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Strike forces Turkish Airlines to cancel flights

first_img Think Tank analyzes the second round of Democratic debates Sponsored Stories Top ways to honor our heroes on Veterans Day 5 ways to recognize low testosterone Meghan McCain to release audiobook on conservatism, family Comments   Share   The difference between men and women when it comes to paincenter_img New high school in Mesa lets students pick career paths An aviation workers union says the proposed legislation violates international labor laws and is unconstitutional.The protest is expected to end on midnight Tuesday.(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) Top Stories ISTANBUL (AP) – A strike and work slowdown at Istanbul’s main airport has forced Turkish Airlines to cancel more than 100 flights.Ground handlers, technicians and other workers are protesting a government-proposed legislation that would ban future strike actions by aviation workers.Binali Yildirim, the country’s transport minister, says Turkish Airlines was forced to cancel 104 domestic or international flights on Tuesday while several other flights have been delayed. Private HaberTurk television is reporting long lines and chaos at Istanbul’s Ataturk International Airport. More Valley freeways to be closed this weekend for improvementslast_img read more

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Irans parliament to grill Ahmadinejad on currency

first_img How do cataracts affect your vision? The vital role family plays in society Check your body, save your life Mary Coyle ice cream to reopen in central Phoenix (Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) Construction begins on Chandler hospital expansion project The Iranian rial has plummeted in value against hard currencies over the past year, with the slide accelerating over the past month. Iranian politicians blame the drop on Western-led sanctions targeting the country’s suspect nuclear program but also on alleged mismanagement by the government of Ahmadinejad, who has fallen out with conservatives who once backed him.On Saturday the rial traded at 31,000 rials to the dollar. It was about 11,000 in mid-2011. In early October it jumped to more than 36,000 rials from around 27,000 over a week.Signatories said the summons of the president came after Central Bank Governor Mahmoud Bahmani refused to appear in the parliament to answer their questions on the market.They said the government allowed the importing of more than 15,700 cars using a system for traders to obtain hard currency at low rates that is supposed to be only for foods and medicine. They also said the government did not buy domestic wheat and imported about $2.5 billion of wheat from abroad.This is one of many rifts between Ahmadinejad and his conservative rivals ahead of the June presidential election.In March the parliament grilled Ahmadinejad over alleged mismanagement of the nation’s economy as well as his perceived defiance of Supreme Leader Ayatollah Ali Khamenei over the president’s dismissal of an intelligence minister in May 2011. The minister was reinstated later at Khamenei’s instructions. Sponsored Stories Top Stories Former Arizona Rep. Don Shooter shows health improvement Bottoms up! Enjoy a cold one for International Beer Day TEHRAN, Iran (AP) – Iran’s parliament is planning to summon President Mahmoud Ahmadinejad to be questioned over the country’s plummeting currency, state radio reported Sunday. It will be the second grilling of the increasingly embattled leader in less than a year.The report said that 77 lawmakers signed a petition on Saturday claiming that Ahmadinejad’s administration has been reluctant to regulate the currency market. By law the president has one month to answer the summons. Comments   Share   last_img read more

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Small boats banned off Puerto Vallarta because of hurricane

first_img New Valley school lets students pick career-path academies Here’s how to repair and patch damaged drywall Top Stories MEXICO CITY (AP) — Authorities closed the waters off the popular beach destination of Puerto Vallarta to small boats Tuesday as a weakening Hurricane Carlos continued to skirt up Mexico’s southwestern coastline.At least one cruise ship, the Carnival Miracle, canceled a port call planned for Wednesday in Puerto Vallarta, port official Odilon Garcia Castillon said by phone from the Pacific Coast city.With safety alerts in effect, were “continuing to monitor the situation,” Castillon said. Comments   Share   Sponsored Stories Milstead says best way to stop wrong-way incidents is driving sober Ex-FBI agent details raid on Phoenix body donation facilitycenter_img Two men paddle on a small boat towards a yatch that was damaged by winds and rains from hurricane Carlos in the Pacific resort city of Acapulco, Mexico, Sunday, June 14, 2015. Tropical Storm Carlos churned up strong winds and waves Sunday while threatening to regain strength as it trudged up Mexico’s Pacific coast. (AP Photo/Bernandino Hernandez) Carlos weakened during the night, with its maximum sustained winds down to 75 mph (120 kph) by late Tuesday, just above the threshold for a Category 1 hurricane, the U.S. National Hurricane Center said.The storm was centered about 55 miles (90 kilometers) south-southwest of Manzanillo. It was moving northwest about 5 mph (7 kph) past a stretch of coast that is mostly lightly populated, with the exception of Manzanillo, a port city of about 100,000 inhabitants.Carlos was forecast to weaken substantially over the next 48 hours and likely become a tropical storm as it moved closer to Puerto Vallarta.Education authorities in Jalisco state, where Puerto Vallarta is, announced that schools would close in a half dozen towns.Over the weekend, high surf kicked up by Carlos swamped some boats and washed away small palm-frond beach huts in Acapulco, while strong winds knocked down trees and billboards. No major damage or deaths were reported.Rain accumulations of 3 to 6 inches (8 to 15 centimeters) were possible in areas near the storm, with a chance for up to 10 inches (25 centimeters) in isolated spots, the Hurricane Center said.A tropical storm warning was in effect from Punta San Telmo to Cabo Corrientes. A hurricane watch was posted from Punta San Telmo to Playa Perula. Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Patients with chronic pain give advice Check your body, save your life 4 must play golf courses in Arizonalast_img read more

