Spicers Retreats is proud to announce the acquisition of Peppers Guest House, a boutique property situated in the Hunter Valley, to its expanding portfolio.The property, which is now the largest in the Spicers Retreats portfolio, will open on 18 January as The Guest House.The Guest House is Spicers Retreats fourth property in New South Wales, joining Spicers Sangoma Retreat in the Blue Mountains, Spicers Vineyards Estate, also in the Hunter Valley, and Spicers Victoria Court which is currently being redeveloped and will open in 2017.“We are delighted to expand our offerings in New South Wales and the majestic Hunter Valley,” Spicers Retreats founder Mrs Jude Turner said.“The Guest House will make the perfect sibling to Spicers Vineyards Estate and has all the right characteristics and potential to undergo a Spicers transformation to embody our unique brand of relaxed luxury.”David Assef, Managing Director of Spicers Retreats comments: “The Guest House and Spicers Vineyards Estate will echo the symbiotic relationship between Spicers Clovelly Estate and Spicers Tamarind Retreat on the Sunshine Coast. The experience offered in The Hunter Valley, Australia’s oldest wine region, is truly world class.“With 48 rooms, a six bedroom cottage, three unique conference and event spaces including the perfect set up for weddings, an on-site restaurant, and a swimming pool and tennis court, all set on 40 acres, we will be able to offer the Spicers Retreats experience to even more guests.”Spicers’ unique brand of luxury goes far beyond the bricks and mortar with each and every Spicers team member taking the time to get to know guests and learn their preferences giving them a very personal experience, an ethos which will be continued at The Guest House.David comments, “At Spicers Retreats we pride ourselves on effortless service which is why we have appointed Ryan Dillon, former Front Office Manager of Qualia Resort as General Manager of The Guest House.”“Ryan Dillon brings a wealth of experience and expertise in managing five star properties and his understanding of our brand and commitment to giving guests a truly memorable experience makes him the perfect fit for The Guest House.“He will be joined by Chef Brett Hobson, who will transform the restaurant Chez Pok, with his authentic, seasonal and creative style of Italian food.”Since acquiring the property in 2016, Spicers Retreats has commenced soft internal refurbishments as well as work to the exterior and grounds in order to start the property’s physical transformation, which will involve additional renovations further down the track. Spicers RetreatsSource = Spicers Retreats
Source = Tourism Accommodation Australia Hotel industry disappointed with JetstarHotel industry disappointed with Jetstar’s decision to partner with unregulated accommodation operatorsAustralia’s peak accommodation representative body, Tourism Accommodation Australia (TAA), expressed disappointment that Jetstar had entered into a partnership agreement with unregulated short-term accommodation provider, Airbnb.“Hotels, motels and serviced accommodation operators have been great supporters of Jetstar since it launched in Australia and we actively partner with them in providing holiday packages as well as accommodation for their crews, so it is disappointing that they would sign with an unregulated short-term accommodation operator such as Airbnb,” said TAA CEO, Carol Giuseppi.“While we have no issues with genuine ‘sharing’, the sector has become increasingly dominated by commercial operators with multiple properties that involve no sharing. They contribute little to taxes or jobs, and bypass many health, safety and development regulations.“That’s why so many cities around the world are moving towards greater regulation of accommodation listings with Airbnb. In many states up to one third of these listings are operating in the commercial space without meeting the same regulatory requirements that hotels, motels and serviced apartments have to meet.”
