Midwest protests Fannie Mae & Freddie Mac

first_imgWW photo: Mike ShaneSome 75 housing rights activists from Chicago, Detroit and Minneapolis demonstrated in front of the Chicago regional office of Fannie Mae on Sept. 10, demanding an end to foreclosures, a reduction of mortgages to current market values, and the return of foreclosed properties to families who were evicted. Demonstrators then marched to Freddie Mac’s office, repeating the same demands. They then joined striking Chicago teachers at a massive march through downtown Chicago. Similar demonstrations took place at the offices of Fannie Mae and Freddie Mac in Atlanta on Sept. 10 and in Los Angeles and New York on Sept. 12. For a more detailed report, visit moratorium-mi.org.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

RSF issues warning to India in first World Press Freedom Index Incident Report

first_imgNews The other variable on which RSF intends to question the Indian authorities is the alarming deterioration in the general working environment for journalists in recent months. Online hate campaigns and harassment by armies of trolls that promote the Hindutva doctrine, a mixture of Hinduism and pre-war western nationalism favoured by Prime Minister Modi, have reached unprecedented levels. The journalist Rana Ayyub has been subjected to a hellish nightmare since April after tweets falsely attributed to her were published, unleashing an outburst of hate messages posted on social media, such as sexist insults, faked pornographic videos, and calls for her to be gang-raped and murdered.    Help by sharing this information On March 26, Sandeep Sharma, who had been investigating illegal sand mining, was crushed to death by a garbage truck in Madhya Pradesh state in central India. A day earlier, two other journalists, Navin Nischal and Vijay Singh, subeditors with the daily Dainik Bhaskar, were deliberately run over and killed by an SUV in Bihar state.            February 23, 2021 Find out more In addition, there has been an increase in cases of police violence and attacks by security forces in Jammu and Kashmir, as well as violence by political activists.  As a result, the indicator that records Abuses against journalists is likely to suffer. It accounts for one-fifth of each country’s assessment by RSF for the annual World Press Freedom Index. In 2017, at least three journalists were killed in connection with their work and a fourth case is still under investigation. In 2018, the situation appears to have worsened significantly. Four journalists were killed in the country in the first six months of the year. One-third of the assessment adversely affected Organisation A month later, the TV journalist Ravish Kumar disclosed that the death threats he had been receiving on his phone since 2015 had increased sharply in numbers and their level of hostility during the previous month. The start of the wave of threats against Kumar coincided with the publication of his book, The Free Voice, in which he describes the disturbing decline in press freedom in Modi’s India, which he describes as a “republic of fear”. Reporters Without Borders has for the first time issued an Incident Report, on freedom of the press in India, after the murder of a fourth journalist in less than six months and a sharp rise in hate speech. Surge in abuses He was one of India’s most renowned journalists and the fourth member of his profession to have been killed this year because of his work. @RSF In these circumstances, the Environment and Self-censorship indicator, which accounts for 13 per cent of the overall score for each country, is also likely to be affected.  Together with Abuses, it represents 33 per cent of the overall evaluation. India currently lies in 138th position of 180 countries and is thus already in an adverse position.     April 27, 2021 Find out more As a result, the Abuses and Environment indicators, which contribute to the country’s evaluation for the Index, show a negative trend and point to another decline in its ranking in the 2019 edition unless the authorities take steps to rectify the situation.    