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Home / Daily Dose / Credit Unions are Having Trouble Closing with TRID Previous: Fed Says April Rate Hike is All But Off the Table Next: Why are Millennials Locked Out of the Housing Market? Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Closing Delays Mortgages TRID Credit Unions are Having Trouble Closing with TRID Demand Propels Home Prices Upward 2 days ago About Author: Scott Morgan Governmental Measures Target Expanded Access to Affordable Housing 2 days ago While most everyone knew TRID regulations would result in delays, not many expected those delays to be so sweeping. The results of a study released Wednesday by Washington, D.C.-based Callahan & Associates found that a whopping 96 percent of the 200-plus credit union executives the company surveyed across 46 states reported closing delays related to TRID over the past six months.Callahan found a variety of reasons at the heart of the delays. Half cited new lender workflow between title companies and members, as well as refinement of processes of procedures as the primary cause of closing delays. A quarter cited compliance issues related to settlement, systems, members, and mortgage disclosure. Sixteen percent said that their own mortgage loan origination and core processing systems were not fully equipped to handle necessary updates, while 6 percent said their members were unable to provide documentation and other information in a timely manner.Additionally, open-ended survey responses noted timing issues with disclosures, difficulties integrating mortgage origination systems with core processors, and challenges with title companies, realtors, and other settlement agents, Callahan stated.All told, more than half of the respondents said new TRID regulations have added five or more days to mortgage closing, while the average number of days to close, according to respondents is 42. The industry’s ideal average closing goal is 31 days.Despite the delays, the vast majority of respondents said closing issues were generally easy to handle. Nearly 80 percent said they are able to deliver disclosures quickly, with 20 percent saying they deliver three days before the mortgage closing, the absolute deadline for delivering disclosures.For most credit unions, the portfolio and secondary markets are significant origination factors, Callahan found. Eighty-three percent of respondents, in fact, said they originate loans to hold in their portfolio. But more two-thirds also actively originate for sale to the GSEs. A minority of respondents — 11.3 percent — said they solely originate for sales to GSEs. Closing Delays Mortgages TRID 2016-04-06 Scott Morgan Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. April 6, 2016 1,018 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles
[Shared Parenting] ‘Child Isn’t An Appendage Of Parents’, Karnataka HC Invokes An Emerging Concept In A Dispute Over Child Custody [Read Judgment]
News Updates[Shared Parenting] ‘Child Isn’t An Appendage Of Parents’, Karnataka HC Invokes An Emerging Concept In A Dispute Over Child Custody [Read Judgment] Sparsh Upadhyay17 Sep 2020 7:06 AMShare This – xWhile deciding the question of custody of a minor child in a matter, the Karnataka High Court on Friday (11th September) referred to the principle of Shared Parenting which is defined to include shared parenting authority as well as shared parenting responsibility in the day-to-day upbringing and the welfare of the children.The Division Bench Comprising Justice B. V. Nagarathna and Justice N….Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginWhile deciding the question of custody of a minor child in a matter, the Karnataka High Court on Friday (11th September) referred to the principle of Shared Parenting which is defined to include shared parenting authority as well as shared parenting responsibility in the day-to-day upbringing and the welfare of the children.The Division Bench Comprising Justice B. V. Nagarathna and Justice N. S. Sanjay Gowda observed,”It is necessary to remind ourselves that a child requires both, the mother and the father in jointly bringing up the child which would have a holistic impact on the overall growth of the child.”The Court further remarked,”This is because both parents have a joint responsibility in bringing up their children as each parent would contribute in a unique way to the mental, physical and emotional/psychological development of the child. Hence, whenever there is a separation between the parents, shared parenting would mean that the joint responsibility would continue subject to certain arrangements being put in place.”The background of the caseThe Court was hearing the appeals preferred by the wife and husband respectively assailing order dated 21.11.2014 passed in G.