The results of Skyscanner’s first Asia Pacific Airline Food Awards are in, with Tiger Airways, Singapore Airlines and Garuda Indonesia taking out the top spots for their respective categories.A panel of over 200 travellers and bloggers from across Asia Pacific were recruited in Skyscanner’s study of on-board meals, making their decisions based on taste, presentation, choice and the value for money (for low cost airline’s meals).Here are the results:Top 5 Low-cost Airline FoodTiger AirwaysScootAir AsiaJeju AirSpring AirlinesTop 5 Short-haul Airline FoodSingapore AirlinesGaruda IndonesiaKorean AirPhilippine AirlinesChina Southern Top 5 Long-haul Airline FoodGaruda IndonesiaKorean AirSingapore AirlinesAirAsiaXAir ChinaAnother survey by Skyscanner revealed, 54 percent of 1,500 international respondents believed that the quality of airline food was quite good and three-quarters thought that it had improved compared to previous years. This response is likely due to airlines putting a greater importance on serving good food as travellers become more swayed with the menu choices when deciding on which airline to fly with, according to the survey. Interestingly, 28 percent of respondents ordered a special diet meal, with 8 percent admitting to this choice because they thought those meals tasted better. Source = e-Travel Blackboard: A.N Chicken Hainan with Bok Choy.
Investigations are underway into the Asiana Airlines 777 crash-landing at San Francisco Airport this weekend, which resulted in two fatalities and 180 injuries. Mr Young-doo added that the three captains were veterans, with over 10,000 flying hours of experience between them. Source = ETB News: NJ Additionally, the aircraft’s tail was ripped off during the crash, sparking a fire and burning out large portions of the aircraft’s body. Witnesses said the plane spun around before landing on its belly at the end of the runway. With the aircraft’s pilot due to be interviewed over the coming days, Asiana Airlines boss Yoon Young-doo said the aircraft did not have mechanical problems when it crashed, but refused to comment on whether the accident could have been caused by human error. According to the National Transportation Safety Bureau’s preliminary investigations, the pilot of Flight 214 attempted to abort the landing roughly 1.5 seconds before the crash, by requesting a “go-around” from ground crew. “For now, we acknowledge that there were no problems caused by the 777-200 plane or [the aircraft’s] engines,” he explained. Meanwhile, San Francisco General Hospital interim surgery chief Margaret Knudson said two teenagers passed away while the most severely injured passengers are paralysed, unconscious or suffering from serious abdominal bleeding. On Saturday, the aircraft carrying 307 people, was flying in from Seoul when it came short of the runway, landed in a rocky area of the water’s edge and burst into blames, the ABC reported. She explained that so far patients who are able to speak have told doctors they were sitting at the back of the plane where the tail ripped off.
P&O Cruises has scored a hat-trick after being named Australia’s most trusted cruise operator for the third year running by Reader’s Digest.The cruise line beat eight other ocean and river cruise operators to come out on top.P&O Cruises Senior Vice President Sture Myrmell said it was an honour to be recognised yet again by the magazine’s readers as one of the country’s most trusted brands.“There have been many exciting developments take place across our fleet since we took home the inaugural cruise operator award in 2013,” Mr Myrmell said.“From installing onboard adventure parks to revolutionising our food offering and announcing the addition of two ships to our fleet later this year, we’ve taken Australian cruising to the next level to deliver a contemporary offering, which appeals to all Australians.“We’re thrilled to see our new products being embraced by existing and new guests, and our cruise line continuing to be endorsed with awards such as this. We look forward to welcoming more Australians onboard our fleet as we embark on our biggest ever year of cruising,” he said.The annual Reader’s Digest Trusted Brands Survey has been operating for 15 years as an independent survey of the Australian public. This year 46 categories were featured and more than 2400 people were surveyed. Book a P&O cruiseSource = P&O Cruises Australia
KJet heads full throttle to Christchurch for Convene SouthLeading Queenstown-based tourism operator KJet is building on success at the hugely popular Convene South event in Christchurch next week.As Queenstown’s ‘one-stop-shop’ for the ever-growing conference and incentive market, KJet offers groups a range of activities second to none.And attending Convene South – showcasing venues, accommodation, activities, entertainers and attractions the depth and breadth of the South Island – has proved a winning formula for the company.As one of the South Island’s key activity suppliers, KJet will be at Wigram’s Air Force Museum on September 1to primarily build relationships with other suppliers and clients, and answer questions for would-be clients. It’s a rare opportunity for South Island businesses to connect under one roof on one day, and is particularly timely as the South Island heads into the busy summer season.Convene South is the South Island’s only trade show connecting business event organisers and suppliers, aimed specifically at staff who organise conferences, meetings, special interest tours, incentives and functions.KJet offers a high-speed, adrenalin packed Jet boating experience for people visiting Queenstown. Marketing manager Ginny Goding said last year’s event was a huge success which “created some great relationships” with local South Island destination management consultants like eventionz Ltd and cievents.