Recent Posts

  • Aus signs open skies with Japan

    first_imgThe Australian Government has signed an open skies agreement with Japan’s leaders allowing an unrestricted number of direct flights between Australia and Tokyo’s Haneda Airport.The agreement signed late last week will see daily flights flying between Australian airports and Haneda, the removal of capacity between all Australian and Japanese airports with the exception of Tokyo’s Narita Airport.According to an online statement carriers will have unrestricted access between Australia and Narita Airport by 2013. Minister for Infrastructure and Transport Anthony Albanese said the agreement would mount to economic benefits, allowing up to one million people fly between the two countries each year.“It also makes it possible for Australian airlines to fly beyond Japan to third countries for the first time, including key markets such as China and Europe,” Mr Albanese explained.“The announcement further strengthens Australia’s strong bilateral aviation relationship with Japan and reinforces the importance of our economic links with one of Asia’s largest economies.” Minister for Tourism Martin Ferguson added that the extra seats between Japan and Aus would help Japan on its recovery post-quake as well as build a market that spends up to $1.2 billion in Australia every year.“The Australia-Japan market is Australia’s eighth largest and makes a considerable contribution to our economy as well as opening up tourism and trade opportunities,” Mr Ferguson said  “Passenger numbers are forecast to grow by 25 per cent by 2020. “These new arrangements will allow both countries’ airlines to capitalise on the continuing growth in passenger numbers and the business opportunities that will arise from tourism, trade and development in the region.” Source = e-Travel Blackboard: N.Jlast_img read more

  • A private island for you and 4 mates

    first_imgSource = e-Travel Blackboard: D.M Alex van Heeren in Sydney last week The team behind New Zealand’s renowned Huka Lodge has unveiled their latest venture, a private island retreat which only takes one booking at a time.Dolphin Island, Fiji, owned by Alex van Heeren since 1983 has only now been fitted out as a five star luxury retreat for one couple, or four couples which must be made with only a single booking.  “This is a truly private island, you cannot book a room.  You have to take the whole island, The island will not offer single rooms,” Mr van Heeren said during a brief visit to Sydney last week.With only four villas, fresh food is caught daily or brought in from neighboring islands, as well as nightly entertainment.Offering a total guest experience, the quality of service has been guaranteed as “Huka level”, according to Mr van Heeren.last_img read more

  • Aus to benefit from DJ restructure TTF

    first_imgSource = e-Travel Blackboard: N.J Virgin Australia’s international airlines restructure announced yesterday will “benefit Australia’s tourism sector”, according to the Tourism and Transport Forum (TTF).Chief executive John Lee said the carrier’s decision to move its international airlines business away from the restraints of Australia’s 49 percent foreign ownership laws, provides the airline room the grow which in turn will have a positive “outcome for tourism” down under.”As the demand for air travel continues to rise, it’s very important airlines have the ability to respond to that growth and invest accordingly,” Mr Lee said. “This restructure will give Virgin Australia better access to capital from foreign investors to allow it to sustain and grow its operations while still fully complying with relevant legislation.”He said the move could create new job opportunities across Australia while also boosting competition across the carrier’s servicing the Kangaroo route.  “Australia’s geographic location and the sheer size of our country mean that a healthy and competitive aviation industry is fundamental to the economy,” the Forum’s head added. “We rely on air links to bring in international visitors and to move people around the country for business and leisure.”Aviation is also vital for regional development, providing access to remote locations and helping disperse tourists beyond the gateway ports.”last_img read more

  • Qantas reduces Frequent Flyer charges

    first_imgThe Qantas Group has announced it will reduce charges for Frequent Flyer redemption bookings by up to AUD $130 and at the same time will gradually restructure its international tariffs so that fuel surcharges are absorbed into base fares.While global fuel prices have fallen in recent months, international air fares are extremely competitive and are significantly lower than when surcharges were first introduced 10 years ago.Qantas have made clear that due to the size of the airline’s international network the process to absorb fuel surcharges into international base fares for up to 200 destinations will take time.This change to Qantas’ international fare structure is in addition to its regular sales activity, as last week the airline lowered economy fares to Asia, the US and Europe by more than $300 as part of a sale.From tomorrow, fuel-related charges that currently apply to Frequent Flyer on Qantas and Jetstar Classic Award redemption bookings will fall by up to $110 in Economy and up to $130 in Premium Economy on some routes for a return flight.Qantas Group chief executive officer Alan Joyce, said that the trends in global aviation over the past decade shows that costs and competition have been increasing while fares and airline margins have been falling.“The dynamics of this market have seen Qantas International post significant losses in the past two years, factoring in lower fuel prices, IATA estimates that the net profit airlines make per passenger this year will rise by just $1 compared with last year, from $6 to $7,” Mr Joyce said.“In a highly competitive environment where customers are already paying less than they were several years ago, lower oil prices can help put the industry on a more sustainable footing, it means airlines are in a better position to invest.”In other Qantas news, the airline and the Australian Government today announced a collaboration to support ANZAC Centenary activities marking the 100th anniversary of the Gallipoli landings.Qantas has added a special flight for Australians travelling to Turkey for Anzac Day – the Boeing 747 seats 364 people and will depart Sydney for Istanbul on 21 April, via Perth. Source = ETB Travel News: Lewis Wisemanlast_img read more