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Family fails to get Tibetan lamas body after prison death

first_img Clean energy: Why it matters for Arizona Here’s how to repair and patch damaged drywall New Valley school lets students pick career-path academies Ex-FBI agent details raid on Phoenix body donation facility BEIJING (AP) — Chinese authorities have refused to release the body of a Tibetan lama who died in a Chinese prison, prompting a sit-in outside the prison by more than 100 Tibetans, a pro-Tibet rights group said Wednesday.The family was informed Sunday that Tenzin Delek Rinpoche, 65, died 13 years into a life sentence on charges of financing and supporting a series of terrorist bombings and secession activities. His supporters say the charges were trumped up to persecute the man. Four benefits of having a wireless security system 5 greatest Kentucky Derby finishes Authorities never responded to the request.In Washington, members of the House of Representatives also demanded Chinese authorities return the lama’s body to his family members for a funeral.At a hearing on Tibet by the Tom Lantos Human Rights Commission on Tuesday, movie actor Richard Gere, a longstanding advocate for Tibetan freedom, called the monk “one of the good men of the community” who found commonality between Tibetans and Chinese.Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.center_img Comments   Share   Sponsored Stories Mesa family survives lightning strike to home The prison has not produced the lama’s body after two days of negotiations between the police and the monk’s immediate family, the New York-based Students for a Free Tibet said Wednesday in a statement. The family wants to perform Tibetan Buddhist funeral rites on the body.“Our only request is to have his body,” said Dolkar, the monk’s sister, who was in Dazhu county in southwestern Sichuan province, which borders the Tibetan region. Like many Tibetans, she goes by one name.She said the family also was denied the access to see the lama’s remains, his death certificate and medical records.Calls to the prison were unanswered Wednesday.Tenzin Delek was arrested in 2002 in connection with a blast in Chengdu city that wounded three people.Human rights groups have long said the lama was persecuted by the Chinese and arrested on false charges because he advocated for Tibetan rights. His suspended death sentence was later commuted to life in prison. He continued to maintain his innocence.Students for a Free Tibet expressed concern that the group outside the prison could themselves face danger.Last year, the monk’s family had applied for medical parole for him on the grounds that he suffered from a heart condition, high blood pressure, dizzy spells and problems with his legs that had caused him to fall down frequently. American actor and activist Richard Gere, with Matteo Mecacci, president of International Campaign for Tibet, left, holds a photo of Tulku Tenzin Delek Rinpoche, one of the most respected and revered Tibetan lamas, who passed away in custody in a Chinese prison on July 12, during a hearing on Tibet with the Tom Lantos Human Rights Commission, Tuesday, July 14, 2015, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta) Top Stories last_img read more

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Australian dollar rises against weak greenback

first_imgThe Australian dollar has continued to perform remarkably well against the greenback, surging through the 95-US-cent mark in overnight trading. The latest rise saw the dollar reach 95.64 US cents overnight – its highest level in two years – it then dropped slightly back to 95.53 US cents by 7am (AEST).Since May, the Australian dollar has managed to rise an impressive 17.2 per cent, mainly due to the strong domestic economy, relatively higher local interest rates and a weak US dollar.  While a stronger Australian dollar will make overseas travel and imports cheaper it could also make holidays in Australia more expensive, which would have a negative impact on the travel industry.  Due to this strong performance, there has now been speculation that the Australian dollar may reach parity with the US dollar, something that hasn’t occurred since it was floated in 1983. The Australian dollars peak since the currency was floated was in July 2008 before the global financial crisis, when it reached 98.5 US cents.Bloomberg has revealed data which indicated that the dollar is 27 per cent too expensive, with predictions it could drop 6 per cent by the end of 2010. Source = e-Travel Blackboard: C.Flast_img read more

