Category «irrlaeoeuxozvpfi»

Betway and Mandalorian fined over bonus offers in Sweden

first_img Tags: Online Gambling Email Address Betway and Mandalorian fined over bonus offers in Sweden Subscribe to the iGaming newsletter Swedish gambling regulator Spelinspektionen has handed six-figure fines to Betway and Mandalorian Technologies after finding them both in breach of regulations related to bonus offers in the country. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Swedish gambling regulator Spelinspektionen has handed six-figure fines to Betway and Mandalorian Technologies after finding them both in breach of regulations related to bonus offers in the country.Licensed operators in Sweden can only offer players a bonus when they first sign up to their online gambling platforms, but Betway and Mandalorian were found to have offered bonuses on several occasions after the initial sign-up.In response to the findings, Spelinspektionen has now issued Betway with a fine of SEK5m (£406,812/€465,183/$521,224) and warned the operator about its conduct. Mandalorian has also been fined SEK9m and given an official warning.“The main purpose of the new gambling regulation, which came into force on January 1, 2019, is to strengthen consumer protection and reduce the negative effects of gambling,” Spelinspektionen said in a statement.“The limitation on bonuses is contained in the law to reduce social and economic damages and problem gambling. The Spelinspektionen will therefore continue to focus on supervision of this area.”Spelinspektionen wrote to all licensees in February to warn them against offering bonuses to existing customers. The regulator noted “some compliance” from the two operators, but its assessment was that further measures were required in order to achieve full compliance.The regulator defines bonuses as a form of discount of similar financial incentive directly linked to a game on an operator’s website.Betway is licensed to operate in the Swedish market via its site, while Mandalorian offers igaming services through both its and domains. Regions: Europe Nordics Sweden Topics: Finance Legal & compliance 16th May 2019 | By contenteditorlast_img read more

The Union Sugar Estates Co Ltd ( Q32013 Interim Report

first_imgThe Union Sugar Estates Co Ltd ( listed on the Stock Exchange of Mauritius under the Agri-industrial sector has released it’s 2013 interim results for the third quarter.For more information about The Union Sugar Estates Co Ltd ( reports, abridged reports, interim earnings results and earnings presentations, visit the The Union Sugar Estates Co Ltd ( company page on AfricanFinancials.Document: The Union Sugar Estates Co Ltd (  2013 interim results for the third quarter.Company ProfileThe Union Sugar Estates Co. Limited specialises in growing and cultivating sugarcane amongst other agricultural products. The company has, however, diversified into agro-industry, tourism, IT services and trading. The Union Sugar Estates Co. Limited is listed on the Stock Exchange of Mauritius.last_img read more

EasyJet shares: is now the time to buy?

