As part of its plans to fight the EU carbon tax, Russia’s Government has announced it will limit the number of European and UK carriers flying over Siberia, instead preferring to offer the air space to carriers from Asia-Pacific nations.Announced this week, Deputy Transport Minister Valery Okulov explained the decision was made in retaliation against the EU carbon tax introduced earlier this year and said the country was hoping to get more carriers from Japan, China, Australia and other Asia-Pacific countries flying over Siberia, TravelMole reported.Joining 23 other countries opposing the decision to install the carbon emissions tax, Mr Okulov said the country was focused on getting tax axed.”We are calling on the European Union to do whatever it takes to prevent a trade war,” he explained. “We intend to get EU’s carbon trading measures either cancelled or postponed.”According to media, Moscow is already considering a ban on Russian airlines taking part in the scheme while China told its carriers to ignore the tax.Other countries pitching against the tax include the US, Japan and India. Source = e-Travel Blackboard: N.J
Aussies continue to flock to US shores Destinations beware: more than 90 per cent of Aussies plan to spend any extra windfall from recent interest rate cuts on vacations, a survey by Australian travel website Wotif has found.Additionally, with the Australian dollar still on parity with the greenback, the United States continues to figure highly in Aussie travelers’ overseas travel plans.According to the survey, joining the US among the top spots for Australians to spend budget bonuses this year are Thailand, New Zealand, Bali and Fiji. Source = e-Travel Blackboard: M.H
Japan is working toward restoring Australian visitor numbers in 2012 after a fall in figures last year as a result of the earthquake and tsunami tragedies. Australian Consul-General of Japan Masahiro Kohara spoke to up to 130 delegates attending the Japan Snow & Adventure Seminar 2012 at the Four Points by Sheraton Sydney last night about the region’s plans to stimulate travel from down under. “The motivation for this expo is to provide the Australian market with up-to-date information and the confidence to sell Japan snow products,” he said. Japan National Tourist Organisation (JNTO) Viara Yanatchkova said Australian visitor numbers were on the rise with the first two months of this year recording growth in arrivals. “There was a 30 percent decrease in the number of Australian tourists in 2011 but with the help of last minute bookings, January and February 2012 saw an influx of 40,132 Australian visitors to Japan.” Ms Yanatchkova highlighted Japan’s accessibility as one of the key reasons Australians should visit. “There are no visa requirements for Australian visitors, the time difference is minimal so there’s little to no jet lag and Japan Airlines, Qantas and Jetstar all fly direct routes between Australia and Japan,” she said. The Qantas subsidiary is also making it easier to travel throughout Japan domestically, launching Jetstar Japan later this year. Speakers from various ski resorts across Japan made presentations at the Seminar, emphasising the quality of the product on offer and why it would be attractive to Australians. “Australians love a ski village, the lifestyle, the vibe. Over here, we have it,” a representative from the Niseko resort said. Scott Tovey from New Furano Prince Hotel said “consistency, affordability, interlinked resorts and uncrowded slopes” were just a few of the advantages of travelling to Japan for a snow or adventure holiday. The 2012 Seminar was held in Melbourne on 21 May at Rydges Melbourne Hotel. Source = e-Travel Blackboard: P.T
It may be the world’s longest flight (by distance) but Qantas’ Sydney to Dallas/Fort Worth (DFW) route has proven popular, impacting visitor arrival numbers and resulting in Qantas boosting flight frequency to the Lone Star state.“We’ve seen incredible growth out of Australia since Qantas began direct flights to DFW,” Texas Tourism senior public relations manager Diana Stevie told e-Travel Blackboard.According to the enthusiastic Ms Stevie, visitor numbers from Australia have grown by 170 percent since the Flying Kangaroo’s inaugural flight to DFW in May 2011.However, Ms Stevie acknowledges that not all these Australian arrivals are staying in Texas long.“We’re not yet California or New York,” she said.“But when Australians experience Texas’ diversity, people will soon realize that Texas really is like a whole other country and is worth further exploration.”Qantas began flying to Dallas/Fort Worth (DFW) in May 2011, with four flights a week.Since then frequencies were increased to daily, “reflecting strong demand for the services”, a Qantas spokesperson told e-Travel Blackboard.Qantas is doing well from the arrangement too; the Australian flag carrier admitting the addition of DFW to its network “has enabled Qantas to strengthen its relationship with American Airlines”.“Through our codeshare partnership with American Airlines, Qantas offers services beyond DFW to 54 destinations in the United States, Canada and Mexico.“We continue to look for ways to expand and grow the partnership.”Texas fun facts to pass onto your clients: Give your clients more reasons to ride into Texas. DFW International Airport is bigger than Manhattan, New York. But don’t worry about getting around. The new oneworld Global Support Centre can help oneworld members make their connections as seamless as possible.Texas has the third most golf courses out of all the US states.With over 1,000 kilometers of coastline and 12,843 square kilometers of fresh water, Texas isn’t as dry as you might think.Texas is the USA’s second biggest wine producing state.The largest concentration of bats in the world is near San Antonio, in Bracken Cave.Texas reigns supreme as the USA’s leading birding state.The official state snack is tortilla chips and salsa. Source = e-Travel Blackboard: G. A.
