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Tuesday, October 4, 2016

Equifax to Share the Stage with Facebook at BAI Beacon Conference


ATLANTA, Oct. 4, 2016 /PRNewswire/ — Equifax Inc. (NYSE:EFX), a global information solutions company, today announced that
Oksana Livigni, VP of Digital Solutions at Equifax, will co-present with Facebook’s
Noah Choi at BAI Beacon in Chicago at McCormick Place on Wednesday, Oct. 5, at 4:20 p.m. Central. The presentation, entitled “Millennials & Mobile: Identifying & Reaching Your Next Best Customers,” will focus on how unique data and insights from Equifax can help banks and other financial institutions better understand millennials which can lead to more impactful mobile marketing strategies.


Equifax Inc. logo. (PRNewsFoto/Equifax Inc.)

“I’m delighted to share the stage with Facebook and highlight the unique targeting and segmentation strategies that many marketers don’t realize are available” said Livigni. “We will be sharing compelling insights about three key millennial segments: Mass Market, Mass Affluent and Affluent. Our data showcases the nuances between the segments and how marketers can understand and reach each more effectively.”


Among the insights shared during the presentation, attendees will hear insights into trending financial habits like, discretionary spending, total credit balance, student loan balance and mortgage balance. “We believe that data and insights can be powerful marketing drivers when used effectively,” according to
Brad Jones, Retail Banking Leader at Equifax. “When combined with the power of mobile and social media, the impact can be a winning combination.”


Livigni, along with Jones, will be available to conduct one-on-one meetings with members of the media throughout the day to share additional insights not covered in the presentation.


About Equifax
Equifax powers the financial future of individuals and organizations around the world. Using the combined strength of unique trusted data, technology and innovative analytics, Equifax has grown from a consumer credit company into a leading provider of insights and knowledge that helps its customers make informed decisions. The company organizes, assimilates and analyzes data on more than 820 million consumers and more than 91 million businesses worldwide, and its databases include employee data contributed from more than 5,000 employers.


Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor’s (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 9,200 employees worldwide.


Some noteworthy achievements for the company include: Ranked 13 on the American Banker FinTech Forward list (2015); named a Top Technology Provider on the FinTech 100 list (2004-2015); named an InformationWeek Elite 100 Winner (2014-2015); named a Top Workplace by Atlanta Journal Constitution (2013-2015); named one of Fortune’s World’s Most Admired Companies (2011-2015); named one of Forbes’ World’s 100 Most Innovative Companies (2015). For more information, visit www.equifax.com


Facebook® is a registered trademark of Facebook, Inc.


Logo – http://photos.prnewswire.com/prnh/20060224/CLF037LOGO


To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/equifax-to-share-the-stage-with-facebook-at-bai-beacon-conference-300339018.html


SOURCE Equifax Inc.




Equifax to Share the Stage with Facebook at BAI Beacon Conference

Monday, October 3, 2016

Utah-based lenders agree to pay nearly $10M to resolve mortgage lending case - Salt Lake Tribune


If a DEL approves a mortgage loan for FHA insurance and the loan later defaults, the holder of the loan may submit an insurance claim to HUD, FHA’s parent agency, for the losses resulting from the defaulted loan. Under the DEL program, the FHA does not review a loan before it is endorsed for FHA insurance for compliance with FHA’s credit and eligibility standards, but instead relies on the efforts of the DEL to verify compliance. DELs are therefore required to follow program rules designed to ensure that they are properly underwriting and certifying mortgages for FHA insurance, the justice department said.


As part of the settlements, both PRMI and SecurityNational admitted they certified loans for FHA mortgage insurance that did not meet HUD underwriting requirements regarding borrower creditworthiness and eligibility, the justice department said.


“The FHA program provides important economic support for homeownership and community development,” said Principal Deputy Assistant Attorney General Benjamin C. Mizer, head of the Justice Department’s Civil Division. “The department has and will continue to ensure that program participants adhere to applicable requirements and will pursue those that knowingly misuse the program for their own gain and to the detriment of homeowners and the public.”


“PRMI obtained HUD insurance by intentionally claiming its loans met HUD’s quality standards while knowing many of its loans did not meet those standards,” said Acting U.S. Attorney Bob Troyer for the District of Colorado said in the news release. “When those loans failed, it was the government who suffered the loss. We will continue our efforts to hold housing lenders accountable for fraudulent conduct.”


“HUD relies on the Direct Endorsement Lenders like SecurityNational to make sure their loans are made only after a rigorous and thorough review,” said U.S. Attorney Paul J. Fishman for the District of New Jersey. “In this case, SecurityNational has admitted it approved loans that it had no business endorsing, potentially damaging a vital FHA program and other potential borrowers.”


