) of the GSE is, in fact, expecting at least three rate hikes this year.“The ESR Group continues to expect the first rate increase of the year at the March meeting, followed by two more increases later this year,” Fannie Mae said in its monthly Economic Outlook Report. Economists monitoring the housing market agree. “Expect the Fed to keep raising rates this year with this being the first of what’s expected to be a total of three or four hikes of a quarter-point each in 2018,” said Holden Lewis, Research Analyst, at NerdWallet.“The Federal Open Market Committee (FOMC) meeting starts today and experts agree that an increase in the Federal Funds Rate is almost certain. In fact, the expectation of future Fed rate hikes is already putting upward pressure on mortgage rates,” said Mark Fleming, Chief Economist at First American. “The benchmark 30-year, fixed-rate mortgage rate jumped three basis points to 4.4 percent this past week. Since the start of the year, the benchmark rate has climbed almost half a percentage point and has increased for eight consecutive weeks.” Explaining the effect of these hikes on consumers with a home equity line of credit (HELOC), Lewis said, “If a consumer has a HELOC, every Fed rate hike affects their bottom line. The interest rates on their credit cards and HELOC go up whenever the Fed raises short-term rates. So a Fed increase by a quarter of a percentage point means consumers’ interest rates go up by the same amount.” Sign up for DS News Daily Home / Daily Dose / FOMC Meeting: Setting the Pace for Future Rate Hikes Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Single-Family Rental Summit Dives Deep Into Investment Opportunities Next: 5 Cities Where Homes Are Flying Off the Market  Print This Post March 20, 2018 2,097 Views Tagged with: Economy Fannie Mae Federal Reserve FOMC HELOCs HOUSING Mortgage Rates Rate Hikes The Best Markets For Residential Property Investors 2 days ago Share Save FOMC Meeting: Setting the Pace for Future Rate Hikes About Author: Radhika Ojha Subscribelast_img read more

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Mortgage Professionals Unite to Support Cancer Charity Scholarship Gala

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] in Daily Dose, Featured, News, Servicing The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: REO Volume in High-Performing Metros Next: Federal Reserve Delays Rate Hike: Industry Reacts Tagged with: benefit cancer Charity Douglas Whittemore gala Ruth Cheatham Foundation US Bank Servicers Navigate the Post-Pandemic World 2 days ago Share Save On Friday, May 3, the second annual Ruth Cheatham Foundation Gala will once again unfold in Dallas, Texas, bringing together a number of mortgage and default industry organizations to support the foundation’s mission to provide advocacy, education, and financial aid to young cancer patients and survivors.To be hosted at the Omni Mandalay, the event will begin at 6 p.m. CDT with a cocktail hour, to be followed by dinner and the full program beginning at 7 p.m. The event will also showcase the awarding of 20 scholarships to teen cancer patients and survivors.The Ruth Cheatham Foundation was co-founded by Douglas Whittemore, SVP and Operations Executive for Mortgage and Consumer Default Servicing for U.S. Bank, and his wife, Lindsay. She currently serves as the charity’s president, while Douglas serves as treasurer.Douglas Whittemore told DS News that the Ruth Cheatham Foundation was named for a beloved family member who passed away following a 10-year battle against cancer.“What amazed us both was the massive outpouring of support we saw from all of the youth Ruth had taught over the years,” Whittemore said. Spurred by stories of young people Ruth had inspired during her life, and recognizing that adolescents were an underserved cancer patient population within the U.S., Whittemore said that he and Lindsay decided to launch an organization designed to address those needs.“In the past year, our scholarships granted have grown 128%, and we hope to sustain that level of growth in the years to come,” Whittemore said. “These young adults are simply amazing, and it shows through their perseverance and tenacity throughout life’s challenges.”The gala is being supported by an array of mortgage and default industry sponsors, including ALAW, Altisource, Auction.com, Marinosci Law Group, McCalla Raymer Leibert Pierce, McCarthy & Holthus, Nationwide Title Clearing, Phelan Hallinan Diamond & Jones, Radian, ServiceLink, Xome, and more.Whittemore also thanked the group’s mortgage industry supporters. “It speaks to the character of many of the professionals in the servicing world,” he said. “When we partner as a group, it’s encouraging and astounding what we are capable of doing.”The second annual Ruth Cheatham Foundation Gala will include appearances by former Dallas Cowboy Super Bowl MVP Larry Brown, and former WFAA news anchor Alexa Conomos, Dallas TV personality Courtenay Dehoff, and Sadie Keller, Founder of the Sadie Keller Foundation.The Omni Mandalay is located at 221 E. Los Colinas Blvd. in Irving, Texas. Demand Propels Home Prices Upward 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 Related Articles About Author: David Wharton Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago benefit cancer Charity Douglas Whittemore gala Ruth Cheatham Foundation US Bank 2019-05-01 David Wharton Sign up for DS News Daily Mortgage Professionals Unite to Support Cancer Charity Scholarship Gala Home / Daily Dose / Mortgage Professionals Unite to Support Cancer Charity Scholarship Gala May 1, 2019 2,116 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

