Denmark opens licensing window for land-based casinos

first_img The Danish Gaming Authority (Spillemyndigheden) has opened a window in which it will accept applications for land-based casino licences in the jurisdiction, until 29 January 2021. Tags: Spillemyndigheden Danish Gambling Authority Denmark opens licensing window for land-based casinos Particular importance will be offered to these considerations, including whether the applicant has both the necessary experience in operating land-based gaming and the required financial liquidity to cover the expenses of operating. Land-based casino 29th October 2020 | By Conor Mulheir Sports betting revenue, in a period that saw sporting events suspended from mid-March to late May, was down 19.6% to DKK1.01bn. In order to approve licence applications, the Spillemyndigheden will consider whether the casino will be operated in a fully professional and financially sound manner. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Of 18 European markets assessed, only Sweden saw a higher percentage of online play, at 59%, than Denmark, where online accounted for 53.1% of revenues in 2019. Applications for casinos on board Danish ships in regular service will also be accepted during this period.Licence applications will be considered by local municipalities, police directors, the Ministry of Taxation, Ministry of Business, and the Danish Maritime Authority, where relevant.center_img However, Spillemyndigheden then revealed that average gaming participation dropped for that year, the first time average consumption among Danes aged 18 and over had declined since the igaming market opened in 2012. Revenues for the six months to 30 June fell to DKK2.70bn (£327.0m/€362.6m/$429.4m), with the biggest declines suffered by Danske Spil’s land-based casinos and gaming machines. The contribution from casinos was more than halved to DKK82m, while gaming machines revenue fell 46.6% to DKK382m. Regions: Nordics Denmark Results released in August showed that Denmark’s regulated gambling revenue fell 19.2% year-on-year in the first half of 2020, after the novel coronavirus (Covid-19) pandemic, which had a significant negative impact on the land-based and sports betting sectors. Topics: Casino & games Casino regulation Land-based casino Subscribe to the iGaming newsletter Figures released by the regulator this week showed that Denmark has the second-highest rate of participation in online gambling in Europe, and is one of just three jurisdictions where over 50% of GGR comes from online channels. Email Address Permission to operate land-based casinos is granted for up to 10 years at a time. Denmark currently has 8 active licences for land-based casinos, including two on board ferries. A further permit has been issued for a land-based casino in Copenhagen, which is expected to open at the end of 2020.last_img read more

Capital Hotels Plc ( Q12016 Interim Report

first_imgCapital Hotels Plc ( listed on the Nigerian Stock Exchange under the Tourism sector has released it’s 2016 interim results for the first quarter.For more information about Capital Hotels Plc ( reports, abridged reports, interim earnings results and earnings presentations, visit the Capital Hotels Plc ( company page on AfricanFinancials.Document: Capital Hotels Plc (  2016 interim results for the first quarter.Company ProfileCapital Hotels Plc owns and operates the Sheraton Abuja Hotel in Nigeria which includes quality accommodation, restaurants, apartments for letting, recreational facilities, a night club and a business/conference centre. The Sheraton Abuja Hotel opened in 1990 and has gained international repute as a premier hotel operation in Abuja in Nigeria. The hotel is geared for tourists and business people offering a wide range of facilities and services. The Sheraton Abuja Hotel boasts quality air-conditioned accommodation, a selection of excellent restaurants, an outdoor pool, tennis court and fitness centre, a business lounge, conference and meeting facilities, banquet halls and a popular night club. Capital Hotels Plc operates out of the hotel in Abuja, Nigeria. Capital Hotels Plc is listed on the Nigerian Stock Exchangelast_img read more

Ariston Holdings Limited ( 2017 Annual Report

first_imgAriston Holdings Limited ( listed on the Zimbabwe Stock Exchange under the Agricultural sector has released it’s 2017 annual report.For more information about Ariston Holdings Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Ariston Holdings Limited ( company page on AfricanFinancials.Document: Ariston Holdings Limited (  2017 annual report.Company ProfileAriston Holdings Limited is an agricultural enterprise operating in diverse markets that range from tea, macadamia nuts, horticulture and deciduous fruits to fish farming, beef cattle and poultry. Deciduous fruits include bananas, apples and peaches; while staple crops include potatoes, tomatoes, peas, maize and soya beans. Ariston Holdings Limited has a national footprint, with six strategic business units located in the northern and eastern regions of Zimbabwe. Southdown Estates consists of three tea estates with over 1 200 hectares allocated to tea plants, almost 60 hectares to bananas and over 450 hectares to macadamia trees. Claremont Estate concentrates on growing pome and stone fruit, passion fruit and potatoes; while Kent Estate focuses on horticultural crops, poultry and livestock. The company also packages and distributes blended tea for the domestic market. Its headquarters are in Msasa, Harare. Ariston Holdings Limited is listed on the Zimbabwe Stock Exchangelast_img read more

