News Scrapbook 1982-1984

san Diego, CA (San Diego Co.) Daily Transcript (Cir. D. 7,415)

FEB 16 1984 Tl.lien's P C. 8 I .,

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"In the 1970s, a very good decade for housing, only about 32 million Americans turned 30." In a news conference prior to his address, Thygerson said Fred- die Mac had $23 billion in secon- dary mortgages in its portfolio last year, all administered by local sav- ings institutions. That was up from He said a recent survey of 750 lending agencies showed 82% now offering adjll8table-rate mortgages, with 50% of all mortgages being issued being of that type. "We have found the adjustable- rate mortgages very popular among the public," Thygerson com- mented. "For one thing, a young couple can qualify euler for that type of mortgage 30-year, fixed-rate mortgage." than for a Thygerson said Freddie Mac on Feb. 1 instituted new one, three and five-year adjUBtable-rate mor- tgages tied to comparable treasury rates. An option is available to ex- ercise a "payment cap" to limit an- nual payment increases to 7 1/2% in the event interest rates escalate more rapidly. The mortgages also may be structured so they may be assumed by a new buyer. He said savings and loan associations were passing about 5% of their home mortgages into secon• dary markets when Freddie Mac about 50% of their mortgages are passed on to the secondary market Thygerson said Freddie Mac is ''committed to assisting the thrift indUBtry's return to viability" and 18 doing so through its guarantor, adjustable-rate mortgage and pur- chase of below-market loans "The financial constraints on thrifts have been lifted," he said. "Price controls are going and will disappear entirely. This corpora- tion

On the Move," said one reason for tremendoll8 growth of the secon- dary home mortgage market - aside from deregulation, increased competition and volatile interest rates - is the simple fact of Freddie Mac's existence. helped to organize a conventional mortgage market by developing "It was Freddie Mac that uniform documents, in cooperation with Fannie Mae, by establishing standards for private mortgage in- surance and by creating nationally accepted underwriting standards where previously only confusion and redundancy had reigned," he developed and introduced in 1971 its mortgage participation cer- tificate. The PC grew to surpass everyone's expectations. As of to- day, we have issued more than $60 "lt was also Freddie Mac that introduced the first collateralized mortgage obligation in June of "This innovative bond-type in- stru.ment totaled $1 billion, sold out in one week and attracted in a big way the Jong-term investors said. "lt was Freddie Mac that billion worth. 1983," he added. classes ofbonds, depending on their investment strategies. They also found that the yield and payback schedules were more predictable than with traditional mortgage- Thygerson noted that there is a "new but thriving private secon- tions such as the Residential Fun- ding Corp., General Electric Mor• tgage Securities Corp. and Sears Mortgage Securities Corp. - now purchasing mortgages larger than the $114,000 congressionally man- dated ceiling for Freddie Mac and "They are good at what they do," he said. "And because the · secondary market is expanding, there are indications others will Thygerson said it is estimated that 42 million U.S. residents will become 30 years of age in this decade. "That is the prime age for backed securities." dary market" - including institu- Fannie Mae. soon be joining them." such as pension funds. "Investors in the CMO found they could choose from three

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ture center with 193 theater-style seats is a gift to the university from the Ed and Mary Fletcher Found&· tion, the Willis and Jane Fletcher Foundation and members of the school welcomed guests ceremonies. Dr Author E. Hughes, university president, gave an in- vocation. Remarks on behalf of the Fletcher family were given by Charles K. "Kim" Fletcher, chair- man of the board of Home Federal Savings & Loan Assn., who serves as a member of the university board and chairs its San Diego Cor· porate Associates program. Thygerson, in his presentation on "Secondary Mo'1gage Market: (Continued on Pa 12AI to the Fletcher family. Dr. Sheldon Krantz of the law

The U.S. government's three agencies financing the secondary home mortgage market - Freddie Mac, Fannie Mae and Ginnie Mae - provided more than $100 billion "That dollar total represents a substantial amount of money flow- homebuyers, back. to housing," Dr. Kenneth J. Thygerson, president of the Federal Home Loan Mortgage Corp. (Freddie Mac) said yesterday at dedication ceremonies for the Ed and Mary Fletcher Lecture Center at the Universit:,:, of San Diego Thygerson, who has headed since 1982 and previously was executive vice pre~ident of Western Federal Sav Freddie Mac in funding last year. mg back. to lenders, back to School of Law.

