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Fly THAI and overnight in Bangkok FREE

first_imgSource = THAI Airways International – Perth THAI Free Stopover in Bangkok www.thaiairways.comFly THAI and overnight in Bangkok FREEFly Thai Airways International and claim a complimentary overnight stay in Bangkok, courtesy of the Tourism Authority of Thailand, staying at Dusit Thani Bangkok. This limited offer is valid for THAI travellers departing from Perth and completing their stopover in Bangkok by 30 September 2016.Follow these steps to claim the offer:Step One: Check the Terms & Conditions to see that this offer is right for you.Step Two: Book your trip with THAI to Japan, Korea, China, Hong Kong or Philippines via your preferred travel agent or online at www.thaiairways.comStep Three: Register here with your details to claim your stopover voucher for Dusit Thani Bangkok.Step Four: Book the hotel quoting the allocated voucher number and get ready to go!Find out more about the hotel: Dusit Thani Bangkok Book additional hotel accommodation in Thailand or your destination here and book your arrival/departure transfers here.Are you a member of THAI’s award-winning Royal Orchid Plus, Frequent Flyer programme?   Earn miles for your trip and join here to claim bonus miles for joining.Register your details here to claim your Bangkok stopover voucher.Download your very own copy of the Free Stopover Flyer here:  FREE Bangkok stopover at Dusit Thani Bangkok ex PerthHurry this offer is for a limited time only! THAI Airways InternationalFREE stopover in Bangkok Tourism Authority of ThailandDiscover Thailand here Dusit Thani Bangkokcheck out your hotel here last_img read more

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SITA introduces fast secure connectivity to Kenya Airways

first_imgSITASITA introduces fast, secure connectivity to Kenya AirwaysSITA, the global air transport communications provider, is to roll out faster, new-generation connectivity across Kenya Airways’ global network, a vital investment in infrastructure needed to support the airline’s renewed focus on cost optimization and airline modernization.Among Africa’s top three airlines, Kenya Airways is seeking to leverage SITA’s latest communication technology to drive new efficiencies in the management of its route network while ensuring the best passenger experience across the airline’s global footprint.Through SITA Connect, the airline will have access to high-speed, secure connectivity, linking employees and sales offices around the world to Kenya Airways’ central systems and applications to manage everything from reservations, check-in and boarding.With a global presence, SITA is able to meet the airline’s complete connectivity requirements with tailored solutions for each location. Central to the delivery is SITA’s AirportHub™, a shared connectivity platform already used in more than 300 airports in over 100 countries. Using SITA’s common-use infrastructure eliminates the complexity of dealing with local telecom providers while enabling Kenya Airways to connect securely to their central systems and applications from any airport in the AirportHub network.Mbuvi Ngunze, Group MD and CEO of Kenya Airways said: “As we seek to position Kenya Airways for the future, we needed a single communications partner that could take care of all our connectivity requirements no matter where we operate. SITA, with its truly global footprint and experience, provided us with a world-class solution supported by a local presence in each destination, connecting even the furthest outstation to our hub in Nairobi.”Hani El-Assaad, SITA President, Middle East, India and Africa said: “Today connectivity on demand is the lifeblood of any airline, ensuring the smooth and rapid exchange of information needed to support effective operations no matter where in the world an airline operates, the size of their operation or their business model. We have used our global experience and presence to provide Kenya Airways with the latest communication solution that is able to cater to their own specific requirements.”Kenya Airways flies to 53 destinations including 43 destinations in Africa, carrying more than 4 million passengers every year. SITASource = SITAlast_img read more

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Breakaway Travelclubs NEW cruise booking engine

first_imgL-R Paul Millan, Traveltek Regional Director, Tony Wilson, Breakaway General Manager, Anthony Cassar, Breakaway Managing DirectorBreakaway Travelclub’s NEW cruise booking engine.Breakaway Travelclub has today launched its NEW cruise booking engine which, an industry first, allows travel industry employees to search live availability and instantly book confirmed space cruises at industry rates.Anthony Cassar, Managing Director of Breakaway Travelclub, said “we have brought together the latest online technology with our expanded range of international industry rate cruises, to deliver live booking capability 24/7, for our verified industry members. This is always supported by our dedicated team of travel consultants ready to help”.Breakaway’s innovative new platform is powered by technology partner Traveltek whose Regional Director Paul Millan said “Traveltek are proud to partner with Breakaway Travelclub to launch an innovative cruise booking solution for the Australian & New Zealand travel industry. Through collaboration with some of the region’s leading cruise lines, travel industry members can now search and book industry rates online with just a few simple clicks”.A series of special deals are also on offer to launch the new site, including heavily discounted industry rates on Carnival Cruise Lines Australia and Royal Caribbean Cruises sailings, both bookable with instant confirmation 24/7. Breakaway Travelclub for more information, visitSource = Breakaway Travelclublast_img read more

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SWAPA condemns DOT approval of Norwegian Foreign Air Carrier Permit