“It’s our second year at Convene South and after the success of last year we can’t wait to return,” she said.“The event is very good for us as it brings in business and creates new relationships. It really gets the word out there about KJet and what we do, as after all we’re so much more than ‘just’ a Jet boat company.”KJet prides itself on offering a ‘one-stop-shop’ service for conference and incentive groups, and uses Convene South to highlight new product features.“From planning the itinerary, to liaising with airlines and hotels, every minute detail is taken care of for clients to ensure their event runs smoothly,” said Ms Goding.“We’re the only company offering Jet boat transfers from the airport into town, a fantastic and unique ‘welcome to Queenstown experience’, so we’re a must-do for those who want to kick off their event in style.”KJet Queenstown is the ultimate New Zealand Jet boating experience. The KJet skims just above the deep crystal blue waters of Lake Wakatipu, followed by the Kawarau River then Shotover River, interjected with the hair raising yet fun 360-degree spins that the Jet boats are specifically designed for.Established in 1960, KJet prides itself on still being locally owned and operated, with long-term owner Shaun Kelly running the operation along with business partner David Skeggs of the Skeggs Group.“Convene South has definitely gained momentum since it started in 2013 and is very much part of the overarching Christchurch revitalisation,” said Ms Goding.“It’s a great opportunity to showcase what we’re about and ultimately continue to raise the profile of Queenstown as a world-class holiday destination.”Source = KJet
roomsXML now providing 24 hour check-in for Dubai roomsXML now providing 24 hour check-in for DubaiEver since Dubai has exploded as a popular, and sometimes necessary, stopover agents have sought information on hotels offering 24 hour check-in. Following a series of negotiations with hotels in Dubai, roomsXML can provide 24 check-in for the following hotels:Auris Plaza Hotel Al BarshaBest Western Premier Deira HotelCopthorneDoubleTree by Hilton Hotel and Residences DubaiDusit ThaniGrand HyattHilton Dubai CreekHilton Dubai JumeirahHoliday Inn Dubai Al BarshaHyatt Regency Dubai Creek HeightsJumeira RotanaJumeirah Emirates TowersMarina View HotelMedia RotanaPullman Jumeirah Lakes Towers Hotel And ResidenceRamada Plaza Jumeirah Beach ResidenceRivieraSofitel Dubai DowntownThe H Hotel (Formerly Monarch)Mark Luckey Managing Director of roomsXML Pacific says “agents are telling us what they need, and we are working hard to provide their customers requirements”For more information on how to check in 24 hours a day in Dubai click hereJoin Now www.roomsxml.comSource = roomsXML.com
Celebrating seventy yearsInterContinental Hotels & Resorts celebrates 70 yearsKnown as the world’s largest luxury hotel brand, InterContinental Hotels & Resorts is proud to celebrate their 70th global anniversary this year – with InterContinental Melbourne The Rialto taking a trip down memory lane to mark the special milestone.In ode to InterContinental’s beginnings with founder of Pan America Airways, Juan Trippe, InterContinental Melbourne The Rialto invited guests to ‘Breakfast in the Sky’ on the 53rd floor of The Rialto.Greeted by Pan Am airline flight attendants on arrival, guests were treated to traditional Pao de Queijo – delicious Brazilian cheese bread in honour of the first InterContinental hotel to open in 1949, The Grande in Belem Brazil.Melbourne fashion designer Dom Bagnato also surprised guests with a special performance of Frank Sinatra’s Sway, all while surrounded by 360 degree views of Melbourne’s CBD.InterContinental Melbourne The Rialto General Manager, Erik Stuebe, said the anniversary is an opportunity to celebrate all the people who have brought the brand to life over the years.“For the last seventy years, and ever since the doors to our first hotel swung open to welcome thousands of guests, our hotels have acted as a gateway to a life of luxury travel,” said Mr Stuebe.“In celebration of the brand’s rich heritage and the original founder of InterContinental Hotels & Resorts, we are proud to mark the 70th anniversary in a uniquely Melbourne way.“What better way to celebrate at the InterContinental Melbourne The Rialto by showcasing our unique combination of historic opulence with a cutting-edge Melbourne style.”Launching in 1946, InterContinental Hotels & Resorts grew quickly in its early years, becoming synonymous with luxury, jet-set travel.Today, InterContinental Hotels & Resorts is the world’s largest luxury hotel brand. There are 184 InterContinental hotels open in more than 60 countries, reaching almost every corner of the world. InterContinental Melbourne The Rialtobook your rooms here Source = InterContinental Hotels & Resorts
