5 people who need to visit the Ultrastar Multi-tainment Center 5 things to look for when selecting an ophthalmologist (Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) 0 Comments Share Milstead says best way to stop wrong-way incidents is driving sober 4 must play golf courses in Arizona Top Stories New Valley school lets students pick career-path academies Ex-FBI agent details raid on Phoenix body donation facility Former Arizona Rep. Don Shooter shows health improvement Sponsored Stories LONDON (AP) – An 84-year-old man was sentenced Wednesday to 13 years in prison for repeatedly raping a deaf and mute girl he trafficked into Britain and kept as a virtual slave.Ilyas Ashar _ who brought the girl into the U.K. from Pakistan in 2000 when she was about 10 _ was found guilty of rape by a jury last week. He was convicted at an earlier trial of trafficking and benefits fraud charges in relation to the child. The victim, who cannot be identified for legal reasons, was beaten and kept in a cellar of the Ashar family home in the Manchester area of northwest England.In sentencing, Judge Peter Lakin said neither Ashar nor his wife had expressed any remorse and failed to treat the girl as a human being.“To you she was merely an object to be used, abused and cast aside at will,” he said.The girl _ who could not read or write _ was taught to write her name by Ashar and his family so they could claim benefits.Ashar’s wife, Tallat, was jailed for five years on trafficking and benefits fraud charges.The couple had pleaded not guilty.Prosecutor Peter Cadwallader praised the victim’s courage and “extraordinary resilience” in testifying in court.When she was rescued in a police raid in 2009, the victim did not know formal sign language.British prosecutors and police arranged specialist support so that she could participate in the court proceedings, having an intermediary and a sign-language expert to help her communicate in court.Speaking through an interpreter and using sign language, the victim described how she was hit with a rolling pin while forced to work for no money, made to sleep on a concrete floor in a bolted cellar and sexually abused.
Top ways to honor our heroes on Veterans Day Local media reported that they face possible fines.Herrera, affectionately known by his nickname, “the Louse,” is famous for his exuberant sideline displays during last year’s World Cup in Brazil.But he drew a backlash for tweets backing the Green Party, which ran a slick advertising blitz and was fined millions of dollars for violating campaign laws.“Don’t forget to vote, let’s go with the Greens,” and “The Greens fulfill” their promises, Herrera said Sunday on Twitter. Green is traditionally the Mexican national team’s color, but the “The Greens Fulfill” was a party campaign slogan.Electoral law forbids campaigning by parties on election day, but Green Party officials said they had nothing to do with Herrera’s tweets or a series of very similar messages sent by a variety of television and music stars.Herrera was defensive about the tweets at a news conference Sunday, after the national team lost 2-0 in a friendly match with Brazil.“I’m a human being, I’m a normal Mexican citizen, with statements that I can make in social media,” Herrera said. “It’s simply a personal situation.” Ex-FBI agent details raid on Phoenix body donation facility Comments Share MEXICO CITY (AP) — The Mexican Soccer Federation is investigating national team coach Miguel Herrera and two players over politically tinged tweets sent the day of the country’s recent elections.The federation said in a statement issued Monday night that it will evaluate whether Herrera, striker Oribe Peralta and midfielder Marco Fabian violated its code of ethics, which calls for “maintaining a neutral position on matters of a religious or political nature.” Milstead says best way to stop wrong-way incidents is driving sober Here’s how to repair and patch damaged drywall Natural spring cleaning tips and tricks for your home Peralta, who plays professionally for Club America of Mexico City, sent tweets urging followers to vote using a hash tag that translates as “WearGreen” and was used by others to promote the party. “I want a #GreenMexico!” he tweeted Sunday.Fabian, of Guadalajara’s Chivas, retweeted Herrera and also posted one of his own using the “WearGreen” tag.Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Men’s health affects baby’s health too Sponsored Stories Top Stories New Valley school lets students pick career-path academies
“The work will start at eight to 10 locations at the same time … in the areas most exposed to the immigration pressure,” Szijjarto said on state television. “This means the areas most used by human traffickers.”Meanwhile, the U.N. refugee agency urged Hungary to refrain from implementing a plan which could make its asylum system more restrictive for refugees, saying the “proposals would have devastating implications” for them.Hungarian lawmakers are expected to soon debate draft legislation from the Interior Ministry which, among other measures, would allow authorities to detain asylum seekers for prolonged periods and restrict the right of those making repeated asylum claim to remain in Hungary while their cases are decided“We fear that the new amendments will make it impossible for people fleeing war and persecution to seek safety in this country,” Montserrat Feixas Vihe, the UNHCR’s regional representative for Central Europe, said in a statement. “We understand Hungary’s national security concerns, but this should not victimize the victims.”Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Here’s how to repair and patch damaged drywall Ex-FBI agent details raid on Phoenix body donation facility Sponsored Stories Top Stories Mesa family survives lightning strike to home The difference between men and women when it comes to pain BUDAPEST, Hungary (AP) — A fence on the Serbian border to stem the flow of migrants and refugees will be built within a few months, beginning with the areas most used by human smugglers, Hungary’s foreign minister said Thursday.Peter Szijjarto said that the 4-meter (13-foot) high fence would “defend Hungary and the European Union from the startling scale of illegal immigration pressure.” Szijjarto said that police had detained more than 68,000 people who according to the government entered Hungary illegally this year, nearly all arriving from Serbia. Comments Share Get a lawn your neighbor will be jealous of Men’s health affects baby’s health too New Valley school lets students pick career-path academies