S Residence / Matra Architects & Rurban Planners

first_imgCopyAbout this officeMatra Architects & Rurban PlannersOfficeFollow#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesHousesDelhiIndiaPublished on July 21, 2010Cite: “S Residence / Matra Architects & Rurban Planners” 21 Jul 2010. ArchDaily. Accessed 12 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogPanels / Prefabricated AssembliesTechnowoodGRP Siding Façade SystemGlassMitrexSolar PanelsMetal PanelsAurubisCopper Alloy: Nordic BrassWoodParklex International S.L.Wood cladding – FacadeSignage / Display SystemsGoppionDisplay Case – Qd-ClassSkylightsLAMILUXGlass Skylight FE PassivhausStonesCosentinoDekton Surfaces – Cap Ferrat BuildingStonesNeolithSintered Stone – Strata Argentum – Classtone CollectionAcousticSchöckStaircase Insulation – Tronsole®CeramicsTerrealCustom Shape Terracotta CladdingSeatingInterstuhlPillows – HUBPartitionsBuzzispacePrivacy Booth – BuzziRingMore products »Read commentsSave想阅读文章的中文版本吗?S Residence / Matra Architects & Rurban Planners是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Projects S Residence / Matra Architects & Rurban Planners Year:  2009 “COPY” S Residence / Matra Architects & Rurban PlannersSave this projectSaveS Residence / Matra Architects & Rurban Planners India Houses ArchDaily Architects: Matra Architects & Rurban Planners Year Completion year of this architecture project ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Save this picture!+ 18 Share ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Text description provided by the architects. Usually building a house in a non-urban environment, free from site limitations and outdated urban regulations, is today an opportunity for a designer – to explore invaluable and diverse design issues emerging out of a global concern for a sustainable development. Save this picture!In response to this very important challenge, traditional design devices are being reintroduced and applied along with technologically advanced innovations. One very popular but reasonably arguable design tool among clients is Vastu Shastra – a set of ancient Indian planning directives and principles. In this residence too, it defines the orientation and location of nearly all activities. Save this picture!A series of parallel walls aligned along the east-west axis, create different sized, well lit spaces. As per their orientation and edge treatments, various passive and active climate controls have been created – landscaped courts, deeply recessed glass facades and balconies, motorized blinds etc., react and cater to the extreme winter and summer conditions prevalent in New Delhi. Save this picture!Large roof projections, rarely applicable in a plotted development, further reduce the impact of sun and rain on the building envelope, resulting in long term benefits on the maintenance and life of the building components. Formal-informal and public-private spaces, as well as the kitchen, storage and wet areas are organized into a climatic & service efficient plan, without compromising on Vastu Shastra principles or the demand for modifications as desired by the client in the future. Save this picture!An ambitious construction time of one year and the concern for a lightweight building determined the application of an industrial process to create the structure – lightweight steel frames, composite slabs of steel and concrete, insulated drywall and glazing systems, prefabricated coated fabric panels as well as an insulated alloy roof. These are carefully dove-tailed with low-tech, environment-friendly and energy-efficient tools, such as geothermal HVAC systems, solar panels, age-old methods of rainwater harvesting and affluent treatments to minimize the wastage of water. Save this picture!The building attempts to redefine luxury, comfort and style in residential architecture. It has been a pro-active exploration of ideas amongst the people involved and today it stands as a building that can be dismantled, reconstructed and easily be recycled.Save this picture!Project gallerySee allShow lessThe Shingle House / NORD Architecture / Living ArchitectureArticlesFishman Shade Canopy / Benjamin Hall + Brent Vander WerfArticles Share “COPY” CopyHouses•Delhi, Indialast_img read more

