Dubai has officially welcomed one of its largest ever incentive groups, with more than 12,000 visitors from over 100 countries worldwide arriving for the Forever Global Rally 2017, taking place in the beginning of April 2017. Dubai Business Events, the city’s official convention bureau, successfully won the bid in 2015 to host USA-based Forever Living’s annual trip in partnership with a number of local stakeholders, including Dubai World Trade Centre (DWTC), Emirates and other key suppliers to the tourism and hospitality industry.The Forever Living Global Rally builds on the attractiveness and growth of Dubai as a destination for large incentive groups, as first demonstrated by Dubai hosting NuSkin in 2014.Issam Kazim, CEO, Dubai Corporation for Tourism and Commerce Marketing, said, “Dubai has consistently captured the hearts of travellers from around the world and has cemented its reputation of being an attractive destination for leisure and business. The growing influence of the incentive segment cannot be overlooked as it is a major contributor, not only towards the development of the overall business events industry, but also towards the success of the city’s tourism sector.”Nick Woodward-Shaw, Vice President, Global Events at Forever Living Products International, LLC, said, “Thousands of days of work have gone into the preparation of this incentive trip and we are sure that, with the help of some great partners in Dubai, we will be providing an experience like no other for our hard working business owners. From the unwavering support of Dubai Business Events to the simply brilliant logistical care of Arabian Adventures, we couldn’t have asked for better people to work with.”
Jet Airways has announced a partnership with Airbnb, setting an example in the industry-first initiative. The partnership will allow Jet Airways to offer a wide spectrum of rapidly growing, global hospitality choices to its guests from India, strengthening its portfolio of choices for stay that the carrier currently offers its guests.The partnership will infuse the extensive footprint of Airbnb in the Indian market by establishing a deeper connection with the new-age Indian traveller who is increasingly seeking unique and interesting experiences while travelling both in India as well as around the world.Giving his views on this maiden partnership, Jayaraj Shanmugam, Chief Commercial Officer, Jet Airways, said, “An increasing number of Indian travellers are embracing the fresh and highly personalised experiences that platforms like Airbnb offers. We are delighted to be the first Indian airline to partner with Airbnb and look forward to creating more of such innovative experiences for our guests.”Speaking about Airbnb’s first-of-its-kind partnership with an Indian airline, Amanpreet Bajaj, Country Manager– India, Airbnb, said, “Airbnb has been committed to building local partnerships which enable us to strengthen our connection with the Indian audience. With this partnership, Jet Airways fliers who are also Airbnb travellers will be able to enjoy the added-value they receive from being associated with two dynamic brands.”
Emirates recently celebrated 10 years of successful operations to Ahmedabad, the largest city in the state of Gujarat. Since its inaugural flight in October 2007, Emirates has carried over two million passengers from Ahmedabad.“We would like to thank all our customers and industry partners in Ahmedabad for their long-standing support over the years. We are proud to contribute to the country’s thriving economy, connecting Ahmedabad to key destinations in Europe, the United States, Africa and the Middle East. It’s been a remarkable journey and we look forward to offering further choice and excellent value for money to our Gujarati customers,” said Essa Sulaiman, Vice President, India and Nepal, Emirates.Emirates’ operates 10 weekly flights to Ahmedabad.
Jet Airways and Air France-KLM recently signed a landmark ‘Enhanced Cooperation Agreement’ for the development of their operations between Europe and India. The cooperation agreement will see Jet Airways, Air France and KLM working together to develop their commercial and product offering. Customers will thus benefit from multiple travel options and seamless service throughout the three partners’ networks spanning 44 cities in India and 106 destinations across Europe.Naresh Goyal, Chairman, Jet Airways said, “The enhanced cooperation agreement between Jet Airways, Air France and KLM being signed during Jet Airways’ 25th year and Air France’s 70 years in India, represents the next stage in our journey of offering our valued guests greater choice, connectivity and comfort across our combined global networks.”Jean-Marc Janaillac, Chairman and CEO, Air France- KLM, stated, “Air France-KLM and Jet Airways are launching the first cooperation agreement of its kind on the India-Europe route which is at the heart of the group’s strategy for the coming years. We are innovating within the airline industry by offering connections with two partnerships for the first time.”This agreement strengthens the partnership built between the three airlines since 2014. This cooperation was expanded in 2016 with an extensive code-share agreement for connections between Europe and North America and Jet Airways’ hubs at Mumbai and Delhi in India via Air France-KLM’ hubs at Paris-Charles de Gaulle and Amsterdam-Schiphol.
