Comments Share Mesa family survives lightning strike to home There was some good news in the report: The trustees said Social Security’s retirement fund has enough money to pay full benefits until 2035, a year later than they predicted last year. At that point, Social Security will collect enough in payroll taxes to pay about 75 percent of benefits.Medicare’s giant hospital trust fund is projected to be exhausted in 2030, the same date as last year’s report. At that point, Medicare taxes would be enough to pay 86 percent of benefits.Advocates for seniors say that gives policymakers plenty of time to address both programs without cutting benefits. But some in Congress note that the longer lawmakers wait, the harder it gets to address the shortfall without making significant changes.There is an easy fix available for the disability program: Congress could shift tax revenue from Social Security’s much larger retirement fund, as it has done in the past.President Barack Obama supports the move. And acting Social Security Commissioner Carolyn Colvin said shifting the tax revenue “would have no adverse effect on the solvency of the overall Social Security program.”But Republicans say they want changes in the disability program to reduce fraud and to encourage disabled workers to re-enter the work force. About 55 million retirees and disabled people get Medicare. The hospital trust fund is only part of the program. Coverage for outpatient care and prescription drugs is covered by premiums and other government spending.___Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatapCopyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Check your body, save your life New Valley school lets students pick career-path academies Get a lawn your neighbor will be jealous of Top Stories FILE – This Feb. 2, 2015, file photo, depicts a part of a U.S. $100 bill. The federal government’s two largest benefit programs face short- and long-term financial problems as they close in on milestone anniversaries. The magnitude of those problems will become clearer when the trustees for Social Security and Medicare issue their annual report cards. (AP Photo/Jon Elswick, File) Ex-FBI agent details raid on Phoenix body donation facility Here’s how to repair and patch damaged drywall How Arizona is preparing the leader of the next generation WASHINGTON (AP) — The 11 million Americans who receive Social Security disability face steep benefit cuts next year, the government said Wednesday, handing lawmakers a fiscal and political crisis in the middle of a presidential campaign.The trustees who oversee Social Security and Medicare said the disability trust fund will run out of money in late 2016. That would trigger an automatic 19 percent cut in benefits, unless Congress acts. Sponsored Stories “Washington has continually kicked the can down the road, and now, as 11 million Americans face cuts to Social Security disability benefits they rely on, it is time for Congress to take action,” said Sen. Rob Portman, R-Ohio.In January, Sen. Rand Paul, R-Ky., suggested that a lot of slackers are on disability. Paul, who is running for president, joked that half the people getting benefits are either anxious or their back hurts.The date that the disability fund will run dry is unchanged from last year’s report. But as the deadline gets closer, advocates say the need to act becomes more urgent.“The president has proposed a commonsense solution to improve the solvency of this fund in the short run so that Americans who rely on it will continue to receive the benefits they need,” Treasury Secretary Jacob Lew said. “It is vital that Congress move forward to maintain the integrity of this critical program sooner rather than later.”If the retirement and disability funds were combined, they would have enough money to pay full benefits until 2034, the trustees said.Lew noted that the life of the Medicare trust fund has been extended by 13 years since Congress passed Obama’s health law. The fund is also benefiting from a slowdown in the rise of health care costs. The Medicare premium increases would affect Part B, which provides coverage for outpatient services. For about 70 percent of beneficiaries, premium increases cannot exceed the dollar amount of their Social Security cost-of-living adjustment, or COLA. Because no COLA is currently expected for next year, increased costs of outpatient coverage would have to be spread among the remaining 30 percent.That would result in an increase of about $54 in the base premium, bringing it to $159.30 a month. Those who
<a href=”http://www.etbtravelnews.global/click/1b1b2/” target=”_blank”><img src=”http://adsvr.travelads.biz/www/delivery/avw.php?zoneid=132&cb=INSERT_RANDOM_NUMBER_HERE&n=ada84479″ border=”0″ alt=””></a> 15 years and 100 million passengers later, Eurostar, the high-speed rail service linking the UK and the Continent, are celebrating its achievements this month but expecting even more milestones to be reached in 2010.The company is expecting a further 10 million people to travel on its services next year, which studies show has brought the UK and Europe closer together.Eurostar currently accounts for 80 per cent of all passengers travelling directly between London and Paris, while London’s airports take the remaining 20 per cent.Some 97 per cent of people polled in a recent survey said Eurostar services have strengthened links between Britain to France and Belgium, and nine out of 10 said their lives have been improved by the social and cultural exchange enabled by the company. The Walshe Group is the GSA for Eurostar in Australia and New Zealand, headed up by Jason Tarabo, Account Manager. “Aussies have always loved to visit the great European cities such as Paris and Brussels. With up to 17 trains per day between London and Paris and 10 to Brussels, coupled with the convenience of a city-to-city service and a journey time of only two hours and fifteen minutes, Aussies are rally benefitting from just how easy it is to take the train over flying,” he said. Source = e-Travel Blackboard: D.M
