Coronet Peak caps off ‘stellar’ season with visitor experience awardCapping off a stellar season, Queenstown’s Coronet Peak fought off stiff competition to win the Visitor Experience Award at the New Zealand Tourism Industry Awards this weekend.The ski area celebrated its final ‘hurrah’ on the snow this weekend with a Rugby World Cup-themed day in support of the AB’s on Saturday. On Sunday, all best efforts to host a Beach Party were somewhat thwarted by wet and wild weather, but a few brave souls managed the Pond Skim to cap off an amazing season.The final weekend of 2015 winter started well, with Coronet Peak ski area manager Ross Copland accepting the honour in Auckland on Friday night.The judges were unanimous in their praise, saying the ski area had done an “awesome job” in meeting its objective for 2015 to reduce customers’ ‘time to snow’ to ensure they have the ultimate experience on the mountain.“Late in 2014 we undertook a detailed review of the whole visitor journey looking for opportunities to provide an even better experience for our guests,” said Ross.“We have a short operational season between June and October, with approximately quarter of a million skiers and boarders visiting Coronet Peak in just four months.“Our operational processes vary according to the weather conditions which has encouraged us to be innovative and responsive to weather and business levels on a daily basis.”Putting the spotlight on the customer journey drove changes across the operation, including initiatives around recruitment and training, building restructuring and process flows, roading and car parking, and mountain operations.Tourism Industry Awards judges were delighted with the end result.“The visitor journey has been given a massive overhaul and is now truly world-class. Revenue has increased significantly and they are making an amazing contribution to the industry,” judges said.Guest Survey results have provided solid evidence that guests are loving the reductions in queue time and the additional time on snow.Source = Coronet Peak
Emirates celebrates 20 years of connecting the world to AustraliaThis month Emirates celebrates 20 years of flying to Australia with the airline continuing to demonstrate its commitment to the market by increasing capacity through the deployment of two additional A380 aircraft on its Australian services this calendar year.Since launching services to Australia in June 1996, the airline has grown substantially from four flights a week from Dubai to Melbourne, Victoria, to 105 flights per week to five Australian cities today. This includes 11 daily flights from Dubai to five capital cities – Sydney, Melbourne, Brisbane, Perth and Adelaide, and four daily flights from New Zealand to Australia.Over the last two decades the airline has experienced progressive growth in Australia and since commencing services to the country, Emirates has carried more than 27 million passengers on its Australian flights, boosting the nation’s annual AUD$30 billion export earnings from tourism. While in 2015-16, Emirates carried more than 3.3 million passengers on its Australian flights, with an average seat factor of 80 percent – one of the highest amongst carriers operating in the Australian market.From a cargo perspective, Emirates is the second largest international cargo carrier in Australia, with market share of over 11%. While overall, including both international and domestic cargo, Emirates is the third largest cargo carrier in this market.Barry Brown, Emirates Divisional Vice President for Australasia, said the milestone highlights the airline’s ongoing commitment to the Australian market.“Australia is one of Emirates’ most important markets and it has been incredible to witness the expansion of our network across the country over the past 20 years, which has allowed us to connect more travellers from around the world to Australia through our convenient Dubai hub.“Australia is the third largest A380 destination for the airline globally. The deployment of additional A380 aircraft in Australia this year provides further opportunities for those travelling to Australia to experience our world-class product and enjoy a seamless A380 journey, while increasing our capacity and delivering substantial economic benefits through travel connections, cargo and inbound seats,” said Mr. Brown.Already this year, Emirates added its sixth daily A380 service to Australia, replacing the B777-300ER aircraft on flights EK404 and EK405 between Dubai and Melbourne, which operate via Singapore.While from August, Emirates is scheduled to increase this number to a total of seven daily A380 flights to Australia, up-gauging flights EK424 and EK425 between Dubai and Perth, Western Australia.In addition, in the last 12 months Emirates demonstrated its commitment to the Australian market by unveiling new Business Class lounges at Melbourne and Perth international airports.This year Emirates also celebrated the third anniversary of its codeshare partnership with Qantas, which allows Emirates customers to connect to Qantas’ Australian domestic network of more than 50 destinations and 3,900 flights per week, while Qantas customers are able to access more than 45 Emirates destinations in Europe, the Middle East and North Africa.In the time that Emirates has flown to Australia, the airline has invested more than AUD$90 million in local sponsorships of a number of Australia’s leading sporting and cultural institutions, ranging from the Emirates Melbourne Cup and the Australian Open Tennis, Collingwood Football Club, Emirates Australian Open Golf through to the Melbourne Symphony Orchestra, Sydney Symphony Orchestra. Emirates AirlineSource = Emirates Airline