Agents & Brokers Attorneys & Title Companies Lenders & Servicers Mortgage Bankers Association Mortgage Fraud Processing Service Providers 2011-08-12 Ryan Schuette Fraud,FBI: Mortgage Fraud Activity Up in 2010 August 12, 2011 453 Views Share More brokers, loan officers, realtors, and others defrauded lenders, servicers, and homeowners over 2010 despite improving conditions in the housing market at large, according to the “”Federal Bureau of Investigation””:http://www.fbi.gov/ (FBI), which released a “”comprehensive report””:http://www.fbi.gov/stats-services/publications/mortgage-fraud-2010/2010-mortgage-fraud-report Friday. Mortgage fraud cases and investigations amounted to 3,129 cases over the year, 12 percent more than in 2009 and some 90 percent above the same trends in 2008.[IMAGE]Pooling data from “”CoreLogic””:http://www.corelogic.com/, the “”Mortgage Bankers Association””:http://www.mbaa.org/default.htm, and federal agencies, the FBI’s 2010 Mortgage Fraud Report found upward-bound cases of mortgage fraud across the country over the past year. Referencing CoreLogic, the FBI said that applicants fraudulently filed some $12 billion in loan applications last year. Seventy-one percent, or 2,222, of the FBI’s mortgage fraud cases involved more than $1 million in dollar losses.According to the report, CoreLogic summed up much of the reported mortgage fraud activity as income misrepresentation, despite a decline in the activity from 2009 to last year. Undisclosed debt, employment, and occupancy also accounted for fraudulent activity.A spokesperson for CoreLogic could not be immediately reached for comment.””The FBI views mortgage fraud as a significant crime problem,”” says William Carter, a bureau spokesperson. “”Combating fraud in this area is a priority due to the impact of mortgage lending on the nation’s economy, and also due to the impact of foreclosures on the community.””[COLUMN_BREAK]Commenting on the spike in mortgage fraud activity over 2010, Carter calls the “”distressed economy… the most significant factor in the perpetration of mortgage fraud.””The report relied heavily on origination, home sales, and other analytics information.””Although recent economic indicators report improvements in various sectors,”” it said, “”overall indicators associated with mortgage fraud ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô such as foreclosures, housing prices, contracting financial markets, and tighter lending practices by financial institutions ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô indicate that the housing market is still in distress and providing ample opportunities for fraud.””Several states saw the most known and suspected mortgage fraud activity. The most prevalent fraud occurred in Arizona, California, Georgia, Michigan, Nevada, New Jersey, New York, and Texas. Loan origination, real estate investment, equity skimming, short sale, and builder bailout schemes, among others, topped the most common ways in which perpetrators committed mortgage fraud, allegedly or otherwise.According to the report, loan origination schemes accounted for most of mortgage fraud activity, rounding out at 62 percent of all cases. Title, escrow, and settlement fraud followed with 14 percent. Fraudulent activity involving commercial real estate loans, short sales, and builder bailouts came out to much less of the share, amounting to 4 percent for both loans and sales and 2 percent for the latter.The FBI said that CoreLogic also found increasingly “”well-hidden”” instances of mortgage fraud activity, with lenders saying short sales and closing agent embezzlement had seen upticks.The FBI’s report arrives on the heels of a recent scheme it unveiled in New York. The bureau “”filed””:https://themreport.com/articles/14-indicted-over-58m-mortgage-fraud-payout-2011-08-10 five indictments against nine brokers and four lawyers, plus one disbarred attorney, over $58 million extracted in fraudulent loans and property transactions. in Data, Government, Origination, Secondary Market, Servicing
Fewer people are being kept out of the housing market because of the economic climate, according to a national survey by “”FindLaw.com””:http://www.findlaw.com/, a legal information website.[IMAGE]According to the survey, the number of people who say the current economic situation makes them more likely to buy a house increased three percentage points to 11 percent.Meanwhile, 30 percent of Americans say they are less likely to buy a house because of the state of the economy. In 2010, that percentage was more than double–63 percent.””Two years ago, the economic situation was driving a lot of potential homebuyers to the sidelines,”” said Stephanie Rahlfs, an attorney and editor with FindLaw.com. [COLUMN_BREAK]””But today we’re finding that the state of the economy is becoming less of a factor in keeping people out of the housing market,”” she added.Forty-nine percent of respondents said the economy hasn’t made them more or less likely to purchase a home. For those people, the state of the overall economy might be a secondary concern when it comes to buying a house.””Many factors influence housing decisions, including income, housing prices, proximity to work, job relocations, mortgage rates, ability to sell an existing home, school, and so on,”” Rahlfs said. “”But it’s clear that people’s outlook on the economy is now becoming less of a drag on the housing market.””The survey, which was conducted using a demographically balanced group of 1,000 American adults, also found that confidence is on the rise in the middle and upper income brackets.””[A]mong middle and upper income levels, we’re seeing a significant rise in people saying the current economy is making them more likely to enter the housing market,”” Rahlfs said. “”This may be due to some combination of historically low mortgage rates, housing prices that–although rebounding–are still relatively low, and people perhaps feeling more optimistic about the economy in general.”” Share November 6, 2012 471 Views Agents & Brokers Attorneys & Title Companies Confidence Home Prices Home Sales Investors Lenders & Servicers Mortgage Rates Processing Service Providers 2012-11-06 Tory Barringer Survey: Economy Steering Fewer People Away from Housing in Data, Government, Origination, Secondary Market, Servicing