first_imgSWAPASWAPA condemns DOT approval of Norwegian Foreign Air Carrier PermitThe Southwest Airlines Pilots’ Association (SWAPA) strongly condemn the short-sighted, under-cover-of-darkness decision by the U.S. Department of Transportation (DOT) to approve a foreign air carrier permit to Norwegian Air International (NAI).  This anti-worker decision runs afoul of the very rules that the Obama Administration itself negotiated and championed only six years ago.“By approving NAI’s application despite it being in direct violation of Article 17 bis of the EU-US Open Skies Agreement, the Obama Administration has unilaterally undermined every trade agreement the U.S. has ever signed – including the Open Skies agreements we have with more than 100 countries across the globe,” said SWAPA President, Captain Jon Weaks. “In the process, President Obama and Secretary Foxx have turned their backs on the tens of thousands of American workers employed in the aviation industry.”“To be clear, this decision gives a single foreign carrier an advantage unavailable to a single one of its competitors – including those in the U.S.,” explained Captain Weaks. “Norwegian Air International will possess an unparalleled advantage over U.S. carriers if allowed to proceed with its Flag of Convenience scheme. This reckless decision sets a dangerous precedent in aviation and further underscores the unwillingness to ensure a level playing field for American workers when executing trade agreements that have been a hallmark of the Obama Administration.”The decision comes on the heels of the American people electing a new president who has vowed to stand up for American workers and negotiate from a position of strength.  Just as he did with the Trans-Pacific Partnership and the Indiana Carrier plant, the men and women of SWAPA call upon President-elect Trump to intervene in the NAI decision and undo yet another trade blunder by President Obama.Weaks continued, “SWAPA is committed to protecting the careers of SWAPA pilots and will oppose any trade agreement that places U.S. workers at a disadvantage to foreign competitors. I urge the President-elect to weigh-in on this evening’s ill-advised decision and reverse the approval of NAI’s application. President Obama has yet again proven that he is unwilling to enforce trade agreements and protect U.S. workers, and SWAPA hopes that President-elect Trump will seize the opportunity to undo another Obama mistake.”Norwegian Air Shuttle (NAS), NAI’s parent company, currently flies to the U.S. using Norwegian crews, operating under Norway’s labor and social laws. NAS could expand its current operation to meet its growth plans but instead chooses to evade Norwegian labor and social laws and establish an Irish-based subsidiary. This scheme is in direct violation of Article 17 bis of the U.S.-EU Open Skies agreement.Finally, Captain Weaks noted that “the NAI subsidiary and its use of contract workers hired by a foreign staffing agency also poses potential serious safety risks. Crewmembers working under employment contracts with no direct line of communication to airline management often lack the ability to highlight potential safety or operational issues. Clear and open communication between frontline operators and airline management is critical to running a safe and efficient airline.”SWAPA condemns the DOT decision and calls upon President-elect Trump to preserve a fair and level playing field for U.S. workers by denying NAI the Foreign Carrier Permit unjustly awarded by President Obama.Located in Dallas, Texas, the Southwest Airlines Pilots’ Association (SWAPA) is a non-profit employee organization representing the more than 8,400 pilots of Southwest Airlines. SWAPA works to provide a secure and rewarding career for Southwest pilots and their families through negotiating contracts, defending contractual rights and actively promoting professionalism and safety. SWAPASource = Southwest Airlineslast_img read more

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Lonely Planet Names Australias Red Centre

first_imgLonely Planet Names Australia’s Red Centre One of 2019’s Top RegionsGlobal travel authority Lonely Planet has chosen The Red Centre, Australia as one of the world’s Top 10 Regions for next year in Lonely Planet’s Best in Travel 2019, released this morning.Best in Travel 2019 is Lonely Planet’s 14th annual agenda-setting collection of the world’s hottest destinations, experiences and trends for the year ahead.  The best-selling inspirational travel yearbook highlights the top 10 regions, cities and countries that Lonely Planet’s experts recommend travellers experience in 2019.The Red Centre, Australia is ranked fourth on the book’s list of Top 10 Regions 2019.“At the spiritual heart of Australia’s Red Centre is the country’s most recognised natural wonder, Uluru,” Lonely Planet says. “In 2019, this sacred site is finally closing to climbers, almost 150 years after explorers decided to ‘conquer the rock’. Instead, visitors will find that this World Heritage site – recognised for its outstanding natural and cultural values – conquers them.”“Learn about the unique world view of the traditional custodians of this place,” the book encourages, “and see the stars and the desert with new eyes. Explore Uluru-Kata Tjuta (Ayers Rock and the Olgas), Watarrka National Park (Kings Canyon) and Alice Springs nearby.”Lonely Planet’s Top 10 Regions for 2019 are:1. Piedmont, Italy2. The Catskills, USA3. Northern Peru4. The Red Centre, Australia5. Scotland’s Highlands and Islands6. Russian Far East7. Gujarat, India8. Manitoba, Canada9. Normandy, France10. Elqui Valley, ChileThe Northern Territory also features on another of the book’s top 10 lists for 2019 – Best New Openings – #3 Litchfield National Park: “The most visited park in Australia’s Top End, Litchfield is about to undergo extensive improvements to make it even more attractive to visitors seeking adventure. In total, there will be five new swimming spots, at least three new campgrounds and new routes for both mountain biking and 4WDs.”Other Australian destinations and attractions to be ranked on Lonely Planet’s Best in Travel 2019 lists are:Best New Places to Stay – #9 The Tasman, Hobart: “The Tasman’s doors aren’t opening until 3 June 2019 but it’ll be worth the wait. This luxury hotel is to be set within a group of heritage buildings, including Hobart’s grand, Georgian-style St Mary’s Hospital, built in the 1800s. The historical elements will be merged with modern artworks and cutting-edge glass and steel structures.”Best New Food Experiences – #4 Laura, Mornington Peninsula: “This sophisticated merging of food, wine and art on Point Leo Estate enjoys phenomenal sunsets from all angles. Named after a 7m-high cast-iron statue by Spanish sculptor Jaume Plensa, Laura offers views across sparkling Western Port Bay and its sculpture park, one of Australia’s largest privately owned collections.”Best New Attractions for Kids – #2 Live Wire Park, Victoria: “Billing itself as the ‘ultimate elevated adventure’, the park allows children aged between seven and 15 to take part in the Short Circuit, where they have to complete 26 activities involving obstacle courses and suspended trails through the Otway treetops.”In addition, Darwin’s Royal Flying Doctor Service attraction is highlighted in the book’s “Top Trends” feature on “Augmented Attractions”, while Queensland’s Electric Super Highway is showcased as one the “The Great Places for Electric Road-Tripping”.Each year, Lonely Planet’s Best in Travel lists start with nominations from Lonely Planet’s vast community of editors, researchers, locals and influencers, and ultimately are decided and ranked by a panel of judges. The outcome is an eclectic list of destinations with unique, compelling and topical reasons to visit in the year ahead – as well as underlying travel trends to look for.“These are the places to experience in 2019”, says Lonely Planet’s spokesperson Chris Zeiher. “They might be coming into their own, celebrating a once-in-a-lifetime event or simply have been overlooked for too long – whatever the reason, now is the time to plan a trip.”Lonely Planet’s Best in Travel 2019 landing page, www.lonelyplanet.com/best-in-travel, features tips and videos on visiting each destination as well as a chance to win a trip for two to Lonely Planet’s number-one city for 2019, Copenhagen. Most of the top 10 cities can also be explored with Lonely Planet’s Guides app.Other Best in Travel 2019 highlights include:Top 10 Countries 2019Sri LankaGermanyZimbabwePanamaKyrgyzstanJordanIndonesiaBelarusSão Tomé and PríncipeBelizeTop 10 Cities 2019Copenhagen, DenmarkShēnzhèn, ChinaNovi Sad, SerbiaMiami, Florida, USAKathmandu, NepalMexico City, MexicoDakar, SenegalSeattle, USAZadar, CroatiaMeknès, MoroccoBest Value Destinations 2019Southern Nile Valley, EgyptŁódź, PolandGreat Smoky Mountains National Park, USAMaldivesHouston, USAArgentinaBangladeshAlbaniaEcuadorSloveniaLonely Planet’s Best in Travel 2019Embargo: 10:01am (AEDT) / 8:31am (ACST), 23 October 2018Landing page: www.lonelyplanet.com/best-in-travelImages: Top 10 countries, cities, regions and best value lists available for media use with permissionInterviews: Lonely Planet spokesperson Chris Zeiher is available for interview on requestBehind-the-scenes: www.lonelyplanet.com/blog/2018/10/23/making-best-in-travelTrip competition: Chance to win a trip for two to Copenhagen, in association with Booking.com, Viator and World NomadsHashtag: #BestinTravelAbout Lonely PlanetLonely Planet is a leading travel media company and the world’s number one travel guidebook brand, providing both inspiring and trustworthy information for every kind of traveller since 1973. Over the past four decades, we’ve printed over 145 million guidebooks and grown a dedicated, passionate global community of travellers. Lonely Planet can be found on lonelyplanet.com, mobile, video and in 14 languages, nine international magazines, armchair and lifestyle books, ebooks and more. Visit us at lonelyplanet.com and join our 14 million followers on Facebook (facebook.com/lonelyplanet), Twitter (@lonelyplanet), Instagram (instagram.com/lonelyplanet) and Snapchat (@lonely.planet).Source = Lonely Planetlast_img read more