Insight Vacations’ Maureen Van Metter, Lorraine Sharp & Jennifer McDermott Source = e-Travel Blackboard: D.M Insight Vacations has unveiled its latest USA & Canada brochure, which after customer feedback, incorporates four new tours producing what Managing Director, Lorraine Sharp says “is the most comprehensive program to the region to date”.The 17 escorted tours incorporate programmes in the east and west coast of the United States, Canada and Mexico, also bringing back Alaska into the fold. “We have achieved a lot of success with the USA and Canada product, which is in line with statistics showing USA to be the most popular long haul international destination for Australian travellers,” Ms Sharp said.The USA and Canada region represents 10 per cent of Insight’s overall business, according to Ms Sharp, who added “that’s good for a relatively new product”.Ms Sharp said the USA and Canada have always ranked highly in customer service questionnaires, with 89 per cent of Insight European travellers stating the region would be their next choice of places to holiday.Insight has recorded strong advance bookings, with repeat customers increasing year on year up to 45 per cent.“Each of these introduced itineraries offers the stylish and hassle-free holiday experience that Insight’s USA and Canada program is renowned for,” Ms Sharp said.“America’s east and southwest coasts, eastern Canada and Alaska have all seen the biggest peaks in interest, and as such we have introduced new tours to each of these regions this year including the eight-day Cities of the East Coast, the 11-day South West Discovery, the eight-day Maritimes Landscapes and the seven or 14-day Jewels of Alaska.”Insight’s Highlight Dinners, which serves up traditional dining experiences as well as its Dine-Around options in speciality restaurants, are also included in the new tours.For more information, visit www.insightvacations.com.au
Fans from this year’s FIFA World Cup in South Africa Highlighting just how profitable sports tourism can be, Sportsnet Holidays was awarded the coveted ‘Fastest growing private business of the year 2010′ at the recent BRW ANZ Private Business Awards.As the countdown for the Rugby Work Cup in New Zealand begins and London works feverishly to prepare for the 2012 Olympic Games, the fact that the winner of a business award is a sports travel company is testament to the important role sports travel plays in the tourism industry, Sportsnet founder Rob Cecconi told BRW.In the last financial year, Sportnet managed to double its revenue, despite the global financial crisis, recording 90 per cent growth.With sports events an ongoing certainty, Mr Cecconi sees few obstacles to the company’s continued growth and expects Sportsnet to again double its revenue to $30 million.“People love their sport and people love their travel and we provide them both,” Mr Cecconi told the magazine.“People travel today for the experiences not just the sights. And being at the big sports events is all about the experience.“So when you can fulfil that passion for people, you have a sustainable business.” On winning the award, Sportsnet chief executive Adam Jacoby said, “It is thrilling to see our innovative strategic work vindicated in such illustrious company.”By pursuing an active promotion campaign and by directly packaging tours to corporations, Sportsnet has “gone from strength to strength”, the magazine reported. Source = e-Travel Blackboard: G. A
Source = e-Travel Blackboard: S.P The ongoing industrial action threatening the long term operation of Qantas is significantly hurting local tourism operators across Australia, warns ATEC managing Director Felicia Mariani.Ms Mariani said the industry is suffering “constant shock syndrome” having dealt with a string of natural disasters, the high Australian dollar and the global economic crisis that is affecting inbound business. “The entire tourism industry hangs off the effective delivery of aviation services which bring international visitors to our shores, any disruption to services has a significant direct impact on the bottom line of local tourism businesses,” Ms Mariani said. “If the industry misses out on yet another peak holiday season and the opportunity to make hay when the sun shines the outcome for many will be devastating.”Ms Mariani stated that without a speedy resolution to the current situation the country’s tourism industry will struggle to get back on its feet.She added that the tourism industry has already lost around 16,000 full time employees over the last three months, mainly in regional Australia.“Australia is already struggling to maintain its market share, the industry is working hard to engage new markets and build a stronger tourism product to ensure its future and that of the half a million people it directly employs.”Ms Mariani said that ATEC urges both parties to agree the resolutions and compromises to end the disruption before it interrupts the important holiday season.