November 28, 2012 424 Views New home sales barely budged in October, dropping 0.3 percent to 368,000 after September├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós report was revised sharply downward from an original 389,000 to 369,000, the “”Census Bureau and Department of Housing and Urban Development””:http://www.census.gov/construction/nrs/pdf/newressales_201210.pdf reported Wednesday. Economists surveyed by Bloomberg expected the report to show a sales pace of 387,000. [IMAGE]Both the average and median price for a new home fell from September but remain sharply higher than October 2011.Sales for July were also revised downward to 366,000 from the last report of 373,000, changing the momentum of new home sales. In the original report, sales had reached a 30-year high. This report is likely to dampen the enthusiasm of builders, who have seen the Housing Market Index compiled by the National Association of Home Builders increase steadily from 24 in April to 46 in November. While the current sales component of the index has seen a similar increase (25 in April to 49 in November) the buyer traffic component, which tracks visitors to model homes, has been relatively flat for the last three months at 35 after jumping from 23 in April.Even with the slow growth in October, sales are up 17.2 percent from October 2011. However, the year-over-year gain was weaker than the 25.3 percent annual growth reported for September.This report is based on sales contracts, not closings, and Hurricane Sandy may have had an impact, as sales dropped sharply in the most heavily impacted areas: the Northeast, where sales were down to 21,000 from September├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós 31,000, and the South, which saw sales drop from 199,000 in September to 176,000 in October. New home sales rose in October to an annual pace of 60,000 in the Midwest from 37,000 in September, a statistical correction since home sales in the region averaged about 50,000 in the 12 preceding months. Home sales in the West rose to 111,000 in October from 102,000 in September.The parallel report from the National Association of Realtors–its Pending Home Sales Index–will be issued Thursday.The number of new homes for sale at the end of the month rose to 147,000 from 145,000 in September, adding pressure to prices. Builders completed 542,000 single-family homes in October, up from 524,000 in September.The increase in inventory added pressure to prices, and indeed both the median and average price of a new home dropped for the second month in a row. The month-over-month drop in the average price–affected by the range of home sales–was the largest since February 2011 and the monthly decline in the median price the steepest since last November.Homes with price tags of less than $300,000 represented 69 percent of October sales, up from 65 percent in September.This sales report could be reflected in builder activity. Permits for new single family homes rose in October to a seasonally adjusted annual rate of 562,000 from 550,000 in September, while October starts were reported as 594,000, essentially flat to September├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós 595,000. October New Home Sales Dip, September Revised Downward Agents & Brokers Attorneys & Title Companies Census Bureau Demand Edward DeMarco First-Time Homebuyers For-Sale Homes Home Prices Home Sales Homebuilders HUD Investors National Association of Home Builders National Association of Realtors Service Providers 2012-11-28 Mark Lieberman in Data, Government, Origination, Secondary Market, Servicing Share
In Michigan, “”United Shore Financial Services””:http://www.unitedshore.com/, LLC (USFS) has a new leader at the helm. The company named Mat Ishbia as president.[IMAGE]Ishbia previously served as president of “”United Wholesale Mortgage””:http://www.uwm.com/ (UWM), USFS’ largest division and the fastest-growing wholesale mortgage lender in America.[COLUMN_BREAK]””This promotion recognizes the tremendous contribution Mat has made to the growth of USFS, including his hard work and success in building UWM into a top-10 wholesale lender and the fastest-growing company in its space,”” said USFS CEO Kip Kirkpatrick. “”Mat is already instrumental in running the larger USFS business day-to-day, and he is having a huge impact on where we are going as a company.””As president of UWM, Ishbia redesigned the sales team from a traditional outside sales model to an inside sales model, differentiating the company from its competition and boosting its production numbers into the top-10 industry-wide. He is credited with having a leading role in driving USFS to its best year since its founding in 1985.””I’m excited to take on greater responsibility for the continued growth and development of USFS, which is enhancing our ability to meet our clients’ needs through a combination of service, technology and industry-leading turn times,”” Ishbia said. “”We are determined to be the partner of choice for our clients, and, ultimately, to build the premier independent mortgage bank in the U.S.”” New,USFS Names New President Agents & Brokers Attorneys & Title Companies Investors Lenders & Servicers Movers & Shakers Processing Service Providers 2013-01-08 Tory Barringer January 8, 2013 437 Views in Data, Government, Origination, Secondary Market, Servicing Share
