Standingonly airfares a possibility for Tiger Airways

first_imgTiger Airways may follow in the footsteps of UK budget airline Ryanair by introducing a “standing-only” option for passengers. Commenting on the idea, Tiger Airways director, Steve Burns, said, “We continue to look at ways of making our operation more efficient so we can offer even lower fares than we do now. “Everything we do is about offering the lowest possible fare then allowing our customers to choose what, if any, extras they wish to pay for.” Jetstar spokesman Simon Westaway said that Jetstar would never consider vertical seating or charging passenger to use the bathroom. “A lot of Jetstar destinations are over two hours and longer, so the stand up seating idea doesn’t register on our radar. We have a completely different business model to Ryanair,” he said. “It’s an interesting concept but I can’t see how this would fly in our part of the world.” Ryanair’s CEO Michael O’Leary said his proposed “vertical seats” would cost between $7 and $14 per passenger and they would be available in a special standing-room only sections in the back of flights lasting an hour or possibly longer.Mr Burns welcomed the new seating proposal saying Tiger Airways wouldn’t rule anything out before considering all the options.“Selling cheap fares is easy. Doing it profitably means having to continually innovate and evolve so that the cost base continues to reduce.”Mr O’Leary said that Ryanair will conduct safety testing for the new vertical seats in 2011.”We’ve been looking at is taking out the last ten rows of seats so we will have 15 rows of seats and the equivalent of ten rows of standing area,” he said.Civil Aviation Authority officials have expressed their doubts that the revolutionary new vertical seats would pass safety regulations.”It’s aviation law that people have to have a seat-belt on from take-off and landing so they would have to be in a seat. I don’t know how Mr O’Leary would get around that one,” said a spokesman. <a href=”http://www.etbtravelnews.global/click/21d8b/” target=”_blank”><img src=”http://adsvr.travelads.biz/www/delivery/avw.php?zoneid=10&amp;cb=INSERT_RANDOM_NUMBER_HERE&amp;n=a5c63036″ border=”0″ alt=””></a> Source = e-Travel Blackboard: C.Flast_img read more

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Bikinis and booze welcome in Egypt tourism minister

first_imgEgypt’s aim to lure 30 million tourists by 2022 a “national priority”. Tourists visiting Islamist-ruled Egypt are welcome to pop into a bikini and down an alcoholic beverage or two, the country’s tourism minister has said.As Egypt fights to regain the ground lost in visitor arrivals since the 2011 fall of President Hosni Mubarak and the country’s instability since then, it has attempted to shrug off its perceived conservative coat.”Bikinis are welcome in Egypt and booze is still being served,” the Guardian reported Egyptian tourism minister Hisham Zazou as saying.The comments were made in an attempt to dismiss calls by some radical Salafi Muslim groups wanting to ban both bikinis and booze.”We had talks with these Salafi groups and now they understand the importance of the tourism sector, but still you have some individuals that are not from the leadership saying these things,” Mr Zazou said.According to Mr Zazou, Egypt has set a goal to boost tourism numbers by 20 percent, with a long-term target of  30 million tourists 2022.The first quarter of 2013 has seen Egypt welcome some three million tourists, 14.6 percent growth over the same period in 2012.Source = e-Travel Blackboard: GAlast_img read more

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China Southern increases Brisbane services

first_imgChina Southern Airlines has confirmed it will increase its services between Guangzhou and Brisbane up to five times weekly from 26 June this year.Following its decision to introduce its new A330-223 aircraft on the route earlier this year, the airline said depending on the success of the service, it could even consider increasing flights to Brisbane to daily or even double daily.The airline’s regional Australia/New Zealand general manager Henry He said extra capacity would help fill the “back-fill” of Australian travellers wanting to visit China or fly via Guangzhou.  According to the airline, currently almost 200,000 Chinese visitors fly into Queensland annually, with China Southern carrying up to 25 percent of the load.“Our aim always is to be aspirational,” Mr He explained.“But how aspirational depends on the level of support we get from the industry and present growth rates continuing to increase.”China Southern currently flies 38 weekly flights to the region and plans to increase that number to 55 flights by 2015.Late last month, the carrier also announced it would increase capacity between Sydney and Guangzhou, replacing its A330-300 aircraft with the A380.Click here for more information.Source = e-Travel Blackboard: NJ China Southern considers double daily services to Brisbane. Image: wikimedialast_img read more

