Emirates has taken an innovative decision of replacing its Boeing 777-300ER operations on the EK308/EK309 routes and EK304/305 routes with the Airbus A380. The result of this, is effectively initiating an all-A380 service on its Beijing and Shanghai services.The move, effective from July 1, 2017, will strengthen Emirates’ A380 offering in northern Asia, which includes Beijing, Shanghai, Guangzhou, Hong Kong, Taipei, Seoul and Narita.On Chinese routes, the Emirates A380 offers up to 519 seats in a three-class configuration as well as the First and Business Class Onboard Lounge on the upper deck and the onboard shower spas in First Class.Shanghai was Emirates’ first Chinese destination, with freight operations in 2002, followed by passenger services to the city in 2004. Launched in 2006, Beijing routes first deployed the A380 service in August 2010.
Manchester Airport has secured a landmark route into Africa, underlining its pivotal role in connecting the North to the world’s most important markets. Ethiopian Airlines confirmed it will operate four-times-a-week service, starting from December 1, to Addis Ababa, the East African nation’s capital. The route will unlock connections to more than 58 countries across the African continent. Ethiopian Airlines, which flies to more destinations in Africa than any other carrier, will operate the ultramodern B-787 on the route with business and economy classes.It will serve as a key trade route for Northern businesses, opening up fresh export opportunities and delivering cost and journey time savings to those already operating there. The service will initially transit via Brussels.Andrew Cowan, CEO, Manchester Airport said, “The introduction of this route underlines the critical role Manchester Airport plays in connecting the people and businesses of the North to the world’s most important markets. We hope this will unlock dozens of more destinations across Africa through Ethiopian Airlines’ unrivalled network.”Tewolde Gebremariam, CEO, Ethiopian Airlines said, “We are elated to start services to Manchester, our second destination in the UK next to London Heathrow. The socio-economic implication of the new flight is immense. With vast investment and trade potentials between Africa and the UK, the upcoming flights hold the promise of boosting trade, investment and tourism with ample business opportunities for investors and business people from both regions.”Sheona Southern, Managing Director of Marketing, Manchester said, “The new route connecting Manchester with Addis Ababa is a great success for Greater Manchester and for the wider North of England. This opens up Greater Manchester to visitors, business investors and students from a new continent. Greater Manchester’s growth strategy has internationalisation at its heart, and Manchester has set a clear target to become a top global city by 2035. If we’re to achieve this aim, it’s vital that we continue to increase our connections with major international hubs, increasing the opportunities for global networks to choose Manchester as a place to visit, meet, invest and study in.”Ethiopia is Africa’s second largest country by population, with its hub airport perfectly placed to provide onward connectivity, particularly to sub-Saharan countries. The new route is set to benefit 400,000 people in Manchester Airport’s extensive catchment area.
Span Suites & Villas located in North Goa on the banks of Chapora River overlooking the hills, is in the vicinity of the famous beaches such as Morjim, Anjuna, Baga and Calangute. The complex consists of 14 Villas, 33 Suites and 1 Presidential Suite. The unique thing about this place is that it provides genuine luxury with utmost privacy.As soon as you enter the luxurious suite, you will discover a lavish living room with three bedrooms along with dining area, where you can relish the finest culinary experiences with your family, friends and colleagues. The stylishly decorated rooms come with amenities like ensuite bathrooms, private living room, private dining room in each suite and villa and many more. From within the rooms and balconies, the visitors can enjoy panoramic views of the hills and the river. The retreat offers facilities and services with a perfect level of personalised service and unswerving dedications to customer care; making the property a real sanctuary for discerning MICE travellers.An aesthetically decorated banquet hall and lush green lawn with a capacity of 2,000 PAX are best suited for hosting conferences, meetings, weddings and other social events. Food and beverage are of vital importance for all meetings and events. The Villas’ Chefs thoughtfully customises catering menus that match the theme of meetings and events.Varizya, the rooftop bar offers a stunning view of the waterfront alluring guests with an enticing blend of impressive cocktails, fine liquor and delectable food Savour the local flavours and delicacies and international cuisines prepared at the multi-cuisine restaurant, Gazebo.“It’s our great honour to introduce you to our new MICE product. With a totally integrated support system providing state-of-the-art facilities serviced by a dedicated and experienced team we are driven to make your event a success,” said Naresh Khetrapal, Director, Span Suites & Villas.
