Fraser Suites Sydney Wins At The Hotel And Motel Accommodation Awards

first_imgFor the third year running, Fraser Suites Sydney are delighted to announce their win at the 2010 Hotel and Motel Accommodation Industry Awards for Excellence (HMAA) in the category of ‘Self Contained 5 Star Rated or Premier Accommodation’ presented at the annual gala dinner held on Friday September 24th on the Gold Coast.“To win this award for the past three years is a tremendous achievement of which we are all extremely proud”, Alexandra Ridgway, Director of Sales and Marketing said. “The Fraser Suites Sydney team are passionate and work tirelessly to promote our brand, take care of our guests and make every effort to ensure our product looks fabulous”.“The team would like to take this opportunity to extend a special thanks to our key partners and loyal customers who support us and provide us with invaluable feedback which ensures we are continually improving and implementing new ideas to enhance our guest’s experience”.The HMAA is regarded as a leading voice and authority in the Australian accommodation industry and their annual awards are a chance to recognise the professionalism of accommodation operators and their contribution to excellence within the industry.Fraser Suites Sydney is an award winning all-suite hotel strategically located in the heart of Sydney. Featuring studios, one and two bedroom deluxe suites and stunning duplex penthouses embodied in a striking glass tower that transforms the city skyline. Design elements throughout are infused with warmth and modern furnishings that appeals to the discerning guest. The décor is complimented by exceptional amenities including a mezzanine lounge and an inspiring leisure centre featuring a spa, sauna, lap pool and spacious gymnasium. Source = Fraser Suites Sydneylast_img read more

Alila Diwa Goa Has Been Accorded The Critics Award For The Best

first_imgSource = Alila Hotels and Resorts Caption (L-R): Manav Thadani – Chairman HVS India, Nirav Parekh – Director Seabird Resorts Pvt Ltd., Mark A. Edleson – President Alila Hotels & Resorts and Stephen Rushmore, Chairman HVS Alila Diwa Goa, an Alila lifestyle hotel has been accorded the Critic’s Award for the “Best New Hotel in the Luxury and Upscale segment” at the 2011 Hotel & Investor Conference South-Asia (HICSA) awards that took place in Mumbai on the 6th and 7th April. A total of 10 hotels were shortlisted by an esteemed panel of industry experts with the final selection being made by the HICSA delegates via an online voting system.The HICSA Hotels of the Year Awards are recognized as a global benchmark for excellence in the travel and hospitality sector and honour the most outstanding hotel developments of the previous year in South Asia. The awards have grown from strength to strength over the past three years and now encompass a wide range of products from across different segments of the industry with a new category for Best Green Hotel being added on this year. Saji Joseph – General Manager of Alila Diwa Goa says, “Alila Diwa Goa is Alila’s first entry into India and from a brand perpective has created a surprisingly different destination experience that showcases a stylish, warm and friendly Goa.”He further added, “The resort presents a new face to Goan tourism and in the short time that it has opened, has topped the TripAdvisor rankings, thanks to the tremendous support we have received from our friends in the industry.”last_img read more

Operators showcase Destination NSW to India

first_img“This Trade Mission will help our tourism operators make important connections to the key travel businesses in India and continue to raise our profile in this important market.” The ten companies travelling to India next week include; Accor, APT, Grand Pacific Drive, Merlin Entertainments Group, Mirvac, Scenic World Blue Mountains, Sydney Showboats & Magistic Cruises, Wolgan Valley Resort & Spa and Blue Mountains Lithgow & Oberon Tourism. Source = e-Travel Blackboard: N.J NSW travel leaders have released plans to sponsor up to ten tourism operators to attend a Tourism Australia organised tradeshow in India.Tapping into the growing travel market, the three day event will kick off on 25 August and will expose agents and key buyers in India to NSW.“The trade mission will provide the ideal platform to showcase the diverse appeal of our State, highlighting the wealth of tourism experiences, cultural and natural attractions on offer in Sydney and regional NSW,” Destination NSW tourism executive director Lyndel Gray  said.“At least 100 Indian buyers from key markets will attend the three-day mission, and those buyers are from agencies that have invested in training their staff under the Aussie Specialist Program.” According to Ms Gray up to 65,000 visitors from India travelled into NSW for the year ending December 2010, a 18.4 percent increase on the 2009 period.The tourism executive explained that the region is an important target for Australia’s tourism industry because over the same year travellers from India injected up to $2.8 million in spending, a 35.5 percent rise on 2009.“The number of Indian visitors to Australia is expected to grow at around 9 per cent per annum over the next decade and we are keen to make sure that Sydney and NSW continue to be their number one preferred destination,” she explained.last_img read more