<a href=”http://www.etbtravelnews.global/click/1e2f4/” target=”_blank”><img src=”http://adsvr.travelads.biz/www/delivery/avw.php?zoneid=10&cb=INSERT_RANDOM_NUMBER_HERE&n=a5c63036″ border=”0″ alt=””></a> EasyJet has joined forces with Airbus and Norwegian Institute for Air Research (NAIR) to trial groundbreaking technology that has been designed to help carriers avoid volcanic ash-type disruptions. The technology, known as Airborne Volcanic Object Identifier and Detector (AVOID), uses infra-red technology to detect volcanic ash up to 1000km away, at altitudes of up to 15,000m.”The ash detector will enable our aircraft to see and avoid the ash cloud, just like airborne weather radars and weather maps make thunderstorms visible,” said Andy Hamilton, CEO of EasyJet. When the whole air fleet eventually adopts this new technology, it will become possible to map precise real-time volcanic ash concentration areas throughout the entire world. The ash sensors would make such things as the recent European airspace shutdowns a thing of the past.“This is a huge step forward,” said Andy Hamilton, whose company—EasyJet—is contributing $1.2 million to aid the research. “This pioneering technology is the silver bullet that will make large-scale ash disruption history.”Dr. Fred Prata, a scientist from NAIR, is leading the ash sensor project and is currently conducting tests to trial the new technology. “We need to validate the technology. We haven’t done this yet on a commercial jet,” Prata told the London Times.Since there is not a large amount of ash currently erupting from Iceland’s Eyjafjallajökull volcano, the testing is currently being done in the region of small active volcanoes in Sicily.Prata has warned the airlines to go forward with the research and not put it off till later, since the Icelandic Volcano is currently sleeping. “There will be a next time. Volcanoes have been around for millions of years,” he said.As a direct result of the Eyjafjallajökull eruption on April 15, the aviation industry has lost over $3 billion, as 100,000 aircraft were grounded for weeks with millions of passengers stranded at airports unable to fly. The Civil Aviation Authority (CAA) was criticized for being too conservative with the airspace shutdowns, which resulted in huge losses for a number of airlines. CAA’s CEO Andrew Haines has commended EasyJet’s decision to sponsor the research. “The CAA welcomes the fact that airlines are considering innovations such as this and we will do all we can to facilitate them,” he said in a statement. “It is essential that the aviation community works together to develop solutions to minimize disruption, should ash return.””I very much hope that this is a sign that the industry is ready to play its part in finding a fundamental solution … rather than pretending that the problem does not exist,” he added.EasyJet has announced plans to have 12 of its planes equipped with ash sensors by the end of this year, which will put the airline at a distinct advantage over other airlines, should another volcanic eruption eventuate. Source = e-Travel Blackboard: C.F
Crown Towers Perth, Artist’s Impression Source = e-Travel Blackboard: P.T Crown Limited’s new project; the six-star, 500-room luxury hotel, Crown Towers Perth is set to significantly impact tourism in Western Australia, according to the local industry. Crown has invested $568 million into the hotel’s construction, which will begin in 2013 and take three years to complete, opening for business in 2016. The new hotel will become part of the Burswood Entertainment Complex, which Crown Limited purchased in 2004 for $900 million, making the company’s total investment in Perth $2.2 billion. Western Australia premier Colin Barnett said Crown Towers Perth was expected to produce $60 million in annual tourism expenditure and draw an additional 79,000 extra visitors to Western Australia each year.“This will go a long way to alleviating the chronic room shortage that has been negatively affecting Perth’s tourism industry and the overall WA economy.” Tourism Minister Kim Hames noted the advantages the new hotel would possess for WA tourism, employment, room numbers and entertainment.“Crown Towers is a welcome asset for tourism in this State and will particularly assist in catering to the emerging Chinese and other Asian markets,” Ms Hames said.“This new development will be of great benefit not just for visitors, but also residents with new jobs for workers, and fresh entertainment options for West Australians.”“Perth currently leads all Australian capitals on occupancy, average room rates and revenue per available room, however only 223 net new rooms have been opened in the city since 2006, none of which involved a new hotel opening.” Upon completion, Crown Towers will be the largest hotel in Perth and will take hotel room capacity at Burswood to nearly 1,200 rooms, according to a statement released by Burswood Entertainment Complex. Burswood Entertainment Complex agreed to purchase the land for the development of Crown Towers Perth from the State Government at $60 million. In keeping with the principle agreement with the Government and to meet the expected increase in demand from the growing population and increased visitor numbers to Perth, the Government has not opposed an application for 500 additional gaming machines and 130 additional gaming tables, including new private gaming salons, subject to approval from the Gaming and Wagering Commission of Western Australia.
