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National Insurance Corporation Limited (NIC.ug) 2016 Abridged Report

first_imgNational Insurance Corporation Limited (NIC.ug) listed on the Uganda Securities Exchange under the Insurance sector has released it’s 2016 abridged results.For more information about National Insurance Corporation Limited (NIC.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the National Insurance Corporation Limited (NIC.ug) company page on AfricanFinancials.Document: National Insurance Corporation Limited (NIC.ug)  2016 abridged results.Company ProfileNational Insurance Corporation Limited (now NIC Holdings Limited) is a leading insurance company in Uganda. It was established in 1964 as a wholly-owned government parastatal; and privatised in 2005 with Industrial and General Insurance Plc (IGI) purchasing a 60% stake in the insurance business through its special purpose vehicle, Corporate Holdings Limited. IGI is the largest private sector insurer and fastest growing insurance company in Nigeria, with operations in Ghana, Gambia, Uganda, Rwanda, Europe and America. The company established two wholly-owned subsidiaries; NIC General Insurance Company Limited (NIC General) which took over the general insurance business; and NIC Life Assurance Company Limited (NIC Assurance) which took over individual and group life assurance. National Insurance Corporation Limited is listed on the Uganda Securities Exchangelast_img read more

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Scoa Nigeria Plc (SCOA.ng) Q12018 Interim Report

first_imgScoa Nigeria Plc (SCOA.ng) listed on the Nigerian Stock Exchange under the Engineering sector has released it’s 2018 interim results for the first quarter.For more information about Scoa Nigeria Plc (SCOA.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Scoa Nigeria Plc (SCOA.ng) company page on AfricanFinancials.Document: Scoa Nigeria Plc (SCOA.ng)  2018 interim results for the first quarter.Company ProfileScoa Nigeria Plc is a conglomerate company in Nigeria specialising in turnkey projects in the technology, infrastructure, farming, water engineering, food technologies and telecommunication sectors. Projects include the supply, construction, installation and maintenance of power generation and air-conditioning systems, home/office systems, security systems, electrical systems and fire prevention/industrial safety systems. Scoa Nigeria Plc distributes and services a range of passenger vehicles, trucks, buses and trailers and provides services for fleet management, trade-ins, vehicle leasing, providing drivers and service and repairs. Turnkey projects in the hospital and healthcare sector includes supplying and servicing hospital equipment and providing medical training services in the area of magnetic resonance, computed topography, cardiovascular, x-rays, radiography, ultrasound, nuclear medicine, radiation therapy and cardiac resuscitation. Scoa Nigeria Plc manages centres for physiotherapy and dentistry and a laboratory to diagnose and treat terminal illnesses and heart and neurological diseases. Scoa Nigeria Plc is a subsidiary of Fadoul Group. Its head office is in Lagos, Nigeria. Scoa Nigeria Plc is listed on the Nigerian Stock Exchangelast_img read more

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Cineworld’s share price is still rising! Here’s what I’m doing now