The e-Travel Blackboard office will close its doors during the busy holiday break this silly season. Trading will cease from 24 December 2012 and recommence from 2 January 2013. e-Travel Blackboard will close for the holidays. Although we won’t be publishing any editions during the break, rest assured this week’s edition of e-Travel Blackboard is packed with plenty of important news and industry updates. We ask all sponsors and clients to finalise all advertising requirements and processes as soon as possible. The team at e-Travel Blackboard hope you have a wonderful Christmas and a fantastic start to the New Year. Source = e-Travel Blackboard: P.T
An new partnership between Malaysia Airlines and European train operator TGV will enable travelers smooth transition to 19 different cities in France.The partnership has been named TGVAIR, and it allows passengers to book a flight and train ticket in one, letting them travel to and from all major French provinces via Charles de Gaulle (CDG) Airport.Customers can check-in from the beginning of their journey to their final destination, the project is mainly aimed at Australian travelers or returning French nationals.Malaysia Airlines, regional senior vice president, Mr PK Lee has said the airline was proud to be partnering with TGV to deliver improved flexibility, efficiency and value to customers.“TGVAIR keeps your trip simple and streamlined with one single ticket, offers a cheaper combined service and provides users with guaranteed support should either a train or flight be delayed,” Mr Lee said .The TGVAIR offering is available to Malaysia Airlines passengers, with travel to and from stations based across all major French provinces including Aix-en-Provence TGV, Angers- St-Laud, Avignon TGV, Bordeaux St Jean, Champagne-Ardenne TGV, Le Mans, Lille, Lorraine TGV, Lyon, Marseille, Montpellier, Nantes, Nîmes, Poitiers, Rennes, St-Pierre- des-Corps, Strasbourg, Toulon and Valence TGV.The airline now operates 81 flights a week direct to Malaysia from Australia and New Zealand with Kuala Lumpur the hub to more than 60 destinations worldwide, including France.Source = ETB News: Lewis Wiseman
Lufthansa Group Airlines welcome more than 13 million passengersLufthansa Group Airlines welcome more than 13 million passengers on board in May 2019In May 2019, the Lufthansa Group airlines welcomed around 13.2 million passengers. This shows an increase of 2.8 percent compared to the previous year’s month. The available seat kilometres were up 3.5 percent over the previous year, at the same time, sales increased by 5.7 percent. In addition as compared to May 2018, the seat load factor increased by 1.7 percentage points to 81.1 percent.Cargo capacity increased by 7.3 percent year-on-year, while cargo sales increased by 2.5 percent in revenue tonne-kilometre terms. As a result, the Cargo load factor showed a corresponding reduction, decreasing by 2.9 percentage points to 61.3 percent.Network Airlines with around 9.7 million passengersThe Network Airlines including Lufthansa German Airlines, SWISS and Austrian Airlines carried around 9.7 million passengers in May – 5 percent more than in the prior-year period. Compared to the previous year, the available seat kilometres increased by 5.1 percent in May. The sales volume was up by 8 percent over the same period, with an increasing seat load factor by 2.2 percentage points to 81.4 percent.Strongest passenger growth and offer increase in MunichIn May, the strongest passenger growth of the network airlines was recorded at Lufthansa’s hub in Munich with 7.1 percent. The number of passengers increased by 4.4 percent in Vienna, by 3.6 percent in Zurich and by 2.1 percent in Frankfurt. The underlying offer also increased mostly in Munich by 9.1 percent. In Zurich it increased by 7.3 percent, in Vienna by 4.2 percent and in Frankfurt by 2.1 percent.Lufthansa German Airlines transported around 6.5 million passengers in May, a 5.1 percent increase compared to the same month