House in Abiko / fuse-atelier

first_img Japan Photographs:  Shigeru FuseText description provided by the architects. This project is a residence for a couple in their thirties, built in Abiko City. The client desired a gallery-like concrete-made space where their pleasure of designed furniture stands out. Save this picture!© Shigeru FuseRecommended ProductsDoorsLonghiDoor – HeadlineWindowsJansenWindows – Janisol PrimoWindowspanoramah!®ah!38 – FlexibilityWoodEGGERWood-based materials in EGGER HeadquartersThe location is at the bottom of two plateaus on a soft foundation. Therefore, stakes were necessary to support a reinforced concrete structure. In order to reduce costs, contacting area to the ground was minimized and the number of stakes was reduced. Accordingly, the upper structure was cantilevered. Then, the walls in varying volumes and the roof slab were made into three-dimensional continuous slanted surface and the stress transmission was rationalized, which became a characteristic form. Save this picture!© Shigeru FuseLiving/dining room on the second floor has a large open composition towards the green way so as to take in the trees planted on the south side of the site to the interior space. The haircutting space was raised for 1.2 meters from the second floor, so that people will look at the south side green way and the upper side green way and the upper side of the parking on the north side. It also controls the eyesight from the surroundings. The interior space was given a modulated proportion and scale that respond to each space’s activities. Save this picture!© Shigeru FuseThe monocoque form made of concrete was inflated and squeezed, following the necessary spatial volume at the living room, cutting space and the wet area. The stiff structure enabled a sash-less detail of glass and the exterior wall aligned in the same surface and realizes the exterior that emphasizes various facets. Save this picture!© Shigeru FuseThe residence creates many senses of distance by the form that pursued the relationship of spaces and a rationality of the structure. Moreover, by the angles of the multi-surface composition the space is divided, though connected, and creates various sequences that are accompanied by sensual natural light’s reflection and refraction.Save this picture!© Shigeru FuseProject gallerySee allShow lessHotel Liesma Proposal / BNKR ArquitecturaArticles“Janko Gredelj” Area Mixed Use Design / Hrvoje SedlićArticles Share Architects: fuse-atelier Area Area of this architecture project ArchDaily 2011 CopyAbout this officefuse-atelierOfficeFollowProductsGlassConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesHousesJapanPublished on December 21, 2011Cite: “House in Abiko / fuse-atelier” 21 Dec 2011. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogSinkshansgroheBathroom Mixers – Metropol ClassicVinyl Walls3MVinyl Finish – DI-NOC™ StonePartitionsSkyfoldVertically Folding Operable Walls – Zenith® SeriesPanels / Prefabricated AssembliesProdemaProdEx Wood Facade in the Aspen Art MuseumSealantsSikaRenovation of Zeitz MuseumSinksBradley Corporation USAVerge Coordinated Soap Dispenser and Faucet SetsWoodLunawoodThermo Timber and Industrial ThermowoodAcousticFabriTRAK®FabriFELT™ for Walls and CeilingsGlassDip-TechDigital Ceramic Etch PrintingWindowspanoramah!®ah! Ultra MinimalistEngineered Wood FlooringAustralian Sustainable Hardwoods (ASH)Australian Oak Engineered FlooringLouvers / ShuttersConstruction SpecialtiesSunshades – Airfoil LuxMore products »Read commentsSave想阅读文章的中文版本吗?我孙子市主住宅 / fuse-atelier是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream “COPY” ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Photographs House in Abiko / fuse-atelier CopyHouses•Japan ShareFacebookTwitterPinterestWhatsappMailOr Clipboard “COPY” Year:  House in Abiko / fuse-atelierSave this projectSaveHouse in Abiko / fuse-atelier Save this picture!© Shigeru Fuse+ 32 Share Projects Houses Area:  48 m² Year Completion year of this architecture project last_img read more