Agents & Brokers Attorneys & Title Companies CoreLogic Home Equity Home Values Investors Lenders & Servicers Processing Service Providers 2013-09-10 Tory Barringer Report: 2.5M Homes Return to Positive Equity in Q2 in Data, Government, Origination, Secondary Market, Servicing The number of mortgaged residential properties with negative equity fell more than five percentage points throughout the year’s second quarter, “”CoreLogic””:http://www.corelogic.com/ reported Tuesday.[IMAGE]According to the company’s analysis, approximately 2.5 million residential properties returned to a state of positive equity last quarter, bringing the total number to 41.5 million. Meanwhile, 7.1 million homes–or 14.5 percent of all residential properties with a mortgage–were still in negative equity, down from 9.6 million (19.7 percent) at the end of Q1 2013.The bulk of home equity during the quarter was concentrated at the high end of the market, with 91 percent of homes valued at greater than $200,000 having equity (compared to 80 percent of homes with values lower than that).[COLUMN_BREAK]The national aggregate value of negative equity was $428 billion at the end of Q2 compared to $576 billion the prior quarter, a decrease driven in large part by improving home prices, CoreLogic said.””Price appreciation obviously had a positive impact on home equity over the first half of 2013, especially the second quarter,”” said president and CEO Anand Nallathambi. “”Despite the substantial decrease in negative equity, there’s more ground left to gain with the 7.1 million U.S. residences that remain underwater.””In actuality, there’s far more ground than that to cover. Of the 41.5 million residential properties with positive equity, an estimated 10.3 million are “”under-equitied,”” meaning they have less than 20 percent equity. Because of that, those borrowers may have a more difficult time obtaining new financing for their home due to underwriting constraints and may struggle paying the costs to get a new home.Meanwhile, 1.7 million properties had less than 5 percent equity, qualifying them as “”near-negative equity.””According to CoreLogic, under-equitied mortgages accounted for 21.1 percent of all residential properties with a mortgage nationwide last quarter. Nevada had the highest percentage of negative equity mortgages in Q2 36.4 percent. It was followed by Florida (31.5 percent), Arizona (24.7 percent), Michigan (22.5 percent), and Georgia, (20.7 percent). Together, those five states account for 34.9 percent of negative equity in the country. September 10, 2013 441 Views Share
Share January 19, 2015 537 Views in Daily Dose, Headlines, News Altisource Cuts Hundreds of Jobs in Company Realignment Altisource Portfolio Solutions Ocwen 2015-01-19 Tory Barringer In the wake of what’s been a bumpy year for the company, Altisource Portfolio Solutions is cutting more than 800 jobs both overseas and at home.The move was announced in a conference call with investors on Friday that saw Altisource management working to reassure shareholders who have seen their stock drop more than 80 percent in the last year.In the call, CFO Michelle Esterman said the layoffs reflect the company’s need to realign its expenses as Ocwen Financial Corp.—Altisource’s biggest customer since it spun off in 2009—faces roadblocks to its own growth.Indeed, much of Altisource’s struggle in 2014 can be traced to its close relationship with Ocwen, which was dealt blow after blow throughout the year by state and federal financial regulators, who cited concerns stemming from consumer complaints.The hits continued earlier this month, when news broke that Ocwen may see its mortgage license suspended in California after it allegedly failed to comply with requests for loan documents from the state’s Department of Business Oversight. (In the call with investors, Altisource CEO William Shepro said the chances of Ocwen losing its license are very low, though he wouldn’t say more on the topic.)A spokesperson for Altisource confirmed the layoffs, and media outlets in Boston and India have reported news of local offices cutting staff.Altisource offered the following statement:”We have been focused on diversifying our revenue sources and expanding our business to appeal to a broader customer set for several quarters, including the launch of new products and multiple strategic acquisitions that position us for the future. After a comprehensive process to evaluate the most effective way to pursue continued expansion in light of changing market conditions, we have made the difficult but necessary decision to realign our employee base with the growth opportunities in front of Altisource. We are optimistic about new market opportunities, and the difficult actions we are taking now will better position Altisource to execute against our growth strategy over the long-term.”