Travel website Webjet has purchased Sun Hotels Group in Europe for €21 million (AUD $30.4m) to expand its reach in Europe.A spokesperson for Webjet said that the acquisition of Sun Hotels Group by Webjet will be fully funded by a mainly euro finance facility.Webjet expects to complete the acquisition by the end of August and it is expected to create “an important cornerstone platform” for Webjet to improve its sourcing and distribution opportunities.The deal follows its purchase of online ticket seller Zuji last year for AUD $25 million to expand its footprint in Asia.Sun Hotels provides a wide range of hotels and transfers in European resort destinations to markets in Scandinavia and Britain.Source = ETB News: Tom Neale
The Australian Tourism Data Warehouse (ATDW) and V3 have agreed to continue Australia’s unique national booking exchange platform, TXA.This news pleases over 7,000 tourism industry suppliers as they are reliant on Tourism Exchange Australia (TXA) as part of their distribution strategy.The continuation of TXA will ensure distributors and operators can continue to increase their online exposure and sales and provide consumers with the ability to source high quality, live tourism content and information and book, securely pay and instantly confirm online.ATDW formed a partnership with V3 in 2008 to deliver an inclusive national open, booking platform branded, TXA, which combines ATDW’s database with V3’s Open Booking Exchange (OBX) technology.ATDW chief executive officer Liz Ward, said that the extension of this alliance provides the technology support for TXA and ATDW provides the quality product content.“With so many tourism operators using TXA as part of their distribution strategy and many distributors reliant on TXA for access to a broad cross section of Australian tourism product, we are both very pleased to continue to provide TXA. It will be business as usual with no disruption to businesses connected to TXA,” Ms Ward said. Source = ETB Travel News: Lewis Wiseman
89% of consumers support US Government open skies policyOpenSkies.travel today released the results of a U.S. consumer survey, conducted online using Google Consumer Surveys, among 2,546 U.S. adults ages 18 and older. The survey found that 89% of Americans who have traveled internationally or outside of the United States by airplane agreed that they support U.S. government Open Skies policy objectives, “to lower airfares and provide more convenient travel options.” In addition, 67% of Americans agreed that, “the government should not give into U.S. airlines’ demands that foreign airline expansion into the U.S. be stopped.”“These results should be a wake-up call for the U.S. Departments of Transportation, State and Commerce,” said Kevin Mitchell, OpenSkies.travel and Business Travel Coalition founder. “Consumers, as the most important aviation policy stakeholder, realize the significant benefits to them and their communities from our Open Skies policy and see straight through the U.S. airlines’ allegations of unfair Gulf carrier competition as nothing more than blatant commercial protectionism. Recent business-traveler comments in the Wall Street Journal only reinforce this widespread understanding,” added Mitchell. Business Travel CoalitionSource = Business Travel Coalition
Last year, Travelodge Hotels – one of Australia’s longest-established and most trusted accommodation brands – began a brand-wide refresh that sought to deliver a new class of hotels for the smart traveller.Marked with a new campaign launching this month, a refresh across most hotels in Australia and New Zealand, has changed the face of Travelodge Hotels, setting an exciting new precedent for the hotel industry, with a promise to be Refreshingly Simple, and a unique hospitality experience.It’s a hotel that’s designed just the way you really like it, with a down to earth attitude and an honest sense of humour.A conveniently located hotel that is created for the way we live today, without all the unnecessary extras, but with all the parts that make it a comfortable and practical place to stay, from the hearty new breakfast offering, to the standard 11am check-out time, and the comfortable beds, kitchenettes and reliable showers.Location is key when it comes to Travelodge Hotels’ brand, and now, not only are you guaranteed to be positioned in some of Australia and New Zealand’s most convenient central locations, you can pay for the stay you want, without all the clutter.With new, stylish touches in-room, open lobbies, and Wi-Fi or internet access throughout, Travelodge Hotels are set up for both business travellers looking to set up office and leisure travellers looking to set up a base away from home.Complete with a new booking experience, which encourages guests to go online for direct reservations, there are no booking fees, best rates guaranteed, value-added benefits and earned incentives.Launching with a new look and refreshed offering this month, every Tuesday is also known as Chooseday at Travelodge Hotels.If you book online on TFEhotels.com on any Tuesday you can select from a number of great extras for free, adding to that ‘just the way you like it’ promise. Whether you’d like 2 for 1 breakfast, unlimited free WiFi, a late check-out or 2 for 1 drinks, Travelodge want to personalise your stay and make it more about you.TFE Hotels Group Director of Marketing, Emma Fraser said, “At Travelodge, location and comfort has always been top of mind, alongside exceptional service from our hotel team.