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Posted by: | Posted on: May 31, 2021

Q3 Mortgage Revenue Drivers

first_img About Author: Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Q3 Mortgage Revenue Drivers Tagged with: Citigroup Home JPMorgan Chase Lending mortgage Wells Fargo The top big banks of the U.S. – JPMorgan Chase, Citigroup, and Wells Fargo announced their third-quarter earnings for 2018 on Friday. All the three banks posted an increase in revenue, led by an increase in consumer lending.However, while Wells Fargo’s home lending business saw an increase, with its mortgage banking income increasing to $846 million in Q3, from $770 million in Q2, home lending at JPMorgan Chase decreased 16 percent to $1.3 billion  driven by lower net servicing revenue, as well as loan spread and production margin compression, the bank said in its earnings statement.Citigroup said that excluding mortgage, its retail banking revenues increased 1 percent, driven by continued growth in deposit margins and investments, “largely offset by lower episodic transaction activity in commercial banking.”Overall income at all the three banks saw an increase in the third quarter. While JPMorgan’s income posted a 24 percent increase to $8.4 billion, Wells Fargo said that its net income had increased to $6 billion, compared with $4.5 billion in the third quarter of 2017. Citi reported a net income of $4.6 billion compared with $4.1 billion during the same period a year ago.”In the third quarter, we continued to make progress in our efforts to build a better Wells Fargo with a specific focus on our six goals: risk management, customer service, team member engagement, innovation, corporate citizenship, and shareholder value,” Tim Sloane, CEO, Wells Fargo said in a statement. “We are strengthening how we manage risk and have made enhancements to our risk management framework. We also continued to make progress on customer remediation, which is an important step in our efforts to rebuild trust.”Speaking about the macroeconomic factors that are likely to impact the market in the long run, Jamie Dimon, CEO, JPMorgan Chase said that the U.S. and the global economy continued to show strength despite increasing economic and geopolitical uncertainties which “at some point in the future may have negative effects on the economy.”Additionally, he said that JPMorgan Chase had delivered strong results this quarter with top-line growth in each of its businesses. “In Consumer & Community Banking we attracted record net new money this quarter, driving client investment assets up 14 percent, and we saw continued double-digit growth in card sales and merchant processing volume. Our customer satisfaction across CCB is at or near all-time highs, and we continue to grow deposits faster than the industry, even as the pace slows with rising rates.” Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago October 12, 2018 1,524 Views Home / Daily Dose / Q3 Mortgage Revenue Drivers Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img  Print This Post Related Articles in Daily Dose, Featured, News, Servicing Servicers Navigate the Post-Pandemic World 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Citigroup Home JPMorgan Chase Lending mortgage Wells Fargo 2018-10-12 Radhika Ojha Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Homeowners and Rising Interest Rates Next: After Hurricane Michael’s Landfall …last_img read more

Posted by: | Posted on: September 28, 2020

Huge number of bidders line up for Gold Coast apartment

first_img 3/17 Broadbeach Boulevard, Broadbeach.“The response to this property over the last three weeks has been nothing short of record breaking,” marketing agent Tolemy Stevens of Harcourts Coastal said.“We had over 70 inspections which led to 33 cash bidders.“The auction started at $500,000 and eventually sold under the hammer for a record price of $960,000.“It sold well in excess of the reserve.”The block is tightly-held – the last sale in the building was $652,500 in 2015. 3/17 Broadbeach Boulevard, Broadbeach.Mr Stevens said the apartment’s appeal was widespread.“It’s just such a nice all round opportunity,” he said.“It appeals to all buyer demographics including first home buyers, renovators, owner-occupier, as a holiday home, a returning investment or potential for a landhold for redevelopment down the track. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:31Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:31 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenIs it a good time to list?02:31COVID-19 is not deterring house hunters on the Gold Coast with 33 bidders battling for a Broadbeach apartment at auction, with the hammer coming down just shy of $1 million.The property, a “neat and tidy” two-bedroom residence at 3/17 Broadbeach Blvd, sold for a building record of $960,000. 3/17 Broadbeach Boulevard, Broadbeach.The unit block, named Pacific Sound, is a block of only six apartments – apartment 3 is on the second floor and has an easterly aspect with spectacular ocean views.More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoIt was built in the 1960s with units well-maintained but in mostly original condition.“The building is very sought after and ticks a lot of boxes so I always knew it would attract a lot of interest however I certainly wasn’t prepared for the sheer volume and active number of cash buyers that were trying to secure the property.” 3/17 Broadbeach Boulevard, Broadbeach.Mr Stevens said he believed Queensland’s low numbers of COVID-19 when compared to NSW and Victoria was only fuelling demand for property.“A result like this is a testament to Queensland’s low numbers of COVID-19,” he said.“A lot of interstate buyers are seeing the Gold Coast as a bit of a safe haven and seeing the Gold Coast as secure spot to invest their money.“Of the nine registered phone bidders we had at Wednesday’s auction, five of them were from Sydney and Melbourne.”last_img read more