News In view of the increase in breaches of press freedom in India in the past six months, the Incident Report examines the country’s ranking in the World Press Freedom Index, the global benchmark for media freedom.In the 2018 Index, published in April this year, India occupied the 138th position out of 180 countries, two places lower than in 2017, and the situation has continued to deteriorate. Receive email alerts IndiaAsia – Pacific Condemning abusesProtecting journalistsMedia independence ImpunityViolence RSF demands release of detained Indian journalist Siddique Kappan, hospitalised with Covid-19 Broadly speaking, abuses against journalists have increased sharply in the past six months. On June 22, Satyendra Gangwar was shot and wounded in the north of Uttar Pradesh, near the Nepalese border, by members of the mining mafia, which he had been investigating and which was behind an earlier assault on him in March.center_img July 4, 2018 RSF issues warning to India in first World Press Freedom Index Incident Report On July 3, RSF secretary-general, Christophe Deloire, wrote to Indian Prime Minister Narendra Modi telling him that the Incident Report had been issued in relation to press freedom in the country, and asking him to take urgent action. An Incident Report is issued when events are observed that could affect a country’s ranking based on one or more of the indicators that are used in the evaluation for the World Press Freedom Index. Recommendations Environment and self-censorship On June 14, the editor of the renowned newspaper Rising Kashmir, Shujaat Bukhari, was shot dead as he left his office in Srinagar, the capital of Indian-administered Jammu and Kashmir state. IndiaAsia – Pacific Condemning abusesProtecting journalistsMedia independence ImpunityViolence Reporters Without Borders (RSF) is introducing a new Incident Report procedure for cases where it has observed a deterioration in one or more of the indicators used to determine the positions of the 180 countries ranked in the World Press Freedom Index. It will issue a warning to the country concerned.  RSF uses seven indicators: pluralism, media independence, abuses, environment and self-censorship, legislative framework, transparency, and the quality of the infrastructure that supports the production of news and information. To reverse this trend, RSF makes the following recommendations to the Indian authorities:The establishment of a system capable of ensuring the safety of journalists at risk and, especially, of providing proper protection for those who say they have been threatened. The swift and independent investigation of cases where journalists have been murdered, or have been the targets of attempted murder, in order to put an end to the impunity enjoyed by the perpetrators and instigators of such crimes. Better training for law enforcement officers in how to ensure the safety of journalists and to let them do their job, and to penalize appropriately any police officers and members of the armed forces who deviate from these rules, including those who give the orders.RSF also calls on the representatives of the government and the ruling party:To condemn in the strongest terms online campaigns of hate and harassment aimed at journalists.To show transparency concerning the BJP’s notorious IT cell and its activities.    Furthermore, RSF recommends that commercial divisions of news organizations draw up a code of practice that allows journalists to do their work impartially and without fear of censorship. March 3, 2021 Find out more Finally, RSF calls on digital platforms to show greater transparency and responsibility in regulating their content, particularly concerning hate messages and threats directed at journalists. to go further In its letter, RSF notes that “in the first six months of 2018, at least as many reporters were killed as for the whole of 2017, while hate speech directed toward journalists has increased massively, causing serious concern for their safety.” Indian journalist wrongly accused of “wantonly” inaccurate reporting News RSF_en On June 18, Suman Debnath, who was investigating the theft of petroleum in Tripura state, was almost killed when two men tried to slit his throat. On April 17, in the neighbouring state of Meghalaya, the home of Patricia Mukhim, editor of the Shillong Times, was attacked with a kerosene bomb.     Follow the news on India India: RSF denounces “systemic repression” of Manipur’s media This kind of intimidation, which affects journalists expressing even the mildest criticism of the current government, creates a harsh climate of self-censorship, and even propaganda. This is what is suggested by an investigation carried out by the news website Cobrapost, dubbed Operation 136 after India’s ranking in RSF’s 2017 World Press Freedom Index. It discovered that the commercial divisions of most of India’s leading media groups would accept substantial bribes in return for favourable coverage of the ruling party. Rather than publicising this scandal, the mainstream media largely ignored it, a symptom of the level of self-censorship that looms over the country’s news industry. Newslast_img read more

