Vivo Energy Mauritius Limited (SHEL.mu) listed on the Stock Exchange of Mauritius under the Energy sector has released it’s 2006 annual report.For more information about Vivo Energy Mauritius Limited (SHEL.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Vivo Energy Mauritius Limited (SHEL.mu) company page on AfricanFinancials.Document: Vivo Energy Mauritius Limited (SHEL.mu) 2006 annual report.Company ProfileVivo Energy Mauritius Limited is a subsidiary of Vivo Energy Mauritius Holdings B.V. and offers liquefied petroleum gas in various cylinder sizes and bulk for domestic, commercial and industrial applications, supplies transport and industrial fuels, lubricants and greases to business-to-business customers. In addition, the company provides a range of lubricants for the automotive, marine, and industrial applications as well as markets aviation jet fuel, provides marine fuel oil, marine gasoil, and shell lubricants. Vivo Energy Mauritius Limited is listed on the Stock Exchange of Mauritius.
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. Roland Head owns shares of ITV. The Motley Fool UK has recommended Hollywood Bowl and ITV. 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. With a second wave of coronavirus gathering pace across the UK and much of Europe, where should you invest? As a natural contrarian, I’ve been hunting through the market for unloved consumer stocks. I reckon I’ve found three cheap shares that could be bargain buys.I’m certain this is too cheapOne of my long-running turnaround picks is ITV (LSE: ITV). The television group is still struggling with low advertising spend and difficult filming conditions, but ITV’s share price is now up by more than 40% from the low of 50p seen earlier this year.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…I think this progress is supported by fundamentals. Although revenue fell by 17% to £1,218m during the first half of the year, the group remained profitable.Thanks to careful cash management and cost control, net debt fell by around 35% to £783m during the 12 months to 30 June, leaving leverage at 1.3x EBITDA — that’s pretty comfortable, in my view.Income from the group’s content library and production business are helping to support profits, despite the ad slump. ITV is also investing in data services — an area which could help improve profitability.Analysts expect 2020 to be a low point and have pencilling in profit growth of 19% in 2021. That leaves the stock trading on 7.4 times 2021 forecast earnings, with a possible 7% dividend yield. I rate ITV as a buy.This cheap share could be a WFH winnerShares in flooring group Headlam Group (LSE: HEAD) are still trading close to the lows seen when market crashed in March. But I think this company — which distributes flooring to trade and retail suppliers across the UK and parts of Europe — is being unfairly penalised.The way I see it, there’s no reason why Headlam’s sales won’t return to levels seen in recent years. Even if 2019 was a cyclical peak, a return to the level of sales seen from 2014-16 would leave Headlam shares looking cheap, in my view.Although a housing slowdown could hit demand, the trend towards working from home might also stimulate sales. Headlam’s finances look very sound to me, so I don’t expect the company to suffer problems while it waits for trading to improve.Analysts’ forecasts price the shares on 12 times earnings for 2021, with a dividend yield of 3.6%. I reckon this could be a cheap entry point to a good quality business.Risky but worth it?My final cheap share may be a little riskier than ITV and Headlam. Hollywood Bowl Group (LSE: BOWL) is the UK’s largest operator of ten-pin bowling alleys. All the firm’s sites have reopened but, for obvious reasons, are running at reduced capacity.As you’d expect, Hollywood Bowl’s share price has cratered this year, falling more than 50% since 2 January. However, the company’s latest trading update was more encouraging than I expected. Revenue since reopening has been running at 68% of last year’s levels, which seems impressive to me when capacity is restricted.More importantly, the business is said to have been “cash positive” in August and September. Management expects “a marginal profit” for the full year.Another period of closure could cause problems. But if trading returns to normal by the middle of next year, I reckon Hollywood Bowl could be cheap at current levels. I’d rate the shares as a speculative buy. Image source: Getty Images Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! See all posts by Roland Head I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” 3 cheap shares I think could be big winners in 2021 Simply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares 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. Roland Head | Saturday, 17th October, 2020 | More on: BOWL HEAD ITV