& W. case No.101 of 2012 by the III Additional Principal Judge, Family Court, Bengaluru.The said petition was filed by the wife (mother of minor child Aditya Rajiv Ratnam) under Sections 7 and 17 of the Guardians and Wards Act, 1890 (hereinafter referred to as ‘the Act’ for the sake of brevity) seeking appointment of herself as guardian of the minor child and to grant permanent custody to her. The said petition was contested by the husband/father of the child.The Family Court declared the mother as the guardian of the minor child Master Aditya Rajiv Ratnam and that the child shall continue to be under the care and custody of the mother.However, certain directions were issued regarding visitation rights for the respondent/father. Being aggrieved, both the parents of the child have preferred their respective appeals.The centre of controversy, which also was also a factor which caused a delay in the settlement of disputes between the parties in the instant case, was regarding custody of the minor child, Master Aditya Rajiv Ratnam.It may be noted that the parties were granted a decree of divorce by mutual consent by judgment dated 27/08/2020 subject to the terms agreed upon by them.Court’s ObservationThe Court was of the view that whenever the husband and wife seek to dissolve their marriage, the conflict over the custody of the child, particularly a minor child assumes significance.The Court took into account the fact that whenever there is opposition by a party for giving custody of the child to another party and vice versa, the conflict can become extreme and aggravated sometimes resulting in dilution of any settlement that could be arrived at between the parties to seek dissolution of their marriage.The Court also stressed that one cannot underestimate the fact that in the case of separation of parents on account of the dissolution of marriage by a decree of divorce, the children of the marriage are most affected physically, emotionally and their upbringing would take a beating.In this context, the Court remarked,”One of the ways to resolve the conundrum is, by the emerging concept of shared parenting. In some overseas jurisdictions, the concept of shared parenting has been in vogue and prevalent but not so well entrenched in India and has been ordered only in a handful of cases.”Notably, the Court said,”There is clear momentum in law towards shared parenting with the child in focus and the rights of the child being the over-riding factors rather than the rights of the separated parents. It would be ideal if the parents jointly submit a plan for shared parenting. In the alternative, the Court must exercise its parens patriae jurisdiction.”The Court acknowledged that fact that the jurisprudence on the custody of the minor children of separated parents has evolved over the decades and both parents are recognized as having equal responsibilities in the custody of their children and thus, the concept of shared parenting is gradually emerging in the legal firmament of India also.Also, the Court was of the view that the expression ‘best interest’ and ‘welfare of the child’ must be imbibed in the context in which the child is positioned between the parents. The facts and circumstances of each case would vary and what is good in one case, may not be good in the other case and vice versa.Significantly, the Court was of the view that,”The welfare principles which are in the interest of the child, assume importance. Therefore, prior to the passing of the decree of divorce, it is necessary to seek a parenting plan post-divorce from the parties themselves.”Further, while elaborating on the concept of Shared Parenting, the Court made the following observations:-* While preparing a joint parenting plan, care must be taken so that there is no instability or inconvenience caused to the child. Also the expression “joint” or “shared” would not mean mathematical exactitude or precision, as there must be pragmatism and innovation required at every stage.* The personal profile of the parent, their educational qualification, residence, economic and social status, etc., would be important factors while developing the joint parenting plan. As there is no legislation as such in India on shared parenting, the same must evolve with judicial interference, innovation and involvement in assessing the requirements of each child.* Over a period of time, the concepts of custody and visitation rights have transformed themselves into the responsibility of parents towards children.* A central theme of this transformation is the emphasis on parental responsibility which requires that the child should be treated as an individual having his or her own capabilities and limitations as well as independent opinions.