Eurozone on track, says Rehn

first_img Eurozone on track, says Rehn GROWTH in the Eurozone will hit 1.6 per cent in 2011, higher than previous forecasts of 1.5 per cent, the EU’s economics chief said yesterday.However, commissioner Olli Rehn warned that oil prices will average $100 (£61) this year, on the day that consumer price inflation in the euro area was announced at 2.4 per cent in February.Inflation was up from a downwardly revised 2.3 per cent in January.The ECB’s latest interest rate decision is announced tomorrow.Meanwhile, manufacturing surveys across the euro area were yesterday confirmed at 59 in the Markit purchasing managers’ index (PMI), the fastest rate of growth since June 2000.And cost inflation peaked at record highs in all single currency countries apart from Ireland and Greece, the survey revealed. Across the whole Eurozone, inflationary pressures surged as both output and input prices rose at a record pace.Factory growth in the region was led by its largest economy, Germany, along with Austria and the Netherlands. In all three nations, manufacturing PMI showed record levels of growth.Unemployment also fell in Germany in February, from 7.4 per cent to 7.3 per cent. The fall reflected positive labour market news for the Eurozone as a whole, where the unemployment rate declined to 9.9 per cent in January, from 10 per cent at the end of last year. KCS-content whatsapp Show Comments ▼ Tuesday 1 March 2011 8:07 pm whatsapp Share Tags: NULL Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wraplast_img read more

German industrial orders see rebound

first_img whatsapp German industrial orders see rebound KCS-content Show Comments ▼ whatsapp More From Our Partners Matt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Share GERMAN factory orders bounced back in the new year after a weak December, official data showed yesterday.Industrial orders were up 2.9 per cent in January compared to December, when they dropped by a downwardly revised 3.6 per cent.The jump surpassed the expectations of economists, and suggest that the Eurozone’s powerhouse economy is “surging again, confirming that the December drop was only a correction but not a trend reversal,” said ING’s Carsten Brzeski.The rise was largely driven by higher domestic orders, which increased 4.5 per cent, while foreign orders rose 1.6 per cent.And within foreign orders, demand from other parts of the euro area was strongest, rising by 2.3 per cent. Non-Eurozone orders were up just 1.3 per cent.“Eurozone demand for German goods is alive despite fiscal austerity,” Brzeski said. “German industry is awakening from its short hibernation.” Tags: NULL Tuesday 8 March 2011 7:39 pmlast_img read more

Dangote Sugar Refineries Plc (DANGSU.ng) HY2013 Presentation

first_imgDangote Sugar Refineries Plc (DANGSU.ng) listed on the Nigerian Stock Exchange under the Food sector has released it’s 2013 presentation results for the half year.For more information about Dangote Sugar Refineries Plc (DANGSU.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Dangote Sugar Refineries Plc (DANGSU.ng) company page on AfricanFinancials.Document: Dangote Sugar Refineries Plc (DANGSU.ng)  2013 presentation results for the half year.Company ProfileDangote Sugar Refineries Plc cultivates and mills sugarcane in Nigeria and produces fortified and non-fortified granulated sugar for household consumption and use in pharmaceutical and food and beverage manufacturing. The fortified product is a fine high quality Vitamin A fortified white granulated sugar which is an all-purpose sugar used for baking and sweetening beverages and food stuff. It is sold under the brand name Dangote Sugar in 50kg, 1kg, 500g and 250g packages. The unfortified product is a specially-processed sugar grade used by pharmaceuticals and food and beverage manufacturing companies. Dangote Sugar Refineries’ subsidiary company, Savannah Sugar Company Limited, cultivates sugarcane for the group and is responsible for the milling process. Dangote Sugar Refineries Plc is listed on the Nigerian Stock Exchangelast_img read more

Ascencia Limited (ASCE.mu) Q32017 Interim Report

first_imgAscencia Limited (ASCE.mu) listed on the Stock Exchange of Mauritius under the Investment sector has released it’s 2017 interim results for the third quarter.For more information about Ascencia Limited (ASCE.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Ascencia Limited (ASCE.mu) company page on AfricanFinancials.Document: Ascencia Limited (ASCE.mu)  2017 interim results for the third quarter.Company ProfileAscencia Limited is a commercial property fund with an investment portfolio comprising quality income earning properties located in Mauritius. The company specialises in retail properties where the company engages in the acquisition, investment and investment holding of real estate properties on the Mauritian island. Ascencia Limited (Class A shares) operates shopping malls locally and regionally. Ascencia Limited is listed on the Stock Exchange of Mauritius.last_img read more