last year. A 4.5 percent increase in seat kilometres corresponds to a 7.8 percent increase in sales. The seat load factor rose by 2.5 percentage points year-on-year to 81.7 per cent.Eurowings with around 3.5 million passengersEurowings (including Brussels Airlines) carried around 3.5 million passengers in May. Among this total, around 3.3 million passengers were on short-haul flights and 250,000 flew on long-haul flights. This corresponds to a decrease of 3.1 percent on short-haul routes and an increase of 3.2 percent on long-haul routes compared with the previous year. A 3.2 per cent decline in supply in May was offset by a 3.9 per cent decline in sales, resulting in a seat load factor of 79.6 per cent, which is 0.6 percentage points lower.In May, the number of seat-kilometres offered on short-haul routes decreased by 2.8 per cent, while the number of seat-kilometres sold declined by 5.7 per cent over the same period. As a result, the seat load factor on these flights was 2.4 percentage points lower than the 80.3 percent recorded in May 2018. On long-haul flights, the seat load factor rose by 3.3 percentage points to 77.9 per cent over the same period. The 3.9 per cent decrease in capacity was offset by a 0.3 per cent increase in sales.Source = Lufthansa Group Airlines
Jet Airways (India) Ltd has launched daily non-stop flights from Delhi and Mumbai to Schiphol Amsterdam Airport, increasing connectivity between India, Europe and North America. In addition, Jet Airways would also operate a daily flight to Toronto from Amsterdam. Schedules of all three flights have been planned to allow quick, convenient and seamless connections between India and Toronto via Amsterdam, the airline said. With this Jet Airways is set to make Netherlands its new European gateway.In the wake of Jet’s connectivity to Amsterdam, Netherlands Board of Tourism & Conventions (NBTC) Holland Marketing has renewed their destination marketing activities in the Indian market with new vigour.Jos Vranken, MD, NBTC Holland Marketing explained they would embark on a joint destination marketing campaign in the market with Jet Airways and Schiphol Amsterdam Airport. Simultaneously, NBTC would start travel trade marketing and press and PR activities. “We also have plans to organise trade and media familiarisation trips,” he said.Vranken informed that the communication strategy would be to position ‘Holland as a City’ in the Indian market and the focus would be to target family market, luxury travellers and wedding and honeymoon segments from India.
Barbados Tourism Marketing Inc. (BTMI) revealed its provisional figures stating that arrivals increased by 7.4% during the first quarter of 2016 compared to the previous year. This represented some 184,177 visitors compared to 171,413 during the same period last year.CEO, William Griffith, said, “Our team has been placing considerable emphasis on business-to-business (B2B) relationships through training for travel agents and participation in trade shows to update these key partners on the latest product developments taking place on the island.”Barbados’ tourism growth has also augured well for the country’s visitor expenditure performance with the sector recording an estimated US $336,757,000 during the first quarter of 2016. In relation to average length of stay, this metric grew in all markets to achieve a total improvement in length of stay of 15%.Griffith confirmed that confidence had returned within the tourism industry and this was being revealed by the creation of new attractions; improved hotel plant and additional accommodation options; and the strengthening of the island’s digital marketing strategy, led by a new destination website at VisitBarbados.org.“Based on the reports coming from our tour operators, this is the light at the end of the tunnel. We will continue to work with them and incorporate their feedback, and the suggestions from the visitors themselves, so that we can maintain this growth path,” he added.
