Qrius Connect to organise their exclusive travel show MICE CONNECT 2019 in

first_imgQrius Connect announced the MICE CONNECT 2019 Sri Lanka edition, which was scheduled to beheld on May 9 and 10 is now going to be held on July 2 and 3, 2019 at the Hilton, Colombo.The re-scheduling has been considered due to the recent bomb attacks that took place in Sri Lankaon Easter’s Sunday on April 21. We mourn for the victims and pray for their families.Since the incidents, authorities have moved quickly to strengthen the security situation in Colomboand across the country and according to security officials, everything is being done to ensure thesafety of all visitors in the future.“I firmly believe that this show will be utmost beneficial to build and strengthen the relationsbetween the Indian buyers and the hospitality brands from Sri Lanka who will be participating and itwill also be a confidence booster among all the participating sellers and buyers. I wish to urgeeveryone to be united and promote Sri Lanka as a beautiful destination as always. I share theimmense gratitude to our official partners who has been with us as our strength,” said NishantGulliya, Managing Director and CEO, Q’rius Connect, the organisers of the show.“Our first priority at the Hilton Colombo and all our future property’s throughout the country hasalways been the security of our guests. To that end we have instituted immediate additionalmeasures including hand held and walk through scanners at all entrances to the hotel along withbaggage scanners. Much of the security measures we have and are taking have long been in placeacross India,” said Christopher Zappia, Commercial Business Director of Hilton Sri Lanka.“Sri Lanka is an amazing country, with a rich cultural heritage, endless natural beauty that is home toa welcoming, warm and generous people. We hope to be able to quickly move on from the tragicevents of the past few weeks to let people know that Sri Lanka remains a destination that should beat the top of everyone’s itinerary. To that end, we look forward to our partnership with Q’riusConnect in hosting this exciting event,” Zappia added.last_img read more

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TD Bank Hires Retail Lending Sales Director

first_img in Origination, Servicing TD Bank Hires Retail Lending Sales Director In a statement released Wednesday, “”TD Bank””:http://www.tdbank.com/ said it green-lighted Malcom Hollensteiner for a move to serve as the director of retail lending sales.[IMAGE]””As we continue our journey to grow and build the best-in-class lending business, I am proud to welcome Malcolm to the TD family,”” said Michael Copley, EVP for retail lending at “”TD Bank””:http://www.tdbank.com/. “”With nearly two decades of residential mortgage sales management experience, Malcolm brings a wealth of knowledge that’s needed to help us continue building a better bank for our customers.”” According to the statement, Hollensteiner accrued over 19 years of experience in the residential mortgage sales management sector. [COLUMN_BREAK]He previously headed up “”PNC Mortgage””:http://www.pncmortgage.com/ as mid-Atlantic regional manager, beginning his stint in the industry as a loan officer at “”First Washington Mortgage””:http://www.firstwashingtonmortgage.com/.After ascending to a top producer rank in Washington, D.C., he transferred to National City Mortgage, spending 10 years there as head of sales and operatives activities. Hollensteiner holds a Certified Mortgage Banker designation from the “”Mortgage Bankers Association””:http://mbaa.org/default.htm and a bachelor’s degree from “”Harvard””:http://www.harvard.edu/.Signaling a shift in otherwise dismal news about job growth, “”TD Bank””:http://www.tdbank.com/ announced that it planned to hire about 100 residential mortgage specialists from the South to the Northeast, expanding its mortgage services.””Despite tough economic times, “”TD Bank””:http://www.tdbank.com/ continues to provide our customers with opportunities to purchase a home or refinance an existing mortgage,”” said Copley. “”We attribute the success and growth of our mortgage business to the safety and soundness of our bank, hassle-free mortgage products and our high-performing employees who deliver consistent service. We are looking forward to adding more employees to support our continued growth.””According to its Web site, “”TD Bank””:http://www.tdbank.com/ provides over 7.4 million customers with an array of retail, small business, and commercial banking products and services. July 6, 2011 527 Views center_img Lenders & Servicers Movers & Shakers Processing Service Providers 2011-07-06 Ryan Schuette Sharelast_img read more

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Senate Banking Committee Clears Five Obama Nominees