CAFAmerica Receipts Jumped 82 Percent In 2004-05

first_img  29 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis CAFAmerica Receipts Jumped 82 Percent In 2004-05 Tagged with: Charities Aid Foundation Giving/Philanthropy Research / statistics About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Howard Lake | 30 June 2005 | News More U.S. Donors Using CAFAmerica to Support Charities OverseasUK / European News HighlightsIn the past year• 789 grants totalling more than $7.8 million were channelled to UK charities through CAFAmerica• 79 grants totalling $1.9 million were channelled to charities in the European Union• There are now 951 eligible UK charities and 79 eligible EU charitiesALEXANDRIA, VA – In an indication of growing interest in borderless charitable giving by U.S. donors, CAFAmerica announced today that its charitable contribution receipts in 2004-05 increased by 82 percent over the previous year.“We are seeing both increased interest in international philanthropy on the part of U.S. donors, as well as an increased confidence in CAFAmerica as a vehicle for safe, easy, and effective giving overseas,” said Susan Saxon-Harrold, executive director of CAFAmerica.CAFAmerica’s receipts for the 2004-05 fiscal year totalled $15.8 million, up from $8.7 million in 2003-04. The number of individual grants to CAFAmerica grew from 777 to 902. The number of active donor advised fund (DAF) accounts – including individual and corporate DAFs-rose from 15 to 27.“Donors clearly are becoming more sophisticated and more strategic in their international giving,” said Saxon-Harrold, noting the increased use of DAFs. “People are eager to take advantage of tax-efficient vehicles for international giving at the same time that they are seeking help with due diligence in today’s uncertain regulatory environment.”CAFAmerica made grants to 1,474 charities in 43 countries during 2004-05. CAFAmerica grantees were working on every continent to address urgent local issues, from education and health to human rights and environmental protection.In addition, CAFAmerica made $331,000 in grants to charities working on recovery and reconstruction efforts in the aftermath of the December 2004 tsunami in the Indian Ocean. Among the charities supported by CAFAmerica was the Krabi Relief Fund in Thailand, which helped local residents rebuild and relaunch 51 boats that had been damaged in the tsunami.ENDSUK Media contact: Fiona Fountain 01892 544035 / 07887 997 220Editors Notes• Founded in 1992, CAFAmerica is a 501(c)(3) U.S. nonprofit organization dedicated to expanding borderless charitable giving among donors in the United States. We work to change the culture of giving by making international philanthropy safe, easy, and effective for U.S. donors.• CAFAmerica is an independent organization within the CAF International Network, which spans five continents and provides a range of financial services, handling more than $3 billion a year for donors and charities throughout the world. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

In latest judicial harassment of broadcasting group, director-general charged with “false news”

first_img Follow the news on Niger Reporters Without Borders condemns the arrest of Abibou Garba, the director-general of the Dounia radio and TV group, on 1 April in connection with a debate broadcast by Dounia TV in which an NGO activist criticised French President Nicolas Sarkozy’s recent visit to Niamey.“The Dounia group is the victim of repeated harassment by the judicial authorities,” Reporters Without Borders said. “It should not be held responsible for what members of the public say on the air. We urge the authorities to withdraw the charges against Garba.”Garba was brought before the public prosecutor yesterday afternoon together with Elhadj Idi Abdou, a teacher and member of the Alternative Citizen Space NGO, who was arrested on 31 March because of the comments he had made during the previous day’s “Circle of Colleagues” programme on Dounia TV. Both had been held at the headquarters of the criminal investigation department since their arrest.After charging them with “disseminating false news,” the prosecutor ordered their conditional release pending trial on a date still to be determined.During the TV programme, Abdou referred dismissively to the Sarkozy visit as nothing more than a “technical stopover” with the aim of organising the “looting of Niger’s resources.” The topics with the French president reportedly discussed with the Niger authorities reportedly included uranium mining.Dounia is meanwhile the target of defamation lawsuit brought by parliamentarians in connection with the critical comments a politician made during a Dounia TV programme. The station’s representatives were summoned to appear in court on 31 March but the hearing was postponed until 14 April. Niger: Two journalists arrested in disturbing setback for press freedom Receive email alerts RSF_en Organisation The 2020 pandemic has challenged press freedom in Africa The conviction of Niger newspaper editor Moussa Aksar is an attack on investigative journalism Reporters Without Borders condemns the arrest of Abibou Garba, the director-general of the Dounia radio and TV group, on 1 April in connection with a debate broadcast by Dounia TV in which an NGO activist criticised French President Nicolas Sarkozy’s recent visit to Niamey. News Reports May 11, 2021 Find out more NigerAfrica July 16, 2020 Find out more News Help by sharing this information April 3, 2009 – Updated on January 20, 2016 In latest judicial harassment of broadcasting group, director-general charged with “false news” News November 27, 2020 Find out more NigerAfrica to go furtherlast_img read more