TAT hosts Discover Amazing Thai TasteTAT hosts Discover Amazing Thai TasteThe Tourism Authority of Thailand (TAT) recently organised a “Discover Amazing Thai Taste with Celebrity Chef” culinary journey, hosting Michelin Star Chef Roger van Damme to explore Thai gastronomy experiences in Chiang Mai, Chiang Rai and Bangkok.Chef Roger van Damme is also the World’s Best Pastry Chef 2017. His journey in Thailand, from 25 February to 7 March, this year, was also filmed for Belgium’s regional television broadcaster ATV’s ‘Culinair Avontuur in Thailand’ show.During the trip, Chef Roger van Damme tried his hand at cooking several Thai dishes and desserts; such as, Khao Soi (curried noodles), Krathong Thong (crispy golden pastry cups filled with minced pork and sweet corn), Khao Niao Mamuang (sweetened sticky rice with ripe mango), and Khanom Krok (Thai coconut pudding). He also learned how local Northern Thai snacks, including Khap Mu (crispy pork rind) and Khao Tan (crispy rice cracker) are made.Northern Thailand is famous for unique agricultural methods and its cold climate crops, and Chef Roger had the chance to learn about rice farming in Chiang Mai, tea planting in Chiang Rai, and fruits and vegetables farming at high elevations.Source = Tourism Authority of Thailand (TAT)
voco Gold Coast deluxe room;IHG opens first voco hotel in the heart of Surfers ParadiseThe Mayor of the Gold Coast, Tom Tate and CEO of Destination Gold Coast, Annaliese Battista were among the dignitaries that officially opened voco Gold Coast at a packed ribbon cutting ceremony at the hotel this morning.The opening of voco Gold Coast represents IHG’s (InterContinental Hotels Group) first hotel globally for its new upscale hotel brand: voco™, just five months after it was launched. Owned by Australian property investment firm SB&G Group and located on the shores of the Gold Coast, voco™ Gold Coast is now open for guests to soak up the sun, sand and sea in Australia’s beloved Surfers Paradise.voco™, inspired by the meaning ‘to invite’ or to ‘come together’ in Latin, will combine the informality and charm of an individual hotel, with the quality and reassurance of a global and respected brand. The public spaces of voco™ Gold Coast emphasise this social element, fittingly named Social House Café, which collectively houses a bar and lounge within the venue, offering a space for everyone.With 389 rooms, the property is situated in the heart of Australia’s iconic Surfers Paradise precinct and steps away from Queensland’s famous beaches. The hotel offers all the features that guests can expect from the upscale voco™ brand including two swimming pools, gym facilities, L’Aqua Day Spa, 800sqm of meeting space and expansive views of both the ocean and hinterland. Multiple dining options are also available in the hotel’s three unique restaurants – Waves, Clifford’s Grill & Lounge and Social House – all designed to offer vibrant social experiences for voco™ guests to enjoy.voco™ Gold Coast also offers several exclusive features that sets it apart from existing hotels, starting with their onsite beehives, producing honey for various uses throughout the hotel. The strong sustainability focus also promises refillable dispensers for products such as soap, along with a high-end Aveda amenity and an initiative with Gold Coast City Council to ensure all kitchen waste is recycled.The voco™ Gold Coast signing was announced by IHG and owners SB&G Group in June 2018, coinciding with the global launch of the voco™ brand. With six signings to date, in addition to the four properties that will rebrand as part of the UK portfolio deal, there are expected to be more than fifteen signings in total for the brand by the end of 2018. These include three signings in Australia, in Victoria’s wine region, Yarra Valley and in the heart of Melbourne’s bustling CBD as well as a number of properties in the UK. The opening of voco™ Gold Coast will be quickly followed by hotel openings in Solihull and Cardiff in the UK.Paul Salter, SB&G Group Managing Director, said: “We are proud to be the first owner of a voco™ branded hotel in the world and to have worked closely with IHG to bring this new brand and service culture to the Gold Coast, making the high-quality refurbishment a reality in only 5 months.”Brenden van Blerk, voco™ Gold Coast General Manager, said: “As one of Australia’s all-time favourite holiday destinations, we are very excited to be introducing the voco™ brand across the much-loved Gold Coast. Quintessentially Australian, the Gold Coast offers travellers the ultimate getaway with warm weather, amazing beaches and several great ways to have fun. This perfectly aligns with the new voco™ hotel – a