Taipei is the capital of Taiwan and it is famous for its modern metropolis with Japanese colonial lanes, busy shopping streets and contemporary buildings.Source: Expedia
The management of India Tourism Development Corporation (ITDC) recently invited the state tourism departments from pan India for a roundtable to discuss the possible areas of synergies for collaboration between ITDC and state tourism authorities to enhance tourist convenience and overall experience.The session was presided over by Ravneet Kaur, IAS, Chairperson and Managing Director, ITDC in the presence of Piyush Tiwari, Director-Commercial and Marketing, ITDC and other respective heads of the divisions. Shivdular Singh Dhillon, IAS, CEO, Punjab Heritage Tourism Promotion Board and Suman Thapa, SCS, CEO, Sikkim Tourism Development Board were among the senior delegates who attended the meeting. Other state tourism corporations that were present at the event were Assam, Chhattisgarh, Gujarat, Himachal Pradesh, Rajasthan, Maharashtra, Tamil Nadu, Haryana, Kerala, Madhya Pradesh and Tripura.The strategic business units of ITDC presented the wide spectrum of services through which state tourisms can collaborate with ITDC.
in Data, Origination NAR Predicts Flat Home Sales, Rising Prices in 2014 Speaking at the 2013 Realtors Conference & Expo Friday, “”National Association of Realtors””:http://www.realtor.org/ (NAR) chief economist “”Lawrence Yun””:http://www.realtor.org/news-releases/2013/11/home-sales-to-hold-steady-in-2014-but-prices-will-continue-to-rise predicted steadiness in existing-home sales over the next year as prices continue to ascend.[IMAGE]Looking over the past year, Yun said he expects existing-home sales to be up about 10 percent in 2013 to 5.13 million. Sales in 2014 are expected to hold fairly even at about 5.12 million.Reviewing price movements, he said the national median existing-home price should end this year about 11 percent higher than 2012, climbing to $197,000. Next year’s growth is expected to be cut nearly in half at about 6 percent.[COLUMN_BREAK]Over the past two years, Yun says existing-home sales have shown a 20 percent cumulative increase, while prices have gained 18 percent. Meanwhile, incomes have only barely risen, coming up somewhere between 2-4 percent.””We’ve come off of record high housing affordability conditions in the past year, and are now at a five-year low, but conditions are still the fifth best in the past 40 years,”” Yun said, noting that the median-income family should still be “”well-positioned”” to buy a home in 2014 in many areas.Aside from affordability, ongoing headwinds include limited inventory conditions and stringent mortgage standards, both of which are expected to continue as housing starts struggle and business costs remain elevated for lenders.On housing production, Yun forecasts 917,000 starts through the end of 2013 and 1.13 million in 2014, which still falls short of the underlying demand of about 1.5 million.Sales of new homes are expected to total 429,000 in 2013 and 508,000 next year.Based on his forecasts, Yun says the top 10 markets to watch for a housing turn around in 2014 are Salt Lake City, Utah; Naples and Tampa, Florida; Atlanta, Georgia; Boise, Idaho; Houston, Texas; Charlotte, North Carolina; Denver, Colorado; Seattle, Washington; and Tucson, Arizona. Share Agents & Brokers Attorneys & Title Companies Existing-Home Sales Home Prices Home Sales Housing Affordability Housing Starts Investors Lenders & Servicers Mortgage Rates National Association of Realtors Service Providers 2013-11-11 Tory Barringer November 11, 2013 420 Views
Agents & Brokers Attorneys & Title Companies Conference Board Confidence Consumer spending Investors Jobs Lenders & Servicers Service Providers 2013-11-26 Tory Barringer After taking a sharp dive in October, consumer confidence continued to decline at a more moderate pace in November, indicating the level of uncertainty that still grips the country.[IMAGE]””The Conference Board’s””:http://www.conference-board.org/ Consumer Confidence Index dropped two points to 70.4 in the most recent reading, the company reported. The decline follows a more substantial decrease in October stemming from the partial federal government shutdown.Both index subcomponents took a hit as consumers presented mixed responses on the economy. The Present Situation Index, a measure of Americans’ perceptions of current economic conditions, edged down to 72.0 from October’s 72.6. Meanwhile, the Expectations Index, a measure gauging projections six months from now, decreased more significantly to 69.3 from 72.2.””Sentiment regarding current conditions was mixed, with consumers saying the job market had strengthened, while economic conditions had slowed,”” explained Lynn Franco, director