Atlantic Leaf Properties Limited (ALPL.mu) listed on the Stock Exchange of Mauritius under the Property sector has released it’s 2018 interim results for the half year.For more information about Atlantic Leaf Properties Limited (ALPL.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Atlantic Leaf Properties Limited (ALPL.mu) company page on AfricanFinancials.Document: Atlantic Leaf Properties Limited (ALPL.mu) 2018 interim results for the half year.Company ProfileAtlantic Leaf Properties Limited is a real estate company incorporated in Mauritius. The company is the first pound dominated Global Business Licence company to be listed on the Stock Exchange of Mauritius. Atlantic Leaf Properties Limited invests in high quality, investment grade real estate assets and companies which deliver solid returns for investors through both income and quality growth. Atlantic Leaf Properties Limited is listed on the Mauritius Stock Exchange as well as the Johannesburg Stock Exchange.
Course Director Jerusalem, Israel Rector (FT or PT) Indian River, MI Assistant/Associate Priest Scottsdale, AZ Posted Dec 1, 2017 This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Advent, Rector Collierville, TN Rector and Chaplain Eugene, OR Submit an Event Listing In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Rector Albany, NY Curate (Associate & Priest-in-Charge) Traverse City, MI AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Priest Associate or Director of Adult Ministries Greenville, SC Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Featured Jobs & Calls Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Canon for Family Ministry Jackson, MS [Anglican Communion News Service] The Anglican Communion News Service is launching a new feature on social media – and giving Anglicans around the world the chance to share their experience of Advent and Christmas.The new Instagram feed will begin life on Sunday, Dec. 3. It will carry images and videos of how Anglicans are marking these seasons. ACNS is hopping to show how different traditions within the Communion celebrate – so why not take some photos or do some filming and send us the material?The feed can be followed here @anglicannews. Readers can send photos and videos showing how theiur church, parish or diocese is celebrating Advent and Christmas.Email [email protected] with INSTAGRAM in the subject heading. In the New Year, ACNS will continue to use its Instagram account to mark other seasons and events in the Church calendar.Not on Instagram?Social media can feel a bit daunting. But Instagram is very straightforward. It is all about sharing images and videos via desktop, laptop or smartphone. Participants need to download the app for their cell phones, or visit instagram.com if they are using their desktop or laptop.For more information, visit help.instagram.com. Rector Tampa, FL An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Associate Rector Columbus, GA Tags Rector Shreveport, LA Associate Rector for Family Ministries Anchorage, AK 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 Cathedral Dean Boise, ID Priest-in-Charge Lebanon, OH Director of Music Morristown, NJ Rector/Priest in Charge (PT) Lisbon, ME Rector Pittsburgh, PA Rector Knoxville, TN Rector Smithfield, NC Press Release Service Advent on Instagram: See the Anglican world celebrate and join in! 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 Youth Minister Lorton, VA Submit a Job Listing Featured Events Associate Priest for Pastoral Care New York, NY Rector Martinsville, VA Director of Administration & Finance Atlanta, GA Family Ministry Coordinator Baton Rouge, LA Missioner for Disaster Resilience Sacramento, CA Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Curate Diocese of Nebraska Rector Washington, DC Rector Belleville, IL Assistant/Associate Rector Morristown, NJ The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Rector Hopkinsville, KY Rector Bath, NC Anglican Communion Assistant/Associate Rector Washington, DC Bishop Diocesan Springfield, IL Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Submit a Press Release New Berrigan Book With Episcopal Roots Cascade Books Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem 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 Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest
John Hobart says: June 25, 2018 at 7:49 pm GAFCON has made a tactical decision to define themselves by what they’re against (same sex marriage mostly) rather than what they’re for (hard to tell what that is exactly). Groups do this when they’re worried about being cohesive and want to establish an identity (we’re the moral ones, unlike those others!). This often works in the short term but always ultimately fails.I have to believe that whatever most concerns the actual parishioners of African Anglican churches, it definitely it isn’t whatever “practices” might be going on in the bedrooms of American Episcopalians. They surely have more important worries their churches need to attend to. Steve Price says: Rector Tampa, FL Course Director Jerusalem, Israel Anglican Communion, June 27, 2018 at 11:02 am I was unaware that I have failed to criticize efforts