Qatar Airways announces that at a ceremony in the ‘Salon des Ambassadeurs’, at the Elysée Palace, President of the Republic of France, Francois Hollande, presented to Qatar Airways’ Group Chief Executive, His Excellency Akbar Al Baker a Legion of Honour.The prestigious award was bestowed upon His Excellency Al Baker for his leadership in the aviation industry and for spearheading Qatar Airways to be a leading global airline.During the ceremony, the significance of this honour was conveyed, announcing the service and commitment that Al Baker as an airline Group Chief Executive has had towards the global aviation industry, and also to France at-large.Al Baker was commended for his vigour and leadership in spearheading a legacy of collaboration between Airbus and Qatar Airways – a first for the industry – where there has been a highly intricate level of coordination between design and implementation by the manufacturer and operator. The high quality product and service delivery presented on each Qatar Airways flight was also recognised for the standards and advancements it has made in hospitality, for each of its guests onboard. The efficiency of Qatar Airways’ operations was praised for its precision and timely effectiveness.Qatar Airways’ contribution to the Hamad International Airport was recognised, not only for the airline’s benefit but for the entire travelling public that travels to Doha and beyond.Al Baker said, “France is a country that I admire for its ingenuity, grandeur and long legacy of craftsmanship of the highest calibre.“I humbly accept this Honour with immense pride and great appreciation to the people and culture of France in all of their contribution to Qatar Airways, the national airline of my country.”
Etihad Airways has announced the appointment of three UAE nationals to key executive roles. Captain Salah Alfarajalla has become the Senior Vice President Security and National Pilot Development; Ghudayer Al Dhaheri has been appointed Vice President Corporate Security while Sultan Mohamed Al Mahmoud joins the airline as Vice President Corporate Strategy.Ray Gammell, Etihad Airways’ Chief People and Performance Officer said, “I am delighted to announce the new executive roles for Captain Salah and Ghudayer and to welcome Sultan to the Etihad Airways family. Their varied and extensive professional backgrounds reinforce and expand the impressive executive management expertise we have in our team.”In his new role, Captain Salah will be responsible for aviation and corporate security, and will continue to oversee the Etihad Airways’ cadet pilot programme. Thus far, he has played an instrumental role in managing the aviation security systems including physical, technical, operational and procedural security measures.Vice President Corporate Security, Ghudayer will report to Captain Salah and will provide strategic policy and management guidance for the implementation of protective and proactive security measures for staff, guests, facilities and other resources within the UAE and in other countries on the network.Sultan Mohamed Al Mahmoud joins Etihad Airways from the Tourism Development and Investment Company (TDIC), who will put his years of experience to good use by developing and implementing short, medium and long-term strategies that will see Etihad Airways further strengthen its position as key contributor to Abu Dhabi’s GDP and the UAE.
IndiGo and Travelport have announced a strategic partnership which will see IndiGo distribute all of its fares and ancillary products to Travelport-connected customers worldwide. This is the first time that IndiGo has struck a deal with a global GDS, and the choice of Travelport as its distribution partner reflects the value the airline sees in Travelport’s Travel Commerce Platform. The platform offers fully integrated, industry leading merchandising capabilities and is used extensively by travel agencies in India as well as other key target markets for IndiGo.Through the strategic partnership with Travelport, IndiGo will place its fares, ancillary products and offers into the Travel Commerce Platform. This distribution platform, unique to Travelport, will enable IndiGo to provide its content via an API connection, rather than the more traditional fare filing methods often favoured by network carriers, and still have their fares and ancillaries displayed, compared and booked in exactly the same way. In addition, the airline will also use Travelport’s leading merchandising capabilities to bring IndiGo’s brand proposition to life for travellers arriving into India and then seeking domestic flights within the country. The distribution partnership will also help the airline reach travellers in international markets as it continues to expand its route network into destinations in the Indian Subcontinent, the Middle East and South East Asia.Commenting on the partnership, Aditya Ghosh, President & Whole Time Director, IndiGo said, “This arrangement with Travelport will allow us to reach new customers, both at home and overseas, in a cost effective manner without incurring the traditional costs associated with participating in global distribution platforms using old style industry mechanisms and instead, enabling our real time connectivity to the GDS platform via an XML API link.”Derek Sharp, Travelport’s Managing Director, Air Commerce, said, “It is a testament to our product leadership, geographical coverage and customer engagement that IndiGo has selected Travelport as its global distribution partner. This announcement is very good news for all of our connected travel agencies in India and around the world.”
