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Collette Launches Major Initiative Giving Agents A Chance to Experienc

first_imgCollette Launches Major Initiative Giving Agents A Chance to Experience its Tours!Collette Launches Major Initiative Giving Agents A Chance to Experience its Tours!Collette has just introduced ‘Collette Cash’, a major incentive which rewards agents for their support and offers them the chance to experience the tour operator’s product first hand!Collette Cash gives agents the opportunity to earn $500 for every deposited booking made between now and 31st December 2016, to put towards a tour of their choice valued up to $4,000.Terms: Valid for bookings made between 15 Oct and 31 Dec 2016, for travel on departures through to 30 April 2018. Must redeem vouchers prior to 30 June 2017. Vouchers not redeemable for cash. Vouchers can only be redeemed on Collette base tour product with availability and guaranteed status. Not combinable with any other offer or agent incentives. Not valid on group bookings. Not valid on FAM travel.For more information contact Collette on: 1300 792 195 or AUsales@collette.com Collettediscover more hereSource = Collettelast_img read more

Excite Holidays honoured for contribution to US Travel Industry

first_imgExcite Holidays honoured for contribution to U.S. Travel IndustryOn Saturday 3 June 2017, the U.S. Travel Association and Brand USA honoured representatives from the world’s highest-volume tour operators and buyers of U.S. travel and hospitality services, at its annual Chairman’s Circle Honors (CCH) event in Washington.Held at the breathtaking Washington National Cathedral during the annual IPW conference, this elite awards event was co-hosted by Brand USA, and honoured international travel buyers for their outstanding efforts and passion in bringing the world to America. International honourees were nominated by the U.S. Travel Association’s Chairman’s Circle-level members, including top U.S. travel businesses and destinations.Representing Excite Holidays was Matt Owers, Product Contracting Manager and Vanessa Richards, Head of Marketing, who were thrilled to accept the award as a 2017 Chairman’s Circle honouree for outstanding contribution to the U.S. travel industry.“IPW’s mission is to bring the world to America, and this year’s Chairman’s Circle honourees have excelled in bringing international visitors here to experience all our country has to offer,” said U.S. Travel Association President and CEO Roger Dow.The 2017 Chairman’s Circle Honors awards hosted a record number of attendees for the event, including 97 representatives from 61 winning organisations, along with leaders from some of America’s top travel companies and destinations.“The winners of this year’s Chairman’s Circle Honors awards have amplified Brand USA’s efforts to welcome the world to America,” said Chris Thompson, President and CEO of Brand USA. “For that, they deserve profound thanks from our country’s destinations and travel industry workers, who depend on robust international visitation for economic growth. We are pleased to honour a truly exemplary group here in Washington, D.C.” Excite HolidaysSource = Excite Holidayslast_img read more

Healthcare tourism increases in the Caribbean

first_imgAccording to an article outlining ‘13 Opportunities for the New Caribbean’, healthcare tourism is listed as an opportunity for the Caribbean region. Healthcare tourism is a great opportunity and new hospitals could be built with two audiences in mind i.e. locals and health tourists – meaning a better quality of care at home and additional revenue.Shomari Scott, Health City’s Marketing Director said, “These are two areas that we have fully embraced at Health City. Given that there is only one incinerator on the island, this will not only provide a second incineration option but it will also reduce transport of potentially harmful waste.”The Health City executive also reported that salt water air conditioning, “an extremely efficient, cutting edge, zero emission technology will be introduced at Health City and will reduce our power demand by approximately 50%.”last_img read more

Indian Railways providing cold storage facility

first_imgUnder a pilot project called ‘Kisan Vision Project’, Container Corporation of India Limited (CONCOR), Central Warehousing Corporation (CWC) and Central Railside Warehouse Company Limited (CRWC) were asked to provide infrastructure to encourage development of facilities for setting up cold storages and temperature-controlled perishable cargo centres as well as developing agro-retail outlets through public private partnership (PPP) mode at six locations on Indian Railways. Details of these projects are as under:-1. Nasik (Maharashtra): The centre located in Nasik District of Maharashtra is functional since February 23, 2013.2. New Azadpur (Delhi): Perishable Cargo Centre at New Azadpur, Adarsh Nagar, New Delhi is functional since March 24, 2015.3. New Jalpaiguri (West Bengal): The Perishable Cargo Centre at Bagdogra airport was taken over by CONCOR on February 22, 2011 from Siliguri Jalpaiguri Development Authority (SJDA). Under the provisions of Agreement executed between SJDA & CONCOR, SJDA was required to obtain requisite license from State Government authorities. Since SJDA has not been able to obtain the same, CONCOR is making efforts to return the facility to SJDA. (ii) Singur (West Bengal): The Perishable Cargo Centre was made functional on December 18, 2011. However, due to very low utilisation, the service provider has abandoned the contract.4. Dankuni (West Bengal): Central Railside Warehouse Company Ltd (CRWC) has been entrusted with the responsibility of developing Perishable Cargo Centre at Dankuni. However, release of requisite land at the proposed site is not viable due to presence of coal blocks, commercial plots, high tension wire and infringing road movement.5. Perishable Cargo Centre at Ghazipur Ghat (Uttar Pradesh): The facility is expected to be functional by December 2016, with a built-up area of 1350 sq m in Phase-I. CONCOR’s fully owned subsidiary, i.e. Fresh and Healthy Enterprises Limited (FHEL) is operating a controlled-atmosphere store at Rai (Sonepat) in Haryana having the capacity of 11,700 metric tonnes.CRWC has carried out preliminary surveys for construction of temperature-controlled storages at 10 other locations, viz Vatva, Vishakhapatnam, Badagara (also known as Vatakara), Udhna, Cheriyanad, Bhivandi Road, Azara, Navlur, Kalamboli and Yashwantpura.These surveys do not indicate feasibility, due to inadequate availability of land/traffic, at all the locations except at Bhiwandi Road. CRWC has surveyed other potential locations and, West Hill, Calicut is among the proposed alternate locations for Railside warehouse complex in Kerala. CRWC has been allowed a timeframe of two years from receipt of requisite approvals for construction and operationalisation of the warehouse complex.last_img read more