Posted by: | Posted on: September 17, 2020

USC fires O’Neill after three-plus seasons

first_imgAmid year four of a tenure that endured the worst in school history, USC men’s basketball coach Kevin O’Neill is gone. O’Neill was fired on Monday during a morning meeting, USC Athletic Director Pat Haden announced in a statement.O’Neill finishes his USC tenure with a 48-65 record, with last season’s abysmal record and this year’s slow start likely contributing to his dismissal. USC battled a rash of injuries while finishing 6-26 (1-17) in 2011-12, and is currently 7-10 on the year, with a 2-2 record in Pac-12 play.KO’d · USC Athletic Director Pat Haden announced Monday that he was relieving coach Kevin O’Neill of his head coaching duties. In a little more than three seasons at the helm at USC, O’Neill compiled an overall record of 48-65. – Carlo Acenas | Daily TrojanAssociate head coach Bob Cantu will take over as the interim head coach. Cantu has been with the team since 2000 and was promoted to associate head coach in 2010.O’Neill took over the USC job in the summer of 2009 in the wake of an NCAA investigation of the program under previous coach Tim Floyd. Despite facing adversity stemming from the program’s sanctions, which included a postseason ban, the Trojans finished 16-14. O’Neill had his most successful season in 2010-11, going 19-15 and earning an NCAA tournament berth. The Trojans were defeated in the first round by Virginia Commonwealth.Things went downhill from there. Last season, USC’s top returning player, senior point guard Jio Fontan, tore his ACL during a summer team trip to Brazil. Fontan missed the entire season, while other heavy contributors in forwards Dewayne Dedmon and Aaron Fuller, among others, missed significant time also because of injury. The Trojans’ 26 losses that season were the most in school history and presumably put O’Neill on the hot seat heading into this fall.The Trojans had high hopes for 2012-13, as USC brought in a slew of transfers, including senior forward Eric Wise from UC Irvine and arguably the top junior college transfer in the country in junior J.T. Terrell, a former Wake Forest standout. The talent was improved over the prior season, but the early results were all too similar.After starting the season 3-1, the Trojans lost five in a row in a difficult non-conference stretch that included losses to three ranked teams.“We overscheduled,” Cantu said. “We should have had more bye games in there.”At 5-8, the Trojans were the only Pac-12 squad to finish with a losing record in non-conference play. USC won its Pac-12 opener against Stanford, but then dropped winnable games against Cal and Colorado. The Trojans defeated Utah 76-59 on Saturday, but the team’s first road victory in nearly 14 months was not enough to save O’Neill’s job.At the end of the day, it came down to winning: something O’Neill was not able to do enough of during his tenure.“It was hard for me to evaluate him as a head coach until this year when he had enough players and veterans to compete,” Haden said in the statement. “As the season progressed, it became evident to me that we needed new leadership in our men’s basketball program.”O’Neill is known for his loud and witty personality but also became infamous for an altercation with a University of Arizona booster in March 2011. O’Neill was previously the interim head coach at Arizona for one season as well as head coach of the NBA’s Toronto Raptors, among other NBA and college stops.“He’s someone I’ll hopefully remain in contact with for the rest of my life,” said Fontan, who called O’Neill this morning after learning of his firing. “He taught me a lot on what it takes to be a pro at the next level, about going through life changes and how you just fight through a lot of things.”Wise, the team’s leading scorer, also expressed surprise at the decision.“It was shocking, but it’s just something you have to go through and we all have to deal with,” Wise said.Cantu has never been a head coach at the college level outside of one game after O’Neill’s suspension in 2011, and was mum on whether he thinks he’ll be considered for the position over an outside replacement.“As an assistant, your goal was always to become a head coach,” he said. “It’s always been my goal, [but] you never envision it happening this way, that’s for sure.”The Trojans are only four games into their Pac-12 slate, giving Cantu almost half a season to make his mark.“There are 14 games left and there are a lot of things that can happen,” Cantu said. “Anything is possible.”last_img read more