VisitBritain, in the run-up to the release of the action adventure film King Arthur: Legend of the Sword, launched an international film tourism campaign in order to showcase why Britain is a legendary tourist destination. The campaign ‘Where Stories Become Legends’ aimed to inspire people to book a King Arthur-themed holiday to Britain using #OMGBLegends.“Our collaboration with Warner Bros Pictures on King Arthur: Legend of the Sword is a fantastic opportunity to showcase to a global audience of millions the legendary experiences only available in Britain, inspiring people to book a trip right now to discover their own epic stories,” says Clare Mullin, Director of Marketing, VisitBritain.The campaign drives online ‘traffic’ to a VisitBritain King Arthur: Legend of the Sword site on visitbritain.com filled with information on British locations from the film and King Arthur-inspired holiday experiences available in 13 languages.
Share August 18, 2011 449 Views Agents & Brokers First-Time Homebuyers Home Sales Housing Affordability Investment Investors Lenders & Servicers Mortgage Applications National Association of Realtors Processing Service Providers Valuation 2011-08-18 Ryan Schuette in Data, Origination, Secondary Market, Servicing Existing-Home Sales Plunge by 3.5% in July Dashing hopes for a more moderate fall, existing-home sales rolled downhill by 3.5 percent in July, with single-family sales hitting a seasonally adjusted 4.67-million annual rate. The “”National Association of Realtors””:http://www.realtor.org/ (NAR) ascribed the new numbers to tight underwriting practices, a crimped credit supply, and sluggish job creation.[IMAGE]The NAR, which released an existing-home sales “”report””:http://www.realtor.org/press_room/news_releases/2011/08/july_ehs Thursday, held that single-family townhomes, condominiums, and coops dropped from a seasonally adjusted annual rate of 4.84 million units over June. The rate nonetheless hovered 21 percent atop a pace of 3.86 million units or so from July last year, which crested a wave of new sales created by the federal homebuyer tax credit, according to the report.””Affordability conditions this year have been the most favorable on record dating back to 1970, but many buyers are being held back because banks are offering financing to only the most highly qualified borrowers, ignoring a large share of otherwise creditworthy buyers,”” Lawrence Yun, NAR’s chief economist, said in a statement. “”Those potential buyers represent the difference between an uneven recovery and a much more robust housing market that could stimulate additional economic activity and create jobs.””According to the NAR, July saw existing-home sales taper off from upward revisions recorded in June, even as monthly losses in traditionally robust regions like West and South eclipsed more favorable numbers for the Midwest and Northeast.The trade group chalked up losses to cancelled contracts, which it said rose as a result of passed-over mortgage applications and headshakes from underwriters and appraisers. Nine percent of realtors said their contracts saw delays over the past three months in part because of low appraisals, while 13 percent blamed renegotiated contracts for lower sales prices.[COLUMN_BREAK]Meanwhile, national median existing-home prices fell to $174,000 on average for all housing units, reflecting a 4.4-percent dip from July last year. Aggregate housing inventory dropped to 3.65 million existing homes at a seasonally annual rate, sending current sales to a 9.2-month supply from 9.4 months over June.Thirty-two percent of homes went to first-time buyers over the July season, reflecting a 31-percent increase from June and a 7-percent decline from 38 percent over June last year. Repeat buyers clipped a majority of sales, gobbling up some 50 percent of the sales market over July. Transactions over the same period rode on all-cash sales to the tune of 29 percent, with investors taking up a considerable amount of cash-only purchases.On a regional basis, existing-home sales went up by 2.7 percent in the Northeast, while numbers for the same nudged forward by only 1 percent in the Midwest. Sales in the South fell 1.6 percent to an annual rate of 1.84 million units as those in the West dropped by some 12.6 percent to hit an annual rate of 1.04 million over July. “”For both mortgage credit and home appraisals, there’s been a parallel pendulum swing from very loose standards which led to the housing boom, to unnecessarily restrictive practices as an overreaction to the housing correction,”” Ron Phipps, NAR’s president and head of Warwick-based Phipps Realty, said in a statement.””Beyond the tight credit problems, all appraisals must be done by valuators with local expertise and using reasonable comparisons,”” he added. “”[I]t doesn’t make sense to consistently see so many valuations coming in below negotiated prices, often below replacement construction costs.””Writing for “”Capital Economics””:http://www.capitaleconomics.com/, Paul Dales, a senior U.S. economist with the research firm, wrote about the existing-home sales declines by saying it “”appears that the recent economic slowdown has already put a dent in housing demand.””Dales added that “”[s]ome of the previous declines can be attributed to the unusually bad weather that depressed sales in the spring. But there is no escaping that the recent softness is at least partly due to the renewed weakness in the wider economy and the turmoil in the equity markets.””Coming on the heels of the existing-sales report, the Dow Jones Industrial Average fell once more, taking a 419-point nosedive late Thursday.