New 5 million dollar outback resort announced for Broken HillNew $5 million outback resort announced for Broken HillOutback NSW tourism brand, Out of the Ordinary Outback, has continued its expansion with the announcement it will open its sixth accommodation property in March, 2018 – the Broken Hill Outback Resort.Overlooking the Barrier Ranges and Sturt desert pea-pocked plains 13km east of Broken Bill, the cabin, caravan and camping park will surround the historic Mt Gipps Hotel, which was built in 1890 but closed in 1987. Work totalling $5 million is now underway to restore the former hotel which will boast a bar, restaurant and reception when the resort opens in late March, 2018.Landscaping work and cabin construction has started on the Barrier Highway property, which will also feature a swimming pool and facilities for campers and caravaners. The popular Outback Astronomy tourist attraction, which offers guided views of the stars at night, is just 4km away.News of the resort follows twin announcements in March this year that Out of the Ordinary Outback had bought a Broken Hill motel to rebrand it as The Argent and that it would also build a new $750,000 hotel and conference centre at another of its properties, Copper City Motel, in Cobar.The Mt Gipps Hotel property was purchased last year by Out of the Ordinary Outback owner and passionate bush lover, Scott Smith, who dreamt of reviving the abandoned building for the enjoyment of outback holidaymakers.“The old Mt Gipps Hotel is a beautiful heritage building they was crying out for some love and care so our plan to make it the handsome centrepiece of this new outback resort will breathe new life into the building and add colour and interest to holidaymakers travelling through the far west of NSW,” Mr Smith said. “Guests at the Broken Hill Outback Resort will be able to stay amongst the vast frontier country for which the outback is famous, with its big skies and never-ending horizons, with Broken Hill just a 10- minute drive away.”A new website for bookings at the Broken Hill Outback Resort will be launched later this year.Launched in October, 2016, Out of the Ordinary Outback encompasses outback tour company, Tri State Safaris, The Argent motel in Broken Hill, Warrawong on the Darling tourist camp and cabins at Wilcannia, the iconic White Cliffs Underground Motel, Cobar’s Copper City Motel, the Ivanhoe Hotel and an Out of the Ordinary Outback visitor centre in the centre of Broken Hill.For information on Out of the Ordinary Outback, visit www.outoftheordinaryoutback.com.au or call1300 688 225Source = Out of the Ordinary Outback
Bluewaters, the latest island destination and home to Ain Dubai, is now openBluewaters, the latest island destination, is now openSince Ain Dubai, the world’s largest observation wheel, first made its appearance off the coast of Dubai Marina, it has captured the imagination of the city. Making its presence felt, this new landmark-in-the-making has drawn attention to Bluewaters, the island destination by Meraas that has opened its doors to visitors.Channelling a distinct vibe that blends island calm with urban buzz, Bluewaters boasts residential, hospitality and lifestyle and leisure and entertainment spaces set to offer new vantage points and a stunning addition to Dubai’s skyline.Connecting it to the mainland is a sophisticated network of roads, including a direct link to Sheikh Zayed Road, pedestrian access from The Beach opposite JBR and water transport by Dubai’s Roads and Transport Authority (RTA).His Excellency Abdulla Al Habbai, Group Chairman of Meraas, said: “Dubai has always had its eye on the future. As the city develops in line with the vision of the UAE’s leadership, we are constantly striving to achieve greater heights. Meraas has been mindful of this, while also being focused on the nation’s emphasis on its people’s happiness and quality of life. We are set to achieve many engineering feats at Bluewaters and are delivering a destination which will establish a new benchmark for modern design. However, we are proudest of the fact that it will bring people together and create enriching experiences to support the growth of Dubai as a global hub.”Bluewaters features several courtyards, intimate pedestrian spaces and scenic walkways that boast a green and lush landscape. Central and Sunset Avenues gently separate the three zones, while North and South Walks allow pedestrians to stand at the water’s edge and gaze out at the sea, or the city beyond.Urban buzz at The WharfThe Wharf, Bluewaters’ lifestyle retail area set against the backdrop of Ain Dubai, will have 132 retail and dining outlets dotted across the boulevard in low-rise structures. Walkways crisscross the district, shaded by trees, palms and visually striking light features.Food and beverage at The Wharf range from licensed fine-dining concepts at the waterfront to quirky eateries, and an eclectic mix of cafés, restaurants and intimate bistros that serve a wide range of global cuisines. More concepts and stores will be opening gradually over the coming couple of months.Central Avenue borders the landside of The Wharf, while North Walk and Wharf Avenue edge the waterfront, circling Ain Dubai Plaza beneath the observation wheel. A 265-metre pedestrian bridge, The Wharf Link, connects this area to The Beach on the coast of mainland Dubai. Bluewaters Wharf Station will serve as a dock for water transport. It also boasts over 2,000 parking bays, spanning basement and