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Wotif unveils top 20 Australian destinations

first_imgOnline travel company Wotif.com has revealed the 20 most popular domestic destinations booked by Australian travellers on their website in 2010. Sydney and Melbourne remained first and second respectively, while the Gold Coast moved up one place, pipping neighbours Brisbane to third place. “We’ve monitored these top destinations for a number of years now and each year, we tend to see the larger capital cities leading the top destinations list,” Wotif brands general manager Megan Magill said. By far the biggest mover was newcomer Port Douglas, up from 27th position to 15th. “It’s great to see the regional areas creep up there in the 2010 list, such as the Gold Coast, Sunshine Coast and the inclusion this year of Port Douglas and Airlie Beach,” Ms Magill said. Queensland was best represented on the list with a total of eight destinations, followed by New South Wales with five. Wotif.com’s Top 20 destinations list takes into account more than 250,000 bookings made on its website each month by business and leisure travellers. Sydney Opera House Source = e-Travel Blackboard: M.Hlast_img read more

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Air NZ targets Aussie Sceptics

first_imgSource = e-Travel Blackboard: N.J Using skepticism in its favour, Air New Zealand has launched a new campaign that focuses on transforming the opinion of four Aussie who say they would never travel to New Zealand.Hoping to change the mind of the Australia public the carrier has recruited of a hipster, princess, Europhile and a true-blue Aussie to star in a series of reality-style web-episodes called The Kiwi Sceptics.Each video shows the four Aussies taken on a tour of New Zealand given by a local Kiwi guide.Featured in the videos includes staying at the Otahuna Lodge in Christchurch, partying at the Rhythm and Vines festival as well as hanging at the Mighty Might bar in Wellington. “We all know that New Zealand is one of the best places on earth but for one reason or another, there are many Aussies who don’t see the same fresh and progressive side of New Zealand that we do,” Air New Zealand marketing manager Australia Kelly Millier said.  “We figured if we could change the minds of those most sceptical, we should be able to convince those who are sitting on the fence.”Australia is New Zealand’s largest inbound market and according to research up to 5.3 million Aussies consider travelling over the ditch but only one in five take it each year. last_img read more

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IHG strengthens Australasia leadership team

first_imgInterContinental Hotels Group (IHG) has appointed Ruwan Peiris as Regional General Manager for New South Wales, the Australian Capital Territory (ACT) and Victoria.In his role, Mr Peiris is responsible for the management of thirteen IHG hotels, the National Convention Centre Canberra and Parliament House Catering by IHG.Mr Peiris joins IHG with over 20 years of experience in Australia’s hospitality industry, and most recently Area General Manager with Accor Hotels.IHG chief operating officer Australia Japan and Korea Karin Sheppard, said Ruwan has a strong reputation in the industry.“Ruwan is an engaging and authentic leader who delivers outstanding operational performance and prides himself on developing strong owner relationships. We’re thrilled Ruwan is joining our Australasia team,” Ms Sheppard said.“IHG has had a consistently strong presence in Australia over the years and I’ve always admired their culture and people ethos, so I’m delighted to be joining the company,” Mr Peiris said.“With an even stronger leadership team under Karin in her new COO role, and the renewed focus on delivering growth here, the company is well positioned to capitalise on the opportunities in this market.”Mr Peiris will sit on the IHG Australasia leadership team, alongside Joerg Boeckeler, Area General Manager for InterContinental Sydney and InterContinental Sanctuary Cove Resort.Source = ETB Travel News: Lewis Wisemanlast_img read more

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Malaysia Airlines and Emirates expand partnership