Single-Family Starts Reach Two-Year High in August Agents & Brokers Attorneys & Title Companies Census Bureau Confidence Home Sales Housing Permits Housing Starts HUD Investors Lenders & Servicers National Association of Home Builders Service Providers 2012-09-19 Mark Lieberman Single-family starts increased 28,000 in August to 535,000, the highest level since April 2010, the “”Census Bureau and HUD””:http://www.census.gov/construction/nrc/pdf/newresconst.pdf reported jointly Wednesday.[IMAGE]Despite the increase total, housing starts improved just 17,000 as multi-family starts fell. Housing permits meanwhile dropped 9,000 to 802,000.Economists had expected total starts to increase to 768,000 and permits to slip to 803,000. Total housing completions in August rose to 689,000, the highest level since June 2010.July starts were revised down to 733,000 from an originally reported 746,000 with most single family starts adjusted up to 507,000 for the originally reported 502,000 and multi-family starts revised down.The data release followed another upbeat report on holder confidence for September from the National Association of Home Builders which said Tuesday its housing market index improved three points in September to 40, the highest level since June 2006.Despite the one-month drop, permit activity in August was up 24.5 percent from a year earlier. The slower than expected growth in starts was attributable in part to a drop in the storm-ravaged Northeast where starts fell 11,000.[COLUMN_BREAK]Starts increased 13,000 in the South despite Hurricane Isaac, but the storm came late in the month and its impact will be reflected in data revisions next month.The month-over-month report masks an improving longer term trend. In the first eight months of this year, total starts have averaged 729,250 compared with 582,875 in the same period last year. Single-family starts averaged 506,500 in the first eight months of this year compared with 421,375 in the same period in 2011.Permits too have surged: an average of 755,000 per month thus far this year compared with 600,000 in the January-August period last year.Permits for single-family homes averaged 484,375 each month this year compared with 408,125 in the first eight months of 2011.Completions too are up, averaging 620,625 for the first eight months this year compared with 581,125 in the same period in 2011. Single-family completions averaged 456,625 thus far in 2012 compared with 446,000 in the first eight months last year. New-home sales have averaged 360,000 this year compared with 300,000 in 2011 so the gap between sales and completions (146,000 per month in 2011 and 104,000 in 2012) is shrinking.Start activity for multi-family structures (five or more units) underscores the shifts in the housing sector: multi-family starts averaged 212,000 in the first eight months this year, up from 151,000 in the same period a year ago.Total starts fell in two of the four census regions, dropping 11,000 in the Northeast and 8,000 in the West while increasing 23,000 in the Midwest and 13,000 in the South. Permits too rose month-over-month in two of the four Census regions, improving 9,000 in the Midwest and 2,000 in the South while falling 13,000 in the West and 7,000 in the Northeast. in Data, Origination Share September 19, 2012 424 Views
Survey: Growing Number of Applications Submitted During Work Hours Share in Data, Government, Origination, Secondary Market, Servicing, Technology June 12, 2013 404 Views Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Mortgage Applications Processing Service Providers 2013-06-12 Krista Franks Brock A majority of people applying for mortgage loans online are applying during work hours, according to a recent survey by “”MortgageMarvel.com,””:http://www.mortgagemarvel.com/?refcd=mortgage%20marvel&gclid=CObzvIbF3LcCFehr7AodrmkAWQ owned by D+H Mortgagebot, a consumer lending technology company based in Mequon, Wisconsin. [IMAGE]After reviewing more than 650,000 online mortgage applications sent to more than 1,100 lenders last year, Mortgage Marvel found only 15 percent of applications were submitted on weekends. A majority of those submitted on weekdays–60 percent–were submitted between 7 a.m. and 6 p.m., prompting Mortgage Marvel to assume many applicants are applying while at work.[COLUMN_BREAK]””You have to assume that most people applying for a mortgage are employed, so they’re obviously spending a bit of their workday on their mortgage application,”” said Rick Allen, COO at Mortgage Marvel. “”In fairness though, many applications come in over the lunch hour, and it’s also likely that people are doing regular work outside what we traditionally consider to be normal hours,”” he added. Furthermore, most mortgage applicants only take about 30 minutes to complete their applications. “”People appreciate being able to complete an application on their schedule at their pace,”” Allen said. About 62 percent of applicants complete their entire application in one session, while the remainder start the process and then log in on a separate occasion to complete it. Allen reasons those who complete their applications over multiple sessions are either interrupted or need time to gather all the information required on the application. “”We expect the number of online applications to continue to grow for many years to come,”” Allen said.
