Limerick brothers have no plans to cash in on billion euro…

first_imgPrint BusinessNewsLimerick brothers have no plans to cash in on billion euro firmBy Editor – January 24, 2014 735 WhatsApp Email Patrick and John Collison of StripeLimerick entrepreneurs Patrick and John CollisonLIMERICK brothers Patrick and John Collison have no plans to cash in on the success of their €1.3 billion company and will use a €60 million round of fresh investment raised this week to fund international expansion.From Castletroy and now based in California, the Collisons created Stripe, a low-cost way for small companies to accept online payments, in 2009 and have been steadily building the business since.Sign up for the weekly Limerick Post newsletter Sign Up John (23) and Patrick (25), a former winner of the Young Scientist competition, created an online auction payments company, Auctomatic, which was sold for almost €4 million while they were still in secondary school at Castletroy College.Their latest success story began when they saw how difficult it was for small companies to accept payments from customers online.“We found it really hard in our previous business to accept payment over the internet. It felt like many other people would be having the same problem, so we set about solving it”, explained John.“We started working on Stripe almost two years before it launched publicly. There was a long period where we were writing code to support a small handful of users, and navigating a relatively unfamiliar industry.“We wrote the first lines of code in October 2009. Three months later, we got our first customer. We stayed going, writing code, starting to hire people and trying to find new customers. By the time we launched publicly in September 2011, we had ten people on the team.”Stripe now employs 83 people at its headquarters in San Francisco and the company has become a recognisable name in global ecommerce, with backers such as Paypal founder Peter Thiel and entrepreneur Elon Musk numbered among its investors.Social media giant Twitter is reportedly in discussions with the company over a deal that would allow Twitter enable companies to accept payments on the social media platform.However, Chief executive, Patrick Collison says that they won’t be in a rush to take advantage of the company’s latest valuation.“We’ve no interest in selling the company. John and I are very lucky to work with the people we do on building something for the long term, and we wouldn’t like to change that,” he said.This is also the view of his younger brother who said they were focused on opening international offices and delivering on Stripe’s goal of building an easier way of paying for goods and services online.“It’s still early days for the payment systems that power the internet. It’s outrageously difficult and expensive to move money between countries.“Fraud and storing credentials still cause merchants hassle. So online payments is a great place to go hunting for problems worth solving”, said John. First Irish death from Coronavirus Encourage Wildlife in Castletroy Park Elegant property in Monaleen #LimerickPostProperty Twitter Previous articleNo room at the Mansion House for Limerick manNext article40 jobs from Limerick environmenal firm expansion Editor center_img Shannondoc operating but only by appointment TAGSAutomaticCastletroyElon MuskfeaturedJohn CollisonMusic LimerickPatrick CollisonPeter TheilStripeTwitter Linkedin Advertisement RELATED ARTICLESMORE FROM AUTHOR Facebook Walk in Covid testing available in Limerick from Saturday 10th April No vaccines in Limerick yet last_img read more

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‘Tides Have Changed’ For Fannie Mae, Freddie Mac

first_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News ‘Tides Have Changed’ For Fannie Mae, Freddie Mac Demand Propels Home Prices Upward 2 days ago Previous: Comptroller Joseph Otting to Step Down Next: CFPB Assisting Loss-Mitigation Efforts A report by Bloomberg said while the government took control of Fannie Mae and Freddie Mac during the last downturn, the GSEs are “now at the heart” of the government’s effort to assist homeowners, lenders, and servicers during COVID-19. Anthony Sanders, a finance professor at George Mason University, told Bloomberg, “the private market can’t save us.”“The tides have changed dramatically. Now we realize without Fannie and Freddie, we’d be in a world of hurt, because who else is going to buy these mortgages?” Sanders said. Bloomberg added that government control of the GSEs allowed Congress a tool to provide economic relief quickly, mostly through forbearance plans where borrowers can delay or make reduced payments. Black Knight reported that delinquent mortgages rose by 1.6 million in April—the largest monthly gain ever recorded. The national delinquency rate nearly doubled to 6.45% from March—the largest single-month increase ever recorded—and nearly three times the previous record for a single month from back in late 2008.               “The fact that 70% of the market is federally backed has made this experience far less gruesome than it could have been,” said Julia Gordon, President of the National Community Stabilization Trust to Bloomberg. “As imperfect as it is, we’re still in a better place than we were in 2007.”The Federal Housing Finance Agency (FHFA) announced foreclosure and evictions supported by the GSE will be extended to June 30. Deadlines for all foreclosure and eviction moratoriums were set to expire on May 17. “During this national health emergency, no one should be forced from their home,” said FHFA Director Dr. Mark A. Calabria. “Extending the foreclosure and eviction moratoriums protects homeowners and renters with an Enterprise-backed mortgage and provides certainty for families.”This announcement came shortly after the FHFA announced new payment deferral options for loans backed by Fannie Mae and Freddie Mac. Borrowers now have the ability to repay their missed payments at the time the home is sold, refinanced, or at maturity. Servicers will begin offering deferral payment options beginning July 1, 2020, according to the FHFA.  Tagged with: Fannie Mae FHFA Forbearance Freddie Mac housing market 2020 Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Mike Albanese  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articlescenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae FHFA Forbearance Freddie Mac housing market 2020 2020-05-22 Mike Albanese Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / ‘Tides Have Changed’ For Fannie Mae, Freddie Mac Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily May 22, 2020 3,806 Views Subscribelast_img read more

