Lagardere Sports signs Italian golfer Edoardo Molinari

first_img Lagardere Sports signs Italian golfer Edoardo Molinari ICC WTC Final: 10 years of Virat Kohli’s Test career, 10 best moments of India’s greatest Test skipper By Kunal Dhyani – December 7, 2017 Cricket Cricket Cricket Latest Sports NewsSports BusinessNewsSportSportstars Facebook Twitter Latest Sports News India Tour of Sri Lanka: From books to gym, Sanju Samson shares story of his quarantine life Happy Father’s Day: Nostalgic Sachin Tendulkar shares a special item that belonged to his father; Check video Football RELATED ARTICLESMORE FROM AUTHOR YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsored WI vs SA 2nd Test Day 2 Stumps: West Indies bowled out for 149 runs in 1st innings, SA lead by 149 runs Euro 2020 LIVE broadcast in more than 200 countries, check how you can watch Live Streaming of EURO 2020 in your country Latest Sports News Share on Facebook Tweet on Twitter Tokyo Olympics: Covid-19 scare continues after a Uganda team member tests positive Previous articleIOC suspends AIBA funding; payments withheldNext articleLaLiga floats media rights tender in European markets Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Cricket Football by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeGrammarlyImprove Your Spelling With This Helpful Browser ExtensionGrammarlyCapital One ShoppingThis hack can uncover JOANN discounts you don’t know aboutCapital One Shopping24/7 SportsIt’s Amazing To See How These NBA Stars Have Changed Since College24/7 SportsMolinari commented: “I’m really pleased to be joining Lagardère Sports – it has an impressive global set up and a great team in Europe who will take care of my logistics and commercial activities. I’m excited for 2018 after the win in 2017, and hope that I can build on that this year.”Lagardère Sports is a global leader in golf with a diverse business built around talent representation, event management, and brand and property consulting. It has one of the most dynamic rosters of golf player clients – which includes six Major Championship winners and two members of the World Golf Hall of Fame – and is highlighted by Phil Mickelson, Jordan Spieth, Jon Rahm, Brian Harman, Brendan Steele, Brandt Snedeker, and Davis Love III. The agency also manages a number professional golf events around the world, which include the Safeway Open and CareerBuilder Challenge in the U.S., the Nordea Masters in Sweden, the Singapore Open, and the Australian Open.Molinari, who hails from Turin, Italy, has had an impressive golf career to date with ten professional wins across four continents since turning pro in 2006. His collection of victories includes three European Tour wins – the most recent being the Trophee Hassan II earlier this year, five Challenge Tour wins and one win on the Japan Golf Tour. Euro 2020- Spain vs Poland Highlights: Spain held to 1-1 draw as Lewandowski’s Poland keep Euro hopes alive Cricket TAGSEdorado MolinariLagardère Sports SHARE Cricket Lagardère Sports has signed a management and commercial representation agreement with Italian golfer Edoardo Molinari. Ten-time professional winner becomes the latest addition to the global agency’s world-class roster of golf clients.Jamie Salmon, Head of European Golf, Lagardère Sports added: “We’re delighted to welcome Edoardo to Lagardère Sports and look forward to working closely with him. His pedigree and profile speaks for itself and with the Ryder Cup heading to Italy in 2022, it is great timing to have one of Italy’s best golfers joining our stable of world-class clients.” Tokyo Olympics Village: Organizers unveils Tokyo games athletes village to the media, check first look Happy Father’s Day: ‘We Miss You’, Hardik Pandya pens emotional message for his father IND vs NZ in WTC Final: India batting coach says, ‘score above 250 on Day 3 would be good’, Kyle Jamieson feels it won’t…last_img read more