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Etihad Airways Alitalia named carriers for Expo 2015

first_imgYesterday saw the announcement of the official global airline carriers for Expo 2015, with Alitalia and Etihad Airways named.The upcoming Universal Exposition will be held in Milan from the 1st of May to 31st of October 2015, during which an estimated 20 million visitors are expected to attend.Approximately 7.6 million visitors will travel to Milan by air, as such Alitalia and Etihad Airways will offer almost 100 flights per day to and from Milan.Alitalia chief executive officer, Gabriele Del Torchio said that the pair of airlines will link 866 cities across the globe to Milan, through 125 direct flights and 741 via one-stop connections.“The choice reaffirms Alitalia’s important and strategic role as an infrastructural asset in Italy’s development and its commitment to travel and tourism,” Mr Del Torchio said.Etihad Airways president and chief executive officer, James Hogan said the opportunity is a chance to extend their codeshare agreement, whilst promoting the Expo.“Through our vast international route network, Etihad Airways will play a leading role in promoting Expo 2015 to a global audience, focusing on key markets across the Gulf region, Australia, Asia, and the Subcontinent,” Mr Hogan said.Etihad and Altalia will soon develop a number of packages and fares to help generate momentum for the expo over the coming months.Source = ETB News: Lewis Wisemanlast_img read more

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RACV Resorts topping the nation

first_imgSource = RACV Resorts RACV Resorts topping the nationRACV Resorts topping the nationRACV’s leisure portfolio has once again been recognised by Trip Adviser as among the best in Australia. RACV’s Torquay Resort was included in the Top 25 Hotels in Australia, and both our Noosa and Torquay Resorts were named in the Top 25 Luxury Hotels in Australia.“Competition in the resort sector has intensified, and it is great to see recognition of our efforts to ensure that RACV’s Resorts maintain an industry leading position.”, said Craig Peachey, Executive General Manager of Leisure for RACV.“The fact that RACV Noosa and RACV Torquay Resorts are ranked so highly year after year is testament to the dedication our staff have to consistently deliver experiences of the highest quality to our members and guests. Guests recognise the service provided by our fantastic resorts team, and this personalised service is very important to us.”, Mr Peachey said.Next year RACV will open its new Cape Schanck Resort facilities on the Mornington Peninsula, which will add a new level of luxury to RACV’s already significant Resorts portfolio. The expanded Cape Schanck Resort will feature 204 accommodation rooms and suites, day spa facilities, an 18 hole championship golf course, plus flexible conference and event facilities capable of seating up to 300 guests banquet style.“These awards, coupled with our ongoing investment in our Resorts portfolio demonstrate RACV’s commitment to providing the best leisure experiences for all Victorians”, Mr Peachey said.last_img read more

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Uttarakhand Tourism Minister meets Dr Mahesh Sharma to seek assistance for tourism

first_imgThe Union Minister of State for Tourism (Independent Charge), Culture (Independent Charge) and Civil Aviation, Dr Mahesh Sharma held a meeting with Tourism Minister of Uttarakhand, Dinesh Dhanai in New Delhi. The meeting was a follow up of the earlier meetings to seek central assistance for development of tourism in the state of Uttarakhand.Dinesh Dhanai said that the state government is keen to finish the ongoing tourism related infrastructure projects at the earliest to promote tourism in the state. Dinesh Dhanai requested Dr Mahesh Sharma to allow diversion of funds released earlier for tourism projects which could not be undertaken to those incomplete projects started under the scheme of PIDDC but waiting for release of outstanding funds. Uttarakhand Tourism Development Board has funds to the tune of Rs 14.39 crore which can be useful for those projects which are 60-70% completed, he added. Dinesh Dhanai also requested that the project of constructing a ropeway between Tehri lake and New Tehri to be included in the first phase of Swadesh Darshan Scheme itself.Dr Mahesh Sharma assured that the demands of the state government will be examined and all possible assistance will be extended to help the state of Uttarakhand for development of tourism.Senior officials of the Ministry of Tourism and State Government were also present at the meeting.last_img read more