Share in Daily Dose, Featured, News, Secondary Market Capital Investment Investopedia.com Real Esate Investment Trusts 2015-06-04 Staff Writer In an Investopedia.com report, author Dan Moskowitz documented the top five real estate investment trusts (REITs) that will persevere consumers’ capital investments. He also cautions to steer clear of trusts that do not have investor’s best interest of growing their capital at the forefront of their priorities.“REITs allow anyone to invest in portfolios of large-scale properties the same way they invest in other industries–through the purchase of stock, REIT.com says. “In the same way shareholders benefit by owning stocks in other corporations, the stockholders of a REIT earn a share of the income produced through real estate investment–without actually having to go out and buy or finance property.”Top Five Investopedia.com Real Estate Investment Trusts:ARMOUR Residential REITAccording to Investopedia.com, Armour Residential REIT, Inc. (ARR) has the highest yield of 15.6 percent of the trusts listed. This trust invests in and manages a portfolios of residential mortgage-backed securities (RMBS). Over the past 12 months, the stock at this company has depreciated 30.75 percent.Resource Capital Corp.Resource Capital Corp. (RSO) originates, holds, and manages commercial mortgage loans and other commercial real estate debt and equity. Investopedia says that the yield for this corporation is 14.8 percent, while its debt-to-equity ratio is 2.03. However, in a bull market, the stock for this company has consistently depreciated over the past two years and depreciated 26.74 percent over the past year.New York Mortgage TrustDespite a depreciation of 0.25 percent over the past year, New York Mortgage Trust Inc. (NYMT) had a 13.9 percent yield, Investopedia.com reported. However, this trust has a short position of 7.30 percent with a debt-to-equity ratio of 10.02.Chimera Investment Corp.Through its subsidiaries, Chimera Investment Corp. (CIM) invests in RMBS, residential mortgage loans, commercial mortgage loans, real estate-related securities, and various other asset classes, according to Investopedia. Chimera offers a yield of 12.80 percent, and the stock has depreciated 8.89 percent over the past year. The debt-to-equity ratio is 3.76, while the short position is just 0.90 percent.Pennymac Mortgage Investment TrustAccording to Investopedia, PennyMac Mortgage Investment Trust (PMT) primarily invests in residential mortgage loans and mortgage-related assets. It yields 13.40 percent, but the stock has depreciated 13.78 percent over the past year. PennyMac’s short position is 1.60 percent, and the debt-to-equity ratio is at 2.63.“High-yielding REITs shouldn’t be seen as easy money,” Moskowitz wrote. “There’s a reason the yield is so high, and it’s usually due to mounting debt or a lack of profitable growth. The high debt levels for these REITs don’t mesh well with the current economic climate. If you invest, then you might find near-term success, but you would be playing with fire.”Click here to view the full Investopedia.com report. June 4, 2015 495 Views Report Lists Top Five Highest-Yielding REITS of 2015
January 11, 2016 713 Views Auction.com Rebranding Ten-X 2016-01-11 Seth Welborn Share As part of the transition into an online marketplace that sells traditional, non-distressed properties, Auction.com announced on Monday that the company is rebranding as Ten-X.Based in Irvine, California, Auction.com was founded in 2007 as a disposition for distressed assets. Since then, the company has facilitated the sales of more than 200,000 residential and commercial properties totaling more than $35 billion. In recent years, the company has begun a migration toward non-distressed assets.In addition to rebranding as Ten-X, the company also announced that it plans to introduce new platforms in March that will give sellers the option to choose either an auction or a non-auction process when conducting transactions online.“Today’s announcement represents something far more significant than a name change,” Ten-X Chief Executive Officer Tim Morse said. “Our move to the Ten-X brand reflects our evolution into a marketplace for a much broader range of residential and commercial property types, and our expansion into new technology solutions that empower buyers, sellers and real estate professionals alike. Our vision is to make buying and selling real estate ten times better for everyone involved.”The three new transaction platforms Ten-X will feature under the new brand will be Ten-X Commercial (a national platform), Ten-X Homes (a platform with a national footprint with an initial focus in the launch markets of Dallas, Denver, Miami, and Phoenix), and Auction.com. Whereas Ten-X homes will feature tradition, move-in ready residential properties, the Auction.com platform will continue to feature properties for residential real estate investors. The company will launch the new platforms, which give sellers the choice of selling a property through either an auction or more traditional transaction, at the South by Southwest Interactive Festival in Austin, Texas, in March. Users will be able to utilize the new platforms on any device, including desktops, tablets, and smartphones.“We believe that, increasingly, people buying real estate want to be able to buy property whenever they want, wherever they happen to be, and on whatever type of computing device they’re using, and we plan to meet those requirements,” Morse said.He continued, “As real estate moves online, we are committed to providing buyers, sellers, and real estate professionals more of what they need to transact successfully. Ten-X offers a proven platform, a simplified process, and the information and tools that allow everyone to confidently buy and sell real estate online.” A Whole New Ballgame: Auction.com Rebrands Itself as Ten-X in Headlines, News