Travel disruptions made easy with agents FLT

first_imgBeat travel delay stress with an agent Flight disruptions keeping you from a holiday or important business trip? Well waiting the commotion out could keep you from spending a bucket load in rebooking fees and spare you from lengthy airport queues.A Flight Centre five step guide to dealing with flight schedule turbulence highlighted that with the industry “accustomed to dealing with unexpected events” travellers are better off waiting until the storm settles rather than rushing out to change travel plans. The guide stressed that “generally” airlines are able to resume normal operations quite quickly “depending on the disruption” and travellers who rush to rebook a delayed flight usually end up worse-off than those who stick it out.“By waiting, you will also avoid the frustration of the inevitable lengthy on-hold queues that occur immediately after an event and, potentially, additional charges that may apply if you choose to amend a booking that is still months away,” the guide read.Booking or dealing with an agent is the second best resource for a traveller to have on hand during travel turbulence.According to the guide an agent will not only help rearrange bookings, but also assist travellers bypass hours of waiting on the phone for call centres to pick up.“During the recent Qantas flight groundings, Flight Centre’s corporate travel teams, FCm Travel Solutions and Corporate Traveller, spent an entire day ensuring that they called all clients flying with Qantas,” Flight Centre New Zealand executive general manager Mike Friends said.  “While the first priority was helping Flight Centre customers, the company was also able to help other travellers who had either booked directly or with online travel agencies and needed urgent assistance.” Keeping stress levels down and not rushing ahead will also lead to the realisation of step number three, look for alternative flights.If needed home or at a meeting desperately, Flight Centre said the “solution may be as simple as switching to an alternative airline”.Travellers will be able to bypass cancellations by looking for alternative flight routes or even other means of transport including charter flights, buses, ferries or hire cars.Getting to know your airline and insurance policies is another key tactic to keep the big bucks in your pocket.According to the agent’s Group, travellers are often unaware of “their rights if flights are cancelled or delayed for extended periods”.The Group’s five tips read that while airlines generally accommodate travellers during flight disruptions, it is not always the case and it “pays” to have a backup travel insurance policy.While the final step to ease your way through flight disruptions is to always remember the difference between cancelling and amending your booking.“Historically, when an issue has arisen to temporarily disrupt travel plans, airlines have generally been willing to waive the booking amendment fees that would normally apply,” FLT travel tips read. “This has allowed travellers to either postpone their holidays and travel later or to switch to alternative destinations without incurring significant costs. “Charges can, however, increase substantially if you choose to cancel your plans altogether, which is generally the least common option for travellers.“If you’re thinking of cancelling or amending, it pays to weigh up the potential costs.” Recently caught up in flight disruptions?  Tell us how you survived the ordeal. Source = e-Travel Blackboard: N.Jlast_img read more

Emirates AFTA launch travel consultant scholarship

first_imgWith nearly 80 percent of the airline’s revenue from Australia derived from trade, Emirates divisional senior vice president of commercial operations east Barry Brown said the scholarship will help “nurture” young talent and support the growth of the travel trade industry in the country. AFTA and Emirates will release further details shortly and the winner will be announced at the NTIA 2014 event. Jayson Westbury, AFTA and Barry Brown,Emirates at the AFTA NTIA evening Emirates and the Australian Federation of Travel Agents (AFTA) have launched a new scholarship to assist and train up-and-coming travel agents. Additionally, the scholar will receive a Business Class trip for two to Dubai to meet key leaders at Emirates and experience a five night itinerary in the city as well as receive a trip to Melbourne to take in the Emirates Melbourne Cup.center_img To enter, the travel agent will need to be employed by an AFTA member travel agency and will need to attend a judging interview and demonstrate a need for further education. The Emirates National Travel Consultant Scholarship will provide one recipient with a contribution of up to AU$10,000 towards an education course to build their career. Source = ETB News: NJlast_img read more

LOT Polish Airlines enhances offering

first_imgLOT plans to launch a new mobile version of its website, partnered with a booking platform, with applications for android, iOS and various forms of tablets utilising ‘cloud computing’ technology. LOT Polish Airlines has made improvements to its on-board services and also plans to update its web and mobile technology. “It satisfies the needs of a new era of IT solutions, where responsiveness, effectiveness and efficiency are the priority, while increasing data security.” Improvements made to on-board services and mobile technology. Although the majority of economy class (78 percent) and business class (89 percent) passengers stated they did not perceive the need for quality or service improvements when surveyed, LOT Polish Airlines decided to go ahead with the upgrade. “I would like LOT to be perceived as a friendly, modern and open airline and that is why we introduce many additional services.” The airline will enhance its on-board catering options and offer additional services such as Taxi&Fly, limousines, meet and greet, pre-orders and duty-free; all under the new Air Kiosk. “Cloud computing is a model for IT environment management, with solutions borrowed from the ideology of functioning in Internet,” LOT Polish Airlines chief executive Sebastian Mikosz said. “We listen to our passengers and we create changes they really expect,” Mr Mikosz said. From 10 August 2013 all long-haul flights will be operated solely by Boeing Dreamliner aircraft. Source = LOT Polish Airlineslast_img read more

