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Tourism Funding Boost for NSW North Coast

first_imgTourism Funding Boost for NSW North CoastThe NSW Government today announced a dedicated Flood Recovery Support Program worth $300,000 to help drive visitors back to the NSW North Coast this Spring.Premier Gladys Berejiklian and Minister for Tourism and Major Events Adam Marshall were in Lismore to make the announcement and said the NSW Government is doing everything it can to assist the North Coast tourism industry following the devastating floods in March.After consulting with our key industry stakeholders and listening to their concerns, I’m very pleased to announce the NSW Government will be delivering a Flood Recovery Support Program,” Ms Berejilklian said.“It’s important we send a clear message that the North Coast is open for business.”Mr Marshall said the NSW Government’s campaign was designed to have a significant impact on local tourism.“The funding program will include new marketing initiatives, an extensive digital and social media program, media familiarisations as well as industry partnerships with HotelsCombined, Webjet, Stayz and National Geographic,” Mr Marshall said.Member for Tweed Geoff Provest, who joined the Premier and Minister Marshall for today’s announcement, said the campaign will help grab the attention of those wanting to book a short break or longer holiday.“Our region is back on its feet. We want to make sure that every bed in every hotel is on the bookings radar over the coming Spring period,” Mr Provest said.Member for Lismore Thomas George said the Flood Recovery Support Program follows the announcement of the exclusive Barbarians Rugby match.“With the Barbarians taking on a Classic Wallabies and National Rugby Championship select side this October, this event will provide a strong boost to the local economy and further showcase regional NSW’s number one destination,” he said.The support and promotional package will run until September 2017.Source = Destination NSWlast_img read more

Raffles Hotel and Gardens by the Bay win Top Influential Brands awards

first_imgRaffles Hotel and Gardens by the Bay win Top Influential Brands awardsRaffles Hotel and Gardens by the Bay win Top Influential Brands awardsRaffles Hotel and Gardens by the Bay won Influential Brands® Top Influential Brands awards for the Heritage Hotel and Tourist Attraction categories respectively. The announcement was made at a black-tie ceremony held at Capitol Theatre on 7 November 2017 in conjunction with the 2017 CEO Asia Conference (now in its 5th edition).“These deserving names represent brands which are enjoyed and loved by consumers in Asia. We are proud to have identified the finest selection of Awardees this year that clearly represent Asia’s ambition to build prominent local and global brands,” said Mr JorgeRodriguez, Managing Director of Influential Brands.The win is backed by more than five years of consumer insights and surveys covering five Asian countries and more than 5,000 participants. The countries surveyed include China, Indonesia, Malaysia, Thailand and Singapore. The Asia-wide study was conducted via both face-to-face and online surveys. More than 50 categories from “Online Marketplace”, “Food and Beverage (F&B)” and “Fast-Moving Consumer Goods (FMCG)”, to “Electronics” and “Beauty & Wellness” were covered. Only top 5 brands from each category qualified for this award. There were 33 winners for the “Top Influential Brands” awards this year.Influential Brands®, in partnership with knowledge partner, Deloitte Singapore, education partner, SIM, and official car, Rolls-Royce Motor Cars, rolled out the red carpet for the glitzy event. It toasted some of Asia’s captains of industry across 50 industries such as Hospitality, Property, Bank, Airline, Automobile, F&B, Healthcare, Retail, Technology, FMCG, as well as Communication among others. Mr Teo Ser Luck, Member of Parliament, was the Guest-of-Honour at the event.The event was a huge success as more than 400 influential Asian C-suite executives from over 100 leading companies across the region including Indonesia, Malaysia, Thailand and China attended the event. The theme for this year: “The Future of Business in Asia”.Raffles Hotel and Gardens by the Bay’s wins were among 46 distinguished CEOs (6 Top CEO of the Year awards), brands (1 Hall of Fame; 33 Top Influential Brands; and 4 Outstanding Brands awards) and personalities (1 Influential Woman of the Year and 1 Influential Artist of the Year awards) awarded at the event.Source = Influential Brands®last_img read more

Discounts on 2019 France Escorted Tours

first_imgDiscounts on 2019 France Escorted ToursDiscounts on 2019 France Escorted ToursWhether you’re looking to explore the refreshing sights in Provence, taste some fine wines in the Champagne region, or experience the jet-set glamour and sophistication of French Riviera – you can hit all the finest stops in France with savings up to $300 AUD per person when you book before December 15, 2018!French Travel Connection (FTC), Australia’s leading travel specialist to France, is offering the ultimate French getaway with awesome deals and big discounts on its wide range of tours and packages!Save up to $300 AUD per person (twin share) when you book any of these three 8-day escorted tours before December 15, 2018:8-DAY CHAMPAGNE, BURGUNDY & ALSACE TOURHighlights include tour of UNESCO-listed Reims Cathedral and visit to Champagne houses including Moët & Chandon and Avenue de Champagne, and wine tastings at a family estate and local domain.8-DAY LOIRE VALLEY, BORDEAUX & DORDOGNE TOURGet around the greener side of France with a tour of quaint gardens of Loire Valley, the grandiose landscape of Bordeaux, and medieval towns of Dordogne. Your itinerary also includes tour and tasting of the famous cognac in Hennessy House.8-DAY LYON, PROVENCE AND FRENCH RIVIERA TOURDiscover Lyon, the city of gastronomy, immerse in the refreshing sights in Provence, then explore famous tourist attractions in Grasse, Cannes, Antibes and Nice. A wine tasting session in Chateauneuf-du-Pape is also included in the package.All these deals include 4-star exclusive hotel accommodation, passionate tour guide, and transportation in a chic and spacious air-conditioned minibus during the itinerary! And because it’s a small group tour (limited to 16 passengers), you can be sure of a more intimate and personalised experience – the one thing that sets FTC apart from other travel companies!For more information contact FTC on 1300 858 304, email info@frenchtravel.com.au or visit www.frenchtravel.com.auSource = French Travel Connectionlast_img read more

