Seashells recognises outstanding employee

first_imgThe Pearl of Australia’s North West, Broome enjoys a sub-tropical climate and is a great base for exploring one of the worlds final frontiers – the Kimberley –with its pristine wilderness areas with magnificent gorges, waterfalls, ancient rock formations and important Aboriginal heritage. “This is a lovely acknowledgement.  I’m lucky to be working in a beautiful part of the world and with a fantastic team who are like family. It’s not hard for me to love my job,” Jocelyn said.  The property is located a short stroll away from Broome’s iconic Cable Beach, a 22km stretch of white sand and sparkling blue sea. Seashells Broome general manager Deb Williams said Jocelyn was a worthy winner. “She is an outstanding employee who truly brings value to Seashells Broome. Not only does she keep our guests happy, but she also has great initiative, going above and beyond her duty for staff and guests and is an excellent role model.  “Jocelyn embodies the values and philosophy of Seashells, and she continually sets a standard of excellence in her daily work performance,” she said.center_img “She is always smiling and happy and willing to help out wherever needed,” Deb said.Jocelyn has been with Seashells Broome since 2006 when she worked in the housekeeping department for several months before a brief break in Perth.  She returned to Broome in 2007 as part-time receptionist and within a year was appointed to front office supervisor.  Jocelyn continues in this role and is also the Seashells Broome live-in caretaker with husband Murray. Jocelyn, a mother of two and grandmother of four, was pleased and proud to receive the award. One of the North West’s most popular family holiday properties, Seashells Broome, has awarded front office supervisor Jocelyn Kendall Employee of the Year for 2009 for her outstanding contribution to the business over the last three and a half years. Source = Seashells Hospitality Grouplast_img read more

Continue Reading

Dubais obsession with size answers demand DTCM

first_imgIn Dubai, size really does matter – if only to meet strong demand growth said Dubai’s Department of Tourism and Commerce Marketing (DTCM) yesterday.Speaking to buyers before the official opening of this year’s Arabian Travel Market, DTCM deputy director Abdullah Bin Suwaidan warned that any discussion of Dubai’s future is awash with the words ‘biggest’ and ‘largest’.“But behind these words are the numbers – each year growth goes up,” Mr Bin Suwaidan said. “In Dubai, we don’t have low season; we have high season and very high season.”According to Mr Bin Suwaidan, the success of Dubai rests in its reputation as a destination with strong service, safety and infrastructure.“There’s no ‘impossible’ in this city,” he said.Mr Bin Suwaidan told buyers the success enjoyed by today’s Dubai is the result of the foresight of yesteryear.“What we’re seeing today was planned 50 to 60 years ago.”Likewise, said Mr Bin Suwaidan, Dubai’s current visions of its future will serve Dubai 50 years from now.“The challenge is making the reality out of the vision.”Despite Dubai’s 573 hotels and hotel apartments, equating to 70,955 rooms, there seemed little question from ATM buyers of Dubai’s seemingly inevitable growth, questions asked of Mr Bin Suwaidan more concerned with Dubai’s ability to cope with such demand.The 2011 Arabian Travel Market is being held in Dubai over this week.Stay tuned to e-Travel Blackboard who are on location in Dubai. Abdullah Bin Suwaidan Source = e-Travel Blackboard: G.Alast_img read more

Continue Reading

Prospering Qantas doubles yearly net profit

first_imgThe Qantas Group today announced its results for the year ending June 2011 reporting an underlying profit before tax of AU$552 million, up 46 per cent on the year prior.  The Group’s overall revenue for the year rose eight per cent to $14.9 billion.   With a spate of natural disasters, a 28 per cent increase in average fuel prices and “an underperforming international business” in mind, Qantas chief executive Alan Joyce called the results “very solid” with “earnings growth in all segments”.“Today I want to send a clear message that the Qantas Group is strong, resilient, and prospering,” Mr Joyce said.“This result reflects the strength of the Qantas Group’s portfolio and is our best performance since the global financial crisis.”Highly encouraging for the Group was Qantas’ underlying EBIT (earnings before interest and taxes), which grew a whopping 240 per cent to $228 million.   In total, the Group flew 44.5 million passengers over the year, a seven per cent increase on the year before, whilst load factor was slightly down at 80.1 per cent.  Available Seat Kilometres for the Group rose seven per cent to 133,281 million, with Revenue Passenger Kilometres growing 6 per cent to 106,759 million.The impact of natural disasters cost the airline Group $224 million. Jetstar achieved underlying EBIT of $169 million, up 29 per cent on the year before, with overall capacity growing by 19 per cent. Total passenger numbers for the low cost carrier grew by 14 per cent.Qantas Frequent Flyer, described by Mr Joyce as “the glue binding operations together”, recorded underlying EBIT of $342 million, the highest amongst the airline’s divisions.Statutory results for the Group show a loss on transaction costs relating to the Jetset Travelworld Group merger of $29 million, whilst profits on the sale of Harvey Holidays earnt the Group $4 million.Statutory Profit Before Tax grew a massive 81 per cent to $323 million. Qantas: working in an ‘extremely volatile’ operating environment Source = e-Travel Blackboard: M.Hlast_img read more