Tourism Authority of Thailand sponsors Tennis Festival Sydney 2017

first_imgTourism Authority of Thailand sponsors Tennis Festival Sydney 2017Tourism Authority of Thailand sponsors Tennis Festival Sydney 2017 As part of its ongoing commitment to promote Thailand to the Australian market, the Tourism Authority of Thailand (TAT) Sydney Office took part recently in “Tennis Festival Sydney”, held at Entertainment Quarter on 16-29 January, 2017.The Tennis Festival Sydney is a free family friendly event focused on engaging tennis clubs, communities and fans. Tennis fans could relax in the comfortable seating area and catch all the latest Australian Open action on the spectacular outdoor LED super screen. Adding to the festive atmosphere, a variety of food trucks, a licensed bar and free Thai massage booth sponsored by TAT. Visitors were also encouraged to get in on the action, pick up a racquet and play a game on the mini courts or have a game of table tennis with the kids.TAT was also on hand at the Amazing Thailand booth to give visitors useful information about travel to Thailand also showed the latest TV advertisement on the big screen during weekends and Australia Day.The objective of TAT’s collaboration with Tennis Festival Sydney was to create awareness of Thailand as a premier holiday destination, and to show a commitment to the Australian market through support of various initiatives and activities such as this.According to TAT Sydney Regional Director, Ms.Rujiras Chatchalermkit, “TAT Sydney Office was welcomed by Tennis Festival Australia at this inaugural event, as a major sponsor. We are very glad to be a part of bringing the 2017 Australian Open to Sydney, offering many activities to visitors at the Entertainment Quarter, Moore Park.“TAT will continue to pursue strategic partnerships such as this to promote Thailand to the Australian market. We aim to support several activities such as this in Australia.” Tourism Authority of ThailandNominate TAT – NTIA Best Tourist Board – Click Here About the Tourism Authority of ThailandTourism Authority of Thailand (TAT) is a Thai National Tourist Office responsible for promoting Thailand as a premier tourist destination.The Sydney office is responsible for the regional area of Australia, New Zealand and South Pacific. We provide information and support to the public, as well as media, wholesalers, airlines, travel agents and other partners.Contacts:Trade enquiries:               Sherly@thailand.net.auGeneral enquiries:          info@thailand.net.auTourism Authority of ThailandSuite 20.02, Level 20, 56 Pitt Street, Sydney, NSW 2000, AustraliaTel. (612) 9247 7549Blog:                http://thailand.net.au/Facebook:       www.facebook.com/HugThailandInstagram:       @HugThailandTwitter:            @HugThailand Source = Tourism Authority of Thailandlast_img read more

TTF welcomes new advisory board members

first_imgTTF welcomes new advisory board membersAustralia’s leading tourism and transport advocacy group, the Tourism & Transport Forum Australia (TTF), has today announced that four new members will join its Advisory Board.Chief Executive Margy Osmond said the new additions to the Advisory Board will be great assets for TTF as the organisation continues to promote the importance of the visitor economy and stays at the forefront of the debate on the issues impacting the tourism and transport sectors.“These appointments provide a wealth of additional experience and expertise to the organisation, complementing an incredibly strong group of existing Board Members,” Ms Osmond said.“Rachel Argaman is the Chief Executive Officer of TFE Hotels and brings to the Board over 20 years of international experience at executive management level in the travel and hospitality industry.“Sture Myrmell is the President of Carnival Australia and has been a leading figure in global cruising with Carnival Corporation for nearly 25 years, including the past 10 years at P&O Cruises Australia where he was instrumental in the brand’s evolution to a contemporary product that reflects modern Australia.“Sally Fielke is General Manager Corporate Affairs at Sydney Airport where her key focus is driving Sydney Airport’s leadership role in tourism and working collaboratively with stakeholders and industry partners to grow tourism to Sydney, NSW and Australia. With a background in law, hotels and aviation, Sally brings almost 20 years of industry experience to the table.“Tom Walker is the Senior Vice President and Managing Director of Cubic Transportation Systems Asia-Pacific where he has led a number of once-in-a-generation reforms, including the implementation of the award-winning Opal smartcard ticketing system in NSW.“As TTF looks to 2018 and beyond, our role in leading the national debate will be more important than ever, with governments at all levels increasingly looking to industry organisations such as TTF for leadership and support on the policy reform agenda Australia needs to pursue to guarantee the tourism and transport sectors reach their potential – and our new Board Members will play a critical role in achieving this aim.“I would also like to thank outgoing Board Members Allan Vidor, Ann Sherry AO and Kerrie Mather for their tremendous role in championing the needs of the tourism and transport sectors throughout their time as members of the TTF Advisory Board.”Source = Tourism & Transport Forum Australia (TTF)last_img read more