first_imgSimply click below to discover how you can take advantage of this. Edward Sheldon, CFA | Tuesday, 31st March, 2020 | More on: EZJ Image source: Getty Images. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Edward Sheldon, CFA I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. With the travel industry grounding to a halt in the wake of the coronavirus outbreak, airline stocks have been hit hard. EasyJet (LSE: EZJ) shares are a great example.Back in mid-February, EZJ shares were changing hands for over 1,500p. Today, however, you can buy the shares for less than 600p – around 60% lower. Is this sharp drop in the share price a buying opportunity for long-term investors? Here are my thoughts.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Alarming announcementsLooking at recent announcements from easyJet, it’s fair to say that the near-term future looks pretty bleak.For starters, the company announced yesterday that in response to the unprecedented travel restrictions imposed by European governments, it has grounded its entire fleet. It doesn’t take a rocket scientist to realise that that is a huge problem for the airline. The company added that, at this stage, there can be “no certainty” of the date for restarting commercial flights. Again, that’s quite alarming.It also said, in an update on 16 March, that European aviation faces a “precarious future”, and that there is no guarantee European airlines will survive what could be a long-term travel freeze and the risks of a slow recovery. It added that the future of the industry will ultimately depend on the level of support provided by governments across Europe (although the group still paid out £174m in dividends on 20 March, which has angered a lot of people).What this news ultimately means is that there’s an enormous amount of uncertainty in relation to the investment case for easyJet shares right now. With no planes in the air, no guidance as to how long the travel freeze will last, and no idea what earnings for FY2020 will be (the group recently suspended its guidance), investors really are flying blind.Could easyJet go bust? It’s worth noting that easyJet says that it has a strong balance sheet, which includes a £1.6bn cash balance and aircraft worth over £4bn. It also says that it has an undrawn $500m revolving credit facility, a slot portfolio that is “large and valuable,” and that it has no debt refinancing due until 2022. This suggests that the company is unlikely to go bust tomorrow.Are easyJet shares worth buying?Weighing everything up though, I don’t think easyJet shares are worth the risk right now. Yes, the share price has fallen a long way, but there is an awful lot of uncertainty at present. As my colleague Harvey Jones said yesterday, buying airline shares now is a “wild, desperate” punt. In my view, the overall risk/reward proposition offered by the FTSE 100 stock is not yet attractive enough.Of course, if the easyJet share price keeps falling (which I think it may well do), the risk/reward profile of the stock could improve. However, for now, I’ll be leaving easyJet shares alone and focusing on companies that are still ticking along nicely. Enter Your Email Addresscenter_img Our 6 ‘Best Buys Now’ Shares Edward Sheldon has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. EasyJet shares: is now the time to buy? Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. “This Stock Could Be Like Buying Amazon in 1997”last_img read more

Frugi opens Happy Childhood Fund offering up to £5,000 per project

first_img Melanie May | 23 June 2020 | News Frugi opens Happy Childhood Fund offering up to £5,000 per project About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 WATCH: Helene Weston on Frugi’s Happy Childhood Fund Ethical and organic baby and children’s clothing company Frugi has launched the Happy Childhood Fund: an initiative aimed at helping improve the lives of vulnerable children living in poverty throughout the UK.The fund will be ongoing, and offers up to £5,000 per project.Frugi is encouraging UK registered charities working with children and communities in any of three following areas to apply: hunger, shelter, and nature.The areas represent the core elements of Frugi’s main mission statement, and it is looking for grass roots charities of any size to apply, with it seeking to fund projects in their entirety rather than running costs. Applications will open four times throughout the year and will last for three weeks each time.CEO Hugo Adams commented:“I am extremely excited to announce the launch of our Happy Childhood Fund at this precarious time. It goes without saying that many children and families have been put under a lot of strain these past few months.  By aligning our goals and combining funds with many other worthwhile charities all over the country, Frugi can make a bigger impact in helping many vulnerable children lead better, happier lives.”Charities can apply through a Survey Monkey form at and the first deadline is 8 July.Founded in Cornwall in 2004, Frugi already donates 1% of its turnover to charity every year through its Little Clothes BIG Change project. To date, it has given more than £600,000 to good causes. At the end of this financial year in June, Frugi will also be donating an additional £140,000 to charity for the past year.  This amount will be divided and shared amongst its charity partners, including The Cornwall Wildlife Trust, Chance for Childhood and Little Life Savers.center_img  470 total views,  2 views today Advertisement  471 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 Tagged with: Fundinglast_img read more