PRMI admitted it endorsed loans that were not eligible for FHA mortgage insurance, including loans where:


PRMI failed to document the assets used to qualify the borrower for FHA mortgage insurance and omitted liabilities owed by the borrower from the underwriting analysis;


PRMI failed to document income used to qualify the borrower for FHA mortgage insurance;


PRMI failed to verify the borrower’s earnest money deposit; and


The borrower was delinquent on a second, pre-existing FHA mortgage.


SecurityNational admitted it endorsed loans that were not eligible for FHA mortgage insurance, including loans where:


The borrower was delinquent on federal debt and had an unpaid court-ordered judgment;


The borrower was four months delinquent on the underlying mortgage SecurityNational refinanced into an FHA loan;


The mortgage loan amount exceeded HUD’s loan to value requirements;


SecurityNational failed to document income used to qualify the borrower for FHA mortgage insurance; and





Utah-based lenders agree to pay nearly $10M to resolve mortgage lending case - Salt Lake Tribune

a-young-generation-loves-obama-cool-to-clinton-trump








DURHAM, North Carolina (AP) — A new generation of American voters has few if any profound political memories of any president other than Barack Obama, and that appears to be having an effect on how they perceive their choices for his successor.


A new GenForward survey suggests millennials as a whole disapprove overwhelmingly of Republican presidential nominee Donald Trump, and interviews with college students in the battleground state of North Carolina found many first-time voters see the 70-year-old real estate mogul as offensive, unprepared and even racist.


About 60 percent of those voters age 18 to 30, meanwhile, approve of the job Obama is doing.


Yet those sentiments don’t necessarily benefit Democratic nominee Hillary Clinton, 68, raising questions about whether the former secretary of state can generate the same level of support among an age bracket that helped Obama win two terms.


Here’s what some millennial voters have to say about Clinton, Trump, Obama and the state of the nation.



Duke University graduate student Jennifer Lenart, 23, is considering third-party choices, arguing that another Clinton administration would be dominated, fairly or not, by controversy and gridlock:


“I do like her, but because of what I keep hearing, it’s too much, too overwhelming. I’d rather start from a clean slate so we don’t have to deal with this anymore.”



Joey Abbate, a 21-year-old varsity wrestler at Duke, describes himself as a Republican unhappy with the state of the nation. The California native will vote for Trump, but says he isn’t confident in his choice:


“There needs to be some change, and I don’t really see that coming with Clinton. … I know there would be some change with Trump. I just don’t know whether it would be good or bad. It’s tough to know because he doesn’t have any political background. I feel like with Trump you’re almost in the dark, you know. … With Clinton you kind of know what you’re getting.”



Thayer Atkins, a 20-year-old Duke student and varsity wrestler from Texas, says he’s a Republican who opposed Obama’s re-election and will vote for Trump, but he doesn’t “fear” another Democratic administration:


“While some things have happened I don’t agree with, I don’t really think that’s the case that we’re going down the tubes. … I’m not sitting here saying, ‘If Hillary gets elected, that’s the nail in the coffin. We’re done.’ I just think she gets us farther away from where I think we need to be.”



Micah English, a 21-year-old Duke student from Maryland who supports Clinton, says she tries to dissuade her fellow millennials from voting for a third-party candidate.


“If you want to advance a cause against the two (major) parties, it is not done by voting for president. Do that at the local and state level. Build the legitimacy of the party. Get more people on your side. Make the ideas more mainstream. That’s not how I think American democracy would be, but that is the system we have. It would be great if Gary Johnson or Jill Stein could win a national election, but they can’t.”



Vikram Seethpalli, a 19-year-old Duke student, backed Bernie Sanders in the Democratic primary, but says Clinton is clearly preferable to Trump:


“One of the main things I hear (from fellow millennials) is just wanting a change in Washington, no matter what it is. The other is people thinking she’s completely untrustworthy. One of the reasons I initially wasn’t going to vote for her was the money aspect — the campaign finance. But I put it in the simplest terms. If Trump is elected and you voted for Gary Johnson, will you regret your decision if thousands of people are being deported and you didn’t vote for the only other viable candidate?”



Ben Ezroni, 19, of New York describes himself as a reluctant Trump supporter: “I’m tired of the GOP and the same old politicians. But I feel like Hillary brings that same image as well. When I think of Hillary, I think of special interest groups, I think about the Clinton Foundation, all that stuff. I’m just looking for something different. I feel like that’s what Obama brought.”



Paulos Muruts, a 19-year-old Duke student from North Carolina, finds Trump “racist,” but says he might have to be convinced actually to vote for Clinton.


“Hillary has the experience. I would trust her more in the boardroom with other leaders. She was top lawyer, served as secretary of state. I just don’t think Trump has the personality for the job. He’s too reactive. You just have to have the right temperament. … (But) she doesn’t inspire excitement.” But on Obama: “Love President Obama. He’s got a swagger. He plays basketball. The things he does in public. He’s tight with all these athletes. … He’s actually accomplished a lot, and with all the criticism and opposition he faces, he just takes it. He’s cool.”



