Aug
17

Cebu Pacific announces first US destination

first_imgThe Philippines’ leading carrier, Cebu Pacific Air, is slated to launch a four times weekly service between Manila and Guam on March 15, 2016. Guam is the airline’s first US destination.CEB will be the only low-cost carrier flying direct between the Philippines and Guam. This expansion will see the airline offering its trademark low fares to the sizeable Filipino community in Guam, which currently comprises about 26% of the island’s population*.“Having Guam in our network sets us off on another expansion path across the Pacific. With the launch of Guam, we offer fares that are up to 83% lower than other airlines. Fares this low can only mean more tourists to both countries, more Filipinos visiting home, and more opportunities for everyone,” said CEB President and CEO Lance Gokongwei.Recent data show that the Manila – Guam route is relatively underserved, compared to other destinations with smaller Filipino populations. There are approximately 5,900 weekly seats currently available between Manila and Guam.CEB’s entry into the market adds 1,440 weekly seats to this pool, boosting air traffic between the two countries further.CEB kicked off the Guam route announcement with USD40 one-way seats, available until November 29, 2015 or until seats last. These are for travel from March 15 to November 30, 2016. Quoted fares are inclusive of country taxes and fees, but are exclusive of travel products such as meals or baggage allowance.After the seat sale, CEB fares from Manila to Guam start from USD156, which is still up to 38% lower compared to other airlines.CEB’s Guam route will operate every Tuesday, Thursday, Saturday and Sunday, and will utilize the airline’s brand-new Airbus A320 fleet.The Manila-Guam service will depart at 3:45am and arrive in Guam at 10:15am. The Guam-Manila flight will depart Guam at 12:30pm and arrive in Manila at 2:55pm. CEB’s network now spans 64 destinations on 98 routes, including flights to Sydney, Doha, Beijing, Tokyo, Bali and Dubai. Fly Cebu Pacific AirSource = Cebu Pacific Airlast_img read more

Aug
17

More accolades for Outrigger Fijis Bebe Spa Sanctuary

first_imgSource = Outrigger Fiji Beach Resort More accolades for Outrigger Fiji’s Bebe Spa Sanctuary Resort Manager Russell Blaik with Praveena Dewan on his right and the Bebe spa teamMore accolades for Outrigger Fiji’s Bebe Spa Sanctuary2016 keeps getting better for Outrigger Fiji Beach Resort with a second international award in the bag for its Bebe Spa SanctuaryThe accolades continue to roll in for Outrigger Fiji Beach Resort’s beautiful Bebe Spa Sanctuary with a recent win in the Pevonia Awards International Best Spa Design category.In addition , Bebe therapist Ms Shivanjani  Lata was a finalist in the Best Therapist of the Year category, a title she won at the Australasian Spa and Wellness Association Awards in 2014.Earlier in the year Bebe Spa was awarded a TripAdvisor Certificate of Excellence, listed by TripAdvisor as ‘The most captivating Fiji resort spa’.Bebe Spa overlooks Outrigger Fiji Beach Resort from Vakalomalagi Hill with stunning views across a reef-fringed lagoon.  It contains eight open air treatment rooms, a Bure ni Loloma (Fijian for ‘House of Love’) – wedding chapel and a post and pre-treatment relaxation lounge and Kalokalo Bar which offers champagne views of the best sunsets in the South Pacific.Four of the treatment rooms, contain luxurious sunken spa baths on balconies which overlook the reef, adding another level of luxury to treatments.Pronounced Behm-beh, Bebe is a Fijian word meaning butterfly. All treatments practiced at Bebe are based on giving guests a sense of renewal that upon leaving the sanctuary, guests feel the soothing effects of being transformed into a butterfly.Spa Manager Praveena Dewan said that the spa menu focuses on uniting ancient Fijian therapies and beauty rituals with the world renowned effectiveness of the luxury Pevonia product.“These awards recognise our traditionally designed spa which transcends through to the spa menu and the dedication of our highly trained team and their efforts to deliver the ultimate spa experience to our guests,” she said. Outrigger Resortsbook herelast_img read more

Aug
17

Crown Towers Melbourne ranked number one

first_imgCrown Towers Melbourne ranked number oneCrown Towers Melbourne’s first-ever inclusion in the Forbes Travel Guide Star Rating listings was made all the more special with the news it delivered a higher composite review score than those who traditionally set the pace for the ‘world’s best’ set. One of only two Australian hotels to be named in this year’s Five-Star list, it is also Melbourne’s sole Five-Star representative.Forbes report showed Crown’s composite score of 93.97% actually outperformed 15 other prestigious luxury brands which Forbes identifies as offering the highest standard for luxury hotels across the globe –  including the likes of MGM Resorts International, Four Seasons Hotels and Resorts, and The Ritz-Carlton Hotel Company.The composite score is developed from the assessment of the hotel against up to 800 objective standards. These standards are the most stringent in the hospitality industry — with Forbes Travel Guide inspectors having stayed anonymously for two nights and three days at each hotel to evaluate every detail of the visit.Across the 25 core sections and classification score groups, Crown Towers Melbourne achieved a perfect 100% score for Guest Services, Hotel Phone Services, Fitness Facilities, Business Service, Housekeeping Daily Service, Guest Room, Cleanliness & Condition, Courtesy & Manners, Food & Beverage Quality and Staff appearance – demonstrating a high level of performance right across the Crown Towers Melbourne experience.The prestigious Forbes Five-Star rating reinforces Crown Towers Melbourne’s status as the premium in luxury accommodation in Australia and secures its place among the very best in the world.“We set out to provide an unprecedented level of luxury accommodation and we are both humbled and honoured by this endorsement from Forbes,” says Crown Resorts Chief Operating Officer Hotels, Retail, Food & Beverage, Peter Crinis.“With luxury travel predicted to continue on a rapid growth trajectory in Australia, it is accolades like this that set us apart as the ultimate hotel destination in the region, and as one of the greatest hotels to visit in the world.”“We are delighted to recognise the 2017 Forbes Travel Guide Five-Star Rating recipients, which includes an exceptional collection of hotels, restaurants and spas demonstrating the strongest culture of service,” said Gerard J. Inzerillo, Chief Executive Officer of Forbes Travel Guide.Crown Towers Melbourne, originally completed in 1997, is an exquisitely designed skyscraper comprising 449 rooms and villas over 38 floors. The property also houses Crown Spa, undeniably Melbourne’s finest and most exclusive day spa with lavish décor and private pampering suites.Located on the southern bank of the Yarra River, in Melbourne’s central business district, Crown Towers Melbourne is the most extravagant and lavish of the three hotels in Melbourne’s Crown Casino complex. Not only is it a short walk to the city, but boast access to the best culinary experiences and entertainment the city has to offer within the complex.With more than 31 million visits across Perth and Melbourne, Crown Resorts, the owner and operator of the complex that houses Crown Towers Melbourne, is already Australia’s largest tourism generator excluding airlines.For a detailed explanation of how Forbes Travel Guide compiles its Star ratings, visit www.forbestravelguide.com/about/ratings. Source = Crown Towers Melbournelast_img read more