‘Black market’ in London Marathon golden bonds 38 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis 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 | 5 April 2005 | News The shortage of London Marathon golden bonds which guarantee places for charity runners has led to a ‘black market’ according to Third Sector magazine. One charity has paid twice the official cost to secure a bond for five runners.The difficulty of obtaining golden bond places for fundraising runners at the London Marathon has prompted some charities to pay over the odds to secure a place for their supporters.The £1,250 bonds were introduced in 1993, and are capped at 2,400. Since holders can renew them and the waiting list has been closed at 600 charities, there is almost no chance of other charities getting a place. Advertisement For this reason, charities desperate to get their runners into the event are prepared to pay more than the going rate to get them. According to Third Sector, the Ataxia-Telangiecstasia Society paid a larger charity £3,000 for a bond for five runners. The charity had been doing this “for several years”.Phillip Bush, a fundraiser at the Royal Blind Society, has been leading a campaign among smaller charities to try to get the London Marathon organisers to change or relax the rules. A joint letter from 39 charities will be sent to the organisers shortly requesting changes such as an increase in the number of Golden Bonds, ending the system of carrying forward unused places, and allocating Golden Bonds to charities which have been on the waiting list for more than six years.David Bedford, race director, told Third Sector that he regarded the selling on of golden bonds as another form of fundraising. “We are proud of the golden bond scheme,” he said, “which has allowed the marathon to become the biggest annual fundraiser event in the world.”
Tagged with: Ireland 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 | 15 July 2006 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Web event raises ‚€40,000 22 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis A charity event which used a specially designed website to conduct all transactions has raised ‚€40,000 for a homeless charity in the Irish Republic. Simon Open Door was organised with the support of the Royal Institute of Architects of Ireland.The money was raised by people booking a free consultancy with an architect and making a ‚€50 donation to the Simon Communities of Ireland. Participants booked and paid online while the architects throughout Ireland also registered their involvement.Last year the event raised ‚€25,000 and the architects and Simon have confirmed that the event will be run again next year. Advertisement
Aubrey McClendon did not invent fracking — the process that unleashed widespread drilling for natural gas — but he convinced Wall Street to invest in shale gas by purchasing land leases for future drilling sites. He became the recognized leader of the “energy revolution” in the U.S.On March 1, McClendon was charged with conspiring to rig bids to buy oil and natural gas leases in Oklahoma from 2007 to 2012. The next day, when he was due to appear in Oklahoma City federal court, McClendon’s car slammed into a bridge embankment. He died in the crash.The Department of Justice had charged McClendon with orchestrating a scheme between two large energy companies, unnamed in the indictment. According to a DOJ statement issued March 2, the companies conspired about which one would win a bid, and then the winner would give an interest in the lease to the so-called competitor, so in effect both won.This price rigging first came to light in 2012 when Reuters News Agency reported that Chesapeake Energy, with McClendon as CEO, agreed with Encana not to bid against one another on leases for 1 million acres of public land in Michigan’s Collingswood Shale. Already a steal at $13 an acre, these leases included water vital to the fracking process. Chesapeake eventually paid $25 million to landowners to settle the case.The other company reportedly cited in the indictment was Sandridge Energy. Tom Ward, ex-CEO of Sandridge, co-founded Chesapeake Energy with McClendon in 1989. Less than 24 hours after McClendon’s death, the DOJ announced plans to drop the indictment. It’s uncertain if the DOJ will pursue one against Chesapeake, Ward or Sandbridge.Big Oil: a family businessMcClendon was a great-nephew of oil baron Robert S. Kerr, a former Oklahoma governor and senator. After graduation from Duke University and a short stint working for his