fun, spirited, upscale offering.”Kenneth Macpherson, CEO EMEAA, IHG, said: “IHG launched the voco™ brand in June in Australia, we are so pleased to see the brand’s momentum continue here with the first opening in the iconic Gold Coast with long standing partner, SB&G Group. voco™ delivers a guest experience that stands out, with touches of charm and memorable, distinctive and dependable hallmarks.”To tap into the excitement of the Gold Coast and embrace the playfulness of the voco™ brand, the new hotel offers a calendar of social events held within their street facing public spaces from a daily high tea experience to weekly trivia nights, among many others.This distinctive brand will offer owners the ability to drive higher returns through delivering a compelling guest experience and leveraging IHG’s powerful systems. This includes best-in-class revenue management and technology capabilities as well as IHG® Rewards Club, one of the world’s largest hotel loyalty programmes.IHG currently has 48 hotels operating under four brands in Australasia, including: InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express, with another 22 in the pipeline, including Hotel Indigo, EVEN Hotels and voco.To celebrate the launch of voco™ globally, IHG Rewards Club is offering 10,000 Bonus Point Packages at our new voco™ hotels around the world for stays between November 2018 and February 2019. Additionally, members can enjoy 50% off Reward Night redemptions at our new voco™ hotels. Terms & Conditions apply, please visit vocohotels.com for more information. Source = InterContinental Hotels Group
Dynotag, the smart tag provider has recently unveiled Protagz line that helps in tracking large luggage items. Any number of the various tags will go a long way to ensuring your valuable items have an extra bit of security in the form of backend technology that will allow you to pair the luggage with various crucial information stored on the company’s cloud service.Protagz are larger cards, about the size of a postcard, that get fastened to anything that might be of a grander variety: video equipment, golf clubs, surfboard cases or any other equipment that you absolutely need for that leisure or business trip.CEO, Murat Divringi explains, “The addition of Protagz to the Dynotag series makes it so we are supplying the most comprehensive selection of consumer smart tags for a variety of real world needs. We want to form a trusting relationship with our users, so they feel comfortable using Dynotag Smart Tags in all facets of their daily lives.”Dynotag explains that you can set up a website for your item that may contain myriad detail like receipts, records or anything you might consider useful for your large luggage piece. This makes it far easier for anyone who finds your Protagz to find the previously depressed party who lost such a fine piece of equipment. The technology will cost the consumer less than $20.
In light of the growing demand for Israel as a tourist destination, the country is set to greet the latest initiatives to further boost outbound travel from India.With an average load factor exceeding 80% and the increased demand on Air India’s New Delhi-Tel Aviv flight services, the national carrier has confirmed an increase in frequency on this sector, adding a fifth weekly flight, which started on November 26. The airline will now fly five days a week including Monday in addition to Tuesday, Thursday, Saturday and Sunday on the 256-seater Boeing 787 Dreamliner. The aircraft departs from New Delhi at 16.50 pm and arrives in Tel Aviv at 20.45 pm (local time). On its return leg, the flight departs from Tel Aviv at 22.15 pm and lands in New Delhi the next day at 8.15 am.In addition to Air India’s announcement, Israeli carrier El Al has introduced a new Boeing 777-200ER aircraft on its Mumbai-Tel Aviv route. The new aeroplane has a capacity of 279 seats in a four-class configuration of First, Business, Economy Plus and Economy and will cater to the rising demand from India.El Al is the only airline currently servicing the direct Mumbai-Tel Aviv sector with three weekly non-stop flights. The aircraft departs at 12.20 pm every Sunday, Monday and Thursday from Mumbai and arrives in Tel Aviv at 16.50 pm (local time). On its return leg, the plane departs from Tel Aviv at 20.15 pm every Saturday and Sunday to land in Mumbai the next day at 7.30 am. On Thursdays, the flight takes off at 8.30 am from Tel Aviv to reach Mumbai at 19.45 pm.These announcements have come at a time when Israel Ministry of Tourism has recorded a growth of 58% with 48,800 Indian arrivals to the country from January to September 2018 vis-à-vis 30,800 Indian visitors during the same period in 2016.