Immigrant ‘Dreamer’ Leads New Community Organization Formed from the Success of City Minimum Wage Campaign

first_img Subscribe faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksCitizen Service CenterPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Community News Immigrant ‘Dreamer’ Leads New Community Organization Formed from the Success of City Minimum Wage Campaign From STAFF REPORTS Published on Monday, March 6, 2017 | 8:41 pm The new multi-issue organization in town known as Pasadenans Organizing for Progress, or POP!, announced that its efforts will be led by a “Dreamer” who has made a name for herself for fighting to give the working class community a voice in local government from Southern California to Washington D.C.Lizbeth Mateo is the face for the newly formed POP! and brings over ten years experience organizing community groups to stand up for their rights regarding immigration, housing and policing.Mateo plans to impart some wisdom to fellow community members as an undocumented activist as she leads the way in making a more progressive Pasadena in the wake of a successful campaign from a grassroots effort to raise the City-wide minimum wage to $15 per hour by 2020.“We realized that the campaign was successful because we brought together a broad coalition of organizations and people and we figured we could apply that same influence to lots of different problems and issues in Pasadena,” explained Peter Dreier, Professor of Politics and Chair of the Urban & Environmental Policy Department at Occidental College and Co-founder of POP!.This success, Dreier explained, was due to the collaboration between both low income and middle class residents who are interested in making Pasadena a more progressive and community.“One of the big gaps in Pasadena is the lack of a strong voice by working class and poor people in our community. We want to organize people to have a stronger voice in the centers of power in the City,” said Dreier.According to Dreier, POP! is still in the beginning stages of forming into a non profit organization.“There was a lot of energy and desire to continue to work and change more things in Pasadena. There are several issues that POP! is going to focus on,” said Lizbeth Mateo.Issues of focus include immigration, tenant rights and policing.Each of the different issues will have its own committee within POP!.“This is something new for Pasadena,” said Dreier about POP! being a unique force in the City that focuses on multi-organizing.Mateo’s newfound leadership of organizing POP! Comes with personal experience as an undocumented activist who for years has been at the forefront of battles for immigrant rights fears she may have to put her dream of practicing law on hold after federal officials tentatively denied her bid to legally stay and work in the U.S., according to Buzzfeed.“There’s a large number of tenants in Pasadena who are experiencing issues with landlords who are essentially raising rent amounts in very arbitrary ways so we’re going to be looking into that,” explained Mateo.Mateo applied for the Obama administration’s deferred deportation program in 2015, but U.S. Citizenship and Immigration Services (USCIS) tentatively denied her application because she visited Mexico for 13 days in 2013. In order to be considered under the program, applicants can’t have traveled outside of the U.S. on or after Aug. 15, 2012.Mateo, who was brought to the U.S. in 1998 when she was 14, graduated law school in May and is expected to take the California bar exam in July. The recent grad said she meets all the other requirements for Deferred Action for Childhood Arrivals (DACA), but so far, the tentative denial has cost her a job and, if maintained, her ability to even practice law, according to Buzzfeed.“My hope for POP! is that we can create a large enough network and a powerful enough network that POP! will be the go-to place for people who are looking to organize on issues within the community. We want to be as well connected and as powerful as we can with the help of the community–always leading with the community in mind,” said Mateo.Police brutality and overall policing in the community is another main area of focus for the organization, according to Mateo.“There’s already a group of folks who have been organizing around that issue so POP! is essentially going to function as a coalition of organizations that already exist in Pasadena to have a more coordinated effort,” explained Mateo.POP! Is currently in the process of establishing itself as a 501c3 non-profit organization to serve the community.