Aug
16

NYC Company launches refreshed Make it NYC campaign

first_imgNYC & Company unveiled the newest iteration of its Make it NYC meetings and conventions marketing campaign at IMEX America 2015. The campaign includes refreshed branding and advertising incorporating a new tagline, ‘Meet Where You Want to Be’.“As one of the world’s most iconic destinations, New York City is at the top of every delegate’s wish list, and we encourage meeting professionals from around the world to plan a once in a lifetime experience that their attendees will never forget,” said Fred Dixon, President and CEO of NYC & Company. “With the newly redesigned Make it NYC campaign, we are hopeful that even more people will choose to meet where they want to be — New York City — this year and beyond.”Originally launched in 2013, Make it NYC was designed to position New York City as a leading meetings destination, calling to action the many benefits of hosting a meeting or event in the City’s five boroughs. The newest iteration of the campaign showcases the vibrancy of the destination through iconic imagery, including the Manhattan skyline and Statue of Liberty, and highlights the reasons that meetings in New York City are anticipated by delegates and planners alike.“New York City is one of the most attractive meetings destinations in the world, with 6 million delegates visiting the five boroughs each year,” said Jerry Cito, NYC & Company’s Senior Vice President of Convention Development. “From a diverse array of hotel offerings to one-of-a-kind venues to unique group experiences, there is no shortage of only-in-NYC meetings experiences to be had when meeting planners Make it NYC.”An asset to meeting planners, NYC & Company’s free-of-charge in-house Destination Services department is a one-stop resource for planning unforgettable meetings and conventions in New York City. The team connects planners with more than 2,000 businesses throughout the City’s five boroughs and also offers a Delegate Discount Pass, featuring savings at 110 restaurants, attractions and retailers.In 2014, New York City welcomed 6 million meeting and convention delegates, a number that is expected to grow to 6.1 million this year. An important contributor to New York City’s tourism industry, MICE visitation from around the globe continues to increase each year.last_img read more

Aug
16

Philip S Chitaunga

first_imgOTM is an excellent exhibition because we have been able to meet quite a good number of buyers and visitors. The show has been organised very appropriately. We also look forward to participate next year, probably even in a bigger way because our B2B meetings during the show have been extremely fruitful.last_img

Aug
16

Tanzania Tourist Board to leverage strong ties with India

first_imgTaps the Indian market with OTM MumbaiShruti Dugar | MumbaiAccording to Baraka Haran Luvanda, High Commissioner of Tanzania in New Delhi, India has been one of the largest contributors to the tourism industry of Tanzania. Indians are the biggest traders in Tanzania and also the fifth largest investors in the country. There are so many Indian companies in Tanzania. Moreover, 70,000 Indians have settled in Tanzania and 10 Tanzanians of Indian origin have also been elected to the Parliament, he revealed.With 2017 data, India has emerged as the third strongest inbound source market for Tanzania with nearly 40,000 visitors, constituting 6% of the total arrivals. Strengthening it further, this year onwards Tanzania Tourist Board will be focussing on building its base in the Indian market. “Though we have an Indian embassy, Tanzania Tourist Board will be setting up a representative office in Mumbai, Delhi and Kolkata to tap the potential Indian travellers,” said Hozza N Mbura, Marketing Officer, Tanzania Tourist Board.He elaborated that Tanzania is the largest country in eastern Africa. Dotted with abundant wilderness, it is soon becoming a top favourite among Indian travellers. Tanzania boosts many of Africa’s most renewed destinations; Serengeti plains, the Ngorongoro Crater, Lake Manyara, and Mount Kilimanjaro in the north and Mikumi and Ruaha National Parks and the Selous Game Reserve southwards.Highlighting their participation at OTM 2018, Mbura said, “Not only among the travel trade but also the general public showed their enthusiasm in exploring Tanzania. OTM gave us a fruitful opportunity to interact with a large market.”last_img read more