podium levels.Statement residences with a viewBluewaters Residences comprises 10 elegant mid-rise towers featuring 698 apartments, four penthouses and 17 townhouses, set over a podium that offers stunning views of the sea or Ain Dubai. With the initial wave of handovers set for December 2018, the island should welcome its first residents by Q1 2019.Each penthouse enjoys unparalleled 360-degree views of the Arabian Gulf, Dubai Marina, Ain Dubai and Dubai’s skyline, and offers a generous indoor and outdoor space with five bedrooms, en-suite bathrooms and expansive living areas.The interiors at Bluewaters Residences are finished to the highest standards, with a neutral palette and a minimalist style that combines the warmth of Scandinavian wooden floors with the opulence of soft metallic fixtures. Designed for a contemporary lifestyle, the open-plan kitchen features state-of-the-art Italian appliances and seamless worktops. With floor-to-ceiling windows, all apartments offer sweeping views of Ain Dubai, the sea, the greenery or a boulevard.Residential amenities include gymnasiums, swimming pools, landscaped gardens, basketball courts and children’s play areas, in addition to a mosque built in a contemporary style. The residential zone also features a central landscaped podium that fosters community living, and dedicated basement-level parking bays. In addition, the buildings host 32 retail outlets for the convenience of residents.Hotels exuding Bluewaters’ island luxe vibeMeraas aims to pull out all stops to deliver Bluewaters’ unique promise of an island luxe vibe, with unparalleled experiences brought to the region for the first time at the Caesars Palace Bluewaters Dubai, The Residences at Caesars Palace Bluewaters Dubai and Caesars Resort Bluewaters Dubai. These five-star accommodations comprising 495 luxury rooms and 80 serviced apartments will be flanked by a 500-seat theatre, The Rotunda, at one end and a state-of-the-art conference centre, Caesars FORUM, at the other. Complementing the glamorous hospitality offerings will be Cove Beach Dubai, a stunning private beach club. The exclusive 194-key Caesars Palace Bluewaters Dubai – the world’s second Caesars Palace – will feature an outdoor swimming pool, the wellness concept Qua Spa and a fitness centre with stunning views of Ain Dubai as well as six cutting-edge restaurants. The Residences at Caesars Palace Bluewaters Dubai will offer an additional 80 premium serviced apartments, ideal for contemporary living. The second hotel, Caesars Resort Bluewaters Dubai, will comprise 301 rooms, two outdoor swimming pools, six unique restaurants, three meeting rooms equipped to provide business services, and a 750-square metre event hall.Home to Ain DubaiFor visitors keen to get up-close to Ain Dubai and marvel at the spectacular engineering feat that forms the destination’s centrepiece, Bluewaters will provide access to awe-inspiring sights at its base. At 250 metres, it is taller than the 167-metre High Roller in Las Vegas and the 190-metre New York Wheel planned for Staten Island. Ain Dubai will carry up to 1,400 passengers at a time in its 48 double-glazed capsules, offering unforgettable 360-degree views of Dubai. Each leg of the observation wheel stands at a height of 126 metres and is long enough to fit 15 London buses.An international tourist destinationA world-class island destination built to Meraas’ exacting standards in terms of magnitude, design and aesthetics, Bluewaters will add to Dubai’s competitive advantage among global cities. Apart from the spectacular Ain Dubai, it provides comprehensive residential, retail and hospitality options, making Bluewaters a leading tourist destination, as well as a preferred place to live, work and play.Bluewaters is right across Jumeirah Beach Residences and a 20-minute drive from City Walk. Both Dubai International Airport and Al Maktoum Airport can be reached in 30 minutes while Abu Dhabi Airport is just 45 minutes away. Source = Bluewaters
Best of Vietnam on “Lady Get Together” Famil Hoi An’s Japanese covered bridge was just one of the iconic sites visited by the TravelManagers’ famil group – (L-R) back row: Jodie Payne, Maree Evans, KJ Slater (Vietnam Travel and Cruise), Anne-Maree Selmo and Lisa King; front row: Lois Crook, Sally Barron, Kerry Cleasby, Michelle Kingston, Judy Gillings and Huyen Thanh (Vietnam Travel and Cruise)Best of Vietnam on “Lady Get Together” FamilWith the demand for women-only holidays and wellness retreats steadily on the increase, travel companies are looking to tap into this trend by developing products specifically tailored to suit this market. Ten personal travel managers recently spent nine days in Vietnam on a TravelManagers exclusive “Lady Get-Together” famil that was specifically designed to showcase some of the experiences and locations most favoured by the so-called “she-conomy.”Lois Crook, who is TravelManagers’ representative for Engadine, NSW, says prior to the famil she found it difficult to sell Vietnam effectively, and notes that there is no substitute for first-hand experience.“The knowledge I now have of Vietnam as a destination, particularly for solo female travellers and women-only groups, means I can now sell it confidently,” she explains. “I’m already receiving some great enquiry from the content I posted on social media while I was away, and I feel confident of my ability to convert this interest into bookings.”The group, who were escorted by K J Slater, who is the Australian-based Business Development Manager for Vietnam Travel & Cruise, began their itinerary in Hoi An – a charming sixteenth-century merchant town with strong Japanese and Chinese influences. After a walking tour of the old quarter, they were treated to the first of many delicious Vietnamese meals at Anthony Bourdain’s favourite spot to pick up a classic Vietnam baguette: Banh My Phuong.