Kier’s share price is down 93% in 3 years. Here’s my view on the stock now

first_img 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. Edward Sheldon, CFA | Wednesday, 8th July, 2020 | More on: KIE 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. The last time I covered Kier (LSE: KIE) shares was in mid-June 2019. At the time, the stock looked cheap. However, it was clear the company had some serious challenges to work through. As a result, I said the best move was to avoid the stock.Fast forward to today. Kier’s share price is now nearly 30% lower than it was in mid-June last year. So, avoiding the stock was definitely the right move. Has the outlook for Kier improved since my last article? Let’s take another look at the investment case.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…Kier shares: an encouraging trading updateKier’s most recent trading update, issued on 1 July, was relatively encouraging, in my view. While the company said Covid-19 had adversely affected the group’s revenue and resulted in additional costs, it also said its underlying performance recently had “remained resilient.”It added that due to the strength of the group’s orderbook (£7.6bn at 31 May), its expertise in managing complex projects, and its long-standing client relationships, it remained confident in its outlook for the financial year ending 30 June 2021.This update suggests to me that since my article, Kier has made some progress in terms of turning things around.Insiders have been buyingIt’s also encouraging to see that some insiders have purchased Kier shares in recent months. Back in March, they included CEO Andrew Davies, CFO Simon Kesterston, and chairman Matthew Lester buying KIE shares. While the purchases weren’t huge, I still see this kind of insider transaction activity as relatively bullish.The shorters have backed offIt’s also worth noting that shorters (hedge funds betting against Kier shares) have really backed off recently. Back in 2018, Kier was one of the most shorted stocks on the LSE. For example, in September 2018, short interest was a worryingly high 18%, suggesting that many hedge funds were expecting the stock to fall. Today though, short interest is just 1.2%, according to shorttracker.co.uk. This indicates the outlook for Kier has improved.Red flagsHowever, there are still some red flags here. One is the company’s debt level. In its most recent trading update, the group advised its average month-end net debt for the current financial year is expected to be approximately £440m. Given that equity on the balance sheet at 31 December was £519m, that’s quite high. Having a high level of debt in the current economic environment isn’t ideal.Another red flag is that brokers continue to downgrade their earnings forecasts. Over the last three months, the consensus earnings per share forecast for this year has fallen about 10%.Kier share price: my viewWeighing everything up, I’m starting to see some appeal in Kier shares. The valuation is low (forward P/E ratio of just 2.1) and the company looks to be turning things around.I wouldn’t buy the stock myself, as I prefer to invest in high-quality businesses that are highly profitable and very resilient. However, as a turnaround play, I do think the stock is starting to look interesting. Image source: Getty Images “This Stock Could Be Like Buying Amazon in 1997” Simply click below to discover how you can take advantage of this. 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.center_img Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Edward Sheldon has no position in any shares mentioned. 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. Kier’s share price is down 93% in 3 years. Here’s my view on the stock now Enter Your Email Address See all posts by Edward Sheldon, CFAlast_img read more