Ministry of Civil Aviation launches a new digital experience for air travellers

first_imgThe Ministry of Civil Aviation has added a Digital experience for air travellers through DigiYatra platform. The ‘DigiYatra’ is an industry-led initiative coordinated by the Ministry to transform the nation into a digitally empowered society. This follows Air Sewa which brought together all the stakeholders on a common platform for handling customer grievances and disseminating real-time data.The Union Minister for Civil Aviation, P Ashok Gajapathi Raju expressed hope that the initiative of ‘DigiYatra’ will transform the flying experience for passengers and position Indian Aviation amongst the most innovative air networks in the world.The Minister of State for Civil Aviation, Jayant Sinha recently launched the report on ‘DigiYatra’, stating that the initiative aims to bring together entire industry to develop a digital ecosystem that will deliver Indian customers a seamless, consistent and paperless service experience at every touch point of their journey.Sinha informed that the platform will be built on four key pillars like Connected Passengers, Connected Airports, Connected Flying and Connected Systems which can make it possible over a period of time for passengers to:– Plan their trips efficiently by identifying price trends and estimate future airfares at the time of ticket booking,– Optionally link their Aadhaar to airlines and other ecosystem players at the time of booking for faster airport entry and automated check-ins without requiring any paper-based interventions,–  Walk-through security scanners swiftly owing to advanced biometric security solutions,– Receive relevant information pertaining to various facilities, protocols, airline timings, queue lengths at airports etc.,– Engage in customised digital offerings at experience zones,– Get real-time notifications about congestion and delays to have greater visibility on the next step of journey,– Conveniently navigate through the airport using digital guidance systems, interactive kiosks and augmented reality apps,– Stay connected during flights and indulge in immersive experiences. Also book in-flight services and destination based offerings digitally,– Get a prompt when their luggage reaches the baggage claim belt, and– Submit grievances, share experiences and provide feedback.last_img read more

Hyatts presence in India to expand from 19 cities to 27 cities

first_imgHyatt Hotels Corporation announced that 2019 will mark record growth for Hyatt in India. Expansion plans foresee the addition of over 2,100 guest rooms through the opening of more than 14 new properties over the next 24 months. Aside from growth in the larger capital cities, the emphasis will be on leisure and cultural destinations with a focus on emerging cities within India.An increasingly favourable business climate, heightened tourism opportunities along with relaxed visa rules and a prospering upper-middle class has witnessed a general demand for growth in the hospitality industry in India. This expansion includes hotels in eight new markets in the country, thereby establishing Hyatt’s brand presence across 27 cities in India over the next 24 months.“Hyatt is one of the longest-running international hotel management brands in India. The first Hyatt hotels in India opened over 30 years ago,” said Dhruva Rathore, Vice President Development – India, Hyatt. “Our heritage and experience in this complex market, paired with the strong relationships we hold with local developers and owners has helped make India one of the top three growth markets for Hyatt globally.”This year’s expansion began with the introduction of the Hyatt Centric brand through the opening of the Hyatt Centric Candolim Goa. New to the Hyatt portfolio as part of the Two Roads Hospitality acquisition in November 2018, the Alila brand also added two new properties in India, located in Diwa Goa and Fort Bishangarh. Later in the year, Hyatt plans to expand its brand footprint in Kerala with the opening of Hyatt Regency Kochi Malayattoor, a resort property on the banks of the Periyar River and Hyatt Regency Thrissur, providing travellers with the first premium hotel in Thrissur. Hyatt also plans to add its first resort in the foothills of the Himalayas with the anticipated opening of Hyatt Regency Dharamshala Resort in the second half of 2019. Gurgaon will also be in focus later in 2019, with the scheduled opening of Grand Hyatt Gurgaon. These hotels will add over 1,000 guestrooms to Hyatt’s existing portfolio in India and will establish its brand presence in four new markets.“For Hyatt, India has high growth potential and remains a market where we can expand our brand representation. Being focussed on intentional growth gives us a unique edge as Hyatt can differentiate by having the right assets in its portfolio,” said Sunjae Sharma, Vice President Operations – India, Hyatt. He added, “We look forward to collaborating with owners who want personal, flexible relationships and to stand out in a slightly overcrowded market. Most importantly, we want to be where our guests are travelling, and our growth strategy is in line with their preferred destinations.”last_img read more

FOMC Keeps Interest Rates at 0

first_imgFOMC Keeps Interest Rates at 0% in Government, Origination, Secondary Market, Servicing Share Acknowledging improvements in the larger economy, the “”Federal Open Market Committee””:http://www.federalreserve.gov/monetarypolicy/fomc.htm said Tuesday that it would keep a heel on zero interest rates and continue shepherding funds from mortgage-backed securities into agency mortgage-backed securities.[IMAGE]The rate for federal funds remains between zero interest and .25 percent since December, and follows an earlier decision by the Fed to buy up $400 billion in Treasuries to ensure lower borrowing costs.””Consistent with its statutory mandate, the[COLUMN_BREAK]Committee seeks to foster maximum employment and price stability,”” the FOMC said in a statement. Chicago Fed chief Charles Evans dissented in a round of votes, citing his preferences for “”additional policy accommodation”” in lieu of needed changes from Europe.””The Committee continues to expect a moderate pace of economic growth over coming quarters and consequently anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges to be consistent with its dual mandate,”” it added.Europe remains a concern to the Fed. French President Nicholas Sarkozy and German Chancellor Angela Merkel made headlines for their roles in negotiating a stronger fiscal framework for the continent, which analysts fear may infect the broader global economy as debt-saddled nations near default.Whither the Fed’s actions into the future?””The Committee will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools to promote a stronger economic recovery in a context of price stability,”” it said.center_img Agency Debt Agents & Brokers Debt Crisis Euro European Union Federal Reserve Lenders & Servicers Mortgage-Backed Securities Processing Service Providers 2011-12-14 Ryan Schuette December 14, 2011 447 Views last_img read more