McLean Mortgage Introduces RateFlex Program in Origination In Virginia, “”McLean Mortgage Corporation””:http://mcleanmortgage.com/ announced the release of its RateFlex Program, a new concept designed to aid homeowners and prospective homebuyers in today’s volatile interest rate environment.[IMAGE][COLUMN_BREAK]Under the program, borrowers purchasing a home or refinancing their loan can lock in on an interest rate, protecting them against rate increases during the application process. If market rates move down after approval, the borrower can relock at the lower rate at no charge. While a deposit is collected at application, that charge is credited at closing, the company said in a release.””Today, consumers are more savvy with regard to shopping lenders and watching the interest markets. Many wait in the hopes that rates will move lower,”” said James Nader, EVP of capital markets and operations at McLean. “”Now the consumer can lock-in a rate with confidence because they are protected against increases, but benefit if rates decrease. It is truly a win-win situation for homebuyers and homeowners.”” December 31, 2013 594 Views Share Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Mortgage Rates Service Providers 2013-12-31 Tory Barringer
Industry Group Seeks to Restore RMBS Confidence One of the enduring legacies of the mortgage crisis is the lack of standardization in the residential mortgage-backed securities (RMBS) market, particularly as they relate to warranties and repurchase enforcement mechanisms.This, at least, is the position of the Structured Finance Industry Group, which recently released its “RMBS 3.0” plan to develop standards and reduce substantive differences within current market practices, and establish generally accepted best practices as an improvement over what the group considers a slapdash set of approaches to RMBS lending in the post-crisis market.These “green papers,” as the SFIG calls them, are the opening salvo to what the group hopes will lead to a final set of white papers that set industry-accepted practices without the government stepping in, according to Richard Johns, SFIG’s executive director. “This project is about an industry recognizing its challenges and working collectively to solve those issues in a way that does not require regulatory mandate,” Johns said. Still, he added, the 3.0 plan is meant to complement the U.S. Treasury’s efforts to bring private capital back to the market.Overall, the RMBS 3.0 effort also looks to clarify differences in alternative standards in order to improve transparency across RMBS deals, develop new solutions for a sustainable, scalable, and fluid post-crisis RMBS market, and draft alternative benchmark structural approaches to the process of RMBS lending.There would, according to the green papers, be a variety of basic models for RMBS issuance involving various types of sponsors. These sponsors—regulated financial institutions, mortgage companies, investment entities set up by banks, and mortgage REITs—would include originators of mortgage loans seeking to sponsor their own securitizations, as well as those that acquire and aggregate mortgage loans from third-party originators according to their own set of acquisition guidelines.Issuers would have different levels of risk tolerance and varying internal policies, but a given framework would need to accommodate operational differences between originators and aggregators that act in the role of securitization sponsor.”A strong, effective housing finance market requires a number of well-functioning, deep sources of liquidity,” said Eric Kaplan, chair of the RMBS 3.0 Task Force. “As an industry we recognize that the current RMBS market—a critical source of financing for the overall industry—needs continued development of best practices in order to grow and fulfill its full potential in supporting the U.S. housing market.”The release of SFIG’s second edition green papers is expected in early November. August 14, 2014 439 Views Mortgage-Backed Securities RMBS Structured Finance Industry Group 2014-08-14 Scott_Morgan in Daily Dose, Headlines, News, Secondary Market Share
June 22, 2016 591 Views in Daily Dose, Government, Headlines, News Share 2016 Presidential Election Housing Policy loanDepot 2016-06-22 Seth Welborn The upcoming presidential election has not made much of the American population feel better, even when it comes to housing. In fact, Irvine, California-based loanDepot has found that one in five Americans will vote for a candidate based on his or her stance on housing and finance policies.Adding to that, nearly 36 percent of Americans think all presidential candidates are doing a bad job of articulating their housing and finance policies, and 35 percent would like to hear more from the candidates on these topics.The findings came out in a sobering report Wednesday, which showed that American citizens do indeed want housing policy to be a front-and-center issue in the race this November. Democrats in particular (56 percent) want to hear more about such policies, but so do 39 percent of Republicans and 29 percent of millennials.The top issue voters want to hear, according to the poll, is making homeownership more affordable for middle- and lower-income families. A full 37 percent of Americans and 64 percent of Democrats claimed that as the major issue. Thirty-two percent of Republicans and millennials agreed.Keeping interest rates low was another major interest among 34 percent of Americans overall, while 11 percent said that making credit more available to small business was an important consideration.“People across the nation told us they want to hear more from the presidential candidates about their housing and financial policies on issues like income, access to credit, interest rates and affordable housing,” said loanDepot Chairman and CEO Anthony Hsieh. “The candidate who does a good job in communicating their policies moving forward has an opportunity to influence millions of potential voters.”Most Americans, according to loanDepot, expect their financial situations to stay the same or get worse as a result of the upcoming presidential election. While 66 percent of likely voters don’t expect the election will impact their personal finances, 24 percent think they’ll be worse off financially. And of those who expect be worse off, 56 percent say the candidates have done a bad job of articulating their housing and financial policies.