Court rules that NTN TV’s licence is valid

first_img Organisation UkraineEurope – Central Asia Help by sharing this information News UkraineEurope – Central Asia News Ukraine escalates “information war” by banning three pro-Kremlin media RSF_en Follow the news on Ukraine News to go furthercenter_img News The national supreme economic court ruled on 28 April that the broadcasting licence of the TV station NTN was valid, rejecting the prosecutor-general’s challenge to an appeal court decision allowing the station to expand its network in the country. The decision had been contested in late March by the national broadcasting council, which held that a licence could not be attributed by simple legal decision but only by a fair and open bidding process. – – – – – – — – TV station claims it is the victim of conspiracy2th April 2005Reporters Without Borders cautioned Ukraine’s new authorities against any attempt to seek revenge against news media with ties to the old regime today after journalists employed by the TV station NTN yesterday protested against the refusal of the Council on Television and Radio to let the station extend its broadcast network.NTN is controlled by Eduard Prutnik, a former advisor to Viktor Yanukovych, who was President Viktor Yushchenko’s main opponent in last year’s presidential election. The economic supreme court is to rule within a week on the proposed extension licence, which is highly controversial.”Reporters Without Borders is paying close attention to developments in the news media in Ukraine since President Yushchenko took office,” the press freedom organization said. “We remind the authorities of the undertakings they gave as regards press freedom. As soon as he was elected, the president said respect for press independence would be a priority for his administration. Journalists must not be held hostage to any possible attempt to seek political revenge.”Around 100 NTN journalists protested yesterday outside the president’s office against the pressure which they claim the new authorities are putting on their TV station.NTN, which has been operating since the start of November, has challenged the council’s refusal to approve its plans to extend its broadcast network to the entire country, which had previously received authorization from two courts. The office of the prosecutor general in Kiev has appealed, and a decision is due on 8 April.Council member Vitaly Chevchenko said NTN obtained its licence illegally when it was created. The licence allows NTN only to broadcast in Kiev and the surrounding region, but it is already broadcasting to 26 cities and has asked the council to let it broadcast to 76 cìties. “If the TV station wants to extend its broadcast network, it must be done as part of an official bidding procedure,” Chevchenko said.NTN editor in chief Natalia Katerynchuk responded: “We paid for our licence when the station was created and we have the receipt dated 15 November 2004. This is nothing less than a conspiracy against our station which has a completely independent editorial line.” Crimean journalist “confesses” to spying for Ukraine on Russian TV February 26, 2021 Find out more April 29, 2005 – Updated on January 20, 2016 Court rules that NTN TV’s licence is valid Receive email alerts March 26, 2021 Find out more Ukrainian media group harassed by broadcasting authority September 7, 2020 Find out morelast_img read more

Tally of cases of abuses against journalists

first_img EgyptMiddle East – North Africa February 1, 2021 Find out more February 6, 2021 Find out more EgyptMiddle East – North Africa February 4, 2011 – Updated on January 20, 2016 Tally of cases of abuses against journalists News Al Jazeera journalist Mahmoud Hussein back home after four years in prison News Reporters Without Borders is posting a provisional tally of cases of abuses against journalists and media since the start of the violence on 2 February, above all in Cairo’s Tahrir Square. The tally is far from final or definitive. Additional cases keep on being reported and it is very difficult to compile a comprehensive inventory of the situation. It will be updated as information is received.Nonetheless, the tally already gives a picture of the incredible scope of the campaign of hate and violence unleashed against the international media. Few news organizations have been spared. Almost every journalist in Cairo seems to have been the victim of an incident.Some requested anonymity for fear of reprisals1 journalist dead: Ahmed Mohammed Mahmoud from Al-AhramJournalists attacked but not detained : 79 Journalists detained for at least 2 hours : 76Case of material harmed and media offices closed : 25Media the most targeted : Al Jazeera with 3 reporters attacked and 4 detained (all released) + office trashed.Countries with the most harassed journalists in Egypt : US (30 + a VOA team)France (18)Poland (9)Qatar (7 – all Al Jazeera) Follow the news on Egypt to go further January 22, 2021 Find out more RSF_en News Organisation Less press freedom than ever in Egypt, 10 years after revolution Detained woman journalist pressured by interrogator, harassed by prison staff News Help by sharing this information Related documents listing_violences_egypt-2.xlsVND.MS-EXCEL – 64.5 KB Receive email alertslast_img read more