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Ethiopian Airlines to increase flights to Mumbai to double daily

first_imgEthiopian Airlines announced that it has finalised preparations to start double daily flights to Mumbai International Airport starting March 2015. The airline currently has daily flights to Mumbai and New Delhi.Both daily flights to Mumbai will be operated with the ultra-modern B787 Dreamliner aircraft, which offers passengers unparalleled onboard comfort with the largest windows in the sky, higher level of cabin air humidity greatly reducing fatigue, high ceiling, the latest in-flight entertainment system and much reduced noise.With the double daily flights to Mumbai, Ethiopian aims to provide optimal connectivity options for passengers travelling between India and its 49 destinations in Africa.Tewolde Gebremariam, CEO of Ethiopian Airlines Group said, “We are very bullish on the prospects of Africa-India market. By increasing our frequency to double daily to Mumbai and expanding our code share agreement with Air India, fellow Star Alliance partner with the inclusion of domestic points in India and major destinations in Africa, we aim to become the airline of choice for travel between Africa and India by offering seamless and convenient connections thru our main hub in Addis. Going forward, we plan to increase our current frequency to New Delhi and start operations to additional destinations in southern India.”last_img read more

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Tourism Australia to relaunch Aussie Specialist Program

first_imgTourism Australia is revamping its Aussie Specialist Program (ASP), in a move aimed at giving travel sellers globally the knowledge and skills to better promote and sell Australia.Details of the new-look program were unveiled on June 22 at this year’s Australian Tourism Exchange (ATE15) in Melbourne.The relaunch follows an extensive review of the global online training program and includes a new digital platform as well as training resources which will be shared by Tourism Australia and all eight of its state and territory tourism partners.Tourism Australia Managing Director John O’Sullivan said the changes were critical to the industry achieving its Tourism 2020 goals.Fundamental to the changes is a new digital platform, including a new website which features interactive training modules, itinerary suggestions, factsheets, latest industry news updates, destination FAQs and an interactive map. The site works across all mobile devices.As part of the ASP website relaunch, Tourism Australia’s Premier Aussie Specialist program will be extended to all key markets. The program, which incorporates the very top sellers within the Aussie Specialist Program, was previously only available in four key markets.In addition to the new website, a team of Aussie Specialist trainers is being recruited to help provide face-to-face training in key markets for frontline travel sellers.O’Sullivan said that underlying the changes was a fundamental recognition of the vital role played by frontline travel sellers in selling Australia. “Our research and experience tells us that traditional distribution channels remain critically important when it comes to selling Australia. Through these changes we are better equipping travel sellers with the knowledge and the skills to promote and sell Australia more effectively,” said O’Sullivan.O’Sullivan said a key principle behind the relaunch had been securing the support of all state and territory tourism bodies, enabling Australia to speak with “one voice” when promoting the country and its tourism product to the world.“The feedback that we have had from industry is that they want to see all levels of Government working more collaboratively in relation to international distribution, and that has certainly been central to our thinking as we have sought to improve the program,” O’Sullivan added.The program will be available in 11 languages and rolled out progressively across all markets over six months, starting August 2015.last_img read more