in Headlines, News April 7, 2016 550 Views LenderLive Announces Two Appointments to its Correspondent Lending Divison Share Correspondent Lending Divison LenderLive Mortgage Services 2016-04-07 Staff Writer LenderLive Network Inc., a domestic-based, mortgage services provider, announced that Lynn Collins and Tisha Hamari have joined the firm as Regional Account Executives for the company’s Correspondent Lending division.Collins covers the states of Texas, New Mexico, Oklahoma, Louisiana, and Arkansas, while Hamari covers Colorado, Utah, Arizona, Nevada, and Southern California, according to the company. Both will work with current and prospective clients, including community banks and credit unions participating in or considering the LenderLive correspondent program. In addition, both will report directly to Bob Kallio, SVP of the Correspondent Lending Division.LenderLive’s correspondent program is designed to serve the needs of mid-tier and smaller originators that want to protect their customer relationships. Unlike many large bank programs, LenderLive offers an option to co-brand its servicing with its correspondents. The program also offers quick client approval, fast turn times, competitive pricing, and greater engagement during the sales process to keep clients aware of the status of their loans.“There is growing demand for a better alternative when it comes to correspondent lending,” said David Vida, President of LenderLive Mortgage Services. “Clients are looking for new partners who can provide a consistent, superior customer experience and, at the same time, protect their relationships. Both Lynn and Tisha’s successful track records of working closely with correspondents to expand their mortgage businesses make them valuable additions to the team.”Collins brings more than 20 years’ experience in the mortgage industry to LenderLive. Most recently, she was an Account Manager for Stonegate Mortgage, where she assisted in the development of its correspondent and emerging banking business channels. Previously, Collins was an Account Executive with US Bank Home Mortgage, where she was responsible for correspondent and wholesale business development in Texas, Louisiana, and Arkansas.Hamari brings more than 23 years’ mortgage industry experience to LenderLive. She most recently served as Correspondent Sales Director for Titan Capital Solutions. Previously, she was a Correspondent Account Executive with BofI Federal Bank. Hamari also held Account Executive positions with national lenders, such as Thornburg Mortgage and Fifth Third Bank.
December 10, 2017 662 Views DocMagic Fights Paper Fallout With High-Tech Print Fulfillment Supercenter Share in Headlines, journal, News, Servicing Company News DocMagic print fulfillment center 2017-12-10 David Wharton DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance, and comprehensive eMortgage services, announced that it has opened a 12,000 square-foot print fulfillment center minutes from its Torrance, California headquarters. DocMagic added the high tech “supercenter” to support lenders’ growing need for secure, compliant paper documents as the mortgage industry transitions to a 100 percent digital mortgage process. “Ironically, DocMagic’s increasing need to produce paper documents results from the growing number of lenders using our technologies to transact paperless mortgages,” said Dominic Iannitti, President and CEO of DocMagic, who explained that even lenders employing 100 percent digital processes need to produce paper documents due to paper “fallout.” Paper fallout, which is normal and can be expected with any digital process, is usually caused when borrowers do not respond to email requests for eSigning within required timeframes or because they specifically ask their lenders to revert to paper documents. When this happens, lenders’ risk of compliance violations increases. The process of printing, preparing, and delivering paper documents is traditionally an intensely manual and time-consuming process, which increases lenders’ risk of missed disclosure deadlines, errors, and compromised data. “Simply creating a print fulfillment center wouldn’t have been an adequate solution because high risk is inherent in handling paper fallout,” said Iannitti. “We needed a fulfillment center based on technology that eclipses any process—manual or automated—currently being used to process paper documents. Fortunately, this is where DocMagic excels. We created a fulfillment supercenter that operates at the height of automation in the mortgage equivalent of a sterile environment. We’re very proud of what we’ve built.” The new fulfillment center uses biometric authentication and video monitoring to provide auditable assurance that only authorized individuals access the building and specific areas within the structure. Inside, advanced technology automates nearly every step of the paper process. Once the documents are ordered, a printer automatically feeds the paper documents directly into an automated system that scans and reads the barcodes to assure that all documents are present. The documents are then inserted into envelopes, sealed, and stamped—all without human intervention. The system logs and stores all actions, so lenders can review them and produce detailed information about any document’s activity, at any time. The result of this high-tech process for handling paper is a drastic reduction in the risk of errors, omissions and compromised data. “UETA [Uniform Electronic Transactions Act] requires that consumers be allowed to opt out of electronic processes at any time, but that’s just one compliance issue lenders need to address,” said Iannitti. “The key difference between DocMagic and a basic software provider is DocMagic’s core focus on providing a legal and compliant process. Unlike other providers, we’ve automated and integrated that opt out option within our workflow so lenders can avert risks that arise when transitioning to another system or vendor.” DocMagic plans to open additional regional print centers across the US over the next several years to support its expansion into other types of consumer loan programs. While there will always be some degree of fallout, as borrowers embrace the eSigning of all documents as the new norm, opting out to a paper process will become less common as well as the need to support additional fulfillment centers.