THE LOS ANGELES DAILY JOURNAL Friday, February 17, 1984

Profile

the facts and evidence are ready to go. And then the defense attorney is presented with all that and you have to represent your cii- ent." During his almost 10 years as a public de- fender, Olson handled juvenile court cases in Long Beach, misdemeanor cases In Long Beach Municipal Court and felony cases in uperlor court. In the year-and-a-half before he was appointed a commissioner, he headed the San Pedro area office of the pub- lic defender's office, supervising a staff of three attorneys and a legal secretary. Work on Homicide Cases Olson recalled representing defendants in a dozen homicide cases, Including one of four sailors accused of beating a man to eath. "Separate trials were ordered and I went lo tnal first," he said. "Without presenting a defense, and just utilizing the facts of the case as the prosecution presented them, I asked the jury to find that my cllent was not guilty of any murder but that he was guilty of something. I struck the verdict of not guilty off the board. I was able to convince the jury that diminished capacity existed in my client's case and the jury, I think, did a good job In agreeing with that and came back with a verdict of voluntary manslaugh- ter." In another case, Olson said he persuaded a superior court judge that his client, an el- derly man who had gotten into a fight with a relative, had not committed murder. The judge reduced the conviction to involuntary manslaughter. "It takes courage to find someone not guilty of homicide," said Olson about the judge "I was obviously delighted in the re- sult and my estimation of the court was en- hanced considerably.'' The commissioner, who prefers to be called "Randy," his wife, Margo, and their three-year-old son live in San Pedro. The couple own a cabin In Big Be, r where Olson "does what I call skiing." - REBECCA KUZINS

Continued from Page 1 usually do, although I might have some qu sttons about certain aspects and have end d up not taking a plea because of that." After almost a decade pent representing hundred· or defendants, Olson adds It is dif- ficult som time· to retain his objectivity. ''The on thing that 1s hard Is to not start telllng everybody 'Well, have you not done this, that, and the other?' It's hard to not want to tart looking Into things and rep- resenting people and trying to tell them what to do and what not to do. I have to hold off on that nd try not to do that," he said Olson wa lected to be a commissioner from a field of 39 applicant . In a press re- lea I ·ued last ovember, Thomas Simp- son, th n-presldlng judge of the Long Beach Munlclp I Court, explained Olson was elected by the judge because his "back• ground, experience, and familiarity with the Long Beach Municipal Court made him an excel I •nt choice." Impson added the judge created a new commls Ion r' position because the state Legl lature in 1982 failed to approve a mea- sure that would have added three judgeships to the court With th appointment of Olson, the court ha seven judges and three com- mis loners Olson said he sought the commissioner's position because "I thought I could do a good job at It. I fell like I could help expedite case quickly. I felt my experience in hand- ling case would give me a good basis to be fair In handling case " Although all of his experience as a public defender ha. been In criminal cases, Olson said he looks forward to tackling small claims and unlawful detainer matters that are a lgned to commissioners in the Long Beach court. "Tho cases may not have a high mone- tary value involved but they're very Impor- tant cases because they touch so many people," he said. "That's the thing about municipal court - it Is the people's court. There's a lot of people who find themselves charged with some minor offense and all of a udden they find that they're In the criminal ju Uce ystem nd It's for a real." Olson, 35, was born in Grand Forks, N.D., and his family moved to the Los Angeles area when he was a year old. The family set- tled In San Pedro In 1959 and Olson grad- uated from high school there. Public Defender's Office He decided he wanted to be an attorney af- ter he graduated from high school. Olson re- ceived his bachelor's degree in political science from the University of California, Santa Barbara in 1970 and his law degree from the Unly~~of San Diego In 1973. He worked as a law clerk In the public defend- er's office In Los Angeles County during the summer of 1972 and became an attorney there after he graduated from law school. "I fell the public defender's office was a good place to be able to help people, espe- cially people that certainly In the public view weren't very popular," said Olson about his reasons for accepting the job. "I as delighted to be given the chance to be able to do that. To represent somebody who's accused and nobody else is too thrilled with Is, I think, an American tradition of helping the underdog. Anyone accused of a crime is an underdog, because the case is usually presented to the prosecutor and all