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BuyForexOnline unveils online remittance services for students

first_imgBuyForexOnline.com recently announced the launch of convenient and affordable online remittance services for Indian students who are planning to study abroad.The wire transfer services of BuyForexOnline allow students to make university payments online at attractive rates. Wire transfer services are available in 26 currencies to 200+ countries worldwide and are implemented within 48 hours.“Wire transfers or remittances are a popular method of transferring funds abroad using the SWIFT platform. To remit money, one needs to have a sending bank account and a receiving Bank account. The prevailing Forex rate viewed online will be frozen at the time of placing the order and the sending fee levied by the sending bank and a Beneficiary fee or BEN charges levied by the receiving Bank are also transparently displayed,” said Ananth Reddy, Founder and Managing Director, BuyForexOnline.“So for instance if you are sending $10,000 abroad through a bank or offline vendors, you might be charged a sending fee of Rs 2,500 and BEN charges of up to $50 and be offered rates at a margins of up to four percent, which all could add up to a cost of around Rs 30,000! We are trying to make the process affordable by offering the lowest wire transfer rates and zero sending fee, so a similar remittance transaction online with us would cost the student just about Rs 5,000 or less,” added Reddy.last_img read more

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Tourism Authority of Thailand conducts roadshows in Delhi and Amritsar

first_imgTourism Authority of Thailand organised its annual ‘Amazing Thailand Roadshow to India’ in New Delhi and Amritsar this year. The roadshow was held in New Delhi on July 26 followed by Amritsar on July 29.35 sellers including representatives of hotels, resorts, attractions, DMCs and airlines from Thailand participated in the roadshow to showcase and promote their products to the travel trade in both cities. Apart from travel agents and tour operators, the roadshow was attended by top wedding planners, travel media publications and local newspapers.The evening started with a B2B session between the sellers from Thailand and buyers from India that included the travel agents, tour operators and wedding planners from Delhi and Amritsar respectively. This was followed by a destination presentation by Isra Stapanaseth, Director, Tourism Authority of Thailand – New Delhi. The presentation focussed on promoting new destinations, products and experiences in Thailand for the Indian travellers.The delegation from Thailand was led by Charun Ohnmee, Deputy Governor for Policy and Planning, Tourism Authority of Thailand. Talking about the roadshow, Ohnmee said, “We are delighted to organise the Amazing Thailand Roadshow to India 2019, in the capital city of New Delhi and take it forward to the Holy City of Amritsar. Thailand is already a very popular holiday and wedding celebration destination for people from North India. Thailand has welcomed around 978,751 Indians to Thailand from January to June 2019, which is a remarkable increase of 24% as compared to the same period last year. With the support of the Indian travel trade and media, we are confident of reaching our target of 2 million Indian tourists to Thailand by the end of 2019.”last_img read more

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Fed Lower Jumbo Loan Limits Unlikely to Crimp Markets