to impression, if not worse, gay people in many of those African countries. Thanks for making me aware that I must have failed to do this. Submit a Job Listing Donald R Caron says: Bishop Diocesan Springfield, IL In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Matt Ouellette says: Jerry Hannon says: June 25, 2018 at 6:13 pm The authority of scripture is a central issue of our day (see Jeff Sessions). People who are clinging to a literal (and not contextual) interpretation are fearful that the bottom is falling out of social order. The people of the Global South have not been exposed to modern methods of Biblical interpretation. Associate Rector for Family Ministries Anchorage, AK Matt Ouellette says: Matt Ouellette says: Priest-in-Charge Lebanon, OH Jerry Hannon says: Youth Minister Lorton, VA June 27, 2018 at 10:09 pm Not sure which point you needed help making but I do have an answer to your question about a solution.Yes there is one.It’s a calendar and the passing of this generation. Director of Music Morristown, NJ Rector Martinsville, VA June 26, 2018 at 12:32 am Is it wrong for anyone to posit that the “interpretations” you refer to have no more, and and perhaps even less, Biblical support than the ones that GAFCON believes? A yes or no answer makes the division irreconcilable it seems to me. Any solutions out there? Posted Jun 25, 2018 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/Priest in Charge (PT) Lisbon, ME June 25, 2018 at 5:24 pm When, if ever, will these Eye of the Needle vigilantes ever be told what they can do with their views. Perhaps our dynamic and loving Presiding Bishop can soothe their ruffled feathers, but I doubt that even Bishop Curry can change their pharisaical approach to life. In the meantime, what have they done in their own jurisdictions to modify the hateful and often destructive ways of their governments and general societies. Hypocrites! June 27, 2018 at 7:28 pm Steve,Thanks for making my point! Lambeth Conference June 26, 2018 at 8:27 am In my opinion, it’s not much different than disagreements over the role of women in society and the church. You have more literalist readings which promote a patriarchal societal structure and deny women ordination, and you have more nuanced interpretations which acknowledge the patriarchal cultural norms present when the Scriptures were written are not inherent the gospel. While there is still disagreement over this issue, Anglicans have learned how to walk together despite our disagreements. I think we can figure out how to do the same with affirming interpretations as well. Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT GAFCON urges restrictions on Lambeth Conference invites June 26, 2018 at 10:47 am Jerry,Where is the hate from Gafcon? Acts 2:38 sates we must repent, and when we study the full council of the scriptures it is clear that any sexual acts outside of a male/female marriage is sin. Romans 3:23 states the wages of sin is death, therefore this is a heaven or hell issue for Gafcon which means it is full of love wanting to see mankind redeemed by our savoir Jesus Christ. June 26, 2018 at 10:43 pm John, I believe you will find that you have it a bit backwards. Please see Matthew 7:5. June 26, 2018 at 11:55 am My biggest issue with some of the GafCon provinces is they are openly encouraging schisms within other provinces .I don’t see how they can be allowed to remain within The Anglican Communion to carry out their Trojan Horse strategy Steve Price says: Associate Priest for Pastoral Care New York, NY June 25, 2018 at 10:29 pm No one is saying what the Bible says “ain’t so.” We are arguing that the Scriptures can be read in a way that affirms LGBTQ+ people and their relationships just like cisgender heterosexual people. Many scholars and theologians have done so. I pray that, for the sake of LGBTQ+ people in Africa, these interpretations can win out over the harmful interpretations that GAFCON continues to perpetuate. Press Release Service Jerry Hannon says: Steve Price says: This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 June 26, 2018 at 1:25 am I never thought we had a huge problem with racism in the Episcopal Church until someone directed my attention to our attitude towards GAFCON. Jerry Hannon says: Submit an Event Listing Featured Jobs & Calls July 1, 2018 at 7:40 pm Yes, Steve, I had foolishly forgotten about that schismatic encouragement side of GAFCON. Their call to invite schismatic break-away groups like ACNA is a reminder of how little the Anglican Communion matters to that group. Director of Administration & Finance Atlanta, GA Rector Bath, NC Tags June 26, 2018 at 8:20 am It’s not racist to criticize the anti-LGBTQ+ positions of GAFCON. Comments are closed. Comments (22) Rector Smithfield, NC Dave Miller says: Cathedral Dean Boise, ID June 26, 2018 at 9:18 pm The narrow tunnel vision approach of interpreting scripture is easily reduced to absurdity.Are we to believe that because the scriptures refer to Jesus riding a donkey and doesn’t mention him riding a camel that riding a donkey is the only acceptable way of travel and riding a camel is an abomination? Rector Shreveport, LA Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET John Hobart says: Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest william dailey says: william dailey says: John Hobart says: Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 June 27, 2018 at 9:52 am Jerry, I am well aware of what the verse actually says. I was pointing out your inappropriate use of a pericope that clearly warns us to look at our own faults rather than pointing out the faults of others. Sorry the sarcasm was lost on you. Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Rector and Chaplain Eugene, OR Priest Associate or Director of Adult Ministries Greenville, SC June 25, 2018 at 8:11 pm My prayers are with the LGBTQ+ individuals who live in the GAFCON provinces. They deserve better spiritual leadership. New Berrigan Book With Episcopal Roots Cascade Books June 27, 2018 at 11:07 am Imprison, not impression. The curse of autocorrect systems strikes again. william dailey says: Jerry Hannon says: Featured Events Assistant/Associate Rector Washington, DC Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Rector Washington, DC Rector Hopkinsville, KY Rector Knoxville, TN June 26, 2018 at 1:26 pm It’s also not racist to point out the beam in the eye of GAFCON when it comes to their failures to confront their own governments regarding hateful and abhorrent actions concerning minorities in their midst. Family Ministry Coordinator Baton Rouge, LA Jerry Hannon says: June 25, 2018 at 9:26 pm Well what do you know? The Church sent missionaries to Africa who endured privation and suffering while converting Africans to believe the Bible meant what it said. Now they’re being told it “ain’t so”. Poor devils don’t realize that the world has moved on. They should spend more time worrying about their own problems and leave the true Bible meanings to those more able to deal with the reality of today. Should they be required to abandon the fact that the Bible , as the missionaries taught them, does speak directly to marriage and accept that the LGBTQ+ church presence requires, according to some, a “tone of openess” entirely foreign to them? It appears that the convictions of all involved do indeed stand in the way of Church “inclusiveness”. It doesn’t appear to me that these positions are reconcilable. Maybe they shouldn’t be. Time will tell. The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Missioner for Disaster Resilience Sacramento, CA Rector Albany, NY Rector Pittsburgh, PA Assistant/Associate Rector Morristown, NJ Canon for Family Ministry Jackson, MS 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 News Service] Delegates at the third Global Anglican Future Conference, or GAFCON, which met in Jerusalem last week, endorsed a communiqué on their final day that called on the Archbishop of Canterbury not to invite to the Lambeth Conference in 2020 bishops from provinces that have endorsed “sexual practices which are in contradiction to the teaching of Scripture.”The communiqué said that unless that happened, and unless bishops from independent breakaway churches that are not in the Anglican Communion – the Anglican Church of North America and the Anglican Church of Brazil – were invited too, it would “urge GAFCON members to decline the invitation to attend Lambeth 2020 and all other meetings of the Instruments of Communion.”But ahead of the meeting, a significant number of primates associated with the GAFCON movement made clear their intention to attend.Read the full article here. Ken Alexander says: Curate (Associate & Priest-in-Charge) Traverse City, MI June 26, 2018 at 6:12 pm I remember reading something in the Bible about not being able to see the beam in our neighbors’ eyes because of the speck in our own. An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Associate Rector Columbus, GA Matt Ouellette says: Curate Diocese of Nebraska Rector (FT or PT) Indian River, MI Assistant/Associate Priest Scottsdale, AZ AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Submit a Press Release Rector Collierville, TN Rector Belleville, IL 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
Architects: Titus Bernhard Architekten Area Area of this architecture project Save this picture!© Titus Bernhard Architekten+ 19 Share Area: 182 m² Photographs Germany “COPY” House 11 x 11 / Titus Bernhard ArchitektenSave this projectSaveHouse 11 x 11 / Titus Bernhard Architekten ArchDaily Photographs: Titus Bernhard ArchitektenText description provided by the architects. The idea behind House 11 x 11 was to design an apparently compact house of homogenous materials, with a low external surface but as large a usable area as possible, a house that serves a family as an inhabitable sculpture and shows its exterior as an image of the inner organization.Save this picture!© Titus Bernhard ArchitektenRecommended ProductsWoodBruagBalcony BalustradesFiber Cements / CementsULMA Architectural SolutionsPaper Facade Panel in Leioa School RestorationMetallicsTECU®Copper Surface – Classic CoatedWoodGustafsWood Veneered Wall & Ceiling PanelsHouse 11 x 11 is an icon for its users, symbolic and built with a new method of construction: the exterior walls and the wooden roof made of prefabricated elements are covered by a vertical wood-lamella façade without counter-battens, converging on the ridge of the roof.Save this picture!