Jang correspondant gunned down in Sindh province

first_img Zubair Ahmed Mujahid, a correspondent of the Jang newspaper, was shot dead after criticising landowners and police in Mirpur Khas. He is the sixth Pakistani journalist to be killed since the start of the year. Pakistani TV anchor censored after denouncing violence against journalists Reporters Without Borders is appalled by the murder of Zubair Ahmed Mujahid, a correspondent of the national daily Jang, on 23 November in Mirpur Khas, in the southern province of Sindh. His elder brother told the press freedom organisation he was “killed because of his articles criticising the situation of the poor” in the area.”We call on the federal and provincial authorities to quickly appoint a team of investigators to arrest the killers and identify those who ordered the murder,” Reporters Without Borders said. “Mujahid was a committed and courageous journalist. If impunity again prevails in this murder, all of Pakistan’s journalists will feel even more threatened. This tragedy is further proof that the authorities are unable to ensure journalists’ safety.”Mujahid is the 6th Pakistani journalist to be killed since the start of the year. Pakistan is now the world’s third most dangerous country for the media, after Iraq and Somalia.Mujahid was shot in the stomach by a man on a motorcycle as he was returning home by car with Wahid Hussain, the vice-president of the Mirpur Khas press club. He died instantly.A veteran reporter, Mujahid wrote a weekly column for Jang called “Crime and Punishment” in which he often criticised landowners and police. After one of his articles about the mistreatment of members of a low cast by landlords, the supreme court ordered the suspects arrested. Another of his reports led to arrests of local policemen involved in violence against villagers.”Our family does not have any family conflicts,” his brother, Muhammad Iftikhar, said. “My brother wrote articles about the fate of the poor which obviously targeted influential people.” the family has filed an initial complaint (FIR) that does not name any suspects and the police have not yet made any arrests. January 28, 2021 Find out more April 21, 2021 Find out more Pakistani supreme court acquits main suspect in Daniel Pearl murder News Receive email alerts PakistanAsia – Pacific Follow the news on Pakistan Organisation Pakistani journalist critical of the military wounded by gunfire June 2, 2021 Find out more Help by sharing this information News News to go further PakistanAsia – Pacific November 26, 2007 – Updated on January 20, 2016 Jang correspondant gunned down in Sindh province RSF_en Newslast_img read more

Win cinema tickets

first_imgAdvertisement Email Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Print Twitter Linkedin Previous articleCommunity choir out there to support Russell Watson in concert?Next articleUHL cancel outpatient appointments over #Ophelia Alan Jacques NewsLocal NewsWin cinema ticketsBy Alan Jacques – October 15, 2017 1455 TAGScinemacompetitionLego Ninjago MovielimerickOdeon CinemaOdeon Limerick WhatsAppcenter_img Limerick’s National Camogie League double header to be streamed live RELATED ARTICLESMORE FROM AUTHOR Limerick Ladies National Football League opener to be streamed live WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” ODEON Limerick is this week giving away one pair of tickets and two large combo meals for a film of your choice at their cinema at the Castletroy Shopping Centre.To be in with a chance, answer the following question and email your answer to [email protected] by 9am on Monday October 16.What popular toy features in the Ninjago Movie?Sign up for the weekly Limerick Post newsletter Sign Up A. MeccanoB. LegoC. Mega Bloks Facebook Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clashlast_img read more