first_img See all posts by Royston Wild Enter Your Email Address Get the full details on this £5 stock now – while your report is free. Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. The Cineworld Group (LSE: CINE) share price has recovered strongly after hitting multi-month lows in early May. The UK leisure chain moved closer to the £1 per share market following an excited reaction to latest financials earlier this week. The current market buzz means that Cineworld could be propelled above penny stock status in the very near future.Cineworld’s share price is soaring on news that moviegoers are flocking back to its theatres as coronavirus lockdowns are eased. It goes some way to assuage fears that ticket sales would struggle as the pandemic rolls on and people stay glued to streaming services like Amazon Prime and Netflix instead. But is now the time to buy in?5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Cineworld’s share price rises again!In case you missed it, Cineworld said earlier this week that it had enjoyed “a strong opening weekend in the UK” as it reopened its theatres in line with government guidance. In fact it said that its weekend performance “went beyond our expectations as customers were eager to return to the movies and enjoy the full movie experience”. Indeed, Cineworld said that it experienced strong concession sales too.The roaring success of Peter Rabbit 2: The Runaway helped to drive strong takings last weekend. And chief executive Mooky Greidinger commented that “with the releases next week of Cruella, and A Quiet Place 2, we expect next weekend’s results to be strong”.Greidinger added that “when combined with improving consumer confidence and the success of the vaccination rollout, we expect a good recovery in attendance over the coming months”.Outside of the UK, Cineworld said that 97% of the 500-plus cinemas in its core US territory were now open. It added that most of its cinemas in Poland and Israel should be re-opened by the month’s end.Is now the time to buy?The Cineworld share price may be on the march again. But I’m afraid I’m still not tempted to buy back into this FTSE 250 share. I sold my holdings in the UK leisure share late last year on fears over its huge debt pile. My concerns surrounding this issue haven’t abated, either. At the same time, the long-term threat posed by streaming companies has increased as studios have changed their movie release models to cater more effectively to audiences at home.Going to the cinema has long been one of the most popular leisure activities for around a century. And it’s possible that Cineworld might enjoy a strong and sustained recovery following Covid-19 lockdowns, and deliver terrific shareholder returns in the process. Let’s not forget that the global box office sat at fresh all-time highs before the public health emergency, in 2019.That said, I still think the Cineworld share price carries too much risk right now. Any fresh surge in Covid-19 cases could cause its cinemas to shut en masse once more. It already faces a long road ahead to get its debt mountain off the books. Fresh lockdowns could prove fatal. I’d much rather buy other UK shares for the moment. Simply click below to discover how you can take advantage of this. FREE REPORT: Why this £5 stock could be set to surge Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.center_img Image source: DCM I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Cineworld’s share price is still rising! Here’s what I’m doing now John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Amazon and Netflix and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Royston Wild | Wednesday, 26th May, 2021 | More on: CINE Our 6 ‘Best Buys Now’ Shareslast_img read more

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White Skube House / Srijit Srinivas – ARCHITECTS