Archbishops of Canterbury and York pray for evangelization of England

first_img Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Director of Music Morristown, NJ This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Featured Jobs & Calls Priest Associate or Director of Adult Ministries Greenville, SC Assistant/Associate Rector Morristown, NJ Posted Feb 29, 2016 Rector Smithfield, NC Priest-in-Charge Lebanon, OH Associate Priest for Pastoral Care New York, NY Submit a Job Listing Submit an Event Listing Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Rector Knoxville, TN In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Rector Tampa, FL Rector Belleville, IL Submit a Press Release Course Director Jerusalem, Israel Associate Rector for Family Ministries Anchorage, AK Rector (FT or PT) Indian River, MI Tags Assistant/Associate Rector Washington, DC Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Youth Minister Lorton, VA Rector Shreveport, LA Press Release Service An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Cathedral Dean Boise, ID Rector Pittsburgh, PA Rector Collierville, TN center_img Rector Martinsville, VA Assistant/Associate Priest Scottsdale, AZ Rector/Priest in Charge (PT) Lisbon, ME Rector Hopkinsville, KY Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Anglican Communion, [Anglican Communion News Service] The Archbishops of Canterbury and York have called for a “great wave of prayer” for the evangelisation of England. In an “unprecedented step”, Justin Welby and John Sentamu have written to every parish priest in the Church of England, inviting churches across the country to take part in the focused prayer initiative in the week leading up to Pentecost Sunday.They say they want “to see a great wave of prayer across our land, throughout the Church of England and many other Churches” from 8 to 15 May. At the end of the week, a number of “beacon” events will be held – at St Paul’s Cathedral in London on Saturday 14 May; and at Durham, Coventry, Winchester, and Canterbury Cathedrals and St Michael le Belfrey in York, on Sunday 15 May.These beacon events, led by renowned worship leaders and preachers, will provide space for people to “pray for the renewal of the Holy Spirit and the confidence to share their faith,” a spokesman for Lambeth Palace said.Archbishop Justin will send a message via live video link to other beacon events taking place at the same time as the Canterbury event.“At the heart of our prayers will be words that Jesus himself taught us – ‘Thy kingdom come, thy will be done,’” the two archbishops said in their letter to clergy.“It is impossible to overstate the life-transforming power of the Lord’s Prayer,” they say. “It is a prayer that is reassuring enough to be on the lips of the dying and yet dangerous enough to be banned in cinemas.“It is famous enough to be spoken each day by billions in hundreds of languages and yet intimate enough to draw us ever closer into friendship with Jesus Christ.“It is simple enough to be memorised by small children and yet profound enough to sustain a whole lifetime of prayer.“When we pray it with sincerity and with joy, there is no imagining the new ways in which God can use us to his glory.”The archbishops are suggesting various ways churches can engage with the week of prayer; including the holding of day-long or week-long continuous 24/7 prayer; either as parishes, teams or deaneries; saying special prayers in Sunday worship; prayer walking; or handing out a novena prayer card to every congregation member.In their letter to clergy, Archbishops Justin and Sentamu say: “As we travel around the country, we are continuously encouraged by the faithfulness, commitment and courage of all our Partners in the Gospel. Your ministry in sharing the Good News of Jesus Christ, often in testing circumstances, is an inspiring testimony to the transforming work of our Lord.”They say that “ministry is empty and barren without prayer” and say that their hope is “for all Christians to deepen their relationship with Jesus Christ; for all of us to have confidence to share the Gospel [and] for all to respond to the call of Jesus Christ to follow Him as disciples, to live out the Gospel and to seek God’s Kingdom from day to day.”Partners in the week of prayer initiative include 24-7 Prayer, HOPE, the World Prayer Centre, the Neighbourhood Prayer, Network, and the National Day of Prayer and Worship.Click here for more information. Missioner for Disaster Resilience Sacramento, CA TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Director of Administration & Finance Atlanta, GA Archbishops of Canterbury and York pray for evangelization of England Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 New Berrigan Book With Episcopal Roots Cascade Books Rector Washington, DC The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Associate Rector Columbus, GA Family Ministry Coordinator Baton Rouge, LA Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Featured Events Rector Bath, NC Bishop Diocesan Springfield, IL Archbishop of Canterbury Rector and Chaplain Eugene, OR Curate Diocese of Nebraska Rector Albany, NY Canon for Family Ministry Jackson, MS Curate (Associate & Priest-in-Charge) Traverse City, MIlast_img read more

Los Angeles gets a Major League Rugby franchise, and it’s named after a cocktail drink