Greece is making progress in Cruise Tourism says Kountoura

first_imgCruise Tourism is a government agenda priority, Greek Tourism Minister Elena Kountoura said this while addressing a parliamentary plenary session, together with Shipping Minister Panagiotis Kouroublis.In response to a relevant parliamentary question, Kountoura noted that for the first time the government has taken active steps in promoting marine and cruise tourism, implementing a far-reaching strategy that has thus far created the new Cruise Affairs Coordinating Committee and secured direct flights from the U.S. and China which will contribute to the development of cruise travel from Greece.The Minister underlined that the government’s strategy has worked towards the diversification of cruise travel products in collaboration with major foreign tour operators, worked towards establishing the port of Piraeus as a homeport demonstrated by a 113% increase in passenger arrivals to Athens for cruise travel, or 20,000 vacationers in the January-April 2017 period.Kountoura added that two more direct flights to China are set to start in fall. She also underlined that the tourism ministry has fostered ties of trust with sector players including cruise groups and travel operators, and went on to say that since 2014, the number of cruise visitors has gone from 2.2 million to 3.3 million in 2016. Cruise passenger arrivals, meanwhile, grew by five percent in 2016 and travellers setting out from Piraeus port almost doubled from 66,268 in 2015 to 123,549 in 2016.last_img read more

Home Prices Should Slide by 36 in 2012 Fiserv

first_img Agents & Brokers Home Prices Housing Affordability Investors Processing Service Providers 2012-01-30 Ryan Schuette The latest analysis from a Fiserv Case-Shiller index said Monday that home prices could slide back by 3.6 percent this year, and may not completely pick up until the first half of 2013.[IMAGE]””Fiserv, Inc.””:http://www.fiserv.com/ found a double-dip that began last summer stretching into last fall as home prices declined in 340 of 384 metropolitan areas surveyed by the technology provider.It said some 302 areas slammed into new lows, and projected that home prices will fall in southerly direction this year before climbing by 2.4 percent over the second quarter next year.[COLUMN_BREAK]””Housing affordability has improved dramatically because of declines in both prices and mortgage interest rates,”” David Stiff, chief economist with Fiserv, said in a statement.””Many households cannot finance first-time or trade-up home purchases to take advantage of lower home prices because of much stricter mortgage lending standards,”” he added. “”But even households with access to mortgage credit are hesitant to buy homes while job growth is weak and consumer confidence is low.””The company also said that prices fell by double-digits in 30 metropolitan areas, with home prices ticking up by 1 percent or more in 25 areas.Only two metro areas, including some in California and Nevada, will likely see a pickup in home prices over the second quarter this year. Sixteen metro areas will see price declines by double digits.””If economic growth picks up in the second half of 2011, then home prices should stabilize early next year,”” Stiff said, adding: “”Potential buyers must be convinced that the economic recovery is back on track and that the double-dip in home prices is nearly over before housing demand will begin to rise.”” January 30, 2012 429 Views in Data, Origination, Secondary Market, Servicing, Technologycenter_img Home Prices Should Slide by 3.6% in 2012: Fiserv Sharelast_img read more

Freddie Mac Records 288B in 2012 Multifamily Volumes

first_imgFreddie Mac Records $28.8B in 2012 Multifamily Volumes in Secondary Market Agents & Brokers Attorneys & Title Companies Delinquency Freddie Mac Investors Lenders & Servicers Mortgage-Backed Securities Service Providers 2013-01-30 Esther Cho January 30, 2013 413 Views center_img As the multifamily sector continues to flourish, “”Freddie Mac””:http://www.freddiemac.com/ also announced it hit record volume for its multifamily business. [IMAGE]In 2012, the GSE supported the multifamily sector with $28.8 billion. The figure represents a 42 percent increase from 20.3 billion in 2011 and is the highest level since [COLUMN_BREAK]2008, when multifamily business activity reached a record $24 billion. “”It was a phenomenal year for us and the sellers and servicers in our network,”” said David Brickman, SVP of Freddie Mac Multifamily. “”We achieved record volume while maintaining strong credit discipline and providing essential liquidity to the growing multifamily mortgage market. In the fourth quarter we completed about 33 percent of our yearly volume–approximately $10 billion in multifamily mortgages.””Overall, the GSE was able to provide financing for over 1,600 properties, which translates into more than 435,000 apartment units. In addition, most of the units are affordable to low- or moderate-income families. Freddie Mac also announced the multifamily business in 2012 hit the lowest delinquency rate in two years. “”Multifamily is a profitable business line for Freddie Mac, and has produced nearly $4 billion in segment earnings since 2010. This includes $1.65 billion in the first nine months of 2012,”” Brickman added. Sharelast_img read more