first_imgMalaysia Airlines and Emirates today announced a new partnership that will give their customers a seamless international network connecting Malaysia to more than 90 destinations on the Emirates network across Europe, Middle East, Africa and the Americas, exclusive frequent flyer benefits and world-class travel experiences.Expanded global reach for both Emirates and Malaysia Airlines customersUnder the agreement signed by Emirates’ President Sir Tim Clark and Malaysia Airlines’ Chief Executive Officer Christoph Mueller, Malaysia Airlines will add its code on flights of Emirates to Europe, Middle East, Africa and the Americas.In return, Emirates will add its code on flights of Malaysia Airlines to domestic routes in Malaysia, South East Asia and selective cities across the Asia Pacific region. The codeshare will be implemented progressively throughout 2016 subject to regulatory approvals.With the Emirates partnership, Malaysia Airlines’ customers will have access to 38 European, 15 Americas and 38 destinations in the Middle East and Africa and Indian Ocean, whilst Emirates’ customers will have access to Malaysia Airlines’ extensive Asia Pacific network with up to 300 daily departures in the region. Sales under this codeshare agreement will commence from February 1 2016.Enhanced Benefits for CustomersMalaysia Airlines’ Chief Executive Officer Christoph Mueller said: “The strategic partnership paves the path towards an integrated customer proposition offering for both airlines.The improved connectivity will enable Malaysia Airlines customers to reach up to 38 destinations in Europe on a daily and even double daily basis for key European cities such as Zurich, Rome, Munich, Frankfurt, Madrid, and Barcelona.This partnership gives our customers access to a dramatically expanded range of travel options. It is a great way for customers to travel seamlessly to major cities across the world. Furthermore, Dubai is a tourism, trade and logistics hub which has earned itself the reputation as being the gateway between the East and the West.Not only will this provide Malaysians unprecedented super-connectivity to the whole world, it will also make it much easier for travellers from all corners of the globe to visit Malaysia and experience its rich culture, nature and Malaysian hospitality. This is part of the national carrier’s initiative towards enhancing air connectivity with key priority markets overseas for increased tourist arrivals into Malaysia.”“Our new codeshare agreement with Malaysia Airlines will enable our passengers to experience new destinations and improved connectivity in the ever-popular Southeast Asia region, and also additional comforts such as reciprocal lounge access and priority check-in,” said Sir Tim Clark, President Emirates.“Malaysia Airlines’ extensive network in the emerging Southeast Asia region perfectly complements Emirates’ global network and enhances the choice of travel destinations for customers in both the business and leisure segment.” Fly Malaysia Airlines Fly Emirates Source = Malaysia Airlineslast_img read more

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Accolade Received Fourth Year Running

first_imgSource = Star Alliance Accolade Received Fourth Year Running Star Alliance Voted Best Airline Alliance at SkytraxLOS ANGELES, USA – July 19th, 2017 – The Star Alliance Lounge at Los Angeles International Airport was voted best Alliance Lounge at the Skytrax World Airline Awards for the fourth year in a row.“We are honoured that our customers have once again bestowed this prestigious accolade on our Los Angeles Lounge. It is testimony to the fact that our customers have confidence in our Alliance lounge product and I would like to thank them for their continued loyalty”, said Jeffrey Goh, CEO Star Alliance.Handing over the award to the Los Angeles Lounge team he continued: “A special thank you also goes to the entire team running the Los Angeles Lounge. There is no doubt in my mind that your professionalism and customer service mindedness strongly contributed to Star Alliance retaining the award once again”.The award winning Los Angeles lounge is located in the Tom Bradley International Terminal at LAX and was developed and is managed by member carrier Air New Zealand, on behalf of Star Alliance.“Receiving this accolade for the fourth year in a row shows the lounge is clearly meeting the needs of customers. Air New Zealand is extremely proud to have designed this space and to be delivering a world-class lounge experience to eligible Star Alliance customers every day,” says Air New Zealand General Manager Customer Experience Anita Hawthorne.The Lounge accommodates up to 400 Business Class and Star Alliance Gold passengers and has an additional exclusive area for First Class passengers. Different experience zones accommodate the various passenger needs, ranging from social gatherings to quiet time away from home. The lounge offers a bar area for socialising, a library space, a den, a study and a media room. Guests can enjoy a cocktail at the bar, a well-appointed buffet and noodle bar as well as an a la carte dining option in the First Class section. From time to time, the lounge also features special culinary events, creating a more entertaining dining experience. Guests wishing to work can do so from the location of their choice, making use of the high-speed wi-fi, along with the printing, fax and copy services which are available on request. In addition to traditional power outlets, customers can also make use of USB power ports to recharge their mobile devices. Passengers wishing to freshen up before their flight can do so in one of eight shower suites. The highlight is without doubt the unique open air terrace which offers panoramic views of the northern runway towards Hollywood Hills. This space provides passengers with an unparalleled sensory experience, complete with fire pits and a water wall.In addition to the Star Alliance branded lounge at LAX, member carriersAir Canada and United provide lounges in Terminals 6 and 7 respectively.“With lounge access continually rated as a key alliance benefit by our customers, Star Alliance will continue to invest in its lounge product. Our seventh branded lounge was recently opened in Rome, with the lounges in Paris and Nagoya set to be renovated in the near future, and our eighth branded lounge to be opened in Amsterdam in early 2019”, commented Goh.Star Alliance First and Business Class passengers as well as Star Alliance Gold Card holders currently have access to more than 1,000 lounges across the Alliance’s global airline network. In addition to airlines’ own lounges and those operated by third parties, Star Alliance offers seven branded lounges. Besides LAX, these are located in Buenos Aires (EZE), Nagoya (NGO), Paris (CDG), Rio de Janeiro (GIG), Rome (FCO) and São Paulo (GRU).The Star Alliance branded lounges can also be explored virtually on www.staralliance.com/lounges which allows users to “visit” the lounges in the digital world. Take a virtual walk through the award-winning lounge.About Star AllianceThe Star Alliance network was established in 1997 as the first truly global airline alliance to offer worldwide reach, recognition and seamless service to the international traveller. Its acceptance by the market has been recognized by numerous awards, including the Air Transport World Market Leadership Award and Best Airline Alliance by both Business Traveller Magazine and Skytrax. The member airlines are: Adria Airways, Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand, ANA, Asiana Airlines, Austrian, Avianca, Avianca Brasil, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, LOT Polish Airlines, Lufthansa, Scandinavian Airlines, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, and United. Overall, the Star Alliance network currently offers more than 18,800 daily flights to 1,317 airports in 193 countries. Further connecting flights are offered by Star Alliance Connecting Partner, Juneyao Airlines.last_img read more