uncle’s oil company, McClendon became a “landman” — the industry term for a negotiator of land leases for future drilling by oil and gas companies.In a Rolling Stone magazine interview published on March 1, 2012, McClendon stated while “Geologists and engineers were the important guys — it dawned on me pretty early that all their fancy ideas aren’t worth very much if we don’t have a lease. If you’ve got the lease and I don’t, you win.” Winning was everything to McClendon.In 1982 McClendon had formed Chesapeake Investments in partnership with Ward. They quickly recognized that fracking provided unlimited opportunities for companies with access to shale-field land. In 1989, McClendon and Ward each invested $50,000 to form Chesapeake Energy, focused primarily on shale gas. By 1993 the firm was worth $25 million.Chesapeake’s primary goal was to lock up land leases for future drilling. Key to their success was the promise, often unfounded, of unlimited wealth from yet undrilled and untested shale gas reserves. They also benefited from a largely unregulated industry.Chesapeake’s profits came not from drilling or selling gas, but from buying and flipping leases on land that could potentially contain natural gas. The company became the largest leaseholder in the U.S., with drilling rights to over 15 million acres. McClendon described his business model to a group of Wall Street analysts, “I can assure you that buying leases for x and selling them for 5x or 10x is a lot more profitable than trying to produce gas at $5 or $6 per million cubic feet.” (Rolling Stone)Chesapeake’s practices: a ‘Ponzi scheme’Chesapeake often went into debt to purchase large areas of land. The company would drill a few wells to demonstrate the reserve’s potential to promote leases to bigger oil and gas companies looking to invest in shale gas.Arthur Berman, a Texas energy consultant, called Chesapeake’s practices a “Ponzi scheme” for overhyping the promise of shale gas to cover their lease investments, reported Rolling Stone. If wells didn’t pay off, Chesapeake found ways to cover its debt through off-book accounting methods. One review of data gathered from 2003 to 2009 of over 9,000 wells found that less than 10 percent recouped their estimated costs after operating for seven years.Like many wealthy individuals in the energy industry McClendon used his wealth to influence politics. He funded the Swift Boat attack against John Kerry and contributed money to stop same-sex marriage. In 2004 he helped launch Tom Corbett’s career with a $450,000 donation to his floundering bid for Pennsylvania attorney general. Corbett eventually became the governor who turned Pennsylvania “into the Texas of the natural-gas boom.” (Philadelphia Daily News, June 29)Chesapeake’s business model began to unravel with heavy investments in Pennsylvania’s Marcellus Shale fields after 2007. Overproduction created a glut of natural gas that drove prices down. Simultaneous overproduction in the housing industry created the financial meltdown on Wall Street.Meanwhile, owners of land leased to Chesapeake and other energy companies in Pennsylvania complained that chemicals and methane gas were leaking into their water wells. Reports surfaced of river and tap water, laced with methane gas, igniting in contact with flames.Residents experienced increasing health problems from exposure to the gas and fracking chemicals. The promised wealth from lease royalties rarely materialized, while homeowners were left with property they couldn’t sell because of poisoned wells.After being found responsible for two major Pennsylvania gas well accidents in 2010, Chesapeake Energy was eventually forced to suspend drilling operations there.McClendon was known to have intertwined his personal finances with the company’s by investing in wells under his name and then using the investment as collateral for loans to himself. Having made serious personal investments in Marcellus Shale leases, McClendon had to sell off 94 percent of his company stock in 2008 to cover his personal losses. After the Reuters report and subsequent lawsuits in Michigan in 2012, Chesapeake’s board forced McClendon to leave the company in 2013.Yet McClendon was undeterred. After oil prices returned to record highs in 2013, he started another company, American Energy Partners. Two years later, oil prices again collapsed, forcing many drilling companies into bankruptcy.However, McClendon stayed in the game, again using personal assets, including his part ownership of the Oklahoma City Thunder basketball team as collateral. His recent investments included shale fields in Mexico, Australia and Argentina.McClendon’s death may derail the federal indictment, but it will do little to put the fracking genie he unleashed back in the bottle. Overproduction of oil and natural gas is a driving force behind the recent stock market crisis that again threatens to drive the global capitalist system into its impenetrable wall.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