first_img April 2, 2012 443 Views Senate Banking Committee Clears Five Obama Nominees Lawmakers seated on the “”Senate Banking Committee””:http://banking.senate.gov/public/ slated five nominees to head up regulatory agencies for full-chamber votes Friday.[IMAGE]Committee Chairman “”Tim Johnson””:http://www.johnson.senate.gov/public/ (D-South Dakota) led the voice vote that cleared nominees for boards responsible for the “”Federal Reserve System””:http://www.federalreserve.gov/, “”FDIC””:http://www.fdic.gov/, and “”Troubled Asset Relief Program””:http://www.federalreserve.gov/bankinforeg/tarpinfo.htm (TARP), among others.The nominees set for up-or-down votes by the Senate include Jerome Powell and Jeremy Stein for governorships with the Fed; [COLUMN_BREAK]Jeremiah Norton, for a board role with the FDIC; Richard Berner, for directorship of the Office of Financial Research; and Christy Romero, for service as TARP’s next special inspector general.””We need strong leadership in these posts to solidify our nation’s economic recovery and to help prevent another financial crisis,”” Johnson said in a statement. “”I believe that these nominees are well-qualified for the job and I am glad that we have moved them one step closer to confirmation.””He said that he hopes the upper chamber will “”move quickly to consider and confirm”” the nominees, whom he called “”qualified”” and said had the “”support of members in both parties.””Their clearance comes amid continued scrutiny and delays for many Obama administration nominees, notably “”Carol Galante””:http://portal.hud.gov/hudportal/HUD?src=/about/principal_staff/assistant_secretary_galante, who awaits confirmation as commissioner of the “”Federal Housing Administration””:http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory.A political football in any season, the nomination process remains controversial after President “”Barack Obama””:http://www.whitehouse.gov/administration/president-obama signed off on a recess appointment for “”Consumer Financial Protection Bureau””:http://www.consumerfinance.gov/ Director Richard Cordray, bypassing Republican opposition in the Senate.Added Johnson: “”[T]here is no good reason to block their confirmation.”” in Government, Origination, Secondary Market, Servicingcenter_img Agents & Brokers Attorneys & Title Companies Barack Obama Carol Galante Consumer Financial Protection Bureau FDIC Federal Reserve FHA Lenders & Servicers Processing Regulation Richard Cordray Service Providers 2012-04-02 Ryan Schuette Sharelast_img read more

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Analysts Draw Uneven Price Picture for East West Coasts

first_img Agents & Brokers Attorneys & Title Companies Capital Economics Home Prices Home Sales Home Values Investors Lenders & Servicers Processing Service Providers 2013-01-31 Krista Franks Brock Analysts Draw Uneven Price Picture for East, West Coasts in Data, Government, Origination, Secondary Market, Servicing Sharecenter_img January 31, 2013 405 Views “”Capital Economics””:http://www.capitaleconomics.com/ expects home prices to increase about 5 percent over the year at a national level. However, housing markets across the nation are markedly different, and this 5 percent will not be a constant in all regions. [IMAGE]At the two far ends of the spectrum, the Northeast and the West will experience far different market climates this year, according to Capital Economics. The Northeast is much more likely to see no price growth at all than anything close to the 5 percent national average this year, the analytics firm stated in a recent outlook. [COLUMN_BREAK]A potential for an increase in supply is one factor that may keep prices at bay this year. Northeastern states have relatively long foreclosure timelines, and their foreclosure rate as of the third quarter of last year was 5.6 percent. This compares to just 2.7 percent in the West. Capital Economics, therefore, anticipates price increases in the region would lead to increased supply as both lenders and homeowners unload properties onto the market. “”Ironically, these factors will conspire to keep price gains muted in the coming years,”” the firm stated. On the other side of the country, the West has already dealt with much of its foreclosure inventory, and the region is well-positioned for potential economic growth and rising incomes. While housing starts increased 30 percent in the region last year, this growth was not necessarily reflected in the region’s total sales. New home sales made up 15 percent of home sales for the year–making the new construction increase “”unlikely to offset the lack of supply in the existing homes market,”” according to Capital Economics. While the Northeast is likely to experience no price gain this year, the West may experience nearly 10 percent, according to the firm.last_img read more

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Commentary No Virginia There is No Santa Claus