Though the economy in Colorado is among the best of any state in the country, the housing market recovery in the state has been slow, according to a special commentary released by Wells Fargo’s Economics Group. The commentary indicates that there is cause to believe the outlook for the housing market in Colorado is bright, however.Colorado’s unemployment rate dropped to 5.3 percent in July, and the state’s real gross domestic product (GDP) grew at a rate of two points faster than the national average in 2013. The construction industry reported an increase of 5.9 percent rise in payrolls due to more homebuilding to accommodate the state’s rapidly growing population, Wells Fargo reported.Where housing recovery is concerned, however, Colorado’s struggles mirror those of the country as a whole, according to Wells Fargo.Year-to-date home sales are down 1.8 percent from last year in Colorado, while single family sales have declined 6.2 percent from a year ago. The decreased home sales in 2014 come following a surge in 2013, which saw single-family home sales jump up by 14.6 percent. A possible contributing factor to the weaker sales was a lack of inventory, with new home listings falling in 2014.Wells Fargo reported that the outlook for the housing market in Colorado looks promising despite the decline in single-family home sales. Multifamily home sales were up 17.4 percent after large gains last year. The number of residential construction permits for both single and multifamily units has increased along with the rise in the number of construction jobs, which makes Colorado an outlier from the national trend.Home prices have increased by 7.9 percent over last year and are above their pre-recession peak, which has contributed to keeping the negative equity rate in Colorado 5 percentage points below the national average. The growing demand for vacation homes in Colorado has been a contributing factor in the rising home costs. August 28, 2014 452 Views Share GDP Home Prices Home Sales Jobs Wells Fargo 2014-08-28 Seth Welborn in Daily Dose, Data, Headlines, News Despite Struggles, High Hopes for Colorado’s Housing
January 14, 2015 468 Views LenderLive Network Movers & Shakers 2015-01-14 Tory Barringer in Headlines, News As part of a push to expand its growing operation, LenderLive Network has named Mark Hughes to serve as president of its Due Diligence Division.Hughes’ resume includes leadership posts in due diligence operations at several of the country’s top property and data firms. Before coming to LenderLive in April 2014, he headed up CoreLogic’s Due Diligence Solutions group. Prior to that, he had served as president and COO of the Bohan Group, a leading due diligence company.Since joining LenderLive as SVP last year, Hughes has worked to help grow the firm’s third-party review business and expand its offerings to investors, banks, mortgage companies, and credit unions.”Growing our Due Diligence business is one of our top priorities for 2015, and with the backing of our new investor, we will be adding new resources and technology to accelerate this goal and to develop new solutions for RMBS issuers, conduits and lenders,” said Rick Seehausen, CEO of LenderLive. “Over the past year, Mark has proven himself invaluable at LenderLive and I’m confident he will continue to be instrumental as we expand our Due Diligence Division.” LenderLive Appoints President for Due Diligence Division Share
in Daily Dose, Featured, Government, Origination March 10, 2015 514 Views The Federal Reserve is considering dropping its promise to be “patient” in raising interest rates, according to an article by the Wall Street Journal. Discussions on whether to hike rates will likely be an important topic at the Fed’s next meeting March 17-18. On Tuesday, Fed officials began their self-imposed pre-meeting blackout period, in which they stop making public comments on the economy or policy.“If economic conditions continue to improve, as the [Fed] anticipates, [it] will at some point begin considering an increase in the target range for the federal funds rate on a meeting-by-meeting basis,” Fed Chairwoman Janet Yellen said in congressional testimony last month. “Before then, the [Fed] will change its forward guidance.”In recent interviews, the Fed has made it clear they want to move away from the pledge to be patient. They have held their benchmark short-term rate, the federal funds rate, near zero since December 2008. The lackluster housing market was concern on Yellen’s mind when she gave the speech emphasizing the patience pledge.The housing market of 2014 was better than it had been in years, with a low number of homes entering foreclosure, favorable mortgage rates, and more affordable housing options available to consumers. The impact of a mortgage rate hike really depends on the kind of financing the consumer has, whether the mortgage has a fixed or adjustable rate, and what the loan is tied to.Thirty-year fixed-rate mortgages are typically tied to the yield on 10-year treasury bonds, and rates on adjustable rate mortgages (ARMs) are tied to the federal funds rate. The average 30-year fixed mortgage rate fluctuated between 4 percent and 4.5 percent for most of 2014.Higher rates could have an effect on housing market trends and could greatly influence what consumers can afford. At the current rate a $220,000 home would cost a homeowner $980 a month. That monthly price could increase to $1,200 if the rate is raised to 6 percent. Fed Considers Removing ‘Patient’ Pledge on Raising Interest Rates Interest rates Janet Yellen the fed 2015-03-10 Samantha Guzman Share