first_img Share in Data, Government, Origination, Secondary Market, Servicing Ahead of lower limits for conforming jumbo loans, nearly assured in October as Congress disagrees even over stopgap spending bills, the “”Federal Reserve””:http://www.federalreserve.gov/ offered a revealing look at the market Friday by releasing a report on the health of the housing market. The consensus: falling limits will likely only nudge the jumbo loan market, not tip it over, as some critics claim.[IMAGE]Culling information from data obtained under the Home Mortgage Disclosure Act, the Fed summed up the state of the housing and mortgage markets by issuing “”_The Mortgage Market in 2010_””:http://federalreserve.gov/pubs/bulletin/2011/pdf/2010_HMDA.pdf.The Fed found that the current criteria for a jumbo fences in only 1.3 percent of all loans backed by GSEs “”Fannie Mae””:http://www.fanniemae.com/kb/index?page=home and “”Freddie Mac””:http://www.freddiemac.com/. Homeowners with jumbo mortgages qualify for federal insurance if their loans stay under a $729,750 threshold ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a benefit that lawmakers extended in order to boost sagging markets at the height of the financial crisis in 2008.Even so, data uncovered by the central bank revealed that some 2.1 percent of 2010 mortgages, alongside 2.4 percent of refinance loans, would see some pushback from the change once Congress allows the limits to expire.The Fed noted in the report that it is “”difficult to know what options will be available for homeowners no longer eligible under the GSE or [“”Federal Housing Administration””:http://portal.hud.gov/hudportal/HUD?src=/federal_housing_administration] programs.””The report cited “”HUD””:http://portal.hud.gov/portal/page/portal/HUD analyses documenting about 669 counties with jumbo loans likely to feel pinched once the limits depress. Another study by the “”Federal Housing Finance Agency””:http://www.fhfa.gov/ fixed the number at 250 counties.[COLUMN_BREAK]The conforming-jumbo loan issue remains a hot-button topic among lawmakers, policymakers, and industry insiders, who say the limits are likely to fall in October. In February the Obama administration issued a white paper advocating for an end to the higher limit, which would return the jumbo threshold for federal insurance to $625,500.More recently, “”Sen. Richard Shelby””:http://shelby.senate.gov/public/ (R-Alabama), criticized the role of the government in mortgage markets at a Senate hearing, alleging higher loan limits created “”a lot of damage,”” according to “”Dow Jones Newswires””:http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=201109221559dowjonesdjonline000519&title=housing-lobby-in-rare-defeat-on-mortgage-limits.Despite sizzling rhetoric, the Fed satisfied advocates for federal stimulus by portraying the homebuyer market as one that would have lost big, along with a number of industry sectors, should Congress have failed to raise the threshold for jumbos.In absence of higher limits, the national jumbo loan market may not have swelled by 50 percent, alongside 63-percent boosts in the refinance jumbo market, as the financial crisis lessened.The Fed said that lenders in affected counties may not have been able to service the loans, likely resulting in turned-away homebuyers or loans that never happened.Not all conclusions from the report favored government activity in the mortgage markets.The Fed said that the federal homebuyer tax credit, enacted by officials eager for solutions, “”likely stimulated homebuying in 2009,”” but led to a “”sharp falloff in the monthly flow of new home-purchase originations”” once their expiration came in 2010.Speaking to _MReport_ for a past story, “”Maureen Maitland””:http://www.housingviews.com/author/maureen_maitland/, VP of indices for “”Standard & Poor’s””:http://www.standardandpoors.com/home/en/us, described the credits as “”artificial stimulus”” responsible for creating a blip in the markets that inadvertently raised consumer confidence and industry expectations.She faulted the tax credit for leaving market watchers with the impression that the economy has entered a double-dip recession, with home sales plunging last year.””You need to do more than just throw money at problems,”” Maitland said. “”Jobs and supply-demand factors need to be in sync.”” Fed: Lower Jumbo Loan Limits Unlikely to Crimp Marketscenter_img September 23, 2011 430 Views Agents & Brokers Attorneys & Title Companies Fannie Mae Federal Reserve FHA FHFA First-Time Homebuyers Freddie Mac Home Prices Home Sales Housing Affordability HUD Lenders & Servicers Mortgage Applications Processing Refinance S & P Index Service Providers 2011-09-23 Ryan Schuettelast_img read more

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Hollywood Legends List Mullholland Drive Estate for 6995M

first_img in Data, Government, Origination, Secondary Market, Servicing, Technology Share June 27, 2012 432 Views Agents & Brokers Attorneys & Title Companies Celebrity Homes Company News Investors Lenders & Servicers Processing Service Providers 2012-06-27 Abby Gregorycenter_img Legendary Hollywood couple Warren Beatty and Annette Bening are selling their Beverly Hills home. The Beatty-Benings put their luxury pad up for for lease last year, but after failing to snag an interested tenant, they’ve listed the property, which is located on famed Mullholland Drive, for $6.995 million. According to “”RealEstalker””:http://realestalker.blogspot.com/2012/06/update-beatty-benings-decide-to-sell.html, the 10,594-square-foot house features stunning news of the San Fernando Valley, a large swimming pool and spa area, and detached guest quarters. The website also revealed that the couple is rumored to have initiated the sale following a decision to move back into their previous residence, a 6.7-acre estate only two miles away from their current address. [COLUMN_BREAK][IMAGE] Hollywood Legends List Mullholland Drive Estate for $6.995Mlast_img read more