Source = e-Travel Blackboard: M.H Just days after admitting the London Games were having a “patchy” impact on some businesses, Lord Mayor of London Boris Johnson has welcomed figures showing a rise in visitor numbers to busy tourism and shopping areas in the city. Contrary to reports of theaters, restaurants and tourist areas in London being deserted for fear of Games crowds, footfall – the number of people entering a business – over the past few days has actually increased in the London areas of Piccadilly, Haymarket, Shaftesbury Avenue and St James’s. According to Heart of London, the organisation representing businesses in these areas, during the first working week of the Games, footfall was up 11.6 percent on the previous week and 16.2 percent on the same week in 2011, the Press Association reported. Additionally, Mr Johnson announced that the London Underground carried more passengers on the middle Friday of the Games than on any other day in its history with 4.4 million customers – the previous record had been set the day before when 4.3 million commuters used the Tube. “This is testimony to years of meticulous planning and billions of pounds in investment which combined has ensured that athletes, spectators, officials and media are being ferried smoothly to their events,” he said.In related news, VISA has announced that international travelers to London spent US$700 million on their accounts during the first week of the Games, with the top spenders hailing from the US, Japan, France, Italy and Australia. According to VISA, spending categories that experienced the greatest activity were “services” ($133.7 million) – including items such as shoe and jewelry repair and spas, “entertainment” ($95.5 million), “airlines” ($82.9 million), “other retailers” ($71.8 million) – including bike shops, book stores, antique shops and drug stores, and “hotels” ($69.3 million).Meanwhile, while their compatriots top the medal tally, Chinese visitors to the Games are spending a record average of £203.04 (US$316.36) per purchase, local Chinese media reported. The true effect of the Games on London won’t be known for some time (Image Finance Fox)
Etihad Airways wants to increase its stake in Virgin Australia from 19.9 percent to 23 percent. Etihad Airways is seeking to use ‘creep provisions’ in the Corporations Act to back its desire to own nearly a quarter of Virgin. Forseeing approval from the FIRB, Eithad has lodged an application with the FIRB. These provisions allow companies to increase stock in a company, subject to the approval of the Foreign Investment Review Board (FIRB). Source = ETB News: T.N. Qantas chief executive officer Alan Joyce is in Canberra today prosecuting the case for changes to the Qantas Sales Act which he believes will help level the playing field. The move is likely to anger Qantas, given its previous arguments about there being no level competitive environment.
Etihad and Pakistan International Airlines team upEtihad Airways and Pakistan International Airlines (PIA) have signed a codeshare agreement which will provide travelers with enhanced connections between the United Arab Emirates, Pakistan, and beyond.Etihad Airways will place its EY code on PIA flights between Islamabad, Karachi, Lahore, Peshawar and Abu Dhabi.PIA’s PK code will be placed on Etihad Airways’ flights between Abu Dhabi and Islamabad, Karachi, and Lahore and PK code will also be added to Etihad Airways’ flights from Abu Dhabi to many of the destinations on Etihad Airways’ global network.Flights can be booked from today via travel agents or through the airlines’ sales offices and contact centres. The first travel date will be 27 July 2015. Travelers will have a choice of more than 70 destinations.Kevin Knight, Etihad Airways’ Chief Strategy and Planning Officer, said: “Our unique partner strategy has been highly successful and we are pleased to add Pakistan International Airlines to our growing list of successful code share partners.“There is a long and proud history of travel between Abu Dhabi and cities across Pakistan, and this new codeshare agreement – between the national airlines of the UAE and Pakistan – will make that experience, as well as travel onwards to Africa, Europe, and the United States, that much easier.”Khurram Mushtaq, Director Marketing of Pakistan International Airlines, said: “This is indeed a great opportunity for PIA to join hands with Etihad Airways, connecting Pakistan to UAE and around the globe, expanding reach to more destinations for the convenience of valued passengers.”Etihad Airways and PIA are also exploring options for members of their respective frequent flyer programs, Etihad Guest and Awards+Plus, to earn and burn for miles when using codeshare flights.Guests on Etihad Airways flights from Abu Dhabi to the USA are processed through the US Preclearance facility at Abu Dhabi Airport, which means they pass through all US immigration and customs checks in Abu Dhabi and arrive in the USA as domestic passengers. Source = Etihad Airways