  • Solomon Airlines to resume ALL services

    first_imgSolomon Airlines to resume ALL servicesSolomon Airlines to resume ALL servicesSolomon Airlines will resume full operation of all international and domestic services from tomorrow, Thursday, 09 June 2016.The airline has advised it will operate one international flight today from Honiara to Brisbane (Wednesday, 08 June 2016) before full international and domestic flights recommence tomorrow.Today’s service will operate as follows:Wednesday  08 June      –             IE 700/QF 380                     HIR-BNE    1900 / 2115The airline will also resume all services provided to all other airlines utilising Henderson International Airport in its capacity as ground handling agent.Captain Sumsum said Solomon Airlines unreservedly apologised for any inconvenience the situation had caused the airline’s passengers, its codeshare partners and other international carriers and their passengers.For further flight updates visit www.flysolomons.com.Passengers seeking additional information may contact Solomon Airlines Australian Office, telephone toll free on 1300 894311 or + 61 3860 5883 or Solomon Islands Travel Centre in Honiara, telephone + 677 20152. Solomon Airlinesbook your flights hereSource = Mike Parker-Brown, Solomon Airlines PRlast_img read more

  • Romance is alive and well at the five star Corinthia Lisbon

    first_imgRomance is alive and well at the five star Corinthia LisbonRomance is alive and well at the five star Corinthia LisbonThe five-star Corinthia Hotel Lisbon has created a romantic package for Valentine’s Day, revolving around the hotel’s decadent Spa and Wellness Club which is lavishly spread over 37,673 sq feet of sophisticated and exclusive facilities.The experience begins with an indulgent spa ritual for two in the private Spa Suite. The 50-minute relaxing aromatherapy, full-body massage kicks off the indulgences, helped by spa treats of two fluted of champagne and strawberries dipped in chocolate.Couples can then enjoy a 30-minute hydrating facial and a dip in the Jacuzzi and Steam Room.Rose petals and tea lights add romantic touches to the guest bedrooms, while early check-in and late check-out – subject to availability –  allows maximum time to enjoy the pampering stay.The price of the package starts from Euros 462 (approximately $481.10)  per room.The package includes:Accommodation with full buffet breakfastCouples Suite full body massage and facialComplimentary early check-in and late check-out, subject to availabilityOffer is valid  February 1st to 28th 2017 for one, two, three of four nights’ stayThe offer is subject to availability and blackout dates may applyReservations must be guaranteed to credit card at time of bookingRates are inclusive of VAT but exclusive of City Tax (Euros1 per person, per night)Cancellation policy: 48 hours before arrivalLate cancellation or no shows will be charged in fullAbout Corinthia Hotel LisbonThe five-star Corinthia Hotel Lisbon offers 518 rooms, including 24 Executive Suites, 1 Ambassador Suite and 1 Presidential Suite, and state-of-the-art facilities. Boasting stunning views over the eighteenth-century Aqueduct and the beautiful Monsanto Natural Park, Corinthia Lisbon exudes the Portuguese Spirit of Discovery. The hotels’ Sete Colinas and Típico restaurants offer a fusion of innovative Portuguese, contemporary Mediterranean and International cuisines, and the Terrace Lounge offers al fresco dining and lounging. The Spa and Wellness Club features 3,500 square meters of sophisticated and exclusive facilities, including face-and-body-ritual luxury suites, state-of-the-art Acqua area,  heated indoor swimming pool, natural solarium and a fully equipped gym. Corinthia Lisbon’s Conference Centre offers unparalleled levels of elegance, connectivity and intuitive service, with a capacity for up to 1,400 delegates. Corinthia Lisbon, opened in 2004, is a 21st-century upscale hotel located 7 km from the airport and only short distance from the historic city centre, with excellent public transportation links. Created with a passion for craftsmanship and an understanding of world-class service, Corinthia Lisbon is a member of Corinthia Hotels’ collection of five-star luxury hotels founded by the Pisani family of Malta. Source = Corinthia Hotel Lisbonlast_img read more