© Titus Bernhard ArchitektenA pronounced graphic character is the result, reinforced by the variable density and very precise setting of the lamellae, including the integration of the wooden window frames. The inner organization expresses itself in the open-plan floor space of the ground floor, containing a kernel for secondary uses as a space continuum, connecting optically with the upper story by means of airspaces and cleverly designed lighting.Save this picture!© Titus Bernhard ArchitektenProject gallerySee allShow lessTroyes Business School Proposal / SCAU ArchitectesArticles’Modernism in Architecture & Urbanism: China, India & the West’ ConferenceArticles Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/231036/house-11-x-11-titus-bernhard-architekten Clipboard CopyAbout this officeTitus Bernhard ArchitektenOfficeFollowProductWood#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesMunichHousesGermanyPublished on May 02, 2012Cite: “House 11 x 11 / Titus Bernhard Architekten” 02 May 2012. ArchDaily. Accessed 11 Jun 2021.
By Alison CagleMarch 25 — This is a statement from Earthjustice attorneys for the Standing Rock Sioux Tribe on the recent legal victory against the DAPL permit to route the pipeline under the Missouri River, which was granted by the Trump administration.Water Protectors, Standing Rock camp.A federal judge struck down permits for the Dakota Access Pipeline, even after COVID-19 precautions led to an unconventional day in court.For the Standing Rock Sioux Tribe, there has never been any question of backing down from the fight to protect their homeland from the Dakota Access Pipeline.Every year since 2016, the Tribal council has voted unanimously to continue legal challenges to the pipeline, which shuttles 600,000 barrels of crude oil a day within a mile upstream from the Standing Rock reservation. An oil spill into the nearby Missouri River would destroy the Tribe’s way of life. Earthjustice has represented the Tribe in its litigation.On March 25, the Tribe gained a significant victory after a federal court struck down a permit to route the pipeline under the Missouri River, finding that the U.S. Army Corps of Engineers failed to consider the health and environmental impacts to the Tribe in the event of an oil spill. The court ordered the Corps to complete a full environmental review, and it also asked each side to weigh in on whether the pipeline should be shut down in the meantime.The legal victory vindicates the Standing Rock Sioux’s perseverance. After the Tribe’s initial stand inspired global solidarity and a halt to the pipeline’s construction, the early wins were tragically reversed by the Trump administration, the oil started flowing, and the struggle shifted to the courts. The Tribe stood their ground through four years of legal fight and counting.“After years of commitment to defending our water and earth, we welcome this news of a significant legal win,” says Standing Rock Sioux Tribe Chairman Mike Faith. “It’s humbling to see how actions we took four years ago to defend our ancestral homeland continue to inspire national conversations about how our choices ultimately affect this planet. Perhaps in the wake of this court ruling the federal government will begin to catch on, too, starting by actually listening to us when we voice our concerns.”Last week’s hearing took place despite unprecedented hurdles, as traveling to D.C. became too dangerous amid the COVID-19 pandemic. Seattle-based Earthjustice attorney Jan Hasselman cancelled his flights and hotels — including a side trip to visit his mother in D.C. — and requested to hold the hearing via teleconference.Yet heedless of the public health risk, Dakota Access’s lawyers, who are based in D.C., vehemently pushed back.“They didn’t really have any good reasons,” says Hasselman. “It was incredibly tone-deaf to demand an in-person hearing in the middle of a public health crisis. But the court handled it very fairly. Nobody was at a disadvantage.”On the day of the hearing, Hasselman delivered his case via phone, arguing that the Army Corps never fully assessed the imminent danger to the Tribe should the pipeline rupture. Despite not being able to read the courtroom or see the judge’s body language, Hasselman found ways to make the virtual accommodation work: Surrounded by fact sheets and regulatory citations taped to the wall of his home office, Hasselman had everything he needed to answer the judge’s questions.The Tribe has persisted in challenging DAPL through the ups and downs of court victories and setbacks. In December 2016, the Obama administration put the pipeline on hold — only to have President Trump reverse that order on his second day in office. Even after a federal judge in late 2017 ordered the Army Corps to take into account the Tribe’s criticisms, construction continued. The Army Corps ignored that judge’s instructions.The massive 2016 gathering of Tribes and allies defending Standing Rock Sioux territory from DAPL captured the world’s attention and attracted international media coverage. It helped give rise to a global movement of Indigenous resistance to fossil-fuel infrastructure projects.The March 25 court ruling could be the beginning of the end for the pipeline. The Standing Rock Sioux Tribe is now preparing to argue that DAPL should be shut down while the Army Corps completes its review.