United Kingdom

first_img United KingdomEurope – Central Asia News – Government information site Organisation LINKS: News RSF_en United KingdomEurope – Central Asia Help by sharing this information – ISP Association UK News News June 19, 2003 – Updated on January 20, 2016 United Kingdomcenter_img to go further RSF condemns BBC broadcast ban as example of Chinese government reprisal Follow the news on United Kingdom Safety of journalists remains active concern in Northern Ireland as BBC Panorama team is threatened March 23, 2021 Find out more The government pushed through measures to monitor the Internet in the wake of the 11 September attacks. The Terrorism Act passed in December 2001 extended the period of obligatory traffic log data retention by ISPs to at least a year. The home office (interior ministry) also said it would monitor online financial transactions and private e-mail messages. The new law said police no longer had to get prior court permission to act, but simply approval from the home secretary or a senior ministry official. This caused a big row and some ISPs said they might move their servers out of the country.In June 2002, home secretary David Blunkett proposed amending a controversial law passed in June 2000, the “RIP Act” (Regulation of Investigatory Powers Act), that allowed monitoring of all Internet activity by the secret services as a means to fight cybercrime. Blunkett now proposed to allow local authorities (tax and social security offices and municipal services, for example) to access details of people’s Internet activity, including e-mail they sent and received. This caused such uproar in the media and among civil liberties groups that the government dropped the measure two weeks later.The independent Information Commissioner, Elizabeth France (responsible for seeing that the government, official bodies and the secret services respected citizens’ rights to data privacy), savaged the proposal in an August 2002 report. She said data retention and the proposed amendment of the RIP Act would seriously undermine basic freedoms and reduce guarantees of privacy and that some aspects of the proposed law would be illegal. Solidarity with Swedish media outlet Realtid ahead of UK defamation case hearing February 12, 2021 Find out more – Cyber-Rights & Cyber-Liberties Receive email alerts February 11, 2021 Find out morelast_img read more

Judge drops case against staff of Voice of the People

first_img Zimbabwean journalist Hopewell Chin’ono denied bail ZimbabweAfrica Zimbabwean court must free imprisoned journalist who is unwell November 27, 2020 Find out more ZimbabweAfrica News September 25, 2006 – Updated on January 20, 2016 Judge drops case against staff of Voice of the People News Help by sharing this information September 1, 2020 Find out more RSF_en The judge hearing the case, William Bhila, president of the Harare court, decided to reject the prosecution’s third request for an adjournment. “This has become a circus”, he said before announcing charges would be dropped against the radio’s ten defendants.VOP board members Arnold Tsunga, Millie Phiri, Isabella Matambanadzo, David Masunda, Nhlanhla Ngwenya, Lawrence Chibwe and John Masuku, had been arrested in January 2006 on the pretext that they “possessed and used transmission equipment without permission”. Radio staffers Maria Nyanyiwa, Takunda Chigwanda and Nyasha Bosha had been held for four days in December 2005 after police searched the radio studios in the centre of the capital. They were all released on bail.The radio puts out short wave programmes in Shona and Ndebele, the country’s two main languages, between 7pm and 8pm, using the transmitter of the Dutch public radio, Radio Netherlands, in Madagascar. The radio had to abandon broadcasts from Zimbabwe after its offices in Milton Park, Harare were destroyed in a bomb attack on 29 August 2002, for which no-one has ever been brought to justice.The radio resumed broadcasting soon afterwards from abroad. Between 18 September and 26 October 2005, Zimbabwean intelligence, with the help of Chinese technicians, jammed VOP programmes. The jamming only stopped when the radio changed its broadcast frequency.————-23.12.2006 – Radio station director freed on bailThe director of the privately-owned Voice of the People radio station, John Masuku, who was arrested on 19 December, was freed today on bail of 4 million Zimbabwean dollars (40 euros) but will have to report to the police every week. He is due to appear before the Harare high court on 13 January on a charge of owning and using broadcast equipment without a licence from the Broadcasting Authority of Zimbabwe (BAZ).______________________________________________________________________________________19-12-2005 Station manager of Voice of the People arrested, his three journalists releasedThree journalists on privately-owned Voice of the People radio, arrested on 15 December 2005, were released on 19 December, after being detained for more than three days at Harare central police station. Maria Nyanyiwa, Takunda Gwanda and Nyasha Bosha were all released without charge.Their lawyer, Jacob Mafume, said his clients were freed after police admitted that they were really looking for the radio’s proprietors. A few hours later, the station manager, John Masuku, was arrested. It was not yet known what charges he faced.The three journalists had been arrested when police raided the station on 15 December. Saying that the station was not permitted to broadcast without a licence from the Broadcasting Authority of Zimbabwe (BAZ), police seized the station’s computers and arrested the three journalists present at the time.______________________________________________________________________________________16-12-2005 Police raid the Voice of the People radio station, arresting three of its journalistsReporters Without Borders said today it was appalled by a police raid on the privately-owned radio station Voice of the People (VOP) in Harare yesterday in which equipment was seized and three of its journalists were arrested.“Robert Mugabe’s government is cracking down harder on dissenting news media and, in the face of an economic and political crisis, is behaving in an increasingly despotic manner,” the press freedom organisation said. “After managing to resolve an impasse in the food insecurity situation, the United Nations should take the issue of civil and political liberties seriously and, right now, should at the very least insist on VOP being allowed to resume broadcasting freely and should demand the immediate release of its three journalists,” Reporters Without Borders added.Armed state security agents raided the VOP office in Beverley Court Building in Harare at around 6 p.m. yesterday saying they were looking for broadcasting equipment and claiming that VOP, which has been legally registered as a Communication Trust since its creation in 2000, was not allowed to broadcast without a licence from the Broadcasting Authority of Zimbabwe (BAZ).Failing to find any broadcasting equipment, the police confiscated the radio station’s computers and arrested the three journalists present, Maria Nyanyiwa, Takunda Gwanda and Nyasha Bosha, who were taken to the Harare central police station. It is not know what they were charged with.VOP’s programmes in shona and ndebele, Zimbabwe’s two main languages, are broadcast on the short wave from 7 to 8 p.m. from a transmitter in Madagascar operated by the Dutch public radio station, Radio Netherlands. VOP had to stop broadcasting from Zimbabwe after its studio in Milton Park in Harare were destroyed in an August 2002 explosion that was never solved by the police.With the help of Chinese technicians, the Zimbabwean intelligence services jammed VOP’s broadcasts from 18 to 26 October of this year. The jamming stopped after VOP switched to a different frequency.The raid on VOP comes soon after the government drew up a list of leading government critics, including politicians, human rights activists, lawyers and journalists, who are banned from leaving or entering Zimbabwe. Customs officials have been ordered to seize their passports. Press proprietor Trevor Ncube, for example, had his passport seized on arrival at Bulawayo airport in the south of the country on 9 November. A resident in South Africa, Ncube immediately filed a complaint before the Harare high court, which ruled in his favour yesterday, saying the “invalidation or withdrawal or cancellation of the applicant’s passport is unlawful, null, void and of no force and effect.” Follow the news on Zimbabwe The 2020 pandemic has challenged press freedom in Africa to go further Reports News Organisation Receive email alerts November 12, 2020 Find out more Reporters Without Borders welcomed the decision of a judge in Zimbabwe to drop charges against the management of the privately-owned radio Voice of the People (VOP).The 25 September 2006 decision highlights how the government has been hounding one of the two last independent radios in the country, the worldwide press freedom organisation said.last_img read more