  • Cathay Pacific boosts European connectivity with Iberia codeshare agre

    first_imgCathay Pacific boosts European connectivity with Iberia codeshare agreementCathay Pacific has announced a new codeshare agreement with oneworld partner Iberia, which will see its customers benefit from extensive new connections to destinations in the Iberian Peninsula and the Balearic Islands.The codeshare agreement signed by the two leading oneworld carriers will see Cathay Pacific place its “CX” code on selected services operated by Iberia between Madrid and five popular destinations in Spain: Alicante, Barcelona, Bilbao, Palma and Valencia. The “CX” code will also be placed on Iberia’s scheduled flights between Madrid and Lisbon, Portugal’s capital and largest city.Cathay Pacific currently operates four weekly flights between Hong Kong and Madrid with its Boeing 777-300ER aircraft. The airline will launch a new seasonal summer service to Barcelona with the Airbus A350-900 aircraft from July.Cathay Pacific customers travelling on Iberia codeshare flights from Madrid will enjoy the convenience of checked-through baggage service to their final destination, in addition to being eligible to earn Asia Miles on their trip.Cathay Pacific Chief Customer and Commercial Officer-designate Paul Loo said: “As one of the founding members of the oneworld alliance, we are delighted to work with our oneworld partner, Iberia, to offer our customers with more travel options to and within Spain and Portugal. This new cooperation enables us to strengthen our connectivity in our expanding Europe network as well as grow the oneworld alliance.”Neil Chernoff, Iberia Network and Alliances Director, said: “We are pleased to enhance the cooperation with ouroneworld partner Cathay Pacific and provide additional connectivity with their new flight to Madrid. The codeshare cooperation will provide customers in Spain and Portugal a convenient one-stop option for travelling to Hong Kong. It will also open up additional destinations on the Iberian Peninsula for Cathay’s customers traveling from Asia, promoting both business and tourism opportunities in Spain. Cathay’s customers will enjoy our onboard product and services and the seamless transfer experience we have developed in our Hub at Madrid Barajas Terminal 4.” Cathay PacificSource = Cathay Pacificlast_img read more

  • Huntington Beach Hotel makeovers and updates

    first_imgPasea Guest RoomHuntington Beach Hotel makeovers and updatesSurf City USA is thriving with the introduction of new culinary, cultural and hotel updates for travelers chasing the sun and looking for that quintessential Southern California experience.Hyatt Regency Huntington Beach Enhances Visitors StayThe Hyatt Regency Huntington Beach has completed a renovation of all 514 guest rooms. The resort has been redesigned to exude a residential Mediterranean vibe, reflecting the Andalusian style of the hotel’s architecture. New room amenities include illuminated bathroom mirrors with integrated clocks, 65” mounted TVs, updated beds, furnishings, fresh wall coverings and flooring. A half-dozen rooms on the ground floor are in line to get newly landscaped patio areas and fire pits. Just last year, the resort revamped the outdoor pool and added luxury cabanas. Family-friendly amenities return this summer – complimentary Disneyland shuttle, pooltime entertainment “Dive In Movies” and “Mermaid Magic,” and a live music in the retail courtyard.The Waterfront Beach Resort Continues $140 Million ExpansionThe Waterfront Beach Resort, a Hilton Hotel is currently undergoing a $140 million expansion adding a new nine-story 152 room all-suites tower, the Twin Dolphin Tower. Additionally, they’ve added a new restaurant, The Boardwalk Restaurant, ocean-view lounge, pool deck and waterslides, and event lawn on an adjacent 3.5- acre parcel south of the existing hotel. Offshore 9 is a unique lounge located on the 9th floor of the new tower. Take in stunning panoramic views from Orange County’s highest coastal rooftop lounge and enjoy a menu of small plates and handcrafted specialty cocktails or a selection of high-end wines and champagne by the glass. Opening this summer is Driftwood Beach Club – a customizable bonfire experience located at the pool deck offering a menu of cocktails, craft beer and small bites.The Kimpton Shorebreak Hotel Brings Edge To Surf City USAThe Kimpton Shorebreak Hotel completed a $3 million renovation last year adding a new 24-hour fitness center complete with a 40-foot wide rock climbing wall and Crossfit-style equipment. The Shorebreak also unveiled upgrades to its 157 guestrooms and public areas propertywide. Drawing inspiration from the hotel’s coastal location, active local community and vibrant outdoor lifestyle, the rooms feature sleek and modern art and graphics, moody ocean shades, windswept ripples and retro inspired prints and furnishings. In addition, its restaurant, Pacific Hideaway draws inspiration from global surf destinations for its menu and has an award-winning cocktail program, led by local bartender, Casey Lyons.Pasea Hotel & Spa Celebrates Two Years Of LuxuryPaséa Hotel & Spa is located on the Pacific Coast Highway overlooking the Pacific Ocean and steps from the iconic Huntington Beach Pier and Pacific City, the area’s newest retail and dining hub. The property features 250 beautifully-appointed ocean view guestrooms and suites; Tanner’s – a signature restaurant with a fire pit adorned rooftop deck bar; Aarna Spa, a Balinese-inspired spa with indoor and outdoor treatment areas and state-of-the-art fitness facilities; two swimming pools; and more than 34,000-square-feet of indoor and outdoor meeting spaces. The hotel features a dedicated Beach Butler, surfboard storage and custom amenities in rooms.Source = Surf City USAlast_img read more

  • Bulgaria aims to increase brand awareness to boost tourism

    first_imgBulgaria’s Tourism Ministry is focused on making the country “a year-round destination and among the top destinations in Europe,” said Tourism Minister Nikolina Angelkova. The “big challenge of brand-awareness” however poses itself as an obstruction to its potential for meeting these goals.Bulgaria is also working together with its Balkan neighbours to offer joint regional products on the vast Asian market, reported the Minister.last_img