Federal Deposit Insurance Corp JPMorgan Chase Mortgage-Backed Securities 2015-06-04 Seth Welborn in Daily Dose, Featured, Government, News, Servicing A federal judge has ruled that the Federal Deposit Insurance Corp., is liable for facing certain legal claims that FDIC-insured JPMorgan Chase inherited from its 2008 acquisition of Washington Mutual, according to media reports.JPMorgan acquired the failing Seattle-based bank for $1.88 billion in 2008 during the onset of the financial crisis, after the Office of Thrift Supervision seized Washington Mutual and appointed the FDIC as receiver. With the ruling, Judge Rosemary Collyer in the U.S. District Court for the District of Columbia settled a long-standing dispute over who is liable for facing the claims – JPMorgan has contended that the FDIC should be responsible because of its receivership of Washington Mutual, and the FDIC has countered that JPMorgan should pick up the bill because of its acquisition of Washington Mutual.The lawsuit that is central to the case was filed in 2009 by Deutsche Bank against both the FDIC and JPMorgan Chase for $10 billion, claiming that Washington Mutual misrepresented the quality of mortgage-backed securities it issued, causing massive losses for investors. The FDIC claimed that JPMorgan should be responsible for Washington Mutual’s liabilities, which JPMorgan denied, according to reports.Collyer ruled that the FDIC receivership is responsible for the Deutsche Bank lawsuit because it was filed after the FDIC seized Washington Mutual in September 2008. Collyer said that only liabilities that were on Washington Mutual’s books as of September 25, 2008, were JPMorgan’s responsibility.”We are pleased with the judge’s decision,” said Jason Lobo, a spokesman for JPMorgan Chase. A spokesman from the FDIC told DS News that the Corporation does not comment on active litigation.JPMorgan Chase has been penalized handily by the government for its mortgage servicing practices in the years since the crisis. In February 2012, the bank was one of five financial institutions to settle with the Department of Justice, 49 states, and the District of Columbia for $25 billion over alleged mortgage loan servicing violations and foreclosure abuses. In November 2013, JPMorgan agreed to a then-record $13 billion settlement with the DOJ for misrepresenting the quality of mortgage-backed securities to investors. Collyer’s ruling does not affect either one of these penalties paid out by JPMorgan. June 4, 2015 580 Views JPMorgan Chase Not Responsible For WaMu’s Pre-September 2008 Liabilities, Judge Rules Share
Share Mortgage software solutions provider CalyxSoftware has announced that the speaker lineup for its ASCEND16 mortgage industry symposium and user conference will include representatives from the Consumer Financial Protection Bureau, Fannie Mae, Freddie Mac, and the Mortgage Bankers Association.ASCEND16 will take place at the Hyatt Regency New Orleans on October 5 through 8.Topics the speakers will address at ASCEND16 will include changes in TRID and HMDA rules, the new 1003 forms, and strategies to prevent buybacks, improve compliance and promote business growth. The conference will feature more than 20 specialized breakout sessions for Point, PointCentral, PathSoftware, and LoanScoreCard customers and prospects.ASCEND16 will include an in-depth training track on such topics as developing business rules for TRID compliance, operating in a paperless environment, mastering fees worksheets and closing cost scenario templates, advancing your business with Point marketing, and closing disclosure essentials.“Over the past few years, brokers and lenders have been overwhelmed trying to comply with the onslaught of new regulations. With more changes to HMDA, TRID and the URLA announced this year alone, it looks like compliance will continue to be a priority,” said Dennis Boggs, executive vice president, CalyxSoftware. “The sessions at ASCEND16 are designed to help our customers and prospects better understand and implement these changes effectively and efficiently so they can focus on innovating and building their businesses instead.”Scheduled speakers at ASCEND16 include:Courtney Jean, Attorney-Adviser, Office of Regulations at CFPB, and Jaclyn Maier, Attorney-Adviser, Office of Regulations at CFPBSusan Roma, Director Industry Partner Solutions at Fannie Mae, and David Fulford, Director of Technology Integration at Freddie MacRick Hill, Vice President of Industry Technology, MBAFrank Nothaft, Senior Vice President and Chief Economist, CoreLogicDouglas Foster, Director of Regulatory Affairs, Polunsky Beitel Green LLPThomas Morgan, Mortgage Banking Consulting, MortgageManuals.comClick here to view the complete agenda for ASCEND16. CalyxSoftware ASCEND16 Conference to Include Top Regulators and Agencies ASCEND16 CalyxSoftware 2016-09-28 Seth Welborn September 28, 2016 645 Views in Headlines, News, Technology