first_imgThursday May 28, 2020 Los Angeles gets a Major League Rugby franchise, and it’s named after a cocktail drink Major League Rugby (MLR) announced today that Los Angeles has officially been awarded a franchise for the 2021 MLR season. The new team is called the LA Giltinis, named after a premium cocktail based on the Martini.ADVERTISEMENT“We are thrilled to be welcoming Los Angeles to MLR. LA is an important addition to the League as a major media market and the region has a lengthy rugby history embedded in their culture,” said Commissioner George Killebrew.Ownership of the LA Giltinis will primarily reside with Loyals Rugby, a Rugby investment company founded in Australia.The LA Giltinis will be based in Venice Beach and are in discussions with Los Angeles Coliseum to be their home stadium. They’re also working with UCLA to develop their High-Performance facility and will extend significant investment to youth Rugby in the region.“The launch of the LA Giltinis and Major League Rugby in Los Angeles will ensure Rugby takes its rightful place among the best entertainment products worldwide. It is our privilege to bring one of the world’s most popular sports to the world’s most prolific entertainment market.” Matt Burgess, CEO of Loyals Rugby.Shute Shield winning and highly regarded Australian coach, Darren Coleman has been appointed Head Coach. Former Wallaby and Australian Sevens Coach, Stephan Hoiles has been appointed Assistant Coach.There will be a non-alcoholic version of the Giltini available for those underage.ADVERTISEMENT“I have the utmost confidence in the LA Giltinis ownership group to lead the team to success, and to provide valuable support for MLR as a whole. Given these uncertain times with the current global crisis, we feel fortunate that MLR is still rapidly growing and being positioned for success in 2021,” said Killebrew. Posted By: rugbydump Share Send Thanks Sorry there has been an error News Related Articles 25 WEEKS AGO Exeter vs Toulouse is off as a number of… 25 WEEKS AGO Danny Cipriani leaves Gloucester with immediate… 25 WEEKS AGO ‘Aphiwe can’t believe it. We were starting… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyUrologists Stunned: Forget the Blue Pill, This “Fixes” Your EDSmart Life ReportsDoctors Stunned: This Removes Wrinkles Like Crazy! (Try Tonight)Smart Life ReportsIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier Living10 Types of Women You Should Never MarryNueeyThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Arkvista Residence / arkiZON

first_img Turkey Architects: arkiZON Area Area of this architecture project Arkvista Residence / arkiZON Projects Products used in this ProjectFaucetsAXORBathroom Collection – AXOR Starck OrganicDesign Team:Emin Balkış Elvan ÇalışkanConstruction Project Group:Canan Şen Öztabak, Elvan Ariker, Elif Erkmen, Bahar NamaProject Manager:Elvan ÇalışkanOwner:ArkkonContractor:ArkkonLandscape Design:Yeşilvadi Bahçe ve FidanlığıLightning Design:Hi- TecEngineering:AKEMConstruction Manager:Oğuz ÜçerCity:KadıköyCountry:TurkeyMore SpecsLess SpecsSave this picture!© Yercekim Architectural PhotographyText description provided by the architects. Arkvista is located in Caddebostan where was used as Istanbul’s summer residence neighbourhood. This neighbourhood has been transformed for years, and became today’s quiet residential appearance. Nowadays, Caddebostan and the district around are going through another transformation. This transformation aims to renovate buildings which are old and weak for earthquakes. In this context, Arkvista was designed to bring the traces of modern architecture into the district.Save this picture!© Yercekim Architectural PhotographySave this picture!Floor 0Save this picture!© Yercekim Architectural PhotographyArkvista has a rectangle land which is located at the back parcel of the main beach axis. Accordingly, while the large facade is looking to a narrow street, the narrow facade is looking to the busy traffic of Cemil Topuzlu Street. From the fourth floor to the top floor,  the apartments are looking through Marmara Sea which contains the view of Prince Island. Consequently, there is the plan scheme of a broad view of the building at the front with a balcony and the living room, followed by the kitchen, bedrooms and baths as one apartment per floor.Save this picture!© Yercekim Architectural PhotographyNarrow facade, which has a sea view from the balconies, is shaped by movement of a vertical line that continues all over the surface. Balconies are set back at the point where they meet the line and these movements are reflected in each plan on each floor. Through this movement each floor gets a unique and distractive schematic plan. However, the balconies are not too tight they have a sufficient range of use. Save this picture!© Yercekim Architectural PhotographyWide facade, which is perceived shore line of Bostancı, is divided by narrow vertical panels in order to soften the width of the facade. These panels are continuing for fourteen floors. Alucobond aluminium composite panels, which reflect the sky, and Kale Sinterflex panels that are lightweight and has a stone appearance, are used for the facade. These vertical panels are divided by horizontal Alucobond panels in every three floors in order to balance the height of fourteen floor building.Save this picture!Floor 14Landscape is designed with grass pavers the public street and the site of the building is designed with plants instead of high walls that create a pressure to the street.Save this picture!© Yercekim Architectural PhotographyProject gallerySee allShow lessAIUEnO Restaurant / MIEL ArquitectosSelected ProjectsBusiness School Atrium Extension / IO StudioSelected ProjectsProject locationAddress:Caddebostan, 34728 Kadıköy/İstanbul, TurkeyLocation to be used only as a reference. It could indicate city/country but not exact address. Share Arkvista Residence / arkiZONSave this projectSaveArkvista Residence / arkiZON ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/785467/arkvista-residence-arkizon Clipboard ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/785467/arkvista-residence-arkizon Clipboard 2015 ArchDaily Photographs:  Yercekim Architectural Photography Manufacturers Brands with products used in this architecture project Apartments Photographs Area:  3720 m² Year Completion year of this architecture project “COPY” CopyApartments•Kadıköy, Turkey “COPY” CopyAbout this officearkiZONOfficeFollowProductsGlassSteelConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsKadıköyTurkeyPublished on April 16, 2016Cite: “Arkvista Residence / arkiZON” 15 Apr 2016. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogMetal PanelsAurubisCopper Alloy: Nordic BrassGlassMitrexSolar GreenhouseLouvers / ShuttersTechnowoodSunshade SystemsFaucetsDornbrachtKitchen Fittings – EnoWoodSculptformTimber Tongue and Groove CladdingMembranesEffisusFaçade Fire Weatherproofing Solutions in Design District Project LondonHanging LampsLouis PoulsenPendant Lights – KeglenBlinds / Mosquito Nets / CurtainsBANDALUXPleated ShadesEnclosures / Double Skin FacadesFranken-SchotterFacade System –  LINEAWoodBlumer LehmannCNC Production for Wood ProjectsMaterials / Construction SystemsCaneplex DesignPoles – Tonkin BambooFibre Cement / ConcreteTegralFibre Cement Slate Roofing – Thrutone Endurance SmoothMore products »Save想阅读文章的中文版本吗?狭窄街面上的锐利棱角,Arkvista 住宅 / arkiZON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 Year:  Manufacturers: AXOR, Cosentino, Geberit, Hansgrohe, Alubond, Atlas Schindler, Berker, Daikin, Danfoss, Gaggenau, Grohe, Kale, Miele, Scavolini, Viessmann, Villeroy & Boch, VitrA, Alucobond, Ardo, Atika, +13Blanko, DT Stone, Dyo, Efesus Stone, Gorbon Tiles, Hi-Tec, Juno Design & Manufacture, Mood Desorasyon, Pierinelli, Schuco, Sukar, Triveneta Parchetti, İnşaat Malzemeleri-13 Products translation missing: en-US.post.svg.material_description Save this picture!© Yercekim Architectural Photography+ 26 Sharelast_img read more