first_imgCommentary: No Virginia, There is No Santa Claus April 19, 2013 470 Views Agents & Brokers Attorneys & Title Companies Bureau of Economic Analysis Census Bureau Existing-Home Sales GDP Homebuilders HUD Investors Lenders & Servicers Mark Lieberman National Association of Realtors Service Providers 2013-04-19 Mark Lieberman What do you do when you find out Santa Claus doesn’t exist?That’s the situation former vice presidential candidate/House Budget Committee Chair/potential presidential candidate Rep. Paul Ryan (R-Wisconsin) faces now that the study which provided him with the academic support for budget cuts (aimed principally at so-called entitlements) has been undermined.[IMAGE]Harvard economists Carmen M. Reinhart and Kenneth Rogoff in 2010 published a research paper which held that for countries with debt loads equivalent to or greater than 90 percent of annual economic output, “”median growth rates fall by 1 percent, and average growth falls considerably more.”” That study gave ammunition to Ryan and company, who used it repeatedly to press for deep deficit-cutting reductions in the federal budget–cuts aimed squarely at Social Security, Medicare and other programs that enjoy high levels of public support, the “”third rail”” of American politics. It would have been next to impossible to win political support for cuts to these programs on the merits–recall the “”keep-your-government-hands-off-my-Medicare”” banners–if deficit-hawk politicians had not been able to cite the findings from Reinhart and Rogoff to bolster their case.Now it turns out, Reinhart and Rogoff were wrong. They stand accused of making a major data error, leaving one country out of their calculations and using “”unconventional weighting of summary statistics,”” according to three economists at the University of Massachusetts at Amherst.Thomas Herndon, Michael Ash and Robert Pollin of UMass-Amherst, tried to replicate the Reinhart-Rogoff results and found some simple miscalculations or data exclusions that changed the ultimate results. When they re-ran the numbers, they found “”the average real G.D.P. growth rate for countries carrying a public debt-to-G.D.P. ratio of over 90 percent is actually 2.2 percent, not -0.1 percent,”” as Reinhart-Rogoff contended. In other words, heavy debt did not cause our economic downturn.What they found specifically was a coding error in the Reinhart-Rogoff analysis that caused the first five countries in the alphabet to be omitted in computing average debt and growth rates. They discovered as well that New Zealand was inexplicably left out of some calculations, and some data elements were inexplicably weighted differently than others.Reinhart and Rogoff admitted the error, sort of. Yes, they said correcting the report for the errors found by Herndon, Ash and Pollin affect the _average_ growth rate, but contended the _median_ growth rate still shows the correct “”order or magnitude,”” supporting their overall thesis.The controversy erupted in the same week in which the International Monetary Fund warned the United States and Great Britain against budget cuts and austerity programs.One of the points at issue is a chicken-egg problem: Do high levels of debt cause slow growth or does slow growth–the response to which is often heavier government spending–cause higher levels of debt?[COLUMN_BREAK]The UMass-Amherst/Harvard feud is big news in economic circles since academic papers rarely receive the attention, say, of Kim Kardashian’s pregnancy or Lindsay Lohan’s latest escapade. The unraveling of the anti-debt argument has some economists wondering how many decisions were forced because of Reinhart-Rogoff. “”The Reinhart and Rogoff paper was not used only to argue for cuts to popular social insurance programs, it was also used to argue against government efforts to boost the economy and create jobs,”” according to Dean Baker, an economist and co-director of the progressive Center for Economic and Policy Research. “”The opponents of these policies argued that efforts to spur the economy would prove to be counterproductive because Reinhart and Rogoff showed us that higher debt levels would mean slower growth.””For their part, Reinhart and Rogoff stand by their work but fall back on a common ploy, suggesting the matter be studied further.””Herndon, Ash and Pollin have written a useful paper, finding a significant mistake in one of our figures, and helped reconcile why one result is out of line with all the other results in our original paper as well as ones presented in our later research, not to mention those they present in their helpful comment,”” Reinhart and Rogoff said in a written response. “”Clearly more research is needed on debt and growth and we welcome all efforts, it is very exciting area. We now have debt data for a larger number of countries than the original sample and long time periods that allows this research to press forward.””What’s next? The Easter Bunny?————————————————–There will be two important housing reports in the coming week:*The “”National Association of Realtors””:http://www.realtor.org/ reports Monday on existing home sales for March after sales increased 0.8 percent in January and February. Indeed, existing home sales, following the same pattern as a year ago, have increased modestly in four of the last five months: up in October and November, down in December, and up again in January and February. The median price pattern is eerily similar to a year ago as well. Prices did not increase from July through October in 2011, and the same happened in July through October 2012. After increasing in November 2011 and November 2012, prices fell in December 2011 and January 2012; they fell in December 2012 and barely edged up–0.4 percent–in January. If the pattern continues, we should see prices increase in March while sales drop, though the consensus forecast of economists suggest sales will improve.*The “”Census Bureau””:http://www.census.gov/ and “”HUD””:http://www.hud.gov/ will report Tuesday on new homes sales (actually contracts for new homes). New home contracts have seesawed in recent months, dropping in October, December, and February but increasing in November and January. Prices, meanwhile, have fallen in three of the last five months.*While not a housing report, the “”Bureau of Economic Analysis””:http://www.bea.gov/ will deliver on Friday the first report on first quarter Gross Domestic Product (GDP), a report complicated by the end of the 2 percent payroll tax holiday in January and the initial sequester cuts which took effect March 1. Nonetheless, the consensus forecast is that GDP rose 3.0 percent in the first quarter, largely due to inventory investment and accumulation. If indeed GDP surges for that reason, it would be poised to slip in the second quarter. Residential investment, with sluggish home sales and lackluster builder confidence, could be a drag on GDP growth._Hear Mark Lieberman on P.O.T.U.S. (Sirius-XM 124) on Friday at 6:20 a.m. Eastern time._*_Want to write an opinion piece for publication on our site? Send your submission to_* “”MReportEditor@TheMReport.com.””:mailto:MReportEditor@TheMReport.comcenter_img in Data, Government Sharelast_img read more

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Private Mortgage Insurers Report September Slowdown

first_imgPrivate Mortgage Insurers Report September Slowdown Mortgage insurance business declined in September following a drop in applications the month prior, according to statistics reported by an industry group.[IMAGE]Member firms of “”Mortgage Insurance Companies of America””:http://www.privatemi.com/index.cfm (MICA) reported a combined 37,501 new mortgage insurance policies issued in September, down from 46,051 in August. Dollar volume for new insurance totaled $9.6 billion, the lowest level since February this year.Still, total business grew, with MICA members reporting a total of $417.3 billion in primary insurance in force as of September 30.September’s decline in new volume reflects a drop in August applications, which fell more than 5,000 from the prior month to 48,038. In September, application volume came to 39,148–again, the lowest since February–signaling more potential declines to begin the fourth quarter.The number of defaults reported by MICA members rose slightly to 20,609 over the month, while the number of cures fell from August to 17,048. The difference brought September’s cure-to-default ratio to 82.7 percent, bringing it down nearly 11 percentage points compared to the last month’s report.MICA’s “”September report””:http://www.privatemi.com/news/statistics/pdfs/september_2013_press_table.pdf drew its data from statistics reported by “”Genworth Mortgage Insurance Corporation””:http://mortgageinsurance.genworth.com/, “”Mortgage Guaranty Insurance Corporation””:http://www.mgic.com/, and “”Radian Guaranty Inc.””:http://www.radian.biz/page?name=HomePage November 1, 2013 422 Views Sharecenter_img in Origination Agents & Brokers Attorneys & Title Companies Cures Defaults Genworth Mortgage Insurance Corp. Investors Lenders & Servicers Mortgage Guaranty Insurance Corp. Mortgage Insurance Mortgage Insurance Companies of America Radian Guaranty Inc. Service Providers 2013-11-01 Tory Barringerlast_img read more