“It’s a mix of people who live in Pasadena and work in Pasadena. It’s not just lawyers. Right now that’s what it looks like because that’s the group of people who came together to create POP!, but my job is to work directly with the community,” said Mateo.The greater community of Pasadena is the lifeline for POP! as it gears up to cement itself within the community.“One of the things that I really want to do is make sure that we’re bringing a very diverse community together on all issues. So when we are talking about immigrant rights issues, I don’t want to focus just on the latino community. There’s immigrants from all walks of life and so I want to make sure that we are focusing our efforts into creating a diverse organization across race, across gender and across socio-economic status,” said Mateo.“What we discovered during the minimum wage campaign is that what was most influential in persuading the City Council to vote unanimously for the $15 minimum wage is when they heard the human stories from people who were affected by low wages. That’s the purpose of POP! is to build that coalition between middle class liberals and progressive and working class and poor people,” explained Dreier.Currently, POP! is actively pursuing the City Council to pass the ordinance drafted by an immigration defense attorney and other colleagues that aims to protect the local immigrant community from being targets of the police department, which many fear could turn over information to federal agencies.The proposed policy outlines main topics that included the police department here in Pasadena and also in other locations across the country commits to not collecting information about the immigration status of Pasadena residents that they come in contact with, that they don’t share information that’s going to be used for immigration enforcement, and that no local resources are used in any way to support federal immigration enforcement.“What we want is something that is more permanent, that’s an actual policy in writing that the community can turn to where if anything happens we can turn to that policy to protect the City and the community,” explained Mateo.The goal of POP! Is to give the community a voice in matters that have otherwise seemed silenced.“I want the community to be empowered to fight and to organize for themselves and to understand that they have access to City Council, for example, where they can set meetings with them and they can talk to them, that the City Council and the government work for the community and they should be responding to our needs. I don’t want to create an organization that rests on my shoulders only, but I want an organization that rests on the shoulders of the community,” said Mateo.Pasadena serves as the perfect testing ground to mobilize the community and members who are interested in the cause, according to Mateo.“I’m hoping to gain more experience with Pasadena. This is a really good place to implement a lot of really good ideas. It’s a small enough city that it’s not as complicated in the way that we can approach some of these issues so my hope is that I can create something here that we can replicate in other cities as well,” said Mateo.POP!’s website is currently under construction and will be made available soon for the public as a means to stay up to date with meetings and other upcoming events.“We were very impressed about Mateo’s background, her passion for social justice, her ability to relate to different kinds of people and her willingness to go to law school and become a street savvy community organizer. She’s quite remarkable,” said Dreier. Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy First Heatwave Expected Next Week More Cool Stuff Your email address will not be published. Required fields are marked * Top of the News center_img Community News Herbeauty10 Ways To Power Yourself As A WomanHerbeautyHerbeautyHerbeauty10 Female Celebs Women Love But Men Find UnattractiveHerbeautyHerbeautyHerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeautyStop Eating Read Meat (Before It’s Too Late)HerbeautyHerbeautyHerbeauty6 Lies You Should Stop Telling Yourself Right NowHerbeautyHerbeautyHerbeauty10 Brutally Honest Reasons Why You’re Still SingleHerbeautyHerbeauty 0 commentsShareShareTweetSharePin it EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Make a comment Business News Name (required)  Mail (required) (not be published)  Website  Community News Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