“Hoi An was fantastic,” enthuses Jodie Payne, representative for Cranbrook, QLD. “I loved trying the local food specialities and the town is so beautiful, especially walking along the river at night with all the lanterns glowing. The shopping was pretty fabulous too!”While in Hoi An, the group also had the chance to experience traditional Vietnamese culture beyond the cities, cycling along picturesque country roads to a farming village, sharing in daily farm life and trying their hand at traditional fishing techniques using round and cast nets.From Hoi An, they flew north to the country’s capital of Hanoi, where they had time to explore the city’s Old Quarter on foot, learn about hand-making and dyeing organic cotton and take a cyclo tour of the city before heading to World Heritage-listed Halong Bay for an overnight cruise.“It was so great to get an understanding of the different areas of the bay you can cruise in and the number of boats in each area,” Crook reports. “Our cruise took us to one of the quieter areas of this stunning bay, which made for a much more authentic, less touristy experience – knowledge that will be useful for ensuring that my clients have a wonderful time too.”“It was a magical, luxurious experience,” adds Judy Gillings, TravelManagers’ representative for Bateau Bay, NSW. “We had a wonderful Cruise Director, great food and the cabins were to die for. Personally, I would recommend my clients opt for an extra night here in order to really soak up the incredible scenery.”TravelManagers’ Executive General Manager, Michael Gazal, says the famil was organised in recognition of Vietnam’s increasing popularity to women-only groups, noting its shopping, dining and cultural experiences as particularly appealing to this segment of travellers.“Many of our PTMs are already actively pursuing a range of special interest groups, ranging from cooking schools to health and wellbeing. Recognition that one destination offers a range of itineraries is intrinsic to our PTMs’ ability to tailor diverse and distinct holidays to their clients.”The famil group also visited Sapa, a mountainous region in the northwest of Vietnam that is not far from the Chinese border. Their time here was spent hiking about the rice paddy terraces, shopping in Sapa town’s markets and taking a cable car ride to the peak of Fansipan which, as the highest mountain in Indochina, is known as “the Roof of Indochina”.“Experiencing the cultural side of Vietnam in Sapa added another thread to the fabric of our time in this friendly and diverse country,” says Gilling. “Everywhere we went there was so much to see, from the Old Town of Hoi An, to crazy and amazing Hanoi, and the beauty of Halong Bay.”Both Gilling and Payne agree that they are committed to a return visit to Vietnam: “I cannot wait to go back,” says Payne. “There is something for everyone in this amazing country so I would definitely go back with the family and I also see a girls’ trip, packed with shopping, eating, drinking and massages, in my future!”For more information or to speak to someone confidentially about TravelManagers please contact Suzanne Laister on 1800 019 599 Source = TravelManagers
Research and Markets has announced the release of the ‘Travel and Tourism in Mexico to 2019’ report.The number of inbound tourist arrivals to Mexico is expected to reach 28.8 million by 2019, representative of a CAGR (Compound Annual Growth Rate) of 2.96% during the forecast period. The growth is driven by the influx of tourists from the country’s North American neighbours. A large Mexican population resides in the U.S.; according to the U.S. 2010 Census, 33.7 million people of Mexican origin resided in the US. Mexico stands to gain from the U.S. based diaspora, as it will develop tourism packages targeted at the migrant population. Total inbound tourist expenditure will record a CAGR of 7.33% during the forecast period.Aviation capacity has been increasing. In 2011-2012, LCCs Interjet and Volaris ordered 40 Airbus jets each, and in August 2013, AeroMexico Airlines added one Boeing 787-8 jet to its fleet. Further growth in capacity is expected over the forecast period as AeroMexico plans to add another 19 Boeing 787-8 jets by the end of 2019.Mexico’s hotel market profited from the increased number of domestic and international visitors during the historic period. Total hotel revenue increased at a CAGR of 12.51% from MXN166.5 billion (USD 13.2 billion) in 2010 to MXN266.9 billion (USD 20.8 billion) in 2014, with upscale hotels recording the highest revenue growth at a robust CAGR of 12.83%.Adventure travel’s popularity, and government efforts to develop it as a niche tourism area, has made it important for travel agents and tour operators to be aware of the country’s adventure tourism offerings.The Mexican government has dedicated itself to improving infrastructure through the National Infrastructure Plan (NIP) 2014-2018. The plan includes the extensive development and upgrade of roads, ports, railways, and airports. Improvements to transport infrastructure will support the growth of the travel and tourism sector and its related industries. Private companies are also expected to increase their investments in the tourism sector, to reach a total investment of MXN109.6 billion (USD 8.6 billion) between 2014 and 2016.