Majestic Princess arrives in Port of Keelung, TaipeiPrincess Cruises deploys three ships to Taiwan in 2018Princess Cruises is deploying three ships in Taiwan for the first time in 2018. Majestic Princess, Sun Princess and Diamond Princess will offer over 50 sailings, providing 140,000 domestic guests and 14,000 Fly-Cruise international tourists with unique itineraries to Japan and authentic onboard experiences. Majestic Princess, the newest ship in the Princess Cruises fleet, accounts for half of this season’s voyages.Majestic Princess has commenced her inaugural homeporting in Keelung, Taipei and will sail round-trip from Taiwan to Japan from April to July, visiting ports in Japan such as Okinawa, Ishigaki, Hiroshima, Osaka, Nagasaki, Kagoshima and Kochi on 3-to 7 night itineraries. The key highlights are the spring and summer flower festival cruises. The 143,000-ton Majestic Princess with a capacity of 3,560 guests is expected to attract over 8,000 visitors to the Port of Keelung in a single day.“The Fly-Cruise packages appeal to our guests from Southeast Asia as they do not have to fly too far to experience a Royal-class ship such as Majestic Princess, which has been proven popular with our Asian guests who enjoy the many new facilities tailored specially for Asians,” said Farriek Tawfik, Director Southeast Asia, Princess Cruises.Unique itineraries and exclusive onboard facilities for memorable experiencesMajestic Princess’ world-class facilities include the largest duty free shopping onboard any cruise ship, with nearly 1,100 square meters of luxury boutiques. Princess Cruises is also elevating the dining experience to a new level with its exclusive debut of “Dine with Michelin Star Chefs” onboard Majestic Princess from May 5 to 8. Diners will be able to enjoy gourmet cuisine designed by two Michelin Star awarded chefs for the speciality restaurants onboard Majestic Princess – Chef Richard Chen who designed the menu for the Chinese specialty restaurant Harmony; and Chef Emmanuel Renaut who created the menu for the French bistro La Mer.Sun Princess’ itineraries are also popular due to the short duration of three to four days. Sun Princess will complete her dry dock in July in Singapore and will sail to Keelung for her homeporting season for the summer from July to September. Guests for the Taiwan sailings will be the first to enjoy the enhanced facilities onboard Sun Princess including celebrity chef Curtis Stone’s SHARE restaurant.Diamond Princess will offer departures from Taiwan for cruises around Japan in a series of fall foliage itineraries to Japan’s major cities – Tokyo (Yokohama), Osaka, Nagoya and Okinawa. Guests will also be immersed in an atmosphere of Japanese culture onboard Diamond Princess with features including the largest Japanese bath at sea, origami classes and a Japanese restaurant for guests who wish to have a taste of Japan onboard.Source = Princess Cruises
Langkawi is planning on opening two outlying islands to visitors as a new eco-tourism destination.The Langkawi archipelago, located off the northwest coast of Peninsular Malaysia, comprises of 99 islands and authorities are planning to develop two of these islands – Pulau Tuba and Pulau Dayang Bunting – for eco and adventure tourism purposes.Palau Tuba, the larger of the two islands, is home to approximately 2,000 inhabitants, but it has largely been untouched by the tourism development taking place on Langkawi. Only limited motorised vehicles are allowed on the island to preserve its natural habitat, which the Langkawi Development Authority (LADA) believes makes it “the perfect site to cater to the adventurous eco-tourism market”.From April 2016, a 30km trail, which spans both Pulau Tuba and Pulau Dayang Bunting will be opened to the public. The trail passes limestone cliffs, mangrove forests and other areas previously only accessed by locals.To launch the new attraction, a ‘Tuba Trail Run’ will be held on April 2, with the aim of attracting 450 participants.“As one of the few UNESCO Geopark destinations in Southeast Asia, LADA is committed to protecting Langkawi’s natural heritage for future generations to enjoy,” said Khaild Ramli, CEO, LADA. “We aim to do this through education and controlled exposure to natural beauty, via exclusive events that target the eco-tourism and eco-sport market such as Tuba Trail Run.”