December 12, 2016 531 Views House Votes to Lighten Regulatory Load for Banks The new administration has promised reduced regulation for the financial industry, and they began moving toward that goal by voting to amend a section of Dodd-Frank. The U.S. House of Representatives passed H.R. 6392, the Systemic Risk Designation Improvement Act of 2016, by a vote of 254 to 161, earlier this month. The bill is now in the U.S. Senate for consideration.H.R. 6392 would change the way that Dodd-Frank determines that bank holding companies (BHCs) should be subject to enhanced supervision and prudential standards by the Federal Reserve if the BHCs experience material financial distress that could threaten the stability of the entire U.S financial system, i.e. too big to fail. The current process makes BHCs with $50 billion or more in consolidated assets automatically subject to the enhanced supervision and prudential standards from the Fed; H.R. 6392 calls for the Financial Stability Oversight Council (FSOC), an agency created by Dodd-Frank, to evaluate BHCs for heightened oversight by using “an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance, which considers each bank holding company’s size, interconnectedness, available substitutes, global cross-jurisdictional activity, and complexity.”The bill was introduced into the House on November 22 by Rep. Blaine Luetkemeyer (R-Missouri), who is the Chairman of the Housing and Insurance Subcommittee of the House Financial Services Committee.“The House passed legislation that would protect U.S. taxpayers from actual risk posed to the financial system. Decisions on what institutions are deemed systemically important should be based not on size alone, but also on activity and other factors that actually demonstrate systemic risk,” Luetkemeyer said. “The bottom line is that the current SIFI (systemically important financial institution) designation process is arbitrary and subjects banks with $50 billion or more in assets to the same standards as trillion dollar global SIFIs. This should not be a one-size-fits-all mold.”The vote wasn’t strictly along party lines, like nearly all bills previously introduced to amend parts of Dodd-Frank—though all 161 nay votes were Democrats, 20 Democrats still voted in favor of the bill along with 234 Republicans.One Representative who voted nay on H.R. 6392 was Maxine Waters (D-California), who was recently re-elected to a second term as Ranking Member of the House Financial Services Committee.“H.R. 6392 would repeal Dodd-Frank’s $50 billion threshold, above which banks are subject to closer regulatory scrutiny, and prevent the Federal Reserve Board from regulating these banks,” Waters said. “Instead, it would hand over that responsibility to the Financial Stability Oversight Council, or FSOC. In order to regulate the banks, the FSOC would have to go through a byzantine and litigious process of designation, which takes two to four years to complete. Even if a potential Treasury Secretary [Steven] Mnuchin decided to regulate his former employer, by the time he got around to it, the damage would likely already be done.”Click here for an overview of H.R. 6392.Click here to view the complete voting results for the bill. in Daily Dose, Data, Headlines, News Blaine Luetkemeyer Dodd-Frank Financial Stability Oversight Council 2016-12-12 Seth Welborn Share
According to a recent Bloomberg article by Prashant Gopal, millennials are being pushed out of the housing market because Baby Boomers just wont sell—and this is causing issues between the two biggest generations in history.Fifty-three percent of U.S. owner occupied housing is currently taken up by people ages 55 and older, which is up from 43 percent since 2007. Millennials from 18 to 34 only make up 11 percent of the share. To put that in perspective, baby boomers inhabited almost double that amount when they were in the 18 to 34 bracket.Apparently, a big factor to this issue is public policy. According to Bloomberg, longer standing residents get property tax exemptions that keep them from moving. Additionally, zoning rules are keeping contractors from building apartments that are attractive to Baby Boomers or senior living facilities in other parts of town.“The system is gridlocked,” Dowell Myers, Professor of Urban Planning and Demography at the University of Southern California told Bloomberg. “The seniors aren’t turning over homes as fast as they used to, so there are very few existing homes coming online. To turn it over, they’ll have to have a landing place.”One looker in North Philadelphia has tried to find a home for over a year, but with no luck, has started to “cold call” in nearby neighborhoods. He has tried sheriff’s sales, bidding wars, and left many notes in people’s mailboxes. However, in these neighborhoods, people don’t want to budge unless there’s at least 7 digits sign next to the dollar sign.“It’s inevitable for me to be perceived as an outsider,” 23-year-old Jake Yanoviak said to Bloomberg. “But I’m not trying to change the community. I’m trying to contribute in positive ways and be a neighbor.”To find out more about Yanoviak and the current market, click here. August 8, 2017 711 Views Baby Boomers housing shortage Millennials 2017-08-08 Brianna Gilpin in Daily Dose, Data, Featured, News Boomers Won’t Budge Share