“This validates everything the Tribe has been saying all along about the risk of oil spills to the people of Standing Rock,” says Hasselman. “The Obama administration had it right when it moved to deny the permits in 2016, and this is the second time the court has ruled that the government ran afoul of environmental laws when it permitted this pipeline. We will continue to see this through until DAPL has finally been shut down.” (tinyurl.com/t3uph9d) FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
Subscribe First Heatwave Expected Next Week Business News Top of the News Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Faith & Youth Pasadena Christian Center’s Girls Ministry Published on Thursday, June 21, 2012 | 5:52 pm Community News Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. More Cool Stuff EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS HerbeautyWhy Luxury Fashion Brands Are So ExpensiveHerbeautyHerbeautyHerbeautyBohemian Summer: How To Wear The Boho Trend RightHerbeautyHerbeautyHerbeauty10 Ways To Power Yourself As A WomanHerbeautyHerbeautyHerbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeautyHerbeauty8 Easy Exotic Meals Anyone Can MakeHerbeautyHerbeautyHerbeauty5 Things To Avoid If You Want To Have Whiter TeethHerbeautyHerbeauty Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Make a comment Pasadena Christian Center’s Girls Ministries is an interactive club for girls 3 years of age all the way to high school. The ministry is staffed by volunteers who are trained to enhace what the Lord is doing in the young girls. They are devoted to reach the world one girl at a time! The girls will spend time learning about the Bible, and playing games, while establishing life-long friendships with other girls in the ministry. They will also learn practical skills such as craft making, cooking, and sewing. Girls may earn badges, pins, and awards by completeing various tasks. Upon completion of the program, girls may graduate from the club.Tere Goblirsch is the Girls Ministries Coordinator. Tere has been leading Girls Ministries since Pasadena Christian Center moved into the theater in 2001. Not only is Tere an awesome coordinator for PCC, but she has also held various positions in the Southern California Girls Ministries Department. For more information on how one can get their child involved in the Girls Ministries please contact Tere.Pasadena Christian Center, 2588 East Colorado Blvd., Pasadena, (626) 793-3443 or visit www.pasadenachristiancenterchurch.com. Name (required) Mail (required) (not be published) Website Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Community News Your email address will not be published. Required fields are marked * 8 recommended0 commentsShareShareTweetSharePin it faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes
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Home / Daily Dose / The Factors Impacting Real Estate Trends The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Kristina Brewer Print This Post Demand Propels Home Prices Upward 2 days ago Share 1Save July 21, 2018 2,911 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Editor’s Note: This feature originally appeared in the July issue of DS News.This month, DS News sat down with Dr. Lynn Fisher to discuss the housing trends impacting the market. Fisher focuses her research on examining affordable housing, home building, and mortgages. Before joining American Enterprise Institute (AEI) in April, Fisher was VP of Research and Economics and the Executive Director of the Research Institute for Housing America at the MBA, and on the faculty of Washington State University, the Massachusetts Institute of Technology (MIT), and the University of North Carolina. At MIT, she was director of the Housing Affordability Initiative in the Center for Real Estate. She has been published in several academic journals, including the American Economic Journal: Economic Policy, The Journal of Urban Economics, Real Estate Economics, and The Journal of Real Estate Finance and Economics. Fisher has three degrees from Pennsylvania State University: a doctorate in business administration with a concentration in real estate finance, a master’s in business administration, and a bachelor’s in international politics.Congratulations on your new role at AEI. One market indicator that AEI is known for is the National Mortgage Risk Index (NMRI)—can you share with our readers what the NMRI calculates and what it is currently forecasting for the market?NMRI calculates the average expected stressed default rate for newly originated agency loans based on debt-to-income ratios (DTIs), combined loan-to-value (LTV) ratio, borrower credit score, loan term, and purpose.The stressed default rate reflects the performance of loans originated in 2007 with the same characteristics. This measure shows that credit has been expanding over the