“That level of quality and comfort isn’t going anywhere, but what we know guests want is being prioritised, without taking away the superior value and personal service, which our guests have come to expect, all delivered with a fresh dose of humour.“We want our guests to feel like they created the space themselves, with more of what they want, and less of the things that seem completely pointless.“A shower that is just a shower, without the six-body massage jets that flood the bathroom floor. A breakfast that is just that, a break in the fast – with less quinoa and more sausages. Less fuss, and more of what we actually want. It’s Refreshingly Simple.” Travelodge HotelsSource = TFE Hotels
Travel Counsellors experience iconic sights and delights of Northern IndiaTravel Counsellors experience iconic sights and delights of Northern IndiaA group of Travel Counsellors from all over Australia recently experienced the wonders of incredible India on an exciting famil trip through stunning northern India. Covering an area commonly referred to as the Golden Triangle, the group experienced the very best of what India has to offer travellers and have come home inspired to let their clients know about the highlights of their trip.Attended by Christine Jenkins, Jacqui Cameron, Jacy Richards, Laura Dobson, Liz Van-Boxel, Rebecca Lipscomb, Trish Hollis, Trish O’Brien and Kerryn Murphy from the Travel Counsellors Melbourne head office, the eleven-day trip traversed some of India’s most iconic cities including Delhi, Agra, Jaipur and Udaipur. Staying at luxurious properties throughout their trip, the group got to experience the warm hospitality India’s luxury hotels are known for providing.With the group doing everything from watching the sun set at the Taj Mahal to exploring historic palaces, and tasting local favourites at street food stalls, the group also made time to attend site inspections to keep abreast of the best places to send their clients. Travelling in everything from a rickshaw to a private mini-van and train, the Travel Counsellors got to experience firsthand the many options tourists can use to travel around India.Trish Hollis of NSW believes that India is a destination perfect for open-minded Australian travellers with an eye for adventure. “I was really blown away by this trip to India. There really is something for everyone. From fascinating culture, to incredible architecture, history and cuisine, India is a destination that really gets under your skin. Your dollar goes quite far in India, so it’s a good low-cost option for people who want to experience an adventure and be totally immersed in another culture, but get value-for-money at the same time,” says Trish.David Hughes, Managing Director of Travel Counsellors Australia thinks that India’s popularity with Australian travellers isn’t going to change anytime soon. “India is one of those places that has such broad appeal for Australian tourists. From young backpackers heading off on a low-cost odyssey to retirees keen to experience a classic rail journey and honeymooners looking to relax in palatial accommodation, India is one of those places that always rates highly on bucket lists. I was very pleased to see so many Travel Counsellors go on this famil – it shows their commitment to staying abreast of travel trends. I’m a big supporter of our Travel Counsellors experiencing a destination for themselves, and I am sure this experience will translate into many sales,” comments Hughes. Travel CounsellorsAbout Travel CounsellorsTravel Counsellors Australia was established in 2007 and currently has 150 Travel Counsellors. Our head office in Australia is in Melbourne. Travel Counsellors Australia is accredited with ATAS. Travel Counsellors is the world’s largest home-based travel company. Founded in 1994 it currently has 1,500 travel consultants who work from home with the support of over 350 staff at the company’s UK headquarters and overseas offices. The company operates in Australia, UK, Ireland, the Netherlands, South Africa, UAE and Belgium. Source = Travel Counsellors Australia