TCU football unranked for first time since September 2014

first_img Previous articleNo longer a sequel: BLUU 2 officially King Family CommonsNext articleVIDEO: Frogs lose in double OT Kacey Bowen RELATED ARTICLESMORE FROM AUTHOR printTCU football is unranked for the first time since September 2014. The Horned Frogs fell out of the top 25 in the Associated Press College Football poll after losing to Arkansas in double overtime and snapping a 14 home-game winning streak on Saturday night. Arkansas, however, rose in the rankings. For the first time this season the Razorbacks are ranked. The win against the Frogs ranked them at No. 24 in the poll.But with this weekend’s game action, TCU wasn’t the only Big 12 school to fall completely out of the rankings. Then ranked No. 22 Oklahoma State University fell out of the rankings when they lost to Central Michigan on a final touchdown play. Officials said after the game that the call was misinterpreted and should have not counted.Georgia and Clemson also fell in the rankings after close calls. Georgia dropped seven spots, falling from 9th to 16th after pulling a two-point victory over Nicholls State. And Clemson fell from 2nd to 5th after a four-point win over Troy.The University of Texas, The University of Oklahoma and Baylor University all stayed in the rankings.UT leads the Big 12 at No. 11. Followed by No. 14 OU and then No. 21 Baylor.Coming in at the top of the rankings is No. 1 Alabama.Alabama received 56 out of 61 first-place votes to keep their spot on top.But, there is still a lot of college football to be played.Especially this week. Ranked teams will once again be playing each other, which will cause shifts in the rankings once the weekend is over.No. 1 Alabama is taking on No. 19 Mississippi. The No. 1 and No. 2 teams in the AP all-time rankings are playing each other: No. 3 Ohio State at No. 14 Oklahoma. And rivals who have not met since 2013 are meeting again: No. 12 Michigan State at No. 18 Notre Dame.It’s a good week for college football.TCU will also play to a homecoming and parents weekend crowd this week on Saturday, Sept. 17 when they take on Iowa State. Kick-off is at 11 a.m in Amon G. Carter Stadium. TAGStext only TCU baseball finds their biggest fan just by saying hello Support for seniors on Senior Day Twitter Another series win lands TCU Baseball in the top 5, earns Sikes conference award + posts Facebook Kacey Bowenhttps://www.tcu360.com/author/kacey-bowen/ ReddIt Kacey Bowen Facebook Kacey is a junior journalism major from Friendswood, Texas. She is a managing editor for TCU360.center_img TCU falls to Georgia in AutoZone Liberty Bowl TCU falls to Arkansas in double overtime. (photo courtesy: gofrogs.com) Kramer claims 100th career win TCU rowing program strengthens after facing COVID-19 setbacks Kacey Bowenhttps://www.tcu360.com/author/kacey-bowen/ Linkedin Linkedin Twitter Kacey Bowenhttps://www.tcu360.com/author/kacey-bowen/ TCU vs Georgia: “Playing to win” ReddIt Kacey Bowenhttps://www.tcu360.com/author/kacey-bowen/last_img read more