Continue Reading

TAA plans ahead with AAAT Star Ratings

first_imgTourism Accommodation Australia (TAA) officially launched today with a five year strategic plan that aims to see its members implement the new Star Rating and receive TQUAL accreditation.The official coming out party held today saw Federal Tourism Minister Martin Ferguson highlight that the Group would partner with AAAT Star Ratings to ensure their members not only meet the new ratings criteria but become a Tourism Australia accredited TQUAL product.TAA managing director Rodger Powell said the Group will not only aim to handle political persuasions on behalf of its members but also focus on improving their profiles with recognised education programs and offices in every capital city.“Our new partnership with AAAT Star Ratings will provide convenience for accommodation operators who will be able to get both their star rating and TQUAL accreditation completed by one inspector on one visit. This is all about improving supply-side quality in the Australian market,” Mr Powell explained.The Group also said they had signed an exclusive arrangement with American Hotel and Lodging Education Institute to be the provider of their extensive hospitality, education and training packages throughout the region.“Our exclusive contract with the American Hotel and Lodging Education Institute includes the internationally recognised CHA program which has 80,000 graduates in the USA and Europe and is available in 70 countries,” Mr Powell added. “This will provide Australian employees with internationally recognised qualifications that are transferrable from one job to another.”Currently TAA members include Starwood, Rydges, Marriott, Hilton, Stamford, Rendezvous, Hyatt and Radisson as well as hotels from the Accor, IHG, Constellation, Mirvac and Choice brands.The representative Group was officially launched today at the Sheraton-On-the-Park in Sydney. Source = e-Travel Blackboard: N.Jlast_img read more

Continue Reading

NT SA drive new campaign Explorers Way

first_imgThe Northern Territory Government and the South Australia Tourism Commission both invested $250,000 in the ultimate self-drive campaign called ‘The Explorers Way’.Also partnering with Britz, BIG 4, Tourism Top End and Tourism Central Australia, the campaign announced by Tourism Minister Malarndirri McCarthy hopes to tap into the 80,000 self-drive visitors to the NT each year.Promoting self-drive adventures, the Minister encouraged people to get behind the wheel and explore, saying it’s a great way to experience life in the Territory up close and personal.A main feature of the campaign is the mobile app, Mates Rates.  Available for download through the iTunes store, it is a wealth of information useful when embarking on a self-drive holiday.From accommodation, places to visit, things to do, route information and discounts to plenty of incentives for travellers, it will have you wanting to stay longer and explore further.  It also has handy driving details like service providers such as mechanics.Showcasing destinations along the Darwin to Adelaide route including Alice Springs, Katherine and Tennant Creek,  the app has a total of 170 businesses all offering Mates Rates.Running until early August 2012, the campaign is aimed at families, backpackers and grey nomads on the eastern seaboard. The Explorers Way website hopes to drive visitors to NT and SA Source = e-Travel Blackboard: K.Wlast_img read more

Continue Reading

SIA meets prevailing Adelaide demand with new flights

first_imgAs part of recently unveiled plans to add an extra ten services across its Australian network before the end of this year, Singapore Airlines has announced it will operate three additional weekly flights from Adelaide.Increasing the total number of flights out of the South Australian port to up to ten per week, the carrier’s regional South-West Pacific vice president Subhas Menon said the extra services would meet “prevailing demand” to and from the region.South Australian Tourism Minister Gail Gago added that the capacity increase was a “very positive step forward” in the state’s focus on increasing international airline seats.“South Australia has proven that extra services from carriers will be rewarded with demand for the state’s many attractions,” Mr Gago said.“The South Australian Tourism Commission, which works closely with Adelaide Airport Limited, will continue to work with Singapore Airlines in support of its services.” Source = e-Travel Blackboard: N.Jlast_img read more