Travel Counsellors really are at the top of their gameTravel Counsellors really are at the top of their gameProving that Travel Counsellors really are at the top of their game, a team made up of Travel Counsellors and head office staff recently took out first place in the Etihad Trivia competition. Held at Platform 28 in Melbourne’s Docklands, the team included TC’s David Jackson, Amelia Taschetto, Richard Stewart, Jennifer Mikkelsen as well as Dean Hickford and Sam Puccio from head office. While the competition was fierce, the Travel Counsellors team prevailed, winning a bottle of champagne each while showing everyone that when it comes to knowledge about the world, Travel Counsellors really are unbeatable. become a Travel Counsellor todayclick hereAbout Travel CounsellorsTravel Counsellors Australia was established in 2007 and currently has 150 Travel Counsellors. Our head office in Australia is in Melbourne. Travel Counsellors Australia is accredited with ATAS. Travel Counsellors is the world’s largest home-based travel company. Founded in 1994 it currently has 1,500 travel consultants who work from home with the support of over 350 staff at the company’s UK headquarters and overseas offices. The company operates in Australia, UK, Ireland, the Netherlands, South Africa, UAE and Belgium. Source = Travel Counsellors – Australia
Sunshine Coast Airport named Asia-Pacific’s best airport under 10 million passengersSunshine Coast Airport’s tremendous success, progress and achievements over the past year has seen it named the Asia-Pacific Small Airport of the Year in the CAPA Asia Pacific Aviation Awards for Excellence announced at a ceremony held in Singapore.Sunshine Coast Airport was recognised in the category for airports with fewer than 10 million passengers for performance and strong industry leadership during the last 12 months.Mayor Mark Jamieson said the acknowledgement by independent international aviation industry experts was very high praise for Sunshine Coast Airport.“This achievement further demonstrates the regard in which Sunshine Coast Airport is held throughout the Asia-Pacific region,” Mayor Jamieson said“After receiving the Routes Asia 2017 Marketing Award in March, an award like this strengthens our airport’s international reputation as a leader in the aviation field and adds to the momentum of our airport expansion plans.”The award was accepted by Sunshine Coast Airport general manager Peter Pallot at a ceremony attended by airport and airline representatives from across Asia.Welcoming the announcement, Mr Pallot said the award was an incredible accomplishment and one he and the team were very proud of.“Less than 12 months ago we hit the one million passenger mark in a year for the first time in our history, and now we have been recognised as the best in a category with airports up to 10 times our size,” Mr Pallot said“This is a fantastic achievement resulting from the hard work of our small and dedicated team.“We have worked hard to build strong and valued relationships with our airline and tourism industry partners to provide services that work for our community and ensure the success of our airport and our region.“To receive the 2017 CAPA Asia Pacific Small Airport of the Year award is an incredible honour.“We thank all the partners and stakeholders that have supported us and made this achievement possible.”Source = Sunshine Coast Airport
India is considered to be a high potential source market for Taiwan Tourism (TT).“Though the tourist numbers are not very high, there has been a substantial increase from this market – a consistent 20% growth every year,” said Arthur Hsieh, Director, Taiwan Tourism, Singapore.Taiwan Tourism held educational multi-city workshops for the travel fraternity and the media in Kolkata, Bangalore and Mumbai recently. The aim of the workshop was to educate the travel agents and update their knowledge about Taiwan, the products it has to offer, USP’s of the destination and the how it caters to different segments of the Indian travellers.“We receive a large number of Indian tourists from Mumbai. We want to educate the travel trade to know more about Taiwan and TT partners,” Hsieh added. Currently, the capital city of Taipei welcomes the largest number of Indian tourists.Taiwan has also waived off visa fees on group travel fostering an increase in MICE movement from India. The average stay of Indian travellers ranges between five to six days.Noel Saxena, Country Head, Taiwan Tourism, India, shared that Indians spend $3000-4000 on an average in Taiwan. “Indians opt for various activities like ocean drives, water sports, adventure sports, and also visit Chiang Kai-shek Memorial Hall and National Palace Museum. The most recent addition to this list is night market shopping,” he said.Taiwan also hosts a series of festivals. According to Saxena, Sky Lantern Festival, Fulong Beach Festival, Dragon Boat Festival and Hot Air Ballon are some of the must-experience festivals for visitors to this island nation.