MBA CommercialMultifamily Originations Up in Q2

first_img Agents & Brokers Attorneys & Title Companies Commercial Real Estate Investors Lenders & Servicers Mortgage Bankers Association Service Providers 2013-07-30 Krista Franks Brock in Origination MBA: Commercial/Multifamily Originations Up in Q2 July 30, 2013 505 Views center_img Commercial and multifamily loan originations are up both quarterly and over the year, according to the Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations released Tuesday by the “”Mortgage Bankers Association””:http://mbaa.org/default.htm (MBA).[IMAGE]Originations increased by 36 percent from the first quarter to the second quarter, with the greatest increase in activity occurring among hotel properties, which experienced an 89 percent increase over the quarter. A significant increase in originations also took place among office properties in the second quarter, when originations spiked 75 percent from the previous quarter. Retail property originations were up 48 percent; industrial property originations were up 44 percent; and multifamily properties were up 22 percent over the quarter. [COLUMN_BREAK]Despite a “”slower start to the year, lending by life insurance companies surged in the second quarter to the highest quarterly volume on record for that sector,”” said Jamie Woodwell, MBA’s VP of commercial real estate research. Life insurance companies upped their commercial/multifamily investment by 100 percent in dollar volume over the quarter. When comparing the first half of the year to the first half of last year, MBA calculated an 8 percent increase in commercial/multifamily originations this year. “”The apartment market continues to be the belle of the ball, with multifamily mortgage originations running 31 percent ahead of last year’s first half total,”” Woodwell said. Hotel property originations are up 13 percent when comparing the first six months of this year with the first six months of last year, and industrial property originations are up 1 percent. On the other hand, office, retail, and health care property originations are all down, by 2 percent, 19 percent, and 27 percent, respectively, according to MBA. Conduits for commercial mortgage-backed securities (CMBS), GSEs, and commercial bank portfolios all increased their activity in the commercial/multifamily sector over the first half of the year compared to the first half of last year. By loan volume, CMBS increased activity 22 percent; GSEs increased their activity by 20 percent, and commercial banks increased activity by 11 percent. Life insurance companies kept their activity relatively even with last year. Sharelast_img read more

HUD Unveils 2015 Budget Expects No Further FHA Bailout

first_img in Daily Dose, Government, Headlines, News March 5, 2014 456 Views HUD Unveils 2015 Budget; Expects No Further FHA Bailout HUD Secretary Shaun Donovan revealed the agency’s fiscal year 2015 budget proposal on Tuesday in a conference call. “HUD’s FY2015 budget request helps to create opportunity for all Americans by providing housing, capital investments, and critical services for millions of families,” Donovan said.Joining Donovan on the call was Federal Housing Administration (FHA) Commissioner Carol Galante.An accompanying report to the call highlights previous accomplishments of the Obama administration, while providing forward-looking programs to help those in need of housing. The report noted, “HUD and its partners have steered the housing market through one of the worst recessions in recent history, while continuing to serve the most vulnerable.”HUD has reduced veteran homelessness by 24 percent since 2010, helped 3.9 million families buy a home in the last five years, and assisted 450,000 families in avoiding foreclosure this past year.The proposed budget for 2015 increases current levels by 2.6 percent to $46.66 billion, and is an increase from 2013 levels by 10.1 percent. The large increase from 2013 is due to sequestration cuts.The topline budget numbers are already set in law as a result of The Murray-Ryan Bipartisan Budget Act of 2013.”This year’s budget presents a unique opportunity for HUD to work within the frame of the Bipartisan Budget agreement while continuing to build ladders of opportunity for all Americans,” Donovan said. “This funding will continue to help strengthen and stabilize our nation’s housing market while putting our economy back on the right track and helping those in most need.”A portion of the new budget would be used to create a pilot program, Homeowners Armed with Knowledge (HAWK), a “new housing counseling pilot to increase access to credit for first-time homebuyers and to embed counseling for troubled homeowners, further strengthening the FHA fund,” the report said.Additionally, housing counseling would be increased by 33 percent to $60 million.”Housing counseling delivered by HUD-approved counselors not only benefits the family, but actually lowers the risk of default,” Donovan said on the call.Carol Galante spoke about the proposed new administrative fee collected by the FHA. The fee would be used to further the FHA’s Quality Assurance efforts by expanding its ability to monitor loans.”The fee is for being able to implement our Quality Assurance framework, which includes things like sampling of a more diverse portfolio of loans, not only looking at loans in default,” Galante said.The purpose of the new fee is to provide feedback to lenders in a “timely way,” so that “Lenders can lend with confidence to the full credit spectrum of borrowers,” Galante said.Donovan reinforced Galante’s statement, clarifying the goal of the fee and the purpose of Quality Assurance efforts: “As the FHA, and the administration more broadly, have stepped up enforcement, to really hold lenders accountable for the mistakes that were made in the crisis, there is no mistake we have raised the bar for companies and their accountability.”He continued, “What we are trying to do here is to provide as much transparency and clarity to what that enforcement will look like going forward.”center_img Share FHA HUD 2014-03-05 Colin Robinslast_img read more