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Ally Exploring Options to Cut Remaining Mortgage Business

first_imgAlly Exploring Options to Cut Remaining Mortgage Business “”Ally Bank””:http://www.ally.com/ announced it has launched a “”process to explore strategic alternatives for its agency mortgage servicing rights (MSR) portfolio and its business lending operations.””[IMAGE]The direct banking subsidiary of Ally Financial Inc. pushed for its mortgage lending unit, Residential Capital (ResCap), to declare bankruptcy earlier this year. A bankruptcy auction was held for ResCap’s portfolio this week. “”Ocwen””:http://www.ocwen.com/ acquired the MSR with a “”$3 billion bid””:https://themreport.com/articles/ocwen-wins-auction-to-buy-out-rescap-portfolio-2012-10-26.The announcement signals another step in Ally’s shift away from the housing market. In November 2011, the bank began to reduce its correspondent originations business to focus on a smaller group of strategic clients, and in July 2012, it announced its intent to exit the warehouse lending business by the end of the year. By selling its lending business, Ally also hopes to speed up its repayment of government bailout money totaling $17 billion.Ally’s agency MSR portfolio had an unpaid principal balance of approximately $122 billion in Q3.In a statement, Ally president and CEO Barbara Yastine said the bank’s goal going forward is to focus in its banking and auto finance operations.””After careful consideration, the decision was made to explore alternatives for the agency MSR portfolio and the business lending operation as they are no longer strategic activities for the Bank,”” Yastine said. “”We are focused on exploring the best option for these activities going forward.””Ally will continue to originate for its own portfolio “”a modest level of high-quality residential jumbo mortgages”” through correspondents and wholesale brokers, the bank said. October 26, 2012 485 Views in Government, Origination, Secondary Market, Servicingcenter_img Share Acquisitions Agents & Brokers Ally Attorneys & Title Companies Company News Investors Lenders & Servicers Mortgage Servicing Rights Residential Capital Service Providers 2012-10-26 Tory Barringerlast_img read more

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Fannie Mae Maintains Forecast of Slow Growth

first_img Agents & Brokers Attorneys & Title Companies Fannie Mae Federal Reserve Home Prices Investors Lenders & Servicers Refinance Service Providers 2013-08-21 Tory Barringer in Data, Origination Share Fannie Mae Maintains Forecast of Slow Growthcenter_img August 21, 2013 411 Views After trudging along throughout the first half of the year, economic growth is gaining momentum as expected, according to an Economic and Housing Outlook from “”Fannie Mae’s””:http://www.fanniemae.com/portal/index.html Economic & Strategic Research (ESR) group.[IMAGE]””Our macroeconomic and housing forecast shows very little change from July, and the steady pickup during the past few months validates our expectations for the second half of the year,”” said Fannie Mae chief economist Doug Duncan.Looking ahead, the group expects GDP growth will average 2.0 percent for the year, accelerating to 2.6 percent in 2014 as fiscal drags peel away and the housing recovery continues.””The biggest risk to this forecast is the expected reduction in the Federal Reserve’s asset purchases, which would likely put additional upward pressure on interest rates and lead to some volatility in capital markets,”” Duncan explained. “”Although the nature and timing of the tapering are still to be determined, we continue to expect the Fed will scale back its asset purchases and end the program by spring.””Duncan also noted the country “”may see some fiscal tightening this fall as the debate over federal spending and the debt ceiling takes place.””However, while the financial picture isn’t completely clear, sustainable growth in consumer spending and the employment sector are expected to help offset downside risks from the Fed’s tapering of purchases.At the same time, the group remarked that “”[t]he housing recovery appears to have weathered some of the uncertainty, although additional growth is expected to be modest rather than robust while the market awaits an easing of credit conditions in the presence of rising interest rates.””For now, the team is sticking to its forecast of continued improvements in home prices, though the pace of growth is expected to slow significantly from the last year.Originations are expected to drop off from an estimated $2.03 trillion in 2012 to $1.75 trillion in 2013 and $1.09 trillion next year. In that time, refinance volume is projected to drop off to $345 billion by the end of 2014–less than half of expected purchase origination volume.last_img read more

