David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Print This Post The Best Markets For Residential Property Investors 2 days ago Subscribe Bank Earnings debt forgiveness Delinquencies Loan Modifications Ocwen Ocwen Financial Corporation Q1 2018 2018-05-02 David Wharton Demand Propels Home Prices Upward 2 days ago Ocwen Reports Q1 2018 Earnings, Highlights Debt Forgiveness Related Articles Atlanta-based servicer Ocwen Financial Corporation on Tuesday released the details of its earnings for Q1 2018, reporting a net income of $2.6 million for the three months ended March 31, 2018. This is up considerably over Ocwen’s Q1 2017 net loss of $32.6 million—a gain of $35.2 million.According to Ocwen, the company “generated revenue of $260.3 million and Cash Flows from Operating Activities of $99.4 million for the three months ended March 31, 2018.” Ocwen reports ending Q1 2018 with $285.7 million in cash.Ocwen reported that pre-tax income for Q1 2018 totaled $5.0 million, a $35.5 million improvement over Q1 2017. Ocwen’s servicing segment recorded $20.5 million of pre-tax income for Q1, marking the seventh consecutive profitable quarter for the business. Finally, Ocwen’s lending side recorded $8.8 million of pre-tax income for Q1 2018, a $7.7 million increase over Q1 2017.“The first quarter of 2018 was an important one for Ocwen, and we accomplished a great deal,” said Ron Faris, President and CEO of Ocwen. “In addition to starting out the year with a $2.6 million profit, we received $280 million in cash from New Residential, we announced an agreement to acquire PHH Corporation, and we helped almost 11,600 struggling families remain in their homes through loan modifications that included $59 million of debt forgiveness.”Specifically, Ocwen reported 11,598 loan modifications during Q1. Seventeen percent of these loan modifications included debt forgiveness, according to Ocwen, which totaled $59 million.Ocwen also reported a decrease in loan delinquencies from 9.3 percent as of December 31, 2017, to 9.0 percent as of March 31, 2018. Ocwen said this decrease was “primarily driven by loss mitigation efforts.”“Just as importantly, we continued to make progress on the regulatory front,” Faris continued. “We began the process of deploying our excess liquidity, we largely completed the liquidation of Automotive Capital Services, and we saw our GAAP stockholders’ equity increase by $85 million to $630 million, or $4.73 per share during the quarter. We are also making steady progress towards closing our acquisition of PHH, which we expect to occur in the second half of the year.”You can read Ocwen’s full Q1 2018 financial results by clicking here. Previous: Will Tax Reform Drive Migration in Years to Come? Next: Fed Weighs in on Interest Rates, Inflation Share Save Sign up for DS News Daily Home / Daily Dose / Ocwen Reports Q1 2018 Earnings, Highlights Debt Forgiveness Demand Propels Home Prices Upward 2 days ago About Author: David Wharton May 2, 2018 1,920 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Bank Earnings debt forgiveness Delinquencies Loan Modifications Ocwen Ocwen Financial Corporation Q1 2018 Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Journal, News, Servicing Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago
FacebookTwitterLinkedInEmailORLANDO, Fla. (AP) — Yoshimar Yotun had a goal and an assist to help Orlando City beat Real Salt Lake 3-1 on Sunday night for its franchise-record sixth consecutive win.Lamine Sane headed home a corner kick from Yotun in the 63rd minute to give Orlando City (6-2-1) a 2-1 lead. It was the first MLS goal for the 31-year-old defender, who signed with Orlando City on Feb. 20.Real Salt Lake’s Corey Baird chipped it over a sliding Joe Bendik into a wide-open net to open the scoring in the 12th minute. Damir Kreilach’s arcing pass from midfield led Baird into the left side of the area, where he raced past Sane for the finish.Dom Dwyer made it 1-1 in the 60th minute, heading home a cross from Sacha Kljestan for his sixth goal — second most in MLS — in six games this season. Yotun, from the near the spot, hammered home the rebound of a shot by Dom Dwyer to cap the scoring in the 78th.Bendik had eight saves, his most since recording 10 stops on April 24, 2016.Real Salt Lake (3-5-1) in winless in its last nine road games. May 6, 2018 /Sports News – Local Orlando City tops Real Salt Lake 3-1 for 6th straight win Written by Tags: MLS/Real Salt Lake/Soccer Associated Press
Prime Minister Scott Morrison visiting a residential building site to speak with young families about the Coalition’s First Home Loan Deposit Scheme. Picture: Gary Ramage.Independent property analyst Michael Matusik is tipping two 0.25 per cent rate cuts in the second half of this year — one in July or August and the second drop in November. “And I wouldn’t be surprised if the cash rate fell to 0.75 per cent sometime in the first half of 2020,” Mr Matusik said.AMP Capital chief economist Shane Oliver said it was possible the RBA would cut rates in June, but could wait a bit longer. First-home buyers, left, watch as an auctioneer calls for bids at a house auction.THE number of first home buyers looking to jump into the housing market has spiked in anticipation of an interest-rate cut next week.There has been a 55 per cent rise in visitors to first homebuyer guides this month — the biggest increase in a year — according to comparison site, Finder.In just the past week, seven lenders lowered their rates on owner-occupier fixed and variable home loan products as demand for mortgages increases, with the lowest variable rate on the market currently 3.29 per cent. RELATED: Buyers still keen on new units The Reserve Bank of Australia is widely expected to cut interest rates at its June meeting. Photo: Saeed Khan/AFP.An increasing number of economists are expecting an interest-rate cut of 0.25 per cent when the Reserve Bank of Australia meets next Tuesday — the first change to the cash rate in almost three years.Finder insights manager Graham Cooke said it was a strong indication first home buyers were finally seeing an opportunity to break into the market.