“The candidate who does a good job in communicating their policies moving forward has an opportunity to influence millions of potential voters.”Anthony Hsieh, Chairman and CEO, loanDepotOnly six percent of all voters expect to be better off as a result of the general November election.A key issue to watch, according to the survey, is what will happen with millennials, who now outnumber baby boomers as the nation’s largest living generation of consumers. The influence of this consumer set has been anticipated as a welcome boost to home sales, especially starter homes, but reality has yet to live up to the hope.While 38 percent of home loans closed by millennials in April 2016 were FHA loans, loanDepot’s survey revealed many are still discouraged about their incomes and the election’s impact on their access to credit. In fact, 36 percent of millennials say their primary financial concern is not making enough money, and 46 percent are concerned about how the elections will impact their ability to access credit. Two out of five said making homeownership more affordable to middle- and low-income Americans should be a priority for the next president’s first 100 days.“As more millennials enter the housing market, we expect to see a higher priority placed on better borrowing options for first-time homebuyers,” said Hsieh. “loanDepot is one of the five largest FHA lenders in the country and we remain focused on helping borrowers, including Millennials, access the credit they need to finance home purchases.” Will Housing Policy Determine the Next President?
Interest rates on fixed-rate mortgages have risen by approximately 75 basis points over the last eight weeks and are at a two-year high. But how much higher are they going to get?Not very much higher—at least not in 2017, according to Greg McBride, Chief Financial Analyst for Bankrate.com. The current 30-year FRM interest rate is 4.45 percent, but McBride does not expect it will get above 4.5 percent before the end of 2017. But he believes there will be some gyration between 4 and 4.5 percent during the next 12 months.“Rates jumped about three-quarters of a percentage point on the widespread perception that we’re going to get government stimulus, tax cuts, infrastructure spending, repatriation of cash, and the things that could accelerate economic growth,” McBride said. “But markets have certainly priced in what I think is a truly best-case scenario. If reality fails to match up to those expectations, markets are going to have to recalibrate.”McBride cited the “slow growth economy” as the driver behind the expected gyrating of rates between 4 and 4.5 percent this year, but it is possible that rates might dip below 4 percent at some point, which will provide more opportunities to refinance mortgage loans for homeowners that missed their chance in 2016 while rates hovered near record lows, he said.“Even if we do get all the stimulus measures that markets have priced in, this is money that’s not likely to hit the economy before 2018. So we’re undoubtedly going to have some volatility during the year,” McBride said. “If we have a market selloff or some kind of economic scare, don’t be surprised if mortgage rates move back below that 4 percent mark for a period of time.”As for the Federal Reserve’s projection that it will raise the federal funds target rate three times in 2017, McBride said he expects only two rate hikes this year. Even so, he expects the effect of the Fed’s rate hikes on mortgage rates to be minimal.“Mortgage rates often move well in advance of any action that the Federal Reserve takes. I expect that’s going to be the case again in 2017,” McBride said. “Regardless of when the Federal Reserve raises short-term rates, by the time they do so, mortgage rates will long have reflected what the outlook is from an economic standpoint, from an inflation standpoint. These rate hikes from the Fed will be well-telegraphed. They won’t be surprises. That’s why long-term interest rates will have priced that in well in advance.” Share in Daily Dose, Featured, News Predicting the Path of Mortgage Rates in 2017 Mortgage Interest Rates 2017-01-04 Seth Welborn January 4, 2017 853 Views
in News Share Default Servicing REOMAC trade association 2017-01-23 Phil Banker Anselmo Partner Joins REOMAC Board January 23, 2017 589 Views Anselmo Lindberg Oliver LLC announced Friday partner that Thomas Anselmo formally joined the Board of Directors for REOMAC, a non-profit trade association serving the mortgage default servicing industry in America.The organization supports the success of individuals and companies in the default services industry by providing a forum for peer-to-peer networking, an environment for sharing industry best practices, and access to qualified, educated service providers.“It’s truly an honor to be elected as a member of the board of directors for this esteemed organization,” Anselmo said. “Our firm has always been dedicated to supporting and uplifting our industry peers, and being a more formal part of REOMAC gives me an unprecedented opportunity to further that support to make a broader impact.”Founded in 1985 in California, REOMAC began as a forum for lenders with REO assets to share best practices with their peers. Since then, it has evolved into a nationwide resource for those in the REO and default industry, providing members with educational and networking opportunities. The association’s foundation arm also fosters educational advancement through scholarships.Anselmo Lindberg Oliver is a real estate, default and estate planning law firm serving the greater Chicagoland area headquartered in Naperville, Illinois. They have additional offices in Oak Brook, Illinois, Indiana, Ohio, Kentucky, and Michigan. Anselmo Lindberg Oliver is also a member of Legal League 100.