Oman Air partners with the Grand Millennium Muscat

first_imgOman Air partners with the Grand Millennium MuscatOman Air partners with the Grand Millennium MuscatAfter the success of the recently extended Business and First class stopover offer, Oman Air, the national carrier of the Sultanate of Oman, is launching another similarly attractive offer; this time open to all its passengers.Partnering with the Grand Millennium Muscat, Oman Air’s guests, travelling through Oman on to their end destination, can now enjoy a free night’s accommodation in this luxurious hotel in the centre of Muscat.So whether passengers are travelling from the Far East on their way to Europe, or indeed the other way, they can now leave the airport in Muscat, enjoy a complimentary 5-star night in the capital, get to know the city and its highlights and return to their travels the next day. There is even the option to extend their stay at attractive rates at the Grand Millennium Muscat.Richard Bodin, Senior Vice President of Oman Air Holidays said, “We have been delighted with the success of our previous campaign, offering a free stopover option to our Premium guests. We are now broadening our offer to embrace all our passenger base and are absolutely thrilled to be working with the stunning Grand Millennium Muscat. There is no doubt that the hotel will impress our guests and tempt them back to the Sultanate.Oman Air has been hugely successful in attracting passengers from across the world to use Muscat as a connection point to other destinations across our network. Campaigns like this will tempt them to break their journey, step out of the airport and see some of the Sultanate; thereby, promoting Oman and all it has to offer.”Luca Medda, Cluster General Manager at Millennium Hotels and Resorts confirmed his company’s commitment to the campaign: “We are keen to promote Oman to travelers across the globe, and what better way than to get them to actually sample our quality and the famous Omani culture and friendliness than a complimentary stay at our property. We are ideally locatedin the centre of Muscat so exploring the city’s many tourist sites is easy, and of course we are linked by walkway to the Grand Mall, so we offer the additional benefit to those wanting some ‘retail therapy’ as they explore the city.”The Grand Millennium Muscat is a modern luxury hotel that has rapidly established itself as one of the premium properties in Oman. A tribute to the rich, cultural heritage and time-honored values of Oman, the 5-star Grand Millennium Muscat is centrally located in the business, government and diplomatic district whilst the airport is just 15 minutes away. It is within easy reach of beaches, the Malls and the Royal Opera House of Muscat. Source = Oman Airlast_img read more

Le Meridien opens a new hotel in Bhutan

first_imgStarwood Hotels & Resorts has launched its second Le Méridien hotel in Bhutan.Set on the banks of the Paro River, Le Méridien Paro Riverfront offers views of the Himalayas. It provides just 59 rooms and suites, plus a restaurant, swimming pool, fitness centre and spa. All guests would also be offered free access to Ta Dzong, Bhutan’s National Museum, as part of the hotel’s ‘Unlock Art’ programme.The opening of the Paro property comes less than a year after the launch of Le Méridien Thimphu, which offers 78 rooms in Bhutan’s capital city.“Bhutan truly is a one-of-a-kind destination waiting to be discovered, and with two stunning Le Méridien hotels in Paro and Thimphu, we are delighted to help adventure seekers unlock the country’s mythical allure,” said Brian Povinelli, global brand leader for Le Méridien Hotel & Resorts.last_img read more

Singapore Tourism Board Singapore Airlines launch a new campaign

first_imgIn an attempt to share the festive spirit with Indian travellers, Singapore Tourism Board and Singapore Airlines have announced the launch of its new campaign called ‘3 Celebrations, 1 City – Singapore,’ which would run from October 2016 to March 2017, spanning across three key festivals starting with Deepavali, Christmas, and then Chinese New Year.The campaign is aimed at inviting Indian tourists to celebrate the festivities in Singapore during the holiday seasons. Tourists who book flights to the Lion City on Singapore Airlines and SilkAir between October and December 2016, either on their website or mobile app, would gain exclusive access to the ‘Singapore 241 Passport’ smartphone app. This app is packed with value-for-money 2-for-1 deals and offers worth up to Rs 48,000 across 24 participating outlets in Singapore, including popular restaurants and spas. The ‘Singapore 241 Passport’ application is compatible with both Android and iOS smartphones.STB Regional Director, SAMEA, GB Srithar said, “Singapore is a great place for celebrating holidays, with three back-to-back festivals taking place this time of the year. Indian travellers will find reasons aplenty to enjoy and bond together with their family and loved ones. Eligible visitors from India transiting on flights through Singapore may utilise the Visa Free Transit Facility to explore and experience Singapore’s many festive and tourism offerings for 96 hours without a visa.”Singapore Airlines’ General Manager India, David Lim said, “Singapore Airlines and SilkAir are delighted to partner with Singapore Tourism Board to bring together a complete, travel experience. Our endeavour is to provide our customers with a holistic package, allowing them to make the most of their festive holidays. Travellers not only experience in-flight comforts synonymous with Singapore Airlines and SilkAir but also avail of value-added benefits at the destination through the Singapore 241 Passport app.”last_img read more