Radisson Blu Hotel Coimbatore, India opened recently. The hotel, which is located centrally on Avinashi Road and a mere seven kilometres away from Coimbatore International Airport and Coimbatore Junction is also close to textile and engineering industries, educational institutions as well as multi-specialty hospitals.The hotel offers 135 rooms and suites with amenities such as a wide array of meeting spaces including a 9,400-sq ft banquet hall with an additional pre-function area and a lawn for pre-event entertainment. Dining options include Seasons, which is an all-day-dining restaurant serving international cuisine, The hotel also provides 24-hour In-Room Dining and other facilities that include a Business Class Lounge, business centre, swimming pool, spa and fitness centre.Raj Rana,Chief Executive Officer-South Asia, Carlson Rezidor Hotel Group said, “Radisson Blu Coimbatore is set to raise the bar on the city’s upper-upscale hospitality landscape and bring new hospitality standards to the city. We are honoured to be partnering with GBJ Hotels Pvt. Ltd and appreciate their trust in our brand and expertise. With 140 hotels in operation and under-development, this hotel will be a valued addition as we expand and grow our footprint in South India.”G. Balasubramaniam, Managing Director, GBJ Hotels Pvt. Ltd., added, “This is our first hospitality venture and we are happy in the strong leadership of Carlson Rezidor Hotel Group and its South Asia team. We are confident that their proven experience and marketing expertise will benefit the hotel and I look forward to a mutually rewarding long-term association with the Group.”
During the period between January and May 2017, the emirate of Abu Dhabi recorded nearly two million hotel guest arrivals (1,965,436), a four percent growth compared to the same period in 2016, as per figures released by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) show.Of this figure, domestic visitors account for more than 600,000 hotel guests across the emirate’s 167 hotels and hotel apartments in Abu Dhabi, Al Ain Region and Al Dhafra Region. Internationally, China is the largest source market with 160,902 hotel guests so far this year. India stays as the second largest international source market with 136,000 hotel guests, followed by the UK with 104,000, U.S. with over 67,000 and Saudi Arabia with more than 62,000 arrivals.H.E. Saif Saeed Ghobash, Director General, TCA Abu Dhabi, said, “Our efforts in May capitalised on the growing popularity of the emirate in China as a tourist destination, with our promotional team conducting a four-city roadshow and participating in the ITB China Exhibition 2017 in Shanghai. Our Abu Dhabi Convention Bureau team spearheaded a delegation representing an array of new products to Germany to participate in IMEX Frankfurt 2017, the worldwide exhibition for incentive travel, meetings and events (MICE), targeting corporate business growth from high-performing sectors of the German economy, in particular the medical, automotive and financial services sectors.”Ghobash further added, “Looking ahead, we have some exciting upcoming events including the welcome return of Abu Dhabi Summer Season to the emirate between July 20 and August 20, with its standout selection of exciting entertainment and promotions across the emirate, which is expected to appeal greatly to domestic visitors, and especially those from India and Saudi Arabia.”
FHFA Announces Revisions to GSE Strategic Plan Agents & Brokers Attorneys & Title Companies Edward DeMarco Fannie Mae FHFA Freddie Mac Investors Lenders & Servicers Service Providers 2012-10-10 Krista Franks Brock The “”Federal Housing Finance Agency””:http://www.fhfa.gov/ released a revised Strategic Plan for the years 2013-2017 Tuesday. The plan is a modified version of the plan FHFA acting director Edward DeMarco presented to Congress in February. [IMAGE]””The initiatives and strategies set forward in this plan will serve to improve current mortgage processes, inspire greater confidence among prospective market participants, and set the stage for recovery and an improved future system of housing finance,”” DeMarco stated with Tuesday’s release. The plan details four major goals for the FHFA over the next few years. The first goal is to ensure “”safe and sound housing government-sponsored enterprises.”” Second is to create “”stability, liquidity, and access in housing finance.””The third is to “”preserve and conserve”” GSE assets, while the fourth is to “”prepare for the future of housing finance in the United States.””