first_imgShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/957033/white-skube-house-srijit-srinivas-architects Clipboard Projects CopyHouses•Thiruvananthapuram, India Design Team:Remya Raveendran, Sriya, DeepikaClients:Mrs. Saseendrakumari I., Mr. Jayakumaran Thampy , Dr. Sreejith Thampy, Dr. Anjali P.K, Dr. Parvathy ThampyArtwork:VijibhagavathiText:J. GeorgeCity:ThiruvananthapuramCountry:IndiaMore SpecsLess SpecsSave this picture!© Justin Sebastian PhotographyRecommended ProductsMetallicsTECU®Copper Surface – Classic CoatedMetallicsSculptformClick-on Battens in Ivanhoe ApartmentsWoodAccoyaAccoya® Cladding, Siding & FacadesWindowspanoramah!®ah!38 – FlexibilityText description provided by the architects. The design brief from clients Mrs. Saseenkumari & Mr. Jayakumaran Thampy for their second home on a five cents ( or 202 square meter) property in a densely settled part of Trivandrum city, was a pithy requirement for ‘something special’.  The building was intended to house their joint family consisting of their son and his wife, as well their daughter – all of whom are medical doctors.Save this picture!© Justin Sebastian PhotographyThe skewed shape of the restricted plot footprint organically allowed for a skewed cuboid (or ‘SKUBE’) form to emerge. This was presciently painted in white to augment the sereneness of the morphed platonic form – highlighted as it were by the pandemonium of its busy surrounding neighborhood. The functional requirements for the tight site were particularly challenging and consisted of a car porch to house two vehicles, living and dining spaces, kitchen and attached work area, four bedrooms with en-suite bathrooms, as well as a family rumpus room in the upper floor. Save this picture!© Justin Sebastian PhotographySave this picture!PlansA bare minimalist approach to design has been adopted to great effect throughout. The main entrance is from an external verandah via an entry niche into the living room, which then faces a mini landscaped ‘court’ in front. The adjoining dining room opens out to a similar feature in the rear allowing for cross ventilation. This rear court is capped by an open skylight treatment, allowing sunlight to drape the internal walls and to visually denote a vertical link. Horizontally also, this space wraps around to the open kitchen plan to form one harmoniously flowing, continuous space.Save this picture!© Justin Sebastian PhotographyAdding to this schema is the use of the latticed front façade wall with its neat ‘brick bond’ pattern punctures, which accentuates the visual effect of the pristine white external paint finish, whilst also allowing light and breeze ingress pathways into the building without compromising on the need for privacy.Save this picture!© Justin Sebastian PhotographyIn contrast to this, the terracotta louvers screening the balconies to two bedrooms on the first floor, add a splash of warmth and visual interest to the external façade. The ambitious functional brief for the house left no space for deploying any double height treatments, but this was more than compensated for by judicious spatial planning and the discerned use of proportions. The ground floor bedroom too similarly opens out to a courtyard. The first floor has a total of three bedrooms, in addition to a small open-to-sky terrace space. The ceiling – with its exposed concrete finish, along with the floors both follow a similar calming grey-based colour palette, whilst the walls are painted white for contrast.Save this picture!© Justin Sebastian PhotographyInternally, the staircase and its pared back, almost visceral ‘poured concrete’ design, is cocooned by wall-like screen panel handrail design, ensuring visual privacy for the stairs. The stairwell also has an ethereal ambience to it on account of the various embedded openings allowing for easy penetration and flow of light, air, and sounds. This unpretentious house elegantly sits amidst all the visual noise of its surroundings, and is a quiet cynosure of the curious eyes of passersby.Save this picture!© Justin Sebastian PhotographyProject gallerySee allShow lessShelter Brewery / Paul Burnham ArchitectSelected ProjectsWE3 at Water’s Edge / SPF: architectsSelected Projects Share “COPY” Photographs ArchDaily Architects: Srijit Srinivas – ARCHITECTS Area Area of this architecture project Area:  232 m² Year Completion year of this architecture project White Skube House / Srijit Srinivas – ARCHITECTS White Skube House / Srijit Srinivas – ARCHITECTSSave this projectSaveWhite Skube House / Srijit Srinivas – ARCHITECTS Year:  ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/957033/white-skube-house-srijit-srinivas-architects Clipboard Save this picture!© Justin Sebastian Photography+ 19Curated by Hana Abdel Share Srijit Srinivas Photographs:  Justin Sebastian Photography Manufacturers Brands with products used in this architecture project Lead Architect: 2020 India Manufacturers: Kohler, Decowood, Trojan, Tulip & Hybec “COPY” Houses CopyAbout this officeSrijit Srinivas – ARCHITECTSOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesThiruvananthapuramOn FacebookIndiaPublished on February 17, 2021Cite: “White Skube House / Srijit Srinivas – ARCHITECTS” 16 Feb 2021. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodGRP Siding Façade SystemGlassMitrexSolar GreenhouseMetal PanelsAurubisMill Finished Copper: Nordic StandardMetallicsHAVER & BOECKERArchitectural Wire Mesh – MULTI-BARRETTE 8130Enclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsSealantsEffisusGutter Repair – TiteGutter3Aluminium CompositesSculptformAluminium Click-on BattensTiles / Mosaic / GresiteMargresPorcelain Tiles – Linea PrestigeMetallicsRHEINZINKZinc Roof Systems – Click Roll CapsTiles / Mosaic / GresiteTerrealTerracotta Cladding TileDoorsECLISSESliding Pocket Door – ECLISSE UnilateralWindowsJoskoWindows and Sliding Doors – ONE SeriesMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

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Seed Consultants 4/23/2013 Market Closing Comments with Gary Wilhelmi