Oregon Suspect in $188,000 Theft Still at Large and May Be in Pasadena

first_img Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday ShareShareTweetSharePin it faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Make a comment Subscribe 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. Herbeauty10 Special Beauty Tips That Make Indian Women So BeautifulHerbeautyHerbeautyHerbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeautyInstall These Measures To Keep Your Household Safe From Covid19HerbeautyHerbeautyHerbeautyZac Efron Is Dating A New Hottie?HerbeautyHerbeautyHerbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeautyHerbeautyThese Are 15 Great Style Tips From Asian WomenHerbeautyHerbeauty 51 year-old Jesse Cletis Walker (Klamath County Sheriff’s Office)Police are continuing their search for a Klamath Falls, Oregon man who allegedly stole about $188,000 in cash from his landlady earlier this month. Authorities suspect Walker may be hiding near Pasadena, a report in the Klamath Falls news outlet Herald And News said Monday.Klamath County Sheriff Chris Kaber said Monday his office has yet to locate Jesse Cletis Walker, 51, and is seeking the public’s help in tracking him down, the report said.The suspect allegedly stole the cash from the victim’s home while she was out of town between June 1 and 3, the report said. A friend of Walker’s drove him to Medford June 5 and later told police Walker had been acting unusual.Walker is described as a five feet 10 inches tall, 195 pounds, with red hair and hazel eyes.Anyone with information about the suspect’s location is advised to call the Pasadena Police Department at (626) 744-4241 or the Klamath County Sheriff’s Office at (541) 883-5130. Top of the News First Heatwave Expected Next Week Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenacenter_img Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Community News Community News Business News Police, Fire & The Courts Oregon Suspect in $188,000 Theft Still at Large and May Be in Pasadena Published on Wednesday, June 13, 2018 | 5:48 pm Name (required)  Mail (required) (not be published)  Website  More Cool Stuff EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Your email address will not be published. Required fields are marked *last_img read more