Aug
15

FBR Origination Slow in Q1 2013 Outlook Still Bright

first_imgFBR: Origination Slow in Q1, 2013 Outlook Still Bright Agents & Brokers Attorneys & Title Companies FBR Capital Markets Investors Lenders & Servicers Mortgage Bankers Association Purchase Loans Refinance Service Providers 2013-04-09 Tory Barringer April 9, 2013 414 Views in Data, Originationcenter_img Mortgage banks faced some headwinds at the beginning of 2013 in terms of origination slowdown, according to an earnings report preview from “”FBR Capital Markets & Co.””:http://www.fbr.com/[IMAGE]While the “”Mortgage Bankers Association””:http://www.mbaa.org/default.htm (MBA) estimates about $482 billion of originations in Q1, FBR–citing comments from industry contacts–believes first-quarter volume to be closer to $400 billion, a drop of nearly 25 percent from the $525 billion of originations in Q4 2012.””We now believe that 1Q13 stands to be lower than we expected from an industry origination standpoint, largely driven by seasonal weakness with the most significant [COLUMN_BREAK]impact at larger originators and potentially driving near-term weakness across the group,”” FBR said in its report.Though the year may have started slow, the investment banking advisory firm attributes the drop-off in activity to seasonal slowdown, especially as activity appeared to pick up in March.In addition, FBR notes third- and fourth-quarter origination volumes have been upwardly revised recently, giving hope that the first quarter will look better than originally thought once the numbers have settled.For the rest of the year, FBR’s outlook remains bright, with low interest rates and government expansion initiatives driving greater demand for refinances even as purchase loan volume recovers.””As such, we continue to believe the perceived ‘refinance cliff’ will happen later rather than sooner, with the hopes that refinance volumes will remain elevated long enough for the purchase market to continue to gain traction,”” FBR said. “”Though gains on the purchase side have been incremental thus far, housing supply improvements and mortgages for additional credit tranches provide meaningful tailwinds to volumes even as gain-on-sale margins continue to contract.”” Sharelast_img read more

Aug
15

Mortgage Rates Edge Down

first_img Adjustable-Rate Mortgage Bankrate Fixed-Rate Mortgage Freddie Mac Janet Yellen Mortgage Rates 2014-07-17 Tory Barringer July 17, 2014 442 Views in Daily Dose, Data, Headlines, News Sharecenter_img Mortgage Rates Edge Down The mortgage market saw little change in interest rates this week as Federal Reserve Chair Janet Yellen gave more signals that the low-rate environment is unlikely to go anywhere for the time being.Freddie Mac released Thursday the results of its latest Primary Mortgage Market Survey, showing the average 30-year fixed-rate mortgage (FRM) coming in at an interest rate of 4.13 percent (0.6 point) for the week ending July 17.The 30-year FRM averaged 4.15 percent last week and 4.37 percent a year ago.The 15-year fixed average was recorded at 3.23 percent (0.5 point), just down from 3.24 percent previously.Freddie Mac also recorded drops in average adjustable rates. According to the survey, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent (0.4 point) for the week, down from 2.99 percent.The 1-year ARM averaged 2.39 percent (0.4 point) from 2.40 percent previously.Bankrate.com’s survey was similarly flat, with both the 30- and 15-year fixed averages falling 1 basis point each—to 4.30 percent and 3.40 percent, respectively—and the 5/1 ARM remaining unchanged at 3.33 percent.“Like many Americans, mortgage rates seem to be taking a midsummer vacation,” Bankrate said in its weekly release. “Economic news has been mixed, and Federal Reserve Chair Janet Yallen’s recent Senate testimony indicated that the central bank will not announce a rate hike anytime soon.”Bankrate continued, “That’s good news for borrowers who have not refinance yet or need more time to find a house. But don’t expect mortgage rates to rest forever.”last_img read more

Aug
15

Deputy Treasury Secretary Student Debt Not Inherently Bad for Housing

first_img September 30, 2014 514 Views in Daily Dose, Headlines, News Deputy Treasury Secretary: Student Debt Not ‘Inherently Bad’ for Housing Speaking at the 56th annual meeting of the National Association for Business Economics (NABE) on Monday, Treasury Deputy Secretary Sarah Bloom Raskin said she does not see the nation’s growing problem of student loan debt leading to an economic meltdown—and student loan debt may not be affecting a borrower’s ability to buy a home, depending on that borrower’s financial situation.Raskin said that while student loan debt in the U.S. is a “serious burden for far too many borrowers,” totaling more than $1 trillion and is growing at approximately 11 percent every year, she does not believe that it is “inherently bad” when considering its significant return on investment where higher education is concerned.”We cannot understand the macroeconomic impact of student loans without incorporating the full economic and societal benefits of a more educated workforce,” Raskin said. “That is, what would the macroeconomic effect be if borrowers had no debt, but also lacked the higher education that comes with it?”Raskin pointed out that the “vast majority” of borrowers are current in their payment of student loans compared with those that are delinquent or in default. When examining the data concerning how student loan debt is affecting the borrower’s ability to obtain a mortgage loan for a home, she said it depends on what other financial resources are available to the homebuyer or how close the homebuyer is to having enough money for a down payment.Acknowledging that single-family home sales are still far below their pre-recession levels, Raskin then gave as an example the fact that the average borrower in 2012 would have saved about $800 per year if the student loan debt did not exist. This amount, she said, would save a borrower a total of $13,300 over the life of a 30-year mortgage at 4.5 percent. Or, the $800 theoretically saved would represent about 5 percent of the average mortgage loan down payment of $16,300.”So, the effect of a current student loan on the decision to buy a house is—or is not—significant depending on the borrower’s other financial resources or how short the borrower is from having enough for a complete down payment,” Raskin said.Raskin said the larger problem when it comes to homebuying is not the money going toward paying student loan debt that could be used for housing, but rather the damage done to the borrower’s credit when he or she defaults or is delinquent on a student loan.”What I call the ‘damaged credit’ channel may be the most dramatic channel through which to see macroeconomic effects, including in the housing market,” Raskin said. “So consider now a graduate who is delinquent or in default. Delinquencies for young adults are particularly relevant, since this is the population of potential first-time homeowners. This delinquency constitutes a negative credit event, which would limit access to credit, making it harder for the potential homeowner to get a mortgage. Negative credit events exacerbate access to not just mortgage credit, but also to other forms of credit. And when delinquencies become defaults, the full weight of the government’s collection efforts drop on the borrower, accentuating the negative credit event of a delinquency.”Despite the amount of data available as to the macroeconomic effect of student loan debt, Raskin said there is still a great deal that is unknown—and without that information, the full macroeconomic effect cannot be measured.”First, we need to better understand how borrowers view their loan repayment burden,” she said. “Is it a function of their total amount owed and the strength of entry-level jobs?  Or is it a function of monthly debt payments?  What other financial resources do they use? How do they evaluate their different options for higher education? To what extent do they understand all their options for repayment?”Second, we need to understand more precisely why borrowers reach delinquent or default status. We need to consider ways to reduce unnecessary delinquencies and defaults so as not to impair borrowers’ future access to credit and compromise their ability to avoid garnishment and loss of federal benefits.”center_img Share Debt First-Time Buyers Treasury 2014-09-30 Seth Welbornlast_img read more