Revenue Remains Constrained for Banks in Q2 Despite Record Earnings

first_img About Author: Xhevrije West After reaching record earnings in the second quarter of 2015, the U.S. banking industry can expect global economic factors, recent stock market volatility, and interest rates to be deciding factors in the upcoming third quarter report and beyond.U.S. banking institutions that are insured by the Federal Deposit Insurance Corp.(FDIC) earned an aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion from a year ago, the FDIC announced in their Quarterly Banking Profile last week.The $43.0 billion second quarter profits, the highest quarterly income on record, was mostly driven by a $3.6 billion rise in net operating revenue, the FDIC said.”The industry experienced a continuation of positive trends observed over recent quarters,” said. Martin J. Gruenberg, Federal Deposit Insurance Corp., Chairman.”However, the banking industry continues to face challenges. Revenue growth has lagged behind asset growth, as exceptionally low interest rates put downward pressure on net interest margins. On balance, the industry—and community banks in particular—experienced another positive quarter.”In an analysis of second quarter bank earnings, the Kroll Bond Rating Agency (KBRA) determined that credit metrics are improving for the U.S. banking industry, but revenue and earnings are still an issue, especially for larger banks.Regional and community banks reported better performance in the second quarter of 2015 compared to bigger institutions, which has usually been the case for previous quarters.The FDIC’s net operating revenue rose 2.1 percent from a year ago to $172.9 billion as loan growth raised revenues for most banks in the second quarter. Net interest increased by 2.3 percent compared to the second quarter of 2014, while noninterest income was 1.9 percent higher. Servicing income increased 63.9 percent and trading income fell 14.1 percent.The report also noted that community bank earnings increased 12 percent from a year earlier to $5.3 billion. Net operating revenue also rose 8.0 percent from a year ago to $22.3 billion at community banks.KBRA believes that third quarter earnings will be affected by global economic conditions, stock market volatility, and the Federal Reserve’s interest rate decision. Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe September 11, 2015 764 Views The report also noted that four things must occur for banks to maintain the growth levels seen the second quarter:Expenses must remain under control and the downward trend in litigation and other regulatory costs must continue.It would be beneficial for the industry to see another $4 billion handle on servicing income for Q3, but this particular income line for banks tends to be very volatile.Releasing additional reserves back to income also would be advantageous, but this is unlikely.It would be significant if the rebound in mortgage origination volumes continued in the second half of 2015, but KBRA expects to see volumes start to soften after a torrid first half of the year.”All in all, KBRA expects trends in U.S. banking industry revenue, earnings, and credit costs to continue to track the past few quarters, but with less help from operating expense reductions and reserve releases,” KBRA concluded. “Higher volatility and growing investor concerns about the health of China and the global economy will make managing institutions with market exposure especially challenging.”Forbes also issued a bank profit outlook report for 2016, noting that earnings among these institutions could rise 50 percent. Author of the report, Bill Conerly said that bank can increase their earning next year by focusing on loan growth, monitoring deposit levels, and working on employee retention.”The year 2016 should be a good one for banks in the United States, with the best managed institutions doing especially well,” Conerly said.Click here to view Kroll Bond Rating Agency’s Banking Industry: Q2 2015 Review & Outlook.Click here to read more of Forbes Bank Profit Outlook 2016.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago “Looking forward to the end of the third quarter, the market turmoil caused by China’s faltering economy may impact non-interest income at many large banks that are active as advisers in the primary market for securities,” the agency said. New issue activity in the bond market dried up for several weeks in August, depriving dealers of fee income.”KBRA added, “Market volatility is likely to continue through the rest of 2015 and beyond as markets get comfortable with an eventual change in policy by the FOMC. However, the key question for most investors remains whether short-term interest rates are going to move higher in the U.S.” Share Save Related Articles Previous: Comptroller of the Currency Discusses Progress Made Toward Rehabilitating Urban Communities Next: Distressed Sales Share Continues Steady Decline, Falls to 9.4 Percent Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Banks Earnings FDIC Profits 2015-09-11 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Banks Earnings FDIC Profits Revenue Remains Constrained for Banks in Q2 Despite Record Earnings Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Revenue Remains Constrained for Banks in Q2 Despite Record Earnings The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Canning proposes sharing costs to preserve local services

