Flight Centre records 101 million profit

first_imgSource = e-Travel Blackboard: M.H Flight Centre (FC) has released the results of its half year accounts to December 2010, announcing a record pre-tax profit of AU$101.1 million, up 37 per cent on the previous year. Total Transaction Value rose by 12 per cent to $5.7 billion, thanks to strong sales growth in most global markets. “Overall, we have maintained our strong balance sheet, expanded our brand and business stable, achieved solid sales growth and recorded a first half PBT in excess of $100m for the first time,” FC managing director Mr Turner said. While Australian business continued to generate the majority of group profit, Mr Turner said that overseas businesses were quickly gaining ground. “The UK business, in particular, continues to perform well and is now consistently the second largest contributor to group profit, behind Australia,” Mr Turner said. With a growing global portfolio, including 36 brands in 11 countries, FC is aiming for a full year pre-tax profit of between AU$220 – 240 million dollars. “While we have had a good first half and a reasonable January, the months that traditionally represent our busiest trading periods are still to come,” Mr Turner said. The outbound leisure market continues to do well thanks to the strong Australian dollar and the continued availability of cheap international airfares, FC reported.last_img read more

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Start spreading the news Aussies heart NYC

first_imgSource = e-Travel Blackboard: D.M NYC & Co with the New York contingent in Sydney last week New York City has risen to the top ranking American city for Australians, with a whopping 58 per cent market share and some 509,000 travellers visiting the city that never sleeps in 2010, making Aussies its fourth largest overseas market.Showing strength in numbers, there were also more New Yorkers down under last week, representing at Visit USA roadshows for industry partners across Australia, with its final tradeshow to be held in Perth today. “Market growth has been tremendous, with over 20 per cent increase year on year.  Compared to 10 years ago, there are four times as many travellers to NYC, and a 61 per cent repeat visitation from Australians,” NYC & Company, Vice President Tourism Development, Makiko Matsuda Healy said.Ms Healy said NYC & Co was well on target to achieve Mayor Bloomberg’s goal to attract 50 million visitors annually to New York City by 2012.Preliminary estimates, according to NYC & Company Vice President, Travel and Tourism PR, Christopher Heywood, show 2010 to continue to ride high on 2009’s coattails, with Australian leisure visitors staying an average 11 nights spending some US$1.3 billion, making the shopaholics the second largest overseas spending market behind the UK.  With 6800 new rooms opened in 2010, NYC offers travellers a variety of accommodation choices from high end to budget style according to Mr Heywood.“There’s also hotels in new boroughs which used to be overlooked like Soho, Lower Manhattan, Brooklyn, catering to every price point,” Mr Heywood said, adding 2010 also marked the opening of the first Starwood hotel in Harlem.“Australians are intrepid travellers; they like to discover the authentic New York.  We are putting more resources into this market.”Ms Healy said NYC & Co, represented in Australia by Aviareps, would continue its push in 2011 and work more closely with trade partners in an online training programme, enabling agents to receive discounts for their own travel to the City.For more information, visit www.nycgo.com last_img read more

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Kings Canyon Wilderness Lodge on song for a Brolga

first_imgAPT’s Kings Canyon Wilderness Lodge – where the wind blowing through Desert Oak leaves produces a sound known locally as “singing” – was in fine voice on Saturday night to win the “Unique Accommodation” category at the 25th annual Brolga Tourism Awards in Alice Springs.The lodge is a tourism partnership between two Australian pioneering families who embraced the romance of the outback to create a unique accommodation option in Central Australia — APT, a wholly Australian owned family company established in 1927 by Bill Mc Geary and the Conway family whose history dates back over 100 years in Central Australia.Located on a secluded site on Kings Creek Station, Kings Canyon Wilderness Lodge is sensitively hidden, a nature experience that offers stylish, private and exceptional bush accommodation. The lodge opened in 2007 and is the only accommodation in Kings Canyon/Uluru Region to attain Ecotourism Accreditation. The 10 deluxe custom-designed luxury tented cabins with full en-suite facilities and 4-star appointment – offering the greatest of comfort in the Outback, with a perfect opportunity to absorb the natural landscapes. Gourmet Australian cuisine is served around the fire under the stars of the southern sky. Accepting the award on behalf of APT, Operations Manager, Myles McClure (pictured with award) acknowledged the vision of Ian and Lynne Conway and the dedicated team of APT professionals – whose passion and commitment ensures every guest experience is a memorable one.  “This is just a fabulous place to stay before and after exploring magical Kings Canyon,” said Mr McClure. “The Lodge fits comfortably into this stunning and peaceful part of Australia.” Source = APT Myles McClure with Brolga awardcenter_img Wilderness Lodge last_img read more