Posted by: | Posted on: August 26, 2020

Miller: Clippers, Three Stooges and the NBA playoffs

first_imgBut it is worth noting that it was forward Blake Griffin, in recently disputing the notion that the Clippers are somehow damned, who chose to use the word “cursed.”When Ballmer purchased the team for a gaudy $2 billion, he infused the Clippers with the sort of buzzing energy that normally comes only with a second Starbucks stop.In August of ’14, during an introductory pep rally, that energy famously bubbled over, not unlike the sweat that streamed down Ballmer’s temples that afternoon.“Larry” was his loving way of referring to the Larry O’Brien Trophy, which the NBA hands annually to its champion, meaning the Clippers never have been close enough to know if it’s made of some sort of metal or, who knows, milk chocolate.Despite the lack of playoff success, Ballmer, similar to his team, is not difficult to like. Sitting here along the baseline, he comes off as somewhat of a regular fan – rabid but regular – at least for a guy whose net worth is estimated at $30.1 billion.Let’s think about the figure for just a second. Forbes magazine says there are only 34 people in the world richer than Ballmer, who could buy Rams owner Stan Kroenke four times over.As another comparison, Angels owner Arte Moreno is worth $2.1 billion. Ballmer finds things like Arte Moreno in between his couch cushions.Forbes also reports that Ballmer owns 4 percent of Twitter, which might not sound like much.But when you consider all the people you know who are on Twitter and the fact that, according to multiple news accounts, nearly 80 percent of its users are living outside the U.S., that’s no shortage of international clout.Anyway, I find Ballmer and the Clippers easy to root for, and not just because this group is the perfect Hollywood stereotype of the underdog. I mean, who pulls for a team that never wins anything to keep never winning anything?The Clippers make generally humorous and completely harmless television commercials.Griffin never has been more embraced by the organization than he has been this season, still barely a year after breaking his hand punching another team employee.Jordan has his body covered in tattoos that express his deep faith, including a pair of praying hands on his torso marked with an acronym for “God Watch Over Me.”Then there’s Chris Paul, widely considered to be one of the finest leaders in NBA history, a dynamic overall talent and a man with too many charitable efforts to list here, although I will mention he built a house in South Africa for orphans.They’re all coached by Doc Rivers, a former All-Star point guard known for his competitive natural who took the occasion of this series opening to announce he has a “man crush” on Gordon Hayward, the star of the Jazz.It has been awhile, but I don’t recall Phil Jackson ever talking publicly about his man crushes, and, never mind opponents, I mean the players Jackson actually was coaching.Sure, the Clippers still complain to the referees way too much and Griffin flops way too often. But you try playing on a team that ends every season in a fit of frustration.So I am pulling for the Clippers against Utah, convinced this is a series they absolutely should win.After that, comes round two and likely – Ah, uh-oh! – the Golden State Warriors.No, “Larry” won’t be visiting Staples Center anytime soon. But “Curly” and “Moe” are long gone, too, despite the fact someone else around here, once again, will laugh [email protected] LOS ANGELES >> It was in this same building, in August of 2014, that a man as bold as he is bald shrieked about his undying affection for “Larry.”Steve Ballmer also promised his Clippers would “keep coming and coming and coming and coming and coming,” the rambling battle cry interrupted only by his shouted assurances the team would be “Hard-core! Hard-core! Hard-core!”Staples Center shook that day, rattled by the thundering decibels produced by a single-person seismic event.Thirty-two months later and now opening the 2017 playoffs against Utah, there’s still no sign of “Larry,” the Clippers instead dragging around “Curly” and “Moe” and however else you’d like to express this franchise’s miserable slapstick past. They gave up home court advantage Saturday in a 97-95 loss to the Utah Jazz.Same old Clippers? Well, no, not at all. They are in the postseason for the sixth consecutive year and just finished with 51 victories, same as the defending champion Cleveland Cavaliers. This franchise once went 15 seasons without making the playoffs, a spiral into oblivion during which it moved from Buffalo to San Diego to Los Angeles, a break that wasn’t exactly fast but was – on the court, at least – fruitless.Still, there’s no denying that the Clippers never have advanced beyond two rounds of playoffs in any one season, an almost impossible degree of ineptitude that some people might characterize as being hexed.I’m not one of those people, since I always see the basket as nearly half-full, which, no, is not another joke about DeAndre Jordan’s career 43-percent free-throw shooting.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more