in Daily Dose, Data, Featured, journal, News Share March 26, 2018 592 Views For Seattle residents, 15 minutes and 40 minutes in the rush hour traffic could mean the difference between owning a home that costs over $900,000 and one that costs approximately $600,000. According to an analysis by Zillow, homes in Seattle with peak commute times of less than 20 minutes cost 40 percent more per square foot than those that are a 20-40 minute commute.The analysis found that buyers of typical Seattle-area homes should expect to pay a premium of 7.5 percent to live in a home that was five minutes closer to downtown during rush hour. When converted to actual values, this could mean paying up to $35,000 more on a home costing $468,000—the median value of homes in Seattle.“Put another way, a typical Seattle house might sell for $962,000 if it came with a 15-minute rush-hour commute, but only $632,000 with a 40-minute commute,” Zillow said in its analysis.It’s not only the price that people trade-off to live closer to work. According to the analysis, near the city center, where a car commute was under 20 minutes during peak hours, the median single-family home was about a third smaller than the median for the metropolitan area as a whole, coming in at around 1,260 square feet compared to 1,830 square feet in the larger metropolitan area.For those who use the public transit system too, a lesser commute time meant paying more dollars towards buying a home. Homes, mostly condos, with a transit commute of under 20 minutes were typically priced at around $690 per square foot, around 40 percent more than homes, mostly single-family units, with transit commutes between 20 and 40 minutes.While renters got a better deal than homeowners, the analysis found the story wasn’t very different when you compared apples to apples. The analysis found that while five-minute decreases in car and transit commute times were associated with 3 percent and 1.3 percent rise in rents for otherwise similar apartments as homeowners. However, rents per square foot were about 34 percent higher for units with the shortest commutes, relative to those with longer ones.For the analysis, Zillow, along with Here Technologies, estimated peak commute times to Seattle’s downtown from every home in the metro area and then matched that data with its own database on individual home sizes, home values, or rents. It then grouped these homes into bands by commute time (for car and transit commutes) and characterized the typical home in each band. Finally, Zillow estimated a model to compute counterfactuals i.e. how much would these homes cost if they came with a shorter commute. Apartments Buyers Condos Costs Home Prices Home Sales Home Values homeowners HOUSING property Rents sales Single-Family Homes Space square feet 2018-03-26 Radhika Ojha Up Your Commute Time for a Dramatic Decrease in Home Prices
The five-star Pullman Reef Hotel Casino in Cairns has completed an extensive $6.5 million refurbishment program extending to all level 1 public areas, with the update including a new-look hotel lobby, expansion of Tamarind Restaurant, new Bar36 Live Lounge and new Merchant café. In a move designed to set the hotel apart from its counterparts, Pullman Reef Casino Hotel will now offer guests who book their stay on accorhotels.com luxurious inclusions, regardless of the room type selected.The properties room rates (starting from $305* per night) will now automatically include breakfast daily, self-parking, Wi-Fi, free national calls, a daily drink in the hotel’s new Bar36 and selected mini bar items free of charge that will be replenished daily.General manager Wayne Reynolds said the facelift comes at a perfect time to capitalise on the positive business and tourism drive for the region anticipated for 2017.“It’s an exciting time for Cairns with solid growth and a very positive tourism forecast for the immediate future,” he said.“With our new booking inclusions policy, every guest will now receive access to extra amenities similar to what’s offered to those who book Executive packages. The hotel has also invested in new in-room soft furnishings including new room lighting and the addition of Nespresso coffee machines in every room.”Rooms and suites feature upscale décor, amenities and private balconies with views of either the water or city. Some accommodation types offer interconnecting options.*Terms & conditions apply. CairnsPullman Reef Hotel Casino
Vietnam Airlines has announced a promotional fare deal on all flights travelling from Sydney and Melbourne to Ho Chi Minh City and Hanoi.The sale fares can be booked until 28 February 2019, and are valid for travel from now until 7 December 2019.Sydney and Melbourne to Ho Chi Minh City with Vietnam Airlines starts from $728 return in economy*, and Sydney and Melbourne to Hanoi starts from $735 return in economy*Vietnam Airlines flies from Sydney direct to Hanoi on Mondays, Wednesdays and Saturdays, and flies direct from Sydney and Melbourne to Ho Chi Minh daily.*subject to seat availability saleVietnam Airlines