Continue Reading

Bad behaviour in Bali is killing Aussies

first_imgSource = e-Travel Blackboard: K.W The popular holiday destination of Bali claims on average one Australian life every nine days and hundreds more seeking consular help while in the island paradise. For the year 2011-2012, 39 Australians died in Bali, 93 sought consular help while hospitalised, 36 Aussies were arrested and 18 were jailed and needed assistance, according to the Herald Sun. While details of the cause of deaths are retained, Australian consular officials say alcohol and drug fuelled violence in the country’s night clubs are the main cause of trouble for Australian travellers. These figures could be higher as hospital admissions and arrests are only recorded when those involved seek help and have Australian officials contacted. The Australian consulate often assists with Aussies who have overstayed their visas.  Other instances include missing person’s reports when travellers fail to report a change in plans to fellow travellers. All arrests reported were males aged 18-65.last_img read more

Continue Reading

Wotif net profits to suffer in FY2014

first_imgWotif.com’s operating costs will increase by approximately AU$9 million, driven by an intensification in marketing (+AU$4 million year-on-year) and salaries/wages (+AU$3.8 million year-on-year). Total Group revenue is anticipated to rise approximately 4.5 percent during first half FY2014. Source = ETB News: P.T. “The increase in our marketing and information technology costs in the first half is to support the strategic initiatives, invest in new market segments and respond to rapidly changing market conditions.” Wotif.com Holdings has released a market update, estimating net profit after tax for FY2014 to be in the range of AU$21.9 million to AU$22.6 million, compared to AU$27.5 million in the prior half-year. The boost to marketing has been attributed to a competitive online advertising marketplace, while salary increases translate to a rise in the development of Information Technology staff. The Wotif Group has forecast a reduction in net profits of approximately AU$5 million for the first half of FY2014, while the outlook for the second half of the year remains volatile. “We need to continue to work hard to sustain and grow our core ANZ accommodation business as we build out new business initiatives,” Wotif Group managing director and chief executive Scott Blume said. Total Transaction Value (TTV) for the first half of the financial year is expected to be relatively flat, however, this will likely be offset by strong growth in flights and gains from dynamic packaging.last_img read more

Continue Reading

Malaysia Airlines flight could be near Australia

first_imgProfessor Des Ball, a professor of strategic studies at Australia’s National University, said that the plane would have been picked up on Australia’s Jindalee radar system if it had been flying somewhere nearby, the Sydney Morning Herald reported. An Australian flight surveillance expert believes that the missing Malaysia Airlines flew somewhere near Australia and would have been picked up on Australian radar if it did. Investigators have also identified two possible other flight paths for the plane including one over Indonesia, Thailand and Western Australia and the other over Iran, passing through Afghanistan and Pakistan. “It’s hard to believe it could go over northern Thailand undetected, they have extensive radar,” Professor Ball said. Australia has deployed two Orion surveillance aircraft to monitor the flight corridors, including one off the Cocos Islands and one operating west of Malaysia. Prime Minister Tony Abbott has asked Malaysia whether they require further assistance for the search.  Source = ETB News: E.Hlast_img read more