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Penang Convention Exhibition Bureau appoints Alfa Destinations Marketing Private Limited as India

first_imgPenang Convention & Exhibition Bureau (PCEB) recently announced the appointment of Alfa Destination Marketing Private Limited as its representative firm in India to manage travel trade strategy, public relations and industry alignment across both countries.India is proven to be a strong market for Penang and is one of the top five markets for business events in Penang. Over the past year, Penang has received encouraging interest from event planners and conference organisers. In 2017, 13% of business events of Asia Pacific origin were from India, contributing RM 190 million or USD 46 million. In 2018, Penang’s largest business event – V-CON 2018 – which saw a participation of 16,000 delegates from around the world reported that 80% of their delegates were from India. The number of Indian travellers flying into Penang has also increased in recent years. The Penang Immigration Department reported that for the period between January to November 2018, 7,250 Indian travellers flew into the Penang International Airport, compared to 6,569 in the same period in 2017. The 10.37% increase came despite there not being direct flights between Penang and India.To further attract the Indian outbound meetings and conference market, PCEB has introduced attractive support packages specially tailored for India.PCEB recently held the 2nd sales and media mission in India with partners from the Penang meeting with over 1000 travel trade contacts and media across four cities – Chennai, Ahmedabad, Mumbai and New Delhi.“We are so pleased and excited to add Penang Convention & Exhibition Bureau to our existing client portfolio. Alfa’s focus will be to align and enhance the ‘Experiences Unfiltered’ campaign under PCEB through cooperative strategies with key wholesale, airline and trade partners, as well as increase awareness with key media stakeholders in India. Ultimately, this will increase the length of stay and contribute to grow the number of Indian visitors to Penang,” commented Kapil Pant, Director, Alfa Destinations Marketing Private Limited.With an estimated RM 685 million in development revenue in 2018 and more than 700 hotel rooms in the pipeline, there are many new ways for Indian families to experience the state.“We are proud to appoint Alfa Representatives in continuing our marketing and promotional efforts in India and its subcontinent markets. With their expertise of over 23 years, we look forward to welcoming more businesses from this segment to Penang,” said Ashwin Gunasekeran, Chief Executive Officer for Penang Convention & Exhibition Bureau.last_img read more

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Late Night Funnyman Lists Historic Los Angeles Home

first_img in Data, Government, Origination, Secondary Market, Servicing, Technology Share Agents & Brokers Attorneys & Title Companies Investors Lenders & Servicers Movers & Shakers Processing Service Providers 2012-06-15 Abby Gregory Late Night Funnyman Lists Historic Los Angeles Homecenter_img June 15, 2012 425 Views Another comedian is set to sell his California estate. Funnyman and host of “”The Late, Late Show””:www.cbs.com/shows/late_late_show/ on CBS, Craig Ferguson, has put his Los Angeles home “”on the market””:http://luxe.truliablog.com/2012/06/craig-ferguson-selling-home/ for $1.995 million. The property, which is located in the city’s Beachwood Canyon area, was built in the 1930s, and the Spanish-style villa is said to reflect a classic, Old Hollywood aesthetic. The 2,385-square-foot house is well preserved, and the home still features its original stained glass windows, tile, and hardwoods. According to “”Trulia Luxe””:http://luxe.truliablog.com/2012/06/craig-ferguson-selling-home/, Ferguson is already on the move, having purchased a $4.1 million Craftsmen home on nearby Canyon Drive in April.[COLUMN_BREAK][IMAGE]last_img read more

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Fannie Freddie Directed to Restrict ForcePlaced Insurance Practices

first_img in Government, Secondary Market, Servicing Fannie, Freddie Directed to Restrict Force-Placed Insurance Practices Share The “”Federal Housing Finance Agency””:http://www.fhfa.gov (FHFA) announced Tuesday that it has directed the GSEs to prohibit servicers from being reimbursed for expenses associated with captive reinsurance arrangements. The announcement follows a notice that FHFA published in the Federal Register last March regarding its views on these lender-placed insurance practices and accepting public input. The notice also cited concerns that the practices expose Fannie Mae and Freddie Mac to potential losses as well as litigation and reputation risks. [IMAGE][COLUMN_BREAK]””FHFA remains concerned about the cost of lender-placed insurance for Fannie Mae, Freddie Mac, and consumers,”” said Edward DeMarco, acting director of FHFA. “”One of our primary responsibilities as conservator of Fannie Mae and Freddie Mac is to preserve and conserve their assets on behalf of taxpayers. This directive is intended to reduce their costs as we consider additional measures.”” FHFA also established a regulatory working group consisting of federal and state regulatory agencies to ensure that all parties with an interest and role in the subject of lender-placed insurance are engaged in the discussions. The views of the working group were carefully considered along with the more than 30 replies FHFA received from consumer advocates, state regulators, lender-placed insurance carriers, servicers, managing general agents, individuals, and trade associations in response to the notice. This recent action reflects this input. Fannie Mae and Freddie Mac will provide aligned guidance to sellers and servicers to prohibit these practices, including implementation schedules.center_img November 5, 2013 422 Views Fannie Mae FHFA Freddie Mac Mortgage Insurance 2013-11-05 Ashley Harrislast_img read more

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Leading Economic Indicators Up for Fourth Straight Month

first_img in Daily Dose, Data, Headlines, News Leading Economic Indicators Up for Fourth Straight Month June 20, 2014 435 Views Conference Board Federal Reserve Forecast GDP Leading Economic Indicators 2014-06-20 Tory Barringercenter_img A gauge of leading economic indicators points to a more promising second half of the year after a lackluster first half.The Conference Board’s Leading Economic Index (LEI), which tracks signs of future developments, rose 0.5 percent in May to 101.7, building on gains of 0.3 percent in April and 1.0 percent in March.The index measures 10 major components, including average weekly initial claims for unemployment insurance, average consumer expectations for business conditions, and building permits for new private housing. Ataman Ozyildirim, an economist for the Conference Board, said May’s increase—the fourth straight one—was “broad based.””Housing permits held the index back slightly but the LEI still points to an expanding economy and its pace may even pick up in the second half of the year,” Ozyildirim said.Both the coincident and lagging indices also improved, increasing 0.3 percent to 109.0 and 0.4 percent to 123.8, respectively.Looking forward, Conference Board economist Ken Goldstein says data suggest the economy “is finally moving up from a 2 percent growth trend to a more robust expansion.”How much more robust is a matter of debate, however. In its latest outlook, the Federal Open Market Committee projected economic growth of 2.1–2.3 percent for the entire year, a slowdown from forecasts of up to 3.0 percent growth predicted before news of a first-quarter contraction came out. Sharelast_img read more