The Skies Ahead

first_img Demand Propels Home Prices Upward 2 days ago About Author: David Wharton Previous: The 5 Most Competitive Markets Next: State of the Foreclosure Market Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Sign up for DS News Daily David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] The Best Markets For Residential Property Investors 2 days ago Share Save The Skies Ahead Home / Daily Dose / The Skies Ahead Data Provider Black Knight to Acquire Top of Mind 2 days ago December 12, 2018 1,654 Views Housing Market 2018-12-12 David Whartoncenter_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Servicing The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Housing Market “It’s an interesting and dynamic time in the industry, for a whole host of reasons,” said Brian O’Reilly, President and Managing Director of The Collingwood Group. “You have market volatility to the likes of which you haven’t seen in some time. Refinances have largely gone away. The distressed-servicing market is substantially smaller than what it was only a few short years ago. The business is in a period of real change.” Many Americans are also facing significant economic pressure as consumer debt levels continue to climb alongside interest rates. There is good news in the mix, however. “The silver lining for millions of Americans is that their homes continue to be a source of wealththat can help them strengthen their balance sheets,” said Mike Rawls, EVP of Servicing, Mr. Cooper. “However, we need to help homeowners become smarter about managing their balance sheet to avoid a repeat of the last down cycle.”Echoing the topic of DS News’ August cover story, “The Big Short,” Tendayi Kapfidze, Chief Economist, Lending Tree, said that 2018 was largely defined by the twin factors of decreasing affordability and insufficient housing inventory. Will that remain the case in 2019? “Affordability will remain a challenge as rates are likely to rise further and prices register more modest increases,” Kapfidze said. “Inventory has been improving, in part because affordability is weakening demand. Delinquencies are unlikely to increase as long as the labor market remainsrobust, which we expect to be the case. Low delinquencies will also be supported by home prices, which we expect to continue rising, though at a slower pace.”In early November, CoreLogic’s Home Price Index Report forecast that home-price growth was projected to slow 4.7 percent by September 2019. CoreLogic’s data also revealed that 40 percent of younger millennials said they wanted to purchase a home, but 73 percent cited affordability as a barrier to entry. Doug Duncan, SVP and Chief Economist,Fannie Mae, said that there could be some relief ahead in 2019. “One thing that you might notice retrospectively is that 2017 will be recognized as the year at which the pace of price appreciation in housing peaked,” Duncan said.TAXES AND TARIFFS, LEGISLATION, AND REGULATIONThe Trump administration passed its $1.4 trillion tax-reform bill in the final days of 2017. While true perspective on the long-term impact of that bill is likely still months or years down the line, it nevertheless contained severalprovisions that are already touching some corners of the market, including limits on property-tax deductions and tax-break stays for homesellers. “The changes to federal tax law haven’t resulted in a middle-class wave of homebuying activity,” said Rick Sharga, EVP, Carrington.Mortgage Holdings, LLC. “Anecdotally, it appears that the tax reform may have slowed down activity at the $1 million-plus level in high-cost/high-tax states. However, it’s hard to say exactly how much of the slowdown is due to the tax-law changes versus the lack of inventory and escalating prices and interest rates.”Kapfidze said that the clearest 2018 impact from the tax bill was with regard to the increase in interest rates and the sharp contraction in refinance originations. “The higher rates also lower affordability and thus demand, leading to the slowdown in home sales and loss in momentum in home prices,” Kapfidze said. “The bill increases the profitability on the bottom line but its negative effects on industry revenues are much greater, and the bill, in sum, has been detrimental in its first year.”The past year also brought the word “tariff” back into the mainstream in a way it hadn’t been for some time, with President Trump implementing trade tariffs—or threatening to do so—against numerous countries. While tariff saber-rattling continues between the U.S. and countries such as China, some of the already imposed tariffs have impacted housing to one degree or another.Kevin Brungardt, CEO, RoundPoint Mortgage Servicing Corporation, called the September tariffs “a double whammy on homebuilders” coming on the heels of earlier tariffs imposed on Canadian lumber.“The tariffs on raw goods act as a tax on both the homebuilder and homebuyer and that has the impact of further driving up home prices and discouraging builders from pursuing entry-level, affordable projects.”Brungardt said that, barring any change in policy, these issues should only be exacerbated in 2019, “when the Chinese tariffs (which the National Association of Homebuilders estimate includes at least $10 billion worth of housing related goods) increase from 20 percent to 25 percent.”Brungardt further points out that the industry doesn’t just have to worry about the immediate impact of the tariffs but also the potential blowback or retaliation from affected nations. He warned that a trade war could create “further instability at a time when mortgage volumes are down and companies are already facing a challenging road ahead in 2019.”Assuming trade tensions do escalate in 2019, Brungardt said to expect an uptick in mergers and acquisitions activity as companies see margins shrink.In May 2018, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act