Continue Reading

Wendy Wu Tours releases THENEWWU to agents

first_imgWendy Wu Tours releases #THENEWWU to agentsWendy Wu Tours releases #THENEWWU to agentsLeading Asia expert Wendy Wu Tours has launched its 2017 program with brochures being distributed across Australia. This also marks the launch of its new trade concept ‘Booking Asia Made Easy’ with the return of the much-loved animated Wendy character.The concept has been developed to reinforce the ease of booking with the operator. General Manager Andrew Mulholland said ‘we understand how busy the day gets, knowing that a booking can be secured within moments and everything taken care of from flights to visas, not only does it help take the complexity out of booking arrangements, but also demonstrates the value our holidays provide customers and trade partners alike.Our product services complex destinations, destinations that offer once in a lifetime experiences. Due to the infrastructure we have on the ground, the quality is guaranteed, this is incredibly important on the ‘road less travelled’ which we consider our specialty’.The inspiration behind the new cartoon design, ‘Kung Fu Wendy’ has been modelled on founder Wendy Wu. ‘Those who have met Wendy know how enthusiastic she is about Asia, offering travel experiences to the Australian traveller and supporting our agent partners. We think the Kung Fu concept is rather fitting’, says Mulholland.The introduction of touring categories in the 2016 program has proved highly successful and has prompted the operator to create seven new Discovery tours and four new Deluxe tours across the product range.A selection of these new tours, such as the 18-day ‘China & Spiritual Tibet’ deluxe tour or the Indian ‘Trans Himalayan’ discovery tour are included the ‘2017 Free Stopover’ campaign, which allows agents to offer clients a free two-night stopover in Singapore. Other free stopover destinations on offer include Hong Kong and Siem Reap when booked in conjunction with an extensive range of tours over 14 days.All brochures are currently being delivered to agencies by TIFS.For details on the offer or new brochures call Wendy Wu Tours on 1300 815 749, visit wendywutours.com.au/free-2-night-stopover or contact your local BDE. Wendy Wu Toursbook here Source = Wendy Wu Tourslast_img read more

Continue Reading

Munich Airport reports record net annual profit of €155 million

first_imgAnnual Press Conference 2018 Photographer: Stephan Görlich Copyright: Munich AirportMunich Airport reports record net annual profit of €155 millionWith consolidated earnings after taxes at around €155 million, Munich Airport achieved the best result in its history in 2017. The Group again achieved a year-on-year increase of €100 million in annual revenues to around €1.5 billion – hanks in large part to a substantial 5.5 percent rise in total passengers to 44.6 million. The airport’s strong economic performance also paid off for the neighboring communities, which will again take in business tax revenues of €35 million.In view of the record figures, Dr. Michael Kerkloh, the President and CEO of Munich Airport, is confident that the company is well prepared for the challenges that lie ahead: “This ensures that Munich Airport will be able to make the necessary investments to handle its future tasks with its own financial resources.” Kerkloh’s outlook at today’s annual press conference in Munich: “All the signs point to a continuation of our very satisfactory performance, so that we fully expect to report earnings at around the same level for 2018.”A look at the current traffic trends in the recently launched summer timetable period confirms this assessment. With five Lufthansa Airbus A 380 aircraft now stationed in Munich, the Bavarian hub has become just the fourth European airport – after London, Paris and Frankfurt – to serve as a home base for the world’s largest passenger aircraft. Lufthansa will operate daily services to Los Angeles, Hong Kong and Beijing with the superjumbo. In addition, the German carrier has added four plans from the Airbus A320 to its Munich fleet for medium-haul flights. This has further improved the connectivity of the Munich hub.Another important component enhancing Munich Airport’s hub status is the upgrade of the Lufthansa fleet with modern Airbus A350 long-haul jets. The airline has already eight of a total of 15 of these widebody jets in service. The Munich Airport 2108 summer timetable includes a more extensive range of intercontinental flights and destinations than ever before. CEO Kerkloh called this “a further step in solidifying Munich Airport’s hub function.” He added: “The new long-haul services have greatly strengthened our airport’s global network. Munich is becoming more and more attractive as a springboard for travel to other continents.”The Lufthansa subsidiary Eurowings is also helping to maintain the momentum of this trend: From the beginning of next week, Eurowings will be launching new long-haul services to and from Munich. The airline will offer scheduled services from Munich to 15 intercontinental destinations – including such holiday hotspots as Cancun, Fort Myers, Mauritius, Montego Bay and Las Vegas. As a result, travellers will have the option of flying with low-cost airlines on long-haul routes for the first time. Thanks to Eurowings, the share of low-cost carriers in total traffic in Munich is expected to increase to around 11 percent in 2018.Source = Munich Airportlast_img read more