Former Housing Commissioner Picked to Succeed Montgomery

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Share Save Former Housing Commissioner Picked to Succeed Montgomery President Donald Trump announced Thursday his intent to nominate Dana T. Wade as the Assistant Secretary, for the Federal Housing Commissioner. Wade was previously the acting Federal Housing Commissioner and Assistant Secretary for Housing from July 2017 to June 2018. She supervised more than 2,400 employees and implemented risk management and monitoring of the Federal Housing Agency’s $1.3 trillion portfolio.She also served as a Program Associate Director for General Government at the Office of Management and Budget from December 2018 to December 2019, where she led budget oversight for six Executive Branch agencies with a focus on financial services, including the Department of Housing and Urban Development (HUD). “Dana Wade is a spectacular individual who has been enormously valuable to President Trump and this Department,” said Dr. Benjamin Carson, Secretary of HUD. “We appreciate Brian Montgomery’s continued stable leadership and are elated with Dana’s nomination. We look forward to Dana’s very capable, guiding hand at FHA and urge the Senate to swiftly confirm her.””Dana is ideally suited to succeed Commissioner Montgomery as head of FHA and I applaud the nomination,” said Ed Delgado, President and CEO and Five Star Global. “Brian Montgomery, now positioned for HUD’s Deputy Secretary, possesses a strong grasp of the issues impacting American homeownership and will continue to lead with an abiding commitment to public service; I look forward to their future accomplishments at HUD.”Wade also has been Deputy Staff Director for the United States Senate Committee on Banking, HUD, and the Republican Deputy Staff Director for the United States Senate Committee on Appropriations under Senator Richard Shelby (R-Alabama). “FHA is going through a substantial and much-needed transformation under Commissioner Montgomery. The priorities for FHA include massive IT modernization, rulemaking on the origination and servicing side of the forward and reverse mortgage programs, improvements in risk management, and interagency alignment on a host of issues,” said Tim Rood, Chairman and Founder of The Collingwood Group, a SitusAMC company. “President Trump’s choice to nominate Dana Wade for Assistant Secretary for HUD & FHA Commissioner is well deserved and well-timed. Wade has held positions at the Office of Management & Budget, Congress, and Appropriations that will be very beneficial as the FHA implements it’s aggressive transformation initiatives.”Lindsey Johnson, President of the U.S. Mortgage Insurers (USMI), said her organization “applauds” the nomination of Wade.”Wade is a respected expert with broad experience in financial and housing policy issues. Her previous work, including her time as Acting Federal Housing Commissioner and Assistant Secretary for Housing, will allow her to swiftly start to address the important issues facing the housing finance system,” Johnson said. “We look forward to working closely with Dana Wade in seeking ways to establish a more complementary, collaborative, and consistent housing finance system that prudently enables homeownership for American families while also protecting taxpayers.”The current Federal Housing Commissioner, Brian Montgomery, was nominated by Trump last year as the new Deputy Secretary of HUD. The U.S. Senate Committee on Banking approved the nomination of Montgomery in December. Montgomery was approved by a final vote of 20-5. He has yet to be approved by Senate. He has served as HUD’s Assistant Secretary and managed the day-to-day operations of the agency and assist the Secretary in leading the department’s nearly 8,000 employees. He is also the Commissioner of the Federal Housing Agency.  The Best Markets For Residential Property Investors 2 days ago February 20, 2020 6,197 Views Previous: The Industry Pulse: Stern & Eisenberg Adds New Attorney Next: Built-For-Rent Volumes Decline Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 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. The Best Markets For Residential Property Investors 2 days ago Subscribecenter_img Tagged with: Donald Trump federal housing commissioner White House Demand Propels Home Prices Upward 2 days ago Donald Trump federal housing commissioner White House 2020-02-20 Mike Albanese Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Home / Daily Dose / Former Housing Commissioner Picked to Succeed Montgomery The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Mortgage Forbearance Pandemic Trends—Six Things to Know

first_img 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,, 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.  center_img 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 Subscribelast_img read more