The village of Le Morne has become ground zero for a new effort in Mauritius to remember the island’s past and to honour the music that grew out of it.Source: CNN
in Data, Government, Origination, Secondary Market, Servicing, Technology Provident Expands Retail Mortgage Business February 2, 2012 426 Views In California, “”Provident Financial Holdings, Inc.””:www.myprovident.com/, has announced its entry into retail originations. The company recently announced that it has hired a retail mortgage banking group to open loan production locations under the “”Provident Bank Mortgage””:www.providentbankmortgage.com/ banner throughout the northern region of the state.[IMAGE]The retail mortgage group selected by Provident is currently operating in Roseville, San Rafael, and Fairfield, California, and the Provident’s new loan offices will be based in each city. In total, the branches will employ around 40 mortgage banking personnel, with 26 staffers handling retail production alongside 14 supporting employees.In a company statement, Provident noted that each member of its California-based retail mortgage team is extremely experienced and that the relationships each employee possesses should enable them to contribute immediately. Provident already has 14 full-service retail and business banking branches throughout the Inland Empire area of the state, in addition to 12 loan origination locations.Craig G. Blunden, chairman and CEO of Provident, said of the company’s expansion, “”Our mortgage banking division has been operating in Northern California for the past six years and produces approximately 30 percent of all loans we originate for sale. The addition of this new group will further diversify the geographic source of our origination volume and increase the retail percentage, which, historically, has been more profitable for the bank.””Continuing his commentary, Blunden added, “”The group is led by a seasoned team of mortgage banking professionals who were previously affiliated with a large mortgage originator who recently chose to exit the business.””Provident is headquartered in Riverside, California, and the company’s bank, “”Provident Savings Bank, F.S.B.””:www.myprovident.com/, is considered a federally chartered, full-service retail bank with assets of around $1.3 billion. Provident has served clients around the Inland Empire for more than 55 years. Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2012-02-02 Abby Gregory Share
Loans originated last year are the best-performing mortgage loans on record, according to the “”November Mortgage Monitor””:http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20140114.aspx released Tuesday by Black Knight Financial Services (formerly Lender Processing Services). [IMAGE]The Monitor also found a significant increase in non-agency loans, a sign that the market might be ready for more risk. “”[H]eightened credit standards have resulted in this year being the best-performing vintage on record,”” said Herb Blecher, SVP of Black Knight Financial Services’ data and analytics division. “”Even adjusting for some of these changes, such as credit scores and loan-to-values, we are seeing total delinquencies for 2013 loans at extremely low levels across every product category,”” Blecher said. Loan performance has improved among all cohorts of loans–private market loans, GSE loans, Ginnie Mae loans, and portfolio loans. However, stringent lending requirements may be biting into originations, which are now at their lowest levels since 2010, according to Black Knight. [COLUMN_BREAK]Home equity lending is the one sector that has been increasing of late. In fact, home equity lending is up 70 percent from last year, with second lien home equity loans more than double their year-ago levels, according to the November report. Blecher also pointed out that “”while overall volumes are down, we are seeing an increased proportion of the market being supported by non-agency (vs. government) lending–with the share nearly doubling as compared to 2010.”” Non-agency, first-lien, prime, jumbo loans have increased 75 percent over the year in November, according to Black Knight. “”Notably, nearly all of these jumbo loans have been originated with no mortgage insurance, which may indicate an increased appetite for risk, as well as an opportunity to expand credit criteria, for originations within the private market,”” Blecher said. Just 0.5 percent of non-agency jumbo loans were originated with private mortgage insurance in 2013, compared to 13.2 percent in the 2007 and 2008. Other notable trends Black Knight reported include a declining number of “”refinancible”” loans and a possible wave of delinquencies on the horizon among amortizing HELOCs. The number of “”refinancible”” loans has declined by about 4 million to 5.9 million from the end of 2012 through November 2013, according to Black Knight. Basic criteria for a refinance includes a credit score of 720, and a loan-to-value ratio of 80 percent or less. Lowering the credit requirement to a 700 could allow an additional 1 million loans to become refinancible, according to Black Knight. The national delinquency rate improved 2.63 percent over the month to a rate of 6.45 percent, according to the monthly report. Share in Data, Origination, Secondary Market Agents & Brokers Attorneys & Title Companies Black Knight Financial Services Delinquency Home Equity Investors Lender Processing Services Lenders & Servicers Mortgage Insurance Refinance Service Providers 2014-01-14 Krista Franks Brock Loans Originated Last Year Show Record Performance January 14, 2014 429 Views