I’d buy these 3 FTSE 100 stocks to beat the State Pension in 2020

first_img Alan Oscroft | Sunday, 19th January, 2020 | More on: AV BATS BDEV “This Stock Could Be Like Buying Amazon in 1997” 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. Simply click below to discover how you can take advantage of this. I’d buy these 3 FTSE 100 stocks to beat the State Pension in 2020 Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! 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. Alan Oscroft owns shares of Aviva. The Motley Fool UK has no position in any of the shares mentioned. 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.center_img Our 6 ‘Best Buys Now’ Shares You’re not going to live a life of luxury on a State Pension of £168.80 per week, that’s for sure. I reckon the best way to make provision for your retirement is to invest in UK shares while you’re still working.For that, I’d look for reliable companies with strong cash generation and good dividends. And if you can get the shares at a good price, that’s even better. Here are three I think fit the bill.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…Insurance dividendsI’ve long been a fan of insurance companies, and my favourite right now is Aviva (LSE: AV). The market has been bearish towards Aviva throughout the recent years of Brexit confusion, and the shares are down as a result. Over the past five years, Aviva stock has lost 25% of its value, and as a shareholder I don’t much like that.But all that time, Aviva has been paying good progressive dividends. The anticipated 2019 dividend looks set to yield 7.7%, and 2020’s should be even better. In its latest update, AJ Bell has put Aviva’s forecast 2020 yield as high as 8.2%. Cover by earnings would come in at 1.84 times, and that looks safe enough to me.The company is going through a transition phase right now, and that creates uncertainty. But I think it’s also given us a great buying opportunity. I already own some shares in my pension portfolio, but I might go for an Aviva top up.Tobacco weaknessBritish American Tobacco (LSE: BATS) shares have made a solid start to 2020, up 6% in just less than three weeks. But the bigger picture shows a drop of nearly 40% since a peak in May 2017.The whole tobacco business has been up in the air for the past few years. Uncertainty over the future of new smoking technology hasn’t helped. And changing regulations, particularly in the US, have hit the industry too.But British American has kept its earnings growing, albeit at a slower pace than in the past. After a 5% hike in EPS in 2018, analysts are expecting 2019 to have generated another 8%. And there are similar gains on the cards for the next two years, dropping the 2021 P/E to under ten.The falling share price has boosted the dividend yield too, and analysts are predicting around 6.5% in 2020.That makes British American Tobacco look to me like one to buy and hold for retirement income.Solid housingI’ve been keen on housebuilders for some time, and I’ve just examined Taylor Wimpey. But I like all the builders in the FTSE 100, and here I’m looking at Barratt Developments (LSE: BDEV).Fears that Brexit was going to cause a property crash seem to have been assuaged now. As a result, Barratt shares have had a few good months, leading to a 12-month gain of 52%. But even after that, we’re still looking at P/E multiples of only around ten.To me that’s cheap for a company with good long-term growth prospects, but Barratt offers solid dividends too. With surplus capital to return to shareholders, the total forecast yield stands at 6%. That’s below the bigger yields offered by Wimpey, but Barratt’s dividends are progressive.They’re well covered too, with the 47p total expected for 2020 covered 1.5 times by forecast earnings. Interim results are due on 5 February, and I’m expecting to see further impressive progress. Image source: Getty Images. Enter Your Email Address 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. See all posts by Alan Oscroftlast_img read more

Be a Hero – Give Blood

first_img OneBlood put out a call yesterday for the donations.  The agency still needs types O negative, O positive and AB plasma. Many people waited in line to give blood yesterday only to be turned away.Late in the day on Sunday OneBlood asked blood donors to stop coming and schedule appointments over the next few days.“I’ve been here 13 years and never seen a response like this,” said Pat Michaels, a spokesman for OneBlood, as he revealed the blood centers were at capacity with walk-up donors. The sentiment is understood and appreciated, but it’s a little too much, too soon. But the supply will need to be replenished.”Use this link to make an appointment at the Apopka OneBlood Donor Center.Use this link to find another OneBlood Donor location. You have entered an incorrect email address! Please enter your email address here Save my name, email, and website in this browser for the next time I comment. Previous articleApopka prays for The Pulse victimsNext articleHow to Choose a New Principal – The Process and a Student’s Perspective Dale Fenwick RELATED ARTICLESMORE FROM AUTHOR UF/IFAS in Apopka will temporarily house District staff; saves almost $400,000 Gov. DeSantis says new moment-of-silence law in public schools protects religious freedom Please enter your name here Share on Facebook Tweet on Twitter LEAVE A REPLY Cancel reply Florida gas prices jump 12 cents; most expensive since 2014 Please enter your comment!last_img read more