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Three men arrested and rifles and handguns seized in RAAD raid in Derry

first_img Three men arrested and rifles and handguns seized in RAAD raid in Derry Twitter Guidelines for reopening of hospitality sector published Previous articleHome of Mayor of Derry raided overnight, Sinn Fein seek an apologyNext articleHarte and McAreavey families asked for privacy News Highland By News Highland – July 13, 2012 Google+ News WhatsApp Three men have been arrested and five assault rifles and three handguns have been seized in overnight raids in Derry.It was part of a major police operation targeting the vigilante group Republican Action Against Drugs.PSNI Chief Constable Matt Baggott said the operation was aimed at tackling punishment shootings in Derry.Police said a total of eight firearms were taken after homes in the city were searched.The men who were arrested are being questioned at the PSNI’s serious crime suite in Antrim.The PSNI said officers came under attack from youths throwing stones and petrol bombs at several locations.Since 2008, Republican Action Against Drugs has murdered one man and shot more than 40 others.In 2011, Andrew Allen from Derry was shot dead in a house in Buncrana in County Donegal. 448 new cases of Covid 19 reported today Facebook Help sought in search for missing 27 year old in Letterkenny center_img Pinterest NPHET ‘positive’ on easing restrictions – Donnelly Calls for maternity restrictions to be lifted at LUH RELATED ARTICLESMORE FROM AUTHOR Pinterest Facebook Twitter Three factors driving Donegal housing market – Robinson Google+ WhatsApplast_img read more

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Some compromise for Donegal fishermen in EU talks

first_img Twitter Previous articleLetterkenny council officials called to crack down on rogue tradersNext articleJudge frustrated at hold up in South Donegal sex case trials News Highland Facebook Further drop in people receiving PUP in Donegal Gardai continue to investigate Kilmacrennan fire By News Highland – December 16, 2009 75 positive cases of Covid confirmed in North Google+ Google+ Facebook Pinterest 365 additional cases of Covid-19 in Republic center_img Pinterest Twitter Main Evening News, Sport and Obituaries Tuesday May 25th Man arrested on suspicion of drugs and criminal property offences in Derry EU fishery talks have ended in Brussels with fishing groups expressing qualified satisfaction over the result.The issue dominating the meeting from an Donegal perspective was the fallout for mackerel fisheries following the break down of the EU Norway talks last week.The European Commission was initially recommending a 50% cut in the mackerel quota but instead is has been raised to 65% of this year’s quota for Ireland, on the basis of further talks with Norway in January. RELATED ARTICLESMORE FROM AUTHOR WhatsApp Some compromise for Donegal fishermen in EU talks News WhatsApplast_img read more

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Hussey wants answers on NI Planning Service goldmine failures

first_imgNewsx Adverts Hussey wants answers on NI Planning Service goldmine failures Google+ Facebook Main Evening News, Sport and Obituaries Tuesday May 25th By News Highland – May 3, 2012 365 additional cases of Covid-19 in Republic Pinterest WhatsApp Facebook Further drop in people receiving PUP in Donegal Pinterestcenter_img WhatsApp Previous articleCeremony to honour Garda Gary Mc Loughlin at County House tomorrowNext articleDaughter of Coleraine murder victim speaks of the family’s loss News Highland Gardai continue to investigate Kilmacrennan fire Twitter Man arrested on suspicion of drugs and criminal property offences in Derry RELATED ARTICLESMORE FROM AUTHOR A West Tyrone MLA says he wants answers from Environment Miniser Alex Atwood about the failue of ther North’s Planning Service to enforce planning regulations at a gold mine near Omagh.Ulster Unionist MLA Ross Hussey has welcomed the Northern Ireland Ombudsman’s recommendation that the Planning Service should pay a total of £30,000 compensation to three residents because of its failureMr Hussey, who is also the current Vice Chair of Omagh District Council says questions were continually being asked of the DOE Planning Service in relation to compliance with the conditions of planning that seemed to be openly disregarded.He’s praised the residents for their resilience………[podcast]http://www.highlandradio.com/wp-content/uploads/2012/05/rossh1pm.mp3[/podcast] Google+ 75 positive cases of Covid confirmed in North Twitterlast_img read more

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Derry Diocesan administrator to replace Cardinal Sean Brady

first_img Man arrested on suspicion of drugs and criminal property offences in Derry WhatsApp Twitter Pinterest Previous articleA number of streets closed due to Strabane security alertNext articleInspector says burglary arrest should give public reasurance News Highland WhatsApp Google+ Twitter By News Highland – January 18, 2013 365 additional cases of Covid-19 in Republic 75 positive cases of Covid confirmed in North Newscenter_img Facebook Google+ Derry Diocesan administrator to replace Cardinal Sean Brady Main Evening News, Sport and Obituaries Tuesday May 25th Facebook Pinterest RELATED ARTICLESMORE FROM AUTHOR Further drop in people receiving PUP in Donegal The administrator of the Diocese of Derry is to be appointed Co-Adjuter Archbishop of Armagh, and will replace Cardinal Sean Brady when he retires in two years time.Mgr. Eamon Martin’s appointment will be confirmed at a press conference in Armagh this morning.He’s been in charge of the Derry Diocese since Bishop Seamus Hegarty stepped aside due to ill health.Speaking on the Shaun Doherty Show, Fr Michael Canny said Mgr Martin is likely to be made a cardinal in the future………..[podcast]http://www.highlandradio.com/wp-content/uploads/2013/01/canny11.mp3[/podcast] Gardai continue to investigate Kilmacrennan firelast_img read more

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