Aug
15

Mortgage Demand Down as Lending Standards Steady

first_imgMortgage Demand Down as Lending Standards Steady Mortgage credit standards remained largely unchanged over the past three months as demand weakened overall, according to a report from the Federal Reserve.The Fed’s Senior Loan Officer Opinion Survey, which covers a three-month period ending in October, shows credit standards on prime mortgages remained basically steady at 83 percent of reporting banks over the last few months. Of the nearly 14 percent that reported easing their lending criteria somewhat, the vast majority were large banks with assets of $20 billion or more, with only one smaller institution dialing down its standards.Only about 3 percent of banks indicated tighter criteria compared to the last survey, all of which were classified as smaller companies.The numbers were largely the same for subprime and jumbo/non-traditional mortgages. Of the handful of banks that currently originate subprime loans, two-thirds said they kept credit standards unchanged, while the remainder were split between somewhat tighter and somewhat weaker criteria.The survey’s results reinforce a frequently cited challenge in the current mortgage market, which analysts say caters mostly to borrowers with near-pristine credit and excludes those with fair or even good profiles.On net, demand for all mortgage types weakened, though changes were mixed in each category. For prime loans, 19.4 percent reported moderately stronger demand, while 20.8 percent saw demand weaken moderately. Notably, the majority of banks experiencing increased demand for mortgages were smaller institutions, leaving larger banks fighting over a smaller share of business.The remaining 59.7 percent of surveyed banks reported no significant change in demand.For subprime mortgages, 83.3 percent of banks said they saw no change in demand, while one reported a slight weakening. Likewise, more than a quarter of banks said demand for non-traditional mortgages weakened, with only about 6 percent saying demand was moderately stronger. November 4, 2014 571 Views Sharecenter_img Credit Standards Demand Federal Reserve Senior Loan Officer Survey 2014-11-04 Tory Barringer in Daily Dose, Featured, Newslast_img read more

Aug
15

Employers Add 214K Jobs in October Unemployment Dips to 58

first_img Share in Data, Government, Headlines, News Updated.Job growth fell short of forecasts in October, but other employment indicators showed modest improvements for the labor market.U.S. employers added 214,000 jobs last month, the Bureau of Labor Statistics (BLS) reported Friday morning. Economists had expected payrolls would increase by 240,000, a slight decline from September’s preliminary estimate of 248,000 new jobs added.Meanwhile, the government revised its estimates for payroll growth in August and September, bringing those totals up to 203,000 and 256,000, respectively. With the latest revision to August, job growth has topped 200,000 every month this year except January.As of the end of October, BLS estimates the national unemployment rate was 5.8 percent, down from 5.9 percent to a new six-year low. Economists had anticipated no change.Among the nearly nine million Americans counted as unemployed in the government’s survey, an estimated 2.9 million were jobless for more than 27 weeks, down slightly from September. Over the past year, BLS says the number of long-term unemployed has dropped off by 1.1 million.The number of Americans classified as “marginally attached” to the labor force—defined as those who are not in the labor force but who have sought work in the last year—also fell slightly, dipping to 2.2 million after a jump in September. At the same time, the number of people who gave up looking for work climbed, hitting an estimated 770,000.Overall, the labor force participation rate nudged up, though it still remains historically low at 62.8 percent.The drop in the unemployment rate came in the same month that policymakers at the Federal Reserve made the decision to end the central bank’s bond purchasing program that began more than two years ago.While broader labor indicators (including the U-6 unemployment rate, which figures in marginally attached workers and those employed part-time for economic reasons) still show some slack, the direction of the market may spur the Fed to move its timeline for raising interest rates forward.”This is a strong report that suggests the first rate hike is coming sooner than many expect,” said Paul Ashworth, chief U.S. economist for Capital Economics. “We expect the Fed to start tightening in March next year.” Employers Add 214K Jobs in October; Unemployment Dips to 5.8%center_img Bureau of Labor Statistics Jobs Unemployment 2014-11-07 Tory Barringer November 7, 2014 553 Views last_img read more