past five years. Federal Housing Administration (FHA)-insured loans in particular—which are largely provided to first-time homebuyers and involve considerable risk layering—have increased in risk by 6 percentage points over this time in terms of averaged stressed default rate. The NMRI shows that if we have another stress event, like the one from 2007, more than 27 percent of FHA-insured loans would be expected to default.The riskiness of loans securitized by Fannie Mae has also risen notably in the months following the decision in mid-2017 to allow DTIs over 45 percent without compensating factors. We have seen a recent 1 percentage point jump in Fannie’s NMRI driven by the fact that their share of newly originated loans with DTIs over 45 rose to more than 19 percent in January, up from just 6 percent of loans in September 2017. In mid-March, Fannie adjusted course and implemented an update to Desktop Underwriter to reduce risk layering. In the coming months, we will be able to track how effective the policy adjustment was in moderating risk.Because inventories for sale are so low, any increase in the provision of leverage by the market—even if loans appear to be well-underwritten—serves to push home prices even higher, worsening the affordability problem.Are there actions the industry can take to alleviate the inventory constraint?Regarding low inventories of homes for sale, there is no easy fix, since potential home sellers are typically also prospective home buyers. If, as prospective buyers, households don’t believe that they can buy what they want for a reasonable price, they won’t put their home on the market in the first place, choking inventory. It will take time to add enough new homes to sufficiently expand the sales inventory and break out of this cycle.As a result, our data shows that total home sales are decelerating at the national level. The combination of new and existing home sales increased by 9 percent in 2015 and 10 percent in 2016 before slowing to a pace of just 5 percent growth in 2017. According to the National Association of Realtors, the inventory of existing homes for sale has fallen to historic lows, and many forecasters expect growth in existing home sales to slow even further this year, perhaps remaining about flat relative to 2017 due to a lack of inventory. This means that purchase volumes will remain fairly flat for lenders but for the bump in volume they will see from rising home prices.How do these trends compare to what we have seen historically?Historically, credit policy tends to lean into house price booms, expanding credit and exacerbating price increases on the upstroke. This time is no different and credit policy is allowing prices to grow faster than incomes. The pricing correction, when it comes, could be large, and borrowers with high DTIs and high loan-to-value ratio mortgages will have less ability to withstand even a mild recession. Tax reform and increases in government spending have recently juiced the economy past sustainable levels, increasing the likelihood of a recession in about two years’ time. Mortgage professionals need to remain vigilant that they are not relying solely on continued house price growth as the basis of their expectations about future loan performance.What can we expect to see in the housing market as we move into the latter half of 2018?If the credit box continues to expand as it did in 2017, then there is no doubt that home prices will continue to climb for the rest of 2018. Real wage growth is also expected to add demand to the housing market by the end of the year. In combination, these trends will keep the pressure on prices without providing much relief in terms of affordability. Only expanding our housing stock will provide more affordable housing. However, the accumulation of local government restrictions on building will continue to impede the creative expansion of our housing supply, even in the presence of record-high prices.How can lenders provide products to their borrowers to help insulate them from market fluctuations?Lenders should seek to make their borrowers resilient and able to adapt to a changing economy and housing market. Faster amortizing mortgages—for example, a 20-year versus a 30-year loan— help households build equity faster and increase the possibility that borrowers can ride out a downturn in prices. At the same time, no individual or lender can hold back the rising tide of credit availability and the pressure that competition puts on your business. As an industry, lenders need to be speaking out and ask that government agencies hold the line on credit policy. It can be done. The Rural Housing Services, for example, has an NMRI score that is about flat over the last five years.Ultimately, our housing supply is created locally. Lenders should also be part of their local process for regulating and planning for housing. They should educate local officials and help them find ways to expand supply. Although surprising to some, we don’t need subsidies to build “affordable” housing. We simply need to allow market actors, by right, to build economical housing in much greater quantities than we currently permit. Even incremental density