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Baby Boomer Homeowners Are Remaining in SingleFamily Homes Report Finds

first_imgBaby Boomer Homeowners Are Remaining in Single-Family Homes, Report Finds Share August 20, 2015 557 Views Baby Boomer Fannie Mae Single-Family Homes 2015-08-20 Staff Writercenter_img Many believe that the Baby Boomer generation have begun downsizing from their single-family homes to live in apartments. A recent housing insights report from Fannie Mae’s Economic & Strategic Research Group challenges this idea, finding that Baby Boomers are not fleeing to apartments but remaining in their homes.Fannie Mae research found that the Baby Boomer generation, or those born between 1946 and 1965, are not downsizing from their single-family homes in large numbers or moving into apartments, thereby helping to drive the surge in multifamily rental demand.The report found that available data through 2013 showed no significant reduction in the rate at which Baby Boomers occupy single-family detached homes. In addition, although the average number of rooms in single-family homes occupied by Baby Boomers decreased between 2008 and 2011, Boomer home size has increased since then. This suggests that Boomers are not opting for smaller single-family houses, either.”As suggested by the lack of downsizing activity, Boomers have not been a major driver of apartment demand growth,” the report said. “In fact, the number of Boomer apartment dwellers has not budged in recent years, whereas the number of Millennials in multifamily rental units has grown by nearly half a million annually.”The fact that Boomers do not appear to be downsizing does pose certain implication for the housing market, as they do occupy 32 million single-family detached homes and account for half of the nation’s housing wealth. Therefore, any significant changes in their housing consumption could greatly affect the housing market.”Moves by large numbers of Boomers from single-family homes to apartments could put downward pressure on single-family home prices, shift the composition of new housing construction further toward multifamily structures, and change the types of apartments being built,” the report said. “Although Boomers’ consumption of single-family homes will decline eventually, and thus should be watched closely, available data do not yet provide an indication of substantially changed behavior for this market-moving cohort.”Click here to view Fannie Mae’s complete Housing Insights report.  in Daily Dose, Data, Featured, Market Studies, Newslast_img read more

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Feds Kashkari Banks Need Massive Structural Changes

first_imgFed’s Kashkari: Banks Need ‘Massive Structural Changes’ in Daily Dose, Featured, News, Origination Banks Lending Minneapolis Fed Neel Kashkari Too Big to Fail 2016-06-20 Seth Welborn June 20, 2016 597 Views center_img In his third symposium on ending “Too Big to Fail” at the Peterson Institute in Washington, D.C., on Monday, Minneapolis Fed President Neel Kashkari said many current reform efforts are headed in the right direction—but that those measures do not go far enough.At Monday’s symposium, Kashkari examined the tradeoffs of higher capital standards for banks, noting that increased capital in the form of common equity can make banks stronger, reduce complexity, and reduce pressure on supervisors.The downsides to increased capital standards need to be explored further, however.“In particular, higher capital could raise the cost of lending and potentially reduce economic activity,” Kashkari said. “But to what extent? How should we measure such costs? Increased capital standards for large banks have the potential to push risk to non-banks, such as hedge funds and insurance companies. Experts appropriately ask, if we substantially increase (and simplify) capital standards for banks and that drives risky activities elsewhere, has financial stability really improved? This is an important question.”Neel KashkariThe first step toward ending Too Big to Fail is “massive structural changes” to large banks and the overall financial system, Kashkari said, noting that some large financial institutions are starting to shed assets in response to increased regulation. “Almost none of the experts we have consulted with believe the industry can and should stay in its current form,” he said. “The only disagreement was about the scale and the speed of that restructuring.”Kashkari noted that he believes Too Big to Fail still exists among the larger banks, citing as an example the Fed’s and FDIC’s joint rejection in mid-April of the “living wills” (plans for how the banks will enter bankruptcy without disrupting the financial system) of JPMorgan Chase, Wells Fargo, Bank of America, BNY Mellon, and State Street.“There was also a shared concern that as memories of the crisis fade, the will to complete the implementation of current reforms (let alone introduce new ones) weakens,” Kashkari said. “This outcome leaves the financial system exposed to unacceptable risks if reforms are left incomplete. Indeed, this is part of the motivation for our ending TBTF initiative: to trigger a serious national conversation about the risks posed by large banks while we still remember how painful the crisis was for society.”One of the steps Kashkari said must be taken even with a safer banking system is taking action to prevent risk from moving from one part of the financial system to another—to reduce risk and not simply move it around.“The issue of risk-shifting from the commercial banking sector to the shadow banking system is particularly acute in the United States,” Kashkari said. “According to the Financial Stability Board, the United States has the largest shadow banking sector, with $14.2 trillion in 2014, representing more than a third of global shadow banking assets reported by 26 developed and emerging countries across the globe.”Kashkari said that while many in the industry hold to the idea that “Too Big to Fail” can be ended by imposing losses on long-term debt holders of large banks during a stressed economic environment, he said he does not believe this approach will work because it has too many moving parts and is too complex, it leans too heavily on supervisory wisdom, and it defies market logic.The Minneapolis Fed’s plan for ending Too Big to Fail will be released before the end of the year, Kashkari said.Click here to read Kashkari’s complete speech. Sharelast_img read more