DoddFrank Comes Under Fire at Congressional Hearing

first_imgDodd-Frank Comes Under Fire at Congressional Hearing Agents & Brokers Attorneys & Title Companies Bailouts Bank Failure Consumer Financial Protection Bureau Dodd-Frank FDIC Housing Affordability Investment Investors Lenders & Servicers OCC Politics Processing Proprietary Trading Regulation Richard Cordray Senate Banking Committee Service Providers TARP Treasury Department Volcker Rule 2012-06-08 Ryan Schuette The Dodd-Frank Act fell under scrutiny at a hearing of the “”Senate Banking Committee””:http://banking.senate.gov/public/index.cfm?FuseAction=Home.Home Wednesday, with lawmakers from the right charging that the reform law will impose arbitrary rules that limit consumer choice and prevent an economic recovery.[IMAGE]The huge $3 billion trading loss that befell “”JPMorgan Chase””:http://www.jpmorganchase.com/corporate/Home/home.htm in May hovered over much of the hearing. Committee chairman Sen. “”Tim Johnson””:http://www.johnson.senate.gov/ (D-South Dakota) opened the hearing by saying the Chase loss “”is a clear reminder that Wall Street continues to need better risk management, vigorous oversight and, if the rules are broken, unyielding enforcement.””””Consumer Financial Protection Bureau””:http://www.consumerfinance.gov/ (CFPB) Director Richard Cordray appeared before the committee ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô the eighteenth time a representative of the agency to do so ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô in defense of the bureau’s recent moves to hire new examiners and regulate the mortgage marketplace.[COLUMN_BREAK]But much of the light fell on interagency efforts to finalize the controversial Volcker Rule, a rulemaking requirement under Dodd-Frank that bans short-term proprietary trading by systemically important financial institutions like Chase.””The Volcker Rule alone is staggering in its length and complexity,”” Sen. “”Pat Toomey””:http://www.toomey.senate.gov/ (R-Pennsylvania) told regulators, vaguely referencing exceptions to the rule and rulemaking “”inventions”” by regulators. “”It’s staggering. I’m concerned that it’s going to limit the ability of banks to manage risk. It’s going to have a huge cost. It’s going to reduce liquidity in the markets.””He said that Dodd-Frank so far includes 398 rulemaking requirements, 110 of which have been finalized by regulators, leaving nearly 300 other rules to complete or propose.The lawmaker began a testy exchange at one point with Comptroller of the Currency “”Thomas Curry””:http://www.occ.treas.gov/about/who-we-are/comptroller-of-the-currency/bio-thomas-curry.html.Addressing “”FDIC””:http://www.fdic.gov/ Acting Chairman “”Martin Gruenberg””:http://www.fdic.gov/about/learn/board/board.html, he said that he observed the federal regulator saying in a recent speech that “”‘the typical path toward the failure of an insured bank starts with bad loans.’ The biggest risk of banking is lending and the risk inherent to that process.””When Curry said that the lending process would receive “”considerable focus,”” Toomey interrupted him by saying, “”That’s what I thought. Lots of regulation. Documentation. Concentration requirements. Supervision of activities.””Cordray said that the CFPB soon means to finalize a “”larger participants”” rule that will clarify regulatory requirements for banks and nonbanks. Sharecenter_img June 8, 2012 427 Views in Government, Origination, Servicinglast_img read more