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Most hated holiday rip offs

first_imgFinding a cheap flight and bargain accommodation can save you money, but travellers’ pet hate is added unwanted holiday expenses, according to Skyscanner.A survey by the flight deal website revealed the price of withdrawing cash from ATMs overseas is the cost travellers dread the most.Travellers who take money out at an ATM can be hit with international withdrawal fees while those using their credit cards to pay for expenses along the way can end up worse off, being charged an international transaction fee for each purchase.‘Over-hyped and overpriced’ organised tours are next on the list, followed by costly hotel Wi-Fi access.Taxi fares ranked next on the most-hated list, followed by having to pay for a sunbed.Rounding out the top 10 most hated holiday rip-offs are duty free “bargains” that are not such a bargain, late checkout fees, having to pay for bottled water and tipping in bars and restaurants.The charge for global roaming on mobile phones interestingly enough did not make the list. Source = e-Travel Blackboard: K.Wlast_img read more

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CTM delivers record fullyear profit

first_imgCorporate Travel Management today reported a record full-year profit and dividend after a significant increase in top-line growth.CTM reported revenues and other income increased 79% to $197.9m on Total Transaction Value of $2,656m (up 92%), driven by the integration of international acquisitions and organic growth in all markets.CTM has upgraded full-year guidance to an Underlying NPAT in the range of $61.3m-$63.8m, an increase of 25-30%.CTM Managing Director Jamie Pherous said the results demonstrated the company’s business model and strategic investment decisions were working.“These results support the strategy we have taken to integration globally, adding value to our business by ensuring we focus on integrating technology and business culture,” Mr Pherous said.“They reflect the efforts of our award-winning team to win and retain clients, including global businesses who have recognised our international capabilities.”“We have continued to expand through increasing market share, with organic growth contributing to more than half of our top-line growth.In Australia and New Zealand, underlying EBITDA grew 19.5% to $25.7m on a 13.7% organic increase in TTV, underpinned by internal productivity gains.In Asia, underlying EBITDA grew 200%, outperforming all market competitors with 39.4% organic growth.The North American region delivered a 79.3% increase in EBITDA to $9.5m, supported by 17.3% organic growth.European acquisition Chambers Travel Group’s contribution to the group is already delivering results, with a 13.2% increase in revenue to $17.2m.The European expansion to CTM’s global network has delivered two globally significant clients in the past six months.Mr Pherous said the global network was opening up new client opportunities while delivering the supplier and efficiency benefits of scale.“We now have more than 100 clients with a presence in multiple countries who, along with other potential clients, are clearly telling us our ability to provide local expertise in all markets is incredibly important to them.“We are seeing the benefits of integrating outstanding businesses and people into the CTM group, providing a robust platform for servicing our clients and continued growth.”The CTM Board has declared a final fully franked dividend of 10.0 cents per share to be paid on October 9, 2015.Source = Corporate Travel Managementlast_img read more

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THAI holds global General Manager meeting

first_imgTHAI holds global General Manager meeting on Digital Marketing in line with Thailand 4.0 PolicyTHAI holds global General Manager meeting on Digital Marketing in line with Thailand 4.0 PolicyThai Airways International Public Company Limited (THAI), recently held a General Meeting of THAI General Managers and Airport Service Managers, to roll out company policy and strategies to boost commercial sales and revenue through digital marketing, in line with Thailand 4.0 Policy. Mr. Areepong Bhoocha-oom (fifth from left), THAI Chairman of the Board of Directors along with Mrs. Usanee Sangsingkeo (sixth from left), THAI Acting President, together outlined THAI’s policy at Royal Orchid Sheraton Hotel, Bangkok. THAIbook flights hereSource = THAIlast_img read more

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4th edition of MPTM to take place from October 2729 2017

first_imgThe fourth edition of Madhya Pradesh Travel Mart (MPTM) will be held from October 27-29, 2017 in Bhopal. Over 200 national and international buyers along with 100 exhibitors of distinct Indian markets are expected to participate in the mart.With the theme, Seek-Discover-Explore, the mart will offer a B2B platform to bring together tourism stakeholders and representatives from heritage hotels, conference venues, tour operators and wildlife parks etc.The event is supported by organisations like Association of Domestic Tour Operators of India (ADTOI), Association of Tourism Trade Organisations India (ATTOI), Indian Association of Tour Operators (IATO), Federation of Associations in Indian Tourism & Hospitality (FAITH), Travel Agents Association of India (TAAI) and Travel Agents Federation of India (TAFI).International participants attending the show include representatives from Singapore, Spain, the UK, the U.S., the Netherlands, Germany, Norway, Thailand, Poland, Austria, Australia, France etc.last_img read more

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Myanmar eyes a larger volume of Japanese tourists

first_imgMyanmar is targeting to attract more Japanese tourists by undertaking international travel advertising which showcases the pristine beaches and islands of the Myeik archipelago.Since 60% of Japanese outbound tourist likes to enjoy water activities for relaxation places like Ngapali Beach, Ngwe Saung beach, Chaungtha beach and Myeik archipelago are the top tourist attractions in Myanmar.More than 100,000 Japanese tourists visited Myanmar in 2016 of which only 15% of them visited for leisure rest were business travellers, cooperation workers and international NGO workers.Giving importance to word of mouth promotion, the Tourism Ministry of Myanmar wants the Japanese tourists to be satisfied during their trip to the country and share their experiences about Myanmar to their friends back in Japan.According to the tourist arrival statistics, Myanmar is a growing market for the travellers for short trips in Asia. The Ministry of Hotel and Tourism said that Myanmar has seen a total of 22% boost in tourist from the month of January to end of July of 2017 as compared with same period last year.last_img read more