November 13, 2014 678 Views in Headlines, News loanDepot, one of the nation’s largest nonbank mortgage lenders, is set to acquire super-regional mortgage firm Mortgage Master in a deal expected to close early next year, the companies announced.According to the announcement, the combination of the two brands will result in 130 retail lending branches, four Web product centers, and 3,700 full-time associates working under one company nationwide. Together, the companies’ retail loan funding volume totaled $1.75 billion in October, with nearly $70 million in top-line revenue.The combined company will maintain and operate the loanDepot.com, imortgage, and Mortgage Master consumer brands.”By welcoming our colleagues at Mortgage Master to loanDepot, we are creating a very powerful and exciting opportunity for the organization, consumers, and our employees,” said Anthony Hsieh, chairman and CEO of loanDepot, LLC. “Our business models, our cultures, and our product offerings are highly complementary. The combined company will position us to accelerate our expansion in the northeast while continuing to build our national consumer lending businesses offering both mortgage and nonmortgage lending products.”Through the acquisition, loanDepot says it hopes to fuel further growth in its enterprise-level retail branch strategy while complementing its online direct-lending business, giving its customers more options for lending products, services, and locations.The latest acquisition is loanDepot’s second major merger and acquisition (M&A) transaction in the last two years. In November 2013, the company started operating imortgage, a leading retail lending platform with more than 85 branch locations throughout the western United States.”We will continue growing market share through organic expansion and selective strategic acquisitions and have many important milestones ahead, including the introduction of consumer loans,” Hsieh said.As part of the agreement, Mortgage Master’s founder and CEO, Leif Thomsen, will continue to lead the company’s brand, along with president Paul Anastos.”We are extremely excited to join the loanDepot team,” Thomsen said. “Our goal was to position Mortgage Master so we could continue offering the best programs at the best prices, while delivering more innovative products, marketing services and technology resources for our employees to ensure best-in-class services to borrowers. This partnership empowers us to do this while creating substantial growth opportunity for the Mortgage Master brand.” loanDepot to Acquire Mortgage Master in Major M&A Deal Share Acquisitions Company News loanDepot Mortgage Master 2014-11-13 Tory Barringer
Peter Muriungi has been chosen as JPMorgan Chase’s new head of Mortgage Servicing to replace Mike Weinbach, who was named CEO of Chase’s Mortgage Banking division in December, the bank confirmed on Wednesday.Muriungi joined Chase in 2013. Prior to being named head of Mortgage Servicing with Chase, he worked for the last year as the head of Shared Services with the Mortgage Banking Leadership team. His team played a key role in making sure that Chase met all the requirements of the National Mortgage Settlement and the Office of the Comptroller of the Currency’s consent order, which was enacted in June 2015. Chase was just released from the OCC’s consent order yesterday after the OCC determined that the bank is now in full compliance with the terms of the 2013 Independent Foreclosure Review.“Under Peter’s leadership, we’ve made significant improvements in how we serve our customers, while meeting all regulatory requirements,” Weinbach said, also noting that Muriungi’s team has “successfully enabled us to tie how we do business with the regulations we follow.”Prior to serving as head of Shared Services with Chase, Muriungi served the bank as the head of Remediation. In that role, Muriungi was a key figure in the management of investor relationships as well as portfolio sales and acquisitions strategies. Also in that role, Muriungi implemented Dodd-Frank’s required default mortgage servicing rules.Muriungi’s positions prior to joining Chase included SVP of Special Portfolio Management and Servicing Strategies with GMAC Mortgage and SVP of Strategy and Analytics and EMC Mortgage Corporation. He has an MBA from East Texas Baptist University and a bachelor’s degree in International Business from the United States International University in Kenya. in Daily Dose, Featured, News, Servicing JPMorgan Chase mortgage Servicing 2016-01-06 Seth Welborn January 6, 2016 623 Views JPMorgan Chase Welcomes New Head of Mortgage Servicing Share