NAHB Production to Pick Up Speed in 2013 as Demand Increases

first_imgNAHB: Production to Pick Up Speed in 2013 as Demand Increases December 21, 2012 461 Views in Data, Origination 2012’s upward trends in most housing indicators point to continued growth in the new year–but the road to recovery isn’t clear yet, the “”National Association of Home Builders””:http://www.nahb.org/ (NAHB) says in its 2013 outlook.[IMAGE]””Consistent, positive reports on housing starts, permits, prices, new-home sales and builder confidence in recent months provide further confirmation that a gradual but steady housing recovery is underway across much of the nation,”” said NAHB chief economist David Crowe. “”However, stubbornly tight lending standards for home buyers and builders, inaccurate appraisals and proposals by policymakers to tamper with the mortgage interest deduction could dampen future housing demand.””Crowe notes the market is transitioning from a very low demand level to a case where supply “”will start being the problem.”” As new homes are built to address supply concerns, the new home stock is expected to take a much more active role in the recovery.One major contributor to recent rises in demand is the growth in household formations. In the early part of the decade, the country averaged 1.4 million new households each year. The housing downturn brought that down by nearly two-thirds, but households now are being formed at a pace of nearly 900,000 per year.””We’re not up to normal, but this is adding to demand for housing,”” Crowe said.[COLUMN_BREAK]As household formation is picking up the pace, builder confidence is growing right along with it. The NAHB/Wells Fargo “”Housing Market Index””:https://themreport.com/articles/builder-confidence-up-again-in-december-2012-12-18, a measure of builder confidence in the single-family market, now stands at 47 after eight straight months of gains. The midpoint of the index is 50 (indicating a balance of builders who view the market as either good or bad), a level neither seen nor surpassed since April 2006.Perhaps more encouraging is the substantial rise in the NAHB/First American “”Improving Markets Index””:https://themreport.com/articles/list-of-improving-markets-surges-to-201-in-december-2012-12-07 (IMI) over the last year. The index recognizes markets that have made considerable and sustained gains (from their respective troughs) in employment, prices, and housing permits. When the index first launched in September 2011, it contained 12 metro areas (out of 360); as of December 2012, the list stands at 201.””One reason we have seen such a significant jump in the IMI is because house prices are beginning to recover,”” Crowe said. “”House prices bottomed out early in 2011 and since early 2012 we’ve seen a 6 percent increase on a national basis.””On the production side, multifamily production is “”well on its way, back to 69 percent of normal,”” Crowe says, while the single-family market stands at only 40 percent of what is considered typical. Having said that, NAHB projects single-family home starts will climb to 534,000 units in 2012, up 23 percent from 2011. The association forecasts further gains in 2013, predicting a 21 percent rise to 647,000 units. After that, it’s an estimated 837,000 units (a 29 percent rise) for 2014.Multifamily production is also expected to continue improving, but at a more modest pace as the market approaches normal levels: The NAHB estimates 233,000 units in 2012 (a 31 percent year-over-year increase), 270,000 in 2013 (a 16 percent increase), and 294,000 in 2014 (a 9 percent increase).Meanwhile, new single-family home sales are expected to climb from 307,000 in 2011 to 367,000 in 2012, a 20 percent gain. The association anticipates an additional 22 percent climb to 447,000 in 2013 and a 36 percent rise to 607,000 in 2014.center_img Agents & Brokers Attorneys & Title Companies Home Sales Homebuilders Housing Starts Investors Lenders & Servicers National Association of Home Builders Service Providers 2012-12-21 Tory Barringer Sharelast_img read more

Mortgage Rates Hover Following Fed Announcement

first_img in Daily Dose, Data, Headlines, News, Secondary Market Share Mortgage Rates Hover Following Fed Announcement Just as the Federal Reserve stuck to its course on bond purchases this week, mortgage rates too remained more or less steady, measures show.Freddie Mac released Thursday the results of its Primary Mortgage Market Survey for the week ending June 19, recording an average interest rate of 4.17 percent (0.6 point) for a 30-year fixed-rate mortgage (FRM), down from 4.20 percent last week. A year ago, the 30-year FRM averaged 3.93 percent.The 15-year FRM was also down, albeit only 1 basis point, averaging 3.30 percent (0.5 point) for the week.Shifting to adjustable-rate mortgages (ARMs), the average rate for a 5-year Treasury-indexed hybrid ARM was 3.00 percent (0.4 point) this week, falling from 3.05 percent. The 1-year ARM, on the other hand, ticked up to 2.41 percent (0.4 point) from 2.40 percent previously.A year ago, interest rates were on their way up on speculation that the Fed may soon start tapering its bond stimulus. Now that the central bank is on track to potentially end its stimulus purchases by the end of the year, rates have actually shown little movement, defying expectations.While the first quarter’s economic contraction is partly responsible for rates staying put, analysts at finance site Bankrate.com say developments overseas are also having an effect.”[A]lthough the Fed is buying fewer bonds, the ongoing stimulus efforts of the European Central Bank have driven interest rates so low on the other side of the Atlantic that many overseas investors have piled into U.S. Treasuries, filling the void left by the Fed and keeping both bond yields and mortgage rates at low levels,” they said.As for its own national survey, Bankrate captured the 30-year fixed at an average 4.33 percent, down a point, while the 15-year fixed was up the same amount 3.44 percent.The 5/1 ARM remained unchanged at 3.37 percent, meanwhile.center_img June 19, 2014 406 Views Adjustable-Rate Mortgage Bankrate Federal Reserve Fixed-Rate Mortgage Freddie Mac Mortgage Rates 2014-06-19 Tory Barringerlast_img read more