into law, with the bill designed to evolve and streamline regulations put in place by the 2010 Dodd-Frank Act. At the time, Sen. Mike Crapo (R-Idaho), Chairman of the Senate Banking Committee, said in a statement, “This step toward rightsizing regulation will allow local banks and credit unions to focus more on lending, in turn propelling economic growth and creating  jobs on Main Street and in our communities.”One of the primary changes was increasing the threshold for enhanced regulatory standards from $50 billion to $250 billion, a change designed to exempt some smaller and mid-sized banks from regulations that would still apply to the larger banking entities. The affected regulations pertain to capital and liquidity rules, risk-management standards, and stress-testing requirements, among other things. Unsurprisingly, there was a lot in the bill, but as with the tax bill, some elements of its larger impact on the industry will need to be evaluated from further down the road.During an interview earlier this year, Pam Perdue, EVP, Chief Regulatory Officer, Continuity, told DS News, “There are still many unanswered questions about how these rollbacks will work in practice.” “People have to modify their lending systems. They’ve got to modify the compliance-management systems inside their organizations. Whether those are manually done or done with technology, there’s a lot of work to do.”“If you throw a stone into a pond, the ripples don’t occur across the entire pond immediately— they move over time,” O’Reilly said. “That’s what’s happening in the regulatory arena. You have a change in mindset in the context of regulatory enforcement burdens, where the sentiment of the federal government seems to be less aggressive than has been the case under the previous administration. However, that is not translating yet into lesser regulatory costs.”“The law’s 50-odd mortgage-related provisions are a significant challenge for compliance teams to adjust to,” said RoundPoint’s Brungardt, “and some estimates show that average compliance costs nearly doubled between Q1 2018 and Q2 2018. We’ve seen some relief in Q3, and as companies adjust to the new reality, we hope to see some lasting improvement in the regulatory space, which will improve affordability.”INNOVATION AND PREPARATIONSeveral of the experts DS News spoke to suggested that this period of relative calm and stability is a perfect time for companies to innovate and prepare for any economic downturns that may eventually arrive.“Over the last few years, we’ve started to see more and more technologies introduced for home-loan originations, but innovation on the servicing side is still lacking,” Rawls said. He told DS News that servicers should work to ensure a better customer experience throughout every step of the homeownership journey.“Homeowners can benefit from more selfservice options and greater education to provide them with the information they need when they want it,” Rawls continued. “For our industry to be successful, we need to meet customers where they want to be met, whether it’s on the web or their mobile device, over the phone, or even face-toface through a web call.”“The biggest changes occurring in the mortgage industry are taking place in the technology space, with scores of new startups and entrepreneurs attacking many long-standing challenges,” Brungardt said. That being the case, what will the industry look like a decade down the road, and how should companies be working to build and prepare for that future now?“The customer will be in the driver’s seat in a way we’ve never been before,” Brungardt said. “This will mean more transparent access to every step of the mortgage process and a clear understanding of the timeline from application to close.”Brungardt anticipates this will mean a significant decrease in how long it takes to originate a loan, possibly shrinking the timeline from weeks or months to days or even hours. Brungardt predicts that the servicing side will also see dramatic improvements and optimizations thanks to advanced analytics and data to better anticipate and assist troubled borrowers in avoiding default or foreclosure.“Lenders/servicers need to be investing in technology now,” Brungardt said, “even though budgets are tight, to ensure they are ready for the next upswing in the market cycle.”O’Reilly spotlights the GSEs, Fannie Mae and Freddie Mac, as leading examples of how to approach innovation in this era. “The GSEs are doing a great job at increasing their focus on developing tools and solutions that will help improve the customer experience and mitigate risks.”O’Reilly, who served as Director, Automated Underwriting Product and Risk Management Solutions at Fannie Mae from 2002–2007, said that the culture at the GSEs had changed significantly since that time, especially when it comes to their approach to innovation.“The GSEs during that period were criticized—and to some degree, rightly so—for what has been characterized as a ‘take-it-or-leave-it’ approach to innovation,” O’Reilly said. “They would deliver a solution to the marketplace, but there was very little collaboration with the industry during the process of the development of that innovation.”O’Reilly says that the GSEs’ mindset has shifted significantly in recent years. “Both Fannie and Freddie are engaged in a strongly collaborative environment, and you’re seeing the benefits of that. When we talk to our clients—both large banks and nonbanks—they tell us it’s night and day in terms of the level of collaboration and this notion of test and learn and fail quickly. Fannie and Freddie are working to undertake large initiatives in bite-size chunks,” he said.That, O’Reilly said, is a lesson every servicer can take to heart and put into action. “As the rules of the road have become more well defined, we can start investing more in upgrades to the customer experience,” Rawls said. “The mortgage process can be complicated and intimidating, and now is the time to think of new ways to approach customer pain points and give them better tools, technology, and products for a more seamless, simpler experience.”GETTING YOUR BEARINGS FOR 2019A session conducted during the National Association of Realtors’ 2018 Realtors Conference & Expo suggested that the five most critical issues facing the industry in 2019 included: 1) interest rates and the economy, 2) politics and political uncertainty, 3) housing affordability, 4) generational change/ demographics, and 5) e-commerce and logistics.