Aug
15

Fannie Mae and Freddie Mac Surpass FHFA Credit Risk Transfer Goals

first_imgFannie Mae and Freddie Mac Surpass FHFA Credit Risk Transfer Goals In just three years, Fannie Mae and Freddie Mac have transferred significant credit risk on loans totaling more than $667 billion in unpaid principal balance (UPB), exceeding the goals set by their conservator, according to the FHFA’s Overview of Fannie Mae and Freddie Mac Credit Risk Transfer Transactions for August 2015 released Friday.With the transfer of credit risk on loans totaling more than $667 billion in UPB, the GSEs have made substantial progress toward achieving the FHFA’s goal of transferring more credit risk to the private sector.”Credit risk transfer is now a regular part of the Enterprises’ business. The Enterprises are currently transferring a significant amount of the credit risk on almost 90 percent of the loans that account for the vast majority of their underlying credit risk,” FHFA said in the report. “These loans constitute about half of all Enterprise loan acquisitions.”FHFA said that going forward it will set specific goals in the annual conservatorship scorecard and work closely with staff members at Fannie Mae and Freddie Mac to help the GSEs develop and evaluate their credit risk transfer structures. FHFA is encouraging the GSEs to continue engaging in large volumes of meaningful credit risk transfer.According to FHFA, there are three measures used to jointly consider in the amount of credit risk being transferred: 1) the proportion of loans on which at least some risk is transferred; 2) UPB of loans covered by the credit risk transfer; and 3) amount of risk transferred as a percent of the total estimated amount of credit risk for a group of loans.On the first measure, FHFA said it the GSEs are transferring about 90 percent of UPB for the largest category of loan acquisitions, which contain most of the new acquisition credit risk – that is, non-Home Affordable Refinance Program (HARP) refis that are fixed-rate 30-year loans with LTV ratios higher than 60 percent. On the second measure, Fannie Mae has transferred credit risk on $370.8 billion in UPB through eight Connecticut Avenue Series (CAS) transactions, while Freddie Mac has transferred credit risk on $235.5 billion in UPB through 14 Structured Agency Credit Risk (STACR) transactions. FHFA said both Enterprises have met their scorecard goals each year since 2013 as far as credit risk transfer amounts in terms of UPB. Also, while STACR/CAS issuances have been the accounted for the vast majority of credit risk transfer to date, the amount of credit risk transferred through insurance/reinsurance and other programs is growing.FHFA said the third measure of credit risk transfer, the amount of credit risk inherent in a loan pool, cannot be directly observable at the time the credit risk is transferred. In fact, this measure can only be assessed for a given pool of loans by using a credit model, according to FHFA.”The credit model should account for the fact that the amount of credit risk in the pool will vary according to the credit risk characteristics of the loans in the pool (e.g. credit score and LTV), the quality of underwriting at the time, and, importantly, the state of the housing market (whether or not there is a price bubble in play) at the time the loans are acquired,” FHFA said in the report. “This third measure is often translated into a measure of capital that should be sufficient to cover unexpected losses. The credit risk transfers are a means to reduce that amount of required capital.”More than 150 investors have participated in the STACR and CAS programs; any given transaction will typically feature anywhere from 50 to 70 investors, according to FHFA. Asset managers make up the largest share of participating investors with 53 percent; hedge funds have the next largest share with 31 percent.Even with the success of the Enterprises’ credit risk transfer programs in their first three years, much is yet to be determined.”Because the programs have not been implemented through an entire housing price cycle, it is too soon to say whether the credit risk transfer transactions currently ongoing will make economic sense in all stages of the cycle,” FHFA said. “Specifically, we cannot know the extent to which investors will continue to participate through a housing downturn. Additionally, the investor base and pricing for these transactions could be affected by a higher interest rate environment in which other fixed-income securities may be more attractive alternatives.”Click here to see the entire report. Credit Risk Sharing Fannie Mae Federal Housing Finance Agency Freddie Mac Unpaid Principal Balance 2015-08-21 Seth Welborn August 21, 2015 601 Views center_img in Daily Dose, Government, Headlines, News Sharelast_img read more

Aug
15

Falling Home Starts Could Be Because of Warm Winter

first_img It’s now the third month straight that U.S. homebuilding has fell—considering the U.S. is currently in a housing shortage, this isn’t good news. According to the latest report from the U.S. Census Bureau, this is the lowest level housing starts have been at in eight months.Building permits dropped an additional 4.9 percent from the revised April rate of 1,228,000, which is 0.8 percent lower than last May’s rate of 1,178,000. Single-family authorizations were at a rate of 779,000 in May, 1.9 percent down from April’s 794,000.MarketWatch said in a recent report that homebuilders are working at a slower pace than last year and have especially pulled back on apartment buildings and other large multidwelling units, which were at a rate of 358,000 in May.“Part of the recent slowdown might reflect a bit of a pause after an unusually warm winter during which builders were much busier than usual,” said MarketWatch. “Some economists contend a higher level of construction that occurred earlier in the year would have normally taken place in the spring.”Housing starts for privately-owned housing were at 1,092,000 in May, which is 5.5 percent lower than revised April estimate of 1,156,000—2.4 percent lower than May 2016’s rate of 1,119,000. Single-family housing starts were 3.9 percent below revised April figure of 826,000 at 794,000. As for apartments—284,000.“In May, the biggest drop-off occurred in the South and Midwest. Construction rose slightly in the West and was flat in the Northeast,” MarketWatch said.Privately-owned housing completions were at a seasonally adjusted rate of 1,164,000 in May, which is 5.6 percent above April estimates of 1,102,000 and is 14.6 percent above May 2016’s rate of 1,016,000. Single-family housing completions in May were 4.9 percent above the revised April rate of 779,000 at 817,000. May’s rate for units in buildings with five or more units was 335,000.“For years the housing market has experienced a mini-renaissance of sorts as a steadily growing economy, rising employment and ultra-low interest rates enabled home people to buy homes,” MarketWatch said. “The outlook might not be as favorable now, though. Aside from widespread labor shortages, prices for wood and other raw materials have also risen. And the Federal Reserve has embarked on a series of increases in a key U.S. interest rate that helps determine the cost of borrowing, a potential brake on future sales.” in Daily Dose, Data, Featured, News Housing Starts U.S. Census 2017-06-16 Brianna Gilpin Sharecenter_img Falling Home Starts Could Be Because of Warm Winter June 16, 2017 532 Views last_img read more