December 5, 2018 2,045 Views in Daily Dose, Featured, News, Origination Share Nonbanks tend to lend more to LMI borrowers than banks that fall under the CRA regulations, according to an analysis by the Urban Institute. The analysis was meant to help the Office of the Comptroller of Currency (OCC) strengthen its changes in regulations to the Community Reinvestment Act (CRA) proposed earlier this year and has been submitted as part of its Advanced Notice of Proposed Rulemaking (ANPR) on modernizing the CRA’s regulatory framework.The Urban Institute, with support from the National Association of Affordable Housing Lenders, analyzed data on both single-family and multifamily CRA lending as part of their comments to the ANPR rulemaking record. The analysis was designed around answering questions on the behavior of institutions subject to CRA versus those that don’t come under this act (nonbank originators and credit unions); the difference in behavior between small and large banks; the importance of banks to the communities they served as well as low- and moderate-income (LMI) borrowers in those communities; and the relative importance of small business, small farm, and community development lending through the CRA.For the analysis, the researchers used 2016 Home Mortgage Disclosure Act (HMDA) data and CRA files from the Federal Financial Institutions Examination Council.The analysis revealed that though nonbanks were not subject to CRA, they did a larger share of one-to-four-family mortgage lending to LMI borrowers than the banks, who were subject to the CRA, reflecting a wider credit box for nonbank originators. “Nonbanks do the overwhelming amount of Federal Housing Administration (FHA) lending, which disproportionately encompasses lending to LMI borrowers,” the analysis revealed.However, it said that banks made 72 percent of their one-to-four-family mortgage lending in their assessment areas, even though the percentage varied according to the size of the institution, with larger banks making a larger share of lending than midsize or small institutions. Despite this, the largest banks did lesser CRA-eligible one-to-four-family lending as a share of total lending in their assessment areas compared to midsize or smaller institutions.A higher proportion of multifamily lending was made out to LMI borrowers with a greater share of loans made out to multifamily units rather than single-family ones in banks’ assessment areas, making multifamily lending a heavier contributor to meeting CRA standards than lending volumes alone would indicate, the analysis said.To read the detailed analysis, click here. Analyzing Lending Practices Under CRA Borrowers CRA HMDA homes HOUSING Lenders Lending LMI mortgage OCC Urban Institute 2018-12-05 Radhika Ojha
electronic devices travel banSCTItravel insurance Following the news regarding UK and USA governments banning electronic devices and electrical items from hand luggage, Southern Cross Travel Insurance has announced it will make an exception to the terms and conditions of the TravelCare policy.From 30 March 2017, the TravelCare policy will offer provision of cover for electronic devices that are lost, stolen or damaged during the journey while in checked luggage for those directly affected by the Electronic Device Ban. Proof of ownership and value for the item, confirmation from the airline of the loss/damage and what compensation, if any, has been provided, will be required with any claim.Craig Morrison, CEO of Southern Cross Travel Insurance said, “We understand that the travel industry is always evolving and changing. We will always look to review, reassess and reconsider our travel policies to ensure they fit the needs of our customers.”Tips when travelling with electronicsKeep a note of what you’ve packed in your checked luggage – ideally take a pictureTry and keep an eye on bags as they go down the conveyer belt and be mindful of any signs of tampering e.g. broken handles or zipBe kind to electronic devices and give them proper padding. Use clothes to cushion the impact should they be jostled aroundEnsure there is a lock on luggage –a combination lock ensures only you have access to itBack up any important information before travelling abroad to ensure you don’t lose out on any important memories or documents.