HUD Reviews Castros First Year of Progress Since His Secretarial Induction

first_imgHUD Reviews Castro’s First Year of Progress Since His Secretarial Induction in Daily Dose, Government, Headlines, News While much has been written and said in the last two weeks on the fifth anniversary of the passing of Dodd-Frank into law, HUD is celebrating an anniversary of its own on Tuesday. secretarialJuly 28 marks exactly one year since former San Antonio mayor Julián Castro was sworn in as HUD secretary, succeeding Shaun Donovan. In addition to celebrating Castro’s one-year anniversary as HUD secretary, HUD will commemorate the 50th anniversary of its founding on September 9.During his first year as the nation’s top housing official, Castro has made several policy changes with the intent of increasing opportunity for more Americans to obtain affordable, sustainable housing. Several of those changes are outlined in an announcement from HUD on Monday titled “Year of Progress: Delivering on the Promise of Opportunity.””We recognize housing as a platform for Americans who are striving to improve their lives and break the cycle of poverty for the next generation,” HUD stated in the release. “As needs for our services have increased, HUD will continue to invest in initiatives that have demonstrated outcomes in helping the people we serve.”One of the major changes Castro enacted occurred just one week into the new calendar year. On January 8, Castro announced that the Federal Housing Administration (FHA) would be lowering the annual premiums for first-time buyers by half a percentage point, down to 0.85 percent. The Agency estimates the move will save more than two million borrowers an average of about $900 annually on mortgage premiums and will allow about 250,000 new homebuyers to enter the market during that time.”I applaud FHA’s initiative to lower the mortgage insurance premium by 50 bps,” said Laurie Goodman, center director of the Housing Finance Policy Center at the Urban Institute. “This was a courageous move, as the MMI Fund had not reached its 2 percent minimum.”Indeed, the MMI fund stood at 0.41 percent last November, less than a quarter of the 2 percent required by law, which caused the lowering of the annual premiums to draw some criticism.”Since FHA’s financial future is still uncertain, now is not the time to reduce premiums. It has nowhere near the level of reserves to withstand even a minor recession,” Edward Pinto, co-director and chief risk officer of the American Enterprise Institute’s International Center on Housing Risk, told DS News in a recent interview. “Given FHA’s current high risk practices, it would be imprudent to not stay the course; it should not lower premiums.”Another step HUD took toward providing Americans with access to affordable housing was the Affirmatively Furthering Fair Housing (AFFH) rule, which was announced on July 8. This rule creates a streamlined fair housing planning process that helps communities analyze their choices for fair housing and establish goals and priorities to address barriers to fair housing. The rule was widely praised as a way to help the 1968 Fair Housing Act meet its obligation to help state and local governments improve their housing policies and achieve more meaningful outcomes that allow all Americans to live where they want to.”The Affirmatively Furthering Fair Housing provision of the Fair Housing Act was intended to help remedy years of government-supported segregation and inequality, not by forcing diversity, but by empowering and encouraging states and localities to partner with the federal government to address the effects of these harmful policies,” House Financial Services Committee Ranking Member Maxine Waters (D-California) said.Other HUD achievements in the last year include funding rental assistance vouchers for 2.4 million low-income households, providing an opportunity for families who are seeking to become homeowners; investing $250 million through the Choice Neighborhoods Program to transform high poverty areas; and investing $4 million to expand the HUD-Veterans Affairs Supportive Housing (HUD-VASH) Program to help approximately 650 Native Americans who are currently homeless or at risk of being homeless.Still, there is more work for HUD and FHA to do as Castro approaches his second year as HUD secretary, particularly in the area of relaxing the standards on loan level certifications for lenders.”The FHA needs to focus more on access to credit by giving lenders the comfort they need to eliminate their overlays,” Goodman said. “This means changing the loan level certifications lenders sign. FHA currently requires lenders to certify that the information it has provided to FHA is true, complete, and accurate. This has resulted in FHA seeking indemnification for small, inadvertent errors and has served as a basis for the False Claims Act, under which lenders are liable for treble damages.” July 27, 2015 467 Views center_img Share 50th Anniversary Affordable & Sustainable Housing Federal Housing Administration HUD 2015-07-27 Seth Welbornlast_img read more

Long Road Ahead for GSE Profit Allocation Battle

first_img June 19, 2017 550 Views Fannie Mae Freddie Mac 2017-06-19 Brianna Gilpin In a recent Bloomberg interview by Joe Light and Erik Schatzker, Fairholme Hedge Fund Manager Bruce Berkowitz said the legal battle with the U.S. government regarding Fannie Mae and Freddie Mac’s profits could last another five years.Back in February, the D.C. Circuit panel gave the U.S. Department of the Treasury and Federal Housing Finance Agency a win over the allocation of profits from Freddie Mac and Fannie Mae to the Treasury. This affirmed a lower court’s ruling that actions taken under the FHFA’s conservatorship of the GSEs cannot be challenged in court, however Fannie and Freddie shareholders sued the two for agreeing to the deal. When the government took over the GSEs in 2008 during the housing crisis, the Treasury had “senior” preferred shares that paid a 10 percent dividend and had warrants to acquire nearly 80 percent of the companies stock. When the company changed the terms in 2012, instead of the 10 percent dividend, the government would receive nearly all profits, but there would be no payouts if the company suffered losses. They believe the profit sweep violates the reasonable expectations that they had when they originally purchased stock in the GSEs.The battle has already lasted more than four years, but Berkowitz said from beginning to end, it could be a 10-year process. He and several other investors were a part of the group that sued the government over its 2012 decision to seize all of Freddie and Fannie’s earnings that federal judges have so far upheld the legality of. According to Bloomberg, lawmakers in the Senate are in the early stages of developing legislation to revamp the housing-finance systems, which even if it succeeds, doesn’t give a clear ending for shareholders.Treasury Secretary Steve Mnuchin said he prefers to work with Congress on bipartisan reform, but hasn’t ruled out taking action without lawmakers. Though Berkowitz said he hasn’t discussed Fannie and Freddie overhaul plans with Mnuchin, if the Trump administration doesn’t stop the profit sweep, Fairholme will “absolutely” go to the Supreme Court.“When you go back and think about it, right, there are issues of breach of contract,” Berkowitz said in reference to the Federal Housing Finance Agency who oversees the GSEs. “There are constitutional issues. How do you create an agency that oversees Fannie and Freddie that doesn’t answer to any branch of government?” Long Road Ahead for GSE Profit Allocation Battlecenter_img in Daily Dose, Featured, News, Secondary Market Sharelast_img read more