in Government, Origination, Secondary Market, Servicing Share Agents & Brokers Attorneys & Title Companies Consumer Financial Protection Bureau Dodd-Frank Federal Reserve House Financial Services Committee Lenders & Servicers Processing Senate Banking Committee Service Providers 2011-11-22 Ryan Schuette November 22, 2011 473 Views New Bill Aims to Create Appeals Process for Bank Complaints If a new bill becomes law, it would establish a central appeals hub for financial institutions with concerns about actions taken by bank examiners, corralling the activities of several regulatory agencies for review.[IMAGE]Reps. “”Shelley Moore Capito””:http://capito.house.gov/ (R-WV) and “”Carolyn Maloney””:http://maloney.house.gov/ (D-NY) recently co-sponsored the Financial Institutions Examination Fairness and Reform Act, or H.R. 3461, which aims to create an Office of Examination Ombudsman responsible for any complaints from financial institutions over the activities of examiners.””This legislation provides financial institutions with a fair and impartial process to appeal examination reports for federal financial regulators with a fair and impartial process to appeal examination reports for federal financial regulators and providing further clarity to regulators,”” Capito said in a statement.Language in the bill charges the ombudsman with investigating complaints, managing the appeal workflow, and checking to make sure that examiners stay within the scope of their legal responsibilities.It would also make the ombudsman a relatively powerful newcomer to the national regulatory scene.[COLUMN_BREAK]If the Senate passed a similar measure, then reconciled it with H.R. 3461 in a way that largely leaves it intact, the ombudsman would assume responsibility for an appeals process whose purview includes the personnel from several agencies, including the “”FDIC””:http://www.fdic.gov/, “”Federal Reserve””:http://www.federalreserve.gov/, and “”Consumer Financial Protection Bureau””:http://www.consumerfinance.gov/.The ombudsman would need to report to several committees once a year, including the “”House Financial Services Committee””:http://financialservices.house.gov/ and “”Senate Banking Committee””:http://banking.senate.gov/public/. The bill requires that it convene meetings open to the public on a quarterly basis.Trade groups from the banking industry responded enthusiastically to the bill’s introduction.””This bill takes a major step toward a more balanced and transparent approach regarding how, and on what basis, decisions are made by the regulatory agencies in the examination process,”” former Gov. “”Frank Keating””:http://www.aba.com/Press+Room/fkeating_bio.htm (R-Oklahoma), president and CEO of the “”American Bankers Association””:http://www.aba.com/default.htm, said in a statement. “”It also addresses some examiner decisions that have effectively and unnecessarily reduced the amount of capital available for increased lending – particularly to small businesses.””We strongly urge its enactment, which would increase banks’ ability to help local businesses grow and create jobs,”” he added.Capito noted that the bill stays true to the spirit of several meetings that divulged “”significant concerns about the fairness of the examination process for financial institutions.””H.R. 3461 follows several hearings by lawmakers concerning the activities of examiners, including a field hearing in Georgia, where some bank leaders complained about the rigor of regulators, and a hearing about the implications of the Dodd-Frank Act more recently.
“”Fannie Mae’s””:http://www.fanniemae.com/portal/index.html CFO is planning to retire from the company by the end of the June, the GSE said in a filing with the Securities and Exchange Commission (SEC).[IMAGE][COLUMN_BREAK]According to the filing, Susan McFarland, who also serves as EVP at Fannie Mae, “”notified the company that she will retire … after a transition period that will begin on the effective date of the appointment of a new Chief Financial Officer by our Board of Directors and end no later than June 30, 2013.””McFarland joined Fannie Mae in July 2011 and has played a role in managing the company’s relationships with government and regulatory agencies, analysts, and banks. She also leads financial planning and analysis, including resource allocation, modeling and analytics, the controller’s office, finance systems and services, and strategic analytics.Prior to joining Fannie Mae, she was with Capital One, where she led a 500-person team responsible for accounting, tax, procurement, and planning.No plans for her successor have been announced at this time. Fannie Mae CFO to Retire by Mid-Year in Data, Government, Origination, Secondary Market, Servicing Agents & Brokers Attorneys & Title Companies Fannie Mae Investors Lenders & Servicers Movers & Shakers Processing Service Providers 2013-02-06 Tory Barringer February 6, 2013 430 Views Share
The “”First National Bank of Long Island””:https://www.fnbli.com/default.aspx (FNBLI) is now using “”Fiserv’s””:http://www.fiserv.com/index.htm Common Origination Platform for its consumer, business, and mortgage lending needs, the companies announced jointly.[IMAGE]””Common Origination Platform has the capabilities financial institutions need as they adjust to the current loan origination landscape. Fiserv will help First National Bank of Long Island to drive down operational costs, reduce redundant processes and comply with increasing regulatory demands,”” said Kevin Collins, division president for lending solutions at Fiserv.Considered by several leading financial firms as “”one of the strongest and best operating banks in the country within its peer group,”” FNBLI has been taking advantage of Fiserv’s solutions since 1987. Through the Common Origination Platform, the bank will now benefit from the planned integration of the lending system into its account processing platform, increasing efficiencies and minimizing employee training time.””We run a lean operation which means that every member of our staff is responsible for all types of lending. By implementing