* A child is not an appendage of his parents. The focus of attention must actually be on the child.Subsequently, the Court directed that shared parenting of the minor child between the parents would be in the following manner until the child attains eighteen years of age:-* At the beginning of the new academic year, assuming, that it commences on 1st June, two days prior to the commencement of the school, the child will move to the father’s residence and be with the father till 31st October. From 01st November, the child will be with the mother till 31st March or till the commencement of the summer vacation, whichever is later.* When the summer vacation commences, fifty per cent of the said vacation shall be spent by the child with the father in the initial part of the vacation and the subsequent period of the summer vacation will be spent with the mother (similar arrangement to continue during winter vacations)* Thus, during the months from June to October (five months), the child will be with the father and during the months from November to March (five months), the child will be with the mother.* During the aforesaid period, when the child is in the residence of one of the parents, the court said that other parent would have visitation rights, once in two weeks.* All information regarding the health of the child as well as information concerning the school and co-curricular activities, etc., shall be exchanged between the parents.* Both parents must ensure that the child is comfortable and at ease when residing with one of the parents or visiting the other parent. All care must be taken by the parents to ensure the psychological, social, educational and over-all growth and development of the child. In this regard, there must be a joint effort and co-operation between the parties.* The child’s birthday shall be celebrated by the parents jointly, as far as practicable or a consensus could be arrived at in consultation with the child.[We have not included all the directions issued by the Court, however, the important directions have been mentioned in this story.]Lastly, the Court said,”We hope and trust that the aforesaid directions would be scrupulously obeyed by the parents as we think they are in the best interest of the child and keeping in mind comfort, ease and the paramount interest of Aditya, the aforesaid directions have been issued. The same are made after eliciting the views of the minor child Aditya.”Click Here To Download Judgment[Read Judgment] Next Story
On Friday night, The Revivalists kicked off their three-night hometown throwdown at the Orpheum Theatre in New Orleans, LA. As per new tradition, the first night was dedicated to their loyal fanbase, affectionately dubbed “RevHeads”, for an intimate evening with all those who purchased a three-night pass. The RevHeads Ball featured the band performing on the ground level, with a slightly elevated round stage in the middle of the room. With a select number of die-hard fans surrounding the band in all directions, the setting made for a very special evening of acoustic favorites, sing-along anthems, and even some unrecorded tunes and rarities, like “Mary Joanna” from the band’s 2008 debut record. The band also invited a newly-engaged couple to sit in the middle of the stage, to enjoy “Shoot You Down” during the encore, which was followed by “Wait For The Sun”–two songs that are not recorded in any official Revivalists’ discography.The Revivalists are full of surprises and will continue the party tonight to close out what’s been their best year yet. We can’t wait to see what’s in store for The Revivalists in 2018!Enjoy the gallery below, courtesy of photographer Adam McCullough.Setlist: The Revivalists | Orpheum Theatre | New Orleans, LA | 12/29/17Men Amongst Mountains, Chase’s House, Nobody Knows, Not Turn Away, Stand Up, Mary Joanna, It Was A Sin, Pretty Photograph, Keep Going, Wish I Knew You, Wild Flowers (Tom Petty)E: Shoot You Down, Amber, Wait For The SunThe Revivalists | Orpheum Theatre | New Orleans, LA | 12/29/17 | Photos by Adam McCullough Load remaining images
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York An accused drugged driver died after allegedly causing a crash that killed a 26-year-old woman in Northampton on Friday afternoon, Southampton Town Police said.Brendon McKee, 24, of Center Moriches, was driving a Toyota Scion northbound on Lake Avenue when he crossed over the double yellow lines, sideswiped a GMC SUV and then crashed head on into a Nissan Altima at 2:23 p.m., police said.The driver of the Nissan, Courtney Pivirotto, of Eastport, was pronounced dead at the scene.McKee was airlifted to Stony Brook Hospital, where he died of his injuries. He was charged with driving while under the influence of drugs before he died.Detectives are asking anyone with information about this crash to call them at 631-702-2230.