Apopka remembers the true American hero in its annual Memorial Day…

first_img Support conservation and fish with NEW Florida specialty license plate Save my name, email, and website in this browser for the next time I comment. The Anatomy of Fear Please enter your comment! On a humid, sunny morning at the beginning of summer and the end of a long weekend, Apopka remembered the true hero of Memorial Day – the fallen American soldier.Over 1.3 million of them have fought and died on famous battlefields from Appomattox, Argonne, Bunker Hill, Gettysburg, Normandy, Pearl Harbor, and San Juan Hill to not so famous conflicts like Dien Bien Phu, the Hurtgen Forest, Quingua, Resaca de la Palma, and Umm Qasr with the sole purpose of defending freedom for the citizens of the United States.And on this day, Apopka remembered their valor.On Memorial Day 2019, the Apopka Veterans of Foreign Wars Post 10147 and the City of Apopka sponsored the annual Memorial Day service at the Edgewood/Greenwood Cemetery. Over 200 people attended.Elected officials at the ceremony included Apopka Mayor Bryan Nelson, Apopka City Commissioners Doug Bankson, Kyle Becker, and Alexander H. Smith, Orange County Commissioner Christine Moore, former Apopka City Commissioner Diane Velazquez, and former Orange County Commissioner Fred Brummer.Commander Andy Anderson of the VFW Post 10147 welcomed the crowd and presided over the event.Jason Fletcher, a Chaplain Candidate for the United States Army Reserves, delivered the invocation and benediction. During his prayer, Fletcher reminded us of those soldiers who gave their lives and gave those in attendance the job of remembrance.“We remember those who have passed, but remembering those who have passed is only half of the task ahead,” Fletcher said. “We must also carry their love, honor, and duty forward to future generations. Our children must know who they were, what they did, and why they did it.”The Apopka Police Department Color Guard, Boy Scout Troop 211, and the Girl Scout Troop 1642 presented the posting of the colors, Cooper Smalley sang the Star Spangled Banner, Jr. Vice Commander Niles Urfer and Chaplain William Boyd presided over the reading of fallen heroes ceremony from Post 10147, which included William Fagg, Alton Schumate, Charles Thomas, and Bob Weekley.Steve Brick, Marc Delle, Jim Greene, Frank Hibbler, and Joe Kara of Post 10147 also performed a Gun-Salute in their honor.Bankson and his father Pastor Roger Bankson sang a song entitled “We Remember”, written by Bankson in 2014 and becoming an Apopka Memorial Day tradition.Matthew Hutchinson played Going Home and Amazing Grace on the bagpipes, while Nelson and Anderson presented a wreath dedication for the fallen heroes.Chaplain William Boyd of Post 10147 was the featured memorial speaker, and offered these important words in honor of the American hero:“For many, this Memorial Day is a three-day holiday. Many have forgotten the true meaning of this solemn occasion. But for those of us here today, and across the nation and perhaps the world – we know. We pause to remember those who not only served but paid the ultimate price. These heroes who have placed themselves in harm’s way. These heroes who put honor first, and displayed true resolve in the face of peril. These men and women of the armed forces who paid the ultimate price… we honor you.” Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 You have entered an incorrect email address! Please enter your email address here Share on Facebook Tweet on Twitter LEAVE A REPLY Cancel reply Please enter your name here TAGSApopka Memorial Day ServiceMemorial Day Previous articleMemorial Day DealsNext articleHow rural areas like Florida’s Panhandle can become more hurricane-ready Denise Connell RELATED ARTICLESMORE FROM AUTHORlast_img read more