  • Taiwan projects itself as the ideal youth destination

    first_imgTaiwan, with its exotic landscape, continues to attract the new generation tourists who are willing to understand and uncover the gem that resides in its geography. Flaunting a mosaic of scenic beauty, the destination can satisfy the quest of young travellers. Young educated youth with an easy access to technology and available information find the Taiwanese cities fascinating to travel and engage in a plethora of youthful activities.The dazzling metropolis of Taipei is home to a number of youthful and cosmopolitan experiences. One can explore the iconic landmark of Taipei 101, shop in the bustling night markets or go clubbing in the sprawling clubs to soak in the infectious vibe of the city that never sleeps. Steeped in tradition and culture, Taipei is home to famous monuments, landmark sites and premier centers for performing arts. Moving further away from Taipei, Hsinchu, Hualein, Kaohsiung, Taichung, Puli and many other destinations offer a myriad of experiences.As a land of rugged mountainous terrain, it is the most sought after destination for adventure travellers. Travellers can participate in outdoor activities like underwater adventure in the tropical surface, hiking in the foothills close to the city or climbing the roof of Taiwan, Mt Hade at nearly 4000 m above sea level, the highest mountain in Northeast Asia.Moreover, economical stays and warm hospitality of the locals makes it very convenient for youngsters to travel to Taiwan.last_img read more

  • PATA reaffirms support to Paris Accord on Climate Change

    first_imgThe Pacific Asia Travel Association (PATA) has reasserted its commitment to sustainable development across the entire spectrum of travel and tourism with a renewed pledge to support the Paris Accord, within the United Nations Framework Convention on Climate Change.Embedded within this PATA advocacy theme is an acknowledgement and recognition that tourism must play an influential role in preserving the planet’s natural resources by adopting effective, sustainable practices.PATA CEO, Dr Mario Hardy said, “Our members, both public and private sector, are leading by example. They recognise that responsible business practices must embrace practical measures to offset the potentially irreversible damage to our planet caused by climate change.”He has welcomed the responses and statements of leading business figures such as Apple CEO Tim Cook and Tesla Inc; Co-Founder Elon Musk as well as the Governors of several U.S. states that have also reaffirmed their commitment to combating climate change.Dr Hardy further added, “Now is the time to reinforce our determination for the principles and objectives of the Paris Agreement under the United Nations Framework Convention on Climate Change. This agreement has now been ratified by 147 nations and territories. We encourage more nations to sign and to support practically the efforts to reduce carbon emissions.”Many facets of positive hospitality at AccorHotelsA year ago, AccorHotels unveiled its new, ambitious CSR commitments for 2020. The group’s sustainable development program, Planet 21, focuses on four fields of action, namely employees, guests, partners and local communities, as well as two priority issues, food and sustainable buildings.Over 500 urban vegetable gardensAccorHotels, which is present in 1,700 cities worldwide has committed to developing urban farming and to planting 1,000 vegetable gardens by 2020. Through the initiative, the hotel provides its guests with healthy and fresh produce which is grown organically and in-house. This initiative allows the hotel to provide guests with the best gastronomical experience, while also fulfilling responsibilities towards environmental conservation.All the produce generated is scientifically cultivated using natural farming techniques with no use of artificial chemicals and pesticides. To sensitise the guests about the initiative and create awareness about the importance of environmental protection and sustainable agricultural practices, the hotel encourages guests to try their hand at farming as well.Less Food Waste38 hotels in 13 countries are already using connected solutions to fight food waste in their kitchens and restaurants. The initiative has cut food waste by nearly 60% in the pilot hotels’ kitchens. That’s a total of €540,000 in estimated savings.To minimise wastage of food, ibis and Novotel Bengaluru Techpark and Pullman and Novotel New Delhi Aerocity have installed an Organic Waste Composter within the hotel premises. With the help of this composter, spoiled and leftover food scraps are composted which in turn provide nutrition to the soil and enhance its quality.One of Planet 21’s two priorities is to achieve carbon neutral buildings. In 2016, the Group cut its energy consumption by 2.4% and CO2 emissions by three percent. These results are even more encouraging because they were achieved despite particularly unfavourable world weather conditions in 2016 compared with 2015 since demand for heating and air-conditioning increased more than four percent.last_img read more

  • Weak Job Growth Continues Through January

    first_img February 7, 2014 442 Views Unemployment,Weak Job Growth Continues Through January in Government Agents & Brokers Attorneys & Title Companies Bureau of Labor Statistics Investors Jobs Lenders & Servicers Service Providers Unemployment 2014-02-07 Tory Barringercenter_img Share The “”Bureau of Labor Statistics'””:http://www.bls.gov/ (BLS) Friday jobs report shows another disappointing month of growth in January–and this one can’t all be blamed on the weather.[IMAGE]According to the “”government’s latest data””:http://www.bls.gov/news.release/empsit.htm, total nonfarm payroll employment rose by 113,000 last month, adding more bleak numbers to December’s barely revised growth of 75,000.The unemployment rate edged down slightly to 6.6 percent. Since October, the jobless rate has fallen more than half a percentage point, largely thanks to declines in the number of people counted as being part of the labor force.[COLUMN_BREAK]There’s a little bit of good news, though: After falling in December the civilian labor force participation rate inched up slightly to 63 percent, with 499,000 people entering the work force.With the next Federal Open Market Committee (FOMC) meeting to be held in March, it remains to be seen how January’s data will influence the Federal Reserve’s stimulus program. In its “”last meeting””:https://themreport.com/articles/fed-officials-agree-to-continue-tapering-asset-purchases-2014-01-29, the committee brushed aside December’s dismal report as an anomaly in the midst of otherwise active economic growth. However, with the latest data indicating weakening, Fed officials may feel compelled to hold off on future cuts to asset purchases.Despite the cold conditions, the construction sector fared particularly well last month, growing by 48,000 jobs to offset a decline of 22,000 in December. Residential building jobs grew by 13,000.Growth also occurred in manufacturing (+21,000), wholesale trade (+14,000), and professional and business services (+36,000).Meanwhile, federal government employment continued to trend down, losing 12,000 jobs throughout the month.last_img read more