FHFA’s Strategic Plan for the GSEs

first_img in Daily Dose, Featured, Foreclosure, Government, Headlines, News, Secondary Market Demand Propels Home Prices Upward 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Federal Housing Finance Agency 2017-09-27 Joey Pizzolato Share Save Servicers Navigate the Post-Pandemic World 2 days ago Previous: Does Owning a Home Affect Financial Stability? Next: Protecting Data Properly Sign up for DS News Daily September 27, 2017 2,161 Views Related Articles About Author: Joey Pizzolatocenter_img FHFA’s Strategic Plan for the GSEs Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / FHFA’s Strategic Plan for the GSEs The Federal Housing Finance Agency (FHFA) released its Strategic Plan for the fiscal years of 2018 through 2022, in which it outlined three strategic goals that it plans on implementing in its continued effort to serve the housing market.Strategic Goal 1: Ensuring Safe and Sound Regulated Entities According to the report, the FHFA uses a uniform risk-based approach in its supervision, in which it examines regulated entities activities and assesses the amount of financial risk that activity may hold for the institution. Examinations occur on an annual basis, as well as targeted examinations, and, if need be, off-site reviews. In this respect, two ratings are assigned: a composite rating on overall well-being of the institution, and individual rankings of components, including capital, asset quality, management, earnings, liquidity, sensitivity to market risk, and operational risk.Strategic Goal 2: Ensure Liquidity, Stability, and Access in Housing FinanceThe FHFA says it has, “the statutory obligation to ‘foster liquid, efficient, competitive, and resilient national housing finance markets,’” In the realm of Federal Home Loan Banks, the FHFA will ensure that these local branches will fulfil their obligation in providing liquidity to their members.The FHFA will also require both Fannie Mae and Freddie Mac (GSEs) to engage in actions that improve liquidity in the single-family housing market, improve servicing standards and expand foreclosure prevention practices, and continue to serve in the multifamily and affordable housing market.Strategic Goal 3: Manage the Enterprises Ongoing ConservatorshipIn this respect, the FHFA will use its conservatorship over the GSEs to ensure that their infrastructure promotes maximum mortgage credit availability and assist homeowners facing hardship while minimizing taxpayer loss. It will also maintain clear standards and expectations for managing executives at the GSEs, and ensure the replacement of exiting officials in a timely manner.To read the full, 22-page outlook on how the FHFA will fulfil its obligations to the housing community, click here. Demand Propels Home Prices Upward 2 days ago Subscribe Tagged with: Federal Housing Finance Agency Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

Spotlight on Fast-tracking Foreclosure

first_img Share Save in Daily Dose, Featured, Foreclosure, News, Print Features Data Provider Black Knight to Acquire Top of Mind 2 days ago Spotlight on Fast-tracking Foreclosure Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago COMAR DHCD Foreclosure Maryland 2019-01-22 Kevin Hildebeidel Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: COMAR DHCD Foreclosure Maryland Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Kevin Hildebeidel Kevin Hildebeidel, a graduate of the Washington College of Law at American University in Washington, D.C., was first admitted to the Virginia Bar in 1993 and began a creditors’ rights and real estate practice that later expanded to Maryland and D.C. He has handled cases at every level of the courts on a variety of issues, including title, bankruptcy, lien and accounting challenges, construction, real estate, and contract disputes, easements and boundary cases, mediations, and both trial advocacy and appellate work. Editor’s note: This feature originally appeared in the January issue of DS News  Last year, Maryland SB 1033 enabled a fast-track foreclosure process for abandoned on blighted properties. The legislation, now codified at MD Code Real Property §7105.14, was intended to reduce the lengthy foreclosure process if certain enumerated criteria could be shown demonstrating that the property is actually abandoned. If the necessary indicia of abandonment could be shown, most of the Notice of Intent (NOI) and mediation processes of Section 7-105.1 are lifted, the trustee is allowed to proceed directly to pre-sale notices and advertisement, and the property could be foreclosed in a compressed timeframe.The Commissioner of Financial Regulation and Department of Housing and Community Development (DHCD) implemented a new form (Appendix H-6) and rule implementing the statute by amending provisions of COMAR 09.03.12 Foreclosure Procedures for Residential Property. The “H-6” form is a straightforward, one-page notice requiring a response within 20 days from service. No objections have been received regarding the form itself. A little over one year in, the results of fast-track foreclosure processes filed across Maryland’s jurisdictions are a mixed bag.At least one county granted the petition immediately.Several others are focused on technical aspects of the notices while others have yet to review the petitions despite the statute’s admonition to “rule on the petition promptly after the petition is filed.” Unfortunately, one of the jurisdictions that has not yet ruled is one of the more populous areas of the state. Another more rural county denied the petition outright without explanation. Some of the inconsistency on the implementation of the fast-track process may be due to the fact that the courts have settled into the new foreclosure process adopted in 2010 with all of the notices, disclosures, and opportunities to mediate contained therein.Departure from that process may be seen as somewhat heretical. Courts are, after all, generally conservative when it comes to their procedure and greatly prefer time-tested and safe procedures. The court which denied the petition outright is believed to fall into this category. The true battleground is to get the urban courts to rule “promptly.” Otherwise, the net gain will be small or negative. The term “promptly” is not really defined in the statute, however. One must look back at the legislative history and, in particular, the Fiscal and Policy Note of March 10, 2017, connected to SB 1033, in order to understand the anticipated gain. There, DHCD indicated it believed the immediate foreclosure process would “reduce the foreclosure timeframe by six months and, accordingly, reduce its’ expenditures related to the foreclosure process on vacant and abandoned properties.”Courts that fail to enter a ruling promptly, so that the expedited foreclosure occurs before six months have elapsed, effectively negate the anticipated gain under the statute. This would be particularly egregious in, for example, the city of Baltimore, where, according to the same Fiscal and Policy Note, some 17,000 vacant buildings were reported in 2016. The sensible path is to push vacant property cases forward in the jurisdictions that accept and process the same quickly, and also to continue to push for a “prompt” review, either up-or-down, in those courts that have not yet ruled. Counsel should continue to advise clients of known problem jurisdictions and tailor their plans accordingly. The Best Markets For Residential Property Investors 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Home / Daily Dose / Spotlight on Fast-tracking Foreclosure Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Mayopoulos Outlines Next Steps Next: The Homebuyer’s Economy in 2019 The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago January 22, 2019 2,202 Views  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily last_img read more

