Pinterest Local NewsBusiness Facebook By Digital AIM Web Support – February 8, 2021 Arundo and Worley Launch New AI Software Company: DataSeer Facebook WhatsApp HOUSTON–(BUSINESS WIRE)–Feb 8, 2021– Arundo Analytics, a software company enabling advanced analytics in heavy industries, has entered into a joint venture agreement with Worley, a leading global provider of professional project and asset services in the energy, chemicals and resources sectors. Integrating industrial engineering with machine learning, the DataSeer software enables end users to extract data and digitize their industrial diagrams seamlessly. “We are excited to see customers impressed with an AI application that solves real problems and increases productivity. Unlike most Industrial AI solutions that require integration and configuration, DataSeer is an out-of-the-box B2C software. We are proud of this product and think the best way to continue its growth is by having a dedicated go-to-market concept. DataSeer will continue to be an important part of the offering from Arundo,” said Wayne Purboo, Executive Chair of Arundo. “DataSeer has revolutionized the way we work with industrial diagrams, enhancing project efficiency. The software enables us to deliver better value to our customers, as we help them along the digital transformation journey,” said Geeta Thakorlal, President of Energy Transition and Digital at Worley. The DataSeer application significantly reduces the time engineers spend on searching through diagrams, while standardizing data into comma-separated valued outputs and improving quality assurance and control. DataSeer aims to transform the way engineers work. For more information on DataSeer, visit www.dataseer.digital or follow us at https://www.linkedin.com/company/dataseerdigital/ on LinkedIn. About Arundo Analytics Arundo is a software and services company that empowers asset-heavy industries to operationalize analytics solutions, quickly. Our mission is to provide practical software products and services that improve the operation of industrial equipment, systems and processes through enterprise-scale machine learning and analytics. For more information, please visit www.arundo.com, or follow Arundo on Twitter @arundoanalytics. About Worley Worley is a global company headquartered in Australia and our purpose is delivering a more sustainable world. Worley is a leading global provider of professional project and asset services in the energy, chemicals and resources sectors. As a knowledge-based service provider, we use our knowledge and capabilities to support our customers to reduce their emissions and move towards a low carbon future. View source version on businesswire.com:https://www.businesswire.com/news/home/20210208005530/en/ Cody Falcon,[email protected] KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ENGINEERING DATA MANAGEMENT TECHNOLOGY MANUFACTURING SOFTWARE INTERNET SOURCE: DataSeer Copyright Business Wire 2021. PUB: 02/08/2021 09:51 AM/DISC: 02/08/2021 09:51 AM http://www.businesswire.com/news/home/20210208005530/en Previous articleDjokovic: “makes my heart full” to see Aussie Open crowdNext articleGlobal Respiratory Disease Testing Market Growth, Trends, and Forecasts Report 2020-2025 – ResearchAndMarkets.com Digital AIM Web Support WhatsApp Pinterest Twitter TAGS Twitter
Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Mortgage Forbearance Urban Institute The Best Markets For Residential Property Investors 2 days ago Mortgage Forbearance Urban Institute 2020-08-19 Christina Hughes Babb Print This Post Share Save Related Articles About Author: Christina Hughes Babb 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. Home / Daily Dose / Mortgage Forbearance Pandemic Trends—Six Things to Know The mortgage forbearance option in the March 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act offered relief to millions of homeowners during the COVID-19 pandemic. The 33.4 million with federally backed mortgages can request from their servicers a forbearance plan (with far less documentation of financial hardship than is usually required) allowing them to delay their mortgage payments for up to 180 days, with another 180-day extension available after the first forbearance period ends. As previously reported, some 14.6 million borrowers whose mortgages are in bank portfolios or private-label securities (PLS) are not covered by the CARES Act, but these borrowers have the highest share of loans in forbearance. A survey of PLS servicers conducted by the Structured Finance Association found each servicer was offering initial forbearance requests with minimal documentation requirements and without burdensome repayment plans, such as lump-sum payments, immediately following forbearance expiration, reports Jung Hyun Choi, Research Fellow at the Urban Institute. Upon collecting data from the Mortgage Bankers Association (MBA), Black Knight, and the US Census Bureau, Choi published six important facts about mortgage forbearance, adding that if policymakers are to better understand how to support all homeowners during this crisis, more data is essential. The facts, as she reported them, are as follows: 1. MBA data showed 7.44% of mortgages in forbearance. The share of loans in forbearance was the highest for loans in PLS and portfolio loans (10.12%), followed by Ginnie Mae loans (10.06%) and government-sponsored enterprise loans (5.19%). 