[COLUMN_BREAK]The first goal will require annual on-site examinations of each GSE, initiate new policies and supervisory guidance, and evaluate compensation and incentives at both GSEs. The goal of creating liquidity and stability will involve potential risk-sharing options, promoting home retention programs, and enhance REO disposition programs for “”Fannie Mae””:http://www.fanniemae.com/portal/index.html and “”Freddie Mac””:http://www.freddiemac.com/. The third goal-that of preserving assets-involves several steps to implement refinancings, modifications, deeds in lieu, and short sales. Another aspect of goal three is establishing underwriting guidelines that would help prevent future losses. The FHFA will also continue to evaluate guarantee fees and make alterations to align them with risk. The last goal set forth in the Strategic Plan is to set a path for the future of housing finance. “”There are significant public policy questions and choices ahead on how to achieve an appropriate balance between the role of the private sector and the role of the U.S. Government as housing finance conditions change,”” according to the Strategic Plan. FHFA will work toward reducing the role Fannie Mae and Freddie Mac play in the housing market and promoting private sector participation. As part of paving the way toward a stable housing finance system in the future, FHFA will “”create robust and standardized pooling and servicing agreements,”” “”develop a new system for document custody and electronic registration of mortgages, notes, titles, and liens,”” and “”complete the implementation of the Uniform Mortgage Data Program.”” in Government, Secondary Market, Servicing October 10, 2012 453 Views Share
January 30, 2013 432 Views “”McLean Mortgage Corporation””:http://www.mcleanmortgage.com/, a privately held full-service mortgage lender based in Fairfax, Virginia, announced that the company closed more than $1.5 billion in mortgage volume in 2012, a 140 percent increase in production levels over 2011.[IMAGE][COLUMN_BREAK]McLean president Nathan Burch credited the company’s strong performance to its expanding sales force and superior service throughout the refinance boom–especially with regard to purchase loans.””While much of the industry focused upon refinances which ran at over 70 percent of total industry volume for the year, McLean Mortgage Corporation was able to average more than 40 percent purchase volume in 2012,”” Burch said. “”Our ability to hold underwriting turnaround times for purchase transactions to an average of 48 hours throughout 2012 was a key contributor to this success.””McLean CEO Pat Peavley said more growth is on the horizon for 2013 as the firm prepares to open its first office in Maryland.””We already have demand coming from the State of Maryland as our reputation for delivering great service has spread throughout the entire Washington Region,”” Peavley said. in Data, Government, Origination, Secondary Market, Servicing Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2013-01-30 Tory Barringer Share McLean Mortgage Corp. Closes $1.5B in Volume in 2012
in Data, Government, Origination, Secondary Market, Servicing August 16, 2013 439 Views Connecticut Home Sales Inch Up in Q2 Agents & Brokers Attorneys & Title Companies Home Prices Home Sales Investors Lenders & Servicers Processing Service Providers The Warren Group 2013-08-16 Tory Barringer Share The second quarter saw modest gains in home sales in Connecticut, according to the “”Warren Group””:http://www.thewarrengroup.com/.[IMAGE]Second-quarter sales of single-family homes totaled 6,898, a nearly 1 percent increase over Q2 2012. In June alone, home sales were up 0.4 percent (the second straight month of increases) to a total of 2,602. According to the group, it was the best month for sales since last August, which saw 2,639 transactions.Year-to-date, home sales statewide were 10,947, down about 1 percent.””The housing market in Connecticut continues to show slow growth,”” said Warren Group CEO Timothy M. Warren Jr. “”As long as mortgage rates and home prices don’t spike too high, we’ll see a very steady recovery year for the market in 2013.””[COLUMN_BREAK]Year-over-year, home prices were up 5.6 percent in June to a statewide median of $283,000–the highest median price for any month since August 2008. The year-to-date median sale price was $255,000, up more than 8.5 percent from the first six months of last year. Compared to the second quarter of 2012, Q2 2013 prices rose more than 8 percent to $269,000.””Buyers have become more active in the spring selling season, which is creating modest upward pressure on prices. While not a problem at this juncture, I hope for more modest increases in the future,”” Warren said. “”Unlike other parts of the country, Connecticut has not seen double digit increases in median prices. This is healthy. Keeping housing affordable while prices rise gradually will avoid the kind of housing bubble we saw seven or eight years ago.””On the condo side, sales increased 2 percent year-over-year in June, with second-quarter sales rising 2.5 percent compared to the same three months in 2012. Year-to-date, condo sales increased almost 1 percent compared to last year.The median sale price of condos also rose in June. According to the Warren Group, the median selling price was $176,000, up more than 7.6 percent year-over-year. The second-quarter median price was $175,000 (up more than 8 percent), while the year-to-date price was $168,000 (up more than 5 percent).