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UWM Launches NonQM Program for Jumbo Loan Borrowers

first_imgUWM Launches Non-QM Program for Jumbo Loan Borrowers Company News Jumbo Loans Qualified Mortgage United Wholesale Mortgage 2014-04-15 Tory Barringer Share April 15, 2014 510 Views center_img in Headlines, News, Origination United Wholesale Mortgage (UWM), one of the nation’s largest wholesale lenders, announced the launch of its new ‘Big & Easy Plus’ program designed for jumbo loans that don’t fit the Qualified Mortgage (QM) criteria.According to the company, the program allows for a debt-to-income ratio (DTI) range of 43.01–49 percent; loan amounts ranging from $417,001–$1.5 million; FICO scores of 740 and higher; and loan-to-value ratios as high as 75 percent.“There are a lot of borrowers that currently do not fit into the QM category,” said Mat Ishbia, president and CEO of Michigan-based UWM. “Our Big & Easy Plus program gives UWM clients the flexibility to originate a ‘make sense’ loan for Jumbo borrowers with higher DTIs, helping expand their pipelines.”UWM’s originators can log into the company’s broker portal, EASE, or access its recently launched mobile app to review the full set of guidelines and parameters.last_img read more

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Regulators Close Down Illinois Bank

first_imgRegulators Close Down Illinois Bank in Daily Dose, Government, Headlines, News Share Only a week after the latest collapse, federal regulators announced the closure of yet another government-insured bank, bringing the year-to-date tally to 16.The Office of the Comptroller of the Currency (OCC) announced Friday the shuttering of the National Republic Bank of Chicago, appointing FDIC as receiver.As of the end of Q2, National Republic Bank had approximately $915.3 million in total deposits and $954.4 million in assets. To protect depositors, FDIC arranged a purchase and assumption agreement with the Dallas-based State Bank of Texas, which has taken on all of National Republic Bank’s deposits and nearly two-thirds of its assets. FDIC will retain the remaining assets for disposition in the future.The shutdown comes months after the agency ordered the bank to dismiss both its chairman/CEO and president as it slipped into an undercapitalized position. OCC also directed National Republic Bank to cooperate with regulators and make preparations to minimize the hit to FDIC’s insurance fund in the event of its closure.FDIC estimates the cost of the collapse to its Deposit Insurance Fund will be $111.6 million.National Republic Bank marks Illinois’ fifth bank failure so far this year, making the state by far the most active. Three of those closings were in the Chicago area, including the last one in July.center_img Bank Failure FDIC OCC 2014-10-27 Tory Barringer October 27, 2014 450 Views last_img read more

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Tech Veteran Joins LenderLive as CIO

first_img in Headlines, News, Technology January 6, 2015 474 Views Tech Veteran Joins LenderLive as CIO Sharecenter_img LenderLive Network Movers & Shakers 2015-01-06 Tory Barringer LenderLive Network, an end-to-end mortgage services provider with headquarters in Denver, announced the hiring of Lorie Helms as chief information officer (CIO).A seasoned technology management veteran, Helms brings more than 17 years of experience to her new post at LenderLive. Before joining the company, she served as chief technology officer for Stewart Lender Services, where her responsibilities included oversight of application development, reporting and analytics, project management, deal implementation, infrastructure, and the firm’s help desk.Prior to that, she worked as VP of information development at Avelo Mortgage and as director of development at Optum, Inc.For her work in information and technology, Helms was named as a finalist for the Denver Business Journal’s 2013 CIO of the Year Award.At LenderLive, she will take charge in leading and managing the company’s IT infrastructure, network, and data security. She will also provide oversight for corporate and divisional application development.”Because technology is the backbone of everything LenderLive does, it is essential that our platform remains robust, secure and state-of-the-art,” said LenderLive CEO Rick Seehausen. “Lorie’s experience will enable us to enhance our IT architecture, infrastructure and security—improving processes, productivity and the client experience.”last_img read more