Exploring the Fort Cornwallis of Malyasia

first_imgThe Fort Cornwallis is a star fort that the British East India Company built in the late 18th century on the northeastern coast of Penang Island, Malaysia. It is the largest standing fort in Malyasia. Source: Expedialast_img

FHFA House Prices Up in April

first_img June 22, 2011 420 Views FHFA: House Prices Up in April Share On Tuesday the “”Federal Housing Finance Agency””:http://www.fhfa.gov/ (FHFA) reported a slight 0.8 percent rise in home prices from March to April, representing a positive note in an otherwise brittle housing market that has been buffeted by volatile economic progress over the past six months.[IMAGE]The “”FHFA’s””:http://www.fhfa.gov/ monthly House Price Index, which recorded a 0.3 percent dip in March, revised the number to reflect a 0.4 percent increase. The 12-month stretch for home values ending in April struck out at 5.7 percent, steadying at 19.3 percent below an April 2007 high and resembling the January 2004 index data.Asked about why house prices saw an upward nudge in April, Andrew Leventis, “”FHFA’s””:http://www.fhfa.gov/ senior economist, cited “”unclear”” variables, attributing the uncertainties to “”a great deal of volatility even in the best of times when the markets are the way they are.””The “”FHFA””:http://www.fhfa.gov/ also reported shifting prices in two regions, with a 1.3 percent decline in the Mountain region alongside a 2.2 percent increase that marked the highest upward-bound trend for prices. The other nine census-designated areas failed to report any changes.””Even though we see a blip in prices in April, according to our most recent data, that blip may be revised in”” future “”FHFA””:http://www.fhfa.gov/ indices, Leventis added. “”There is a fair bit of volatility in markets and markets are looking for direction. April seems to be reasonably robust but it will take awhile for us to see how spring prices fare.””According to its statement, the “”FHFA””:http://www.fhfa.gov/ manages the House Price Index by calculating the purchase prices for houses backing mortgages purchased and guaranteed by government-sponsored enterprises (GSEs) “”Fannie Mae””:http://www.fanniemae.com/kb/index?page=home and “”Freddie Mac””:http://www.freddiemac.com/.This “”House Price Index””:http://www.fhfa.gov/webfiles/21605/MonthlyHPI62211F.pdf for the past several months emerges from a backdrop of reports, including a Fannie Mae forecast released on Monday that predicts a 2.9 percent to 2.5 percent decline in economic growth this year.Orawin Velz, “”Fannie Mae’s””:http://www.fanniemae.com/kb/index?page=home director of economic and mortgage market analysis, underscored the roles that low job growth and a weaker labor market played in home prices over the past six months.””Employment is very weak,”” Velz said. “”It makes people├â┬ó├óÔÇÜ┬¼├é┬ª more cautious and hesitant to enter the market.””center_img Agents & Brokers Fannie Mae FHFA Freddie Mac Home Prices Investors Lenders & Servicers 2011-06-22 Ryan Schuette in Data, Government, Origination, Servicinglast_img read more

WMI Holdings Appoints Interim Chief Accounting Officer

first_imgWMI Holdings Appoints Interim Chief Accounting Officer Agents & Brokers Attorneys & Title Companies Investors Lenders & Servicers Movers & Shakers Processing Service Providers 2012-06-08 Abby Gregory Share in Data, Government, Origination, Secondary Market, Servicing, Technologycenter_img WMI Holdings Corp., formerly “”Washington Mutual, Inc.””:http://en.wikipedia.org/wiki/Washington_Mutual, has named a new interim chief accounting officer. [IMAGE]As part of the entity’s ongoing strategy following the completion of “”Chapter 11 proceedings””:https://themreport.com/articles/washington-mutual-finalizes-chapter-11-proceedings-2012-03-21, WMI has appointed Timothy Jaeger to the leadership role.[COLUMN_BREAK]Jaeger is currently a principal for “”CXO Consulting Group, LLC””:cxoc.com/, and he has been retained by WMI through an engagement agreement between the two companies. Most recently, Jaeger was the senior vice president, chief accounting offer, and chief financial officer for “”Macqurie AirFinance, Ltd.””:http://www.macquarie.com/mgl/maf, a global aviation lessor.Additionally, Jaeger is a certified public accountant boasting more than 25 years of industry experience. Other career highlights for Jaeger include time spent at “”Tatum Partners, LLC””:http://www.tatumllc.com/, and ICON Estates/Robert Mondavi Winery/Constellation Brands, where he served as the company’s interim controller and Sarbanes Oxley coordinator. WMI’s interim CEO commented on Jaeger’s addition to the company, stating, “”We are pleased to add Timothy Jaeger as Interim Chief Accounting Officer.├âÔÇÜ├é┬á Tim brings broad accounting experience in a number of cross-industry contexts, including public and private companies as well as venture capital and corporate acquisitions. ├âÔÇÜ├é┬áWe look forward to working closely with him.”” June 8, 2012 586 Views last_img read more

