Matawan faces adversity but enjoys solid season

first_img By Warren Rappleyea Staff Writer JERRY WOLKOWITZ Middletown North’s Mike Niesz drives past Freehold Township’s John Kambon during the Lions’ overtime loss at home on Friday. On the heels of a solid 56-45 win at St. John Vianney in Holmdel on Saturday, the Matawan High School boys’ basketball team is looking forward to the second half of the campaign. Freshman Jason Simmons put up 12 points, pulled down 12 rebounds and blocked five shots, as Lucas Castell contributed 14 points and A.J. Roque added 13 points for the Huskies. “That was a big win for us,” Matawan coach Jack George said. “This is a relatively young team, so it will give us some confidence. The guys really came out with purpose against St. John’s, and they played well from start to finish.” The Huskies are indeed a young team, and to make matters more difficult, a scheduling snafu resulted in just seven home games this season. At this point, Matawan has played more games at St. John Vianney’s (four) than it has at home (three). “These things happen, so we’re just trying to work hard and get better,” George said. “We have an up-and-coming team. We have only two seniors, so most of our guys will be back next year, the jayvee and freshman teams are doing well and the Matawan Avenue Middle School team is undefeated. There’s talent in the program, and more is coming.” Senior Troy Robin, a 6-4 forward, leads the Huskies in scoring with an average of 13 points and also contributes seven rebounds. Simmons, who stands at 6-5, is right behind with averages of 12 points and seven boards, and Castell, a junior, is also averaging in double figures, with 10.5 points and 2.5 assists. Point guard Chris Coachman and Roque are averaging six points apiece, and 6-5 forward Carl Howard, usually the first man off the bench, is averaging two points and three rebounds. Other members of the team include senior swingman Mike Abromowitz and sophomores Rasheed Edwards and Eric Fertig, both guards, and Kevin Edwards and Sandy Perry, two forwards. The 6-5 Perry, a recent transfer student, becomes eligible on Friday when the Huskies host Rumson-Fair Haven. At 4-8, it seems a long shot for the Huskies to earn a state playoff berth this season. However, the young team is overcoming adversity and is getting better as the season progresses, which is all a coach can ask for. With a solid nucleus of players at Matawan now, George has plenty of reasons to be optimistic about the future of the program. “We have a lot of potential, and I see a bright future for our team,” he said. “We have talent and height; the only thing we lack is experience. But that’s coming.” By Warren RappleyeaStaff Writer Scheduling mistake leaves team with just seven home games last_img read more

The Costs of the QM Rule

first_img ability to repay rule CFPB Credit Unions NAFCU qm rule 2017-07-31 Aly J. Yale in Daily Dose, Headlines, Origination Share The Consumer Financial Protection Bureau’s ability-to-repay/qualified mortgage rule is making business difficult for credit unions, according to a letter issued by Ann Kossachev, Regulatory Affairs Counsel for the National Association of Federally-Insured Credit Unions (NAFCU) on Friday. The NAFCU’s members say they are “troubled by the growing cost of mortgage lending” due to the rule.According to Kossachev’s letter, the CFPB’s QM rule has become a financial burden to credit unions—one that’s made it hard to adequately serve American homebuyers.“The rule has forced some credit unions to increase their staff and has constrained their capacity to provide non-conforming loans, which has hurt credit unions’ ability to provide financial services to the underserved populations that need it most,” Kossachev wrote. “The CFPB’s failure to recognize the unique structure of credit unions and tailor regulations accordingly has caused significantly higher compliance costs for credit unions across the country.”According to Kossachev, the rule has even forced some credit unions to cease operation.“In response to the rule, some credit unions have been forced to stop their mortgage operations altogether because they could not afford to take on the significantly higher compliance burden,” she wrote. “Others simply stopped offering non-QM loans or greatly reduced their origination of non-conforming loans.”Kossachev also provided a few suggestions for revising the rule, including making the temporary GSE qualified mortgage category permanent and modifying the debt-to-income threshold.“Now is the time for the CFPB to re-evaluate the logic behind its arbitrary 43 percent DTI threshold,” she wrote. “NAFCU requests the CFPB increase this DTI threshold to at least 45 percent, but preferably 50 percent, to align with Fannie Mae’s new standard and allow credit unions greater flexibility to serve low- and moderate-income individuals.”In the letter, Kossachev also suggests modifying the points and fees system, which is “confusing and unnecessarily complex.”Read the full letter at NAFCU.org.center_img July 31, 2017 562 Views The Costs of the QM Rulelast_img read more