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Fed Appoints New Director for Consumer and Community Affairs

first_img Share June 6, 2014 434 Views The Federal Reserve announced on Friday it has appointed Eric S. Belsky as director of the Division of Consumer and Community Affairs, starting in August.Throughout his career, Belsky has held a number of positions in both the private sector and in academia, including director of housing finance research at Fannie Mae and assistant professor at the University of Massachusetts at Amherst. He also served as research director of the Millennial Housing CommissionCurrently, he is managing director of the Joint Center for Housing Studies at Harvard, where he also works as lecturer in urban planning and design.Stepping into his new role, Belsky will succeed Sandra F. Braunstein, who retired earlier this year after serving nearly 27 years at the Fed, including working for the last decade as director of the division. in Headlines, News, Uncategorizedcenter_img Federal Reserve Movers & Shakers 2014-06-06 Tory Barringer Fed Appoints New Director for Consumer and Community Affairslast_img read more

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Many Borrowers Face Higher Payments When HELOCs Reset

first_img Bankrate HELOC Home Equity Lines of Credit 2015-04-14 Scott_Morgan Here’s the good thing about home equity lines of credit‒‒they give borrowers a low-interest option to borrow and pay as needed, in whatever amounts a situation requires.The bad news is that HELOCs have a short shelf life (typically 10 years), after which the balance is either due in full or the interest rate skyrockets. Any outstanding balance at the 10-year mark converts to the repayment term (known as the reset), where borrowers generally pay the principal and interest over a 20-year period.HELOCs taken out during the pre-crash boom generally were sold as a way to make your house the one of your dreams. But those salad days were 10 years ago and the check is coming due. For ill-prepared borrowers running on tight budgets or still trying to recoup the losses of the recession, those once-golden HELOC terms can be troublesome to say the least.In raw dollars and cents, take this example from Bankrate: A $30,000 balance at 3.25 percent interest (the current prime rate) equals a minimum payment of $81.25. But after the 10-year mark, that balance resets to a 20-year repayment schedule and the minimum due each month bloats to $170.16.Sound like small potatoes? It’s not. Not to the borrower who can’t swing that extra 90 bucks a month. Not when you add it to an existing mortgage or take into account the fact that many borrowers spent way more than $30,000 from their HELOCs.Compounding this is the potential for another recession aftershock. Data indicates the  roughly 3.3 million outstanding HELOCs that exist right now add up to about $158 billion. And just over half of those due to reset over the next four years are attached to homes that are under water.Greg McBride, chief financial analyst at Bankrate, however, doesn’t see the lurking HELOC crisis as a systemic problem. Certainly nowhere near the order of the housing crash, not just for the comparatively small amount but because the resets will be spread out over time. “But that’s of little consolation to the borrower who doesn’t see this coming,” McBride told MReport Tuesday.For that borrower, a HELOC default could trigger a foreclosure, particularly if that borrower has solid equity in the home. “A HELOC is a loan secured by the home,” he said. “These are not obligations you can walk away from.”The good news is that HELOC borrowers have options. McBride told MReport that the best way to avoid trouble is to be proactive. In other words, talk to your lender before the you get into too-deep water. One option is to refinance the first mortgage to include the HELOC while interest rates are still so low. Another is to refinance the HELOC itself. Many lenders, he said, will help borrowers who “get out in front of it, rather than burying their heads in the sand and hoping the problem goes away.”But one last caveat. Refinancing a mortgage or a HELOC is still borrowing with obligation. “You’re really just kicking it down the road,” McBride said. “Sooner or later, you’re going to have to pay it back.” Many Borrowers Face Higher Payments When HELOCs Reset April 14, 2015 524 Views center_img in Daily Dose, Data, Featured, News Sharelast_img read more