  • Wells Fargo CFO to Take Over Wholesale Banking

    first_img Share in Headlines, News, Uncategorized Movers & Shakers Wells Fargo 2014-04-03 Tory Barringer April 3, 2014 478 Views center_img Wells Fargo announced a small shakeup in leadership. Effective May 15, current CFO Timothy J. Sloan will take over a new position as head of the bank’s Wholesale Banking group, with EVP John R. Shrewsberry stepping up to the CFO role.Sloan is a veteran at Wells Fargo, having worked at the bank for 26 years. Before stepping in as CFO in 2011, he was Wells Fargo’s chief administration officer, serving prior to that as head of commercial banking, commercial real estate, and specialized financial services.“There is nobody more suited than Tim to continue our Wholesale Banking business strategy and apply his passion for serving customers to drive new opportunities across an area of the company where he has extensive expertise and abilities,” said John Stumpf, Wells Fargo’s chairman and CEO.As head of Wholesale Banking, Sloan will succeed David A. Hoyt, who has worked 32 years at Wells Fargo, half of which was spent managing the Wholesale Banking business. After stepping down from his position, Hoyt plans to stay at the bank until June 30, at which point he plans to retire.Of his retirement, Hoyt said, “It has been a privilege to have been part of Wells Fargo over the years, and especially through the industry’s largest-ever merger. Wells Fargo has never been stronger or enjoyed more valuable customer relationships than it does today. … I am retiring confident in Wells Fargo’s future and that our wholesale banking customers are in excellent hands.”Meanwhile, Shrewsberry, currently head of Wells Fargo Securities, will assume oversight of the company’s financial management functions, its investment portfolios, and its corporate properties functions as CFO and senior EVP. Prior to his current position, Shrewsberry was head of Wells Fargo Commercial Capital, the successor to a commercial finance company he co-founded that became part of Wells Fargo in 2001. In addition to his current position, he is also a member of the market risk committee, the enterprise risk management committee, and the firm’s management committee.“Given his strong financial background spanning more than 20 years and his proven leadership ability, John is well positioned to lead Well Fargo’s established world-class finance team,” Stumpf said, adding, “Today’s appointments represent a natural evolution of executive responsibilities at our company. They also demonstrate the deep bench of high-caliber leaders at Wells Fargo and the value of rotating them into different roles to effect seamless leadership transitions.” Wells Fargo,Wells Fargo CFO to Take Over Wholesale Bankinglast_img read more

  • Wells Fargo Head of Home Lending Announces Retirement

    first_img August 12, 2015 531 Views Wells Fargo Head of Home Lending Announces Retirement Home Lending Mortgage Production Wells Fargo 2015-08-12 Staff Writer in Headlines, Newscenter_img Michael J. HeidWells Fargo EVP and head of Home Lending Michael J. Heid announced on Wednesday that he will retire after nearly 28 years with the bank and 11 years with Wells’ mortgage division.Effective October 1, 2015, Heid will be succeeded as head of Home Lending by Franklin Codel, who currently serves as EVP and head of Mortgage Production at Wells Fargo. Codel will be responsible for overseeing the business and strategic direction of Wells Fargo’s Home Lending division, which currently includes 45,000 team members.To ensure a smooth transition, Heid will remain in his current position with Wells Fargo until September 30 and will stay with the company until the end of the year.“Home lending is a cornerstone of our business – and a cornerstone of the American dream,” said John Stumpf, Wells Fargo’s chairman and CEO. “Mike has led our home lending organization with a deep focus on helping families achieve their dreams of owning a home and he’s done so with uncompromising integrity. Over a distinguished career spanning three decades, Mike has helped our company and the entire housing industry navigate unprecedented challenges and prepare for the future. His impact will be felt for many years to come.”Heid joined legacy Norwest Mortgage, now Wells Fargo, in 1988 and served in such leadership positions as Chief Financial Officer and head of Loan Servicing before being named co-president of Wells Fargo Home Mortgage (WFHM) in 2004. He was named president of WFHM in 2011.”Mike’s calm, thoughtful and decisive leadership has had a profound and meaningful impact on Wells Fargo and one of his most important contributions has been to build a truly remarkable organization and a deep bench of extraordinary leaders,” said Avid Modjtabai, Senior EVP of Consumer Lending at Wells Fargo.Over the years, Heid has been actively involved in legislative and regulatory policy matters that affect the mortgage industry. He currently serves as chairman of the Lending and Leasing Committee of the Financial Services Roundtable.”Mike played an integral role in aligning the industry during a critical time, by displaying unparalleled leadership in working with the Bush Administration and the U.S. Treasury Department during the height of the U.S. housing crisis,” said Ed Delgado, president and CEO of The Five Star Institute. “The industry and the country should be thankful for his efforts.”Codel has worked in the mortgage industry for more than 26 years. He has been the head of Wells Fargo’s Mortgage Production unit since 2011, which has included sales, operations, quality, compliance, and underwriting. Prior to serving as head of Mortgage Production, he provided financial leadership for WFHM in the position of head of Mortgage Finance from 2004 to 2011. He previously spent eight years with Norwest Mortgage and served as in various finance, capital markets, and credit roles in three years with Prudential Mortgage. Before joining Prudential, Codel worked at Citicorp Mortgage for four years.”We are incredibly fortunate to have Franklin Codel as our new head of Home Lending,” Modjtabai said. “He is an enthusiastic and tireless advocate for homeowners and exactly the right leader to build on our momentum, work with regulators and other stakeholders and help us continue to deliver an exceptional experience for customers in every interaction. Congratulations to both Mike and Franklin; because of them, we have a track record we can be very proud of and a bright future ahead.”Editor’s note: The Five Star Institute is the parent company of MReport and TheMReport.com. Sharelast_img read more