Builders Continue to Gain Confidence in 55 Market

first_imgBuilders Continue to Gain Confidence in 55+ Market Agents & Brokers Attorneys & Title Companies Confidence Homebuilders Investors Lenders & Servicers Multifamily National Association of Home Builders Processing Service Providers 2013-08-12 Tory Barringer Builder confidence in the 55+ housing market showed “”significant improvement”” in the second quarter, the “”National Association of Home Builders””:http://www.nahb.org/default.aspx (NAHB) reported.[IMAGE]NAHB’s 55+ Housing Market Index (HMI)–a measure of builder confidence in that particular market sector–increased 24 points over the same period last year, rising to a level of 53, the highest second-quarter number since the inception of the index in 2008 and the seventh consecutive quarter of year-over-year improvements.””Builders and developers for the 55+ housing sector are feeling optimistic as they are seeing more consumers return to the marketplace,”” said Robert Karen, chairman of NAHB’s 50+ Housing Council and managing member of the Symphony Development Group. “”With existing home prices rising, consumers are able to sell their current homes and make the move toward either purchasing a [COLUMN_BREAK] home or renting an apartment that is designed to more specifically suit their lifestyle.””In the single-family market, the present sales indexed climbed 24 points to 54, the expected sales index rose 25 points to 60, and prospective buyer traffic rose 26 points to 48.Meanwhile, the 55+ multifamily condo HMI saw a gain of 24 points to 43–again, the highest second-quarter reading in the history of the index. All HMI components increased compared to last year: Present sales rose 26 points to 44, expected sales improved 26 points to 46, and traffic of prospective buyers increased 19 points to 63.The 55+ multifamily rental indices also showed strong signs of improvement in the second quarter. The present production index gained 19 points to rest at 50, while expected future production rose 20 points to 52. Current demand for existing units increased to 62 (a gain of 20 points), and future demand increased 21 points to 63.””The 55+ HMI for single-family homes almost doubled from a year ago,”” said NAHB chief economist David Crowe. “”Sentiment in other segments of the 55+ market housing was strong as well. This is consistent with the increase in builder confidence we’ve seen in other NAHB surveys recently. “”At this point, the main challenge for builders in many parts of the country is finding enough buildable lots in desirable locations and workers with the necessary skill set to respond to the increased demand.”” Sharecenter_img August 12, 2013 464 Views in Data, Government, Origination, Secondary Market, Servicinglast_img read more

2013 Originations Down 14 Wells Fargo Stays on Top

first_img March 10, 2014 575 Views While mortgage origination volumes looked different last year compared to 2012, the list of top lenders looked very much the same.According to stats released Monday by Mortgage Daily, residential loan originations were down 14 percent throughout 2013, falling 37 percent on a quarterly basis in Q4 alone.Part of the blame for the decline can go to rising interest rates, which were up more than a percentage point to the high 4 percent range over the year.In full-year originations, Wells Fargo held on to its top spot, generating approximately $351 billion in loans—about 19 percent of last year’s total volume, according to Mortgage Daily. JPMorgan Chase followed up at No. 2 at $168 billion.Also in the top five 2013 lenders were Bank of America ($90 billion), U.S. Bank Home Mortgage ($85 billion), and Quicken Loans ($79 billion).Together, the top five lenders accounted for about 43 percent of last year’s activity.Looking at just the fourth quarter, the rankings were the same: Wells Fargo ($50 billion); Chase ($24 billion); BofA ($14 billion); U.S. Bank ($13 billion); and Quicken ($13 billion).All five lenders saw loan volumes decline quarter-to-quarter; in fact, out of all companies tracked by Mortgage Daily, only Stonegate Mortgage reported an increase from the third quarter. Total mortgage production for the first quarter is expected to be down 14 percent.Wells Fargo, Chase, and BofA also took the top three spots on the servicing side. As of December 31, Wells serviced $1.8 trillion, boasting a market share of 19 percent. Chase was second with $984 billion, with BofA following at $810 billion.Unsurprisingly, non-banks Ocwen and Nationstar took the fourth and fifth spots, servicing $465 billion and $393 billion in loans, respectively. The two servicers have been aggressive in their portfolio growth efforts, quickly climbing the ranks of top servicers and attracting attention from regulators who wonder if the companies are up to the task. Bank of America JPMorgan Chase Nationstar Ocwen Quicken Loans Wells Fargo 2014-03-10 Tory Barringer in Daily Dose, Featured, Headlines, News, Origination, Servicingcenter_img 2013 Originations Down 14%; Wells Fargo Stays on Top Sharelast_img read more

Regulators Shut Down Oklahoma Bank

first_img in Daily Dose, Government, Headlines, News June 30, 2014 449 Views FDIC announced Friday the closure of yet another insured bank, bringing the count up to 12 in the year’s first half.The Oklahoma State Banking Department shut down Freedom State Bank over the weekend, closing the book on an institution described by FDIC in early May as “critically undercapitalized.”In its enforcement action, FDIC pointed to Freedom Bank’s “rapidly deteriorating capital condition, [its] unacceptable capital restoration plan, and the inability of Bank management to return the Bank to a safe and sound condition” as causes for intervention.The bank failed to meet an FDIC directive to restore itself to “adequately capitalized” status by the June 27 deadline.To protect depositors, FDIC announced a purchase and assumption agreement with Alva State Bank & Trust Company, which has agreed to take on all of Freedom State Bank’s $20.9 million in deposits and $17.7 million in assets. FDIC said it will hold on to the remaining assets for later disposition.As a result of the closure, FDIC’s Deposit Insurance Fund took a hit of $5.8 million, the agency estimates.In addition to being the 12th closure year-to-date nationwide, Freedom State Bank was the second collapse in Oklahoma so far this year. The first was the Bank of Union in January. Regulators Shut Down Oklahoma Bankcenter_img Bank Failure FDIC 2014-06-30 Tory Barringer Sharelast_img read more