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Subprime Lending is Making its Way Back to the Mortgage Market

first_imgSubprime Lending is Making its Way Back to the Mortgage Market in Daily Dose, Data, Headlines, News, Origination Credit Score Equifax Housing Market Mortgage Industry Subprime Lending 2016-01-29 Staff Writer An uptick in housing demand is being met with mortgage originations for borrowers with less than perfect credit scores, but not without caution.Equifax’s National Consumer Credit Trends Report, which provides population-level debt and lending insights from more than 210 million consumers, found that from January to October 2015, first mortgage originations for subprime borrowers, or those with an Equifax Risk Score of 620 or less, have increased significantly since crisis-times.For the first 10 months of 2015, new mortgage origination volume totaled 312,000, bringing the value of these loans to $50.7 billion. This represents an increase of 28 percent in number of first mortgage originations and a 45 percent increase in the total balances compared to last year.Equifax Chief Economist Amy Crews Cutts told MReport that although subprime mortgages are rising, lenders are not originating loans without considering if the borrower will be able to repay the loan.”There is no lender who will do a loan that doesn’t carefully consider the ability to the borrower to carry the debt,” Cutts stated. “Adjustable-rate loans are still around, but they no longer feature the negative amortization feature and interest-only loans are rare. Moreover the capacity underwriting is at the fully amortizing payment and at the maximum rate rather than the teaser rate. One can get a low down payment loan, but the money must come at least in part from borrower assets, not another mortgage loan.”She continued, “While there are many characteristics that define a subprime loan, such as the specific terms of the loan and the lender who issues it, credit standards are becoming more accommodating to meet market demand. At the same time, lenders are focusing more attention on evaluating consumers’ ability to repay. This has led to a much larger reliance on third-party data verifications that enable lenders to more accurately vet subprime borrowers much earlier in the origination process.”The home equity market also experienced an increase in subprime lending, Equifax noted. Subprime home equity installment loans value rose 32.7 percent year-over-year to over $1.4 billion in 2015, while the total credit limits on home equity lines of credit (HELOCS) rose 6.8 percent to a value of $608 billion in 2015.”Home equity installment loans are often more suitable for consumers with credit issues, but the regulatory costs and underwriting burdens have typically made them very expensive for lenders to originate,” Cutts explained. “Conversely, HELOCs are generally more popular among consumers, but less accessible to subprime borrowers. Mortgage insurance is a viable alternative for home equity loans that might be used as piggy-back financing for part of the down payment on the first mortgage and may explain why we are not seeing similar proportionate increases in subprime home equity loans.”Fortunately, if subprime lending continues in the mortgage market, there are provisions in place to prevent substandard loan underwriting.”The unregulated Wild-West atmosphere that came to dominate mortgage lending is long gone. Consumer protections are in place to ensure that borrowers only get approved for mortgages that they can reasonably afford, new licensing requirements exist for mortgage brokers, credit risk cannot be off-loaded onto investors unless the loan meets the Qualified Mortgage requirements, and many other changes affect the lending landscape today,” Cutts noted. “It’s not to say that another financial crisis couldn’t erupt at a future time but the current environment is not conducive to speculative investing and reckless lending like we saw prior to 2008.”Cutts concluded, “Subprime loans fulfill an important niche in our lending markets–whether enabling a refinance that might allow a family to keep the home they have or allowing a family that is finally seeing brighter days reach their dream of homeownership. They are the second-chance loans, but not all borrowers with credit problems should be homeowners at this moment, and good subprime underwriting, like good prime-credit underwriting, should have ensure that borrowers have a high chance of success.”Click here to view the full report.center_img January 29, 2016 629 Views Sharelast_img read more

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Renters May Actually Be Choosers

first_img Conventional wisdom has long suggested that renters rent because they can’t afford to buy homes. But Zillow has posed the question of whether renters are renting out of necessity or choice.Zillow’s latest look into homeownership rates found that almost 14 percent of renters are qualified to buy the median property in their market, based on income and credit rating.Silicon Valley renters are especially in a position to buy, despite living in the nation’s most expensive home ownership area. San Jose, in fact, was the only large market Zillow analyzed where the share of on-market renters with strong credit and high incomes exceeds the share of those with weak credit and low-incomes.In most places, Zillow senior economist Aaron Tarrazas said, were high-earning renters with relatively low credit scores.“This could be the result of several factors, including renters who experienced a temporary loss of income and/or foreclosure during the housing bust, contributing to a weak credit history, or younger adults with strong earnings but short credit histories,” he said.Like the Bay Area, Seattle, Washington, DC, Salt Lake City, and Boston buck that trend. Conversely, few on-market renters could afford to buy in markets like Youngstown, Ohio, Allentown, Pennsylvania and Rochester, New York, the report stated.“Young adults are waiting longer to buy homes as they put off many of the decisions and events that typically accompany homeownership, including getting married and starting families,” Terrazas saidAn evolving economy is also playing a part.“Some locally booming labor markets‒‒driven by tech or, until recently, energy‒‒have attracted well-heeled newcomers who tend to rent before deciding whether to settle permanently,” Terrazas said.In general, he said, markets with lower homeownership rates have higher proportions of on-market renters with both strong credit and high incomes. In some instances, these renters may be shopping simultaneously for both a home to buy or a home to rent, but other factors are in play as well.“Markets with the highest proportions of renters who could likely buy a home also tend to be the markets where for-sale inventory tends to be most constrained,” Terrazas said. Renters May Actually Be Choosers Share August 12, 2016 716 Views center_img Homeownership Renters 2016-08-12 Seth Welborn in Daily Dose, Headlines, Newslast_img read more