Share in Servicing “”Fay Servicing””:http://www.fayservicing.com/index.php, a Chicago-based special servicer, has earned stable outlooks from both “”S&P””:http://www.standardandpoors.com/home/en/us and “”Fitch Ratings””:https://www.fitchratings.com/web/en/dynamic/fitch-home.jsp.[IMAGE]From Fitch, Fay Servicing received Residential Subprime and Special Servicer Ratings of RPS3 and RSS3, respectively, with an “”Outlook Stable”” judgment. [COLUMN_BREAK]””The rating actions are based on Fay’s robust single point of contact (SPOC) model and integrated servicing technology,”” Fitch said in its ratings release. “”The ratings also incorporate Fitch’s overall concerns for the U.S. residential servicing industry which include the ability to maintain high performance standards while addressing the rising cost of servicing and changes to industry practices, mandated by regulators and other parties.””Meanwhile, S&P granted Fay Servicing a Residential Mortgage Subprime and Special Servicing Rating of average with a “”Stable Outlook.””””We are proud to have received these ratings especially at a time when the U.S. servicing industry continues to evolve in order to successfully face a variety of challenges associated with added regulations and changing market conditions,”” said Fay Servicing CEO Ed Fay. “”These results validate that we’ve built a strong foundation for future growth, including securitizations, and that we will continue to responsibly and effectively serve homeowners, lenders and investors for years to come.”” S&P, Fitch Issue Stable Outlooks for Fay Servicing December 12, 2013 428 Views Agents & Brokers Attorneys & Title Companies Company News Fitch Ratings Investors Lenders & Servicers Service Providers 2013-12-12 Tory Barringer
Fannie Mae Freddie Mac Mortgage Servicing Rights MountainView Servicing Group Purchase Loans 2014-12-12 Tory Barringer $2.7B Servicing Rights Portfolio Comes to Market December 12, 2014 464 Views Share A new multi-billion mortgage servicing rights (MSR) portfolio has hit the market, with bids due December 18.The offering, announced Friday, consists of Fannie Mae and Freddie Mac mortgages with more than $2.7 billion in unpaid principal balance, according to MountainView Servicing Group, which is acting as advisor on the sale.The portfolio features 100 percent fixed-rate and first-lien product, with purchase loans accounting for 80 percent of originations.”Given the portfolio size and the fact that it’s 100 percent retail and 80 percent purchase servicing, we expect a large amount of interest,” said Matt Maurer, managing director at MountainView. “We have marketed a lot of portfolios and rarely come across portfolios with this much purchase concentration.”Other quality features of the portfolio include a weighted average original FICO score of 746, a weighted average original loan-to-value ratio of 79 percent, and a weighted average interest rate of 4.51 percent. The average loan size is $207,263.The portfolio is concentrated in the West, with California accounting for the largest share of loans at 17.6 percent. Other top states include Arizona (16.4 percent), Utah (16.4 percent), and Colorado (9.7 percent). in Daily Dose, Headlines, News, Servicing
in Headlines, News, Origination, Servicing Correspondent Lending Division LenderLive Regional Account Executive 2016-01-07 Staff Writer LenderLive Names New Regional Account Executive for its Correspondent Lending Division January 7, 2016 586 Views Share Jenny KlamfothDomestic-based, end-to-end mortgage services provider, LenderLive recently announced that Jenny Klamfoth will occupy the role of regional account executive for the company’s Correspondent Lending division.She will report to Bob Kallio, SVP of Correspondent Lending at LenderLive.Klamfoth will work with current and prospective clients, primarily community banks and credit unions in Washington, D.C., Maryland, North Carolina, South Carolina, and Virginia, that are participating in or considering the LenderLive correspondent program.Klamfoth has over 15 years’ experience in the mortgage industry. In her most recent role, she was an account manager for Stonegate Mortgage, where she assisted in the development of its correspondent and emerging banking business channels. Prior to this, she was an account executive with Flagstar Bank where she was responsible for correspondent and wholesale business development. In addition, she also successfully managed the start up branch of Aegis Wholesale supporting North Carolina and South Carolina production.The correspondent program offered by the firm is designed to serve the needs of mid-tier and smaller originators that want to protect their customer relationships.“LenderLive’s Correspondent Lending division was designed to help our clients protect their customer relationships as they build their mortgage businesses,” said David Vida, president of Mortgage Services at LenderLive. “I’m confident that Jenny’s experience in both correspondent and wholesale lending will not only make her a valuable addition to our team, but also help us better serve our clients’ needs.”