of economic indicators at the Conference Board. “”However, these sentiments did not carry over into the short-term outlook. When looking ahead six months, consumers expressed greater concern about future job and earning prospects, but remain neutral about economic conditions.””According to the Conference Board’s survey, the share of consumers claiming current business conditions are “”good”” increased slightly to 19.9 percent from October’s 19.5 percent, while those claiming conditions are “”bad”” increased to 25.2 percent from 23.0 percent.Appraisals of the job market were little changed from October. Those saying jobs are “”plentiful”” ticked up to 11.8 percent from 11.6 percent, and those saying jobs are “”hard to get”” decreased to 34.0 percent from 34.9 percent.For the next six months, those expecting business conditions to improve increased slightly to 16.6 percent, while those expecting conditions to worsen decreased to 16.8 percent.The consumer outlook for the labor market was more pessimistic. The number of consumers anticipating more jobs in the coming months fell more than 3 percentage points to 12.7 percent, while those anticipating fewer jobs decreased slightly to 21.7 percent. At the same time, fewer consumers expect their incomes to increase (14.9 percent), while more anticipate a decline in income (15.9 percent). November 26, 2013 435 Views in Data Consumer Confidence Still Shaky in Month After Shutdown Share
Even as the aftermath of the housing crisis continues to show in the market, a new survey shows the vast majority of Americans still regard homeownership as a “highly desirable goal.”In findings released Tuesday, COUNTRY Financial revealed 89 percent of Americans in its most recent Security Index survey feel that buying a home is a key part of achieving the American Dream despite their recent memories of the crash.Even more promising, 64 percent of respondents expressed belief that owning a home is an attainable goal for a typical middle-income family, a significant improvement over last year, when just 41 percent said the same.”We’re very encouraged that so many Americans feel optimistic about home ownership and view it as a realistic and achievable goal,” said Joe Buhrmann, manager of financial security support at COUNTRY Financial. “An improving economy and labor market might be helping to lift Americans’ spirits and place buying a home closer within reach.”While the survey showed homeownership is an important goal for most correspondents regardless of age or income, it did reveal a generational split on opinions regarding whether or not that goal is achievable. Respondents among the ages of 30–39 and ages 50–64 were most likely to be negative in that regard, with 26 percent and 20 percent (respectively) saying owning a home is not an attainable goal for a middle-income family.There was also an age division when it came to respondents’ desire to own a home. Among non-homeowners, a quarter of those under age 30 and a fifth of those ages 50–64 said they have no interest in owning a home.While some analysts have observed a culture shift away from homeownership among millennials, all age ranges have their own reasons to be reluctant, Buhrmann says.”While nearly everyone pictures a home as the American Dream, reality often looks different,” he said. “Younger Americans are more likely to reject the idea of homeownership. Yet, the financial challenges of buying a home can affect those of any age.”In fact, for those who don’t own a home at the moment, the survey found financial limitations were some of the biggest hurdles: 14 percent cited a low credit score as their primary obstacle, while lack of down payment (13 percent) and local home prices (12 percent) were also commonly cited.In its own housing survey released Monday, Wells Fargo found similar concerns about homebuying, with 30 percent of respondents saying only people with high incomes can get a mortgage right now and 64 percent saying only those with a very good credit score can qualify.”It is important for prospective homebuyers to feel empowered to ask lenders and real estate agents questions about available options, such as down payment assistance or FHA [Federal Housing Administration] or VA [Veterans Affairs] loans for veterans,” said Franklin Codel, head of Wells Fargo Home Mortgage Production. “Informing prospective homebuyers about their options is the first step toward helping them realize their goals.” September 16, 2014 581 Views COUNTRY Financial Down Payments Homeownership 2014-09-16 Tory Barringer Share in Daily Dose, Data, Headlines, News Survey: Homeownership ‘Highly Desirable’ for Nine in 10 Americans