Continue Reading

Club Med Welcomes 2019

first_imgSource = Club Med Club Med Welcomes 2019Club Med Welcomes 2019 with New Brochure, Resorts, and Travel Agent Loyalty ProgramThe premium all-inclusive resort brand, Club Med, has kicked-off another year with the release of a new and improved brochure, exciting resort news, and a teaser of what’s to come for the Great Agent Loyalty Program (GALP) in 2019.This news for travel agents comes in time for Club Med’s biggest offer all year – the infamous early bird rates allowing agents to save their clients up to 30% off the premium all-inclusive packages. Sales for travel 1 November 2019 – 31 April 2020 open on 30 January 2019, and agents are encouraged to pre-register their client’s 2020 holiday requests now, beating the queue on sales opening day and securing their clients the limited-time early bird rates.Pre-register now HERENEW BROCHURE:Following a complete overhaul in 2018 after the results of a Club Med agent survey highlighted beneficial areas for improvement, the 2019 Club Med brochure promises to be better than ever! Equal parts user-friendly for clients and informative for agents, the new brochure features:* Colour-coded tabs for quicker referencing* Increased information on the Exclusive Collection resorts and 5 Trident spaces* NEW resort imagery for easier sellingNEW resorts:Club Med Miches Playa Esmeralda, Dominican Republic – opening December 2019Club Med Les Arcs Panorama, France- opened December 2018Newly renovated & re-opened Club Med La Pointe aux Canonniers, Mauritius* Updated maps & grids for quick reference and resort comparison for travel agents* Even more ski resorts featured than ever before* Kids Club schedule examples* Meetings, events, celebrations and weddings made even easierView and download the brochure online HEREOrder print brochures CLICK HEREFor further travel agents sales tools and resources, visit the dedicated trade portal: www.clubmedta.com.auGreat Agent Loyalty ProgramThe Great Agents Loyalty Program (GALP) gives travel agents the opportunity to earn up to 13% commission on every Club Med holiday booking plus a host of additional benefits – set to increase in 2019! The revamped program, travel agent status and full list of benefits will be available on the trade portal in March, 2019.About Club MedClub Med provides amazing holiday experiences, made easy, in the world’s most beautiful destinations. With over 70 premium and luxury all-inclusive sun and snow resorts located in some of the most beautiful places on earth, Club Med resorts blend seamlessly with their environment, drawing inspiration from the local culture and nature to immerse guests in the destination.Since 1950, Club Med has been dedicated to providing guests with amazing new experiences that make for an unforgettable holiday – from the rejuvenating to the exhilarating, and everything in-between. Each resort offers a vast selection of opportunities to try something new, immerse in local culture, revive body and mind, and give back to the local community and environment.Club Med holidays are a truly hassle-free experience, with premium all-inclusive packages and a wide range of innovative services – giving guests more time to spend doing what they love.For more information, visit www.clubmedta.com.au / www.clubmedta.co.nz, www.clubmed.com.au or follow Club Med at: * Instagram @clubmed * Facebook /ClubMedAustralia * Twitter @ClubMed_Au * Travel agent Facebook /ClubMedforTravelAgentslast_img read more

Continue Reading

Korea ranked among top two in UIAs Global Meetings Ranking

first_imgKorea has been ranked among the world’s top two destinations for global congresses held in 2015, according to the latest International Meetings Statistics Report, released this week by the Union of International Associations (UIA).Korea has recorded a 40% increase in meetings in 2015 compared to last year. This also places it first in Asia and accounts for 7.5% of all meetings held worldwide across the same period.The Korean capital Seoul has also moved from the fifth to the third place with 494 meetings held in 2015; a 98.4% increase over the 249 meetings hosted in 2014. Meanwhile, Busan, Korea’s second-largest city attained a global city ranking of 11 with 150 meetings, while renowned UNESCO World Heritage Resort Island Jeju accounted for 112 of the year’s meetings, achieving a global city ranking of 19.Korea’s MICE competitiveness has been boosted by nationwide growth in infrastructure, including expanded facilities in future Pyeongchang 2018 Winter Olympics host Gangwon Province, and ongoing expansions to recent Korea MICE Expo host Songdo Convensia in Incheon’s International Business District. Brand-new regional convention facilities include the new Asia Culture Centre in south-eastern city Gwangju and Hwabaek International Convention Centre (HICO) in the south-western UNESCO capital of Gyeongju.Byungsun Lee, Director Korea Tourism Organisation, said, “We will of course continue to work actively to make Korea a highly-competitive MICE destination. South Korea is a country with a wealth of destinations all featuring their own unique attractions and venues for the MICE visitors. With our strength in infrastructure, we are positive to list our position amongst the top and most preferred MICE destinations of India as well.”last_img read more