Share The Wells Fargo Economics Group released a recent report outlining consumer confidence in the Sunshine State. The data from April suggests consumer sentiment slipped in Florida one point to 79 for the month, largely due to increased concerns about current economic conditions.The concern, both locally and nationally, outweighed a slight increase in confidence about future conditions for the economy as a whole.The Florida index largely reflected the nation’s attitude, with the overall index dropping slightly to 82.3. While consumer confidence declined, things could have been worse, according to the group. April’s end of the month index for Florida did improve from a mid-month reading, which had put the drop at two points.Despite the monthly decline, the overall rebound in consumer confidence from a “cyclical decline has corresponded with a rebound in home prices and the stock market,” the group found.”The recent moderation in consumer confidence may signal a lessening of these influences,” the group said.Home prices have eased slightly, coming in at a positive 12.3 percent year-over-year change. The Floridian unemployment rate climbed one tenth of a percentage point in March, resting at 6.3 percent.Florida’s unemployment rate reflects a national rate of 6.3 percent. However, the national rate is heading the other way, falling downward nearly half a percentage point as winter weather, sequestration, and a significant buildup of inventory have passed to allow for growth. in Daily Dose, Data, Headlines, News Consumer Confidence Dips in Sunshine State May 5, 2014 462 Views Consumer Confidence Jobs Unemployment Rate Wells Fargo 2014-05-05 Colin Robins
SunTrust Banks, Inc. reported a net income increase of 14 percent to $467 million available to common shareholders, according to the bank’s Q2 2015 earnings statement released Friday. The bank credits their continued execution of core strategies to their solid earnings growth and improved returns.The Q2 2015 net income for SunTrust was $0.89 per average common diluted share compared to $0.78 per share earned in the last quarter, and includes a $0.03 favorable impact by a per share from a discreet income tax benefit.According to the report, earnings per share increased $0.17 over the second quarter of 2014, which was negatively impacted by $0.09 per share. For the first half of 2015, earnings per share were $1.67.”Our performance this quarter demonstrates solid execution of our key strategies – deepening client relationships, optimizing the balance sheet, and improving efficiency,” said William H. Rogers, Jr., chairman and CEO of SunTrust. “This was evidenced by higher revenue, continued deposit growth, and improved returns. In addition, our asset quality performance continues to be strong. As we look forward, we are confident in our strategies and remain intensely focused on delivering further value to our clients and shareholders.”Total revenue was $2.1 billion for the current quarter, an increase of $85 million compared to the previous quarter. SunTrust noted that this increase is mostly due to higher net interest income and broad-based growth in fee income.SunTrust determined that mortgage production-related income for the current quarter was $76 million compared to $83 million for the prior quarter and $52 million for the second quarter of 2014. Mortgage production volume increased 27 percent compared to the prior quarter and applications declined 10 percent sequentially, entirely driven by lower refinance activity given the increase in interest rates in the second quarter.“The sequential quarter decrease was due to a decline in interest rate lock volume and gain-on-sale margins,” the report said. “The increase compared to the second quarter of 2014 was driven by higher mortgage production volume and a decline in the provision for repurchases, partially offset by a decline in gain-on-sale margins. Gain-on-sale margins in the current quarter were adversely impacted by higher mortgage interest rates and an increase in loan production from the correspondent channel.”The earnings report also found that mortgage servicing income was $30 million for the current quarter, compared to $43 million in the prior quarter.Comerica reported that their Q2 2015 earnings reached $135 million, or $0.73 cents per share in their earnings statement also released on Friday. Last quarter, the bank reported a net income of $134 million and $151 million for Q2 2014.”Our second quarter results reflect the advantages of our diverse geographic footprint and industry expertise,” said Ralph W. Babb, Jr., chairman and CEO for Comerica. “Average loans were up $2.1 billion, or 5 percent, compared to a year ago and were up $682 million, or 1 percent, relative to the first quarter, with increases in most markets and business lines. Relative to the first quarter, average deposits increased $408 million, or 1 percent, with noninterest-bearing deposits up $668 million.”Comerica’s revenue increased 2 percent compared to Q1 2015 and the bank returned $96 million to shareholders through equity buybacks and increased dividends.”Revenue was up 2 percent, with growth in both net interest income and fee income in the second quarter. Charge-offs, nonaccruals and criticized loans remained well below normal historical levels. The provision for credit losses increased, primarily as a result of an increase in reserves for energy exposure. Noninterest expenses decreased $23 million to $436 million, primarily due to a decrease in litigation-related expense. Our balance sheet is well positioned to benefit as rates rise. We remain focused on the long-term with a relationship banking strategy that continues to serve us well.” Comerica Q2 Net Income SunTrust 2015-07-17 Staff Writer SunTrust Reports Q2 2015 Net Income of $467 Million; Comerica Totals $135 Million July 17, 2015 483 Views in Daily Dose, Data, Featured, News Share