2. The rates have dropped since June. Early last month, the share of loans in forbearance was 8.6% according to MBA’s survey of servicers and 8.9% according to Black Knight’s loan-level data. The share has dropped continuously since June as some homeowners in 90-day forbearance plans have come out of their plans without asking for an extension. Black Knight’s loan delinquency rates, which include loans in forbearance and not in forbearance, show a slight drop in the 30-day delinquency rate, from 7.8% in May to 7.6% in June. 3. Minority homeowners have been hit hardest. The US Census Bureau’s Household Pulse Survey reveals large differences by race and ethnicity, with Black and Hispanic households significantly more likely to miss or defer monthly mortgage payments and experience uncertainty about making next month’s payment than white households. According to the most recent survey, conducted from July 16 to 21, nearly 21% of both Black and Hispanic homeowners missed or deferred the previous month’s mortgage payment, compared with 10% of white homeowners and about 13% of all homeowners with payments due. This gap persisted over the duration of all survey weeks, as Black and Hispanic homeowners continue to be disproportionately burdened by the pandemic’s impact on employment and financial stability. 4. Homeowners are worried. As federal unemployment insurance payments established by the CARES Act were set to expire at the end of July, the share of households expressing “no confidence” in their ability to make their August mortgage payment reached almost 6%, its highest since the Household Pulse Survey began. That 6% includes 16% of Hispanic households and 8% of Black households but just 3 percent of white households. 5. More than 1 million households in forbearance are still paying their mortgage. Both MBA and Black Knight (PDF) show that about a quarter of households in active forbearance plans are still making their mortgage payments. We don’t know much about these households, including why they are still paying their mortgages despite their forbearance status, but more information could help policymakers. 6. More than 700,000 went delinquent despite forbearance options. Of greater concern, 530,000 homeowners who became delinquent after the pandemic began did not take advantage of forbearance, despite being eligible to ask for the plan. According to a recent National Housing Resource Center survey (PDF) of housing counselors, the two most common reasons are as follows: 1. Fear of making a lump-sum payment at the end of the period (69.9%) 2. Not knowing about the program (56.6%) These responses reflect a need to provide better information to all homeowners. (Lump-sum payment is not the only repayment option.) Although these survey results are valuable, they don’t reveal who these people are, which makes it difficult to develop outreach strategies. Additionally, 205,000 homeowners who did not extend their forbearance after its term ended in June or July became delinquent on their loans. We need to examine who these people are and why are they not extending their option. Choi goes on to add details about the need for more data, and includes graphic information related to the above numbers. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: ‘Clouds on the Horizon’ for Mortgage Delinquencies Next: FHA to Extend Foreclosure & Eviction Ban August 19, 2020 2,567 Views Mortgage Forbearance Pandemic Trends—Six Things to Know Sign up for DS News Daily Subscribe
Yesterday, Dell Technologies SVP of Corporate Real Estate and Global Facilities, Mark Pringle, was invited to testify before the United States Senate Committee on Environment & Public Works to discuss flexible workspace strategies and the ways the federal government might integrate these strategies. Joining him in testimony were Kate Lister, President, Global Workplace Analytics, and Dr. Michael Benjamin, Chief of Air Quality Planning and Science division of the California Air Resources Board.Chairman John Barrasso and Ranking Member Thomas Carper were present in the Senate hearing room, along with Senator Joni Ernst from Iowa. Other members joined the meeting from their respective offices via teleconference, as well as everyone invited to testify. In many ways, it was a perfect example of how meetings and collaborative conversations can – and do – happen over the internet every day, even more so now that we are responding to the pandemic by allowing for more remote work solutions in both the private and the public sectors.Read more on the hearing below, and see an update at the end of this blog on Dell Technologies’ expanded Connected Workplace 2.0.How Private Sector Learnings Can Inform the Public Sector’s Future Chairman Barrasso opened the hearing by noting that the pandemic has upended Americans’ way of life, including how they work. He stated that small and large businesses have faced devastating hits and are looking to reduce expenses. He shared that one in five CFOs plan to keep at least 20% of their workforce working remotely after the pandemic ends, in order to reduce costs, and suggested that the government should follow the private sector’s lead in trying to cut costs.Ranking Member Carper noted that millions of Americans have shifted to telework, which has given the federal government an opportunity to examine the effectiveness of remote working. He expressed interest in the use of private space, such as people’s homes. He said that the federal government uses more than 350,000 buildings, and expressed interest in how building space can be used more efficiently and how the federal government’s carbon footprint can be reduced.During his testimony, Mark focused on the implications a flexible workplace approach might have on the need for physical office spaces and how Dell has approached these strategies. The hearing overall provided real insight into how organizations and government agencies are adjusting to COVID-19, especially in terms of supporting a connected workforce, and how we can look beyond the short term as we shift to a more flexible, connected environment.Empowering a Connected WorkplaceBeginning in 2009, Dell Technologies established our Connected Workplace program as a strategic component of our company’s culture and operations. In his testimony Mark stated, “Connected Workplace allows our employees to choose the work style that best fulfills their needs on the job and in life in a highly mobile, collaborative, and flexible work setting. The program has positively impacted our business, our approach to talent acquisition and