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Freddie Mac Portfolio Up 05 Percent

first_img May 23, 2017 775 Views Freddie Mac’s total mortgage portfolio increased over the year, rising at an annualized rate of 0.5 percent between April 2016 and April 2017, according to the April Monthly Volume Summary released by Freddie Mac on Tuesday. Though the jump does mark year-over-year growth for the government-sponsored enterprise, April’s annual increase is significantly lower than March’s, which came in at 4.8 percent. December 2016 saw a 10 percent annualized growth rate.In total, Freddie Mac completed $28 billion in mortgage purchases or issuances, $4.1 billion in sales, and $23 billion in liquidations for the month of April. The balance of Freddie’s mortgage portfolio by the end of the month was just over $2 trillion. The GSE has funded $127 billion in mortgages year-to-date.Total aggregate unpaid principal balance (UPB) of Freddie Mac’s mortgage-related investments portfolio declined in April, dropping $1.5 billion to $289.7 billion year-to-date. Under its mortgage-related investments portfolio, the GSE completed $20 billion in purchases, $18 billion in sales, and $3 billion in liquidations. It saw an annualized growth rate of -6.2 percent for the month. Freddie Mac mortgage-related securities and mortgage loans made up the bulk of the portfolio, while non-agency and agency loans only comprised a small portion of it.Mortgage-related securities and mortgage-related guarantees rose by an annualized rate of 2.1 percent, jumping from $1.76 trillion to $1.88 trillion since April last year. The portfolio has risen steadily since early 2016, even jumping 10 percent in December 2016.More than 40 percent of Freddie’s total single-family mortgage portfolio for April consisted of refinance loans, and 9 percent of those were “relief refinance mortgages.” Just over half—56 percent—of the agency’s loans were purchase loans for the month. In total, Freddie Mac completed 4,588 single-family loan modifications in April and 16,587 year-to-date.The rate of serious delinquency remained steady for both Freddie’s single-family and multi-family loans in April, coming in at 0.92 percent and 0.03 percent of the enterprise’s total loan volume respectively. On single-family loans, “seriously delinquent” refers to borrowers who are 90 or more days overdue; on multi-family loans, it is 60-plus days.To view the full monthly summary, visit FreddieMac.com. in Daily Dose, Data, Government, Headlines, News, Secondary Market Freddie Mac Portfolio Up 0.5 Percentcenter_img Freddie Mac freddie mac portfolio HOUSING mortgage mortgage portfolio 2017-05-23 Aly J. Yale Sharelast_img read more

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Demand for Homes Remains Upbeat Despite Headwinds

first_img Buyers Home Buyers Home Prices Home Supply homes HOUSING Housing Demand Inventory Mortgage Rates sales Sellers 2018-02-27 Radhika Ojha in Daily Dose, Data, Featured, News Share February 27, 2018 681 Views center_img Demand for Homes Remains Upbeat Despite Headwinds The demand for housing is on the rise despite headwinds like inventory shortage, increased mortgage rates, and volatile stock markets according to online brokerage firm Redfin, which released data for its Redfin Housing Demand Index on Tuesday.The index is based on data from Redfin customers requesting home tours and writing offers, with a level of 100 representing the historical average for the three-year period from January 2013 to December 2015. The index began the year at 130.5 up by 0.5 percent on a month-over-month basis and increased 4.8 percent when compared with January 2017. While the number of buyers requesting a tour went up 13.7 percent during the year, the number of buyers making offers slid 9.7 percent on a year-over-year basis. However, the data indicated that the number of buyers making an offer grew 1.2 percent between December 2017 and January 2018.According to the data January offers and sales of homes were heavily restricted registering a 19.9 percent year-over-year decline in housing inventory, with January marking the thirty-second consecutive month of declining supply of homes. “Inventory has been deteriorating for more than two years, yet 2018 started off with buyer demand stronger than in any previous January we’ve measured,” said Nela Richardson, Chief Economist at Redfin. “Along with inventory declines, buyers contended with rising mortgage rates, an overhaul of the tax code and a jumpy stock market. However, strong local labor markets helped keep buyers enthusiastic about homeownership despite headwinds.”According to Redfin, homes in the affordable price ranges are feeling the effects of inventory shortage the most, with homes that get listed in these ranges selling within days and above the asking price.last_img read more

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first_img Top Stories What an MLB source said about the D-backs’ trade haul for Greinke As teams begin to bow out of the Kevin Kolb sweepstakes it would seem a deal between Philadelphia and Arizona is imminent. However, as of Tuesday afternoon no move had been made, and it could be because the Eagles are holding things up. Nevada officials reach out to D-backs on potential relocation D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ It makes sense that the Eagles would want to get as much as they can from the Cardinals, just as the Cards would prefer to surrender as little as possible for Kolb. But who has the leverage right now? At first it seemed like the Eagles, as they had the QB who every team wanted. A bidding war was expected, one the Cardinals seemed willing to join.But teams have begun to fill their respective holes at QB, leaving the Cardinals as the only team left with a spot still available for Kolb. Comments   Share   Philly is still trying to leverage AZ on kolb. Thats a pricey game to play.less than a minute ago via Echofon Favorite Retweet ReplyJason ColeJasonColeYahoo Cardinals expect improving Murphy to contribute right awaylast_img read more