  • CFPB Provides Closer Look at Updated Servicing Rules

    first_imgCFPB Provides Closer Look at Updated Servicing Rules By Kendall BaerOfficials from the Consumer Financial Protection Bureau (CFPB) spoke to attendees from all sectors of the mortgage industry at the Consumer Financial Protection Bureau Industry & Servicer Training Update during the 2016 Five Star Conference and Expo in mid-September.CFPB representatives Laurie Maggiano, Manager for Servicing and Securitization Markets, Research, and Regulation, and Laura Johnson, Senior Counsel in the Office of Regulations, presented an overview of policy and programs that impact the mortgage industry based off of the recently published rules in August. This was the first time the Bureau provided an in-depth, in-person training since the promulgation of the new servicing rules.The finalized rules dictate that servicers must provide certain borrowers with foreclosure protections more than once over the life of the loan. According to the CFPB, this change will be particularly helpful for borrowers who obtain a permanent loan modification and later suffer an unrelated hardship, such as the loss of a job or the death of a family member, that could otherwise cause them to face foreclosure.Servicers must also clarify borrower protections when the servicing of a loan is transferred and provide important loan information to borrowers in bankruptcy.The updated rules also more clearly define various roles in the foreclosure process. For those who inherit property, the potential foreclosure process has been especially perilous. The updated rules establish a broad definition of “successor in interest” that generally includes persons who receive property upon the death of a relative or joint tenant, via divorce or legal separation, through certain trusts, or from a spouse or parent and gives them, generally, the same protections outlined under the CFPB’s mortgage servicing rules as the original borrower.These amendments also require servicers to notify borrowers when loss mitigation applications are complete and provide greater protection for struggling borrowers during servicing transfers. The rules also clarify servicers’ obligations to avoid dual-tracking and prevent wrongful foreclosures, as well as when a borrower becomes delinquent.To read more about the CFPB’s updated rules click HERE.To view the presentation material from the CFPB Industry & Servicer Training Update click HERE.Editor’s note: The Five Star Institute is the parent company of MReport and TheMReport.com. September 20, 2016 511 Views in Daily Dose, Government, Headlines, Newscenter_img CFPB Updated Mortgage Servicing Rules 2016-09-20 Seth Welborn Sharelast_img read more

  • Pavaso Partners With Closing Exchange for Mobile Closing Services

    first_img in Data, Headlines, journal, News, Origination, Servicing California-based The Closing Exchange announced that they have partnered with Pavaso, the provider of a collaborative eClosing platform, to deliver nationwide mobile closing services through The Closing Exchange’s network of trained and certified signing agents. The two technology leaders partnered to expand Pavaso’s signing service coverage and system expertise leveraging The Closing Exchange’s training and performance management capabilities across the nation.“Our partnership with Pavaso will expand their signing agent network with our vetted, trained and tested notary network,” said Alan Frelix, CEO of The Closing Exchange. “Our mutual clients, including lenders and title agents, will benefit from our proven training capabilities to train and certify our signing agent panel on the Pavaso system.”Frelix continues, “This partnership expands The Closing Exchange’s ability to provide its clients with expanded choices for how the signer wants to conduct its closing, including fully digital closings, hybrid closings, and traditional mobile notary closings, leveraging the nation’s most comprehensive, vetted, and trained panel of notaries along with The Closing Exchange’s communicative service model and technology.””We are excited to partner with The Closing Exchange.” said Nancy Pratt, VP Partner Relations and Government Affairs for Pavaso. “Our focus is to provide best-in-class service on all loans closed on the Pavaso platform, as well as to ensure that the borrower has an exceptional closing experience. Their understanding of the mortgage process and workflow will ensure that borrowers, lenders, and real estate agents have the best closing experience, every time.”Texas-based Pavaso works to transform the mortgage process with innovative digital mortgage closing technology facilitating fast, consistent, accurate and compliant closings every time. Pavaso offers a single, collaborative, secure portal promoting transparency, efficiency, consumer education and communication in a seamless format delivering value to every stakeholder involved in the transaction.The Closing Exchange offers dynamic vendor management and signing services to the mortgage, reverse mortgage, auto lending, and structured settlement industries provided by a trained and trusted network of notaries and attorneys. Company News Pavaso The Closing Exchange 2018-06-08 David Wharton June 8, 2018 846 Views center_img Share Pavaso Partners With Closing Exchange for Mobile Closing Serviceslast_img read more