Chris ChristieThe only way to fix the country’s housing problem is for Republicans and Democrats to sit in a room together and talk about housing policy until they agree, according to one presidential hopeful at the Bipartisan Policy Center/J. Ronald Terwilliger New Hampshire Housing Summit on Friday.Republican New Jersey Governor Chris Christie was asked about other issues despite the fact that the event was a housing summit—but he never strayed too far from housing during a discussion on stage with Carl Cameron of Fox News and a Q and A session with the audience. Other presidential candidates such as Senator Lindsey Graham (R-South Carolina), former Arkansas Governor Mike Huckabee, and New York Governor George Pataki, were on hand to address the housing crisis.Cameron asked Christie what he would do in the first 100 days of his presidency to put the country on a bipartisan path to close the gap so that people who are trapped in renting and want to own a home can do so.Christie responded that the way to do it is to bring all the Republicans and Democrats from Congress and put them together and ask each side what it can live with and to stay together until they come up with a list of items that both sides agree on. And as president, he said, he would support the list that the sides agree on.“That’s the way you’re going to fix it,” Christie said. “Unfortunately what happens most of the time now is, this president just meets with Democrats, the previous president just meets with Republicans, of whoever’s in the majority, and there’s no outreach to everyone else. I’ve got to worry about keeping a Republican caucus in line and I’ve got to try to get a Democratic majority to come and help me with things. I’ve been doing this for six years. For everybody else, it’s like splitting the atom. For me, it’s what I do every day.””We don’t make that correlation because it’s one of those really ugly undersides of American society that we don’t want to talk about.” Chris ChristieThe housing crisis has been referred to as a “silent” crisis by former HUD Secretary Henry Cisneros and former Senator Scott Brown, both of whom spoke at Friday’s event, because no one wants to talk about it. But when it comes to issues like income inequality, low homeownership rates, and people losing their homes due to foreclosure, why is it not talked about more often in the news and elsewhere?“I think that the reason you don’t have a lot of discussion about it is because it’s not the sexiest issue in the world to talk about and it kind of depresses me,” Christie said. “Right? When you hear folks talk about the enormous challenge it creates to a family to either be homeless or be on the verge of homeless and the tension and pressure it creates, people don’t make the correlation to health even though they should and they don’t make the correlation to education even though they should. We don’t make that correlation because it’s one of those really ugly undersides of American society that we don’t want to talk about.”Despite the fact that no one seems to want to talk about the housing crisis, however, Christie stated, “Housing is one of those things that we have to talk about. That’s why I came up here today,” adding that he has seen the effect of the housing crisis in his state of New Jersey and the slow rate of recovery, and “We need to fix it.” in Daily Dose, Government, Headlines, News October 16, 2015 559 Views Parties Need to Come to an Agreement on How to Fix the Housing Crisis, Presidential Candidate Christie Says 2016 Presidential Race Bipartisan Policy Center Chris Christie Housing Policy 2015-10-16 Seth Welborn Share
September 4, 2018 843 Views Examining the Qualified Mortgage Rule Share The Qualified Mortgage Rule (QM), introduced in 2014, was designed by the Bureau of Consumer Financial Protection (BCFP) to prevent borrowers from obtaining loans they could not afford and to protect lenders from borrower litigation. 400,000 high debt-to-income (DTI) mortgages met the BCFP’s definition of a QM last year, thanks to an exemption that grants QM status to lenders making high DTI loans if those loans are guaranteed by Fannie Mae or Freddie Mac.However, this exemption, or “GSE Patch” is set to expire either January 10, 2021, or when the GSE’s exit conservetorship, whichever comes first. In a paper from the Urban Institute, Urban Research Associate Karan Kaul and Vice President, Housing Finance Policy Laurie Goodman Give three possible options for addressing the soon-to-be expired GSE Patch.The first option Urban Institute suggests is the obvious one: preserve the GSE Patch as it is. This can be done by simply extending the rules, or through modest expansion of the GSE Patch. The Urban Institute states that this option may only yield modest benefits, mostly for the high end of the market.The second option is to drop the DTI Cap and GSE Patch fromThe QSE definition, implementing a “safe harbor” standard. Restrictions on risky products, loan terms, and points and fees would not be touched. A lack of DTI cap or patch would “provide safe harbor status to first-lien mortgages as long as their annual percentage rate is no more than 150 basis points over the APOR.”According to Urban, this style of rule would offer several advantages: mortgage rates reflect credit risk more holistically than DTI ratios, it would create a more level playing field, facilitate innovation, and include ample precedent for a rate-spread test.The last option put forth by Kaul and Goodman in their paper is to simply take no action on the patch, letting the GSE Patch run its course through 2021, leaving a hard 43 percent DTI cap for Fannie and Freddie guaranteed mortgages behind. This option, however, would not be so simple due to the fact that the FHA, VA, and USDA would implement their own rules with no cap, forcing some high-DTI to move to the FHA.The paper concludes by stating that the upcoming expiration is a chance for improvement. Find the complete paper here. in Daily Dose, Government, News Fannie Mae Freddie Mac GSE Qualified Mortgage The Urban institute 2018-09-04 Seth Welborn