first_img Previous articlePurdue Specialist Weighs in on Texas Explosion IssuesNext articleCorn Grower Supported Case Against EPA Dsimissed Hoosier Ag Today Facebook Twitter SHARE SHARE By Hoosier Ag Today – Apr 23, 2013 Home Indiana Agriculture News Seed Consultants 4/23/2013 Market Closing Comments with Gary Wilhelmi FinancialThe false tweet that hit the AP twitter account has led to the proper suspension of that account. The hackers if caught should be strung up for cyber terrorism. The whole vent took less then two minutes. These computers are programmed to react to news headlines and it this case it was a widely distributed AP news tweet. The Dow dropped about 240 and points, and then upon clarification immediately retraced the decline.The markets closed 152 higher on the Dow, 16 S&P and the NASDAQ up 36, prior to the release of Apple’s earnings. Reports from DuPont, Travelers and Netflix had been positive.WTI crude ended up $.17 at $89.36Gold $1413 $5 higherThe dollar index up 34 at 83.04The DAX closing at 10:30 CDT was up 2.4% and that was prior to the hack attackOur cyber vulnerability is deplorable.The Ag markets were not affected.LivestockCattle and hogs finished up just slightly despite bearish indications coming out of the cold storage reportsMeat demand remains laxMaybe business will pick up when cook out season begins, but that depends on how much money is in peoples walletsGrain and soybeansLooking ahead to better planting weather sums up the declines in the corn and soybean marketsWheat remains the captive of ample global supplies, which were reaffirmed by the Ukraine’s plan to lift its export banChina bought 392,000 tons of soybeans for 13/14Brazilian prices are such that imports into our southeast may be possible, as this happens from time to timeWarming temperatures are also coming to the HRW areaFlooding has stalled movement on our riversDec corn and Nov beans both traded, and closed below their support levels1:26 updateHyper sensitive computer crazies drop and then rally the Dow over 200 points.There are always skeletons in the financial closet that can jump out at any timeIt is the nature of trade these daysAg market impact minimal10:37 updateLight boxed beef volume but good in pork at 330 loadsJune cattle and hogs both up about $ .80 despite lackluster Cold Storage demand392,000 tons of 13/14 beans to ChinaUkraine lifts wheat export banGulf beans and corn steadyFavorable planting s forecast weigh on corn and beans in new cropDec corn breaks $5.25 support with not much below all the way down to $4.40July wheat tests $6.90Nov beans have been below $1210:14 updateDow up 113Apple $402 up 372% of earnings have exceeded estimates, but profits are down 1.1%Cold storage confirms lackluster demand in red meatsMildly mixed grains and soybeansMarket Opening CommentFinancialUS stocks flat pre open, but Dow opens up 88, S&P 8 and NASDAQ 22DAX up 2 % and FTSE 1.7 %European stocks rise on Spanish auction and Italian yieldsChinese PMI falls to 50.5 from 51.6, Germany 47.9 from 49 and France 44.4 from 44US PMI falls to 52February hone prices up .7%DuPont earnings top estimateApple out this afternoon so watch NASDAQWTI crude $88.48 off $ .78Gold $1418 down $3Dollar up 33 to 83.01LivestockCarry over cash cattle sales helped off set negative COF reportCash offers at $128Boxed beef up $ .68 on choice and $.04 selectSlaughter expected to rise to cover demand as cook outs beginSmall feeder cattle auctionMonday’s kills unchanged from a week agoPork cutout up $1.54Grain and soybeansJuly corn off 4 cents, July beans down 2 and July wheat 8 lowerPlantings progress tie s low of 4% in 1993Winter wheat 35% g-x versus 36%Warming coming to HRW area1-5 day forecast features more rains in Midwest and then a warm and dry periodEven with the flooding rains a large part of the Western area remains droughtyFund liquidation yesterdayBrazilian farmers are trucking some soybean 1000 miles to southern ports because of delays at two major northern portsFlooding now stalls movement on the MississippiLight farm selling effects bull spreads Facebook Twitter Seed Consultants 4/23/2013 Market Closing Comments with Gary Wilhelmilast_img read more

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Reporter needs immediate full police protection in Italy’s Puglia region

first_img Follow the news on Italy On eve of the G20 Riyadh summit, RSF calls for public support to secure the release of jailed journalists in Saudi Arabia ItalyEurope – Central Asia Condemning abusesProtecting journalists CorruptionOrganized crimeWomenViolence News December 2, 2020 Find out more Reporters Without Borders (RSF) calls on the authorities in the capital of southeastern Italy’s Puglia region to quickly confirm adecision by the prefect of Lecce, a province that is part of Puglia, to award investigative journalist Marilù Mastrogiovanni full police protection. But Cucinotta’s decision needs to be endorsed by officials in Rome so that Mastrogiovanni will be able to receive full police protection whenever she visits the southern part of Puglia, Salento, the region where she was born and where she lived until she and her family were forced to leave a year ago. “This journalist will continue to be exposed to serious death threats if no action is taken,” said Pauline Adès-Mével, the head of RSF’s European Union desk. “We already called on the local authorities to do everything possible to protect her when she was getting a lot of threats last summer. We welcome the prefect’s  decision to grant her this protection but its implementation depends on the provincial committee for public order and security in the cities of Bari and Lecce.” The editor of Il Tacco d’Italia, the news site she founded in 2003, and a specialist in covering Sacra Corona Unita, a regionalcrime family known as Italy’s “fourth mafia,” Mastrogiovanni has until now received a partial form of police protection. Receive email alerts to go further Help by sharing this information ItalyEurope – Central Asia Condemning abusesProtecting journalists CorruptionOrganized crimeWomenViolence Investigative reporters in Italy, which is ranked 46th in RSF’s 2018 World Press Freedom Index, are often targeted by the country’s mafia networks. Paolo Borrometi, an expert on the Sicilian mafia, escaped a murder attempt in Sicily last May. Around ten Italian journalists are currently receiving around-the-clock police protection News RSF and 60 other organisations call for an EU anti-SLAPP directive November 23, 2020 Find out more But it is clearly inadequate in the light of the latest intimidation to which she has been subjected in connection with her reporting, which includes coverage of organized crime’s involvement in waste management in Puglia.Lecce’s prefect, Maria Teresa Cucinotta, decided that Mastrogiovanni needed full police protection after she received about 4,000 emails containing death threats, and a police investigation confirmed Sacra Corona Unita’s role in this intimidation campaign. Organisation March 14, 2019 – Updated on March 15, 2019 Reporter needs immediate full police protection in Italy’s Puglia region Ten RSF recommendations for the European Union RSF_en News News November 19, 2020 Find out morelast_img read more