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Virgin America launches the Google Street View campaign

first_imgVirgin America has launched an interactive brand campaign that allows travellers to test drive their flight before they take off via Google Street View. Travellers can experience a 360-degree, interactive tour onboard the Virgin America aircraft. The unique ‘Seat View’ campaign includes the integration of actual Google Street View tours of the airline’s Airbus A320 cabin into interactive outdoor and immersive digital experiences, along with traditional Out of Home (OOH) content and online display support.The Google Street View tours can also be experienced at www.virginamerica.com/seatview or by heading to Google Maps and searching for ‘Virgin America’ and the departing airport.“Thanks to our friends at Google, travellers can now check us out in an entirely new way,” said Virgin America Vice President of Brand and Communications Abby Lunardini. Developed with the airline’s creative agency, Eleven Inc, the Google Street View campaign will include OOH billboards, digital banners, and interactive bus shelters where users can interact with the Google Street View experience on a large-panel touch screen.“People have increasingly come to rely on Google Maps and Google Street View to explore their world – and we’re pleased to help travellers better understand their travel options,” said Deanna Yick, Street View Program Manager at Google Maps.last_img read more

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Generation Z dominating adventure tourism market in India Satyajeet Rajan

first_imgThe adventure tourism sector is growing at a staggering rate of over 40% year on year globally and the Indian market is driving 30% of its adventure tourism revenue from inbound tourists. As per statistics shared by Satyajeet Rajan, Director General, Ministry of Tourism, the average age of Indian travellers in this segment remains 36 years, with 48% of them travelling solo. The Online Travel Agents (OTAs) are also grabbing eyeballs as 69% are referring online for adventure travel. Only 25% are visiting offline and 17% finally booking the trip.Going forward, the Generation Z (born between the mid-1990s to mid-2000s) will force the adventure tour specialists to grow and innovate further and design itineraries in sync with rising demand from this target audience, he highlighted on the sidelines of the National Seminar on ‘Unveiling Opportunities in Adventure Tourism’ in New Delhi.The event was organised by the Confederation of Indian Industry (CII), in support of the Ministry of Tourism.He asserted that states need to lay down operational guidelines for adventure tour operators and should facilitate design and start-up related courses to fill the gap for certified personnel.last_img read more

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Army Veteran Gets New Home Courtesy of GMAC