FHFA Revises its Minority and Women Inclusion Regulations

first_img Diversity & Inclusion FHFA 2016-10-19 Seth Welborn in Daily Dose, Data, Featured, News FHFA Revises its Minority and Women Inclusion Regulations The Federal Housing Finance Agency (FHFA) announced Wednesday the issuing of a Notice of Proposed Rulemaking. Now the agency is seeking comments on proposed amendments to its Minority and Women Inclusion regulations. In 2010, FHFA adopted regulations to facilitate implementation of the requirement of the Housing and Economic Recovery Act of 2008 to promote diversity and inclusion in all FHFA and the GSEs’ businesses and activities. The proposed amendments further clarify the scope of the regulated entities’ obligation to promote diversity and inclusion.The proposed amendments would first require the regulated entities to engage in diversity and inclusion strategic planning by developing stand-alone plans or by incorporating diversity and inclusion into their existing strategic planning processes. They would also encourage the regulated entities to expand contracting opportunities for minorities, women, and individuals with disabilities through subcontracting arrangements.Likewise, these amendments would require the regulated entities to amend their policies on equal opportunity in employment and contracting by adding sexual orientation, gender identity, and status as a parent to the list of protected classifications.They would additionally require the regulated entities to provide information in their annual reports to FHFA about their efforts to advance diversity and inclusion through capital market transactions, affordable housing and community investment programs, initiatives to improve access to credit, and strategies for promoting the diversity of supervisors and managers.FHFA invites interested parties to submit comments on all aspects of the Notice of Proposed Rulemaking within 60 days of publication in the Federal Register.This isn’t the only work the mortgage and housing industry is doing to promote diversity and inclusion, though. The American Mortgage Diversity Council (AMDC), an independent membership organization focused on advancing the conversation of diversity and inclusion within the mortgage industry, has introduced a digital library featuring diversity and inclusion articles with leading news assembled by various government and media organizations.The library will be a resource for the industry to find articles in the following categories: regulatory, advisory, statistical impacts of diversity, workforce development, supply chain management, and lender impacts.AMDC is also accepting applications for the 2016-2017 Mortgage Industry Diversity and Inclusion Directory.The Diversity and Inclusion Directory is a collection of company profiles that are minority and women owned or operated. The directory will be available online and will have limited print distribution to servicers, government agencies, and suppliers that are looking to engage diverse companies in supply chain.To learn more about the work AMDC is doing for diversity and inclusion in the industry, click HERE.To view the AMDC Digital Library, click HERE.Editor’s Note: The Five Star Institute is the parent company of AMDC, MReport, and TheMReport.com.center_img October 19, 2016 645 Views Sharelast_img read more

Ginnie Mae Asks Lenders to Address Churning

first_imgGinnie Mae Asks Lenders to Address ‘Churning’ Affordable Ginnie Mae homes HOUSING Lending mortgage Refinance risks 2018-02-08 Radhika Ojha February 8, 2018 684 Views Ginnie Mae, the government-owned corporation that attracts global capital into the housing finance system, has notified a small number of issuers in the Ginnie Mae multi-issuer mortgage-backed security (MBS) pool to take steps to address churning in its MBS program, the company said in a release on Thursday. Ginnie Mae’s efforts in this area have been designed to keep mortgage rates affordable for veterans and first-time home buyers, as well as to preserve the liquidity of the security around the globe. “We have an obligation to take necessary measures to prevent the lending practices of a few from impairing the performance of our multi-issuer securities, and thus raising the cost of homeownership for millions of Americans,” said Michael Bright, EVP, and COO at Ginnie Mae. Issuers who have been notified are expected to deliver a corrective action plan that identifies immediate strategies to bring prepayment speeds in line with market peers. In the event issuers are unable to demonstrate a path to improved performance, they would be restricted from accessing Ginnie Mae’s multi-issuer pools.“By addressing the anomalous performance of a few lenders, Ginnie Mae is acting to protect veterans, the broader Ginnie Mae program, the American taxpayer and the consumers we serve. We expect issuers receiving these notices to respond quickly, produce a corrective action plan and come into compliance with our program,” Bright said.“Churning” is a process where a lender solicits an existing borrower to refinance their current mortgage for a better offer with a different or the same investor. Some lenders use this practice to refinance a loan multiple times and generate profits for lenders.This notice from Ginnie Mae comes on the heels of its recent announcements on changes to its APM 17-06, Pooling Eligibility for Refinance Loans and Monitoring of Prepay Activity, and APM 18-02, Risk Parameters Applicable to Single Family Issuers programs.“We are focusing on outliers that are harming Ginnie Mae’s program, not at issuers that genuinely help support responsible lending,” Bright said. “The vast majority of our issuers fall squarely in the latter category, and we look forward to continuing to work with them to provide refinance opportunities to veterans, rural communities, and low to moderate-income homeowners.”center_img Share in Daily Dose, Featured, News, Secondary Marketlast_img read more