#Video: Getting a “Hold On” Limerick

first_imgWhatsApp Limerick’s National Camogie League double header to be streamed live Twitter Linkedin Previous articleScott’s Bar calls last ordersNext articleGAA – Limerick GAA weekly fixtures Staff Reporterhttp://www.limerickpost.ie Print Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” TAGSCiara JaffrayDance ULlimerickLimerick City and County CouncilNina PongratzScott RobinsonUniversity of Limerick RELATED ARTICLESMORE FROM AUTHOR LifestyleArtsEntertainmentFilmNewsLocal News#Video: Getting a “Hold On” LimerickBy Staff Reporter – June 9, 2015 687 center_img Advertisement Vanishing Ireland podcast documenting interviews with people over 70’s, looking for volunteers to share their stories Facebook A Dance Film choreographed by Nina Pongratz and assisted by Ciara Jaffray filmed in Limerick City.Sign up for the weekly Limerick Post newsletter Sign Up Filmed and Edited by Scott Robinson.A project funded by  Limerick City & County Council and with thanks to Dance UL Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Email WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Limerick Ladies National Football League opener to be streamed livelast_img read more

FirstBank Puerto Rico Brings RES.NET Onboard to Streamline Operations

first_img About Author: Staff Writer Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago October 25, 2018 2,191 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago FirstBank Puerto Rico Brings RES.NET Onboard to Streamline Operations Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Bianca Torres Roman First Bank Puerto Rico firstbank puertorico Housing Market Kieth Guenther Mortgage Industry Originations RES.NET Related Articles FirstBank Puerto Rico has announced that it has enlisted RES.NET—a technology platform allowing mortgage bankers, investors, vendors, consumers, and other parties to communicate around a real estate transaction—to develop and deploy a new online marketplace showcasing the bank’s diverse portfolio of available assets. The new digital marketplace is also meant to engage a broader audience of potential buyers and investors than currently available. The platform was built in Spanish so as to accommodate the widest range of buyers.Shortly after FirstBank Puerto Rico selected RES.NET as the operating platform to assist with the disposition of its Other Real Estate Owned (OREO) properties, the devastation from Hurricane Maria presented a new set of unforeseen challenges. In response, the bank and RES.NET issued a joint call to action, expediting the development and deployment of their new marketplace so as to quickly adapt to the new situation.“Following Hurricane Maria, it became urgently important to streamline the bank’s OREO process and workflow while simultaneously enhancing the visibility of the bank’s available assets to a broader audience,” said Bianca Torres Román, VP of FirstBank Puerto Rico. “Within just one month of launching the new Buyer’s Marketplace, the unique number of visitors seeking information on our available properties more than tripled. Today, we are now reaching prospective buyers not just in Puerto Rico and the immediate region, but across the United States.”In addition to the Buyer’s Marketplace, the bank has implemented RES.NET’s Real-Estate-Owned (REO), Agent, Vendor, and Property Preservation portals to automatically track and manage its portfolio. Bank employees can now manage the entire process from the time a foreclosure has been conducted through the sale and closing. The new process is meant to herald the automation of multiple workflows, work cues, offer-management tools, and notification features.“With RES.NET, the complete portfolio can be viewed via the dashboard, providing real-time data and a more holistic view of our assets,” Torres continued. “Having access to this data is invaluable and helps ensure we are positioned for success in the future. Launching the Buyer’s Marketplace in combination with deploying our operating platforms is a pivotal moment for the bank’s OREO success.”“I am very pleased with the work we’ve accomplished together with the team at FirstBank Puerto Rico,” said Keith Guenther, Found and CEO of RES.NET. “It is the combined dedication of both our teams that allowed this large-scale development and implementation to occur in less than six months. We worked closely with the bank’s staff to scope and develop this customized marketplace to assist in connecting with potential buyers within Puerto Rico, as well as outside of the territory.” Home / Featured / FirstBank Puerto Rico Brings RES.NET Onboard to Streamline Operations  Print This Post Previous: Citadel Launches New Product Next: US Bank: The Legal Challenges of Default Servicing The Best Markets For Residential Property Investors 2 days ago in Featured, Headlines Bianca Torres Roman First Bank Puerto Rico firstbank puertorico Housing Market Kieth Guenther Mortgage Industry Originations RES.NET 2018-10-25 Staff Writer Subscribe Share Save Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