Arielle Kahn, a 21-year-old Duke University senior from New York, says much of Clinton’s struggle to connect with voters stems from unconscious sexism:


“It’s’ so ingrained in our society how women are treated. People say, ‘Oh, she’s not the best politician,’ because she’s not perfect. … In comparison to Trump? He’s the worst politician, and the mere fact that she has to be the model of perfection to even be considered on the same playing field? That’s just wrong.”


—-


Compiled by Associated Press reporters Bill Barrow and Kathleen Ronayne.




a-young-generation-loves-obama-cool-to-clinton-trump

Sunday, October 2, 2016

simmons-management-group-to-become-sigma-real-estate-services

Change in Management and Strategic Focus Follows Acquisition of Simmons by SIGMA; New Owner Plans Major Capital Infusion

College Park, Maryland – September 30, 2016 – (Newswire.com)


At a meeting last night, attended by customers, vendors and employees, Sigma Real Estate Services (SIGMA) formally announced a change in name from its predecessor company, Simmons Management Group (SMG).


SMG was established in 1990 and became a leader in the property management field operating in several markets in the Metro DC, Baltimore and adjacent suburban areas. Under the guidance of founder Larry Simmons, SMG grew to manage over 60 residential properties including condominiums, cooperatives and residential associations. SMG was acquired by SIGMA Real Estate Services in December of 2015.


Constantin Anagnostopoulos, president of SIGMA, said, “We are very pleased with the progress we’ve made to date in building on the base that Larry created over the past 26 years. We have implemented a new strategic direction for the firm that involves significant integration of technology, both hardware and software, in all aspects of the property management process, and outfitting our employees to work with the utmost efficiency and effectiveness.”


“In addition to technology, we are focusing on employee training and growth, enhancing our capabilities by hiring the best and most qualified people with the highest property management certifications,” said Anagnostopoulos.


He added, “Our new strategic vision for SIGMA is to provide superior customer service, enhanced communication through online portals and other means, increased transparency and access to data, and unmatched responsiveness to our clients and their needs. In this way, partnering with SIGMA will allow property owners to optimize the potential of their assets by delivering sustained bottom line results.”


Mr. Anagnostopoulos has over 15 years of institutional real estate experience with the firms of Boston Capital, First Sterling Financial, and most recently, Sentinel Real Estate Corporation, a major national owner and manager of multifamily real estate assets.


He has been responsible for residential portfolios ranging from 2,000 to over 20,000 units, and has overseen over $100 million in construction and development projects, as well as more than $500 million in multifamily acquisitions. He holds a BS in Economics and a minor in Architecture from Lehigh University, and an MBA in Finance from Northeastern University. He has lectured at New York University and Baruch College-CUNY on principles of asset management, real estate finance, and operating fundamentals.


About Sigma Real Estate Services


SIGMA Real Estate Services is a residential property management company that delivers superior service by applying the latest technology, excellent customer service, transparency and the benefits of its 25 years of experience. The firm currently manages over 60 condominiums, cooperatives, residential associations and other multifamily properties in the Northeast.


Contact:


Brittany Johnson

bjhnson@sigmares.com

877-744-6201


Related Links

Website


Related Files

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Sigma Logo Just the Text copy.pdf



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Original Source: Simmons Management Group to Become SIGMA Real Estate Services



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Saturday, October 1, 2016

federal-reserve-board-invites-public-comment-on-proposed-rule-to-modify-its-capital-plan-and-stress-testing-rules-for-2017-cycle


Release Date: September 26, 2016


For release at 3:00 p.m. EDT


The Federal Reserve Board on Monday invited public comment on a proposed rule to modify its capital plan and stress testing rules for the 2017 cycle. Among other changes, the proposal would tailor the Federal Reserve’s Comprehensive Capital Analysis and Review (CCAR) to remove certain large and noncomplex firms from the qualitative assessment of CCAR.


CCAR evaluates the capital planning processes and capital adequacy of bank holding companies with $50 billion or more in total consolidated assets. In the current CCAR process, the Federal Reserve conducts a qualitative assessment of the strength of each firm’s capital planning process in addition to a quantitative assessment of each firm’s capital adequacy based on hypothetical scenarios of severe economic and financial market stress.


The proposal would remove the qualitative assessment of CCAR for large and noncomplex firms, or bank holding companies and intermediate holding companies of foreign banking organizations with total consolidated assets between $50 billion and $250 billion, on-balance sheet foreign exposure of less than $10 billion, and total consolidated nonbank assets of less than $75 billion.