Italian defined contribution provider Arca Previdenza intends to grow its exposure to Italian minibonds, as it sees value in the asset class’s illiquidity.Speaking in the upcoming issue of IPE magazine, Marco Vicinanza, deputy investment director at the €2.6bn institution, says it views the nascent market for the funding of small and medium-sized enterprises (SMEs) as more attractive than high-yield bonds or bank loans.“To us, a good example of value in illiquidity is Italian minibonds, an asset class that has shown strong growth, with many small to medium-sized issuers coming to the fore in recent months,” Vicinanza says.“We see investing in SME credit as an important opportunity. It represents both a chance to provide structural support to the Italian economy and a way to provide our clients with the benefits of long-term investments that match their profiles.” Industriens Pension, the Danish pension provider, sees greater value in high-yield bonds and bank loans – to which it has allocated more than 10% of its portfolio – but portfolio manager Fredrik Frei Rast is uncertain how much it will grow exposure in future.He says both markets have been “particularly crowded in [recent] years”, which has presented the fund with hurdles when investing.He also sees the more illiquid spectrum of the fixed income market as attractive.“They carry a premium compared with the more liquid side, and the floating rate is attractive in a low interest rate environment,” he says. For more on high-yield bonds and loans from Vicinanza, Frei Rast and Pierre Jameson, CIO of the Church of England Pension Scheme, see the October issue of IPE
MEGHAN CONLIN/Herald PhotoThe Wisconsin women’s hockey team, currently the No. 1-ranked team in the country, is on top of its game right now, with an unbeaten streak of 12 games.They will need to keep that same focus and drive if they want to extend that streak when they take on St. Cloud State this weekend. St. Cloud is riding a lot of momentum after sweeping their past two series, one against lowly North Dakota and the other against No. 4 Minnesota-Duluth. “Well, they’re obviously playing with a lot of confidence after having four-straight wins,” UW head coach Mark Johnson said of St. Cloud State. “It’s a good time to be challenged. It’s a good opportunity for our hockey club to go on the road and play against some really good competition … against a team that is confident and playing well, [so we’ll] see how well we respond.”St. Cloud senior forward Kristy Oonincx and junior goaltender Lauri St. Jacques both received Player of the Week honors for their roles in sweeping Minnesota-Duluth last weekend. Oonincx netted three goals, including both game-winning goals, and an assist in the series. She now has 34 points on the season, good for third in the conference.”I think we can all skate with her,” junior defender Meaghan Mikkelson said of Oonincx. “We’ve played against her before and we know how she plays. If we all just focus on our own performance rather than watching her skate around, we’ll do just fine.”St. Jacques registered 81 saves out of 83 shots faced over the weekend. She has earned victories in each of her last three starts and her season record stands at 6-8-1. “All we need to do is take shots,” Badger team captain Sharon Cole said. “We need take all the shots we need to and then crash the net for rebounds.”Johnson also recognizes that the special teams will be a key factor in the series. St. Cloud and Wisconsin have showcased nearly identical powerplay performances, with the Huskies converting 21 percent of their man-advantage opportunities, best in the conference, as Wisconsin stands as a close second with 20 percent.”The powerplay and special teams will be big factors in this series,” Johnson said. “[The special teams] are doing pretty good … but sometimes your powerplay can [be] doing well but you don’t score … our penalty killing is very strong, and [the special teams] are going to have [to] be even stronger to win this series.”The Badgers do hold a slight advantage over the Huskies in penalty killing. St. Cloud’s penalty kill has 81 percent effectiveness, which is the second worst in the conference. On the other hand, Wisconsin’s penalty kill is third-best in the conference, fighting off 86 percent of their shorthanded attempts.Other factors play into special teams as well. Wisconsin is the least-penalized team in the conference with an average of fewer than 10 penalty minutes per game. St. Cloud State averages more than 11 minutes a game.St. Cloud’s powerplay is dependent on the success of three primary players. Oonincx, senior forward Ashley Stewart and junior forward Hailey Clarkson are three of the top four powerplay point producers in the conference. UW junior forward Sara Bauer and junior defender Bobbi-Jo Slusar are both in the top seven.Bauer will likely be a big part of Wisconsin’s special teams’ success. She leads the conference in total points, ranks second in shorthanded goals, and is tied for first in game-winning goals with six.And like Cole pointed out, the team needs to work on collecting rebounds and cashing in on those second chances. Sophomore forward Jinnelle Zaugg will be the one looking to cash in rebounds left in front of the net. Zaugg’s combination of talent and size make her ideal for loitering around the opponent’s net waiting for a rebound to pop up.”She has a long reach and a quick shot,” Cole said. “That’s part of the reason why she’s so effective.””She’s been scoring goals and she had a good rookie season and was able to score some goals last year,” Johnson said. “She has the opportunity to be playing out there with Bauer and Cole, and fill the void that [graduate Lindsay Macy] left. She’s creating opportunities and making the most of those. Hopefully [the puck] will keep going in for her.”Wisconsin may be the No.1-ranked team in the country and St. Cloud State may only have a record of 12-13-1, but the Huskies’ surge in momentum makes them dangerous. Because in hockey, as in all sports, momentum can make all the difference.