Common Origination Platform from Fiserv, we are giving our staff the best tools available as we provide our customers with the levels of service they have come to expect,”” said Rich Kick, EVP for the bank.Common Origination Platform is just the latest in a long line of Fiserv solutions used by FNBLI. The bank also relies on Fiserv’s Signature account processing platform, Risk Office, and ConvergeIT, among others.””Our time-tested relationship with Fiserv makes us confident that they will continue to invest in technologies like Common Origination Platform and product integrations that make them a strategic partner in our success,”” Kick said. in Data, Government, Origination, Secondary Market, Servicing, Technology September 24, 2013 459 Views Share Long Island Bank Implements Fiserv Origination Platform Agents & Brokers Attorneys & Title Companies Company News Fiserv Investors Lenders & Servicers Processing Service Providers 2013-09-24 Tory Barringer
September 16, 2014 487 Views Share Fannie Mae FHFA Freddie Mac Private-Label Securities Treasury Department 2014-09-16 Tory Barringer As secondary marketing analysts and participants debate over how to revive private-label activity in a market dominated by government-sponsored enterprises, one housing official at the U.S. Treasury Department says the system may be stuck in a catch-22 over agency ratings.Speaking at an event hosted by the Bipartisan Policy Center in Washington, D.C., Michael Stegman, counselor to the Treasury secretary for housing finance policy, explained that lenders are currently reluctant to make non-agency loans without first knowing how they’ll rate on the market. At the same time, credit rating agencies don’t rate mortgage pools until they see the actual loan tape.”The resulting stalemate means more diverse pools will not be brought to market,” he said.The problem is just one in a series of what Stegman referred to as “chicken and the egg paradoxes”—separate problems that contribute to each other. As an example, Stegman gave the stance of the Federal Housing Finance Agency (FHFA), which has said it will not consider lowering the conforming loan limits Fannie Mae and Freddie Mac can accept until it can be sure there is enough private capital to fill the gap in the market.Meanwhile, he said, securities issuers say the private-label segment of the market won’t be able to step in until the government shrinks its presence.Stegman also noted the “chicken and the egg” problem of securities issuers’ reluctance to devote resources to help fix private-label structural problems “when the economics of mortgage funding favor other forms of execution.””This type of short-sighted resource allocation will lengthen the time it takes to address critical investor confidence issues—insufficiency of representation and warranty enforcement mechanisms, opaqueness in servicing practices, and lack of transparency in data and disclosures—and inevitably delay the restart of the PLS market,” he said.These issues come at a time when industry groups and lawmakers are working to push reform that would diminish or dissolve Fannie and Freddie, which together guarantee an estimated 80 percent of new loans. With battles over midterm elections currently raging, analysts predict any progress on that front won’t come until 2015 or even 2016 at the earliest.For now, Stegman said Treasury is working with industry groups, issuers, investors, and other parties to “put private capital back at the center of the housing finance system.” Next on the agenda, he said, are meetings with credit rating agencies he hopes will help illuminate their methodologies.”Treasury believes that by increasing clarity around loss projections and subordination requirements for more diverse pools of collateral, credit rating agencies can stimulate a constructive market dialogue and foster greater confidence in the credit rating process,” he said. in Daily Dose, Government, Headlines, News, Secondary Market Treasury Official Breaks Down Private-Label Challenges
June 14, 2017 691 Views When it comes to homeownership, things can get confusing. In a recent Fannie Mae Perspectives Blog by Housing Access and Affordable Housing Initiatives VP Mike Hernandez, he said almost half of homebuyers were unable to answer questions about key mortgage qualification criteria and consumers are in agreement that homeownership education is helpful and should occur earlier in the process. So what needs to be done in order to educate while not delaying closing?The April 2017 New Residential Construction report put out by the U.S. Census Bureau said in April alone there were 1,229,000 million building permits, 1,172,000 housing starts, and 1,106,000 housing completions—and this still isn’t keeping up with demand. Based on Hernandez’s statistic, that means almost 1.8 million of those homeowners or soon to be homeowners aren’t clear on the financing of their home. Hernandez said letting buyers know that homeownership education is evolving to meet buyers needs and busy lives could help bridge the consumer knowledge gap and in hand smooth the process for lenders. In today’s digital world, there are a growing number of homeownership education mediums, such as Fannie Mae’s Framework, that allow consumers to educate themselves on the go.Hernandez said homeownership education helps in three main ways. It helps the buyer be more prepared by teaching them how to decide on a budget based on the home inspection and know what documents to have together. This also helps lenders save time when the buyer is trying to qualify for a mortgage. Education makes sure the buyer is knowledgeable on what modifications or maintenance to do in their home to control and sustain their investment. Lastly, it gives the homebuyer resilience. Most courses include access to counseling after the purchase of the home, helping buyers avoid common issues.“The reality is, no matter how good the preparation, circumstances will go south for some borrowers,” Hernandez said. “For the problems that can’t be avoided, education can help borrowers manage the consequences and recover quickly.” Fannie Mae Homebuyer Education 2017-06-14 Brianna Gilpin in Daily Dose, Featured, News, Servicing Report Says Half of Homebuyers Aren’t Mortgage Knowledgeable Share