Hospital receives €10 million gift

first_imgHospital receives €10 million gift Tagged with: Funding Ireland Atlantic Philanthropies, the charity set up by Irish-American billionaire Charles Feeney, has sought to assist in projects for older people in Ireland.The balance of the hospital’s cost is being raised through the sale of the Cork charity’s five-acre site on Wellington Road, incorporating St Patrick’s Hospital and Marymount Hospice, government support and ongoing fundraising.“Fundraising, which has been ongoing since the idea of the new hospice was first mooted, has been remarkably successful, thanks to the astonishing generosity of the people of Cork,” said hospital chief executive Mr O’Dwyer.“The hospital is enormously indebted to them and to its volunteer fundraisers, the Friends of St Patrick’s Hospital and Marymount Hospice.“The remaining target for local fundraising is €9 million – ie €3 million a year for the next three years,” he added.  33 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis A new €55 million hospital providing palliative care and services for older people in Cork has received a €10 million gift from Atlantic Philanthropies.The Minister for Foreign Affairs, Micheál Martin, has performed the ceremonial turning of the sod at the site of the new St Patrick’s Hospital on a 13-acre site on the fringes of Cork city.The new 15,000sq m hospital will replace St Patrick’s Hospital and will include some 75 hospital beds for older people and 44 hospice beds, compared with the existing facility which has 64 hospital beds and 24 hospice beds. Advertisementcenter_img 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 Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 8 June 2009 | Newslast_img read more

JGA adds enhanced programme features to Secret Giver Scheme

first_imgJGA adds enhanced programme features to Secret Giver Scheme Melanie May | 10 April 2019 | News  189 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis3 AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis3 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via John Grain Associates (JGA) has announced that it is adding enhanced programme features to its mystery shopping and benchmarking programme Secret Giver Scheme.The Secret Giver Scheme began in April 2017 and gives member charities an insight into what their donor experience feels like through data gathered from the interactions with a Secret Giver engaged with their charity.Data is compiled from over 3,000 supporter interactions individually logged and measured by volume, frequency, topic, mode, quality and accuracy to enable member charities to see what their supporter experience feels like, and how their supporter journey compares with the wider market.Every member receives two confidential reports annually, which includes a full analysis of all activity for the period, with detailed, practical recommendations for the future, and highlighting any urgent areas for immediate action. One report also covers all competitor review activity to provide an on-going external benchmark and comparison for all members.JGA is now further investing in the Secret Giver Scheme in two key ways:Firstly, to enable wider benchmarking of competitors and give additional insights and depth to the Scheme’s qualitative and quantitative analysis, an additional ten non-member charities are being added to the benchmarking data. The Secret Giver Scheme will now monitor interactions from over 40 different charities, in addition to the member charities.In addition to following the supporter journey of one Secret Giver, the Scheme will also now offer extra one-off donations made by other Givers to member charities to provide an extra level of insight.The Membership cost remains unchanged at £6,500+ VAT per annum.JGA director, John Grain, said:“What we have learnt about supporter behaviour and stewardship over the past two years has been absolutely fascinating. The data analysis tools we are using are bespoke and as such, offer a unique profile into the winners and losers in supporter care – and ultimately the retention of donors.“Stewardship is something we have been passionate about for many years here at JGA and we now have the data to back up these long-held beliefs: look after your supporters in the right way – and the way that they want – and they’ll stick with you. It’s a tough market out there for charities and I believe that the Secret Giver Scheme offers fantastic strategic potential for those with the foresight to understand the importance of great stewardship.” Tagged with: mystery shopping  188 total views,  2 views today Advertisementlast_img read more

Fees mooted for UL PhDs

first_imgNewsLocal NewsFees mooted for UL PhDsBy admin – June 17, 2010 472 UL could be set to introduce fees of over €4,000 for postgraduate students who spend over three years working on their PhD.President of UL’s Postgraduate Students Association (PSA) Michael Bourke, said such a move would put current research at the University under threat.Sign up for the weekly Limerick Post newsletter Sign Up “The majority of students completing a doctorate will carry their research past the three year mark, and many are already under financial pressure”.UL is the only University that doesn’t charge fees for entering a fourth year, and he argues a move in this direction will directly affect the University’s potential to attract the best students.In response to Mr Bourke’s concerns, UL  told the Limerick Post that it is currently reviewing these fees in line with the standards across the sector.The postgraduate representative said: “Current PhD students have told me that they choose UL because there are no fees after the third year, and this will have an adverse affect on its ability to attract the best students”.                  At present in UL, students who do not complete their PhD within the first three years are charged a continuation fee of €437.A statement said: “These fees are at the lower end of the scale in relation to those at a national level. The costs within the university sector are in the region of €1,500 per year for continuation fees and in some institutions full fees apply for each year of study”. Mr Bourke understands that there are also proposals to increase the continuation fee. “Allegedly, this continuation fee is going to increase to €1,000 and could be higher depending on the field of study”.He believes that the decision to review the fees is purely finance based.“UL, like all Universities in Ireland, are a bit strapped for cash and seem to be looking for money anywhere they can get it”.Mr Bourke explained that postgraduate research in Ireland is geared towards three years, and funding is provided for that period.He said the introduction of further fees or higher fees would have a devastating affect on current students.“Since learning of these proposals many our students simply could not afford to complete their PhD, if these charges were introduced”.Over 800 postgraduate students pursued either research masters or doctoral programmes in UL in 2008/09. Email Twitter Linkedin Facebookcenter_img Advertisement WhatsApp Print Previous articleAnnual Novena kicks off this FridayNext article‘Time-bomb’ warning for council adminlast_img read more