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Coester Updating Newly Launched Cloud Control Platform

first_img in Data, Government, Origination, Secondary Market, Servicing, Technology May 10, 2012 416 Views “”Coester Appraisal Group””:www.coesterappraisals.com/ is updating its technology offerings, recently announcing enhancements to the company’s Cloud Control program. [IMAGE]The platform upgrade will add Coester’s automated appraisal review technology, C-Data, to the Cloud Control module.[COLUMN_BREAK]Cloud Control was launched in March, and the technology represents the industry’s only appraisal management tool constructed on the “”Salesforce.com””:www.salesforce.com/ platform. By adding C-Data capabilities to Cloud Control, Coester will give users an automated review process that electronically evaluates each field in an appraisal report, generating both online and printed options for observing the reports created by the program.””C-Data is like a virtual quality control inspector, except that it takes only a few minutes, it’s tireless, flawlessly consistent and expansive,”” said Brian Coester, CEO of Coester Appraisal Group. “”C-Data’s findings integrate MLS sales, AVM data and even mapped out comparables, all on one screen. And the best part is that we’re providing C-Data completely free of charge to all Cloud Control users.├â┬ó├óÔÇÜ┬¼├é┬ØCoester continued his commentary, adding, “”The current technology offered for lenders is not even close to the current technology being used by regular people, every day. At Coester … We’ll do whatever’s needed to elevate the way this industry leverages technology.├â┬ó├óÔÇÜ┬¼├é┬Ø Agents & Brokers Appraisals Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2012-05-10 Abby Gregorycenter_img Coester Updating Newly Launched Cloud Control Platform Sharelast_img read more

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Barclays Keeps Positive Builder Outlook as Housing Skies Clear

first_img January 4, 2013 420 Views in Data, Government, Origination Share Agents & Brokers Attorneys & Title Companies Barclays FHA Investors Lenders & Servicers QRM Regulation Service Providers Underwriting Standards 2013-01-04 Tory Barringercenter_img Barclays Keeps Positive Builder Outlook as Housing Skies Clear With the fiscal cliff negotiation out of the way–at least, the first phase of it–analysts at “”Barclays””:http://group.barclays.com/home assert in a “”new release””:https://live.barcap.com/PRC/servlets/dv.search?contentPubID=FC1891134&bcllink=decode that “”housing policy is transitioning from being a source of negative headline risk to a potential positive factor for the housing stocks.””[IMAGE]As the haze surrounding the state of the mortgage interest tax deduction (MID) lifts and the “”Federal Housing Administration””:http://portal.hud.gov/hudportal/HUD?src=/federal_housing_administration (FHA) prepares to make reforms to its business model, analysts Stephen Kim and John Coyle note that “”anticipated policy changes have been less severe than feared.”” While part of the fiscal cliff tax bill limits itemized deductions in some cases (due to a provision known as the Pease Restriction), Barclays does not believe the scaling back will affect higher-end home purchasing behavior, thus leaving homebuilders relatively unscathed. “”To begin with, the limitation also applies to deductions like charitable donations, so it is unclear how much any impact from the deduction limitation will affect home buying activity versus giving to charities,”” the analysts write. “”Moreover, mortgage rates are exceptionally low now, approximately 48 percent below their 20-year average of 6.46 percent. This means that the MID is theoretically less important now than in prior periods, since the benefit from locking in a lower mortgage rate will help offset the loss of the mortgage interest deduction.””The bigger threat to homebuilders–FHA’s commitment to reform its lending standards, fees, and scope in an effort to repair its financial situation–also appears to be less of a worry than first thought. [COLUMN_BREAK]So far, newly confirmed commissioner Carol Galante has committed to several major steps to be taken by the end of January: the cessation of reverse mortgage origination, an increase for down payments on loans above $625,000, and the tightening of standards for borrowers with FICO scores below 620.Those reforms are merely “”cosmetic”” and shouldn’t affect purchases very greatly, Barclays asserts.””For instance, reverse mortgages do not relate to home purchases; borrowers of loans over $625,500 should easily manage a 5% down payment; and only 3.4% of FHA’s recent loan volume went to borrowers with FICO scores below 620. Overall, we expect these changes to be incremental rather than transformative, and thus to have only a modest dampening effect on housing demand,”” Kim and Coyle write.However, should the agency take further steps to tighten standards–such as increasing down payments on entry-level buyers–builders will likely start feeling the effects.Another concern for housing and mortgage industry professionals is the nebulous “”qualified mortgage”” (QM) rule, which establishes the type of loan for which a lender is legally protected from future lawsuits. The ambiguity of the term has remained a point of debate for analysts, industry experts, and politicians, but Barclays believes a clarification is on the way very soon. While the firm originally expected the Consumer Financial Protection Bureau to issue a final standard as soon as January 21, Kim and Coyle now believe the QM definition standards may be released as early as January 9. This is critical, they say, as the current environment has many banks (particularly smaller institutions) erring on the side of caution, creating a restrictive credit market.With the road seemingly clear, Barclays maintained its “”Positive”” outlook for homebuilding and building products.””To be sure, the mortgage policy decisions facing regulators are far from being resolved, but we now believe that investors have essentially come up the learning curve on these issues,”” the analysts write. “”Going forward, we think mortgage policy issues will pose a more modest threat, and that clarification on these issues during the year could provide incremental upside to the stocks.””last_img read more