September 2, 2015 477 Views Share Residential AD&C Loan Volume Tight But Expanding Loan Volume National Association of Home Builders Residential AD&C Loans 2015-09-02 Staff Writer Outstanding residential acquisition, development, and construction (AD&C) loan volume expanded 4.7 percent in the second quarter of 2015.The National Association of Home Builders (NAHB) found that AD&C loans grew for the ninth consecutive quarter, but availability of these loans remains tight, hindering home construction.The outstanding stock of 1-4 unit residential construction loans made by institutions insured by the Federal Deposit Insurance Corp., totaled $56.1 billion in the second quarter, an increase of $2.498 billion. This stock rose 4.7 percent from the first quarter, according to data from the FDIC and NAHB analysis.”It is worth noting the FDIC data represent only the stock of loans, not changes in the underlying flows, so it is an imperfect data source,” said Robert Dietz, VP for Tax and Market Analysis for NAHB. “Nonetheless, the consistent growth in the outstanding stock of AD&C loans is a positive development.”Since the first quarter of 2013, the report found that the stock of outstanding home building AD&C loans has grown by 37.6 percent.On a year-over-year basis, the stock of residential AD&C loans is up 16.4 percent from the second quarter of 2014.Other NAHB data suggests that lending conditions are improving, but recent Federal Reserve data shows some tightening toward the commercial lending sector. However, lending is still tighter than earlier years, with the current stock of existing residential AD&C loans 72.5 percent lower than the peak level of AD&C lending of $203.8 billion reached during the first quarter of 2008.”Despite the steady increases in residential AD&C lending, there exists a lending gap between home building demand and available credit,” Dietz said. “This lending gap is being made up with other sources of capital, including equity, investments from non-FDIC insured institutions and lending from other private sources, which may in some cases offer less favorable terms for home builders than traditional AD&C loans.” in Daily Dose, Data, Featured, Government, News, Origination
Black Knight Home Prices Mortgage Delinquencies 2018-05-07 David Wharton Share in Daily Dose, Featured, journal, Market Studies, News, Origination, Servicing May 7, 2018 560 Views Home Prices Started the Year Out Right When it came to home prices, both January and February demonstrated their strongest single-month growth rates since 2005, according to the latest Mortgage Monitor Report from Black Knight, Inc., released Monday. Nationally, home prices rose 1.24 percent in the first couple of months of 2018, with Western states, in particular, showcasing high rates of appreciation. However, Black Knight notes that approximately 40 percent of markets are demonstrating noticeable deceleration in home price appreciation.Black Knight reports that “98 of the largest markets and 97 percent of 916 observed Core Based Statistical Areas (CBSAs) have all had annual increases” in home prices during the first two months of the year. “At the national level, home prices rose 1.24 percent since the start of 2018, with both January and February having their strongest respective single-month growth rates in 13 years,” said Black Knight Data & Analytics Executive Vice President Ben Graboske. “As of the end of February, home prices had risen 6.65 percent from a year ago, a metric that continues to increase. The rate of appreciation has accelerated by 42 basis points over the past six months and by 72 basis points over the past 12 months. This acceleration, combined with a nearly 40 basis point increase in the prevailing 30-year fixed interest rate during that same time frame, is creating a tighter affordability climate. We have now seen monthly increases in the national median home price for 27 of the past 28 months, and annual gains for 70 consecutive months.”San Jose, California, and Las Vegas, Nevada, lead the pack when it comes to home price appreciation. Black Knight reports that San Jose’s median home price for the observed months hit $1.17 million, up $226,000 from the median price recorded a year ago.