The Path to Monetary Policy Normalization

first_img Demand Propels Home Prices Upward 2 days ago The Path to Monetary Policy Normalization Sign up for DS News Daily Home / Featured / The Path to Monetary Policy Normalization in Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Federal Funds Target Rate Federal Reserve Monetary Policy Nomalization St. Louis Fed  Print This Post About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Is Rise in Forbearance Volume Cause for Concern? 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Watchdog Joins Calls for More Oversight of Non-Bank Servicers Next: The Week Ahead: Looking to UK for Affordable Housing Model Share Save Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. When it comes to the normalization of monetary policy on the part of the Federal Reserve, it comes down to two possibilities: either slow normalization or no normalization, according to St. Louis Fed President James Bullard in Santa Barbara, California, this week.While speculation persists about another rate hike by the Fed in June, which would be the first time the Fed has raised the federal funds target rate since the historic liftoff in June, Bullard discussed two possibilities for monetary policy normalization: the Federal Open Market Committee (FOMC)’s scenario (slow normalization) and the market-based scenario (little or no normalization).“The FOMC has laid out, via the Summary of Economic Projections, a data-dependent ‘slow normalization,’ whereby the nominal policy rate would gradually rise over the next several years provided the economy evolves as expected,” he said. “Market-based forecasts of FOMC policy, in contrast, envision ‘almost no normalization,’ whereby the policy rate would be changed only a few times in the next several years.”James Bullard, St. Louis Fed PresidentBullard said the three factors that favor the FOMC’s scenario are relatively strong labor markets in the U.S., an inflation rate that is closer to the FOMC’s target of 2 percent, and waning headwinds in global economic markets. According to Bullard, U.S. labor markets are “relatively tight,” although job gains for April, announced the day after Bullard spoke in Santa Barbara, were somewhat disappointing (160,000) compared with February and March. Bullard pointed out that the Fed’s labor market conditions index is well above historical averages. With the inflation factor, Bullard said that large movements in oil prices have had a substantial impact on headline inflation, and these measures have been trending higher as of late. On the waning global economic headwinds, Bullard said international influences on the U.S. economy appear to be waning in the first half of 2016 and that recent readings indicate a decline in financial stress; also, the effects of a stronger U.S. dollar appear to be waning.For the market-based scenario, Bullard pointed out two factors: slow GDP growth and low inflation expectations. GDP grew at an annual rate of just 0.5 percent in the Bureau of Economic Analysis (BEA)’s first Q1 estimate, which may be partially attributable to seasonality. Bullard said that market-based measures of inflation expectation began a downward trend late in 2015 after enjoying a relatively satisfactory summer in 2014.Which scenario is closer to being correct? Is it the FOMC’s projection of a gradual pace of rate increases over the next several years, or the market-based scenario that expects to see only a few increases in the federal funds target rate over that period?“Evidence from labor markets, inflation readings and global influences suggests the FOMC median projection may be more nearly correct,” he said. “Evidence from readings on GDP growth and market-based inflation expectations suggests the market view of the path of the policy rate may be more nearly correct.” Demand Propels Home Prices Upward 2 days ago Federal Funds Target Rate Federal Reserve Monetary Policy Nomalization St. Louis Fed 2016-05-06 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago May 6, 2016 1,239 Views last_img read more