Aug
15

Construction Builds on Previous Progress

first_img census construction spending data Construction Spending National Association of Home Builders Residential Construction Spending single-family construction spending. Single-Family Homes. single-family housing 2017-12-04 David Wharton Construction Builds on Previous Progress December 4, 2017 521 Views Sharecenter_img in Daily Dose, Featured, journal, Market Studies, News A new National Association of Home Builders (NAHB) analysis reveals that single-family construction spending continued to grow in October 2017, climbing 0.3 percent for the month.The NAHB analyzed Census Construction Spending Data and found that the strong single-family construction spending gains were also helping shore up total private residential construction spending, which grew 0.4 percent in October, following a 0.2 percent decrease in September 2017. That amounts to a seasonally adjusted annual rate of $517.7 billion. Overall, total private residential construction spending was 7.4 percent higher in October than it was a year prior.NAHB’s construction spending index, seen below, charts changes in single-family construction spending, multi-family construction spending, and home improvement spending since 2000. All three have been trending upwards for most of the decade. For comparison’s sake, in October 2017 remodeling spending was also on the rise, leaping up 1.4 percent. Multifamily construction spending dipped for the month, however, slipping to 1.6 percent—2 percent lower than a year prior.As highlighted by a November 2017 Migration Report published by Redfin.com, residential construction spending has also been driving increased migration to various cities around the country. According to Redfin’s analysis, the top 10 cities with the highest net inflow include San Diego, California; Sacramento, California; Las Vegas, Nevada; Phoenix, Arizona; Atlanta, Georgia; Boston, Massachusetts; Dallas, Texas; Nashville, Tennessee; Tampa, Florida; and Miami, Florida.For anyone looking to learn all the ins and outs of the rental side of the single-family equation, be sure to register for the 2018 Single-Family Rental Summit, happening March 19-21, 2018, at the Renaissance Nashville Hotel in Nashville, Tennessee. The Summit will include discussion panels and training sessions led by top subject matter experts and skilled SFR practitioners, offering viable solutions related to property acquisition and management, financing, strategies for small, mid-cap, and large investors, and new developments related to technology and professional services. Learn all the details and register by clicking here.last_img read more

Aug
12

in 2017 TravelManagers has celebrated the 10th ann

first_imgin 2017 TravelManagers has celebrated the 10th anniversary of 11 Personal Travel Managers (PTMs) and, alongside these frontline folk, a further three team members from TravelManagers’ National Partnership Office have also notched up a decade with the company this year.TravelManagers maintains that behind every good PTM there is a team of dedicated people in the National Partnership Office, whose job it is to provide finance, marketing, technology and business support so that PTMs can focus on delivering the best possible service to their clients. One of these is TravelManagers’ Operations Manager, Pru Gallagher, who joined the company as the main support person in the operations team: a role that included working with new PTMs to set up their businesses. She was also responsible for managing the company’s first seven national conferences, and has been in her current role, overseeing the operations and training teams, for almost two years.“When I started in 2007 there were just over 30 PTMs to look after, and now we have more than 500,” says Gallagher. “I work with an amazing network of people from different walks of life and what I love most is that if a PTM needs help, either for themselves or for a client, they’ll have dozens of offers from within the network within minutes.”For Tanyu Cilek, who, as TravelManagers’ Finance and Commercial Manager, is also celebrating ten years with the company, maintaining a balance between ever-improving technology and connecting with PTMs on a personal level is an important focus. “In a world where email and social media dominates, I like to pick up the phone for a good, old-fashioned conversation. Our PTMs prefer to spend more time building relationships with their clients and less time on the phone or looking at their computer screens, and the same philosophy applies for us here at the NPO too.”The third ten-year NPO veteran is Maria San Pascual, who has been part of the company’s finance team throughout her time with them, and now works as Accounts Manager. She says the focus of both her team and the overall company has always been on providing excellent service to stakeholders. “The improvements made during my time in systems and processes has kept things interesting, but working with such a service-focused, dedicated team has been one of the highlights of my ten years.”Every year, the personal travel managers also have the opportunity to formally recognise NPO team members whose support is considered to be outstanding. This year’s winners, who received their awards at TravelManagers’ annual National Conference in Darwin, were Marketing Executive, Tania Myles, and Gary Jensen, who is responsible for the Tramada NextGen Help Desk.TravelManagers’ NPO support staff recognised by the PTM network for their outstanding support throughout 2016/17: Tania Myles, Marketing Executive and Gary Jensen, Tramada NextGen Help Desk with the company’s Chairman, Barry MayoTravelManagers has been operating for over ten years, and TravelManagers’ Executive General Manager, Michael Gazal believes with 21 PTMs having reached a decade or more with the company, it’s a strong endorsement of the company’s culture that NPO support staff are also marking the significant milestone.“Our business model is sustainable and offers good job security, but there’s also an excitement factor that is driven by the growth and potential within the business. Our people have a strong belief in their fellow team members and they love working in an environment that encourages initiative.”Celebrating ten years of loyal service to TravelManagers are Pru Gallagher, Maria San Pascua and Tanyu Cilek, pictured with Executive General Manager Michael Gazal and CEO Joe Araullolast_img read more