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What an MLB source said about the Dbacks trade h

first_img What an MLB source said about the D-backs’ trade haul for Greinke Fitzgerald was one of only four players to land on Sando’slist for the fourth straight year, joining Rams runningback Steven Jackson and defensive end Justin Smith andlinebacker Patrick Willis of San Francisco.The other offensive member was left guard Daryn Colledge,who beat out three others for the mention. Sando’s explanation:Arizona’s Daryn Colledge edged out the 49ers’Mike Iupati at left guard. Colledge, as a seasonedveteran, was more consistent. Iupati was outstanding onhis best plays. Colledge, signed from Green Bay in freeagency, upped the standard for the position. I thought hewas strong as a run blocker in particular.On the defensive sideof the ball, there were two Cardinals as well.Defensive end Calais Campbell got the nod, as did middlelinebacker Daryl Washington. Campbell led the team with 8sacks and knocked down 11 passes, while Washington rankedfourth in the division with 106 total tackles.And on specialteams, it was no surprise that Sando gave the nod torecord-setting Cardinals punt returner Patrick Peterson asthe kick returner. Peterson tied an NFL record with fourpunt returns for touchdowns, and amassed the 2nd-most puntreturn yards in a single season in league history. D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ The Arizona Cardinals aren’t headed to the playoffsdespite going 7-2 over their last nine games, but today,five players received “honors” from NFC Westblogger Mike Sando of ESPN.For the fourth straight year, Sando named his All-NFC West Offensiveteam, and for the fourth straight year wide receiverLarry Fitzgerald was on it. Fitzgerald didn’t have abanner year as far as number of catches, but he did makethe most of the ones he caught. The Pro Bowler had 80receptions for 1,411 yards and eight touchdowns. Comments   Share   center_img Top Stories Nevada officials reach out to D-backs on potential relocation Cardinals expect improving Murphy to contribute right awaylast_img read more

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We knew early on in the year the Arizona Cardinals

first_imgWe knew early on in the year the Arizona Cardinals would only go as far as their defense could take them.Through four games, it seemed like the defense could take them a long way. Defensive coordinator Ray Horton’s group was allowing just 15.25 points per game, and had held both Tom Brady and Michael Vick in check. They looked good — real good. Things have changed, though, as the Cardinals have given up an average of 22.4 points per game in their last five games — all losses — and Sunday, against the Green Bay Packers, could be looked at as the reason for the defeat. Grace expects Greinke trade to have emotional impact 0 Comments   Share   Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retirescenter_img The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo “Clearly it’s been the defense that has let them down as of late,” ESPN NFL analyst Ron Jaworski told Arizona Sports 620’s Burns and Gambo Thursday. “They make that a one score game in Green Bay, all of a sudden you’re there at 24-17 and bang, the Packers just march it right down and put that game away for all intents and purposes.”The Cardinals, who had trailed most of the game, did get within seven points late in the third quarter. However, Aaron Rodgers hit tight end Tom Crabtree for one of the longest-lasting 72-yard touchdown passes you’ll ever see just a couple plays later, putting the game out of reach for Arizona. It was only one big play, but it was the dagger and just another instance where the Cardinals defense could not get the job done Sunday. “Clearly the strength has been the interior of that defensive line, yet Green Bay ran the football on them,” Jaworski said. The Packers gained a season-best 176 yards rushing on 39 carries, with James Starks, Alex Green, Randall Cobb and Rodgers himself doing significant damage. – / 13 Top Stories last_img read more

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Obviously Id like to get a couple linemen on bo

first_img“Obviously, I’d like to get a couple linemen on both sides of the ball. Guys in our division, the one thing that stands out is how good the lines and trenches are in all the teams that we play against,” he told Lindsey Soto.“We need depth, offensively and defensively, on the lines. I’d like to have a young safety and corner, and any receiver that runs 4.2.”That was from Vince Marotta’s article last week about Bruce Arians’ draft wish list. One thing stood out to me that I feel like a lot of people had been overlooking: the Cardinals need a vertical threat at the wide receiver position. Boyce doesn’t have the ceiling of a Goodwin or Wheaton, but he’s in the same class when it comes to being able to take the top off the defense and make plays deep in coverage.His hands are a bit inconsistent at times — he tends to try and make a move with the ball before securing it — but he shows the ability to win 50/50 balls, and catch the ball in traffic consistently.Round 6Corey Fuller, Virginia Tech (4.43)While Fuller was expected to make strides in 2012, the play of his quarterback has relegated him to a late round prospect. Comments   Share   Uzoma needs to work on his concentration — dropped balls were an issue as he was looking to make a play before he had the ball in his hands. But he is a guy who can come in and be a weapon early, while working on refining himself as a wide receiver. Round 3Marquise Goodwin, Texas (4.27)This is the guy that you may start seeing mocked to the Cardinals more and more in third round just based off Arians’ comments. Grace expects Greinke trade to have emotional impact Fuller was hindered while at Virginia Tech because he never developed as a route runner. He showed sloppy footwork in and out of breaks, rounding off routes and generally just needs some seasoning at the position.His raw speed, though, makes him an intriguing day three prospect, and someone that could be a fit in the Arians vertical attack.Round 7Uzoma Nwachukwu, Texas A&M (4.45)Much like Wheaton, Nwachukwu’s speed is more that of a long strider — he isn’t quick in reaching his top speed, but he’s able to maintain it through the end of his routes and win deep because of it. Former Cardinals kicker Phil Dawson retires Can the Cardinals afford to take a wide receiver at seven? Austin is a completely different weapon than anything else they have on the roster, but that’s still early for a guy who only gets 5-8 touches a game. And with Larry Fitzgerald, Floyd and Austin on the roster, the Cardinals would have used three top-13 picks on receivers in the last decade.Round 2Markus Wheaton, Oregon State (4.45)I know what you’re saying: Wheaton’s forty time was barely faster than that of Michael Floyd, how could he possibly be the deep threat Bruce Arians was talking about.Well, Wheaton’s strength isn’t necessarily his quick speed off the line, but his ability to build up to his top-end speed and maintain it, which allows him to be an excellent deep threat option.Wheaton runs good routes, shows a good ability to run different routes and is a hands catcher. But most of all, in the Arians offense, he’s a guy that is a legitimate threat to take the top off of the defense at any time. Sure, they took Michael Floyd extremely high in round one last season, and that seemed to work out as the season progressed. But Floyd’s impact was minimal due to lack of playing time early, and awful quarterback play as his time on the field increased. The problem with Floyd is that he isn’t a true speed threat.That means the Cardinals will be in the market for a true deep threat wide receiver, as Arians stated in his draft wish list. The question is what round?This draft only possesses two legit 4.2 forty-yard dash guys in West Virginia’s Tavon Austin and Texas’ Marquise Goodwin, but the draft is full of guys in that 4.3 to low-4.4 range, and there is one in every round.Here are the possible deep threat targets in every round for the Arizona Cardinals.Round 1Tavon Austin, West Virginia (4.34 forty-yard dash)The definition of speed, Austin is the best all-around weapon you will find on this list.Austin possesses a rare blend of speed and athleticism, he moves more like a running back in space and had one of the lowest drop rates in college football in 2012 — part of the reason Geno Smith’s completion percentage was so good.Austin was adept at attacking every level of the field, but most of his plays were near the line of scrimmage. Yet, he was also very effective on deep routes. Top Stories Stills is probably the best route runner of the group that we will be looking at, shows nice hands, a comfort working in all levels of the secondary when catching the ball and has game breaking ability when going deep.He’s a more physical receiver than he appears to be and shows a good ability to manipulate defenders to open up routes, even if he is smaller-framed.Stills doesn’t come back to the ball aggressively enough and his effort level looks like it varies at times. Round 5Josh Boyce, TCU (4.38)What Boyce lacks in size, he makes up for in pure deep speed and solid route running ability. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Derrick Hall satisfied with D-backs’ buying and selling Wheaton would be an excellent addition going forward to the Cardinals offense, especially with his ability to be a consistent deep threat.While Wheaton won’t cost you a first round pick, with the needs on both sides of the ball you have to wonder if a wide receiver in round two is really still an option. Goodwin is the ideal deep threat weapon, which was completely underutilized at Texas because of bad quarterback play.Goodwin is a little raw in his route development, but he has something that can’t be taught: pure speed.Round 4Kenny Stills, Oklahoma (4.38)While Stills isn’t an ideal citizen at times (he is a big time trash talker and has gotten into some trouble off the field with a 2011 DUI), he is the epitome of the deep threat in what the Cardinals would be looking for in their vertical offensive attack.last_img read more