Mortgage Industry Reacts to Government Shutdown

first_img January 21, 2018 865 Views in Daily Dose, Government, News Mortgage Industry Reacts to Government Shutdown As day three of the government shutdown begins, the concern about its impact on mortgage lending grows.As previously reported, if the government doesn’t find a resolution quickly, the shutdown is likely to affect the industry in three major ways: FHA and VA mortgage loan originations could be impacted due to government workers not being in office; loan applications will be held up if lenders can’t obtain verification of social security numbers; and mortgage firms won’t be able to process loans if the IRS is not available to verify borrowers’ tax returns, effectively creating a backlog when the government eventually re-opens.”It’s going to take a little longer to get those loans funded,” Kelly Decker with First United Bank Mortgage told NBC, referencing lenders not being able to obtain IRS data due to the shutdown. “[If the homebuyer] had planned on moving trucks showing up on the last day of the month, it might mean they have to wait maybe another three, four, five days, depending on how long the shutdown takes,” Decker said.As companies brace themselves for what a prolonged shutdown could mean, Ginnie Mae announced on Sunday that its operations will continue despite the shutdown. In a press statement the Ginnie Mae insured investors that:During a lapse in government funding, Ginnie Mae will reduce staffing to essential personnel levels. Importantly, Ginnie Mae will continue to remit timely payment of principal and interest to investors. There will also be no disruption of essential functions like the granting of commitment authority and support for continued issuance of Ginnie Mae-guaranteed Mortgage Backed Securities (MBS) and REMICs.Many are looking to the 2013 shutdown for guidance. But the fundamental changes to the industry in the past five years may mean we are in unknown territory. To learn the full impacts of a prolonged shutdown, the 2013 shutdown, which lasted 16 days, can be a guide, however other changes in the market will impact the total cost of the current shutdown.“In the past decade, government involvement in the housing industry has precipitously increased, hastening an even greater dependence on the federal institutions that would be affected by a potential government shutdown,” said Five Star Institute President and CEO Ed Delgado. “I call on all congressional stakeholders to stop using the needs of American homeowners as leverage for achieving their policy goals.”The Senate is scheduled to vote at noon today on a resolution that if passed would extend the budget until February 8.center_img FHA Ginnie Mae HOUSING mortgage Shutdown 2018-01-21 Rachel Williams Sharelast_img read more

Ocwen Ready to Close on PHH Acquisition

first_img September 28, 2018 784 Views Ocwen Ready to Close on PHH Acquisition Ocwen PHH 2018-09-28 Seth Welborn On Friday, Ocwen announced that it is ready to close on its acquisition of PHH Corporation.Ocwen and PHH have been working diligently to close the pending transaction.  The companies have now received all regulatory, governmental entity and contractual approvals and consents in order to be in a position to close.  The approval from the New York Department of Financial Services is subject to certain conditions, as further described in Ocwen’s Form 8-K filed today, available at http://shareholders.ocwen.com/financial-information/sec-filings.  The parties intend to close the transaction within the next 10 days.Ocwen originally announced the acquisition plan in February 2018. As part of the announcement, Ron Faris, then President and CEO of Ocwen, said, “We are very pleased to announce the proposed acquisition of PHH, a leading non-bank servicer. PHH is a high-quality servicer with complementary capabilities and business lines to Ocwen, making it a great strategic match for us. In addition to providing significant scale benefits, this transaction gives us the opportunity to migrate to their existing BlackKnight LoanSphere MSP servicing platform more quickly and with less risk than had we just implemented the system ourselves. We are also excited by the opportunity to welcome the PHH employees to the Ocwen family and by the opportunity to bring our industry-leading and innovative loss mitigation capabilities to existing PHH servicing customers currently struggling with their mortgage payments.”Faris retired on June 30, 2018. As previously announced by Ocwen, concurrent with the closing of the PHH merger, Glen Messina will become President and Chief Executive Officer of Ocwen.“We are pleased to have reached an agreement with Ocwen, and we look forward to working with them to bring this transaction to a successful close,” said Robert B. Crowl, President and CEO of PHH. “We are excited by the opportunity to build a stronger combined company for our servicing and subservicing clients, our borrowers, and our employees.”Under the terms of the merger agreement, Ocwen will acquire all outstanding shares of common stock of PHH for approximately $360 million in cash or $11 per diluted common share.center_img in News, Servicing Sharelast_img read more

Why the Shutdown Is Hurting Everyone

first_imgWhy the Shutdown Is Hurting Everyone in Daily Dose, Featured, Government, News Banks Borrowers Employment FEMA Government HUD JPMorgan Chase loans Shutdown Wells Fargo 2019-01-07 Radhika Ojha Approaching its third week, with no near term solution in sight, the partial government shutdown’s effects are not only being felt on federal agencies but also on the housing market as federal employees go without pay. This is, in turn, is affecting their ability to repay loans. According to the latest estimates, around 800,000 workers are either on furlough or required to work without pay. This includes employees of federal institutions like the U.S. Department of Housing and Urban Development as well as the Federal Emergency Management Agency (FEMA).Federal Contractors Losing OutOn Friday, FEMA posted a stop work order that is likely to impact many open contracts. According to the Washington Post, in a note to federal contractors Bobby McCane, Head of FEMA’s Contracting Activity said, “Any work done after the receipt of this notice is at your own risk and will not be reimbursed. I thank you for your assistance during this funding lapse.”While many of the contractors affected by the FEMA shutdown are deep-pocketed tech companies and large government services firms such as AT&T and IBM, the Post said that small businesses and contractors were feeling the shutdown more sharply as they relied on these contracts to provide a large portion of their annual revenue.Effect on BorrowersThe effects of the shutdown are now being felt on the housing market too as banks and credit unions announce assistance programs to help affected borrowers working in the government to tackle loan repayments. For example, Wells Fargo has said that it will work with “individuals and business banking customers whose income is disrupted as a result of the shutdown.” Additionally, the bank has said that it has set up phone lines to help mortgage, loan, and credit customers who might qualify for forbearance or other payment assistance programs based on their individual circumstances.Chase has also offered hardship programs to customers who have been affected by financial strain, unemployment, or natural disasters. The bank has said that it will automatically waive or refund overdraft and monthly service fees on Chase checking and savings accounts if an employee’s salary from an affected federal agency was direct-deposited into the account in November 2018.“We’re here for our government worker customers whose pay may be disrupted,”  said Thasunda Duckett, CEO of Consumer Banking at Chase.  “We all hope this will be resolved soon.”center_img January 7, 2019 1,046 Views Sharelast_img read more