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Global DMS LendingQB Integrate Platforms to Streamline Appraisal Management

first_imgGlobal DMS, LendingQB Integrate Platforms to Streamline Appraisal Management in Data, Government, Origination, Secondary Market, Servicing, Technology “”Global DMS””:http://www.globaldms.com/home, a Pennsylvania based provider of Web-based compliant valuation management software, announced it has integrated its valuation management software with “”LendingQB’s””:http://www.lendingqb.com/ end-to-end, browser-based loan origination system (LOS).[IMAGE]Lenders are now able to access Global DMS’ eTrac platform to handle all of their valuation needs without having to leave LendingQB’s platform. The new interface also establishes system-to-system transaction processing that speeds up the ordering and appraisal management process for lenders by eliminating duplicate data entry, providing real-time appraisal process status updates and communication functionality between lenders and their valuation vendors.””Our interface to Global DMS’ eTrac system utilizes a three-point integration to allow our clients to easily order and manage appraisals; check real-time order status; and receive completed appraisal files back into the LendingQB LOS E-Docs Platform,”” said LendingQB president Binh Dang. “”Most LOS platforms and valuation software systems don’t integrate seamlessly with one another, which makes it difficult for lenders and their appraisal management companies (AMCs) to share crucial data and communicate effectively.””According to a release from Global DMS, the integration is part of “”a major initiative to advance valuation compliance by tightly integrating the company’s eTrac platform with LOS vendors,”” thus creating a seamless, efficient, cost-effective, and fully compliant process. “”Due to numerous new and changing government regulations, appraisal independence has obviously become a major concern for lenders to keep apace and avoid penalties,”” said Global DMS CEO Vladimir Bien-Aime. “”Our solutions are proven to keep lenders in compliance, reduce costs, increase revenue, operate more efficiently and mitigate risk. Having trusted integration partners like LendingQB only provides more value for our mutual clients.”” Agents & Brokers Appraisals Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2013-01-28 Tory Barringercenter_img January 28, 2013 452 Views Sharelast_img read more

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May Home Sales Fail to Match Rise in Inventory

first_img in Daily Dose, Data, Featured, Headlines, News Home Sales Housing Supply Redfin 2014-06-13 Derek Templeton May Home Sales Fail to Match Rise in Inventory The housing market took an unexpected dip in May, with home sales dropping year-over-year despite a surge in new listings.A report published by Redfin’s Research Center indicated that home inventory was up 9.1 percent in May. That number represents the highest number of new listings to come onto the market in the last four years. The biggest increases in new listings were in Ventura, West Palm Beach, and Baltimore.At the same time, the actual number of homes sold dropped 10 percent. The drop in actual sales surprised analysts, who had been predicting a flood of new home purchases once inventory was in greater supply.The drop in actual sales creates questions about whether potential buyers are as interested in getting into the market as they were once perceived.”Housing is at an inflection point, where traditional buyers are needed to fill the gap in demand left by waning investors who dominated the market last year,” said Redfin chief economist Nela Richardson. “Low wage growth has stunted demand in some metros; others have been plagued by persistently low inventory. Metros that are reversing these trends, with rebounding job growth and inventory increases, will see the resurgence of traditional buyers necessary for stable housing markets.”The report notes that real estate agents are seeing the balance of power shifting back in the buyers’ direction as higher inventory gives them more choices and more negotiating power.”The past two years have been extremely challenging for buyers,” remarked Los Angeles-based agent John Venti. “For example, last spring it wasn’t uncommon for homes to have upwards of 20 to 30 offers. This year, I’ve seen the market shift in buyers’ favor; they are now having a much easier time finding homes and getting their offers accepted.”Demand is still high, but the inventory crunch is easing as more listings hit the market,” he finished.center_img June 13, 2014 510 Views Sharelast_img read more