Top Stories Comments Share The Arizona Cardinals, seeking to acquire depth in thedefensive backfield, are bringing William Gay in for avisit. According to Darren Urban of AZCardinals.com, Gay joinsthe Packers’ JarrettBush as players checking out the Cardinals Monday. Cards get a pair ofDB visits today: Jarrett Bush (Packers) and William Gay(Steelers) bit.ly/wIgTtn—Darren Urban (@Cardschatter) March19, 2012 What an MLB source said about the D-backs’ trade haul for Greinke Nevada officials reach out to D-backs on potential relocation ProFootballFocus.com ranks Gay as theseventh-best free agent cornerback, saying, “He’s stillonly 27, and does have talent, but any team who signs himwill still be paying for potential more than production.”But that may be especially interesting to the Cardinals,as defensive coordinator Ray Horton was Gay’s defensivebacks coach in Pittsburgh before he left for the desert. D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Gay, 27, has spent his entire five-year career with theSteelers, recording three interceptions and 247 tackles(205 solo). Cardinals expect improving Murphy to contribute right away
It’s easy to say u would have done different but in the heat of the moment I just reacted when I seen my brother get punched.— Bruce Irvin (@BIrvin_WVU11) February 2, 2015 0 Comments Share Bennett explained after the game.“Just two rowdy teams. It’s down to the final play. People were jumping, pulling. That’s what it is. I know you probably have never played football,” he said. “You’ve probably never done anything physical in your life besides pick up a microphone, but when you’re out there it’s a battle. It comes down to that. It’s one of those things where we’re fighting, they’re fighting. It’s just a little rowdy sometimes.”Irvin was a little more remorseful in the locker room.“I was protecting a teammate. Emotions flew. I saw somebody hit Mike Bennett, so I went and backed up my brother,” he said. “I went about it wrong. Emotions were flying high, and I apologize. But if it happened again, I would go protect my teammate. That’s just how it is.”Further removed from the incident, Irvin took to social media to apologize. The Seahawks had other plans. Tempers flared as Bennett and Bruce Irvin got into shoving matches with Patriots guard Dan Connolly and tight end Rob Gronkowski. Fights spilled into the end zone and when the skirmish stopped, Irvin was ejected.Not a fitting end to a very entertaining Super Bowl. Top Stories Derrick Hall satisfied with D-backs’ buying and selling – / 95 Grace expects Greinke trade to have emotional impact Still not an excuse and I’m truly sorry to all the 12’s and my Wvu family for my actions.— Bruce Irvin (@BIrvin_WVU11) February 2, 2015 Former Cardinals kicker Phil Dawson retires What an ending!The New England Patriots snatched victory from the jaws of defeat when rookie free agent cornerback Malcolm Butler stepped in front of a Russell Wilson pass and intercepted it at the goal line with :20 left to preserve a 28-24 win.But the game wasn’t over. The Patriots had to snap the ball from their 1-yard line on the ensuing possession. Seattle’s Michael Bennett jumped offside, giving New England some breathing room out to their own 6-yard line, which would have allowed quarterback Tom Brady to take a knee in victory formation. I want to apologize to all of the younger kids for my actions last night. I was trying to protect my brother and it got out of hand.— Bruce Irvin (@BIrvin_WVU11) February 2, 2015 The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo
Comments Share In the third round, Kiper has the Cardinals taking Michigan center Graham Glasgow, who started 37 games on the Wolverines offensive line. Glasgow received All-Big Ten honorable mention in 2015 and was a three-time Academic All-Big Ten selection.ESPN has Glasgow ranked as the fourth-best center available in this year’s class behind Ryan Kelly of Alabama, Nick Martin of Notre Dame and Max Tuerk of USC. Kelly, incidentally, is the player most frequently projected as a first-round pick of the Cardinals, showing up in 24 mocks since March 1. Grace expects Greinke trade to have emotional impact Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires The NFL Draft is just nine days away, and the flood of mock drafts put out by experts is increasing in its intensity.Like his ESPN colleague Todd McShay did last week, Mel Kiper Jr. has published his three-round “Grade-A” mock draft in an insider piece on the website. In this mock, he plays the role of general manager for each team and makes his selection based on what is best for each franchise in the given draft slot. Louisiana Monroe quarterback Garrett Smith gets up after being tackled by Georgia linebacker Leonard Floyd during an NCAA college football game in Athens, Ga., Saturday, Sept. 5, 2015. (Brant Sanderlin/Atlanta Journal-Constitution via AP) Kiper mocked the first three rounds of the draft in which the Arizona Cardinals own two selections. Here’s the haul the longtime draft expert has coming to the Cardinals.Arizona CardinalsRound 1 (29): Leonard Floyd, OLB, GeorgiaRound 3 (92): Graham Glasgow, C, MichiganAnalysis: This draft is off to a good start already thanks to the addition of Chandler Jones, who represents that second-round pick that was shipped to New England. While safety is a clear need, with Vonn Bell off the board it makes sense to grab Floyd, who provides needed pass-rushing ability. There aren’t gaping holes, but I don’t need to reach for a needed center in Round 1 at the cost of passing on a high-upside pass-rusher like Floyd, and I’m able to grab Glasgow in Round 3.Floyd has been frequently linked to the Cardinals at number 29. In fact, the Georgia outside linebacker has shown up as the Cardinals’ first-round pick in 10 mock drafts tracked by ArizonaSports.com since March 1. Floyd was the Bulldogs’ second-leading tackler in 2015, with 74 combined stops. He also led the team with 4.5 sacks and was tied for the team-lead with 10.5 tackles for loss. In his three years in Athens, Floyd registered 184 total tackles, 17 sacks, forced five fumbles and had 54 quarterback pressures.