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Q4 Report Highlights Progress For Ocwen

first_img Glen Messina Joseph J. Samarias Ocwen Financial Corporation PHH 2019-02-27 Staff Writer Share February 27, 2019 785 Views Q4 Report Highlights Progress For Ocwencenter_img in Daily Dose, Featured, News, Servicing In its latest Q4 report released today, Ocwen Financial Corporation reported a fiscal improvement of $57.2 million, despite a net loss of $70.8 million for 2018 it’s up from a net loss of $128.0 million for 2017.In a statement about the latest report, Glen Messina, CEO Ocwen, said, “We made solid progress in the quarter as we work to realize the scale and cost savings benefits of combining Ocwen and PHH and position the company for future profitability. We are focused on executing our key business initiatives in order to address our most critical near-term business challenges, improve our financial performance, and establish a stronger foundation for the future. We continue with our disciplined and prudent approach to our integration efforts and are encouraged by the overall progress we are making.” The company completed 39,545 loan modifications in 2018 which included 17 percent or $200 million in debt forgiveness. Primarily driven by acquisition of the lower delinquency PHH portfolio and ongoing consumer assistance efforts, delinquencies decreased from 7.8 percent in September 2018, to 4.9 percent in December. The constant prepayment rate decreased from 13.7 percent in the third quarter of 2018 to 12.9 percent in the fourth quarter of 2018. The company also reported that the prime CPR in Q4 2018 was 14.8 percent, and the non-prime CPR was 11.8 percent. For the full year 2018, the company originated forward and reverse mortgage loans with an unpaid principal balance of $0.9 billion and $0.6 billion, respectively, with a mortgage portfolio estimated at $68.1 million in discounted future gains from future draws on existing loans.The company is also optimistically looking ahead, with new leadership roles announced- just a few months after Messina took the reigns. Ocwen announced that June C. Campbell will officially take over as the new CFO on March 4, 2019, in addition, Joseph J. Samarias will assume the role of EVP and General Counsel, effective April 1, 2019.Campbell joins Ocwen from GE Capital, where she held multiple senior management positions in Finance, Capital Markets and Operations during her more than 20-year career at the company.  Messina stated, “I look forward to her being an integral member of our management team to help drive long-term success for Ocwen.” Samarias who has been with the company since 2013 and currently serves as SVP and Deputy General Counsel of Litigation and Government Affairs, and Chief Ethics Officer.last_img read more

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January 24 2019

first_imgJanuary 24 , 2019 Indian table grape exports to Europe are set to ramp up over the next couple of weeks, amid expectations that shipments to the market could increase by up to 10% this season.Cold weather over December and January has led to a slightly later start than the previous season, but overall exporters say it should be a good campaign albeit with some market challenges at the start due to heavy competition.”We have been working in two stages – we are already shipping to Russia and increasing suppliers slowly to the European continent,” said Amit Kalya of Nashik-based Kalya Exports, explaining that low temperatures had limited sugar levels and prevented earlier exports.”Right now we have a good plan for the season. The fruit looks good, everything has been going well in the early stage, and farmers are expecting good volumes. Plus with our new, modern packhouse we are quite confident that our control over the fruit will be better.”Ashok Montiani of Nashik-based Freshtrop said India should enter its peak export period in a couple of weeks, and described the seasons as looking “nothing extraordinary”.”It is like a normal season. There has been good quality generally, the quality of Indian grapes has been improving year-on-year a little bit,” he said.”I think the European market will get what it has been getting over the last two or three years. A 5-10% increase is definitely possible due to the kind of enquiries and demand exporters have received, and other markets should increase at a higher percentage.” You might also be interested in India: Maharashtra grape growers to organize marke … Pravin Sandhan of Monsoon Fresh also said the season has started slowly this year with recent temperatures as low as 4ºC (39ºF) and only as high as 22ºC, but he said that it was not unusual for this time of the year.”We will start exporting in week 4 and by week 6 we will have regular shipments,” he said. “This year we will have a full season until the end, and it should go quite late with similar quantities to last year – maybe 5% higher. The question is how much the European market can take.”He said greater volumes from other supplying countries like Peru – and to a lesser extent South Africa – had led to more challenging conditions in the European market than this time last year, but he hoped that good quality fruit would result in good movement.This was a view echoed by Montiani, who said: “Europe would be lower than last year in terms of pricing, but with the increasing quality of Indian grapes the sales should generally be good.”Kalya said that India typically ramps up volumes to Europe as South Africa is winding down, and he expected a relatively smooth transition this year.He added that Kalya Exports has been shipping to the Chinese market for the last five years, and while it is a low-volume market for Indian grapes, their presence is increasing.”China is a new market for Indian grapes, and India is a new origin for Chinese consumers,” he said. “India is still learning what they actually like.”He added that more Indian grapes were being sold in Chinese supermarkets instead of in wholesale markets.center_img Study finds molecules in oranges, grapes, carrots … Grapes in Charts: Mexico helps make America grape … The calm before the storm: Undersupplied U.S. tabl …last_img read more