The Next Recession on the Horizon

first_imgThe Next Recession on the Horizon in Daily Dose, Data, Featured, News 8 days ago 211 Views HOUSING Recession Zillow 2019-07-25 Seth Welborncenter_img According to experts, the next recession is on its way, and could begin next year. According to the Zillow Home Price Expectations Survey, conducted quarterly by Pulsenomics, a panel of more than 100 real estate economists and experts concluded that the next recession will likely begin in 2020.Half of Zillow’s survey respondents said that the next recession will start in 2020, and around 19% stated that Q3 2019 will likely be the beginning of the recession. Another 35% of experts think the current expansion will end in 2021.According to Zillow, trade policy will be a driving force behind the next recession, with only a few experts, just 12 respondents, pointing toward housing as a significant factor.”Housing slowdowns have been a major component, if not catalyst, for economic recessions in the past, but that won’t be the case the next time around, primarily because housing will have worked out its kinks ahead of time,” said Skylar Olsen, Zillow Director of Economic Research. “Housing markets across the country are already heading into a potential correction a solid year before the overall economy is expected to experience the same. The current housing slowdown is in some ways a return to balance that will help increase the resiliency of the housing market when the next recession does arrive.” Housing may not be the cause, but it will likely still feel the impact of the next recession. About 51% of survey respondents stated that home buying demand will be somewhat or significantly lower in 2020 compared with 2019, and Zillow notes that Homes will likely stay on the market longer and bidding wars will become less common. However, a recession may not result in a plunge in home values. Home prices are predicted to rise 4.1% in 2019, and 2.8% in 2020, down from the Q2 2018 prediction of 2.9% growth.”More than any other factor with the potential to impact home-buying demand through 2020, mortgage rates are viewed by our expert panel to be most significant,” said Pulsenomics Founder Terry Loebs. Sharelast_img read more

It might be great for the economy but tourism see

first_imgIt might be great for the economy, but tourism seems to have been particularly irritating this northern summer for many European destinations.Rome, Milan, Florence, Venice, Paris, Hvar in Croatia, Athens – and now Barcelona in Spain – some of the destinations recently forced to take action to regulate tourist behaviour in the wake of their citizens’ discontent.Barcelona has joined the growing voices of anti-tourism sentiment this summer. On Tuesday, a group of protesters there slashed tyres on locked tourist bikes that sit in public bike racks and can be accessed via a smartphone app – in a deliberate act of sabotage.Last week, anti-tourism protesters in the city targeted an open-top tour bus as it pulled up outside the Camp Nou stadium of the city’s iconic football team FC Barcelona. The bus tyres were slashed, and passengers were harangued, many of them children who were distressed by the angry and unexpected assault. The attackers also sprayed the bus with the words ‘El Turisme Mata Els Barris’ – “Tourism Kills Neighbourhoods.”Locals and officials in Venice also say they are fed up with bulk tourism – cruise ship passengers taking shore excursions en masse and the culture of what Italy’s culture minister, Dario Franceschini, calls ‘eat and flee’ tourism. Europetouristslast_img read more

Regent Seven Seas Cruises RSSChas announced its

first_imgRegent Seven Seas Cruises (RSSC),has announced its first-ever luxury connoisseur webinar series, running throughout July and August 2018, for travel agents in Australia and New Zealand.“The series is packed with information and handy tips that will see participants become luxury connoisseurs,” said Ms. Lisa Pile, Vice President Sales, Australia and New Zealand at Regent Seven Seas Cruise,” said Ms. Lisa Pile, Vice President Sales, Australia and New Zealand at Regent Seven Seas Cruises. “The webinar series is designed to make those who attend an expert on all things Regent Seven Seas Cruises, while also demonstrating what sets us apart from other brands in the luxury cruising space – such as our all-balcony, all-suite accommodation and our unique offering as the most all-inclusive luxury line in the world. The first webinar in the series, taking place on Tuesday 17th July at 1:30PM AEST, is an overview of the brand titled ‘Introducing Regent Seven Seas Cruises’ hosted by NSW Business Development Manager for RSSC Linda Seiersen. To register for the first webinar in the series, CLICK HERE.A range of webinars across a variety of topics will follow, including ‘Marketing Central’ hosted by QLD Business Development Manager for RSSC, Elsa McLean and ‘2020/21 Season Launch’ hosted by VIC Business Development Manager for RSSC, Paige Kirk, to name but a few. The Regent Seven Seas Cruises marketing portal contains assets that travel agents can utilise to promote what they learn from the webinar series to their clients. agentscruiseRegent Seven Seasresourcestrainingwebinarlast_img read more

Tight end Rob Housler may need some help in the bl

first_imgTight end Rob Housler may need some help in the blocking department, but his offensive prowess has been clear. He caught a touchdown pass against Oakland and led the team in receptions with five in Green Bay.Sam Acho, Anthony Sherman and David Carter all look likely to make the squad as well. Sherman actually has a shot at starting.The other two draftees, Quan Sturdivant and DeMarco Sampson, may be fighting for a roster spot, but they have a shot.Having a strong draft was important to the Cardinals this year and it looks like they may have made it count. Cardinals expect improving Murphy to contribute right away Nevada officials reach out to D-backs on potential relocation Top Stories As the Cardinals try to recover from the season-ending injury to rookie running back Ryan Williams, they can take heart in knowing they still have a solid draft class.According to ESPN’s NFC West blog, the loss of Williams does not affect the success of the Cardinals’ 2011 draft.First-rounder Patrick Peterson is expected to be a starter, if not by Week One, then very early in the season. He’s shown over the past two preseason games why he was touted as one of the best players available in the draft.center_img D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ What an MLB source said about the D-backs’ trade haul for Greinke Comments   Share   last_img read more