  • Moodys Rates Wells Fargo RMBS

    first_imgMoody’s Rates Wells Fargo RMBS in Daily Dose, Featured, News, Secondary Market Rating agency, Moody’s Investor Services, has assigned a provisional rating to the 24 classes of Wells Fargo’s first residential mortgage-backed securities (RMBS). The bank has reentered the RMBS market after a decade with the Wells Fargo Mortgage Backed Securities 2018-1 Trust (“WFMBS 2018-1”).The WFMBS 2018-1 transaction consists of the securitization of 660 primarily 30-year, fixed rate, prime residential mortgage loans with an unpaid principal balance of approximately $441 million, Moody’s indicated.Giving the securitizations a rating range from (P)Aaa (sf) to (P)Ba1 (sf), Moody’s said, “The pool has strong credit quality and consists of borrowers with high FICO scores, significant equity in their properties and liquid cash reserves. The pool has clean pay history and is seasoned for almost 18 months.”According to Moody’s the mortgage loans for this transaction are originated by Wells Fargo Bank in accordance with the non-conforming underwriting guidelines. All of the loans are designated as qualified mortgages (QM) under the QM safe harbor rules, the rating agency said.Speaking to DS News, a spokesperson for Wells Fargo had recently said that the offering would include recently originated non-conforming, prime loans that were “consistent with those we have been putting on our balance sheet for the past several years.”The rating also gave insights into how Wells Fargo planned to service the loans. It indicated that the bank would be the master servicer for this transaction.Wells Fargo will service all the loans and will also be the master servicer for the transaction. who will be primarily responsible for funding certain services advances and delinquent scheduled interest and principal payments for the mortgage loans, unless they determined that such amounts would not be recoverable.”In the event a servicer event of default has occurred and the Trustee terminates the servicer as a result thereof, the master servicer shall fund any advances that would otherwise be required to be made by the terminated servicer (to the extent the terminated Servicer has failed to fund such advances until such time as a successor servicer is appointed and commences servicing the mortgage loans,” Moody’s said. “The master servicer and servicer will be entitled to be reimbursed for any such monthly advances from future payments and collections (including insurance and liquidation proceeds) with respect to those mortgage loans.”The bank couldn’t have picked a better time to enter this market with the issuance of private-label RMBS hitting a post-crisis high of $75 billion in 2018, according to a recent Bloomberg report, due to heavy investor demand for non-qualified mortgage transactionsWells Fargo had been one of the top RMBS lenders before the crisis with more than $1 trillion worth of mortgages sold in 2005 and 2006, the Bloomberg report said. October 11, 2018 744 Views center_img Default Delinquency Moody’s RMBS mortgage Securities Wells Fargo 2018-10-11 Radhika Ojha Sharelast_img read more

  • You might also be interested in

    first_img You might also be interested in Mexican avocado exports to U.S. surge 25% in Cinco … June 14 , 2018 U.S. avocado market remains strong following price … U.S.: Listeria concerns prompt pre-emptive Henry A … center_img With Colombia now enjoying its first full year of U.S. avocado market access, exporters from one of its neighboring countries could soon receive the same privilege.The U.S. and Plant Health Inspection Service (APHIS) today announced it is proposing to allow imports of fresh avocados from continental Ecuador into the U.S.After a thorough review, APHIS said scientists had determined the fruit can be safely imported under a systems approach to protect against the introduction of pests. In this case, the systems approach includes production site requirements, packinghouse requirements, shipment of commercial shipments only, and inspection of each shipment. Avocados that are ineligible for export under the systems approach may still be imported following approved treatment, such as irradiation.APHIS said it would accept public comments on the proposal until August 14.Although Ecuador is wedged in between avocado industry powerhouse Peru and up-and-comer Colombia, the country’s Hass avocado sector is still relatively young.Related articles: Ecuador next in line for Hass avocado boomWhere is Ecuador’s budding avocado sector exporting its fruit? Apeel Sciences to join Europe’s fight against fo …last_img read more