TIMES-ADVOCATE FEB 2 3 1934

History of social comment on exhibit "The Indignant Artist," an art ex.hibitlon that in· eludes visual expression of artists' protest and so- cial comment from the 17th to the 20th centuries in the form of prints, will open at the University of San Diego Founders Gallery on Feb. 23. Open free of charge to the public through March 27, the 45-work ex.hibilion includes works by such artists as William Hogarth, Thomas Nast, Kathe Kollwitz, Jose Clement Oroaco, Honore Daumier, Ron Cobb, Otoo Dix, William Gropper, Reginald Marsh, Gabor Peterdi and John Sloan. Topics are politics, social change, human rights and anti-war protest. Founders Gallery is open weekdays from noon to 5 p.m. and on Wednesdays from noon to 7 p.m. An opening reception will be held from 7 to 9 p.m., Feb. 22. For information call Professor Therese Whitcomb, gallery director, 291-6480, ext. 4261.

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LA JOLLA LIGHT

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Thursday, February 23. 1984

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Manchester Center at USD to be dedicated The $2.4 million Douglas F . Manchest er Executive Con- ference Cen,er at the University of San Diego will be dedicated Sunday. The conference center is named after La Joll an Manchester, founder of Torrey Enterprises and USD's youngest trustee, who donated the first $500,000 to fund the center, according to USD spokeswoman Sara Finn. The 15,658-sc;uare-foot center contains a 226-seat auditorium, two classrooms, three seminar rooms, offices and a board of trustees room, Finn said. The design is 17th century Spanish Renaissance, matching the rest of the campus, Finn said. Located on the west end of the campus, the conference center will be used primarily by Conti- nuing Education, which is directed by La Jollan Malachi Rafferty, Finn said .

ppointt>d In D cembl'r Olson has been a commi loner Ince Dec. 22. Alter spending almo t two weeks In traf- fic court, he wa a · lgned to handle pretrlals last month. With le than two month on the Job, Olson was reluctant to be Interviewed and expressed concern that he has not had adequate opportunity to prove his ability on the bench De plte hi lack ol experience, attorneys who have appeared before Olson credit the new commI loner with doing a good job. "He' very even-handed and fair,'' said an attorney In the Long Beach city prosecutor's office. "He's very personable In chambers and on the bench and runs a pretty well-con- trolled court. Overall, he's going to be an ex- cellent comm! loner. He's conscientious and hard working." A public defender also pral ed the new comm! loner. "He's extremely patient but still has a fine sen e of humor,'' said the lawyer, who u ed to work with Olson In the public defender's office. "He's not flustered by the high volume of cases he has to handle. He can be stern when he wants to be and give a fa- therly impression on the bench." "He's very dedicated to his Job, just like he was dedicated to his work when he was a publlc defender," the lawyer added. "He wants to do what's best." Making the Tran ltlon Olson enjoys the challenge of his new Job and seems to be having few problems mak- ing the tran tstlon from defense attorney to commissioner. "When I was representing people, I would get the case, I would read the case, would get a brief synop I of th ca from the de- fendant," he said. "l then would have to ex- plain It to the prosecutor II I wa having to negotiate a pl a bargain. And then some- time I'd have to explain It to the judge. By the lime that comes around, the case Is pre- tty well known and sometimes you're very tired of It." "Here, It' just one time that the case Is pr ented to me and I have to decide If I can live with th plea bargain," he continued. "I