first_img By News Highland – May 28, 2012 WhatsApp Twitter Facebook Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleMc Conalogue warns education grant changes would discriminate against farmersNext articleGAA – Kavanagh Injury Concern For Derry Clash News Highland Canning proposes sharing costs to preserve local services Newsx Adverts Calls for maternity restrictions to be lifted at LUH Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week center_img Pinterest Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey WhatsApp Guidelines for reopening of hospitality sector published Google+ Need for issues with Mica redress scheme to be addressed raised in Seanad also A Donegal Councillor says sharing staff and premises could be the key to keeping services in small towns.At today’s council meeting, Cllr Paul Canning called on officials to survey areas within our rural communities in order to facilitate shared premises and services between An Garda Siochana,The Health Board and Donegal County Council.Cllr Canning argues that sharing costs could help to keep these services in place………..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/05/paulc.mp3[/podcast] RELATED ARTICLESMORE FROM AUTHOR Facebooklast_img read more

Plans for a new 15 million pounds whiskey distillery in Derry take a step…

first_img 365 additional cases of Covid-19 in Republic Pinterest Previous articleWatch the Highland Radio crew in Relay for Donegal Anthem!Next articleSuperintendent Vincent O’Brien announces his retirement from the force News Highland Google+ WhatsApp Twitter Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp Facebook Man arrested on suspicion of drugs and criminal property offences in Derry Further drop in people receiving PUP in Donegal 75 positive cases of Covid confirmed in North center_img Facebook Google+ Plans for a new 15 million pounds whiskey distillery in Derry take a step forward By News Highland – May 9, 2013 Pinterest RELATED ARTICLESMORE FROM AUTHOR News Ciaran MulgrewThere has been a broad welcome to the news that a new £15 million whiskey distillery in Derry has been granted planning permission.Niche Drinks, the company behind the city’s St Brendan’s cream liqueur operation, is to build a custom-built factory complex in the city.The move is however dependent on the company’s current site being awarded a change of use to retail and then being sold.Managing Director of Niche Drinks Ciaran Mulgrew is hopeful that will happen:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/05/ciara1pmDISTIL.mp3[/podcast] Twitter Gardai continue to investigate Kilmacrennan firelast_img read more

Bands to strike up 30 times on Saturday

first_img By The Penny Hoarder Troy falls to No. 13 Clemson Email the author Remember America’s heroes on Memorial Day Bands to strike up 30 times on Saturday “The bands are not competing against each other. They receive ratings based on their individual performances. The bands are very supportive of each other so it’s a very positive experience for the bands.”The Southeastern States Marching Band Festival is also a recruiting tool for Troy University.“That’s why I came to Troy University,” Sims said.“When I came to the festival as a high school band member, and heard the Sound of the South I knew Troy University was where I wanted to go to school. The band festival is a different atmosphere from a football game. It’s all about band.” You Might Like Interpreter program receives $1.5 million Just when Troy University’s interpreter training program funds were about to run out, the Alabama Dual Party Relay Board came… read more Print Article Published 12:00 am Thursday, October 1, 2009 Pike County Sheriff’s Office offering community child ID kits Plans underway for historic Pike County celebration When George and Ira Gershwin wrote the tune to “Strike Up the Band,” they certainly didn’t envision 27 high school bands plus one “striking up” for the 40th annual Southeastern States Marching Band Festival.The festival is set for Saturday, Oct. 3 at Movie Gallery Veterans Stadium on the campus of Troy University.“It’s going to be a great day for the bands, for Troy University and the community, said Teresa Sims, who with her husband, Tim, coordinates the festival. Latest Stories “We will have bands from Alabama, Georgia and Florida participating in the daylong festival. We will also have the 151st Alabama Army National Guard Show Band that will perform at 5:30 p.m. and the Sound of the South Marching Band will wrap up the festival at 8:30 Saturday night.”Sims said the Southeastern States Marching Band Festival is just that. A festival, not a competition.“The purpose of the band festival is to provide quality performance experiences and feedback to the bands so they can take this information back and improve their performances,” Sims said. By Jaine Treadwell Sponsored Content Penny Hoarder Issues “Urgent” Alert: 6 Companies Are… This year’s festival will have a Charles Henderson High School flavor.Festival judges include Michael Thomas, Pascal Ward and Richard Beasley who are former directors of the Charles Henderson High School Blue Machine and Richard McLendon and J.C. Conner are graduates of CHHS.Local bands that are participating are Goshen, Luverne and Zion Chapel. Charles Henderson is the host band and will play at 5 p.m.There is a $5 admission fee but children under five are admitted free.“Tim and I would like to thank all of those who have worked so hard to make the 40th Southeastern States Marching Band Festival a success,” Sims said.“Freddie Brooks has coordinated the support of the City of Troy and the Troy Police Department. We are so appreciative of all the help and support.”“We invite everyone to come out Saturday. It’s going to be a great band day.” Skip Book Nook to reopen Around the WebMd: Do This Immediately if You Have Acid Reflux (Watch Now)Healthy LifestyleIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthMost 10 Rarest Skins for FortniteTCGThe 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