Continue Reading

Ministry of Tourism and Dalmia Bharat sign MoU to adopt a heritage

first_imgDalmia Bharat signed a Memorandum of Understanding (MoU) with Ministry of Tourism, Government of India, for the adoption of Red Fort monument under the ‘Adopt a Heritage’ project. With an estimate of over INR 5 crores per year, Dalmia Bharat joined ‘Monument Mitras’ from other various private sector companies to look after the operations and the maintenance of this heritage site for the next five years.The MoU was signed in the presence of Chief Guest K J Alphons, Minister of State for Tourism (Independent Charge) and other senior officials of Ministry of Tourism, Ministry of Culture and Archaeological Survey of India (ASI).Puneet Dalmia, Managing Director, Dalmia Bharat Group said, “We are very honoured to have adopted one of India’s top heritage sites. At Dalmia Bharat, we take pride in Indian culture and practise it in the workplace. Adopting a heritage project is a unique endeavour by Ministry of Tourism which envisions in developing monuments, heritage and tourist sites across India to enhance their tourism potential and cultural importance. We look forward to adding value to India’s heritage sites in every possible manner.”Sundeep Kumar, Executive Director, Dalmia Bharat Group said, “With our dedicated efforts we will endeavour to make Red Fort a world-class monument in terms of amenities and experience. Such initiatives will enhance the tourist experience, resulting in more footfalls from both domestic and foreign tourists. With our efforts, we will make Indian heritage sites a symbol of pride for all of us.”The first of its kind adoption enables Dalmia Bharat to construct, landscape, illuminate and maintain activities related to provision and development of tourist amenities. This includes various basic and advanced amenities such as public conveniences, clean drinking water,   cleanliness of the monument, accessibility for all, signage, cloakroom facilities, illumination and night viewing, surveillance system, tourist facilitation cum interpretation centre among others.In addition to this, Dalmia Bharat will also introduce other key amenities for the visitors like App based multilingual Audio-Guide, Digital Interactive Kiosk, Digital (LED) screening, free Wi-Fi and cafeteria along with souvenir shop which will help in promoting local art and craftsmanship. There will be the construction of ramps and differently-abled friendly toilets. Facilities like wheelchair availability, battery-operated vehicles, and braille signages are some of the key additions which will make Red Fort a barrier-free monument. Use of advanced surveillance system like PTZ based CCTV cameras will also be installed as permissible guidelines as per ASI. Dalmia Bharat will also assist in controlling the advanced tourist flow management system linked with carrying capacity of the monuments including light and sound shows with regular cultural shows and facilitation of night visits to the monuments.The ‘Adopt a Heritage Scheme’ (Apni Dharohar Apni Pehchan Project) was launched by President of India on World Tourism Day (September 27, 2017). According to it Private and Public-Sector companies and corporate individuals are invited to adopt heritage sites and to take up responsibility for making them and promote sustainable tourism through conservation and development under their Corporate Social Responsibility (CSR) activities.last_img read more

Continue Reading

ReverseVision Forges New Partnership with ULC

first_img Share ReverseVision Forges New Partnership with ULC December 10, 2013 459 Views Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Reverse Mortgage Service Providers 2013-12-10 Tory Barringercenter_img in Technology Reverse mortgage software provider “”ReverseVision””:http://reversevision.com/ has a new client: “”Universal Lending Corporation””:http://www.ulc.com/ (ULC), a Denver-based lender with more than three decades of experience in the business.[IMAGE][COLUMN_BREAK]Using ReverseVision’s tools, ULC says it will continue to educate borrowers on reverse mortgages to ensure they’re able to make well-informed decisions about the product–benefiting borrowers and enhancing its own business in the process.””Universal Lending has always focused on responsible lending practices as we understand the impact we have on our community with every loan we make, and we take that responsibility very seriously,”” said Paulette Wisch, VP and branch manager for ULC. “”ReverseVision’s platform is an essential tool that makes explaining reverse mortgage loans to the borrower simple and easy to understand which is also very important to us.””””We look forward to working with Universal Lending and empowering their team with tools that make working with borrowers, and originating and funding reverse mortgage loans easy,”” said John Button, CEO of San Diego-based ReverseVision. “”With over 10,000 people in the U.S. turning 62 every day, their opportunity to expand their business in Denver, and the rest of the country, is sure to see exponential growth in the New Year.last_img read more