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Searches carried out in Strabane over dissident republican activity

first_img WhatsApp RELATED ARTICLESMORE FROM AUTHOR Further drop in people receiving PUP in Donegal Google+ Homepage BannerNews WhatsApp Pinterest Twitter Main Evening News, Sport and Obituaries Tuesday May 25th 365 additional cases of Covid-19 in Republic Gardai continue to investigate Kilmacrennan fire Previous articleMan jailed for 10 months after stealing hot water boiler from his own flatNext articleOver one and a half thousand Donegal people have their details hacked on adultery website News Highland center_img Facebook Google+ Pinterest Facebook Searches carried out in Strabane over dissident republican activity Man arrested on suspicion of drugs and criminal property offences in Derry Searches have been carried out in Strabane in relation to dissident republican activity.The searches, conducted by the PSNI were carried out in properties in Townsend Street area last night and this morning.There are no further details at this stage. 75 positive cases of Covid confirmed in North By News Highland – August 22, 2015 Twitterlast_img read more

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Full details of Welsh housing market ‘circuit-breaker’ rules published

first_imgEstate agents have been told the full consequences of the two-week lockdown starting this Friday at 6pm for its ‘circuit-breaker’ Covid fortnight.Due to end on November 9th, the temporary lockdown will effectively close down large swathes of the housing market; non-essential, non-food businesses must close their premises and some visits to properties will be outlawed under the new rules, as will non-essential travel. As in everything Covid, the rules are a patchwork of compromises.The rulesCan home moves take place?Yes, if people can’t delay the moving date until after the short lockdown period is over. Associated activities, for example, removals processes, property preparation, handover of keys, surveys and valuations can also take place in line with guidance on working in other people’s homes.Can home viewings take place?No. Property viewings cannot take place during the circuit breaker period and high street estate agencies are required to close. Virtual viewings can continue.Can a mortgage survey be done at a property?Surveyors should not enter occupied properties during the lockdown period. Vacant properties can be entered and street level surveys can take place.Outside of these rules, no gatherings will be permitted in Wales during the circuit-breaker between people who do not live together, either indoors or outdoors.Protect NHSMaking the announcement, First Minister Mark Drakeford (above) said: “Unless we act the NHS will not be able to look after the increasing number of people who are falling ill due to this deadly virus.“This is the shortest we can make it, but will be sharp and deep.”The First Minister also confirmed that students will be required to lockdown in their student accommodation.  He also revealed an enhanced package of Covid support for businesses including an additional £300 million added to the country’s Economic Resilience Fund.SME businesses including agents will also automatically be given £5,000 if they are required to close – although the Welsh government has yet to confirm if this will include estate agencies.lockdown Mark Drakeford Wales Welsh Government October 19, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » COVID-19 support » Full details of Welsh housing market ‘circuit-breaker’ rules published previous nextCOVID-19 newsFull details of Welsh housing market ‘circuit-breaker’ rules publishedFirst Minister says short, sharp shock will save lives and include bans on gatherings and travel, and closure of most non-food businesses.Nigel Lewis19th October 202008,940 Viewslast_img read more

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