Consumer Confidence Makes Comeback Heading Into Holidays

first_img Conference Board Consumer Confidence Employment IHS Global Insight Jobs 2014-12-30 Seth Welborn The Conference Board’s Consumer Confidence Index increased to 92.6 in December from its November reading of 91.0, according to the latest monthly Consumer Confidence Survey released Tuesday.November’s reading had been a disappointment for the Consumer Confidence Index following a post-recession high of 94.5 for October. The Present Situation Index jumped up to 98.6 in the latest reading from its November level of 93.7, while the Expectations Index fell slightly from 89.3 down to 88.5.”Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions,” said Lynn Franco, Director of Economic Indicators for the Conference Board. “As a result, the Present Situation Index is now at its highest level since February 2008 (Index, 104.0). Consumers were moderately less optimistic about the short-term outlook in December, but even so, they are more confident at year-end than they were at the beginning of the year.”The main drivers of the increase in consumer confidence for December were consistently falling gas prices and well-received employment reports, according to Chris Christopher, Director of U.S. Consumer Economics for IHS Global Insight. With the nation’s unemployment rate at a six-year low of 5.8 percent, the percentage of people surveyed who said they believe jobs are “plentiful” increased from 16.2 percent in November to 17.1 percent in December. The percentage who said they believe jobs are “hard to get” declined slightly from 28.7 percent in November to 27.7 percent in December.Christopher said he sees the increases reported in the latest survey as a positive sign for the holiday season, since the cutoff date for the survey was December 16.”Consumer spending is likely to end 2014 on a high note and is also looking bright for 2015,” Christopher said in his analysis of the survey. “We expect 2015 real consumer spending growth to outpace 2014, and real median household income is likely to gain some traction in the New Year. This is good news for middle income households since between 2008 and the end of 2013 most of the income gains have been in the upper income brackets.”Meanwhile, the percentage of people surveyed said business conditions were “good” stayed the same from November to December, the percentage who said business conditions were “bad” dropped from 21.8 percent to 19.6 percent. Consumers’ outlook for short-term economic improvement was slightly less positive, however; the percentage who said they expect business conditions to improve in the next six months dropped slightly down to 18.0 percent in December from 18.3 percent in November. The percentage who expect more jobs in the months ahead also nudged slightly downward from 15.5 percent to 14.7 percent, while the percentage expecting fewer jobs fell from 16.9 percent to 16.1 percent in Daily Dose, Data, Headlines, News Consumer Confidence Makes Comeback Heading Into Holidayscenter_img December 30, 2014 535 Views Sharelast_img read more

SingleFamily BuiltForRent Construction Rises in Q2

first_img Single-family homes built-for-rent rose to approximately 8,000 starts for the second quarter of 2015, compared to about 6,000 in the same period last year, according to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis.”The share and count of built-for-rent starts are off post-recession highs and will likely approach historical norms as the housing market continues to expand,” said Robert Dietz VP for Tax and Market Analysis for NAHB. “However, given the relatively small size of this market, care must be taken when tracing changes in the estimates.”The data and analysis found that the market share of single-family homes built-for-rent,  measured on a one-year moving average, rests at 3.8 percent of total single-family starts for the second quarter of 2015. Quarter-to-quarter movements are usually not large due to this market segment being so small.Dietz noted that the current market share is higher than the historical average of 2.8 percent but is down from the 5.8 percent registered in 2013.Source: NAHBAlthough market concentration is up, the total number of single-family starts built-for-rent remains fairly low, with only 26,000 homes started during the last four quarters, the report said.”Of course, the built-for-rent share of single-family homes is considerably smaller than the single-family home portion of the rental housing stock, which is 29 percent according to the 2011 American Community Survey,” the analysis said “The reason for this is that as single-family homes age, they often transition to the rental housing stock.”This month, the Federal Housing Finance Agency (FHFA) has announced the adoption of a final rule establishing the housing goals for Fannie Mae and Freddie Mac for both single-family and multifamily housing for the years 2015 through 2017.”The single-family goals advance the Enterprises’ statutory missions to provide access to credit for creditworthy borrowers and provide liquidity to the U.S. housing market while operating in a safe and sound manner,” FHFA Director Melvin L. Watt said. “The multifamily goals will create rental opportunities for those who need affordable housing. Together, these goals establish a solid foundation for affordable and sustainable homeownership and rental opportunities in this country.”The final rule establishes goals for the first time for rental units affordable to low-income families in multi-family properties with five to 50 units. According to the final rule, both GSEs’ multifamily low-income goal for each year from 2015 to 2017 is 300,000 units, an increase from the proposed number of 250,000 units for each year for Fannie Mae and the proposed number of 210,000 for 2015, 220,000 for 2016, and 230,ooo for 2017 for Freddie Mac. Share Single-Family Built-For-Rent Construction Rises in Q2 in Daily Dose, Data, Featured, Government, Newscenter_img Census Bureau Construction National Association of Home Builders Single-Family Homes 2015-08-24 Staff Writer August 24, 2015 519 Views last_img read more