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Lawmakers Debate Too Big to Fail and Systemically Important Tag

first_img July 9, 2015 483 Views The debate over whether  “too big to fail” has ended and the criteria for designating a bank holding company as “systemically important” under Dodd-Frank has continued this week as lawmakers convened to discuss the controversial law and its effect on the American financial system.One notable of Wednesday’s House Financial Services Financial Institutions and Consumer Credit Subcommittee hearing was that many commentators, including members of Congress and banking regulators, have criticized the way bank holding companies are arbitrarily designated as “systemically important financial institutions” (SIFIs) under Dodd Frank. Under the law, the Federal Reserve is required to apply enhanced prudential standards to bank holding companies with $50 billion or more in total consolidated assets – thus creating a “de facto” SIFI designation for these institutions.”Neither the statutory text nor its legislative history offers a clear explanation for why Congress chose a bright-line $50 billion asset threshold for application of enhanced standards,” said Debevoise & Plimpton Partner Satish Kini, one of the witnesses at the hearing. “To the best of my knowledge, no economic studies or other data were cited by Congress in establishing this threshold.”Bank holding companies (companies that own or control one or more U.S. banks or have a controlling interest in one or more U.S. banks) that are designated as SIFIs under Dodd-Frank are therefore “too big to fail” and would receive a taxpayer-funded bailout if their economic stability were to be threatened. Some members of the Subcommittee contended at the hearing that Dodd-Frank is codifying “too big to fail” by continuing to designate firms (both banks and non-banks) as SIFIs, therefore guaranteeing those firms a federal backstop should a financial crisis occur.”As policy makers, we must always strive to be precise when improving legislative frameworks as to minimize unintended consequences,” said Congressman Randy Neugebauer (R-Texas), Chairman of the Financial Institutions and Consumer Credit Subcommittee. “I hope this hearing allows members to begin to consider different ways of measuring systemic importance and the regulatory consequences of being designated a SIFI.”One of those unintended consequences is the cost of maintaining “additional liquidity buffers” for banks to insure themselves against economic downturns, according to Zions Bancorporation Chairman and CEO Harris Simmons, one of the witnesses at the hearing.”While it is important for every depository institution to maintain appropriate levels of reserves to deal with normal fluctuations in cash flows, maintaining additional liquidity buffers as an insurance policy against times of extreme stress will almost certainly be a costly exercise for banks and for the economy at large,” Simmons said. “Every dollar invested in high quality liquid assets is a dollar that cannot be loaned out and put to more productive use. The impact will likely be most particularly acute for smaller and middle-market businesses that do not have ready access to the capital markets, and for whom bank credit is their financial lifeblood.”The same day as the Subcommittee hearing on the designation of banks as SIFIs, U.S. Department of Treasury Secretary Jacob Lew said in an address at the Brookings Institution that SIFIs are held to higher standards for taxpayer protection – that that the law ended “too big to fail.””To keep taxpayers from ever having to step in to save a financial firm again, Wall Street Reform ended ‘too big to fail’ as a matter of law,” Lew told the audience. “In addition, regulators now have modern, commonsense tools to protect taxpayers.  For example, the FSOC can designate large institutions as “systematically important” and hold them to higher standards.  Also, in the event of a crisis or a bankruptcy, regulators can seize large financial institutions and wind them down in an orderly way.”American Enterprise Institute Resident Scholar Paul Kupiec, one of the witnesses at the hearing, said the basic premise behind the “too big to fail” theory was flawed.”Many argue that the TBTF [too big to fail] problem arises because SIFI financial institutions are so large and important that they are incapable of being reorganized in a judicial bankruptcy process without causing widespread financial market distress and disrupting economic growth,” Kupiec said. “The financial crisis that reached a crescendo after the September 2008 Lehman Brothers bankruptcy is often cited as evidence that supports the TBTF hypothesis, but such ‘proof’ ignores the possibility that the Lehman Brothers bankruptcy was caused by an advanced financial crisis already in progress―and the failure was not the cause of the financial crisis that peaked in the fall of 2008.” Share in Daily Dose, Government, Headlines, News, Uncategorizedcenter_img Financial Institutions and Consumer Credit Subcommittee House Financial Services Systemically Important’ Too Big to Fail 2015-07-09 Staff Writer Lawmakers Debate ‘Too Big to Fail’ and ‘Systemically Important’ Taglast_img read more

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Will Trumps Economic Advisers Help Housing