first_img Share January 4, 2012 416 Views Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2012-01-04 Abby Gregory One Army veteran is enjoying a happy start to 2012, thanks to an important gift bestowed by “”GMAC Mortgage, LLC””:www.gmacmortgage.com/.[IMAGE]The company recently donated a newly renovated home to a First Sergeant who was wounded overseas while serving the country in 2005.[COLUMN_BREAK]GMAC confirmed that the recipient of the property is 1st Sgt. Peter Lara, and the company explained that the home given to Lara underwent extensive rehabilitation prior to being donated. Lara’s future residence was updated with new flooring and appliances, and GMAC also put in a garden to enhance the property. To create the best possible real estate option for Lara, GMAC collaborated with the “”Military Warriors Support Foundation””:militarywarriors.org/ in its efforts; the organization, which is based in San Antonio, Texas, is a non-profit company that targets better employment, health care, education, and housing for United States veterans.Joe Pensabene, GMAC’s chief servicing officer, said of the project, “”GMAC Mortgage is proud to support the men and women who serve our country. With guidance from the Military Warriors Support Foundation, we’re honored to provide lst Sgt. Lara with a home.””Pennsylvania-based GMAC is an indirect, wholly owned subsidiary of “”Ally Financial Inc.””:www.ally.com/ The home finance company originates and services mortgages around the country.center_img in Data, Government, Origination, Secondary Market, Servicing, Technology Army Veteran Gets New Home Courtesy of GMAClast_img read more

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New Year Statistics Predictions from MGIC

first_img in Data, Government, Origination, Secondary Market, Servicing, Technology New Year Statistics, Predictions from MGIC February 13, 2012 409 Views “”Mortgage Guaranty Insurance Corp.””:www.mgic.com/ has released its January statistics, as well as the company’s projections for the year ahead. MGIC reported an estimated $1.3 billion in new insurance contracts for the month, and the company is predicting a minimal rise in contracts for 2012.[IMAGE]Numbers from the fourth-quarter of 2011 show that MGIC handled around $4.2 billion in new contracts, and the company’s new insurance total for the year was $14.2 billion. Data from 2011 shows a solid increase over 2010 findings, with MGIC reporting only $12.3 billion in new contracts for 2010. MGIC stated that it anticipates a slight uptick over 2011 statistics for this year.Delinquent loans were on the decline to start the year, and MGIC noted that its delinquent inventory fell to 174,418 loans to end January, versus 175,839 at the beginning of the month. MGIC’s notices for new delinquencies stood at 13,700 for January, but loan cures, paid loans, and recessions and denials totals served to offset the tally.The company’s recent statistics are in line with fourth-quarter analysis from last year, during which falling delinquencies were reported. However, MGIC’s financial picture wasn’t entirely rosy to conclude 2011, with previous mortgage defaults hitting the company’s bottom line.In Wisconsin, MGIC is also starting 2012 with a new deal in collaboration with “”Fannie Mae””:www.fanniemae.com/, “”Freddie Mac””:www.freddiemac.com/, and the state’s “”Office of the Commissioner of Insurance””:oci.wi.gov/. Through the transaction, MGIC will be able to continue initiating new business without adhering to specific capital rules mandated by state authorities and the GSEs.Minnesota-based MGIC closed 2011 with a $135.3 million loss, which is an improvement over the $186.7 million drop the company recorded at the end of 2010. It’s also worth nothing that MGIC showed $172.9 billion in primary mortgage insurance on 1.1 million loans when December numbers were released.center_img Share Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2012-02-13 Abby Gregorylast_img read more

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New American Funding Receives Industry Honor

first_img Share New American Funding Receives Industry Honor “”New American Funding””:http://www.newamericanfunding.com/ has a reason to celebrate the end of summer thanks to a recent honor bestowed on the company by _Top_ _Agent_ _Magazine_. The publication named New American’s managing director, Patty Arvielo, to its annual roster of Top California Mortgage Vendors.After nearly three decades in the mortgage industry, Arvielo and her husband founded New American in 2003. In her leadership role for the company, Arvielo is responsible for managing New American’s operations, sales, and 550-plus employees in seven branches across the U.S.Additionally, Arvielo continues to perform as a thriving originator, generating between $3 and $5 million in home loans on a monthly basis. Arvielo is also a member of the “”National Association of Hispanic Real Estate Professionals””:http://www.nahrep.org/, and she serves on the “”Mortgage Bankers Association’s””:www.mbaa.org/ risk management committee.[COLUMN_BREAK]””Our business is volatile, and this keeps me in touch with the street. We have 250 loan officers, and at any given moment, I know exactly how they feel,”” noted Arvielo in a recent release from New American.[IMAGE] August 8, 2012 423 Views center_img Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2012-08-08 Abby Gregory in Data, Government, Origination, Secondary Market, Servicing, Technologylast_img read more