TenX Launches EndtoEnd Online Transaction Platform

first_img Online real estate marketplace, Ten-X (formerly Auction.com), recently announced its new transaction platform created especially for buying and selling move-in ready homes. Ten-X Homes was rolled out at the South By Southwest (SXSW) Interactive Festival.According to an announcement from Ten-X, the new platform provides consumers and real estate professionals with enhanced flexibility, control and simplicity, and is optimized for use on desktops, tablets, and smartphones.Ten-X Homes will allow consumers–on their own, or with the help of a real estate agent–to do everything involved in the process of buying and selling a home. Users will be able to search for homes, or easily create their own property listings, negotiate prices and terms, manage offers, and complete sales transactions all online.Hundreds of homes will be available for purchase nationally from a wide range of sellers including banks, investors, institutions, home builders, and realtors–all of which will be listed by an agent and offer a broker’s co-op.  Additionally, home owners will be able to create their own listings on the Ten-X Homes platform initially in four markets: Dallas, Miami, Phoenix, and Denver.“Real estate is moving online. Over ninety percent of home purchases include searches on websites like Zillow and Trulia,” said Jason Allnutt, General Manager of Ten-X’s residential real estate business unit. “Ten-X works with those companies to offer the only true end-to-end online transaction process – from the listing and searching phase through the close of escrow – empowering buyers, sellers and their agents with a safe, simple transparent way to buy and sell real estate.”Ten-X Homes streamlines the negotiation process by enabling buyers and sellers to submit, accept, and reject counteroffers easily and with complete transparency. At any given time, a buyer, seller, agent, title or escrow officer, or lender can securely log in and use Ten-X’s proprietary Transaction Manager feature to complete their tasks online and see when the sale is expected to close.“There is an enormous opportunity to garner a significant share of the $1.1 Trillion residential real estate market by delivering an easier, more transparent, complete end-to-end online solution that appeals to the consumer market,” said Ten-XCEO Tim Morse. “Ten-X offers a proven platform, a simplified process, and the information and tools needed for everyone to confidently buy and sell real estate online – whenever they want to and from wherever they are.”Ten-X Homes allows sellers, or their agents to:List their home anytime, on any device using a Self List tool that walks them through the process step by step to add in amenities, photos, descriptions and listing termsSet their preferred list termsEasily view and compare offers side-by-side on a Seller DashboardNegotiate with a buyer completely online utilizing Ten-X Negotiator, using all of the key terms required to consummate a contractComplete all transaction tasks online–and see exactly where the sale is in the process and what still needs to be done using Ten-X Transaction ManagerTen-X Homes allows buyers to:Browse properties from all over the U.S. by state and citySubmit offers directly to the seller onlineEasily track offers, listing updates and new homes that meet their criteria using a Buyer DashboardComplete all transaction tasks online – and see exactly where the sale is in the process and what still needs to be done using Ten-X Transaction Manager Ten-X Launches End-to-End Online Transaction Platform March 14, 2016 483 Views Online Transaction Platform Ten-X Ten-X Homes 2016-03-14 Staff Writercenter_img in Daily Dose, Headlines, News, Technology Sharelast_img read more

Whats Keeping Renters From Homeownership

first_img Freddie Mac Homeownership Renters 2016-03-16 Seth Welborn What’s Keeping Renters From Homeownership? March 16, 2016 611 Views Rents may be rising and consumers may be feeling the crunch when it comes to their personal finances, but 70 percent of renters still believe that renting is more affordable than owning a home and 55 percent of renters plan to continue renting for at least the next three years, according to a quarterly survey of online renters by Freddie Mac released on Wednesday.Attitudes toward renting were similar across generations, according to the survey: 70 percent of millennials, 61 percent of generation xers, and nearly three-quarters (73 percent) of baby boomers surveyed said that they believed renting was more affordable than homeownership.“Renting is becoming a popular choice among many age groups,” said David Brickman, EVP of Freddie Mac Multifamily. “While most renters still have favorable views toward homeownership and aspire to it, many choose to rent because they view it as more affordable and a better fit for their lifestyle right now.”The perception of renting among millennials was more positive than that of overall respondents: 54 percent of millennials said they believe that renting is a good choice for them now, regardless of whether they can afford to buy later or whether they want to buy later. Overall, 46 percent of respondents said that renting was the best choice for them now.The most likely future home buyer is the single-family home renter, according to Freddie Mac, with 52 percent of renters in single-family homes (compared to 36 percent of apartment renters) saying they plan to buy a home at some point in the next three years—consistent with the results from Freddie Mac’s October 2015 survey. Millennials ages 25 to 34 were the most likely age group to buy in the next three years, at 56 percent. Nearly half of generation xers (49 percent) said they intend to buy in the next three years, followed by millennials ages 18 to 24 (44 percent) and baby boomers (31 percent).Affording a down payment was perceived to be the biggest hurdle among those who plan to buy a home in the next three years (36 percent), but credit history was a close second at 35 percent, according to Freddie Mac. Thirty percent of those who plan to buy in the next three years said they do not make enough money, and 23 percent said they had too much debt.Lifestyle preferences, in addition to financial factors, influenced the decision to rent over buying. Among younger millennials, the most popular reason for renting was the fact that renting allows them to save money (42 percent), while 39 percent of them said renting was the best fit for their lifestyle. For gen-xers and baby boomers, the most popular reason was not having to worry about home maintenance (28 percent for boomers and 41 percent for gen-xers). Almost half of survey respondents whose rent had increased in the last two years said they liked where they live and they plan to continue renting regardless of rent increases, according to Brickman.The most popular non-financial factor to consider when choosing a place to rent is safety and security (27 percent), according to the survey.Click here to view the entire survey.center_img Share in Daily Dose, Data, Government, Headlines, News, Originationlast_img read more