Federal Financial Agencies Announce Flexibility in Mortgage Servicing Rules

first_img Tagged with: Forbearance Government Servicing Previous: FHFA to Re-Propose Financial Requirements for GSEs Next: How Lockdowns are Impacting Minority Homeowners The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Forbearance Government Servicing 2020-06-15 Seth Welborn Jason R. Bushby and Jonathan R. Kolodziej are partners and Nicole B. Jones is an associate in the Banking and Financial Services Practice Group at Bradley Arant Boult Cummings LLP. Jason can be reached at [email protected] Jonathan can be reached at [email protected] Nicole can be reached at n[email protected] Annual Escrow StatementsIn efforts to mitigate the typically high call volume associated with borrower questions surrounding receipt of annual escrow statements, the agencies do not intend to take supervisory or enforcement action against servicers for delays in sending annual escrow statements, as long as servicers make good faith efforts to send the statements within a reasonable time.TakeawaysThe agencies’ release is clearly good – though not necessarily earth-shattering and game-changing – news for mortgage servicers. Based on our review of the agencies’ release, servicers should be mindful of the following takeaways:Although the joint statement provides guidance concerning the CARES Act and notes additional flexibility, it does not impose any new regulatory requirements on servicers. For example, small servicers, as defined by Regulation X, are not subject to many of the requirements in the rules described in the statement. And a servicer does not need to comply with the early intervention requirements of Regulation X if a borrower is not considered delinquent for purposes of those requirements.The statement resolves any lingering questions surrounding the CFPB’s view of what constitutes an incomplete loss mitigation application. In the statement, the CFPB asserts conclusively that, as a part of a servicer’s CARES Act forbearance process, a conversation with a borrower, wherein the borrower expresses interest in a forbearance plan and attests to his or her hardship, constitutes an incomplete loss mitigation application under the rules, triggering additional CFPB notice and process requirements. We have previously encouraged servicers to be mindful in recognizing when verbal borrower assistance requests meet the definition of loss mitigation applications under Regulation X.While the flexibility provided by the agencies is helpful, the agencies do not provide clear guidance as to the manner in which a servicer can take advantage of the flexibility. Put another way, it simply isn’t clear how the CFPB will interpret whether a servicer has made “good efforts” to provide the requisite notice or conduct the requisite action “within a reasonable timeframe.”While the guidance provides relief to servicers concerning agency supervision and enforcement, servicers should be aware it does not address any applicable civil liability attached to violations of the above-mentioned rules. Unless and until the agencies release guidance providing, for example, a moratorium on civil liability provisions, servicers should be aware of the potential litigation risk attached to delaying compliance of certain CFPB notices and processes in accordance with the agencies’ release. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago in Commentary, Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Federal Financial Agencies Announce Flexibility in Mortgage Servicing Rules Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Recently, the Consumer Financial Protection Bureau (CFPB), Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC) and the State Banking Regulators released a joint statement announcing increased flexibility in the agencies’ regulation and enforcement of certain mortgage servicing rules governing borrower communications in response to the COVID-19 emergency. The agencies also provided corresponding FAQs to further clarify the new approach and provide additional guidance to servicers in light of the short-term payment forbearance option included in the recently passed CARES Act.The statement provides the following guidance and flexibility under the rules, effective as of April 3 and until further notice:Acknowledgment NoticesUnder existing Regulation X rules, servicers may offer borrowers short-term assistance without obtaining a complete loss mitigation application. A CARES Act short-term forbearance, which can be obtained solely by request and affirmation of hardship, falls within this category. The statement clarifies that requests for short-term options are considered incomplete loss mitigation applications under the rules and will require the standard acknowledgment notice, which is ordinarily required within five days of receipt of the application (12 CFR 1024.41(b)). The statement clarifies that if a servicer offers or provides a short-term option, agencies “do not intend to take supervisory or enforcement action” against servicers for providing the required notice after the five-day mark, provided the notice is sent before the end of the applicable short-term plan or program period.Loss-Mitigation, Live Contact, and Early InterventionOutside of short-term options, the current rules require that when a borrower submits a standard loss mitigation application, servicers must provide a series of notices at specific intervals. Similarly, for delinquent borrowers, servicers must attempt both live and written contact on a standardized timeline. Concerning those requirements, and regardless of whether borrowers are experiencing hardship, the agencies will provide similar leniency and do not intend to take supervisory or enforcement action against servicers for:Delays in sending certain loss-mitigation notices under Regulation X, including the five-day acknowledgment notice, 30-day evaluation notice, and the appeals notice, as long as the servicer makes a good faith effort to provide the notices and take the corresponding actions required under the rules within a reasonable time (see 12 CFR 1024.41 (b)-(d), (h)(4), and (k));Delays in making or attempting to make live contact with delinquent borrowers as required, as long as servicers make good faith efforts to establish contact within a reasonable time (see 12 CFR 1024.39(a)); andDelays in sending the 45-day written early intervention letter to delinquent borrowers, as long as good faith efforts to provide the notice are made within a reasonable time (see 12 CFR 1024.39(b)). Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post About Author: Jason R. Bushby and Jonathan R. Kolodziej June 15, 2020 11,748 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Home / Commentary / Federal Financial Agencies Announce Flexibility in Mortgage Servicing Rules Subscribelast_img read more