  • Mexican avocado exports to US surge 25 in Cinco

    first_img Mexican avocado exports to U.S. surge 25% in Cinco … In this ‘In Charts’ series of mini-articles, Colin Fain of data visualization tool Agronometrics illustrates how the U.S. market is evolving. In each series, he will look at a different fruit commodity, focusing on a different origin or topic in each installment to see what factors are driving change.To celebrate Chile’s Independence Day on Sept. 18, I thought I would jot down a few words about their upcoming avocado season. With a good amount of fruit on the water, it will be interesting to see how many Chileans this article will be able to pry away from their barbecues.Lined up right after the U.S. and Peruvian seasons and roughly coinciding with the beginning of Mexico’s, Chile has been shifting its commercial strategy over the last few years to target the point of the year with the least amount of fruit – that sweet spot right around September, October and November. In 2017-2018, exports to the U.S. represented 13% of the country’s total production, according to industry body the Hass Avocado Committee.US Avocado Movements by Origin 2017-2018(Source: USDA Market News via Agronometrics)But this wasn’t always the case. Stepping back in time we can see that Chile had a much more prominent role in the U.S., where it used to send upwards of 80% of exports. Chile’s season naturally runs about a month or so before Mexico, meaning that much of their volumes overlap. Chile has found it harder to compete directly with the U.S.’s southern neighbor’s limited shipping costs and time to market, which is what has been driving the change in strategy.Given the massive distance that Chilean fruit has to travel, growers long ago focused on cultivating high-quality fruit that can survive the voyage, giving them a competitive advantage in other markets. The country has reduced its risks by diversifying and sending more and more fruit to Europe, their regional neighbors, the Middle East and China.That said, the U.S. is still an important market and the world’s largest consumer of the fruit. Chile’s well-established producers are in a position where they can choose where to ship to, allowing them to shift volume to the U.S. or other markets depending on where they have better returns.US Avocado Movements by Origin 2010-2011 September 17 , 2018 You might also be interested in (Source: USDA Market News via Agronometrics)With the high prices that the U.S. has seen during August and September over the last couple of years, the market is an attractive but risky option for Chilean exporters. With travel times that range from three to six weeks – and another two weeks after arrival before the fruit is commercialized – the massive fluctuations in the market could mean fruit that was shipped out while prices were high could arrive once the market has bottomed out again.As the Chilean season comes on board it will be interesting to see how they distribute their crop, which, even though it was reported to have suffered from some frosts in July, is expected to total around 245,000 metric tons – a 12% year-on-year increase on last year, according to the Committee.Avocado Historic Monthly Shipping Point Prices(Source: USDA Market News via Agronometrics)In our ‘In Charts’ series, we work to tell some of the stories that are moving the industry. Feel free to take a look at the other articles by clicking here.Agronometrics is a data visualization tool built to help the industry make sense of the huge amounts of data that you depend on. We strive to help farmers, shippers, buyers, sellers, movers and shakers get an objective point of view on the markets to help them make informed strategic decisions. If you found the information and the charts from this article useful, feel free to visit us at www.agronometrics.com where you can easily recreate these same graphs, or explore the other 20 fruits we currently track, creating your own reports automatically updated with the latest data daily.To welcome avocado professionals to the service we want to offer a 5% discount off your first month or year with the following coupon code: AVOCADOSThe code will only be good till the 24th of September, so visit us today.center_img Apeel Sciences to join Europe’s fight against fo … Australia expects bumper avocado crop, plans expor … South African avocado export forecast up, EU price …last_img read more

  • The Philippines overwhelmed by millionsstrong man

    first_img The Philippines overwhelmed by millions-strong man … Guatemalan mango exports to U.S. get underway in … USA Pears has announced it teaming up with the National Mango Board (NMB) to highlight to retailers the importance of getting ripe fruit to customers.The pear brand, which covers fruit grown in Washington and Oregon, is coordinating with the National Mango Board ripening program.The Pear Bureau Northwest said that mangoes make for a logical fit because they have a similar opportunity to pears.”The industry buzz right now is around pear flavor and getting the best tasting fruit into consumers’ hands and stomachs,” said Pear Bureau Northwest CEO Kevin Moffitt.”With this in mind, the Pear Bureau will be focusing resources on a refresh of the pear category, capitalizing on industry momentum, a full crop, and renewed retail interest.”He emphasized that while a good-looking piece of fruit or a big, beautiful display may catch the eye of consumers and generate a purchase, a great tasting piece of fruit will bring them back for more.Conditioned pear program growsThrough research commissioned by Pear Bureau Northwest, it is known that the consumers buying 74 percent of USA Pears are 25 to 45 years old, with the majority under 34.According to a 2014 Usage and Attitude Study conducted by Fusion Marketing, the majority of consumers want to eat pears within one to three days of bringing them home. One cornerstone of the organization’s efforts to satisfy the consumer desire for tasty fruit soon after purchase is through a conditioned pear program that can get consistent, riper fruit on the shelves of retailers.Throughout the 2018-19 season, Pear Bureau Northwest will be focused on an aggressive reintroduction of the conditioned pear program. The Pear Bureau has had an active push toward conditioning for many years, collecting and conducting research on the proper way to condition pears and the benefits of conditioning.There are currently 42 retailers in the U.S. and Canada that are carrying conditioned pears. This is a solid base, but it has been slower to increase in the past few years.Recently, the organization revamped the conditioned pear section on its website dedicated to providing retailers with research, data, and education to show that committing to a conditioned pear program can lead to double-digit sales increases.Among the information presented, the page highlights 2012 research by Nielsen Perishable Group, which found that ripe pears can outsell unripe pears by 19.5%.”Many retailers also understand the consumer’s desire for ripe, great tasting fruit, so we are redoubling our efforts to show them how they can achieve that through a conditioning program,” said Moffitt. October 16 , 2018 Japan: Pair of premium mangoes sell for record US$ … Mangoes In Charts: Mid-year update – how does this … You might also be interested inlast_img read more