While the Federal Reserve has already published capital planning supervisory expectations that are tailored to the size and complexity of these firms, the proposal would reinforce the Federal Reserve’s less stringent expectations for these less systemic firms, which are generally engaged in traditional banking activities. The proposed rule would also reduce certain reporting requirements for these firms. The firms would continue to be subject to the quantitative requirements of CCAR, as well as normal supervision by the Federal Reserve regarding their capital planning.


The proposed rule would also decrease the amount of capital any firm subject to the quantitative requirements of CCAR can distribute to shareholders outside of an approved capital plan without seeking prior approval from the Board. Currently, if a firm does not receive an objection to its capital plan, it may distribute up to 1 percent of its tier 1 capital above the distributions in its capital plan. The proposal would reduce that amount to 0.25 percent of tier 1 capital.


The proposed rule would take effect for the 2017 CCAR. Comments on the proposal are due by November 25, 2016.


For media inquiries, call 202-452-2955.


Attachment (PDF)


Comment on proposal: Submit | View


Board Votes





federal-reserve-board-invites-public-comment-on-proposed-rule-to-modify-its-capital-plan-and-stress-testing-rules-for-2017-cycle

schedule-for-week-of-oct-2-2016


The key report this week is the September employment report on Friday.


Other key indicators include the September ISM manufacturing and non-manufacturing indexes, September auto sales, and the August trade deficit.


Also the quarterly Reis surveys for office, apartment and malls will be released this week.


A key focus will be on the second Presidential debate on Sunday, Oct 9th.



—– Monday, Oct 3rd —–


Early: Reis Q3 2016 Office Survey of rents and vacancy rates.

ISM PMI10:00 AM: ISM Manufacturing Index for September. The consensus is for the ISM to be at 50.2, up from 49.4 in August.


Here is a long term graph of the ISM manufacturing index.


The ISM manufacturing index indicated contraction at 49.4 in August. The employment index was at 48.3%, and the new orders index was at 49.1%.


10:00 AM: Construction Spending for August. The consensus is for a 0.3% increase in construction spending.


Vehicle SalesAll day: Light vehicle sales for September. The consensus is for light vehicle sales to increase to 17.4 million SAAR in September, from 16.9 million in August (Seasonally Adjusted Annual Rate).


This graph shows light vehicle sales since the BEA started keeping data in 1967. The dashed line is the August sales rate.



—– Tuesday, Oct 4th —–


Early: Reis Q3 2016 Apartment Survey of rents and vacancy rates.

At 9:00 PM ET, the Vice Presidential Debate, at Longwood University in Farmville, Virginia



—– Wednesday, Oct 5th —–


7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:15 AM: The ADP Employment Report for September. This report is for private payrolls only (no government). The consensus is for 170,000 payroll jobs added in September, down from 177,000 added in August.


Early: Reis Q3 2016 Mall Survey of rents and vacancy rates.


U.S. Trade Deficit8:30 AM: Trade Balance report for August from the Census Bureau.


This graph shows the U.S. trade deficit, with and without petroleum, through July. The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.


The consensus is for the U.S. trade deficit to be at $39.0 billion in August from $39.5 billion in July.


10:00 AM: Manufacturers’ Shipments, Inventories and Orders (Factory Orders) for August. The consensus is a 0.2% decrease in orders.


10:00 AM: the ISM non-Manufacturing Index for September. The consensus is for index to increase to 52.9 from 51.4 in August.



—– Thursday, Oct 6th —–


8:30 AM ET: The initial weekly unemployment claims report will be released. The consensus is for 256 thousand initial claims, up from 254 thousand the previous week.

—– Friday, Oct 7th —–


8:30 AM: Employment Report for September. The consensus is for an increase of 168,000 non-farm payroll jobs added in September, up from the 126,000 non-farm payroll jobs added in August.

The consensus is for the unemployment rate to decline to 4.8%.


Year-over-year change employmentThis graph shows the year-over-year change in total non-farm employment since 1968.


In August, the year-over-year change was 2.45 million jobs.


A key will be the change in wages.


3:00 PM: Consumer credit from the Federal Reserve. The consensus is for a $16.8 billion increase in credit.



—– Sunday, Oct 9th —–


At 9:00 PM ET, the Second Presidential Debate, at Washington University in St. Louis, St. Louis, MO





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see-carroll-oconnors-place-in-malibu


Ken Lubas/Getty Images


Sold for $9.3 million


Malibu, California




Amenities

  • 3,655 square feet

  • 3 bedrooms

  • 4 bathrooms

  • 42 feet of beachfront



Only a meathead wouldn’t love Archie Bunker’s recently sold Malibu oceanfront home.


The late Carroll O’Connor, who played the cigar-chomping, bigoted Bunker on the 1970s sitcom “All in the Family,” called this Moorish mirage his home for more than a quarter century, according to the Los Angeles Times. Like O’Connor’s signature role, this villa speaks its mind with arches galore, distinctive green tile roofs, a zigzag-tiled courtyard and roaring Pacific views.





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