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Councillors vote to end the two mayor tangle in Limerick

first_imgEmail Previous articleTeam Limerick Cleanup 5 statistics show litter trends changingNext articleTake the last line of O’Kane Alan Jacqueshttp://www.limerickpost.ie Advertisement Local backlash over Aer Lingus threat TechPost | Episode 9 | Pay with Google, WAZE – the new Google Maps? and Speak don’t Type! Facebook NewsPoliticsCouncillors vote to end the two mayor tangle in LimerickBy Alan Jacques – May 1, 2019 1036 Linkedin RELATED ARTICLESMORE FROM AUTHOR Limerick on Covid watch list center_img Housing 37 Compulsory Purchase Orders issued as council takes action on derelict sites Twitter Is Aer Lingus taking flight from Shannon? Print Cllr Sheahan, who was the first Mayor of Limerick City and County after the amalgamation.“YOU can’t have two first citizens,” former Mayor Kevin Sheahan insisted this week as councillors voted to change the title of the Metropolitan Mayor of Limerick.At this month’s meeting of Limerick City and County Council, a proposal to change the name from Mayor of the Metropolitan District of Limerick to Cathaoirleach of the Metropolitan District of Limerick, was passed by 16 votes to 6.Sign up for the weekly Limerick Post newsletter Sign Up Cllr Sheahan, who was the first Mayor of Limerick City and County after the amalgamation of the two local authorities in 2014, claimed there were some “embarrassing moments” during his term in office.“The two mayors that year were both named Sheahan and they were both from Askeaton, which added to the confusion.“We did some research at the time and we discovered we were the only city in the world with two mayors. People would ask ‘how do you have two mayors?’ but there was no real explanation,” Cllr Sheahan revealed.Fine Gael councillor John Sheahan took a similar view.“This has been an issue for a while. People don’t know if you are big mayor or small mayor, little mayor or large mayor. We need clarity on this for the people of Limerick,” he insisted.Another former Mayor of Limerick City and County, Cllr Liam Galvin agreed there was “too much confusion” around having two mayors.“The role of mayor is very important. It is more important now than ever before and those who were mayor during the first term of this council were top quality, topnotch. I support the proposal to change the name of Metropolitan Mayor to Cathaoirleach.Independent councillor John Gilligan, himself a former Limerick mayor, didn’t think the title of Cathaoirleach of the Metropolitan District of Limerick “carried the same weight”.He also hit out at Fine Gael and Fianna Fáil for their “comfy” arrangement of alternating mayoralties over the last five years.Council Chief executive Conn Murray pointed out that the office of mayor had “evolved” since the amalgamation of the two local authorities but said it is still “a critically important position”. TAGSelectionLimerick City and CountyMayorNewspolitics WhatsApp Shannon Airport braced for a devastating blow last_img read more

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RBS Faces 10 Years Without Profits