Continue Reading

Credit Unions Share Regulatory Anxiety with Federal Reserve Leaders

first_img in Daily Dose, Featured, Government, News Share Increased regulatory burdens and growing loan demand are just two of the issues representatives from the National Association of Federal Credit Unions (NAFCU) raised when meeting with the Federal Reserve Board of Directors this week.NAFCU, which represents federal credit unions, shared some of the pain points credit unions continue to deal with, while noting that consumer demand at credit unions is up year-over-year.For the 23rd year in a row, NAFCU leaders met with Fed Directors to share emerging issues in their space.The laundry list of developments includes the fact that NAFCU is advocating to preserve the tax exemption status enjoyed by credit unions, while also dealing with ongoing pressures from complying with data security demands, the Dodd-Frank Act and the Consumer Financial Protection Bureau’s rules—most notably, the new Truth in Lending Act and Real Estate Settlement Procedures Act integrated mortgage disclosure rule (TRID).Staffing and compliance costs related to TRID are draining the credit unions coffers, representatives noted in their report to the Fed.Credit unions warned that their margins continue to shrink on declining fee incomes even though member growth is at its highest level in two decades.NAFCU also reiterated a need for Congress to enact reforms to deal with national data security standards for retailers to protect the financial information for consumers.The good news from NAFCU is member growth remains in positive territory. The bad news is NAFCU is having to spend more to deal with new compliance and regulatory expectations.“Our 2015 NAFCU Report on Credit Unions shows that even though credit unions face many legislative and regulatory challenges, they play a critical role in serving their more than 101 million members and the nation’s economy, and are well-positioned for future success,” said NAFCU President and CEO Dan Berger. “This is the 23rd year that NAFCU met with the Federal Reserve, and we looked forward to discussing issues that are significant to credit unions and the financial services industry right now.” December 7, 2015 539 Views center_img Credit Unions Federal Reserve National Association of Federal Credit Unions Regulatory Anxiety 2015-12-07 Staff Writer Credit Unions Share Regulatory Anxiety with Federal Reserve Leaderslast_img read more

Continue Reading

The Week Ahead Focus on Housing Starts

first_img in Daily Dose, Featured, News Building Permits Census Bureau homes HOUSING Housing Starts HUD mortgage 2018-05-13 Radhika Ojha May 13, 2018 552 Views In a market that’s facing a shortage of housing inventory, the monthly housing starts data, which will be released by the Census Bureau and the U.S. Department of Housing and Urban Development (HUD) on Wednesday, May 16, at 8:30 a.m. EST, becomes all the more important to gauge housing trends and availability of homes for sale. The report provides national and regional data on the number of new housing units authorized by building permits; authorized but not started, started but not under construction, under construction, and completed homes. In March, the previous report indicated, housing starts were up 1.9 percent over the previous month and were 10.9 percent above the same period in 2017. However, for single-family homes, starts were down 3.7 percent from February at 867,000. The data which also looks at housing completions showed that single-family homes were 4.7 percent below the prior month at 840,000 and were 5.1 percent below February overall at around 1.2 million completions.Here’s what else is in store for The Week Ahead:Redbook Release, Tuesday, 8.55 a.m. ESTHousing Market Index, Tuesday, 10 a.m. ESTMBA Mortgage Apps, Wednesday 7 a.m. ESTPhiladelphia Fed Business Outlook Survey, Thursday, 8:30 a.m. ESTFed Balance Sheet, Thursday, 4:30 p.m. ESTcenter_img The Week Ahead: Focus on Housing Starts Sharelast_img read more