increases—up-zoning from single family to duplexes or four-unit to eight-unit buildings—can make a big difference for the ability of a community to accommodate households at a wide range of prices and rents. Related Articles Kristina Brewer is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. You can reach her at [email protected] in Daily Dose, Featured, News, Print Features Credit Score Fannie Mae FHA Homes HOUSING Inventory Loan Term loans LTV mortgage 2018-07-21 Radhika Ojha The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Factors Impacting Real Estate Trends Tagged with: Credit Score Fannie Mae FHA Homes HOUSING Inventory Loan Term loans LTV mortgage Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Homeowners and the Buying Experience Next: Has Streamlining Benefited Loan Mods? The Best Markets For Residential Property Investors 2 days ago
The Best Markets For Residential Property Investors 2 days ago According to the Consumer Financial Protection Bureau (CFPB), federal financial institution regulatory agencies, in consultation with state financial regulators, issued a revised interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. The revised statement also provides the agencies’ views on consumer protection considerations.The revised statement clarifies the interaction between the interagency statement issued on March 22, 2020, and the temporary relief provided by Section 4013 of the Coronavirus Aid, Relief, and Economic Security Act, which was signed into law on March 27, 2020. Section 4013 allows financial institutions to suspend the requirements to classify certain loan modifications as troubled debt restructurings (TDRs). The revised statement also provides supervisory interpretations on past due and nonaccrual regulatory reporting of loan modification programs and regulatory capital.The agencies encourage financial institutions to work with borrowers and will not criticize institutions for doing so in a safe-and-sound manner. The agencies view prudent loan modification programs offered to financial institution customers affected by COVID-19 as positive and proactive actions that can manage or mitigate adverse impacts on borrowers, and lead to improved loan performance and reduced credit risk.The agencies’ examiners will exercise judgment in reviewing loan modifications, including TDRs, and will not automatically adversely risk rate credits that are affected by COVID-19, including those considered TDRs. Regardless of whether modifications are considered TDRs or are adversely classified, agency examiners will not criticize prudent efforts to modify terms on existing loans for affected customers.For borrowers who may be facing foreclosure, the CFPB has released several resources to help consumers take steps to protect their finances during the COVID-19 pandemic, including a reminder to consumers to contact their lenders if they cannot make their payments. Many lenders are now providing forbearance loan extensions, a reduction in interest rates, and/or other flexibilities for repayment. The Federal Housing Finance Agency has authorized Fannie Mae and Freddie Mac to enter into additional dollar-roll transactions—provide mortgage-back securities investors with short-term financing. Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Title and Abstract Agency of America Promotes West Coast Florida Sales Manager Next: Analyzing California’s Response to Wildfire Insurance About Author: Seth Welborn Subscribe Home / Daily Dose / Federal Agencies Issue Statement on Loan Modifications CFPB Coronavirus 2020-04-08 Seth Welborn in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: CFPB Coronavirus April 8, 2020 1,975 Views The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Federal Agencies Issue Statement on Loan Modifications Data Provider Black Knight to Acquire Top of Mind 2 days ago
By News Highland – April 17, 2012 Further drop in people receiving PUP in Donegal Previous articleMilford Inn closure report:Unsecured creditors to lose out on 1.8 million euroNext articleCouncil urged to return to old system of grants for elderly people News Highland Pinterest WhatsApp WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry Newsx Adverts Main Evening News, Sport and Obituaries Tuesday May 25th 365 additional cases of Covid-19 in Republic Facebook Google+ Facebook Twitter 75 positive cases of Covid confirmed in North Google+ Pinterest RELATED ARTICLESMORE FROM AUTHOR Company rules out digging for gold on or around Lough Derg Twitter A Canadian company that has won a licence to dig for gold in parts of South Donegal has said it has no intention of ever mining for gold in or around Lough Derg.Galantas Gold applied for the Donegal licence in an area 550 sq kms in size, covering Omagh to Castlederg and south to Pettigo in Donegal.And while Lough Derg falls within their licence area, the company has itself excluded it for gold exploration.Company Chief Executive Roland Phelps said the whole project is in the very early stages and the company won’t be drilling for quite a while:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/04/gold1pmderg.mp3[/podcast] Gardai continue to investigate Kilmacrennan fire