“To put that in perspective,” Graboske said, “more than half of the nation’s 100 largest markets have median home prices below this $226,000 annual growth in San Jose’s median home price.” While San Jose topped the charts, other Western markets also experienced significant increases in home prices. All 11 markets that posted annual home price appreciation of 10 percent or more were located in the West. Shifts in loan performance during the month of March were largely positive. Black Knight calculated a 13.2 percent drop in mortgage loan delinquencies, and every state experienced a double-digit decline in its delinquency rate over the month of March. However, this sizable decline is not all that surprising compared to historical data. “March is typically the calendar-year low for delinquencies as borrowers utilize tax refunds and/or bonus payouts to get back on track financially,” according to Black Knight. The report points out that the average March decline in the national delinquency rate since the turn of the century is just under 11 percent. The national delinquency rate as of March is 3.73 percent. The highest delinquency rates were recorded in Mississippi, Louisiana, Florida, Alabama, and West Virginia. The lowest delinquency rates were recorded in North Dakota, Minnesota, Washington, Oregon, and Colorado. While delinquencies were down in March, foreclosure starts were up 12 percent over the month with 70 percent of the increase concentrated in areas impacted by hurricanes. Active foreclosures were down in hurricane-impacted markets, with a 7 percent decline in Texas and a 23 percent decline in Florida over the year in March. However, it may be too early to celebrate. The market impact of the hurricanes has been “relatively muted as a result of ongoing forbearance programs,” according to Black Knight, and “it will be a number of months before the true foreclosure impact from these storms is revealed.” Black Knight’s Mortgage Monitor also detected a major decline in the number of homeowners for whom a refinance might be beneficial. The number of potential refinance borrowers is down 46 percent since the start of this year, falling by 2 million borrowers.Among borrowers with mortgage loans originated within the past five years—a pool of 28 million homeowners—only 45,000 “have 75 basis points of interest rate incentive to refinance while also meeting broad-based eligibility requirements,” according to Black Knight.You can read the full Black Knight report by clicking here.
Rivos Mortgage Welcomes Jeffrey Axelrod Riivos, Inc., a creator of cloud-based, continuous value chain management technology based in San Francisco, announced the appointment of Jeffrey Axelrod as Group Executive of Riivos Mortgage.Jeffrey Axelrod comes to Riivos with over 25 years’ experience in fintech and enterprise software. Prior to Riivos, Axelrod served as CEO and founder of Cogency, a provider of partnership and portfolio accounting software used by many of the largest endowments, pension funds, private equity funds and fund of hedge funds, to manage over $100B in assets. Under his leadership, Cogency helped clients manage and grow through complex market conditions by combining technology and deep industry expertise in areas such as fee and liquidity management, strategic scenario planning, and multi-asset class portfolio management.Axelrod led Cogency to a successful acquisition by Backstop Solutions Group, where he drove the integration of Cogency and took on responsibility for all aspects of the Backstop Solutions SaaS platform and product suite.”This is a challenging market cycle in the mortgage industry and, at the same time, full of opportunities. I’ve had many years of experience helping clients navigate dynamic market conditions. I am delighted to join Riivos Mortgage and lead the charge in helping mortgage lenders execute on their financial goals to increased profitability, liquidity and longevity,” Axelrod said. “The Riivos Mortgage scenario capabilities that let our customers see the real-time financial ripple effects is critical when managing in today’s environment.””The combination of Jeffrey’s customer leadership and applied technology expertise will be invaluable to our customers and our team,” said Michele McGovern, CEO of Riivos, Inc. “He brings a shared drive and vision on how we can help strengthen the mortgage industry as it goes through transformative changes. We’re thrilled to have him join the Riivos team.” Share January 30, 2019 755 Views cloud technology Cogency FinTech HOUSING Jeffrey Axelrod Michele McGovern mortgage Riivos Riivos Mortgage SaaS 2019-01-30 Rachel Williams in Headlines, News, Technology
fijiNanuku AubergeResort Fiji’s Nanuku Auberge Resort has introduced a ‘Bed & Breakfast’ option, priced from FJD1447* per couple per night, with an a la carte breakfast choice served in the resort’s award-winning Kanavata Restaurant. The B & B offer also includes extras ranging from a selection of non–alcoholic beverages, WiFi, in-villa IPTV, and complimentary movies, to the services of a ‘Villa Mama’ and ‘Nanuku buddy’.A daily complimentary activities program features scheduled yoga sessions, guided beach walks and hikes, afternoon tea with scones and jam and canapes at the resort’s bar during Cocktail Hour. Use of the resort’s non-motorised water sports equipment, including snorkelling gear, paddle boards, kayaks, Hobie Cats and bicycles, is free to guests.*Conditions apply.