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first_img Top Stories Cardinals GM Steve Keim and head coach Bruce Arians watch a mini-camp practice. (Photo by Adam Green/Arizona Sports) Your browser does not support the audio element. Keim pointed to Freeney and Johnson as examples of the type of player he would be looking for at this point.“They have to have a mental makeup, and again, that mental makeup is to be a rare competitor, to be a guy who just wants to play football and again, it’s not about the paycheck,” he said.Are those players out there? Maybe. But even if they are, would they be able to fill one of the team’s few needs?Keim said when observing the market, he looks at the person and the value of the player as well as what position they play.But since the Cardinals are as deep as they are, he is mostly focused on the last of the three factors, with an eye on what his team may be searching for down the road.“I’m more focused on positions of need, where I think we can not only add a player who can help us on game day, but from a depth standpoint as well,” he said. “Positional versatility is huge — and that’s the one thing about when I look at our roster that excites me, is that we have so many players with positional flexibility. Guys who can play inside, outside, who in a pinch because of injuries can play in different spots. And you know, as it gets later in the year and injuries do occur, versatility is a key.” Former Cardinals kicker Phil Dawson retires “I really do think that we may be able to add another player or two that can contribute and help us out this year.”Some of the biggest names still available on the free agent market are receiver Anquan Boldin, cornerback Leon Hall, safety Donte Whitner and guard Louis Vasquez. Freeney is also unsigned, and has expressed a desire to return to Arizona if the team wants him.A look at the Cardinals’ roster would identify few true needs, though it would not be a surprise if the team added some veterans along the offensive line or in the secondary.Then of course, there’s always the possibility of injuries necessitating a move, though that cannot be predicted.For Keim the process of signing a player, even if he is added later in the year, began a few months ago.“I mean, generally, more than likely we’ve had conversations with these players at the start of free agency, but because of injuries or other factors, let’s be honest, their price drops,” he said. “The later it gets in the year, guys’ expectations come down and the later it gets, the more they have to become realistic.“So, that’s a part of it, but at the same time, I’ve always talked about it, you have to judge the person; I mean, it’s got to be the type of guy that’s not in it for the dollars, that’s in it to win a championship, to be a part of a team, and has probably had some success.” The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo LISTEN: Steve Keim, AZ Cardinals general manager center_img 0 Comments   Share   Some of the biggest contributors to the Arizona Cardinals’ success over the last three seasons joined the team late in the process.In 2013, Eric Winston and John Abraham came on board just before training camp.In 2014, Tommy Kelly was added after Darnell Dockett was lost to an ACL injury during training camp, while last season Lyle Sendlein and Chris Johnson were brought in after camp had already begun, and Dwight Freeney was signed weeks into the regular season. Grace expects Greinke trade to have emotional impact Derrick Hall satisfied with D-backs’ buying and selling – / 15 Winston started 16 games at right tackle, Abraham made the Pro Bowl after notching 11.5 sacks and Kelly provided stability along the defensive line. Sendlein re-assumed his role as the starting center, while Johnson went on to lead the team in rushing and Freeney did the same in sacks.General manager Steve Keim’s ability to locate talent and head coach Bruce Arians’ ability to squeeze production out of players who many thought had little left to give has helped give the impression that while the Cardinals may be plenty happy with the roster they have now, it’s unlikely they have finished tweaking it.A guest of Doug and Wolf on Arizona Sports 98.7 FM Thursday, Keim talked about how he’s not done building the 2016 Cardinals.“You know, you guys have seen me enough to know that I’m going to continue to stay active, so if there is a player out there — and we’ve monitored a few different players going into this time of year — we’ll bring him in and we’ll be aggressive about it,” he said. “Now, it takes two sides: it takes one side to give an opportunity, obviously, and the other side has to be on board from a financial perspective.last_img read more

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