Two men being questioned over Ronan Kerr murder to be held for another five…

first_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Pinterest WhatsApp Two men being questioned over Ronan Kerr murder to be held for another five days Twitter News Guidelines for reopening of hospitality sector published WhatsApp RELATED ARTICLESMORE FROM AUTHOR Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Police have been given more time to question two men arrested over the car bomb murder of Northern Irish policeman Ronan Kerr.The 25-year-old Catholic Constable died in a blast outside his Omagh home on Saturday.A 26-year-old man and a 40-year-old man will be quizzed bypolice for up to another five days.center_img Previous articleIndependent review into deaths of three soldiers killed in Lebanon 22 years agoNext articleSpeed Camera van burned out in Inishowen News Highland Calls for maternity restrictions to be lifted at LUH Pinterest Google+ Facebook By News Highland – April 8, 2011 Facebook Google+ Twitter Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

Mac Lochlainn says FF should have made broadband a redline issue in government talks

first_img By admin – May 1, 2016 RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNews Previous articleUlster Senior League resultsNext articleDonegal All County League Results admin Twitter Pinterest Facebook Further drop in people receiving PUP in Donegal WhatsApp Google+ Padraig MacLochlainn who narrowly lost out on a seatDonegal Deputy Charlie Mc Conalogue is being challenged to explain why he is prepared to prop up a Fine Gael led government, while at the same time criticising the party for the delays in implementing the National Broadband Strategy.Senator Padraig Mac Lochlainn says Deputy Mc Conalogue was one of the four Deputies who were part of Fianna Fáil’s negotiating team in the recent talks with Fine Gael, but seems not to have identified broadband as a key issue in those talks.Senator Mac Lochlainn says if Deputy McConalogue really believes Fine Gael’s performance is an ‘an absolute disgrace’, as his weekend statement suggests, then he and Fianna Fail should have made broadband a redline issue at the negotiations…………….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/05/podwebsun.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. 75 positive cases of Covid confirmed in North center_img Mac Lochlainn says FF should have made broadband a redline issue in government talks Facebook Pinterest WhatsApp Google+ Gardai continue to investigate Kilmacrennan fire Main Evening News, Sport and Obituaries Tuesday May 25th Man arrested on suspicion of drugs and criminal property offences in Derry Twitter 365 additional cases of Covid-19 in Republic last_img read more