“Mortgage is cyclical,” said Beth Northrop-Day, VP and Assistant General Counsel, US Bank. “We’re in a phase right now where companies are still originating, homebuying is occurring, and people are successfully paying their mortgages—all fantastic things. If I were to hazard a guess, I suspect that by mid to late 2019, or perhaps early 2020, we’ll start to see some changes. As an industry, we’ve made so many incredible changes—we are proactive and are working hand-in-hand with borrowers, investors, and regulators.”Looking back at the industry’s past decade of crisis and recovery, Kim Greaves, EVP, Citizens Bank, told DS News, that most of the “bad players” who precipitated that crises are no longer in the mix, and the industry as a whole is much better prepared for any future downturns than they were before the last one. “However, we will never take our eye off collections, loss mitigation, and default,” Greaves said. ”That must always remain a strong core competency.”Scott Brinkley, CEO, a360, Inc., said, “Interest rates are rising, and consumer debts are at an all-time high. On the other side of the coin, the economy overall is very healthy. Employment is low. Home-price values are appreciating year-over-year. We have some conflicting data points, but we think that 2018 is going to be a bottoming year for delinquencies.”If delinquencies do take an upward turn in 2019, however, what would that look like assuming there is no larger precipitating event such as another housing bubble or financial crisis?“We don’t anticipate anything broad-based,” Brinkley said. “It will all be tied to some major microeconomic event like a recession. Unless that happens, you will not see any material uptake in volume, but you will see a natural increase in delinquencies because the housing market is growing.”Sharga said that “the consensus among most economists is that the U.S. is likely to enter a mild recession in late 2019 or early 2020. If that’s the case, we’d be likely to see an increase in delinquency rates about six months after the recession starts, and foreclosure activity nine to 12 months later.”Even though he doesn’t see a recession in the near future, Fannie Mae’s Doug Duncan suggests an economic slowdown is coming.“We expect economic growth to slow in 2019, and we expect that the Fed will tighten at least a couple of times during 2019,” Duncan said. “Interest rates are unlikely to fall but, depending on the pace to which the economy slows, the Fed may or may not achieve its current dot plot, which suggests four increases next year.”Duncan added that Fannie Mae is forecasting only two interest-rate hikes in 2019, owing to an anticipated economic slowdown.The results of the midterm elections will also help shape the industry’s path going forward, but O’Reilly cautioned that even if Republicans are able to continue advancing an agenda that focuseson streamlining and scaling back regulations, the industry might still encounter unexpected complications—a case of “be careful what you wish for.”If the federal government continues to scale back on the regulatory front but the states begin to move in the opposite direction, O’Reilly warned that “instead of one regulator with a heavy hand, you could have many, all applying rules in different ways, which would then cause risk-management and compliance costs to skyrocket.”As for where home prices are headed in 2019, Duncan says that you can already see some of the trendlines forming. “In every market, the high-end component has seen increased inventory, longer days on the market for existing homes, and slowdowns in prices. In some of those markets, you may see declines in prices if the rate rises increase, and in some cases, because of the high cost of housing, some businesses are moving jobs out of those markets.”Duncan added that some of these markets are also beginning to feel the bite of limitations on the deductibility of state and local taxes. In some markets, this could lead to price declines.On the lower end of those markets, however, demand and price appreciation remain strong, so average price appreciation across all the markets is expected to remain positive nationally for the next few years.“Then, depending on what happens with the economic activity and the Fed tightening, that pace of price appreciation may go negative in 2021 or 2022,” Duncan said. “However, there’s a lot of things that could happen between now and then.”“The slowdown in housing, and particularly home prices, is the best thing that could have happened, and hopefully it continues in 2019,” Kapfidze said. “When we look at previous housing cycles, continued acceleration in home sales and prices would have to come at the cost of increasing leverage—this is how we got in trouble before.”“For 2019, servicers should continue to refine their organizations, controls, cost structures, and management and staff structures,” Greaves said. “We believe the trend of consolidation will continue, with some smaller companies going out of business, more servicing on the market, and real opportunities for the players that are positioned correctly. The companies that will benefit will be the ones that have their houses in order.” Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