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Opus CMC Recruits Director of Securitization

first_img Movers & Shakers Opus CMC RMBS 2015-02-02 Tory Barringer February 2, 2015 420 Views in Headlines, News Opus Capital Markets Consultants, LLC (Opus CMC), has added to its due diligence expertise with the appointment of longtime mortgage veteran William Shuey as director of securitization.Shuey has worked in the mortgage industry for more than 30 years, servicing prominent Wall Street firms and banking institutions in the areas of due diligence and the secondary market. Prior to joining Opus CMC, he was due diligence manager at Accenture. He has also held management positions at Goldman Sachs and was VP at Hudson Advisors.”[Bill] not only brings an impressive background in mortgage finance and due diligence, he also has a comprehensive vision that will capitalize on Opus’ expert teams, technology solutions and partnerships,” said Jennifer Labud, COO for Opus CMC.In his new role, Shuey will be responsible for operational oversight of securitization processes, focusing on assuring the delivery of high-quality, compliant solutions to the residential mortgage-backed securities (RMBS) market.In a release, Opus CMC said Shuey’s appointment underscores “the importance of compliance in the new securitization market.””As the secondary market continues to grow and investors expand their risk tolerance, our key focus is to ensure our clients have accurate transactional and compliance information to make strategic and profitable decisions. Bill’s leadership will help guide this vision forward,” said Joe Andrea, chief sales officer at Opus CMC. “His extensive knowledge and background in mortgage, regulatory compliance and the securitization process will add value to our already experienced due diligence teams.”center_img Share Opus CMC Recruits Director of Securitizationlast_img read more

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Senators Budget Amendment Targets Reckless CFPB

first_imgSenator’s Budget Amendment Targets ‘Reckless’ CFPB in Daily Dose, Featured, Government CFPB David Perdue U.S. Senate 2015-03-24 Samantha Guzman A Georgia senator has introduced amendments to the Senate’s 2015 Budget Resolution regarding what he calls the “reckless” Consumer Financial Protection Bureau (CFPB). United States Sen. David Perdue (R-Georgia) said in a press release, the budget amendments would “provide critical congressional oversight” towards the CFPB, which he claims is a rouge agency.“The reckless Consumer Financial Protection Bureau was spawned from the disastrous Dodd-Frank financial regulation law,” Perdue said. “Right now, the CFPB is a rogue agency that dishes out malicious financial policy and creates new rules and regulations without any oversight from Congress. On top of that, the agency itself has failed to operate within its own budget and proven it is more concerned with preserving its own power than protecting the public. Ultimately, I believe the CFPB should be dismantled, but an important first step is bringing it into the light for the American people to see its harmful effects on consumers.”The senator’s proposed budget amendment will make the CFPB subject to congressional appropriations process because currently the CFPB operates under the Fed, not Congress. The amendment stressed for more congressional oversight given the CFPB receives roughly $600 million of the Fed’s annual operating expenses.Perdue isn’t the first one to suggest major changes to the CFPB. Earlier this month  U.S. Representative Randy Neugebauer introduced legislation that would replace the director of the CFPB with a bipartisan five member commission. His proposed bill would also change the name of the CFPB to the Financial Product Safety Commission and steer the organization away from Federal Reserve funding to instead using its own budget. Last month, Sen. Rob Portman (R-Ohio) revived legislation that would appoint an independent inspector general to the CFPB in hopes to improve oversight. Reps. Steve Stivers (R-Ohio) and Tim Walz (D-Minnesota) revived a similar bill last month in the House.center_img Share March 24, 2015 451 Views last_img read more

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Making Housing More Affordable

first_imgMaking Housing More Affordable Affordable Housing Fannie Mae 2018-09-26 Seth Welborn in Daily Dose, News, Origination From now through November 1, Fannie Mae will be accepting ideas for affordable housing through the Innovation Challenge, part of Fannie Mae’s Sustainable Communities Initiative.The Innovation Challenge a two-year, $10 million commitment to source new ideas through entering into contracts for services by reaching outside of Fannie Mae and their traditional partners.“At Fannie Mae, we are committed to increasing access to healthy, affordable housing,” said Fannie Mae’s EVP and Head of Multifamily Jeffery Hayward. “The Innovation Challenge addresses the evolving needs of homebuyers, homeowners, and renters where they overlap with health and wellness issues. Access to affordable homes that keep residents safe and healthy is a critical industry issue, and one that requires us to look at how housing and health impact each other in order to find the best solutions.”“We recognize the value in breaking down silos to work with new partners on issues that are inextricably linked to affordable housing in order to create comprehensive solutions,” said Fannie Mae’s VP of Sustainable Communities Maria Evans. “We are fostering sustainable communities by incubating innovative ideas that directly address our mission to bring affordability and stability to underserved areas and help ensure those residents have access to healthy, affordable, safe places to call home.”For additional support, Fannie Mae “The Challenge: Healthy Affordable Housing,” has assembled an Expert Advisory Panel, composed of experts in affordable housing, health, and innovation, and represents the public, private, and nonprofit sectors.“The Fannie Mae Challenge will provide real–world examples of innovations in housing and health to help families flourish,” said Dr. Kelly Kelleher, Nationwide Children’s Hospital.For those that would like to respond to The Challenge, Fannie Mae asks that respondents respond to one of the three following statements.How might we use innovative technology and design to improve affordable homes in order to better support health, promote overall wellness or prevent disease and illness?How might finance vehicles be leveraged to incentivize the creation of affordable homes that promote health and wellness?How might we foster design that promotes diverse, sustainable, multigenerational affordable communities in which all individuals can remain a vibrant part of their community through every stage of life?For more information and to learn how to respond, click here. Fannie Mae will be accepting ideas through November 1, 2018 at 5:00 p.m. PT.center_img September 26, 2018 537 Views Sharelast_img read more