Hundreds of thousands of people have been in the streets protesting for months. Transportation strikes have disrupted travel. Public opinion supports the strikes, even though they were extremely inconvenient. Students and teachers from primary grades to universities have walked out repeatedly.Still, the French government under President Emmanuel Macron — a former investment banker — did not back down and withdraw its reactionary anti-worker pension “reform” bill.Women union members, dressed as iconic ‘Rosie the Riveter,’ protest the French government’s cut-back pension plan in Paris.When the bill was introduced in the National Assembly in January, it quickly drew 40,000 amendments and fierce resistance. The United Left in the Assembly, which includes the French Communist Party, France Insoumise (France Unbowed) and other smaller groups, called for a referendum.When it became clear that the government was going to have serious problems getting the bill passed, Prime Minister Édouard Philippe invoked a constitutional procedure that let him force the bill through the Assembly Feb. 29 without a vote and without any more debate. (When a prime minister of a different party invoked this procedure a few years ago, Philippe resigned his assembly seat in protest.)The coalition of unions and youth groups that has led the struggle against pension reform called for immediate protests. A large contingent from this coalition joined the International Working Women’s Day march on March 8 in Paris, vigorously raising the fact that Macron’s “pension reform” severely disadvantages women.According to French Television, 60,000 people, mainly but not exclusively female, marched in Paris.The unions are calling for more protests at the end of March after the municipal elections are completed.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
Facebook Twitter Home Indiana Agriculture News Pelosi: USMCA Deal ‘Victory for American Workers’ Pelosi: USMCA Deal ‘Victory for American Workers’ By Ashley Davenport – Dec 10, 2019 Facebook Twitter SHARE On Tuesday, House Speaker Nancy Pelosi announced that House Democrats and the White House have reached a deal with ratifying USMCA.For more than a year, Democrats have been concerned about labor enforcement to replace NAFTA.Many sectors of the ag industry have been pushing for USMCA passage for months. In September, all former U.S. Secretaries of Agriculture since the Reagan administration announced their support for the U.S.-Mexico-Canada Agreement.There has been overwhelming support now that the deal is one step closer to being signed.Secretary of Agriculture Sonny Perdue calls this a “big win” for workers and the economy, but especially for rural America.“USMCA is a big win for American workers and the economy, especially for our farmers and ranchers. The agreement improves virtually every component of the old NAFTA, and the agriculture industry stands to gain significantly,” said Secretary Perdue in a statement. “President Trump and Ambassador Lighthizer are laying the foundation for a stronger farm economy through USMCA and I thank them for all their hard work and perseverance to get the agreement across the finish line. While I am very encouraged by today’s breakthrough, we must not lose sight – the House and Senate need to work diligently to pass USMCA by Christmas.”American Farm Bureau Federation President Zippy DuVall said in part, “Ratification of the USMCA would build on the momentum of the U.S.-Japan agreement, which gave a major boost to American agricultural products in our fourth-largest market, and send a signal that the U.S. is back in business in the international marketplace.”In a statement, Kevin Ross, president of the National Corn Growers Association said, “NCGA’s top legislative priority in 2019 has been passing USMCA. Today’s announcement brings us one step closer to ratifying this important agreement and securing the future of our trading relationship with Mexico and Canada, the top export market for U.S. corn farmers. It’s been a brutal year for many farmers who really need the certainty this would provide for agricultural trade.” SHARE Previous articleMartin to Review Recent Weather Patterns in Spring Preview at Indy Farm Expo on the HAT Tuesday Morning EditionNext articleDecember WASDE Report Mostly Unchanged Ashley Davenport