Slashing Through the Servicing Jungle

first_imgHome / Daily Dose / Slashing Through the Servicing Jungle Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Tagged with: Borrowers Investors Lenders loans mortgage mortgage servicing Outsourcing Servicing Vendors Slashing Through the Servicing Jungle Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sean Ryan is CEO of Aspen Grove Solutions, a provider of property-servicing technology solutions. Aspen delivers solutions that reduce costs and manage risks for Asset owners and Servicers, particularly in the area of default asset management. Aspen’s Property Servicing Platform sits alongside and complements loan servicing. It focuses on managing the asset and timelines across all internal teams and the supply chain that delivers services on the asset from preforeclosure through to resolution. Data Provider Black Knight to Acquire Top of Mind 2 days ago Editor’s Note: This feature appeared in the November issue of DS News.According to the Mortgage Bankers Association’s 2017 Servicing Operations Study, servicing costs for nonperforming loans (NPLs) rose from $482 to $2,113 during the last decade. A February 2018 Urban Institute report entitled “Reforming the FHA’s Foreclosure and Conveyance Process” found that a single defaulted loan can suck the profits from 12 performing loans. This is a fundamental problem facing the industry. Compliance overhead, complicated investor rules, and unfair penalties for missed dates are often blamed for these cost increases. Such factors certainly don’t help, but they are only half the story. Fundamentally, most servicing platforms do not have the experience, the know-how, or the technology to deal with defaulted properties.Managing a defaulted loan is like battling through the jungle without a map. Danger lurks in the undergrowth, but most of the survival tools have been outsourced to specialty shops or vendors. Those ultimately responsible for managing the asset often live in hope that the third parties to whom they have ceded control and management will rescue them. Asset owners are frustrated by their servicers. Servicers are frustrated by their vendors, and the troops in the field are often not paid enough to do quality work. Problems persist throughout the supply chain, and many servicers are struggling to manage it all. Consequently, default servicing leaks money across the entire process. But there is a smarter way forward.WHY IS DEFAULT SERVICING UPSIDE DOWN?Fundamentally, investors/asset owners and their servicers have ceded control over the asset to their service providers, whether it is full outsourcing to specialty shops—which adds another layer in the supply chain—or outsourcing of the inspection and preservation elements of the default process. As a result, asset owners and their servicers lack control or visibility of the rules, money, data, management, or compliance across the supply chain. This adds unnecessary overhead, removes accountability when key dates are missed, exacerbates stress, and leaves everyone wondering why servicing is struggling to make profits. Ultimately, it creates suboptimal outcomes for all stakeholders, including the borrower.Vendors retain asset owner and servicer data—the tools a servicer needs to survive the jungle. Vendors decide when to carry out work. Vendors apply the investor rules. Any oversight and sign-off processes that do exist are fundamentally inefficient and deficient in oversight and control. As the industry continues to consolidate, it may prove very difficult to retrieve the data from vendors that leave the industry. Servicers often are required to train their own internal staff to work on multiple vendor systems, which are difficult to mine for data when claims are made and can trigger antagonistic encounters with vendors over timing, money, services, and other issues. Key dates can be missed. A property can come current in the servicing system, but costs are incurred because work orders are canceled too late. FHA conveyance rules and timelines exacerbate this problem because missing a key date simply drives costs up and makes it difficult or impossible to claim all allowable expenses.National inspection and preservation providers are expected to recruit and manage vendor networks. They are expected to manage properties aligned to the many different investor rules and guidelines. They are expected to perform QC work to a high standard and shoulder the burden of billbacks, upfront payments, canceled work orders, and much more. Furthermore, many of them invest millions of dollars in technology—a cost that must be borne from fees earned. They compete in a shrinking space and attempt to differentiate on technology or specialized forms, methods, or other secret sauces. In an ideal world, they would concentrate on core services that add value such as vendor management and recruitment, performance management, compliance, and QC.Apart from a lack of control and data and a surfeit of responsibilities, mortgage servicers face one overriding barrier to the efficient management of defaulted assets: the inadequacy of loan-servicing platforms for managing the asset itself. Consequently, Excel spreadsheets, access databases, a myriad of integrations, work-allocation systems, and other motley solutions have emerged in servicing and asset shops to try to manage this process. These systems complicate issues for staff, create silos of expertise, cause inefficiencies and missed dates, and drive up the overall timelines and costs of servicing defaulted