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first_img 0 Comments   Share   Cardinals expect improving Murphy to contribute right away Maybe if Anderson spent those two hours working on his accuracy he wouldn’t have to prove himself to a random fan. Oft-mocked Cardinals quarterback Derek Anderson couldn’t sleep last night and turned to Twitter to amuse himself.He must have been bored, as he decided to get into a full-blown argument with Cleveland Browns fan Bob Wetsel.When Anderson sent out a whimsical-sounding tweet wondering why he does certain things, Wetsel was giving him some flak when he asked why Anderson throws into triple coverage.Cue the beginning of a two hour argument over who knows football better: the fans or the players. Anderson said triple coverage is impossible as it leaves one man open, but later tweeted that he meant certain zones allow for three defensive backs to be in the same vicinity as a receiver.Eventually the conversation deteriorated into Anderson basically labeling Wetsel an armchair quarterback.Despite spending some time on the bench last season, Anderson still thinks he has what it takes to play in the NFL.I’m just saying u don’t know what u think u know. So don’t be a hater.. I play in the NFL regardless if u think I can play or not I can f*****g play the game. Shity at times yes.. But sure as shit dont try and be shity What an MLB source said about the D-backs’ trade haul for Greinke Top Stories Nevada officials reach out to D-backs on potential relocation D-backs president Derrick Hall: Franchise ‘still focused on Arizona’last_img read more

Head coach Bruce Arians at Arizona Cardinals train

first_imgHead coach Bruce Arians at Arizona Cardinals training camp Tuesday, August 18, 2015 in Glendale. (Photo: Vince Marotta/Arizona Sports) Top Stories Former Cardinals kicker Phil Dawson retires GLENDALE, Ariz. — Head coach Bruce Arians, now in his third year with the Arizona Cardinals, meets the media each day during training camp.Here, in this space, we’ll highlight many of the key topics and personnel conversations he has with reporters following the morning walk-through.First though, Arians updated the injury list saying Michael Floyd (hand), Jonte Green (hamstring), Shaq Riddick (hamstring), Sean Weatherspoon (hamstring) and Rob Crisp (knee) remain out, while Jerraud Powers (oblique) and Mike Iupati (knee) will be limited. Derrick Hall satisfied with D-backs’ buying and selling Comments   Share   Arians also announced players with 10 or more years of experience will be given the day off, saying, “You get a bone when you have 10 years every now and then.” So those players not on the practice field will be Carson Palmer, Larry Fitzgerald, Cory Redding, Frostee Rucker, Mike Leach and Dave Zastudil.“I was very pleased with yesterday’s work. I think it’s excitement heading into the game. Guys practiced very well. Today’s walk-through was spirited, so it’s very good. We’re making nice strides. I like where we’re at right now.”What were your first impressions of Chris Johnson at practice?“Yeah, I thought he had some explosive first-step stuff still a couple of times. He’s still learning what he call things. But, the plays that he’s run natural all his life he still runs pretty natural.”With his addition, how close do you feel you are to getting to that team speed you want?“Well, adding him to the mix with Andre (Ellington) and David (Johnson) and the rest of our guys, we have an element of speed offensively right now that’s pretty potent. It’s close to where we want to be, especially with the tight end group.”How do you feel about the depth at offensive line? The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Does the potential for fighting make you less willing to hold a joint-practice with another team?“No. It’s who you work with. I’ve been part of many, many joint practices in my years. There was once or twice those incidences. It’s up to the coaches to make sure that stuff doesn’t happen. I bet my life there won’t be on in New England and New Orleans because coaches won’t allow it. Other coaches breed it.” “Like I said last week, our second-team line had three starters, a first-round pick and a young guy that’s been here a long time and is fighting for a starting job. If we do have injuries, I feel very comfortable that we have the depth to not just get five guys out there, but still have six or seven.”How much of a chance do you give Jaxon Shipley to make the team?“That’s an outside chance, but he has a chance. He continues to show the return ability. He’s got to play special teams because your fourth, fifth receiver, they’re special teams guys. Jaron Brown is a core-special teamer. (Brittan Golden) is a return guy and also has ability to be a gunner, so just being a returner might not quite be enough. But I like what I’ve seen so far.”When Dan Williams left, were you guys looking for a specific type of nose tackle?“We like to have somebody that can play more than 25-percent of the time and not come out in nickel. To have the big nose guard that just takes up two guys, we feel like we still have that but these guys can also play end and rush the passer.”What’s your stance on in-practice fighting?“We don’t tolerate it, whatsoever. If you even think about, just start running. If it’s a two-man fight, those two guys will run. We’ve had one incident in the last three years where we’ve had more than one. We just stopped and started running. It’s not tolerated here. There’s no place in the game for it. Coaches that believe that, they need to get new jobs.” Grace expects Greinke trade to have emotional impactlast_img read more