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Survey Says Home Affordability a Top Concern

first_img January 30, 2019 4,013 Views Share Survey Says, Home Affordability a Top Concern in Daily Dose, Data, Featured, Newscenter_img Affordability credit tightening Down Payment Fannie Mae Home Sales Homebuyers HOUSING Lenders loans low-income buyers Mark Palim moderate-income buyers mortgage 2019-01-30 Radhika Ojha Increasing the supply of housing stock is the key to making housing affordable to a larger population of homebuyers, according to the lenders who responded to Fannie Mae’s Mortgage Lender Sentiment Survey for the fourth quarter of 2018. Some of the other ideas put forth by them included offering consumer subsidies as well as more loan choices such as mortgages involving low down payments or loans including renovation costs.According to Fannie Mae, home affordability continues to be a challenge across the country with rising interest rates and continued home price appreciation discouraging both first-time and move-up homebuyers. As a result, through its quarterly lender sentiment survey, Fannie Mae asked senior mortgage executives their views on improving housing affordability for low- and moderate-income homebuyers.The survey revealed that while 48 percent attributed the slow growth of home sales to an insufficient supply of homes available for sale, they rarely attributed the slow growth to tight credit underwriting standards or lack of mortgage products for first-time low- and moderate-income buyers.Apart from increasing housing supply, some of the other ways that lenders thought would help more low- and moderate-income households achieve their dream of homeownership included improving consumer readiness for owning a home that would help make housing more affordable for low- and moderate-income homebuyers (11 percent) and offering a wider array of loan products (10 percent). Other approaches, such as lowering the total cost of homeownership or offering education or job training to raise income levels, were each selected by 8 percent and 6 percent of lenders, respectively.”In the face of the perceived impacts of non-mortgage supply constraints, it appears that further easing of consumer credit standards would be more likely to contribute to stronger home price appreciation than expanding sustainable homeownership,” said Mark Palim, VP and Deputy Chief Economist at Fannie Mae in his Perspectives blog.Additionally, Palim said Fannie Mae’s research indicated that an “inadequate level of new housing construction relative to growth and underlying demand has contributed to strong home price appreciation and ongoing affordability challenges for first-time and move-up homebuyers.”For Q4 2018, a total of 239 senior executives completed the survey during October 31-November 12, representing 212 lending institutions.Click here to read the full survey.last_img read more

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airlinesCathay Pacific

first_imgairlinesCathay Pacific The airline has announced augmented services for Barcelona, Spain; Tel Aviv, Israel; and Fukuoka, Japan.BarcelonaCathay’s seasonal operation to Barcelona during the summer peak will become a year-round service from 15 April 2018, starting with three weekly services from Hong Kong and becoming a four-times-weekly service from 1 July 2018.The new flights, which will be operated by the technologically-advanced Airbus A350-900, will complement Cathay Pacific’s existing four-times weekly service to Madrid (which increases to five times a week from 29 October 2017), meaning the airline will provide more non-stop flights to Spain from Asia than any other carrier.Tel AvivLaunched in March 2017 as a four-times-weekly operation between Hong Kong and Tel Aviv, the Airbus A350-900-operated route will now be served six times a week from 25 March 2018, increasing to daily throughout October and November.FukuokaCathay Pacific’s regional carrier, Cathay Dragon, will be increasing the frequency of its services between Hong Kong and Fukuoka from 18 December 2017.The airline will initially operate an additional weekly flight to Japan’s fifth largest city, bringing the total number of flights per week to eight, increasing to 11 flights per week between 14 January and 24 March 2018.last_img read more

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