Despite series loss, TCU proved they belong against No. 8 Texas Tech Colin Posthttps://www.tcu360.com/author/colin-post/ Colin Posthttps://www.tcu360.com/author/colin-post/ Linkedin Colin Posthttps://www.tcu360.com/author/colin-post/ Colin Post is a Sports Broadcasting and Journalism double-major from Houston, Texas. Along with sports writing, Colin hopes to work in sports announcing after he graduates. + posts Another series win lands TCU Baseball in the top 5, earns Sikes conference award printTCU basketball shot 55 percent from the field as a team and rode a season-high 24 points from guard Desmond Bane to an easy 89-62 victory over Central Michigan Friday.“I was impressed and excited about our play,” said head coach Jamie Dixon.Bane finished with 24 points, nine rebounds, three assists, three blocks and a steal in his best game of the year.Desmond Bane finished with a season-high 24 points, propelling the Horned Frogs to victory. Photo by Cristian ArguetaSoto.“All credits to my teammates,” Bane said. “When everybody’s getting touches, you’re gonna end up feeling good at some point, and tonight just happened to be my mind.”The contest was over from the start, as TCU started off on a 15-5 run led by point guard Alex Robinson Jr. in the first six minutes of play.Robinson had scored or assisted on ten of the points as he orchestrated a Horned Frogs offense that was shooting over 50 percent from the field.The senior out of Fort Worth, who leads the Big 12 in assists, finished the game with 11 points and 12 assists. With Friday’s performance, he moves into 4th all-time in TCU history in assists.Alex Robinson scored 11 points and moved into 4th all-time at TCU with 12 assists against Central Michigan. Photo by Cristian ArguetaSoto.“He’s a great point guard,” Bane said about Robinson. “He’s really good at getting in the lane and finding his teammates.”TCU finished with 29 assists as a team after recording 31 Monday against Eastern Michigan.Bane would take it from there, hustling hard on both ends of the floor. At the end of the first half, he would have 18 points on 7-9 shooting to go with seven rebounds, three blocks and a steal.“We’re getting him better shots,” Dixon said about Bane. “I’m excited about where we’re headed offensively.”Outstanding play from Bane was a huge reason why TCU was shooting 58.8 percent from the floor at the half, giving them a resounding 46-26 lead over the Chippewas.The Horned Frogs would continue to use efficient basketball and stout defense in the second half to cruise to an easy victory. Despite 19 points from guard Larry Austin JR., the Chippewas shot just 33 percent and never got within 16 points in the half.“Coach really emphasized in the practices, you know, we gotta play extra hard defense, and that’s what we came out and did,” said forward JD Miller.While Central Michigan came into the game averaging more than 86 points per game as a team, their 62 points in the game was a season-low.For the second-straight game, guard Jaylen Fisher was on fire from the three-point line. The junior finished with four made threes on 40 percent shooting from deep and 14 total points.Jaylen Fisher finished with four made threes in the win against the Chippewas. Photo by Cristian ArguetaSoto.“We can definitely tell when Fisher is on the floor, cause he spaces the floor out,” Miller said. “That’s just what he does, you know, space the floor out, make open shots. It helps us out.”For a second-straight game, forward Kuoat Noi made his presence known, pouring in 16 points, while Miller recorded a game-high 12 rebounds. TCU out-rebounded Central Michigan 48-31.The win pushes the Horned Frogs to 5-1 on the season and 35-5 against nonconference opponents in the Jamie Dixon era.“You want to make progress, and we certainly have,” Dixon said. “I like where we’re headed.”TCU will go on the road for the first time this season for their next action, as they head across town to play SMU. Tipoff in Dallas is set for December 5 at 9 p.m.“This is going to be a good game, so we’re gonna be ready for them,” Miller said.<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span><span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span> Linkedin Colin Posthttps://www.tcu360.com/author/colin-post/ Another series win lands TCU Baseball in the top 5, earns Sikes conference award Previous articleProfessors hope to make comic books more relevant on campusNext articleWomen’s Basketball wins Maggie Dixon Classic against Army, 63-38 Colin Post RELATED ARTICLESMORE FROM AUTHOR First TCU spring game since 2018 gets fans primed for a highly-anticipated fall Twitter ReddIt Twitter Colin Post Facebook Facebook ReddIt TCU rowing program strengthens after facing COVID-19 setbacks Taylor’s monster slam highlights big weekend for TCU Athletics TCU baseball finds their biggest fan just by saying hello