FHFA Extends Foreclosure and Eviction Moratorium

first_img“FHFA will continue to monitor the coronavirus situation and update policies as needed,” the agency said in a release. “To understand the protections and assistance the government is offering people having trouble paying their mortgage, please visit the joint Department of Housing and Urban Development, FHFA, and the Consumer Financial Protection Bureau website at​.​” The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save in Daily Dose, Featured, Government, Market Studies, News Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Foreclosure moratorium Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: DS5: Optimism in Mortgage Servicing Next: Calm Before the Storm: Q1 Delinquency Less than 4% About Author: Seth Welborn FHFA Extends Foreclosure and Eviction Moratorium Foreclosure moratorium 2020-06-17 Seth Welborn Subscribe The Best Markets For Residential Property Investors 2 days ago  Print This Post Today, to help borrowers and renters who are at risk of losing their home due to the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend their single-family moratorium on foreclosures and evictions until at least August 31, 2020. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The current moratorium was set to expire on June 30.”To protect borrowers and renters during the pandemic we are extending the Enterprises’ foreclosure and eviction moratorium. During this national health emergency no one should worry about losing their home,” said Director Mark Calabria.The Agency announced earlier this month that it is extending several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac (the Enterprises) designed to help borrowers during the COVID-19 national emergency, including the authority to purchase mortgages in forbearance, until at least July 31. Other flexibilities that have been extended include:Alternative appraisals on purchase and rate term refinance loansAlternative methods for verifying employment before loan closingExpanding the use of power of attorney and remote online notarizations to assist with loan closingsThe FHFA previously announced that Fannie Mae and Freddie Mac would be able to buy loans in forbearance, with note dates on or before June 30, as long as they are delivered by August 31 and have missed just one mortgage payment. Additionally, the agency will be re-proposing the updated minimum financial eligibility requirements for the Enterprises.“FHFA has determined that it is prudent to work with the Enterprises to reassess and re-propose these requirements, including incorporating lessons learned from the evolving COVID-19 national emergency,” the Agency said in a release. Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHFA Extends Foreclosure and Eviction Moratorium June 17, 2020 3,811 Views Sign up for DS News Daily Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more