Continue Reading

New Program Aims to Protect Customer During Mortgage Process

first_imgNew Program Aims to Protect Customer During Mortgage Process in Featured, News Guild Mortgage, an independent mortgage lender located in California, announced Homebuyer Protection, a program designed to give customers added protection and peace of mind during the mortgage process.Homebuyer Protection combines three of Guild’s loan programs and services, allowing homebuyers to protect their rate, earnest money and closing date. The program began for purchase loan applications on April 15. With Lock and Shop, the customer can lock in their interest rate for 90 days while shopping for a home. Once they have found a home, they will have the option to float-down their rate, at no cost, if rates decrease. Credit Approval Protection gives buyers, agents and sellers added confidence in Guild’s pre-approval process. If the company issues a preliminary credit approval from underwriting, but is unable to close the homebuyer’s transaction, Guild will pay up to $1,000 for inspections, appraisals or relocation expenses incurred for the home purchase. The company will also reimburse up to $5,000 in earnest money deposits if Guild is unable to close the loan. Finally, under Homebuyer Express with 17 Day Closing Guarantee, Guild will pay qualifying customers $500 toward closing costs if delays solely by the company to prevent the loan from closing on time, in 17 days or more.“When shopping for a home, customers want to know that they’re working with partners they can trust throughout the process,” said Mary Ann McGarry, President and CEO of Guild Mortgage. “Homebuyer Protection gives customers the flexibility to shop with confidence knowing their rate is protected. Once it’s time to purchase the home, buyers can trust Guild to close their loan on time. If we can’t, we’ll cover some of their costs. This extra protection will help more people find the home they want and the right loan to help them get there.”The Homebuyer Protection program is available on FHA, VA and conventional loans. To qualify for the Homebuyer Express 17 Day Closing Guarantee, the customer must be credit approved prior to executing the purchase and sales agreement, and the purchase and sales contract must be provided within 72 hours of execution. All additional requested documentation must be provided within two business days and the interest rate must be locked at least 15 calendar days prior to closing.“We know there are a lot of options when it comes to getting a mortgage,” said Gemma Currier, Senior Vice President of National Retail Sales Operations of Guild Mortgage. “Homebuyer Protection was created so our loan officers can continue to provide the exceptional service and personal relationships that have defined Guild for nearly 60 years, while offering a protection program that homebuyers can’t find anywhere else.”   FHA Mortage Rates Mortgage Lender VA Loans 2019-04-30 Mike Albanesecenter_img April 30, 2019 426 Views Sharelast_img read more

Continue Reading

Cash Isnt King for Homebuyers

first_img 4 days ago 164 Views The acceleration of the decline of cash buyers continued in June, as a new report in USA Today reveals that just 16% of home buyers paid in cash. The report, which sources information from the National Association of Realtors (NAR), states that the shifts can be traced to less competitive and buyers-friendly markets, and falling mortgage rates.The NAR states that existing home sales fell 4.2% in the first half of the year compared to 2018. Prospective homebuyers paying in cash has seen a steady decline over the past few years. USA Today reports that the volume of cash sales peaked at 35% in February 2014. That number dipped dramatically just a few months after, falling to 23% in August. According to the data, 22% of buyers in June 2018 paid with cash. The lack of bidding wars has also caused the decline of ding to cash offers, as many were “cashing in their savings,” according to Jessica Reinhardt, a broker at RE/MAX Alliance in Denver. She added sellers prefer cash offers because they mean quicker purchases.Additionally, the report says that parents gave cash gifts to help their children buy homes, with some real estate brokers putting up cash for their clients, said Jessie Culbert, a Redfin agent in Seattle. “You needed cash to stand out,” Culbert said.Competition has waned nationwide, as 12% of purchased handled by Redfin faced competition—a drop from 51.7% last year.The NAR states that 57% of investors who buy homes to make repairs or sell for a profit pay in cash. However, the volume of home purchases made by investors has declined from 11.3% in 2018 to 11.1% in 2019, according to figures by CoreLogic.Also, many prospective homebuyers are less eager to buy homes in fears that prices have peaked. Home prices have increased 55.2% nationally from their 20123 low, and are 12.6% above the pre-housing crash peak, according to the S&P CoreLogic Case-Shiller Home Price Index.  Cash Isn’t King for Homebuyers in Daily Dose, Featured, News, Originationcenter_img 2019 Housing Market cash offers Money 2019-07-29 Mike Albanese Sharelast_img read more

Continue Reading

International vehicle specialists globalCARS has r

first_imgInternational vehicle specialists globalCARS has responded to increased consumer interest in worldwide motorhomes and now features over 40 suppliers in 19 countries, bookable online.The increased range provides a choice of traditional two, four and six berth in Australia, New Zealand, Europe and the USA – with up to eight-berth slide out motorhomes available in North America.Rates start from $20 a day for rental periods of from seven days overseas and three days in Australia.Vehicles are covered by comprehensive insurance and are provided on an unlimited kilometres basis. They include shower and toilet, hot water, fridge, cooking equipment, storage, heating and air-conditioning, and all cutlery and crockery. GlobalCarsmotorhomeslast_img

Continue Reading