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Jupiter Group is expecting a bright citrus season

first_img Jupiter Group is expecting a bright citrus season from its South African production site in Maswiri this year, as the company upgrades its practices and facilities.It says an improved technical structure sees enriched agronomical inputs improve the color, size and quality of lemons, while the “aggressive” process of de-greening on Star Ruby Grapefruit has been minimized.Three weeks into the citrus season, Jupiter South Africa is packing lemons for export and Navel oranges for the local market.Its farm in Zonquasdrift, in the Western Cape, has started picking satsumas this week too. USDA: 2018-19 citrus forecast drops in April, but … It is the last month that these fruits will be packed into the company’s 40-year-old packhouse, affectionately referred to as the “old lady”.In May, work will begin to upgrade the facilities. Jupiter aims to install a brand new Greefa electronic sizer and MED packing line components, which will be ready to pack the farm’s Valencia oranges as early as June.Technical director Cristian Mertzger said: “By the end of the year, the entirety of the old pack house will be gone and we will be in a better position to meet the demand of our markets specifications.”In addition, the group hopes to advance its operations’ efficiency with plans to purchase 10 new John Deere tractors and 10 new spray machines.“It will be great for the team to welcome CEO Mark and his wife Yvonne, a director, to Maswiri to officially inaugurate the new packing line in June,” Mertzger said. April 03 , 2019 You might also be interested inlast_img read more

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My Travel Group MTG agents recently gathered to

first_imgMy Travel Group (MTG) agents recently gathered to celebrate the one year anniversary of the successful launch of the My Travel Group.Key initiatives were presented by David Padman, head of associate, corporate & affiliate networks at Helloworld, including a new partnership incentive model. MTG members also heard from special guest Glenn Cooper AM (Coopers Brewery), Jayson Westbury (AFTA) and sponsors, Helloworld Wholesale, The Intrepid Group and Qantas.MTG continues to grow and today, across Australia and New Zealand, the group has close to 900 members with 45 new members signed up since the launch in April 2016.David Padman (HLO), Maria Tadros Anissa (Tadros Travel) helloworldMy Travel Grouplast_img

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Tasmania was among the big winners at Friday night

first_imgTasmania was among the big winners at Friday night’s Qantas Australian Tourism Awards held at Perth’s Optus Stadium.Tasmanian Walking Co was inducted into National Tourism Hall of Fame, having been awarded gold in the Eco-Tourism category three years in a row, and Saffire Freycinet won gold for best luxury accommodation. Maria Island Walk took home gold in the Tour & Transport Operators category.BIG4 Holiday Park Cervantes in WA was named Best Holiday Park in Australia – Gold; and BIG4 Adventure Whitsunday Resort was awarded Bronze in the Caravan and Holiday Parks category. BIG4 Deniliquin entered the Hall of Fame.CLICK HERE for the Full List of 2017 Australian Tourism Awards Winners Australian Tourism Awardslast_img

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appointmentsEnsemble Travel GroupTrish Shepherd

first_imgappointmentsEnsemble Travel GroupTrish Shepherd Katy Muyt has been appointed as General Manager Australia and New Zealand for the North America-based Ensemble Travel Group, effective immediately.Katy has been with Ensemble Travel Group as Senior Director Sales and Supplier Relations Australia/New Zealand for over three years has 34 years in the industry. She has previously held Senior Management roles within the Travel Franchise Management sector, Aviation and Travel Management Services, including Head of Corporate Development, American Express Franchise Network; General Manager Australia/New Zealand and New Caledonia for Finnair; and General Manager Australia/New Zealand for Qantas Business Travel.Ensemble Travel Group Co President Libbie Rice acknowledged outgoing General Manager Trish Shepherd, and praised her commitment to the organisation over the past four years.“While we are pleased to welcome Katy into this new role, we would also like to thank Trish Shepherd for her dedication at Ensemble. Trish’s knowledge and perseverance have been instrumental in the growing presence of Ensemble Travel Group in Australia.”IMAGE: Katy Muyt, General Manager Australia and New Zealand Ensemble Travel Grouplast_img read more

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Cardinals expect improving Murphy to contribute ri

first_img Cardinals expect improving Murphy to contribute right away Nelson ruled in favor of the player’s union Monday, effectively ending the lockout that restricted players from conducting any NFL business or workouts. The owners filed an appeal shortly afterward, claiming the judge exceeded her jurisdiction. D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ ESPN legal analyst Roger Cossack said NFL owners may have a tough time appealing the Monday ruling to end the lockout because the eighth circuit of appeals would have to decide Judge Susan Nelson’s ruling was completely wrong. “This is one that’s really hard to predict,” Cossack said.“It depends on what panel you get, it depends on if you get somebody who is business friendly, obviously the owners are in a much better position. But remember, the eighth circuit, whether they are business friendly or business unfriendly, they are going to have to make a decision that Judge Nelson’s ruling was totally wrong and that’s usually just a hard thing to do.” Comments   Share   center_img Nevada officials reach out to D-backs on potential relocation What an MLB source said about the D-backs’ trade haul for Greinke Top Stories last_img read more