Millennial Homebuying Habits Affordability Baby Boomers Gen Xers Generation Home price Home Sellers Homebuyers homeowners Income Millennials NAR Rent 2019-04-01 Radhika Ojha Share Multi-generational homes are the preferred choice for Gen-Xers and older millennials, according to the National Association of Realtors’ (NAR’s) 2019 Home Buyer and Seller Generational Trends study. However, the reasons they prefer to buy these homes are different.The study found that while Gen Xers prefer to buy a multi-generational home because their adult children are moving in with them or never left home, older millennials who bought these homes were likely to do so to take care of their aging parents.”The high cost of rent and lack of affordable housing inventory is sending adult children back to their parents’ home either out of necessity or an attempt to save money,” said Lawrence Yun, Chief Economist at NAR. “While these multi-generational homes may not be what a majority of Americans expect out of homeownership, this method allows younger potential buyers the opportunity to gain their financial footing and transition into homeownership.”For the first time, the study also divided the millennial generation into older millennials and younger ones due to the disparity in their homebuying habits. While millennials as a whole continued to form the largest group of homebuyers of any generation at 37 percent of all buyers, younger millennials accounted for 11 percent of all buyers while older ones represented 26 percent of all homebuyers.It indicated that younger millennials accounted for a larger buying share than the silent generation which stood at 7 percent of all buyers. Among millennial homebuyers, the study indicated that older millennials “have a median household income of $101,200 and purchase homes with a median price of $274,000, comparable to Gen Xers ($111,100 income, $277,800 median home price) and younger boomers ($102,300, $251,100 respectively).”According to Yun, “Older millennials are now entering the prime earning stages of their careers, and the size and costs of homes they purchase reflect this. Their choices are falling more in line with their Gen X and boomer counterparts.”On the other hand, younger millennials whose median income stood at around $71,000 were purchasing the least expensive and smallest homes due to the challenges of affordability.When it came to downsizing, the study revealed that this wasn’t common among any of the generations at present. It indicated that sellers over the age of 54 only downsized by a median of 100 to 200 square feet as Gen Xers and boomers who might be interested in downsizing facing the challenges of smaller inventory. These sellers could also “have been impeded by the increase in multi-generational living these generations are reporting to accommodate the needs of adult children and aging parents.” April 1, 2019 2,037 Views in Daily Dose, Data, Featured, News
Comments Share What an MLB source said about the D-backs’ trade haul for Greinke D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ The headline is not funny and nobody’s laughing, but it’sworth noting that through five games last season theArizona Cardinals were 3-2 with wins over the Rams,Raiders and Saints, and this was with Derek Anderson andMax Hall leading the way.At 1-4 this year, their struggles have caused many towonder what exactly the problem is. Naturally, peoplefocus on the QB, in this case Kevin Kolb. According to ESPN.com’s Mike Sando, the network’sQuarterback Rating System ranked Kolb’s performanceagainst the Vikings as the second-worst in the NFL, aheadof only Denver’s Kyle Orton. Top Stories For the season, the Cardinals’ new signal caller hascompleted 58.7 percent of his passes, throwing fivetouchdowns and six interceptions. He’s lost five fumbles. Even though Kolb’s passing numbers outshine those hispredecessors posted in 2010, his overall QBR is onlyslightly better. The team has actually gone backward atthe position in terms of the costliness of interceptionsand fumbles. Nevada officials reach out to D-backs on potential relocation Now, most Cardinals fans will tell you they’d rather haveKolb under center than anyone the team used last season,and if anyone is pining for last year’s passers a medicalexam may be in order.However, while Kolb certainly looks less-awful than hispredecessors, the fact of the matter is his marginallybetter statistics are not leading to more wins for theteam, and his numbers have decreased each week since theopener. There is still time for the QB to turn things around and,unlike with both Anderson and Hall, it’s not a stretch toassume he will. Cardinals expect improving Murphy to contribute right away
Nevada officials reach out to D-backs on potential relocation The 2012 Arizona Cardinals certainly could be defined by their running game more than ever before, as long as their talented backs can stay healthy. In fact, the feeling early in camp is the team’s offense will rely heavily on the production from Beanie Wells, Ryan Williams and the extremely versatile LaRod Stephens-Howling.“We know we need to establish our running game to make everything else better and easier and then the runners and passers are going to complement each other,” Stephens-Howling told Arizona Sports 620’s Doug and Wolf Show Monday. “We know that’s a big thing that we struggled on is the running game, so why not do it right now [in camp] and focus on it right now before the season?” Comments Share Top Stories Cardinals expect improving Murphy to contribute right away D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ What an MLB source said about the D-backs’ trade haul for Greinke Entering his fourth season with the Cardinals, “The Hyphen” has assumed more of a veteran role in offensive coordinator Mike Miller’s offense. He has shown great value to the Cardinals as a change-of-pace player, who not only can pose as a threat as a receiver out of the backfield, but can also be explosive as the team’s kick returner.“I see more opportunity,” Stephens-Howling said of his role with the Cardinals this season. “Mike Miller is always coming to me and saying we need to do more things, and I just need to study and get the receiving routes and everything down better, and I’ll get more opportunities to be on the field.”The former University of Pittsburgh product yearns for just that — more time of the football field, and while he’s willing to take on any role that will produce more playing time, he does prefer to participate in the running game.