Share MReport Online Editor Brianna Gilpin speaks with Neil Sherman, Managing Partner at Schneiderman & Sherman, to discuss getting involved and staying relevant in the mortgage industry by keeping abreast of the latest news and being involved in networking groups. MReport Exclusive: Neil Sherman of Schneiderman and Sherman Mortgage Industry 2017-10-09 Brianna Gilpin in Daily Dose, Data, Featured, Headlines, News October 9, 2017 556 Views
Economy Freddie Mac Growth Housing Market indicators Price 2018-01-22 Staff Writer Will the Housing Market Maintain Momentum? January 22, 2018 560 Views in Daily Dose, Featured, Government, News Low mortgage rates and accelerated economic growth has meant that the housing market has started the year with a bang. But will it maintain this momentum? According to Freddie Mac’s January Outlook, a monthly report that looks at the housing market and economic growth, although the housing markets have been improving every year for nearly a decade, it could see a slight moderation in activity through the next two years.“However, there are factors worth keeping an eye on in 2018, namely, is another recession on the horizon, how will housing markets respond to declining housing affordability and how will young adults move the housing market―more are living at home with their parents today than in 2000,” said Len Kiefer, Deputy Chief Economist at Freddie Mac.The report indicated that home sales, which stood at 6.35 million last month, housing construction at 1.3 million starts, and house prices that saw a 5.7 percent increase are all expected to be modestly higher in 2018 relative to 2017.However, the report indicated that the economy, even though it would remain positive, would not be able to keep pace with home prices, resulting in declining affordability, that could in turn lead to slow housing market activity.The report also indicated that with modest income growth, the high cost of living and high student debt meant that young adults were struggling to move out of their parents’ homes and forming their own households. Although a recession does not appear imminent, we will keep an eye on potential recession indicators, including the flattening (and potential inversion) of the U.S. Treasury yield curve and the current rate of unemployment (4.1 percent in December 2017). History has shown that an inverted yield curve and an unemployment rate below the natural rate usually leads to a recession in two-to-three years, the report said. Share
Black Knight Inc Expedite Close Lenders Lending Transaction Real Estate Transaction Servicers Solution Streamline technology 2018-02-05 Radhika Ojha in News, Technology February 5, 2018 700 Views Florida-based Black Knight Inc., a software, data, and analytics solutions provider for the mortgage and real estate industry, announced on Monday that the first phase of its new solution LoanSphere Expedite Close would be available this year. The solution provides an electronic closing fulfillment process, enabling seamless and secure online interactions between the real estate agent, lender, settlement agent, and consumer from contract through the closing.“In a real estate transaction process, roughly a third of real estate transactions don’t even involve a loan. [Expedite Close] is a little different from its peers in that we are looking to bring together all participants of a transaction, be it the consumer, the realtor, the broker, the settlement agent or closer, and all the way through the investor and servicer,” Andy Crisenbery, SVP and Managing Director of Black Knight’s Lending Solutions Division told MReport.The solution includes enhanced workflow and decisioning capabilities as well as increased automation to support the full closing process. It provides a common workspace for all the participants of a transaction and allows the data and supplementing artefacts to follow along each particular of the transaction. “We allow access to the workspace to either read data and documents out or to provide data and documents directly from source systems, depending upon who that person is in that transaction,” said Crisenbery. Expedite Close is capable of integrating with existing systems and technologies to enhance and streamline them. “We are not looking to change the technology that already may be in place. Instead, we are looking to integrate those technologies together so that all parties have an agnostic view or approach to access the data,” Crisenbery explained. “For example, in case of a lending transaction, if the lender already has an established consumer portal then that consumer portal can have access to the data and document artefacts in the system through Expedite Close.”The first phase of the solution will be available in Q12018. “We already have obligations and commitments to provide the first phase, that is the Hybrid Close, in the first quarter of 2018. Our future phases to extend these partnerships and include vendor capabilities will be in place by Q2 and Q3 of 2018,” Crisenbery said. Now, a New Solution to Streamline Real Estate Transactions Share
AYANA Resort & SpaRIMBA Book by 14 July 2017 to travel to Bali between 20 June and 14 July 2017, and enjoy the special offers of AYANA Resort & Spa’s ‘Lebaran Escape’.Lebaran, also known as Idul Fitri, is a three day celebration at the end of Ramadan, and AYANA’s special offer falls during this Bali holiday period (Lebaran is on 25 June in 2017 and is followed by three holidays from 28 June to 30 June inclusive.)Lebaran Escape is valid for minimum stays of two nights and includes daily buffet breakfast and and Aquatonic Seawater Therapy Pool Treatment from USD$170 per night at RIMBA, USD$249 per night at AYANA and USD$700 per night at THE VILLAS.Add one night or more to receive priority access to Rock Bar BALI, including an exclusive table reservation for sunset and complimentary mocktail for two. See website for full terms & conditions.