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post About Author: Dean Terrell October 27, 2017 1,439 Views Home / Daily Dose / RBS Faces 10 Years Without Profits Christy Goldsmith Romero Deirdre M. Daly FBI Special Agent in Charge of New Haven Division Fraud Patricia M. Ferrick RBS Reuters RMBS SIGTARP Special Inspector General for the Troubled Asset Relief Program U.S. Attorney for Connecticut 2017-10-27 Dean Terrell The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, Journal Tagged with: Christy Goldsmith Romero Deirdre M. Daly FBI Special Agent in Charge of New Haven Division Fraud Patricia M. Ferrick RBS Reuters RMBS SIGTARP Special Inspector General for the Troubled Asset Relief Program U.S. Attorney for Connecticut Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Previous: Treasury Reports Regulation Improvements Next: Pending Home Sales: National Update Demand Propels Home Prices Upward 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago RBS Faces 10 Years Without Profits Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Based on a release from the District of Connecticut’s U.S. Attorney’s Office, the Royal Bank of Scotland (RBS) has agreed to pay a monetary penalty of $35 million and an additional $9 million to customers impacted by residential mortgage-backed securities fraud. This also includes firms affiliated with recipients of federal bailout funds through the Troubled Asset Relief Program. Prior to the settlement, the bank released a statement to Reuters: “RBS has zero tolerance for market misconduct,” the bank said. “We are pleased to be able to resolve this issue as we continue to build a simpler, stronger bank that is fully focused on serving our customers well.” RBS employees were convicted for defrauding customers through several methods, which included misleading buyers about a seller’s asking price on RMBS and keeping the difference of the price paid by the buyer and by misrepresenting bonds held in RBS’s inventory by claiming they were from a false third-party seller.  “For years, RBS fostered a culture of securities fraud,” said Deirdre M. Daly, the U.S. Attorney for Connecticut. By agreeing to a non-prosecution agreement, RBS Inc.’s is only addressing its corporate criminal liability and not any potential criminal charges for individuals. “RBS was able to avoid criminal charges in this case only because of its voluntary self-reporting and extraordinary cooperative efforts. By entering into this agreement, RBS has admitted the seriousness of its past criminal conduct and made a clean break” Daly said. According to Special Inspector General for the Troubled Asset Relief Program (SIGTARP) Christy Goldsmith Romero, RBS’s cooperation led to the convictions of an RBS trader and RBS supervisor. “RBS’s cooperation in SIGTARP’s investigation and subsequent actions to right this wrong are the correct response when federal law enforcement shows up” she said.RBS would have faced much worse consequences if they hadn’t cooperated for their conduct,  according to FBI Special Agent in Charge of New Haven Division Patricia M. Ferrick. “It is incredibly troubling that RBS supervisors participated in and encouraged lower level employees to commit securities fraud, then took steps to prevent honest employees from reporting their concerns,” Ferrick said. “The U.S. Attorney’s Office, SIGTARP and the FBI have forged a formidable partnership in our investigation into fraud in the RMBS and related markets” he said.The full release from the U.S. Attorney’s office can be found here. Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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The Benefits of Automating Mortgage Documents