Inlanta Mortgage Integrates LendingQBs LOS

first_img in Daily Dose, Headlines, News, Technology July 22, 2016 613 Views Inlanta Mortgage LendingQB 2016-07-22 Seth Welborn LendingQB, a Costa Mesa, California-based mortgage loan origination technology solutions provider, has successfully implemented its Web-based loan origination system (LOS) for Brookfield, Wisconsin-based mortgage lender Inlanta Mortgage, Inc., according to an announcement from LendingQB.Inlanta attributes the smooth and rapid implementation of LendingQB’s LOS to LendingQB’s comprehensive deployment process and the staffs of both companies engaging in a focused effort.“We have grown quickly in the past few years and we recognized the need for technology that would grow with us,” Inlanta Mortgage Chief Information Officer Chris Knowlton said. “Our previous LOS vendor was ending support for our version of their software, so we took the opportunity to evaluate other providers. LendingQB’s approach offered more than just tools; their software solution enables us to close more loans in less time.”Inlanta made the decision in mid-2015 to implement LendingQB’s LOS and began working with a team of specialists that designed a comprehensive implementation plan.“Inlanta was very motivated and provided plenty of resources to ensure the project would succeed,” said Lester Alitagtag, deployment manager for LendingQB. “They were efficient in communicating with us, took accountability for their work and had strong executive support. These are the keys to a successful implementation project.”Inlanta’s successful implementation of LendingQB’s LOS came at a time when Inlanta is experiencing very high loan volume.“During this spring season, Inlanta reached record volume and we rolled out a new loan origination software system,” said Nick DelTorto, President and CEO of Inlanta. “This would not have been possible without our outstanding team of employees and their dedication to fulfilling our mission. We appreciate all of their extra time, effort, and sacrifice to make this happen; it is a heck of an accomplishment by our employees.”The implementation of LendingQB has successfully migrated to all 36 branches of Inlanta in less than three months. According to Inlanta, staff response to moving the entire organization onto a Web-based system has been positive.“Mortgage lending is a complex information technology business,” Knowlton said. “We rely on our technology partners more than ever before, so it’s comforting to know we found a company that really has our best interests in mind. We look forward to working with LendingQB for a long time.”center_img Share Inlanta Mortgage Integrates LendingQB’s LOSlast_img read more

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first_imgAs individuals make their way through the industry and companies merge, keep watch on the important highlights in this activity update.Altisource Portfolio Solutions S.A., an integrated service provider and marketplace for the real estate and mortgage industries, has announced the appointment of a new leader for a recently developed role, which was created to provide greater advancements to the digital real estate industry. Marcello Mastioni joins Altisource’s executive team as President, Real Estate Marketplace in the company’s international headquarters located in Luxembourg, Luxembourg. As the number of consumers and investors using online tools to buy and sell homes, Mastioni’s role takes on the responsibilities of driving growth by focusing on digital experience and strategy across the company’s platforms, including the real estate focused marketplaces of Owners.com and Hubzu. _______________________________________________________________________________________Wednesday, IndiSoft, a technology development firm that specializes in systems for the financial services industry, announced Camillo Melchiorre as President, focusing on the firm’s sales and marketing efforts. Sanjeev Dahiwadkar, who previously held the roles of President and CEO, will not be available to concentrate on IndiSoft’s strategic direction as CEO. Prior to this position, Melchiorre served as President and CEO of HLP, a company powered by IndiSoft’s RxOffice. Before HLP, he held the position of SVP of Loss Management at Radian Group, Inc., where he managed losses during the financial crisis with new systems, operations, and loss mitigation strategy._______________________________________________________________________________________LenderLive Document Services, a LenderLive Services LLC company, recently announced thatFannie Mae and Freddie Mac have certified their Uniform Closing Dataset (UCD) XML file as meeting all UCD requirements months ahead of the September 25 deadline for meeting all UCD certification and delivery requirements. After undergoing detailed, extensive testing protocol to make sure the UCD XML file met all GSE requirements to deliver data and documents in a GSE acceptable format, the LenderLive UCD XML file is now able to embed and deliver closing disclosures as associated data to the borrower. They will also prepare the UCD with seller data as part of the 2018 requirement._______________________________________________________________________________________Black Knight Financial Services Inc., an integrated technology, data, and analytics company, announced that LoanCare signed a seven-year renewal to continue using Black Knight’s LoanSphere MSP, which is its end-to-end servicing system. LoanCare, a national full-service residential subservicing and ServiceLink company, uses LoanSphere MSP to help reduce the costs, resources, and potential regulatory risks associated with operating multiple systems and is currently uses the system to service over 30 million active loans. LoanCare also uses other Black Knight servicing solutions to assist servicers with managing bankruptcy processes, including, LoanSphere Bankruptcy, and LoanSphere Foreclosure._______________________________________________________________________________________Independent Settlement Services, a Pittsburgh-based appraisal and title management services firm serving the real estate finance industry, announced last week it will enhance its valuation products with Value Report, an automated property valuation with an instant automated valuation model (AVM) that combines the data and algorithms of Independent Settlement Services and HouseCanary. The collaboration is a result of an increased demand for accurate property valuations, according to Independent Settlement Services. August 17, 2017 515 Views in Daily Dose, Featured, Government, News Share Eye on the Industry 2017-08-17 Brianna Gilpinlast_img read more