Number of Hispanic Homeowners Expected to Soar by 2040

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Share Save in Daily Dose, Featured, News About Author: Christina Hughes Babb The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Between now and 2040, researchers expect a “skyrocketing” interest in homeownership among Hispanic Americans. In fact, researchers predict that the Hispanic population is the only racial or ethnic group that will experience an increased homeownership rate during this future phase.A study by the Urban Institute takes a closer look at how the housing market can best support their needs.By 2040, say research associates Lauri Goodman and Jun Zhu, 70% of new homeowners will be Hispanic Americans.”To maintain a high level of homeownership, the mortgage and homebuilding ecosystem will need to evolve in a way that breaks down barriers and meets the needs of Hispanic homebuyers,” the authors noted.The authors project that, with no change in policies, the overall homeownership rate will drop from 65% to 62% between 2020 and 2040. Non-Hispanic White homeownership will dip 73% to 71%, the Black homeownership rate will drop 42% to 41%, and the homeownership rate for other households (mostly Asian households but includes other groups, such as Pacific Islander households), they expect, will drop from 58% to 57%.And the rise among this demographic will be led by young Hispanic households.”In 1990, just 7.3% of young households (headed by someone younger than 65) were Hispanic. By 2020, that had more than doubled to 16.4 percent. We project that this share will continue to increase in the next two decades, and that by 2040, more than 20 percent of young households will be Hispanic—triple the share in 1990.”That’s likely because the Hispanic population is much younger than other racial groups, according to the institute.This forecast is based on pre-pandemic data, so the researchers add that some of the barriers to homeownership among Hispanic Americans—including less income and wealth, lower credit scores, larger families, and more multigenerational families than White counterparts—have been exacerbated by fallout from COVID-19. The fact is that barriers remain, they say, so here are a few policy changes and re-focuses at a policymaking level that the Urban Institute researchers recommend:Expand the use of down payment assistance. “Hispanic homebuyers’ lower incomes, lower net worth, and lower parental wealth (and potential gifts or inheritance) makes affording a down payment challenging. But programs in every state offer assistance. There is also significant misinformation about the size of the down payment needed to buy a home. Accordingly, increasing the visibility of and opportunities for housing counseling and financial education about down payment assistance and the basic facts about down payments could support the growth in Hispanic homeownership.”Expand access to mortgage credit. “To truly capture the creditworthiness of future Hispanic borrowers, the housing industry must rethink how it qualifies borrowers for mortgages, update current credit scoring models, take into account additional data such as on-time rental payments, reexamine how it takes a borrower’s debt-to-income ratio into account, and more fully count the income of those who are self-employed or have gig-economy income.”Support the introduction of more affordable housing into the market. “Greater access to mortgages and down payments will do little to alleviate the barriers to homeownership if the industry fails to address the low supply of affordable housing.”If federal, state, and local policymakers act now,” concluded the researchers, “they can significantly reduce these barriers and ensure continued robust growth in Hispanic homeownership. Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Number of Hispanic Homeowners Expected to Soar by 2040 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February 26, 2021 1,222 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago 2021-02-26 Christina Hughes Babb Number of Hispanic Homeowners Expected to Soar by 2040 Demand Propels Home Prices Upward 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Previous: Factors That Defined Housing in 2020 Next: How Many Mortgage Holders Are Still Utilizing Forbearance? Related Articleslast_img read more