loans.We can blame the mortgage crisis of 2008 for many of the shortcomings in default loan servicing. Faced with a barrage of mortgages entering default, mortgage servicers had to scramble to deal with the REO crisis. Preforeclosure and other default processing resorted to manual workarounds while the REO avalanche was the focus. A decade has passed, but few mortgage servicers have gone back to deal with the entire default-servicing process in an efficient way. Now is the time to address those issues, before the broadly anticipated turn in the market.A defaulted loan triggers a host of servicing subprocesses that are designed to offer lenders and borrowers adequate risk-mitigation options. Asset owners and/or servicers must take control of the rules for default servicing. This means implementing technology solutions that can control, automate, and help manage these rules across the supply chain.Asset owners/servicers must control the data or have direct and easy access to the data. This means form data, photographs, vendor compliance data, and performance data. Having access to and control of the data has multiple benefits for driving efficiency, compliance, auditability, risk-reduction, cost-reduction, process improvement, business intelligence, and ultimately, creating better outcomes for all stakeholders.Implementing standard forms, processes, measurements, and metrics across the supply chain means that data becomes normalized, useful, and measurable. We all know that “what gets measured gets accomplished.” Using standardization across property servicing in default will reduce costs, enable much easier upskilling of people, and facilitate easy measurement and performance improvements. Standardization can be implemented in this industry from top to bottom with all the mobile operators in the industry. They are willing and able to help.Implementation of the property-servicing model outlined in this article does not require asset owners/servicers to ramp up a large department of people to manage the process, nor does it mean you must stop using the trusted service providers you have been using for many years. It does mean that you must implement technology to help manage and drive the process.Through the implementation of technology to track rules from the top and capture standardized, normalized data means that property servicing can be implemented without hiring and using existing people and existing service providers. Different models can be implemented, from simple oversight and rules management to more in-depth control over the workflow and process. Options exist to suit each asset owner or servicer.A WAY OUT: THE PROPERTY SERVICING SOLUTIONImplementing a property-servicing platform that sits beside and complements loan servicing while focusing on the asset and not the loan allows servicers/asset owners to retain survival tools and manage NPLs effectively. This approach slashes default processing costs and leakage and helps servicers hold on to their hard-won profits. Property servicing uses a single platform for property-related data that is maintained and updated with key information in real time or near-real time, implements standards across the supply chain, allows every member of every department to work in one system, integrates to the servicing platform, ensures key dates are not missed, and houses and drives all the investor rules. This solution drives efficiencies, reduces leakage, enables compliance, manages vendors and service quality, integrates to services such as property registration or loss mitigation, captures data upfront for claims processing, and ultimately, leads to a smooth, normalized default servicing capability and management.Embracing this solution requires courage. Servicers and/or asset owners must require their service providers to use it. They must bite the bullet on project implementation. They must resource the project to turn this industry right side up. With bravery comes reward, and the losses being incurred to manage defaulted properties can be reduced dramatically. The proper investment in managing the defaulted asset through resolution can be achieved to the benefit of all stakeholders. 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Criminal gangs marking houses worth robbing

first_img Google+ By News Highland – April 11, 2013 Pinterest Pinterest Previous articleCustoms in Louth seize diesel laundering unitsNext articleInquest into the death of Savita Halappanavar continues today News Highland Twitter Twitter WhatsApp 75 positive cases of Covid confirmed in North Google+ Further drop in people receiving PUP in Donegal Facebookcenter_img Facebook WhatsApp RELATED ARTICLESMORE FROM AUTHOR News It’s reported criminal gangs are leaving chalk marks outside homes, in an effort to alert other burglars as to whether this property is worth robbing.The Irish Examiner says community alert groups have reported seeing such codes left outside homes in Dublin, Drogheda and Limerick.Its understood there are 8 symbols, and they range in meaning from things like like  this home is a good target, vulnerable female easily conned  to  alarmed and too risky.Homeowners who spot them are being advised to remove them immediately and report the incident to the Gardai. Main Evening News, Sport and Obituaries Tuesday May 25th 365 additional cases of Covid-19 in Republic Man arrested on suspicion of drugs and criminal property offences in Derry Criminal gangs marking houses worth robbing Gardai continue to investigate Kilmacrennan firelast_img read more