Abundance, horizontal and vertical distribution of fish in eastern Weddell Sea micronekton

first_imgThe spatial distribution and species composition of high-Antarctic ichthyonekton was investigated during the EPOS 3 cruise by RV Polarstern in the eastern Weddell Sea during January–February 1989. A multiple rectangular midwater trawl was used to collect samples from the surface to near the sea floor at 11 stations along a 245 kra transect off Halley Bay. Early larval stages of 18 species, representing about 24% of the known Weddell Sea ichthyofauna, were present in the water column. The Antarctic silver-fish, Pleuragramma antarcticum, over-whelmingly dominated the catches comprising 84.5% of the 5022 specimens caught. The abundance of this species markedly increased towards the offshore end of the transect with the highest numbers occurring near the shelf-break front associated with the westerly current of the southern limb of the Weddell Gyre. The increased abundance of P. antarcticum in continental slope waters was attributed to deflection of the East Weddell Coastal Current beyond the shelf/slope break by fringing ice shelves. Most larval and juvenile fish were found in the seasonally warmed upper 0–70 m layer of the Antarctic Surface Water where conditions occurred that appeared to be favourable to both feeding and growth. Cluster analysis indicated that inner-, central-and outer-shelf assemblages were represented and that the species composition was most effectively described by reference to water mass and depth.last_img read more