Relief Bill to Ease Regulation for Economic Gains

first_img Share Financial Regulatory Relief Bill HOUSING mortgage Senate Committee on Banking 2017-11-13 Nicole Casperson November 13, 2017 611 Views in Daily Dose, Featured, Government, Headlines, Newscenter_img Monday afternoon, the Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Banking Committee members Joe Donnelly (D-Indiana), Heidi Heitkamp (D-North Dakota), Jon Tester (D-Montana) and Mark Warner (D-Virginia), along with other senators, announced new legislation that aims to relieve the burden of regulations and protect consumers while spurring home lending and access to other capital.The agreement stems from a series of hearings that have been held since last spring, which explored proposals from industry experts. Since then, the Committee has been negotiating and drafting a reform package. The agreement includes measures from Committee members on both sides of the aisle and stakeholders.“A strong and vibrant economy is important for American consumers, businesses, and the stability of the financial sector,” said Chairman Crapo. “The bipartisan proposals on which we have agreed will significantly improve our financial regulatory framework and foster economic growth by right-sizing regulation, particularly for smaller financial institutions and community banks. I thank all of the senators who have joined with us to move this forward, and look forward to continuing our work to achieve a robust, bipartisan legislative product.”In addition, Senator Heitkamp said how the bill serves as an example of what can happen when Democrats and Republicans put partisanship aside and work together-—reaching real compromises that support the country.“Every day I come to work in the U.S. Senate, I’m fighting for rural America—and that’s what our bipartisan bill is about,” Senator Heitkamp said. “It would provide needed relief to community banks and credit unions, so they can continue enabling small businesses to get financing to operate, helping farmers get loans to support their farms, and allowing families to buy homes in rural communities across our state. And it does all of this while strengthening protections for consumers.”Overall, the package is targeted toward helping community banks, credit unions, mid-sized banks, regional banks, and custody banks—including important consumer protections, particularly for veterans, senior citizens, and victims of fraud.  According to Senator Donnelly, the proposal would provide long-awaited regulatory relief to community banks and credit unions unintentionally burdened by rules intended to hold Wall Street accountable. This agreement would maintain the safety of our financial system and offer new protections to consumers, including veterans, by helping to protect their credit in the wake of recent data breaches, like the Equifax breach.””This agreement would maintain the safety of our financial system and offer new protections to consumers, including veterans, by helping to protect their credit in the wake of recent data breaches, like the Equifax breach,” Senator Donnelly said.In response, the National Association of Federally-Insured Credit Union’s (NAFCU) CEO Dan Berger stated that the relief bill is a step in the right direction.”NAFCU thanks Chairman Crapo and his Democratic partners in the Senate for including provisions in this package that would lead to regulatory relief for credit unions,” said Berger. “We look forward to working with members of the Senate Banking Committee, their staff, and other senators as this package moves through the legislative process. This bill is a step in the right direction, and we will continue to push for more relief for the industry and its 110 million member-owners.”Highlights of the agreed-upon package include:·         Improves consumer access to mortgage credit;·         Provides regulatory relief for small financial institutions and protects consumer access to credit;·         Provides specific protections for veterans, consumers, and homeowners;·         Tailors regulations for banks to better reflect their business models.Click here, for a section-by-section summary.Original co-sponsors include: Republicans: Mike Crapo (R-Idaho), Bob Corker (R-Tennessee), Tim Scott (R-South Carolina), Tom Cotton (R-Arkansas), Mike Rounds (R-South Dakota), David Perdue (R-Georgia), Thom Tillis (R-North Carolina), John Kennedy (R-Louisiana), Jerry Moran (R-Kansas).Democrats: Joe Donnelly (D-Indiana), Heidi Heitkamp (D-North Dakota), Jon Tester (D-Montana), Mark Warner (D-Virginia), Tim Kaine (D-Virginia), Angus King (I-Maine), Joe Manchin (D-West Virginia), Claire McCaskill (D-Missouri), and Gary Peters (D-Michigan). Relief Bill to Ease Regulation for Economic Gainslast_img read more

Title Insurance Company Names new Division President

first_img new hire Title Insurance 2019-05-08 Mike Albanese in Featured, Headlines, News May 8, 2019 851 Views Title Insurance Company Names new Division Presidentcenter_img Brian Baker was named the new President of the Dallas-Fort Worth Division for WFG National Title Insurance Company.WFG National Title Insurance Company (WFG), an Oregon-based provider of title insurance and real estate settlement services for commercial and residential transactions nationwide, announced that Brandon Baker has been named the new President of the company’s Dallas-Fort Worth division.In this role, Baker will manage the day-to-day administrative operations for the DFW market, including working with the WFG team to establish short and long-term goals, plans and strategies. He will also be looking to recruit additional revenue-producing employees to add to the company’s branches. Baker comes to WFG from another title company, where he was most recently a Vice President and was responsible for strategic growth, fee attorney operations and recruiting. Before that he held several executive sales positions.”Joining WFG and leading the DFW office is a great opportunity to continue to develop in this marketplace,” Baker said. “With our current team and new recruits, we look to build on our relationships with the local real estate community to increase our market share.  Our ultimate goal is to create a better real estate experience for home buyers and sellers.”Rob Sherman, Senior Vice President and Regional Director at WFG, said the company concentrates on taking time and cost out of real estate transactions as it focuses on clients and their processes.”Brandon’s experience is a valuable asset to WFG,” Sherman said. “He has demonstrated his leadership skills in maximizing growth through internal collaboration as well as in developing client relationships and cultivating talent within the industry. He’s a great addition to the team.” Sharelast_img read more