Aug
11

Top Stories

first_img Top Stories Arizona Cardinals starting left tackle D.J. Humphries could be out one to two weeks after suffering a knee sprain in the season-opening loss to the Detroit Lions, head coach Bruce Arians said Monday.Mike Jurecki of 98.7 FM, Arizona’s Sports Station reports that the starting offensive lineman was diagnosed with a Grade 2 MCL sprain and could miss up to four weeks.The third-year offensive lineman underwent an MRI on Monday after leaving the game in the first quarter of Arizona’s 35-23 loss Sunday. – / 26 5 Comments   Share   Derrick Hall satisfied with D-backs’ buying and selling Backup John Wetzel replaced Humphries but struggled at left tackle. Pro Football Focus graded him as one of the worst performers at his position throughout Week 1’s games.For the day, the left tackle from Boston College allowed ten total pressures (eight hurries, a hit and a sack) on 45 pass blocking snaps. He finished the afternoon with an 82.8 pass block efficiency rating (PBE measures pressure surrendered on a per-snap basis, weighting towards sacks) which ranked last – by a decent amount – among tackles at the conclusion of the early games.“Wetzel, given him his due, he didn’t practice at left tackle but a few snaps,” Cardinals coach Bruce Arians told Bickley and Marotta on 98.7 FM, Arizona’s Sports Station. “He was practicing at left guard, right guard, backing up everybody. With a full week of practice at left tackle, his technique will be much better.”Humphries earned the starting left tackle job after flashing at the position toward the end of last season when former starter Jared Veldheer was injured.Veldheer has since moved to right tackle, and Arians said Monday he will remain there as the Cardinals move forward with Wetzel on the left side of the line. Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impact The 5: Takeaways from the Coyotes’ introduction of Alex Meruelolast_img read more

Aug
11

At the end of the day Im trying to get to where

first_img“At the end of the day, I’m trying to get to where [Peterson] is at. I’ve got a lot of work to do.” – / 34 Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires 11 Comments   Share   TEMPE, Ariz. – Jamar Taylor heard rumors that the Cleveland Browns were shopping him, but he resolved to go about his business.“A guy like me, I try to keep my head down,” the sixth-year NFL cornerback said Wednesday. “After they drafted a corner fourth overall (Ohio State’s Denzel Ward), it’s kind of like, ‘Alright. Let’s get this ball rolling so I could hopefully get to a new team and I could put my best foot forward.’” Top Stories center_img Taylor, 27, got that opportunity when the Browns traded him to the Cardinals last week for a 2020 sixth-round pick. Training camp is still two months away so the Arizona roster is far from set, but Taylor is projected to fill the No. 2 cornerback spot opposite Patrick Peterson.“It always feels good to be wanted. Now I have to return the favor,” Taylor said. “I’ve always got 100 percent confidence in myself but at the same time you’ve got to put the work in. I have to make sure I’m doing my job so I get that opportunity to be on the other side.”Related LinksNFL’s new policy on national anthem protests is league’s latest blunder’Mindset of a vet’: Cardinals rookie QB Rosen is no long shot to be starterTwo Cardinals veterans express skepticism over new anthem policyMiami selected Taylor in the second round (No. 54) of the 2013 NFL Draft. He played three seasons for the Dolphins before Miami traded him to the Browns in 2016. He won a starting job in Cleveland, recording three interceptions before signing a three-year, $16.5 million extension that December. He has started 29 games over the past two seasons.When asked if Taylor would indeed be the starter opposite Peterson, Cardinals coach Steve Wilks offered a qualified answer on Wednesday.“When you look at what he’s done on paper, I think you can say that,” Wilks said. “But again, once they are on the field, it’s a clean slate for everybody. We all know a lot of teams aren’t going to really try to test Patrick. The guy opposite him is going to get a lot of opportunities, and hopefully we can find a guy to step up.” The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Brandon Williams and 2018 sixth-round draft Chris Campbell are the other main candidates, but Taylor has more experience than either. Taylor said he watches tape of Peterson every offseason. He believes playing opposite two-time pro Bowler Joe Haden in Cleveland prepared him for this challenge.“It’s just more plays for whoever is over there,” he said. “That’s how you’ve got to look at it; more opportunity for you to get picks.”Taylor was born in San Diego and played at Boise State. He was working out when the trade went down. His wife heard about it before him and called him excited.“I’ve been waiting to play on the West Coast my whole career,” he said. “I went to Miami, then all the way north to Cleveland. I’m happy to be close to home and I know she’s happy to be around her family. We’re going to have way more support at the games now.”John Gambadoro of 98.7 FM Arizona’s Sports Station confirmed ESPN’s report that Taylor agreed to drop his base salary from $4.25 million to $975,000 before the trade, dropping his cap number by $2.75 million. Taylor didn’t address that fact when asked about it, insisting he has another motivation.“I don’t play this game for money,” he said. “I started playing when I was 5 years old. It’s about just having fun. It’s about being on that field. It’s about the bond. It’s about being the best. Grace expects Greinke trade to have emotional impactlast_img read more