first_img Demand Propels Home Prices Upward 2 days ago Automation Documentation Loan mortgage OCR Processing Technology 2018-12-04 Radhika Ojha 3. Visual Classification (a.k.a ‘Fingerprinting’)This legacy approach has recently been remarketed for use in the mortgage industry. While it does have the advantage of sub-second speed, it is not an OCR solution. Instead, an image analysis (non-text based) approach is used to identify documents and page types.Visual classification attempts to differentiate between document types A and B largely by examining the distribution of ink on samples of each known document. Similar to thumbprint analysis, the graphical signature of each document type is learned and remembered. It has the following advantages: Processing speed.Works well on documents with a static layout such as tax forms or a 4506-T form.Training time, as it is relatively simple for the system to learn a small range of document variations from image signature analysis. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Weighing in On Construction Spending Next: Changing the SFR Marketplace The Best Markets For Residential Property Investors 2 days ago The layout-specific configurations needed for each document variation can take a long time to set up if the number of document variations/types is high.These layout-specific configurations need to change if the layout of a document changes.  The graphical signature approach tends to be less reliable with more than one hundred document variations/types to compare, affecting accuracy in some cases. Image processing time tends to be linear relative to the number of document variations/types.This approach fails to leverage the rich text present in a mortgage file to detect document boundaries for multiple page documents, while also lacking the ability to extract data from the documents once indexed. Tagged with: Automation Documentation Loan mortgage OCR Processing Technology Share Save December 4, 2018 3,284 Views The Benefits of Automating Mortgage Documents Servicers Navigate the Post-Pandemic World 2 days ago Many technology options are available today to automate mortgage document processing tasks. Some solutions are well marketed with great claims of mortgage ‘knowledge’ and an ability to provide tremendous results. In some cases, providers use offshore labor rather than technology, or some combination of the above. When conducting due diligence, understanding the differences in these approaches is key to supporting expansion and scalability requirements.Three technology approaches help determine the right solution for automating mortgage processing documents:1. Zonal OCRThe zonal Optical Character Recognition (OCR) approach looks in specific locations, or ‘zones’, on a page for relevant text. The benefits of this system include:Minimizing the OCR processing time since only configured zones are processed by the system.Works well on documents with a static layout such as tax forms or a 4506-T form.However, this process is administratively heavy, as variations in document layout require distinct zonal templates. Many times the relevant text is in a highly volatile location, making it difficult to find.2. Full Page OCRThis approach makes a full-page OCR ‘read’ of every page of every document, much the same as a human being. Ideally, each page is read in less than one second and the content is processed through a set of rules to determine the document type of each page. While this may seem to be the obvious way to approach the task of indexing the diverse documents found in the mortgage industry, most technology providers are unable to deliver the speed necessary to successfully scale with this approach. The benefits of this approach include:Works on all mortgage document variations, even pay stubs with millions of variations.  Ability to index document versions which may have never been seen before by the system assuming they are lexically similar (same words and phrases found throughout similar learned examples).Ability to accurately distinguish between leading and following pages, eliminating the need for adding document separator sheets. Ability to “discover” data in a manner similar to a human being, using words and phrases across the entire document to find key data elements for extraction.High-speed OCR allows for almost infinite scalability with a relatively small hardware footprint. The Week Ahead: Nearing the Forbearance Exit 2 days ago Mark Tinkham is Director of Business Alliances at Paradatec, Inc. Over the past 25-plus years, Tinkham has worked for technology companies that deliver innovative solutions to the financial services industry. For the past 10 years, his primary focus has been bringing efficiencies to the mortgage market through industry-leading Optical Character Recognition.  Print This Post in Daily Dose, Featured, News, Technology About Author: Mark Tinkham However, this system also has certain drawbacks, which include: Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Home / Daily Dose / The Benefits of Automating Mortgage Documents Subscribelast_img read more

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Fed: No Change in Interest Rates Until Economy Recovers

first_imgHome / Daily Dose / Fed: No Change in Interest Rates Until Economy Recovers Share Save Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Tagged with: Federal Reserve housing market 2020 Interest rates Federal Reserve housing market 2020 Interest rates 2020-06-10 Mike Albanese Demand Propels Home Prices Upward 2 days ago Fed: No Change in Interest Rates Until Economy Recovers Related Articles Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News About Author: Mike Albanesecenter_img Servicers Navigate the Post-Pandemic World 2 days ago The Federal Reserve announced that interest rates will remain at 0 to .25% “until it is confident” the economy has recovered from COVID-19 and on track to achieve maximum employment and price stability. The Fed also announced over the coming months that it will increase its holdings of Treasury securities and agency residential and commercial mortgage-backed securities “at least at the current pace” to sustain smooth market functions. “The Committee will closely monitor developments and is prepared to adjust its plans as appropriate,” the Fed said. According to projections by the Fed, it does not project for interest rates to rise above 1% until 2022.In March, the Fed dropped interest rates to zero in an emergency measure to combat the immediate effect of the coronavirus. First American Financial’s Deputy Chief Economist Odeta Kushi said the Fed is following through on their commitment to “do anything it takes for as long as it takes” to mitigate the impacts of COVID-19, including policies that impact the mortgage markets.“The Fed is a gigantic ready-buyer in the secondary market, generating demand that increases MBS prices and lowers yield for investors—this results in lower mortgage rates,” she said.George Ratiu, realtor.com’s Senior Economist, echoed Kushi’s statement, saying the Federal Reserve “remains committed” to providing liquidity to the financial system and the economy.”Maintaining the current pace of mortgage-backed securities purchases is a welcome sign, indicating that well-functioning real estate markets are a priority as we move into the recovery phase. The current recession was initiated by a clear decision to close business activity to ensure the health and safety of Americans. Providing a bridge across the shutdown crevasse in the form of financial liquidity is paramount to regain the trust and financial ability of buyers and sellers to return to a functioning housing market,” he said. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Previous: 30% of Americans Missed June Housing Payments Next: CFPB Issues CARES Act Forbearance Guidance June 10, 2020 1,577 Views The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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