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Nevada officials reach out to Dbacks on potential

first_img Nevada officials reach out to D-backs on potential relocation Comments   Share   What an MLB source said about the D-backs’ trade haul for Greinke Arizona teams are receiving plenty of respect in ESPN’s tenth annual Ultimate Team Rankings.The ranking system ESPN used is based on a combination of bang for the buck (revenue based), fan relations, ownership, affordability, stadium experience, players, coaching and title track. Despite not having an owner, the Coyotes rank sixth on the list and the best among NHL franchises.Pretty much everything went right for Phoenix this year despite the one thing that controls their fate — new ownership — being more uncertain than ever. Coach Dave Tippett took a ragtag group of role players (the collective age of his two biggest names on offense was 74) and won the team’s first playoff series in 26 years. Top Stories Cardinals expect improving Murphy to contribute right away The Arizona Diamondbacks find themselves tenth overall and second to only the Rangers in the MLB standings. A key reason the Coyotes and Diamondbacks rank as two of the best franchises around is because of their bang for the buck and affordability.Both franchises rank in the top ten of these categories.The Cardinals find themselves a very mediocre 43rd on the list due to having no major strength or glaring weaknesses. The ‘Yotes, D-Backs and Cards all improved at least 20 spots from 2011’s ranking.The average ranking of Arizona teams is 35.75 in this year’s list, but it would be much better if not for the Suns’ poor ranking of 86. The Suns are the only team in the Valley to regress from last year, when they ranked 80th. The poor ownership and title track rankings really hurt the Suns this year, ranking 102nd and 104th in those categories.Most of the discontent centers around owner Robert Sarver. He has long been viewed as a cheapskate who puts dollars ahead of winning, and two playoffs missed since 2010’s surprise run to the Western Conference finals has done him no favors. D-backs president Derrick Hall: Franchise ‘still focused on Arizona’last_img read more

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Former Cardinals kicker Phil Dawson retires

first_img Former Cardinals kicker Phil Dawson retires Top Stories 0 Comments   Share   Derrick Hall satisfied with D-backs’ buying and selling – / 19 Grace expects Greinke trade to have emotional impact Cardinals head coach Ken Whisenhunt was disappointed with what he saw.“That’s something that has to be a focus for us,” he said. “We haven’t had an issue tackling as much. We didn’t tackle well in space and that’s what hurt us.”San Francisco wide receiver Michael Crabtree had his way the entire night, finishing with five receptions for 72 yards and two touchdowns. Most importantly, 49ers receivers gained 107 yards after the catch on Monday. That is their second-most Y.A.C. total in any game over the past five seasons. Crabtree recorded 61 yards after the catch to lead the team and Randy Moss’ one reception for a touchdown was a 47-yard pass, with 41 of those yards coming after several missed tackles.“We can’t miss tackles,” Whisenhunt continued. “I don’t care what way the game goes. There’s probably four plays in there where we’re off the field, especially on third down, they throw a five-yard pass and it turns into a big gain or a first down.“If you want to be a good defense, you gotta tackle.”The Cardinals will have little time to get the tackling problems corrected this week in practice, as they are off Tuesday before returning to the field Wednesday to get ready to hit the road and play a 5-3 Green Bay team at Lambeau Field. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo After nearly every Cardinals game this season, win or lose, the defense has been a bright spot, so much so that the question of whether or not the defense has to win games for the team has been raised.The answer to that question is yes, especially with a Cardinals offense that has struggled the entire year. Monday night on national television, Arizona’s defense had the chance to pick up the slack, but instead they missed tackles and took bad angles throughout the game while allowing a season-high 24 points in the loss.last_img read more

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Grace expects Greinke trade to have emotional impa

first_img Grace expects Greinke trade to have emotional impact But, according to Sports Illustrated’s Peter King, the Cardinals are aware of the potential pitfalls their new player may face and will do all they can to ensure he does not become a problem.The Cardinals, one league source told me earlier Sunday, will randomly drug test Mathieu as often as weekly after he signs his NFL contract — a contract, I’m told, that will not include any guaranteed money. Rather, Mathieu will earn bonus money in the form of roster bonuses, to ensure that the club is protected in the event that he lapses and the team chooses to cut him. If that happens, the Cardinals will be out a prime draft choice, but not any guaranteed money. Last year’s 69th pick, wideout T.J. Graham of the Bills, signed a four-year deal with a $671,000 bonus. For Mathieu to make that money, he’ll have to be a member of the Cardinals in good standing week to week — and clean. The Arizona Cardinals knew they were taking a risk by selecting LSU defensive back Tyrann Mathieu with a third-round pick Friday. A former Heisman Trophy contender, Mathieu did not play football in 2012 as he was kicked off the team due to drug-related issues. However, his talent was too much for the Cardinals to pass up, and they used the 69th pick in the draft to nab a player who offers as much risk as he does reward. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Top Stories 0 Comments   Share   – / 48 Mathieu, who became known as “Honey Badger” during the 2011 season, is viewed as an “impact addition” by Cardinals management. If he can stay on the field, the team will have itself one of the game’s elite play makers, someone who is capable of doing special things with the football in his hands. Derrick Hall satisfied with D-backs’ buying and selling And, with friend and mentor Patrick Peterson already on the roster to help out, there is probably a better chance Mathieu will succeed in the Valley than he would have anywhere else.At least, that’s what the Cardinals are banking on, even if they’re not betting the bank that this will work out.Update: King’s report may not be 100 percent accurate, as it appears Mathieu’s agent is disputing the notion that there will be no guaranteed money for his client. Pat Lawlor, Tyrann Mathieu’s agent, on report of no guaranteed $$: “Ridiculous. Not gonna happen. We had no contract discussion with them”— Ian Rapoport (@RapSheet) April 29, 2013 Former Cardinals kicker Phil Dawson retireslast_img read more

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