first_img Donald Trump Economic Advisers Housing Market Presidential Campaign The Collingwood Group 2016-08-05 Seth Welborn Share in Daily Dose, Government, Headlines, News Republican presidential nominee Donald Trump has announced his list of economic advisers, which is laden with financial industry executives and real estate industry executives.During his presidential campaign, Trump has said very little about housing. He has spoken out on financial reform, promising to eliminate the Dodd-Frank Wall Street Reform and Consumer Protection Act which President Obama signed into law in 2010.The list of Trump’s economic advisers includes (among others):Tom Barrack, founder of private equity firm Colony Capital.Andy Beal, founder of Beal Bank and several other financial firms.Stephen Calk, founder of Federal Savings Bank and National Bancorp Holdings, which is primarily focused on increasing home ownership among veterans.Steven Feinberg, co-founder of private equity firm Cerberus Capital Management, which focuses on investing in distressed assets.Howard Lorber, CEO of Vector Group, a publicly traded company involved in the real estate and consumer products industries.Steven Mnuchin, CEO of Dune Capital Management, a private investment firm. Mnuchin is also a former Goldman Sachs executive, and interestingly enough, contributed multiple times to Hillary Clinton when she was a senator.John Paulson, president of hedge fund Paulson & Co.Steven Roth, CEO of Vornado Realty Trust.Now with several economic advisers with real estate backgrounds on his team, will Trump speak out more frequently on the topic of housing and on boosting the homeownership rate? And if Trump is elected, will this group work to increase the homeownership rate?“Relative to housing, I hope this impressive group of economic advisers highlight for Mr. Trump the tight credit market and its negative impact on the ability of middle class families to buy a home in particular minority homebuyers,” said The Collingwood Group Vice Chairman Brian Montgomery, former Assistant Secretary of HUD and FHA Commissioner. “I would also add to the list soaring apartment rental rates especially in urban markets making it nearly impossible for lower income families to live there, a regulatory environment that has driven the cost to originate a mortgage loan to record high levels, and finally how to begin extracting the full faith and credit of the US government from a $6 trillion housing market and bring back private capital.”Trump’s Democratic opponent for the presidency, Hillary Clinton, rolled out a plan to increase the homeownership rate at the beginning of the year, but otherwise has said little about housing.“Housing in general needs to be a topic both candidates give higher priority to,” Montgomery said.center_img August 5, 2016 590 Views Will Trump’s Economic Advisers Help Housing?last_img read more

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Why is Homeownership Declining in Metros

first_img March 1, 2018 617 Views Owning a home might be the American Dream, but a recent Trulia report on homeownership trends between 2000 and 2016, shows that there has been a sharp decrease in homeownership in some of the largest cities in the country. Trulia analyzed census data for this report from 2000 to 2016 collected every decade. This time period is quite rich for the analysis since it has seen the complete cycle — expansion, recession, and recovery. While 2004 marked a boom with the highest homeownership rate of 69.2 percent,  it showed a bust with homeownership falling to 62.9 percent. The biggest decrease in homeownership rate was recorded for Glendale, Phoenix from 92.6 percent in 2000 down to 50.5 percent in 2016. A major reason behind this enormous slump is the construction of new apartment units.The highest switch from renting to homeownership is in Georgia Tech neighborhood in Atlanta (ZIP code 30313). This change can be attributed to average household income that increased from 13.1 percent in the year 2000 to 32.5 percent in 2016. Upon careful study of homeownership data, Trulia noted that not only are there visible homeownership patterns within the states and cities but there are also patterns to be observed within ZIP codes. For instance, New York and Houston showed ownership trends dropping in certain zip codes while picking up in others. The overall homeownership rate in the two states is fairly close to that in 2000.There are two major factors that define changes in homeownership pattern – household income and family dynamics. In smaller areas such as North San Jose, Riverview, St. Louis and Maryvale, Phoenix, the income increase shows a gap of average 6.8 percent when compared to their metropolitan surrounding areas. Another key factor that should be taken into account when predicting household trends is the type of new construction – multifamily or single family. North San Jose and Maryvale also comprise of a large number of multifamily units which accounts to lower homeownership. Homeownership homes HOUSING Rent trends Trulia ZIP codes 2018-03-01 Radhika Ojha Sharecenter_img in Daily Dose, Data, Featured, News Why is Homeownership Declining in Metros?last_img read more

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Eye on the Industry Updates on Chase MGIC and More …