NTC 2016-11-04 Staff Writer November 4, 2016 605 Views Nationwide Title Clearing (NTC), a post-closing services provider for the nation’s largest financial institutions, investors and servicers, has launched a new, shortened version of the company’s popular Assignment Verification Report (AVR), called the AVXpress (AVX), according to a recent release from the company. The new streamlined report contains everything an AVR contains without the keyed report, without compromising the quality of the research clients are accustomed to receiving from NTC.”Our research services are the gold standard in the US real estate business, but not every client needs the complete Assignment Verification Report,” said NTC CEO John Hillman. “This new report is a direct result of our drive to provide exactly the kinds of products and services our client partners need. We expect the AVXpress to be the perfect solution for many of those we serve today.”AVX involves a thorough search of actual, current land records. The resulting research is then bundled up into an image package containing the subject mortgage and all applicable recorded documents in an assignment chain or that impact the standing of the target mortgage. This image pack can be used to support best signing practices by providing relevant supporting documentation or to assist in the perfecting of collateral files by retrieving recorded documents that are often missing and can cause many downstream issues throughout the life of a loan.Nationwide Title Clearing uses the new report in the delivery of the Assignment and Release Services its clients rely upon. Through the process of an NTC created assignment or lien release, the company validates the assignment chain and lender of record shown on the most recent assignment in the AVX to support the correct preparation and execution of the document being prepared to be recorded. in News, Technology NTC Launches New Version of Popular Report Share
Insecurities Lie Within the Buying Process in Data, Headlines, News Data Homebuying NerdWallet 2017-02-23 Sandra Lane February 23, 2017 607 Views One of the most stressful experiences in life can be searching for and buying a home. First, prospective homeowners must look at homes in their price range, and nowadays, there may be multiple contracts on the home they would like to purchase. Then, there are all the details they have to provide in order to get a loan, such as credit history, income, and assets. To better understand the psychology of the home-buying experience, NerdWallet released its first Home Buyer Reality Report on Thursday, which analyzed each step of the journey to homeownership, from home shopping through the lending process. It looked at the roadblocks to mortgage pre-approval, why some borrowers never make it to the closing table, and why others have regrets even after they become homeowners.“According to our research, borrowers who don’t understand the mortgage process or don’t know enough about their own credit history tend to hit obstacles or be rejected when applying for mortgages,” says Tim Manni, a mortgage expert at NerdWallet.“They also tend to feel regret after their deal is done, even if they succeeded in buying a home,” Manni adds. “That tells me borrowers aren’t doing enough research—on themselves or the mortgage process—before applying for a home loan.”To better understand the feelings various people have regarding purchasing a home, NerdWallet commissioned a survey conducted online by Harris Poll. The report was based on a survey of more than 2,200 people, 1,300 of whom had applied for a mortgage, and more than 1,400 who are current homeowners. Of those who had applied for a mortgage, 6 percent reported being denied — among them, 50 percent say they were denied on their first try, and one-quarter (25 percent) say they were denied more than once.The majority of mortgage applicants who have been denied a mortgage (79 percent) received an explanation from their mortgage professional for why their loan was denied. Forty-one percent thought their denial was unfair and 33 percent felt it was embarrassing. One the other hand, more than one-third (35 percent) said it encouraged them to improve their financial situation.Among mortgage applicants who had been denied, the top three reasons for denial were due to (1) a high debt-to-income ratio (52 percent), (2) issues with credit history and score (39 percent), and (3) having insufficient income (25 percent.The survey found that of mortgage applicants who had been denied a mortgage, 31 percent were surprised they were denied. The rejection, however, doesn’t seem to deter Americans from pursuing their dreams, as 33 percent said they knew the next steps and actions they needed to take to purchase or refinance a home.Other facts revealed were that there are distinctively different experiences and emotions among millennials, Gen Xers, and Boomers when it comes to navigating the home-buying process.In fact, 11 percent of millennial homeowners said they no longer felt financially secure after purchasing their home, and that roughly 3 in 5 millennial (57 percent) and Gen X (61 percent) homeowners indicated they had regrets, saying they would do things differently the next time around in the home-buying process, in comparison to only 38 percent of baby boomers. Interestingly enough, Gen X mortgage applicants were less likely to report having a positive experience (26 percent) with the mortgage process than millennial applicants (39 percent), but although there was a difference in experience, Gen Xers were just as likely to be approved for a home loan (91 percent) as millennials (89 percent). Share