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Guardian Mortgage Adds New SVP of Correspondent Lending

first_img Share Guardian Mortgage Company SVP of Correspondent Lending 2015-12-07 Staff Writer Guardian Mortgage Adds New SVP of Correspondent Lending Donna GreinerGuardian Mortgage recently added Donna Greiner as SVP of Correspondent Lending in its Plano, Texas office.Greiner’s mortgage career includes over 25 years’ experience in loan origination, affiliated business arrangements, multi-state lending, construction lending, and multi-state REO sales.Greiner expressed that she is thrilled to be part of Guardian Mortgage and enjoys “being associated with a company that consistently demonstrates high standards and a commitment to quality, service and reputation.”She also noted that she intends to “provide the best customer service possible and by forming great relationships within the industry.”In line with Guardian Mortgage’s values, her approach to serving her customers is simple, yet effective: “Be available, listen to the customer and take the extra step.””I focus my time and attention on things I can control and build in downtime for recharging,” Greiner said.center_img in Headlines, News, Origination December 7, 2015 533 Views last_img read more

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Credit Crisis Paved Way for Trump Sanders

first_img Bernie Sanders Credit Crisis Donald Trump 2016-04-04 Staff Writer April 4, 2016 564 Views in Daily Dose, Government, Headlines, News Credit Crisis Paved Way for Trump, Sanderscenter_img During the recession, Americans lost homes, jobs, wealth, and their credit lifeline, a tragedy that many are still struggling with three elections later. However, this loss of credit and theme of indebtedness play an important role in the political story.According to a report from Bloomberg Markets by Sarah McGregor and  Victoria Stilwell, “For households before the crash, borrowing made good times better and hard times bearable. It held out the promise of a step up, even for the millions of working-class Americans whose wages had stalled. Paying down debt after 2008 had the exact opposite effect, amplifying the hurt and anger—and sapping the recovery.”The article said that retrenchment came in two main varieties: by choice and by force. “Some borrowers, seeing the devastation around them, scrounged up the cash to reduce debt. Others went bust and saw their homes go into foreclosure, or lost access to credit as banks clamped down,” the authors wrote.Presidential candidates Donald Trump and Sen. Bernie Sanders have both implemented a sentiment in their campaigns that appeals to “blue-collar—and highly indebted Americans with an “I understand your anger” type of message,” the report explained.Sherle Schwenninger, co-author of a study of household borrowing by New America, a policy institute in Washington said, “Debt is a big part of the political story.”While housing policy has mostly been a taboo in this presidential race, many candidates have instead chosen to address Wall Street reform.Sen. Sanders, in particular, has been very adamant about Wall Street reform and “Too-big-to-fail” throughout his campaign trail.Earlier this year he stated in a speech, “We can no longer tolerate an economy and a political system that has been rigged by Wall Street to benefit the wealthiest Americans in this country at the expense of everyone else. I’ll rein in Wall Street behavior, so they can’t crash our economy again. Will they like me? No. Will they begin to play by the rules if I’m president? You better believe it.”He added, “Greed, fraud, dishonesty and arrogance, these are the words that best describe the reality of Wall Street today. So, to those on Wall Street who may be listening today, let me be very clear. Greed is not good. In fact, the greed of Wall Street and corporate America is destroying the fabric of our nation. And, here is a New Year’s Resolution that I will keep if elected president. If you do not end your greed, we will end it for you.” Sharelast_img read more

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ExistingHome Sales Up Albeit Slowly

first_img The pace of sales of existing homes slowed down in June, but are sill up from May and from last year, according to early projections from Thursday’s Ten-X Residential Real Estate Nowcast. The company expects June’s existing-home sales will fall between seasonally adjusted annual rates of 5.38 and 5.74 million, with a targeted number of 5.56 million. That’s an increase of 0.5 percent increase from May and a 1.4 percent year-over-year gain.Last month’s Nowcast also called for an increase in May sales between 5.47 and 5.83 million units, with a target of 5.65.Ten-X’s outlook was based on May figures on existing-home sales issued by the National Association of Realtors (NAR), which recently reported a 4.5 percent year-over-year increase in sales to 5.53 million units in May. That increase over April marked the highest annual sales rate since February of 2007.The NAR also reported a 4.7 percent year-over-year increase in median existing-home prices to $239,700 for May, marking the 51st consecutive month of year-over-year gains and nearly matching the prediction of $238,418 that Ten-X made in last month’s Nowcast. Findings from the Nowcast suggest that sales prices for existing homes will fall between $231,642 and $256,025 in June, with a targeted price of $243,833. This represents a 1.7 percent month-over-month gain and a 3.1 percent year-over-year gain.“It will be interesting to see if the recent Brexit vote will have a measurable near-term impact on the U.S. housing market.”Rick Sharga, Chief Marketing Officer, Ten-X“Despite facing broader economic headwinds following a disappointing May jobs report, slowing U.S. GDP growth, and uncertainty in global markets, the U.S. housing market remains on solid footing,” said Ten-X Chief Economist Peter Muoio. “We continue to hold a positive outlook for housing supported by accelerating wage growth, an accommodative labor market and low interest rates, though persistent issues with declining affordability and low inventory will likely limit stronger gains in sales.”Like many in the U.S. housing market of late, Rick Sharga, EVP and Chief Marketing Officer at Ten-X, is wondering how the U.K.’s Brexit vote to leave the European Union will play out.“It will be interesting to see if the recent Brexit vote will have a measurable near-term impact on the U.S. housing market,” Sharga said. “We could see interest rates reach a new low, possibly stimulating buying activity by improving affordability. Or we could see an influx of foreign capital, as investors look towards U.S. real estate in a flight to safety. Either of these could significantly change the current market trajectory.”Click here to view the complete Nowcast. Existing-Home Sales Home Prices Ten-X 2016-06-30 Seth Welborn Share June 30, 2016 592 Views center_img in Daily Dose, Data, Headlines, News Existing-Home Sales Up, Albeit Slowlylast_img read more