Aug
11

Top Stories

first_img Top Stories Grace expects Greinke trade to have emotional impact The Cardinals found their second starting cornerback, refashioned their quarterback room and addressed their offensive line.But with the exception of drafting receiver Christian Kirk in the second round, putting the pieces around Larry Fitzgerald at receiver hasn’t drawn as much optimism.Beyond Kirk, Arizona will rely on J.J. Nelson to improve his consistency, Chad Williams to take a big step after a quiet rookie year and free agent signee Brice Butler to prove he’s a No. 2 receiver. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo 13 Comments   Share   Decker has three 1,000-yard seasons in his resume, including a 2012 season that saw him haul in a career-high 13 touchdowns.Even an underwhelming 2017 compares favorably with the Cardinals’ other options: Nelson’s career-high of 568 receiving yards set in 2016 is best among the other receivers on Arizona’s roster. – / 34center_img There are still free agents on the market, and in finding some of them new homes, ESPN’s Bill Barnwell sees a fit between the Cardinals and veteran receiver Eric Decker.It makes sense that Decker would look up one of his former coaches from his time in Denver. Adam Gase probably isn’t a good fit given how much the Dolphins have invested at wide receiver, but a logical landing point would be with the Cardinals, who have a relatively middling wide receiver depth chart and former Broncos offensive coordinator Mike McCoy taking over in that role. Decker might not be able to beat out Chad Williams or Christian Kirk for regular snaps, but it’s probably worth a try for Arizona.Decker played for the Broncos from 2010-2013 and worked under first-year Arizona OC McCoy from 2010-2012. He joined the Jets from 2014-16 before landing in Tennessee last season, compiling 563 yards in 16 games played.Related LinksReturning from knee injury, Cardinals’ D.J. Humphries eyes a better 2018Cardinals’ Larry Fitzgerald on track to break one of biggest records in 2018The 31-year-old caught just one touchdown pass in the regular season but excelled in the playoffs, hauling in a game-winning touchdown against the Kansas City Chiefs in the first playoff game before hauling in six catches for 85 yards in a loss to the divisional game loss to the New England Patriots. Derrick Hall satisfied with D-backs’ buying and selling Tennessee Titans wide receiver Eric Decker, right, makes a catch in front of Arizona Cardinals cornerback Patrick Peterson (21) during the first half of an NFL football game, Sunday, Dec. 10, 2017, in Glendale, Ariz. (AP Photo/Ralph Freso) Former Cardinals kicker Phil Dawson retireslast_img read more

Aug
11

2 Arizona Cardinals 310 527

first_img2Arizona Cardinals3-10.527 7Jacksonville Jaguars4-9.546 (AP Photo/Mark Humphrey) 8Tampa Bay Buccaneers5-8.5009New York Giants5-8.50510Detroit Lions5-8.50711Cincinnati Bengals5-8.529 PickTeamRecordStrength of schedule A loss to the Detroit Lions at home Sunday kept the Arizona Cardinals right in the conversation when it comes to earning a top pick in the 2019 NFL Draft. Helping matters, the Cardinals’ competition at the bottom of the NFL standings, the San Francisco 49ers and Oakland Raiders, came out of Week 14 with surprising wins. The Niners held off a second-half rally by the Denver Broncos to win, 20-14, while the Raiders came from behind in the final seconds to beat the Pittsburgh Steelers, 24-21, on Sunday. 3Oakland Raiders3-10.565 That means Arizona, San Francisco and Oakland sit at the bottom of the NFL with 3-10 records. Four teams are a game back at 4-9, and four more are 5-8 with three weeks of regular season play left.The Cardinals and 49ers have the same record and strength of schedule, meaning their divisional record acts as the second tiebreaker. As of now, Arizona is 2-2 in the division thanks to two wins over the 49ers. San Francisco is 0-4 against NFC West opponents.Related LinksThe Arizona Cardinals aren’t just bad, they’re also unwatchableCardinals follow win in Green Bay with ‘surprising’ flop vs. LionsLions adapt to injury, game-plan hurdles in win over CardinalsRecord-setting Larry Fitzgerald praises young WRs in loss to LionsAlso of note is the fourth team in the draft order standings, the Atlanta Falcons. The Cardinals visit them this coming Sunday, and the result will have significant draft implications.Here’s a quick look at how the 2019 NFL Draft order stands with all but a Monday game between the Minnesota Vikings and Seattle Seahawks — neither of whom are in play to mix up the top of the reverse standings — to play this week.A few quick rules:• The top of the draft order is decided by the inverse winning percentage of non-playoff teams.• Tiebreakers are based on inverse strength of schedule — the aggregate winning percentage of a team’s opponents. In other words, the team that played the weakest schedule with the worst combined record will earn a higher pick. • The second tiebreaker is divisional records against common opponents.2019 NFL Draft order (as of Week 14) 5New York Jets4-9.505 Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo 4Atlanta Falcons4-9.493 5 Comments   Share   Derrick Hall satisfied with D-backs’ buying and selling 6Buffalo Bills4-9.531 1San Francisco 49ers3-10.527 Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impactlast_img read more

Aug
11

9 Comments  

first_img 9 Comments   Share   (AP Photo) Derrick Hall satisfied with D-backs’ buying and selling Grace expects Greinke trade to have emotional impact Top Stories The Arizona Cardinals have interviewed Los Angeles Rams quarterbacks coach Zac Taylor for their vacant head coaching position, 98.7 FM Arizona’s Sports Station‘s John Gambadoro reports.The Cardinals were expected to interview Taylor on Saturday, according to NFL Network’s Ian Rapoport.Taylor was also expected to interview on Saturday with the Denver Broncos, Rapoport said.Taylor was formerly with the Dolphins from 2012 to 2015. He served as the assistant quarterbacks coach for a year before being promoted to quarterbacks coach. He held that position for a little more than three seasons before taking over interim offensive coordinator duties for the final five games of the 2015 season. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Former Cardinals kicker Phil Dawson retires Related LinksBidwill faces tall task in selection of next Cardinals head coachA list of potential Arizona Cardinals coaching candidatesFollowing his time in Miami, Taylor went to the University of Cincinnati as the quarterbacks coach for the Bearcats in 2016.He joined the Rams’ coaching staff in 2017 as an assistant wide receivers coach before being promoted to quarterbacks coach in 2018.last_img read more