The Australian arm of Allianz Global Assistance has formally become part of Allianz Worldwide Partners (AWP), a B2B2C member of the Allianz Group, created in 2014. Allianz Worldwide Partners combines Allianz Global Automotive, Allianz Global Assistance and Allianz Worldwide Care, and connects the three household brands under one global organisation. With the migration of the Australian arm of Allianz Global Assistance, AWP aims to achieve a wider global network, become the ‘House of Partner Experience’ and tap into global technology systems to predict trends before they hit the Australian market. “By uniting three of Allianz’s leading subsidiaries under one organisation, Allianz Worldwide Partners (AWP) will streamline the capabilities of the business and provide us with opportunities to invest in global and customer-centric services to deliver a stronger partner focus moving forward. Our modular, value-added solutions are the result of our customer-centric approach,” said Craig Dalzell, CEO of Allianz Worldwide Partners. “Globally, we helped over 40 million Australian customers last year – equivalent to one customer every thirty seconds. This year, we are committed to accompanying and supporting our business partners with solutions that protect and care for their customers and employees worldwide. This will be achieved by maintaining our position as the leader of assistance services and increasing our offering in the healthcare, lifecare, cyber assistance, mobile device and digital risk space.” Allianzinsurance
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What an MLB source said about the D-backs’ trade haul for Greinke Hall of Fame quarterback Warren Moon caused a little bit of a controversy earlier in the week when he claimed that race is playing a factor in why people are picking apart Cam Newton prior to the draft.Moon set the record straight on Friday morning making it clear — kind of — that he doesn’t feel it’s totally a racist situation.“I just think it has racial overtones,” he told Sports 620 KTAR’s Doug and Wolf. “I’m not going to say it’s totally racial. They just keep piling on. I don’t understand why they keep piling on. This is a guy that is a very special talent. That has done some very special things and they just keep trying to cut up every part of his game. There is no way a guy can be as successful as he’s been, whatever level he’s been on, and have all these different flaws that they’re talking about right now.” D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ 0 Comments Share Top Stories Nevada officials reach out to D-backs on potential relocation Cardinals expect improving Murphy to contribute right away
Wide receiver was an area of need for the Arizona Cardinals. ButCardinals’ brass has been touting all the while that they won’t draftfor need, instead they opt for the best available player.Well, the worlds of need and talent collided in Arizona’s first rounddraft pick when they selected Notre Dame wide receiver MichaelFloyd with the 13th overall selection of the 2012 NFL Draft.“We got a player who can change field position very quickly, andwhen you couple that with the guys we already have – Larry, Andreand Early – we feel like it gives us a very good receiving corps,”Cardinals head coach Ken Whisenhunt said Thursday night. What an MLB source said about the D-backs’ trade haul for Greinke 0 Comments Share D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Top Stories “There’s been a lot of talk about us needing a number two (receiver)and we’ve said all along that we felt like we’ve had some goodyoung players and we’ve added another player to that mix who’sphysical, fast, big and can make some of those back shouldercatches and red zone plays.”Floyd starred for four years at Notre Dame, and leaves South Bendas the school’s all-time leading receiver with 271 catches. But healso had a tumultuous stay in South Bend that included an arrestfor DUI and a team suspension. Apparently, those did not serve asred flags for the Cardinals’ organization during their pre-draft visitwith Floyd.“One of the things that stood out to me was his honesty,”Whisenhunt said. “We asked him some pretty tough questionsabout his past and he was very honest.“We emphasized the importance to him about some of our playersand how important they are to the community and what types ofrole models they are.”The immediate thought by most Cardinal fans when Floyd’s namewas called was how Floyd would be able to learn from Pro Bowlreceiver Larry Fitzgerald. But Floyd will help Fitz and others as well. Nevada officials reach out to D-backs on potential relocation “It gives us another target, which we think will help take pressureoff the quarterback,” Whisenhunt said. “Obviously, we’re excitedabout potentially taking pressure off of Larry. A lot of defenses arescheming to try and do that.” Cardinals expect improving Murphy to contribute right away