To celebrate the launch of the 2019 Great Train Journeys, Rail Plus invites agents to participate in the ‘Count the Beds’ contest to win prizes including 2 x 1st Class 8 Day Consecutive Swiss Travel Pass; 1 x $500 gift card of the winner’s choosing; and 4 x $100 Coles/Myer or Countdown gift cards.To be in the running agents must order the 2019 brochure via TIFS/BrochureNet or download it HERE; then count the number of beds in the brochure; and submit their answer to firstname.lastname@example.org by Friday 28 September 2018.Agents should also note that participating in this competition will earn them an extra 20 points in the Module 99 section of the Rail Expert program. agentsBrochuresGreat Train JourneysIncentiverailRail Plus
D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Top Stories Nevada officials reach out to D-backs on potential relocation What an MLB source said about the D-backs’ trade haul for Greinke Comments Share When the clock strikes 11:59 p.m. eastern standard time, 9:59 p.m. Arizona time, Thursday night it might as well be the speedometer of a DeLorean that reads 88 miles-an-hour. That’s because at that moment, if no new collective bargaining agreement has been reached, the National Football League will be transported back to somewhere it hasn’t been since 1987, the middle of a work stoppage.While the circumstances are drastically different this time around, the premise is the same. A disagreement between players and owners will mean that professional football, at least the kind America religiously watches, will be placed on hold until the disagreement is settled. Cardinals expect improving Murphy to contribute right away
The Cardinals didn’t need much time to find a replacement for Greg Toler, signing veteran Fred Bennett late Monday.Bennett, 27, has played in Houston, San Diego and, most recently, Cincinnati during his four NFL seasons. He’s recorded 106 tackles and five interceptions. Bennett was originally drafted in the fourth round of the 2007 draft by the Texans.The Cardinals were looking for a cornerback after Toler was placed on injured reserve due to a torn ACL in his left knee. 0 Comments Share Top Stories D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Nevada officials reach out to D-backs on potential relocation What an MLB source said about the D-backs’ trade haul for Greinke Cardinals expect improving Murphy to contribute right away
After missing the past two weeks due to a hamstring injuryhe has been battling all season, Todd Heap was back on thefield Sunday for the Cardinals 23-20 victory over the St.Louis Rams. Heap told Arizona Sports 620’s Burns and Gambo he haddifficulty running in the open field and turning on anextra gear he is used to, but he was able to do shortermovements like blocking at the line of scrimmage.Running back Beanie Wells probably didn’t notice anythingwrong with Heap’s play on the line, as he ran for aCardinals single-game record 228 rushing yards. “It was a lot of fun,” Heap said. “We haven’t had thatmuch success running the ball this year.”Heap said the team set a goal for at least 125 yards inthe ground game against the Rams. Still, Heap has been known as a receiving tight end, butthe injuries have held him back all season long.“I’m not 100 percent yet, that’s the most frustratingthing,” Heap said. “I’ve seen guys go through it beforeand I’ve never been through one quite like this.”The hardest part for Heap has been being able to know whathe can and cannot do.“And that’s the most frustrating part is you don’t knowhow far to take it where you’re not going to re-injure it,you’re not going to set yourself back another threeweeks.” What an MLB source said about the D-backs’ trade haul for Greinke Comments Share Nevada officials reach out to D-backs on potential relocation Cardinals expect improving Murphy to contribute right away Top Stories D-backs president Derrick Hall: Franchise ‘still focused on Arizona’
Grace expects Greinke trade to have emotional impact Cardinals tight end Jeff King, though, thinks the solution to the woes on the offensive line may already be on the roster.“I don’t think our offensive line is as far off as people think with the emergence of Nate Potter and Bobby Massie,” he said while co-hosting Arizona Sports 620’s Doug and Wolf Wednesday.Potter, a seventh round pick out of Boise State, and Massie, a fourth round selection out of Mississippi, both got significant playing time as rookies. Massie started at right tackle from day one, while Potter was insterted into the lineup Week 9 against Green Bay. Each had varying levels of success, with Massie making notable improvement as the season wore on.“If you go back and look at the way Bobby Massie played against Chris Long the first time we played St. Louis at St. Louis on that Thursday night, and then we played them a couple weeks later here in Arizona, two different players,” King said. “He grew so much and had so much thrown at him through 16 games against some really good players that you can’t help but to get better.”King said he believes Massie will turn out to be a good player, but his highest praise may have been for Potter. The Arizona Cardinals led the NFL in sacks allowed in 2012 with a total of 58.That’s not good.The team’s much-maligned offensive line suffered a rash of injuries as well as ineffectiveness, and it led to the team struggling in both the running and passing games. As such, conventional wisdom says the Cardinals should address the shortcomings via the NFL Draft, perhaps even with their first round pick. Former Cardinals kicker Phil Dawson retires Top Stories “Nate Potter reminds me a lot of Jordan Gross,” he said. Gross was selected by the Carolina Panthers with the eighth pick in the 2003 NFL Draft. He’s a two-time Pro Bowler and was a teammate of King’s for five seasons.“Just about the way that he’s a technician and the way he goes about it,” King said of the similarities. “Obviously he’s got a lot of growing to do, a lot of growing to do.”Given that, should the Cardinals look to April’s draft as a way to fix the line? “In my opinion, no,” King said. “Just by watching those guys play, the improvement that I saw, knowing how they prepared,” he said.But King did offer one caveat.“Do we all need to play better up front,” he said. “Absolutely, there’s no doubt about that.” The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Derrick Hall satisfied with D-backs’ buying and selling Comments Share