About the authorCarlos VolcanoShare the loveHave your say Real Madrid players enjoy open training sessionby Carlos Volcano10 months agoSend to a friendShare the loveReal Madrid players enjoyed Monday’s open training session with fans.Sergio Ramos was pleased to have a rare opportunity to train in front of the supporters on Monday, a unique way of closing out the calendar year.”It gives us great satisfaction that the fans always embrace us. We are saying goodbye to the year with them alongside us, training with the Madridistas,” he said.”It is a day for everyone to enjoy and for kids to get the chance to see their heroes up close.”For his part, Karim Benzema also echoed the sentiments of his captain and insisted the side are focused on winning further titles.”It is a holiday for everyone but we are at Real Madrid to win titles so I hope that we can keep winning,” he concluded.
RB Salzburg sensation Haaland warns Liverpool & Van Dijk: We’re fearlessby Paul Vegasa month agoSend to a friendShare the loveRB Salzburg sensation Erling Haaland says he’ll be ready for his Champions League showdown with Liverpool defender Virgil van Dijk.The 19-year-old striker bagged an impressive hat-trick in Salzburg’s Champions League opener against Genk – his fourth of the season.Next up for the Austrian side is a trip to Anfield to face the European Champions who are determined to bounce back from their Napoli defeat.”We’re fearless,” Haaland told Salzburg’s official website. “We’re not afraid of anything, and we always want to attack and score.”Haaland has the uneviable task of going up against UEFA Defender and Player of the Year van Dijk, but outlined his tactics for the challenge ahead.He added: “I don’t think you can train to play against him, but you can train on things that can maybe trick him or maybe set him out of position.”We all have to be at our best, every player, to have a chance against this team.” About the authorPaul VegasShare the loveHave your say
After dropping Jonah off at home, Mr. Tuttle exchanged goodnight texts with him – and that was the last anyone would ever hear from the young performer.It was only on Tuesday, the day after dark day, that anyone grew seriously concerned about unanswered texts to Jonah’s phone. Members of the Shaw ensemble started trying to contact the actor after he uncharacteristically missed a rehearsal that afternoon. Then, he didn’t show up for the call for his evening performance of the musical on the main stage at the festival: Me and My Girl.Later that evening, Mr. Tuttle was home with his family when his boss reached him to tell him that his partner had been found. “She had to tell me three times what had happened, because I didn’t believe her. I didn’t want it to be true.” Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Facebook Advertisement Actors don’t get weekends. Instead, theatre companies tend to have one day a week when no performances are scheduled, traditionally called the “dark day.”At the Shaw Festival, the eclectic repertory theatre company now in its 56th season in Niagara-on-the-Lake, Ont., Monday is dark day – and it was on just such a Monday this summer that something dark took a popular, outgoing 22-year-old actor named Jonah McIntosh.The previous day, Sunday, July 9, Jonah and his partner, Marcus Tuttle, social-media manager at the Shaw, had taken advantage of rare, overlapping time off to go on a hike around the Niagara Escarpment. Then, they saw the new Spider-Man movie – which Jonah, a Marvel fan, pronounced his favourite version to date – had dinner and drove home listening to songs from the Broadway musical Hamilton, singing and dancing along in their seats. Login/Register With: Twitter Advertisement
Kolkata: Three boys reportedly drowned while bathing in a local bheri in Narendrapur on Friday morning. Three other boys, who were bathing with them, informed the local residents about the incident.According to sources, on Friday, around 11 am, six boys from Jagatipota at Khyada in Narendrapur went to have a bath in a local bheri. After they got down in the water, three of them identified as Ranak Das (17), Subhajit (19) and Shan Roy (14) went missing. The three other boys identified as Surajit Roy, Charan Dhali and Bishal Mistry were sitting on the bank of the bheri. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari PujaDespite they tried to search for their friends they were not able find them. Immediately, they informed some local residents about their friends going missing. Locals informed Narendrapur police station. Some of them went to the bheri and tried to search for the missing boys. Meanwhile, police arrived and asked local residents to arrange for a fishing net. Also the Disaster Management Group of Kolkata Police was called for help. Before the Disaster Management Group team could reach the spot, local residents arranged a fishing net and recovered the trio. They were immediately admitted to M R Bangur Hospital where they were declared brought dead. Later, sleuths came to know that despite the these boys don’t know how to swim, got down into the water while the other three boys were sitting on the banks. The bodies have been sent for autopsy examination as per the legal procedure.