first_imgEye on the Industry: Updates on Chase, MGIC, and More … April 12, 2018 604 Views Share From new partnerships and products to recent appointments, get the latest buzz from the mortgage industry in this weekly update.New York-based Chase Bank has launched an offer for select Chase cardmembers to earn between 25,000 and 75,000 Ultimate Rewards points or MileagePlus miles when purchasing a home with Chase. Following an enthusiastic response from Sapphire customers last year, eligible Sapphire, Freedom, and United MileagePlus Club or Explorer cardmembers can earn Ultimate Rewards points or MileagePlus miles by purchasing a mortgage with Chase before August 31. Customers can redeem their Ultimate Rewards points for just about anything from travel and gift cards at a variety of retailers, to cash back and other experiences. United cardmembers can redeem United MileagePlus miles a variety of ways, including travel, dining, shopping, and MileagePlus Exclusives, which provides program members with access to some of the world’s best events and experiences. Last year, Chase designed the pilot offer specifically for millennials, given their strong relationship with the Chase Sapphire Reserve card, but this year Chase moved to open the program up to a larger audience. Freedom has the broadest customer base with a wide variety of backgrounds, incomes, and lifestyles.___________________________________________________________________________________Milwaukee-headquartered primary mortgage insurance company Mortgage Guaranty Insurance Corporation (MGIC) is partnering with Down Payment Resource (DPR), a provider of information on down payment assistance programs for homebuyers and professionals to help its customers access discounted DPR services to research down payment programs. Through this partnership, MGIC will make it easy for lenders to research down payment assistance programs and match borrowers to programs for which they may be eligible. MGIC and DPR will also work together to enhance consumer understanding of the availability and benefits of down payment assistance. “Our new partnership with Down Payment Resource simplifies and streamlines the participation of lenders in down payment assistance programs,” said Margaret Crowley, VP, Marketing and Customer Experience at MGIC. “Together, we can further our shared mission of making homeownership possible sooner through low-down-payment options for borrowers.” MGIC, the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the U.S., Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality.______________________________________________________________________________Homeowners Financial Group (HFG) is one of the first Arizona-based mortgage lenders to complete an eClosing with Pavaso, a leading eClosing technology provider. “Pavaso was tasked with supporting HFG’s National Builder Division by making the entire home buying experience easier and more efficient,” said Pavaso CEO Mark McElroy. “In providing a superior digital closing experience, HFG is better able to attack one of the traditional pain points in the home buying process—the closing—and transform it into the gateway to homeownership.” Pavaso’s cutting-edge technology provides a single NPI secure portal for all parties to the transaction—lender, title, and consumers, which promotes collaboration, transparency, and improved business processes. Its technology is flexible enough to apply in all environments and enables users to conduct the full breadth of digital closings ranging from hybrids to eNotes and eVault. “There are two ways to implement great technology that enhances the client experience: build it yourself or trust an experienced vendor that can work with you to offer the best solution,” said Patrick Lamb, President, Homeowners Financial Group.__________________________________________________________________________________David SmithRanjit BhattacharjeeBrad WaymanCiti’s Mortgage and Retail Bank, has appointed three new executives to its Mortgage team. CitiMortgage’s Head of Originations Operations, David Smith, will now serve as the COO of U.S. Retail Bank and Mortgage, driving business strategy, operations, and financial planning across Citi’s newly combined business, while continuing to lead the launch of digital end-to-end mortgage origination capability. Smith’s organization will include ATM Network, Branch Oversight and Consumer Sales Practices, Strategic Transformation Projects, and Vendor Strategy, as well as PMO for Capacity Planning and Investment Prioritization, and Prioritization and Technology. Taking over as the Head of U.S. Mortgage, Ranjit Bhattacharjee will lead the growth of Citi’s Mortgage business in close partnership with Retail Banking. He previously served as Mortgage’s Head of Capital Markets and Correspondent Sales. Additionally, Brad Wayman will lead Citi’s Mortgage Sales teams as the Head of U.S. Mortgage Sales. Since joining Citi in 2003, Wayman has led teams in retail, wholesale and correspondent lending. Wayman’s team will include Distributed Retail Sales, Direct to Consumer Sales and Sales Support, and Business Development._______________________________________________________________________________Bill ErvinPlanet Home Lending, LLC, a privately held mortgage lender and servicer founded in 2007, announced that Bill Ervin has joined the company as VP of Business Development supporting the company’s retail originations channel. Planet Home Lending is a privately held, national residential mortgage lender with multiple business channels. The company is an approved originator and servicer for FHA, VA, and USDA as well as a Freddie Mac and Fannie Mae Seller/Servicer, and a full Ginnie Mae Issuer and approved sub-servicer. Previously, Ervin was Senior Business Development Manager at CrossCountry Mortgage, Inc. and Citibank, N.A. While at Citibank, Ervin launched a partnership channel that drove more than $1 billion in annual builder and Realtor mortgage referral volume. Ervin brings expertise gained from more than two decades of mortgage banking industry experience at companies ranging from technology start-ups to global banks. “Ervin is an accomplished mortgage industry executive who’s great at relationship building,” said Michael Dubeck, Planet Financial Group President, and CEO. “His unique experiences in sales, business development, and technology will help us continue to grow Planet Home Lending’s consumer-direct business.”__________________________________________________________________________center_img Borrowers Chase Citi Mortgage eClosing homes Lenders mortgage Mortgage Guaranty Insurance Corp. Pavaso Planet Home Lending 2018-04-12 Radhika Ojha in Daily Dose, Featured, Newslast_img read more

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Decofrutedited by wwwfreshfruitportalcom Freshf

first_imgDecofrut/edited by www.freshfruitportal.comFreshfruitportal.com is not responsible for the information provided by State of the Market. The contents only reflect analysis carried out by Decofrut. November 21 , 2018 You might also be interested incenter_img Northern Hemisphere market report for Week 46 (ending November 16)last_img

