Miami Heat’s Bam Adebayo gives single mom free housing for a year
For one single mom, down on her luck, Christmas came early this year. And it’s in the form of a gift that keeps on giving.
How about this tale of generosity? Miami Heat forward Bam Adebayo showed up to the house of Travillia Bogan, a single mother of two sets of twins on the verge of facing eviction, and presented her with a year’s worth of rent. Plus, he’s donating even ore $$$ for some upgrades to the property and lawn.
Truly above and beyond. But, anyone who follows Adebayo’s Instagram knows he does AWESOME stuff like this 
ALL THE TIME. Check out this sequence of him getting bikes and games ready to give away for the holidays,
but wait for the last video at the end, when they hand one mother three stacks of cash! Need another example? After he signed with the Miami Heat for a 5-year $163 million contract extension, he bought his mom a home. Because, of course, mom.
“Adebayo’s motivation to give back stems from his mother, Marilyn Blount,” Adan Conparell writes in Complex Sports. “She instilled a sense of compassion and charity in her son from an early age, reminding him often that even though their means were meager, they were lucky compared to other less fortunate families.”
While she raised Adebayo in North Carolina in a single-wide trailer, Blount endured some of the same struggles as Bogan. It’s natural that Adebayo sympathized with her struggles. But more than that, he is paying his mom’s love and generosity forward.
“My mom is such a giving and loving person so I feel like it was inherited, for real,” says Adebayo. “That’s how she built me to be. That’s how I’m molded. I’ve always wanted to help people and I’ve always wanted to make someone’s life easier.”
🤣 MEME of the day by Maria Gomes 🤣
Have a funny meme? Email your favorite meme here for a chance to be featured in our next Rise&Shred.
CFPB to Seterus: You might be out of business but we’ll still slap you with a big fine!
Who remembers the ill-fated Seterus mortgage servicing company? You know, the one 
mentioned in the Breaking News alert from
yesterday? The IBM mortgage servicing business hit with a proposed class action in Florida last year accusing it of trying to intimidate homeowners into paying delinquent amounts by making false ultimatums to foreclose on their homes.?
The one that sold all MSRs to Mr. Cooper before folding? Ringing any holiday bells?
It was a mightly fall. At its height, Seterus, was based in North Carolina, serviced approximately 500,000 residential mortgage loans. But despite it not being in business, the CFPB still said it has to pay for its indiscretions… well Seterus’s successor in interest, Kyanite Services has to pay.
Yesterday’s CFPB consent order addresses widespread failures in Seterus’s handling and processing of struggling homeowners’ applications for loss mitigation options, which are alternatives to foreclosure made available through their servicer.
The consent order requires Kyanite to pay $4,932,525 in total redress to approximately 11,866 of the consumers to whom Seterus sent a defective acknowledgment notice. The consent order also imposes a $500,000 civil money penalty and includes injunctive relief that would apply in the event Kyanite engages in mortgage servicing.
This is where things get even murkier. Kyanite is headquartered in at least two different states and often does business at Seterus, which makes sense to avoid confusion. But would Kyanite re-engage the Seterus brand to kick off lending and servicing again or is $500,000 too big a gateway? At any rate, back in March as the pandemic began to take hold, a California court cleared the way for Kyanite to start mortgage lending and servicing in the Golden State.
This is one corpse that may see resurrection.
🔥 Where Is Your Office? 🔥Â
With Josh Pitts & SimpleNexus
Real Estate agent reels in Ariana Grande, plus news
—> Congratulations are in order from the mortgage community to the real estate community!
That’s because it was announced yesterday that Ariana Grande is now engaged to Gomez! 
Here’s them all kissy, kissy on Instagram… for those who dig celebrity PDAs. Go on, look, Rise&Shred won’t judge.
—> Provident will issue mortgage bonds with only 15-year mortgages
The transaction is somewhat unique in that it is backed solely by 15-year fixed rate conforming consumer-purpose residential mortgage loans. KBRA analysts note the loans meet qualified mortgage requirements under the ATR rule. In addition to the pool’s unique composition of only 15-year agency collateral, the underlying borrowers on average are of notably high credit quality. PFMT 2020-F1 comprises loans that have the highest WA FICO score as well as the lowest WA original CLTV of any of the more than 400 RMBS 2.0 transactions issued to date. Consequently, KBRA’s model loss expectations are the lowest of any post-crisis transaction it has rated. No loans in the subject collateral pool are in forbearance.
—> First Am: Housing fundamental forces are likely to stay throughout 2021
First American Chief economist Mark Fleming cites 4 reasons housing will stay strong through 2021 in this recent blogpost.
“Strong underlying fundamentals shaped the housing market’s remarkable 2020 comeback story, helping overcome the pandemic-driven spring slowdown and ultimately fueling a record-breaking year,” he writes. “Add a vaccine to the story, and the stage is set for another strong year in 2021.”
However, there is one down note: Credit Conditions.
 “At the height of the pandemic-driven housing market contraction in April, tight credit conditions reduced the potential for existing-home sales by over 900,000 sales relative to a year ago,” Fleming said. “As the uncertainty has subsided, credit conditions have loosened. In November, looser credit conditions increased potential home sales by 54,000 relative to one year ago. What lending standards will look like in 2021 remains unclear and will depend on economic conditions in the coming months.”
—> Ready for your daily Awwwww! moment?
For everyone who’s read all the way to the end of the Rise&Shred, this is your reward. Here’s a short, soundless video of a grandmother boarding a commercial flight only to realize that her own granddaughter is the pilot of the plane!! Watch and be warmed.
Spread the Rise&Shred ❤️ and share with a friend