Rightmove crisis: portal cancels its dividend payment to shareholders

first_imgThe decision by Rightmove to cut its fees to all agents and developers during the Coronavirus crisis by 75% has cost its shareholders dearly after the portal this morning announced it is to cancel its proposed final dividend payment of 4.4p per share for 2019.This follows a torrid few weeks for the company’s share price, dropping since February from a high of £6.35 per share to a low of £4 a few days ago. So far some £1.27 billion has been wiped off its value, although its share price has since rallied in recent days.This morning’s announcement, which will save the company £38 million, means one of the City’s most reliable and lucrative shares has not paid a dividend for the first time since they were launched in 2006.Rightmove’s shares are one of the wonders of the London Stock Exchange and to a certain extent the global financial system and its share price fluctuations are discussed around the world.Rightmove says the move is part of a package to contain its costs and ‘reinforce our financial position’.Other measures include suspending its share buy-back scheme which has seen it spend millions every week re-acquiring its own stock, and looking at the size of its future dividend payments.“In this period of unprecedented uncertainty, we are unable to quantify the impact of COVID-19 on our financial and trading performance at this stage,” Rightmove says.“Accordingly, the Group is suspending all existing financial guidance for 2020. The Board is confident that the Company has the financial capacity to withstand this challenging period.”Read more: Rightmove admits its ‘got it wrong’ over its initial fees cut offer to agents. coronavirus Rightmove March 27, 2020Nigel LewisOne commentAndrew Stanton, CEO Proptech-PR Real Estate Influencer & Journalist CEO Proptech-PR Real Estate Influencer & Journalist 27th March 2020 at 11:19 amIn the past week I have had communication with or from over 500 property professionals, CEO’s, sole traders, men and women in the front line of the business, tech companies, other analysts, you name them I have been talking with them. As many know I have for some time said that the real estate relationship with Rightmove has become a toxic, abusive and one sided, and that a major fault line was pushing the two parties wider and wider apart.For sure since 2006 when Rightmove became a quoted stock, the share price had until a few weeks ago rocketed by 1,500%, and in February 2020 hit 691p a share, but now at 470p a share with a likely revenue hit of 75M plus, shareholders and the c-suite of Rightmove might realise that the gravy train has just hit the buffers.Many that I spoke to say that with over 130M visits a month to the Rightmove website, the brand strength and the public’s pre-occupation with ‘Property Porn’ means that as the Property Portal heavyweight, nothing can stop it. Well Covid-19 just has, faced with a long journey ahead agents looking at their fixed cost model of agency, suspiciously eye the large ticket cost of Rightmove, often in the top three of a branches costs after salaries.Agents now realise that with the proliferation of ‘free to list’ portals, their £1,100 plus as an average branch spend, is in fact nowhere near its true price point. The other thing that everyone talking to me says is ‘Rightmove has itself never moved’ in that it has no evolved, it is just digital shelves rammed with goods/listings supplied by the agents.How will it end? Well in Janurary 2016 the share price was 402p, and in the following years it was 390p, 450p,474p and in 2020 642p (peaking at 691p a month later) so an adjustment to 470p was likely at some time in 2020 anayway. Now though – agents are going to leave Rightmove, and those that stay are not going to want to pay anywhere near £1,100 a branch.Luckily I am neither a shareholder or in the Rightmove c-suite, but if I was on the management team the first thing I would do is what I do … listen and engender debate, find out what your customer wants and needs and provide it – do not put your fingers in your ears and keep putting up the prices. Or people like Kristjan Byfield who is the kindest and gentlest and most considerate and well respected property and proptech professional will give you your P45.Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Rightmove crisis: portal cancels its dividend payment to shareholders previous nextProducts & ServicesRightmove crisis: portal cancels its dividend payment to shareholdersThe dramatic move by Rightmove is to cut costs and reinforce its financial position ahead of the portals’ 75% cut to estate agency listings fees.Nigel Lewis27th March 20201 Comment3,136 Viewslast_img read more

Ombudsman warns agents to be ‘upfront’ about new-build reservation agreements

first_imgHome » News » Ombudsman warns agents to be ‘upfront’ about new-build reservation agreements previous nextRegulation & LawOmbudsman warns agents to be ‘upfront’ about new-build reservation agreementsWarning comes after elderly couple put down £2,000 to reserve a house within a retirement development but lost their ‘ideal home’ after struggling to sell their old home within the 21-day deadline.Nigel Lewis21st May 20201 Comment3,234 Views A couple in East Anglia embroiled in a long-running argument with a retirement home builder over a disputed reservation agreement have contacted The Negotiator to complain about the handling of their case after they approached The Property Ombudsman for redress.The retired duo, who wish to remain anonymous, believe that their experience highlights a flaw in the way reservation agreement expiry dates can be exploited by new homes builders and their agents to sell on reserved properties when buyers struggle to sell their old home in time to fulfil the deal.They put down a £2,000 reservation fee on a house within a retirement development that came with a 21-day reservation period but that, although the developer involved initially agreed to help them when the deadline passed, it then ignored and sold their house to another buyer.The couple say the developer only returned their deposit and paid a goodwill contribution towards conveyancing costs after much badgering, some 100 days later, after the property had been sold to someone else.The two 70-year-olds had hoped that TPO would back their claim that reservation agreements like this leave buyers exposed to financial risk and the considerable stress of recouping deposits from builders or their agents when deals fall apart.The Negotiator asked TPO for comment. Ombudsman Katrine Sporle (left) said: “Reservation Agreements are there to protect both parties and to signify that the purchaser is clearly committed to the purchase.“However, most reservation agreements have an expiry date by which the buyers must have exchanged.“Unfortunately, property transactions are, by their nature, complex, and therefore there is still a risk with such agreements that things will not go according to plan to meet such time frames.“In the case being reported, the use of a reservation agreement gave the complainant certainty – but they still had to sell their house and found that they were not in a position to exchange some months after the agreed 21-day reservation period had expired.Be upfront“When talking to agents up and down the country, TPO always emphasises to agents that when things go wrong it is in their interests, and in the best interests of the consumer, to be upfront and professional about the facts of the case.Here, the position was allowed to “sit on the books” as it were, until finally the purchasers were informed that the property would be remarketed.“Once remarketed the property sold quickly, and the reservation fee was repaid in full to the consumers. There was no evidence of there being two reservation agreements being in place either during the 21-day period of the agreement or in the months that followed.“TPO supported the complaint from the consumers and made an award against the agent because of their failure to be absolutely clear to the purchasers of the risks to them once the reservation period had expired.“The award was paid in full and final settlement of the dispute. TPO always emphasises that the complainant need not accept the complaint and can take the matter to court. We are here to provide alternative dispute resolution not legal rulings.”Read more about reservation agreements. reservation agreement The Property Ombudsman TPO May 21, 2020Nigel LewisOne commentBryan Mansell, Gazeal Gazeal 21st May 2020 at 5:10 pmInteresting article, I have to say this is one of the reasons that, in my opinion, Reservations should not be entered into when the chain is not yet complete. at the very least people should have a longer more flexible time scale in which to sell their property at a fair market price.Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