May 26, 2021 Find out more MyanmarAsia – Pacific RSF_en May 12, 2021 Find out more MyanmarAsia – Pacific Reporters Without Borders (Reporters sans frontières) and the Burma Media Association (BMA) today reiterated their call for the release on medical grounds of detained journalist Win Tin, who will celebrate his 73rd birthday tomorrow (12 March) in Rangoon General hospital, where he has taken for treatment for heart problems three and half months ago.One of the country’s best-known journalists and a member of the opposition National League for Democracy (NLD), Win Tin has spent the last 13 years of his life in prison. Reporters Without Borders and the BMA fear his already fragile health would get worse if he were sent back to prison from hospital, and they therefore hope the Burmese authorities will show some compassion.The two organisations stressed that they oppose any lifting of political or economic sanctions against the Burmese government until all political prisoners are released and press censorship ends.Win Tin was transferred from prison to Rangoon general hospital on 22 November 2002 and since then has been confined to one of the 15-square-metre rooms for political prisoners in the hospital’s basement. A doctor examines him every day and he receives medicines that are appropriate for his condition.A delegation from Amnesty International, making its first ever fact-finding mission to Burma at the military junta’s invitation, visited Win Tin in his hospital room on 5 February. They were able to talk for more than an hour. On its return to Europe, the delegation reported that Win Tin’s morale was excellent and that his state of health was reasonable. He is nonetheless also suffering from urinary problems.The former editor of the newspaper Hanthawadi and vice-president of the Association of Burmese Writers, Win Tin has been detained since 4 July 1989. He has been convicted and sentenced three times to a total of 20 years in prison. One of the convictions was for sending the UN special rapporteur for Burma a report on the conditions of detention and the ill-treatment of inmates in Insein prison. News Receive email alerts March 11, 2003 – Updated on January 20, 2016 Leading journalist Win Tin “celebrates” 73rd birthday in detention Help by sharing this information Organisation RSF asks Germany to let Myanmar journalist Mratt Kyaw Thu apply for asylum News News Thai premier, UN rapporteurs asked to prevent journalists being returned to Myanmar US journalist held in Yangon prison notorious for torture Follow the news on Myanmar News to go further May 31, 2021 Find out more
Servicers Navigate the Post-Pandemic World 2 days ago What kind of technology are Fintechs using in particular to get these mortgages closed quicker?Automation in general, I would say. You’ve already seen some of these companies coming out that help collect documents and databases that have a lot of the information so lenders can limit the amount of work that a borrower has to do. Then, obviously, digital mortgages and eNotes have been a hot topic this decade, and I think going into 2020 and beyond you’ll see that get more and more steam. I think that’s probably the next wave, and definitely provides a lot of value for the customers, especially in the military space. Fintechs Leading the Way for VA Loans Print This Post September 3, 2019 1,519 Views Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago 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. How are VA loans different than conventional loans?I’ll start with the most obvious: no down payment is the biggest difference, and it’s something that, at NewDay, we are championing in what we call Operation Home. The no down payment alone is a huge benefit to somebody that’s served, but the really unique thing that you can leverage is if you are able to structure the contract in the right way, you can actually get them into a home with no money out of pocket. That’s a huge benefit.Unfortunately, what’s happened in government lending, you’ve seen a lot of the big banks step out of the FHA and VA space. FHA has gotten a lot of press in terms of the False Claims Act and then VA is just such a unique product that it almost isn’t worth the time to spend on it, unless you’re an expert. So, unfortunately, a lot of times veterans will get steered out of the VA product even though it’s a really good product for them. From a processing standpoint, the VA has what they call entitlement. Essentially, their service earns entitlement, and as long as they perform well on their mortgage history, they can then continue to reuse that entitlement for future VA loans. There’s no minimum credit