The conference center was paid for entirely with private money, Finn said. Other La Jollans mak- ing donations were Mr. and Mrs. Frank D. Alessio, Joan B. Kroc, the William K. Warren Founda- tion, Mr. and Mrs. Richard D. Woltman and The Signal Com- panies, said Finn. She said other individuals and corporations also made donations. The 3 p.m . dedication ceremony will feature Man- chester's 2-year-old daughter Ann Marie cutting the ribbon, the Marine Corps Recruit Depot Band, the USD chorus and the traditional presentation of a sym- bolic key to the building to the uSD Board of Trustees, accor- ding to a news release. Speakers at the dedication will be Dr. Ruben F. Mettler, chair- man of the b"oard of TRW, Inc.; Author E. Hughes, USD presi- dent; Bishop Leo T. Maher, chairman of the USD Board of Trustees, and Manchester. ''The Mancheste( Conference Center symboiizes the link bet- ween the university and the com- munity. It will serve as the setting for top-level conferences and many of the university's com- munity service programs," says the news release.

San Diego, CA (San Diego Co.) Evening Tribune (Cir. D. 123,422)

San Diego, CA (San Diego Co.) Evening Tribune (Cir. D. 123,422)

FEB 2 5 1984

FEB 24 1984

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to give talk Dr. George W. Forell, professor of religion at the University of Iowa, will speak at an interfaith meet- ing at 7 p.m. Friday at Christ Lutheran Church 4761 Cass St. ' Forell also will lecture at 9 a.m. and 1:30 p.m. the next day as part of a seminar on peace, ethics and interper- sonal relationships. Among the workshop leaders will be the Rev. Jo- seph Weiss, San Diego State University Lutheran cam- pus minister, the Rev. Mar- garet Suiter of Reconcilia- tion Lutheran Church, and the Rev. Jack E. Lindquist, professor in the religious studies department at the University of San Diego. ForelI also will preach at the 8:15 a.m. and 10:45 a.m. services and at the 9:30 a.m.. adult forum March 4 at Christ Lutheran. He is the author of "A History of Christian Ethics, Volume 1," "Ethics of Deci- sion" and other books

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i~CT,~~~!!:'".~oth~.. L 1 respons1b1hty for the huge federal budget defi- "I'm calling for all candidates and congress- cit to pledge to not increase the national debt ceil- ing," Mann said. ''There's no need for a bal- anced budget af!lendment because the sa~e re- suit ca~ _be :chieved by a refusal to ra!Se the Sn~mons, a professor of law at USO since IS the cofounder.of UCA~, _the first con- stat!rP!~~~PU~~it~~ta~ pe~m~io: from deb~ ceihng. th ~ Equal Rights Amendment.

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.,v~~mocrats T o Democrats have announced their cand1- dacy for the 41st Congressional District seat now held b~ Rep. Bill Lowery, R-San Diego. Robert Simmons, a University of San Diego law professor, and Norman Mann, an orthodon- 5 Democratic primary for the right to face Lowery In the November general election. Th di~tr_ict Includes a coastal strip extending 10n Beach through Leucadia, plus from M1 Clairemont, Poway, Santee ~nd La Mesa'. Lowery IS In his fourth year m Congress. Simmons, 56 a San Carlos resident, said Tr1bUM n Writer .

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. v1r01:me~tal Protection A!ency and killed the Councilman Mike Gotch; Democratic activists

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Mann said he favors "Manhattan t ects (referring to the Us effort to atomic bomb) to fight c~~cer heart di smoking which Mann said '"kill mo:apeseoanple " :i!:1 ro · pt{ op . He also favors registration of women for mil- 1tary service and believes that price supports for farmers do not make sense since the Us government then turns around and sells its ~x: d Mann, a San Diego Stat~ University area resi- ent, served_for 10 years m the Navy as a com- mander dunng World War II and the Korean than the Russi~ns." ' cess wheat to the Russians.

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LOS ANGELES TIMES

h t and r al estate broker, will run in the June men who talk of a balanced budget amendment

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