UNITAS 2014 Comes to a Close

first_imgBack to overview,Home naval-today UNITAS 2014 Comes to a Close UNITAS 2014 was hosted by the Peruvian navy, and included 20 ships/patrol craft, submarines, helicopters maritime patrol and tactical aircraft and naval forces from the United States, Peru, Colombia, Chile, and Mexico. Personnel from Argentina, Brazil, Dominican Republic, El Salvador, Honduras, Italy, Panama, United Kingdom and New Zealand also participated in the exercise.UNITAS, the longest-running exercise of its type in the world, has evolved over the years and now includes training for many of the threats encountered in the 21st-century maritime environment, along with essential seamanship and navigational skills that are core competencies for maritime services in the Americas.This year’s exercise was conducted in two phases. The first phase included a full range of seamanship drills and experiences, including maritime operations, electronic warfare, anti-air warfare and air defense, anti-submarine warfare, anti-surface warfare and maritime interdiction operations. The second phase was a simulated at-sea war game to test all of the skills that were used and defined in the first phase.The U.S. Navy’s 4th Fleet was represented by USS Ingraham (FFG 61), USCGC Sherman (WHEC 720) and other naval units, including Patrol Squadron 10 (VP-10) and Destroyer Squadron 40.“This type of exercise is perfect for my officers and crew,” Cmdr. Dan Straub, commanding officer, USS Ingraham (FFG 61). “This gave the crew the opportunity to not only communicate and operate with other ships and countries, but it gave them a sense on an operational level how things work with other countries when working together as a whole unit.”The immediate purpose of the exercise was to train participating forces in a variety of high-end maritime scenarios to test command and control of forces at sea, while operating as a multinational force to provide the maximum opportunity to improve interoperability amongst partner nations.“UNITAS continues to demonstrate unwavering U.S. commitment to South America, Central America and the Caribbean,” said Rear Adm. Peter Clarke, deputy director, Joint Interagency Task Force South. “This exercise further solidifies relationships that improve U.S. and partners’ maritime forces, and achieve common defense goals.”At the same time, the intense training resulted in a stronger coalition, multilateral security cooperation and new friendships, strict professionalism and mutual understanding among the participating partner nations.The next UNITAS exercise is scheduled for late 2015 in Chile and Brazil.[mappress]Press Release, September 29, 2014; Image: US Navy Authorities View post tag: Navy Naval forces from 14 partner nations concluded UNITAS 2014, the 55th annual multinational maritime exercise, Sept. 26 in Callao, Peru, near Lima. View post tag: americas View post tag: Naval View post tag: News by topic View post tag: comescenter_img Share this article View post tag: Defence View post tag: 2014 September 29, 2014 View post tag: Close View post tag: UNITAS UNITAS 2014 Comes to a Closelast_img read more