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Mortgage Professionals Work Better Together

first_img MReport talks with seasoned Five Star Conference goer, Hector Alvarado, Advantage Realty Group to discuss the importance of mortgage professionals coming together to work to better the industry, saying “Five Star does it right.” See the exclusive interview here.On September 16-18, 2018 at the Hyatt Regency in Dallas, Texas, the Five Star Institute will host the largest event in mortgage servicing, 2018 Five Star Conference and Expo. Previously, this event featured vibrant keynote presentations featuring former U.S. presidents George W. Bush, Bill Clinton and former Secretary of State Dr. Condoleezza Rice to name a few, while attracting award-winning entertainment such as Wynona, Trace Adkins, and Styx. December 1, 2017 634 Views Share Mortgage Professionals Work Better Together To register, click here. five star conference 2018 HOUSING mortgage 2017-12-01 Nicole Casperson in Daily Dose, Headlines, Newslast_img read more

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Improving Loan Officer Production

first_img in Commentary, Daily Dose, Featured, News, Origination Borrowers Carrington Mortgage Homebuyers Loan Officers Ray Brousseau technology 2018-11-30 Radhika Ojha November 30, 2018 769 Views Improving Loan Officer Productioncenter_img We live in a tough competitive world and in this market, technology’s role increases every day. It’s hardly news that loan officers have adopted every program they can find in an effort to generate more leads. Although access to technology is now universal the results are not. Some loan officers do better than others, and you may find yourself wondering why that is.Artificial intelligence, big data, robotics and all the rest are enormously powerful tools − but tools by themselves are not enough. The real trick is how they’re used. This means we must customize technology to best serve your loan officers. There are several ways of doing this.First, you must use data from your portfolio to work with borrowers. You’re continually in front of customers with relevant messaging that includes product information. With advanced customer relationship management technology (CRM) your loan officers can immediately respond when borrower-needs arise.Second, continually watch your portfolio, looking for telltale signs of financial change, early prepayment, and nonpayment. Once alerted your loan officers can then work with borrowers who require refinancing or other forms of assistance with their existing loans.Third, an online presence is acutely important. However, site traffic is just one measure of online success. Don’t get me wrong, we like traffic, the more the better, but the real question for lenders is what benefit is produced. The benefit we want, of course, is more new business, more repeat business, and better customer relationships.  Fourth, we love technology, but there continues to be a place for manual underwriting.Borrowers spend a lot of time developing loan applications. It can be a scary process for some. It only seems fair that in turn, we should look at their entire financial profile to get a better understanding of who they are and what risks they represent. Although automated systems can process large batches of applications at great speed, we don’t want automated systems to unfairly deny financing to a person who might potentially be a solid borrower. At the same time, we must adhere to the traditional banking standard in which you have to know your customer. Sometimes the only way to do that is with manual underwriting. Online and off, one constant reality is that lenders that are responsive, and that take customer interests seriously, are the lenders that succeed. Sharelast_img read more

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