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Cathay Pacific has announced an Economy Class sale

first_imgCathay Pacific has announced an Economy Class sale on flights to Shanghai AND launched a competition to support Port Adelaide Football Club (AFL) with their historic, inaugural AFL game in Shanghai this year.SALEAcross all Economy flights from Australia to Shanghai, departing 1 May to 30 November 2017, with flights starting from AUD$675 and must be booked by 24 April 2017.See T & CsCompetitionAs part of their Port Adelaide Football Club Sponsorship, the airline is offering fans the chance to see the Power play in the historic, inaugural AFL game in Shanghai this year.Port Adelaide is set to make history as the host of the first AFL Premiership season game in China. The Club will travel to Shanghai’s Jiangwan Stadium to play the Gold Coast Suns on Sunday 14 May, in a game that will be broadcast back into Australia by host telecast partner Channel 7.As Port Adelaide’s official international airline & Premier Partner in 2017, Cathay Pacific is offering flights, tickets to the game and accommodation for three lucky winners to support the Power at this memorable event.The competition ends on 27 April. Cathay PacificShanghailast_img read more

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agentsairlinesEvent Famil photosLas VegasLVCVB

first_imgagentsairlinesEvent & Famil photosLas VegasLVCVB A group of nine Aussie agents and PCOs has recently returned from four action-packed nights in Las Vegas, thanks to the Las Vegas Convention and Visitors Authority (LVCVA), Delta Air Lines and Virgin Australia.LVCVA designed the famil to educate agents and PCOs on some of the amazing things that the city can offer their clients.“With around 150,000 hotel rooms, unique experiences and activities for groups, exceptional dining and plenty of air access, it’s no wonder Las Vegas constantly ranks among the top MICE destinations in the world,” said Bart Druitt, LVCVA AUS/NZ. Staying in style at MGM Grand and Aria Las Vegas, attendees got the full VIP experience with a backstage meet and greets at both Mystère by Cirque du Soleil and Blue Man Group. They toured the Vegas Strip by night via helicopter, took a walking food tour, ziplined over Bootleg Canyon and got down and dirty at Dig This Las Vegas.Cirque du SoleilBack row from left: Ashley Sweeney, Antipodeans; David Loboja, All Aussie Travellers; Bart Druitt, LVCVA AUS/NZ; Karen Caba, Total Travel Management; Frances Pearson, Horizons Group TravelFront row from left: Justine Till, Educating Adventures; Stuart MacKenzie, Cirque du Soleil; Sarah McMath, Virgin Australia, Orsi Debulay, Gullivers Sport and Music Travel; Linda Hogan, iTravel Ryde; Melanie Kelaher, Allsorts TravelBlue Man GroupBack row from left: Frances Pearson, Horizons Group Travel; David Loboja, All Aussie Travellers; Blue Man; Bart Druitt, LVCVA AUS/NZ; Sarah McMath, Virgin Australia; Karen Caba, Total Travel ManagementFront row from left: Ashley Sweeney, Antipodeans; Linda Hogan, iTravel Ryde; Justine Till, Educating Adventures; Melanie Kelaher, Allsorts travel; Orsi Debulay, Gullivers Sport and Music TravelExcalibur Back row from left: Melanie Kelaher, Allsorts Travel; Karen Caba, Total Travel ManagementFront row from left: Justine Till, Educating Adventures; Orsi Debulay, Gullivers Sport and Music Travel; Sarah McMath, Virgin Australia; Bart Druitt, LVCVA AUS/NZ; Linda Hogan, iTravel Ryde; Ashley Sweeney, Antipodeans; David Loboja, All Aussie TravellersLas Vegas SignBack row from left: Karen Caba, Total Travel Management; Melanie Kelaher, Allsorts travel;Front row from left: Linda Hogan, iTravel Ryde; Orsi Debulay, Gullivers Sport and Music Travel; Bart Druitt, LVCVA AUS/NZ; Justine Till, Educating Adventures; Sarah McMath, Virgin Australia; Ashley Sweeney, Antipodeans; David Loboja, All Aussie TravellersDig This Las Vegas Back row from left: Frances Pearson, Horizons Group Travel; Sarah McMath, Virgin Australia; Justine Till, Educating Adventures; Melanie Kelaher, Allsorts TravelFront row from left: Karen Caba, Total Travel Management; Ashley Sweeney, Antipodeans; Orsi Debulay, Gullivers Sport and Music Travel; Linda Hogan, iTravel Ryde; Bart Druitt, LVCVA AUS/NZ; David Loboja, All Aussie TravellersNew York New YorkBack row from left: Karen Caba, Total Travel Management; Melanie Kelaher, Allsorts travel; Bart Druitt, LVCVA AUS/NZ; David Loboja, All Aussie TravellersFront row from left: Orsi Debulay, Gullivers Sport and Music Travel; Sarah McMath, Virgin Australia; Linda Hogan, iTravel Ryde; Ashley Sweeney, Antipodeans; Justine Till, Educating Adventureslast_img read more

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famil and event photos

first_imgfamil and event photos Agents on Bunnik’s Egypt Mega Famil are embracing the culture and fun times as these pics from Sunday night’s galabeya party onboard a Nile Cruise from Aswan to Luxor illustrate!Donning their various and diverse galabeya – a traditional loose, full-length gown with wide sleeves, often decorated with embroidery – the men and women in the group displayed every colour and intricate bling imaginable in their choice of outfits for the unforgettable experience.last_img

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