February 22, 2018 657 Views in Daily Dose, Featured, News, Origination 30-Year Fixed Mortgage Rates Buyers Freddie Mac Home Homebuyer Homebuying homeowners HOUSING mortgage Mortgage Rates Realtor.com Treasury valueinsured 2018-02-22 Radhika Ojha Mortgage rates continued their upward climb this week, with 30 year fixed mortgages reaching their highest point since 2014 according to the Freddie Mac Primary Mortgage Market survey released on Thursday. The survey indicated that 30-year fixed mortgage averaged 4.40 during the week, up from 4.38 percent last week. “Mortgage rates have followed U.S. Treasurys higher in anticipation of higher rates of inflation and further monetary tightening by the Federal Reserve. Following the close of our survey, the release of the FOMC minutes for February 21, 2018, sent the 10-year Treasury above 2.9 percent. If those increases stick, we will likely see mortgage rates continue to trend higher,” said Len Kiefer, Deputy Chief Economist at Freddie Mac.How will these rate increases affect the upcoming home buying season? “Recent rate jumps are setting up another wild spring home buying season, dominated by the survival of the fittest,” said Javier Vivas, Director of Economic Research for Realtor.com. “As rates continue to increase, those with larger down payments and better credit will succeed in entering the market, while many more will continue to be priced out.”While rising rates will provide cause for some anxiety among buyers, according to ValueInsured’s latest quarterly Modern Homebuyer Survey, non-homeowners who wish to buy in the next three years report to have a lower awareness of upcoming rate hikes, or are more optimistic that a rate hike may not happen. The survey found only 57 percent of non-homeowners who wish to buy soon expect more interest rate hikes by the Fed in 2018. Among millennial first-time homebuyers, less than half (48 percent) expected more Fed rate hikes in 2018.Most homeowners believe that low mortgage rates are a thing of the past. The ValueInsured survey indicated that 72 percent of existing homeowners believed the era of historically low rates and affordable mortgages was coming to an end. This sentiment was particularly acute among homeowners of expensive homes, with 95 percent of those who reported owning a home valued at $1 million or more expecting the end of low mortgage rates in their lifetime.These statistics not only highlight the need to educate first-time homebuyers but also point to the fact that despite rising mortgage rates, demand for homes remains high. “While rising rates provoke buyer anxiety and decrease affordability, the desire to purchase a home is driven by income and family changes and will likely remain untouched by rising mortgage rates,” Vivas said. Will Rising Mortgage Rates Ruin the Homebuying Season? Share
Share McMichael Taylor Gray Appoints J. Pamela Price Foreclosure Legal League 100 McMichael Taylor Gray REO 2019-06-20 Radhika Ojha in Headlines, News, REO June 20, 2019 279 Views McMichael Taylor Gray, LLC (MTG) has hired J. Pamela Price as Managing Attorney of South Carolina. She brings with her nearly 30 years of experience representing creditors, mortgage bankers, investors, banks and credit unions with her legal expertise.Price has practiced in the area of real estate transactions, including purchases, refinances, equity lines, construction loans, and foreclosures since 1990. Additionally, she has written title insurance, as an agent, for several major title companies, including Chicago Title, Investors Title, Old Republic National Title Insurance Company, and others.The firm said that Price has been a member of the South Carolina Bar Publications Committee since 1990 and is also versed in wills, trusts, and estates.“We’re very excited to have Pamela on board. Her depth of experience, knowledge, and management capabilities will complement our team of seasoned executives,” said January Taylor, Managing Partner at McMichael Taylor Gray.Headquartered in Georgia, MTG serves its clients through every stage of the default process and in all matters associated with non-performing real and personal property collateral. The firm’s clients include banks, credit unions, private investors, and institutional investors. MTG is a Legal League 100 member providing services in the areas of foreclosures, bankruptcy, litigation, eviction, title and REO, and loss mitigation.