NFL Power Rankings Week 10 Bengals up to No 2

first_imgNFL Power Rankings, Week 10: Bengals up to No. 2; Broncos fall#6 (holding steady)Spoke to Larry Fitzgerald on “NFL HQ” this past week, and I felt compelled to ask him how Chris Johnson has made such a comeback. (Of course, one could ask Fitz that same question about himself.) Johnson’s two fumbles in Week 8 aside, the veteran running back has been brilliant. Would you believe Johnson is third in the NFL with 676 rushing yards? That’s 13 more than he had all last season with the New York Jets.2015 NFL Power Rankings: Week 10#6 (holding steady)The Cardinals rank in the top 10 in rushing this season, a year after ranking 31st in rushing yards per game and last in yards per rush.NFL Power Rankings Week 10: Top NFC North team isn’t the Packers#6 (up 2 spots)s it fair to say that the Cardinals need to win one of their next two games, either at Seattle or home against Cincinnati? They’d prefer to get that W this week, obviously, as it would stretch their NFC West lead to three games. Lose both those games, though, and suddenly Arizona’s at 6–4, likely tied for first with Seattle and teetering on a second-half tumble again.2015 NFL Power Rankings: Week 10 The first half of the football season is over. The bye week is in the rear view mirror.The Arizona Cardinals get back to action Sunday night in Seattle in a pivotal Week 10 matchup with the Seahawks at CenturyLink Field. It’s the first of back-to-back Sunday night appearances for the Cardinals, who enter this week’s game with a 6-2 record. Head coach Bruce Arians’ team managed to climb a little bit in this week’s NFL Power Rankings Roundup. Every week here on ArizonaSports.com, we average out the rankings from 10 of the most read and respected websites in the country. Former Cardinals kicker Phil Dawson retires Derrick Hall satisfied with D-backs’ buying and selling Comments   Share   USA Today Power Rankings#7 (down 1 spot)Not one team they played in first half has winning record. Only one team they play in second half has a losing mark. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelocenter_img Arizona Cardinals wide receiver Larry Fitzgerald (11) makes a catch in the second half of an NFL football game against the Pittsburgh Steelers, Sunday, Oct. 18, 2015 in Pittsburgh. The Steelers won 25-13. (AP Photo/Gene J. Puskar) Top Stories #4 (up 1 spot)The bye week will allow the Cardinals to get their full arsenal at wide receiver healthy — both John Brown and Larry Fitzgerald enter the bye week banged up. View season trend.NFL Power Rankings: Where Does Every Team Rank Heading into Week 10?#6 (holding steady)The team’s difficult trek begins with the rival Seahawks. Arians and his staff had two weeks to prepare the team for this year’s trip to Seattle. A victory should set the tone for the rest of the season as the Cardinals prepare to run the gauntlet. 2015 NFL power rankings, Week 10: Patriots, Bengals and Panthers stay above the chaos#4 (up 1 spot)No comment. NFL Power Rankings: Perfect Pats, Bengals, Panthers not unbeatable#5 (up 1 spot)They come off the bye with a huge game this week against the Seahawks. If they can win that one, they will have a real command of the division.NFL Power Rankings: Are the Dallas Cowboys dead? Not yet#5 (up 1 spot)If Carson Palmer has a big game in a win at Seattle this week, you’re going to start to hear a lot of MVP buzz for him.PFT’s Week Ten power rankings#4 (up 2 spots)The Cardinals will either cement or forfeit their stop in the top five on Sunday night in Seattle. Grace expects Greinke trade to have emotional impactlast_img read more

Former Cardinals kicker Phil Dawson retires

first_img Former Cardinals kicker Phil Dawson retires Johnson did not practice for a second straight day on Thursday, and he has not been on the field since hurting his ankle versus Minnesota.While his teammates continued to prepare for the Packers, Johnson was once again working out on the side with a trainer.“I’m feeling good. I’m feeling better. Today was the best day that I felt,” he said, standing in front of his locker. “Hopefully get an opportunity to practice some tomorrow and hopefully get the ‘go’ from the training staff and the Coach (Bruce Arians) on Sunday.“If the progress continues like it’s been going for the past week-and-a-half like it did from yesterday to today on to Friday on to Sunday, then, yeah, I’ll be able to play on Sunday.”Johnson had not missed a game in two years prior to him being sidelined at Philadelphia.“It was weird,” he said. “You want to be on the field, you want to do everything you can do to help your guys win. I just love to be involved and be in the action.”Without Johnson, the Cardinals defense appeared to struggle at times.Both the Eagles touchdowns occurred amidst confusion in the secondary.On Zach Ertz’s 22-yard second-quarter score that tied the game at 10, the Cardinals had only 10 men on the field. They failed to get a timeout called though replays clearly showed the 6-foot-8 Calais Campbell signaling for one. “Guys are really locked in to getting the job done,” Johnson said. “We’re missing Ty a tremendous lot, I mean a brother to us, wish he was around; just the person of him, not so much as the football player….everybody has been focused to detail and a lot of urgency about what we’re trying to do this week.“Two wins to get in the Super Bowl instead of three. I’d rather go two instead of three. For us, we want to get a home-field game. We know how great our crowd is and how well we play at home. But at the end of the day, none of that matters if we don’t take care of Sunday.” Philadelphia Eagles’ Zach Ertz (86) is overthrown as Arizona Cardinals’ Rashad Johnson (26) defends during the second half of an NFL football game Sunday, Oct. 26, 2014, in Glendale, Ariz. The Cardinals won 24-20. (AP Photo/Ross D. Franklin) Top Stories TEMPE, Ariz. – Already without safety Tyrann Mathieu, the Arizona Cardinals can ill afford another absence in the secondary, especially if that vacancy is the spot occupied by starter Rashad Johnson, going into this week’s matchup against Green Bay.If Mathieu is the heart of the defense, that emotional leader, then Johnson is the brains, the proverbial quarterback, signaling in the calls and getting everyone in the right position. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Later in the fourth quarter, Sam Bradford and Jordan Matthews hooked up for a 78-yard score, the second-longest touchdown allowed by the Cardinals this season.Matthews was wide open on the play.“I don’t know if it does or doesn’t (happen if Johnson was on the field), but it was a breakdown,” defensive coordinator James Bettcher said. “That stung a little bit.”Bettcher said Philadelphia’s up-tempo offense forces opposing defenses to communicate fast. That’s an area Johnson excels at, and without him, others were forced into a situation that was somewhat new.In other words, valuable experience was gained, meaning they’ll be more prepared going forward, according to Bettcher.“This week it’ll be a little bit of that again, so last week, as I looked at it, was a great way for us to improve our communication in those situations when Rashad is not in,” he said.Johnson, now in his seventh season, is tied for the team-lead with five interceptions, has the fourth-most passes defensed (eight) and sixth-most tackles (56).It’s what’s between the ears that can’t be quantified.Mathieu’s loss is huge, yes; Johnson’s availability, or potential lack thereof, would be just as significant, if not more so. Derrick Hall satisfied with D-backs’ buying and selling Comments   Share   Grace expects Greinke trade to have emotional impactlast_img read more