Pavaso, a Texas-based digital mortgage closing technology company has announced the appointment of Brenda B. Clem as EVP of Capital Markets.“Pavaso is the developer of the industry’s only digital closing platform that brings lenders, title companies and borrowers together in one single digital portal.”According to Pavaso, Clem is a mortgage industry veteran with over 30 years’ experience in operations and secondary markets. Her focus at Pavaso will be on education and increasing awareness in the mortgage industry on how to improve residential lending through technology, including eNote, eMortgage and eWarehouse adoption.Additionally, Clem co-chairs MISMO’s eWarehouse workgroup and is a frequent speaker at industry events. She also authors articles for a variety of mortgage trade publications.”Brenda is already a familiar face in the mortgage industry, and we are honored to have her on our team,” said Mark McElroy, CEO, Pavaso. “She will be one of Pavaso’s top spokespersons in leading the charge toward universal adoption of eMortgage. Brenda’s passion, experience and her ability to articulate complicated information clearly make her an outstanding resource for Pavaso’s clients, as well as for the industry as a whole.””I’m very pleased to join Pavaso, a leader in digital closings,” Clem said. “Pavaso’s technology reduces loan costs by digitizing the process, enabling lenders to provide a more complete loan package and reduce errors by eliminating undersigning and over signing of closing documents.”“With Pavaso’s technology, consumers experience a transparent and convenient closing process because they–or their REALTORS or loan officers–have access to the closing documents anywhere, on any device, prior to closing,” McElroy added. According to McElroy, the Pavaso Platform is also capable of producing hybrid closings, which are part ink and part digital, as well as complete eNote and eVault transactions. September 13, 2018 586 Views in News, Technology FinTech Pavasp 2018-09-13 Seth Welborn Share Pavaso Appoints New EVP of Capital Markets
NZ: Seasonal labor shortage declared for Bay of Pl … U.S.: More rain coming to California … June 13 , 2019 Perishable Pundit: The words that can’t be spoken … Q&A: Westfalia Fruit on EU avocado market’s i … Almost 50 children have died in northern India over the past three weeks from a brain disease that has been linked to a toxin in lychees, said CNN.Health authorities in the state of Bihar said Thursday that 47 children have died of acute encephalitis syndrome (AES), which is characterized by high fever and inflammation of the brain.The deaths were reported from two hospitals in the state’s Muzaffarpur district, an area known for its abundant lychee orchards, commented CNN.AES is a deadly viral infection carried by mosquitoes. In 2015, U.S. researchers said the brain disease could also be linked to a toxic substance found in the exotic fruit, noted The Guardian.According to The Telegraph, the sweet translucent fruit is believed to induce a fatal metabolic illness called hypoglycemic encephalopathy in children, especially among those who are young and have a poor diet.It explained that this is because Methylene cyclopropyl-glycine (MCPG), a chemical found in lychee, can affect brain functioning when body sugar levels are low because of fasting or undernourishment. Currently, at least 40 other children complaining of similar symptoms are being treated at intensive care units, said officials.“We are trying our best to save them,” The Guardian quoted S. P. Singh, the chief medical officer of Sri Krishna medical college and hospital, as saying.History of deaths related to lychee toxinOutbreaks of the disease have occurred in Muzaffarpur and its neighboring districts for more than 20 years, noted The Telegraph.According to The Guardian, these outbreaks typically coincided with the lychee season.2014 saw the highest fatality rate associated with the illness when over 150 deaths in India were linked to it.Official figures have placed the number of reported AES cases so far this year at 48, an increase from 40 in 2018.Meanwhile, outbreaks of neurological illness have also been observed in lychee-growing regions of Bangladesh and Vietnam, said The Guardian. You might also be interested in
appointmentsHelloworld Limited Well known industry professional Sue Graham has been appointed by Helloworld Limited to the position of head of air contracting, replacing Paul Hollingshead, and reporting directly to Stan Scott, head of commercial.She joins Helloworld on 18 April with over 35 years’ experience in the travel industry, most recently as general manager supplier partnerships at CT Partners. Prior to that, Graham worked at Stella/JTG for six years in senior contracting roles and has also held senior positions with Travelocity and Flight Centre.“Sue brings a wealth of business, operational and industry knowledge to this critical role and it is very pleasing to see her coming back to Helloworld after a four year absence. Sue has a proven track record in establishing and managing supplier relationships and delivering for both our distribution businesses and our supplier partners” said Helloworld CEO Andrew Burnes.