score on a VA loan, so the VA gives lenders a lot of flexibility in making good credit decisions, which is good and bad. For the big lenders that have a very defined process, and like to get as many widgets through the factory as possible, it probably isn’t a good fit. But for a company that focuses on veterans like NewDay, it’s something that we really enjoy doing to get in, understand the story, and find a way to say yes. If we feel it’s a good, low-credit risk loan, we approve those types of loans all the time. in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Why do you feel Fintechs are leading the way for VA loans?The military population is much more likely to relocate and have to move multiple times, just by definition of their commitment. And, with each move, comes a level of responsibility to meet contract dates. As we see more and more impressive technology, I think Fintechs help to ensure that veterans and active service people can meet those contract dates. It allows quicker closing times and a smoother transaction. Not that hitting a contract date for a civilian is not important, it’s just a little bit higher stakes in the military space, so being able to leverage technology to improve service is important. Tagged with: FinTech Veterans FinTech Veterans 2019-09-03 Mike Albanese What trends are you seeing in technology that could be utilized in the Fintech process moving forward?Well I’ll start with the VA themselves. They’ve done a great job over the last 10 years, automating a lot of their processes. I mentioned VA entitlement; the VA issues a Certificate of Eligibility on every VA loan, which used to take anywhere from 24 hours to two weeks. Nowadays, about 80% of those come back automatically, just by ordering online with some personal information about the veteran’s time served.That’s been a huge boost in the ability to close VA loans quickly. And I know the VA is working on some other automation processes when it comes to servicing. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Quick Turnarounds for Foreclosure Sales Next: The July Home Price Growth Slowdown About Author: Mike Albanese The Best Markets For Residential Property Investors 2 days ago How has data changed over the past ten years or so, and how has technology has evolved?I think it’s changed leaps and bounds, honestly, and I think there’s still a long way to go. Last year and this year is really the first couple of years that you’ve seen real conversation about eNotes and digital mortgages. Ten years ago that wasn’t anywhere close to being on the radar. There were still a lot of manual processes in mortgage lending. There’s still some of that, but there’s been a lot of elimination of the manual work and I would just expect that trend to continue.I think you’ll see a lot more innovation over the next few years too. Michael Oursler, Chief Credit Officer, NewDay USAThe volume of the amount of loans originated through the Department of Veterans Affairs came to 119,048 loans for $31.9 billion during the first three months of 2019, with the average VA loan coming in at $268,213.The Department of Veterans Affairs reported the overall loan volume for Q2 2019 (fiscal-year Q3) jumped to 155,685 loans for $44.1 billion.Leading the way in the recent surge of VA loans have been Fintechs, which have four of the top-10 originators for VA loans: Veterans United Home Loans, Quicken Loans Inc., LoanDepot, and NewDay USA. What has helped put Fintechs head and shoulders above the competition? Michael Oursler, Chief Credit Officer for NewDay USA, spoke to DS News about why Fintechs are leading the charge, what differentiates a VA loan from a standard loan, and what traditional mortgage lenders can do to close the gap. Share Save Related Articles Home / Daily Dose / Fintechs Leading the Way for VA Loans The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago How can more traditional mortgage lenders keep up, or catch up, to Fintechs?One, I would say it’s going to be tough. I think some of the lenders that are not willing to adapt and make changes may struggle, because they may be at a competitive disadvantage. Whether it’s learning from them, partnering with them, using them as a vendor, I think everyone needs to adapt to the times. With that being said, I do think there is a level of customer service and personal touch that is sacrificed any time you automate something, so if you are going to compete against Fintech and streamlined processes, you have to make up for it with customer services and a personalized borrower experience.And that’s definitely something that we take very seriously. We spent a lot of time with our veteran customers making sure we’re getting to know them.