our environmental footprint. But more than just a policy, this program is about a change in how we think about work – where work is not anchored to one place and time and instead is focused on outcomes. Earlier this year, before the onset of COVID-19, we had approximately 65% of Dell Technologies team members leveraging work flexibility in their jobs (meaning in the office just a couple of days a week) and 30% of our team members working remotely on any given day.”Ms. Lister remarked on the rapid adoption that we have seen over the past few months, noting that “the pandemic didn’t start the telework trend, but it is going to accelerate it.” She went on to comment that “we need to break loose of the 20th Century framework that keeps us tethered to the concept of work as place, rather than what we do. Employees are already mobile…and we need to support a 21st Century workforce.” She indicated that leaders who have been intentional about it have already transformed the workplaces into more flexible spaces that support a mobile, hybrid, collaborative workplace.Mark shared that Dell Technologies Connected Workplace “has been encouraging team members to design their ideal working arrangements, including remote work, flexible hours and job sharing. It also involves supporting flex workers’ needs through enhanced technology infrastructure, training opportunities and an employee resource group.”Near Overnight Scaling for COVID-19 Mark pointed out that while Dell Technologies has had 65% of our team members working flexibly, the onset of COVID-19 required that we convert, nearly overnight, 90% of our employees to “work from home” status. Our first priority, he stated, “was to assure the health and well-being of our teams, partners, and the customers that we serve. Our second step was to bring a task force together to help us quickly enable our large, globally diverse workforce to effectively work remotely while scaling our infrastructure to help ensure business continuity and availability. At the same time, we continue to help our customers through their digital implementation to enable our customers’ employees to be an effective remote workforce.”Future StrategyMark concluded, “At Dell Technologies, our hope is to be a leader in workplace flexibility with more team members in flexible work arrangements or working from home long term. What we have learned is proximity to a specific location will not be a priority post-COVID-19. We are taking a team member-centric approach informed by data to how we bring select team members back to site. In addition to our multiple sites here in the United States, Dell Technologies also operates in multiple locations across the globe. “As a company, we are actively exploring how to not only increase our total work force productivity, but also enhancing the team member work experience that gives them options to adapt their work in ways that reflect their circumstances, but also keeps them engaged and connected to the company. We don’t have all the answers yet, but we find ourselves open to concepts that we just would not have seen a feasible at the beginning of this year. COVID-19 has exacted a devastating public health and economic toll on our country. One of the best ways to recover from both catastrophes is to reimagine work in ways that genuinely improve the quality of life for our nation’s work force. We look forward to that journey.”The witnesses were asked about the fiscal benefits of reducing office space, and what productivity tradeoffs, if any, might result. Mark pointed out that at Dell Technologies we have experienced higher employee satisfaction as a result of our Connected Workplace initiative, without any loss of productivity. He agreed, however, that there is a need to bridge the digital divide. He said there are questions about how bandwidth can be shared in a secure way, as well as tackling prioritization of bandwidth in a home environment where there are competing demands for work, school, streaming media, and so forth. He said 5G will allow for fixed wireless access points, and stressed the need for government investment in 5G and WiFi 6E.You can watch a replay of the full hearing here.Introducing Connected Workplace 2.0Beginning today, we expanded our Connected Workplace to all countries where we have team members and are empowering them with the ability to choose the work style that best fits them. Any team member who can be successful working in their role remotely can choose to enroll in the program and, upon manager approval, can work in a flexible capacity indefinitely. Once our sites reopen, team members working flexibly can still come into the office for face-to-face meetings and to collaborate with their teams in person. This is not a departure from the way we’ve been working over the past decade. It’s simply an expansion to allow more team members to work in the way that they feel best fits their needs and lifestyle.We trust our team members and we want them to feel empowered. We know they’ll continue to innovate and collaborate just as they always have. But we do know there are still issues we have to address. For example, preventing burnout in a world where timeframe boundaries are blurred and where working parents are also home schooling, and prioritizing mental health as people deal with stress and anxiety. And there are some issues that need to be addressed more broadly when deploying a remote workforce. While we don’t have all the answers today, we know that we have a strong foundation to build on.As a company that has built flexibility into our culture for the last decade, we continue to see flexible culture combined with the right technology infrastructure unleash innovation, life/work balance for our people, our future talent and shrink our environmental footprint. There is no going back. Today it’s really about life/work balance, and we’re excited to continue empowering our employees with the choice and flexibility they need to succeed in both life and work.