Green Bay Packers quarterback Aaron Rodgers 12 t

first_imgGreen Bay Packers quarterback Aaron Rodgers (12) throws under pressure from Arizona Cardinals outside linebacker Markus Golden (44) during the second half of an NFL football game, Sunday, Dec. 27, 2015, in Glendale, Ariz. (AP Photo/Ross D. Franklin) Derrick Hall satisfied with D-backs’ buying and selling GLENDALE, Ariz. – The injury bug bit the Arizona Cardinals earlier in the week. Fortunately, it never returned in the days leading up to Saturday’s Divisional Round matchup with the Green Bay Packers at University of Phoenix Stadium.The Cardinals reported seven healthy scratches among their inactives announced 90 minutes before kickoff.“That’s unusual for this time of the year, but you put two guys on IR that kind of makes two other guys healthy real quick,” head coach Bruce Arians said earlier in the week, referring to the season-ending injuries to linebacker Alex Okafor and defensive tackle Cory Redding. Former Cardinals kicker Phil Dawson retires “Last week (the) three days were just like they had been all season,” Arians said of practice. “This week was even more amped up. The attention to detail was, I thought, very good on the practice field.”So there really is no downside to having a bye, is there?“I can’t think of one, I really can’t,” Arians answered. Comments   Share   center_img Grace expects Greinke trade to have emotional impact Losing both Okafor and Redding is big, but the blow is softened some with the return of linebacker Markus Golden and defensive tackle Josh Mauro. Golden (knee) sat out the regular-season finale, while Mauro (calf) missed the past two games.Defensive tackle Frostee Rucker is also good to go despite being limited all week in practice with an ankle issue. He had been listed as questionable on the final injury report Friday.The Cardinals’ inactives included quarterback Matt Barkley, cornerback Corey White, running back Kerwynn Williams, linebacker Shaq Riddick, defensive tackle Red Bryant, offensive tackle D.J. Humphries and nose tackle Xavier Williams.Williams and Bryant had been active participants in recent weeks.For the Packers, receiver Davante Adams (knee) is out due to injury.The others not in uniform for Green Bay are quarterback Brett Hundley, cornerback Robertson Daniel, cornerback LaDarius Gunter, running back John Crockett, linebacker Andy Mulumba and offensive guard Josh Walker.Cornerback Sam Shields is available after missing the past four games because of a concussion.The Cardinals have not played a game in 13 days.Their status as the No. 2 seed in the NFC earned them a first-round bye plus an extra week of work—in addition to time to rest—to further prepare for the playoffs. Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelolast_img read more

Arizona Cardinals head coach Bruce Arians left a

first_imgArizona Cardinals head coach Bruce Arians, left, and general manager Steve Keim discuss the upcoming NFL football draft, Tuesday, April 19, 2016, in Tempe, Ariz. (AP Photo/Matt York) 0 Comments   Share   It also means a long wait on draft night.The Cardinals must sit and watch 28 other teams turn their pick in and then listen to Commissioner Roger Goodell announce the selection.“When you’re picking so late it’s so hard to forecast what happens the 28 picks prior,” Keim said. “The thing I will tell you is we will be prepared.”That includes, according to Keim, possibly moving up or back, the latter of which may leave the Cardinals without a first-round pick on April 28.Currently, the Cardinals have six picks in the 2016 NFL Draft with one each in the first, third, fourth and sixth rounds and two in the fifth round, including No. 170 that the team received as a compensatory selection.Remember, the Cardinals do not have a second-round or seventh-round pick. Those were traded to New England and Philadelphia for linebacker Chandler Jones and quarterback Matt Barkley, respectively.The lack of a second-round selection (61st overall) is just fine by Arians.“Just write Chandler Jones’ name on a tag. You’ll be happy as hell,” he said, laughing.Keim has been known to covet picks — he’s been involved in at least one draft-day trade each of the three years since he’s been GM — but this year he may go against the norm. TEMPE, Ariz. — It’s the one downside to a successful NFL season: a late first-round draft pick.Not that the Arizona Cardinals are complaining or would prefer the alternative; quite the opposite, really.Both general manager Steve Keim and head coach Bruce Arians like the view from where they stand, drafting in the lower-third of the opening round for the second straight year.It means they’re coming off a good season, and at 13-3, the Cardinals enjoyed their best regular season in franchise history. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Top Stories Former Cardinals kicker Phil Dawson retires “In four years together, we feel like we’ve gotten significantly better as a roster,” Keim said, referring to Arians, “so acquiring more picks gives you the obvious, which is to hit on more players, yet at the same time because of our roster and the depth that we currently have, it’s harder to make our football team.”In other words, Keim may be less inclined to part with either their first- or third-round (92nd overall) selection in favor of being busier on the draft’s third day, even though the Cardinals have had great success recently in the later rounds, i.e. Andre Ellington and Justin Bethel, who were each sixth-round picks.While meeting with the media on Tuesday, Keim said they had completed their top-120 board, which ranks draft-eligible players taking into account their talent, medical history and character, both on and off the field.Keim said they expect to draft an impact player at No. 29 again, should they keep the pick.As far as which direction they may go, Keim provided no hints, though he liked the defensive line depth and Arians pointed to a handful of quarterbacks with great potential.Of course, no names were spoken.The Cardinals also have needs — center and cornerback are considered the most pressing — and should be addressed accordingly in the draft. Grace expects Greinke trade to have emotional impact Derrick Hall satisfied with D-backs’ buying and selling “When you have a roster to the point that where we feel pretty good about it, like we that could play tomorrow,” Keim said, “it makes it a lot easier to be honest with the system where you don’t feel like you have to reach for a need.”Added Arians, “Take the talented player. You will miss on the needs. The needs will get you broke and fired.”It’s been seven years since the Cardinals drafted this late in the first round, and this year marks the fifth time in the last eight years that the Cardinals’ first-round pick is 20th or later.“Quite frankly, there’s talent throughout the whole draft,” Keim said. “It’s just making sure we get it right.”last_img read more

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