“There’s a perfect storm brewing for first home buyers,” Mr Cooke said.“Property prices are dipping, lenders are dropping their rates and a first homebuyer’s scheme is on the cards.“After 31 months of no change, all signs are pointing to a cash rate cut next Tuesday. The expected move is causing a flurry of rate drops among lenders, especially on the fixed home loan front.” Home loans are set to become cheaper in the wake of the newly elected Coalition government.Mr Oliver said the federal government’s First Home Buyer Deposit Scheme, the end of threats to negative gearing and capital gains tax, APRA’s move to lower hurdles to getting first-home loans and the likelihood of the official interest rate being cut were gamechanging for the housing market.“These developments taken together are big,” Mr Oliver said.“They suggest that property prices will bottom earlier than otherwise and we can see that later this year.” First homebuyer confidence is returning to the Australian housing market. Photo: AP/Keith Srakocic.But Mr Cooke said potential buyers should be careful about taking advantage of the Coalition’s proposed First Home Loan Deposit Scheme.More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours ago“A lower deposit will add more cost to your loan in the long term, and the increased risk to the bank may mean a higher interest rate,” he said.“However, the potential savings from this scheme could be significant.” MORE: Star builders’ new home for sale First homebuyer interest has spiked in anticipation of an official cut to interest rates.Under the scheme, first home buyers in Brisbane could be getting on the property ladder with a deposit of just $27,500 for a $550,000 house.Marcel Thieliant of Capital Economics expects the RBA to cut interest rates to 1.25 per cent in June, followed by another 25 basis point cut in August.“We expect the RBA to cut rates to 0.75 per cent by year end,” he said.CommSec is also pricing in a rate cut in June and the possibility of another in August, as is RBC Capital Markets.
GC Rieber Shipping’s 50% owned geoservices company Shearwater GeoServices has been awarded 3D surveys in the Mediterranean and South East Asia, adding seven vessel months to the current backlog. The surveys will be starting in the first half of Q4 2018. The Mediterranean survey will take approximately two months, and the South East Asia surveys will last for five months.“We are pleased to be awarded these surveys firming up the backlog over the 2018/19 winter season, after we have seen utilization of 85% and transit of 15% for the first three quarters of 2018,” said Irene Waage Basili, Shearwater CEO.The survey in the Mediterranean area covers approximately 1,300 sqkm and will utilize the Polar Empress vessel. The contract in South East Asia covers two survey areas, totaling over 8,000 sqkm, and will be conducted by the Polar Duchess vessel.Shearwater GeoServices is jointly owned by GC Rieber Shipping and RASMUSSENGRUPPEN.
The Batesville Lady Bulldogs suffered their first loss of the season on Monday night to the Mr. Vernon Lady Marauders by a final score of 4-1. Mt. Vernon came out ready to play from the get go and had Batesville on their heels for the first 15 minutes.With 28 minutes to play in the half, the Lady Marauders attacked the right wing as the Batesville defense retreated. The ball was dropped to the top of the 18 as Stindle stepped into her shot and hit it past the outreached gloves of Olive Cerniglia. Batesville wouldn’t go down without a fight however. With 10 minutes to play in the half, Carlie Werner drew a foul deep in Mt. Vernon territory. Denise Davalos stepped up with a driven free kick that the goalkeeper had no chance to save. The 1-1 game didn’t last even a minute, as the Lady Marauders drove right down the field on the kickoff and netted their second goal of the game.In the second half, Batesville showed their toughness and played very well. They outshot Mt. Vernon 11-2 in the second half and 15-10 for the game, but it was Mt. Vernon’s shots that ended up on the scoreboard. With the game 2-1 for much of the second half, the Lady Marauders would get two counterattack goals away from the run of much of the play in the half. The first one came with 30 minutes to play and the second came with 10 minutes to play.“I was pleased with our effort in the second half. We showed our toughness and didn’t get down on ourselves. We are battling a lot of injuries right now so the key to this week is getting healthy while still trying to compete at a high level. We will learn from this match and begin building our momentum back these next 2 weeks before sectionals.” Coach Laker commented on the match.The JV girls soccer team took on the Mt. Vernon Mauraders on Monday evening. With only 40 minutes to play the girls started with intensity and finished that way as well. With possession being about 60/40, with the Bulldogs in control, they had many opportunities to take. Unfortunately, the ladies were unable to finish a shot and scored no goals in the half. The Lady Mauraders on the other hand were able to finish one goal and maintain their lead. The ending score was 0-1.JV Writeup by Coach Griggs
MESA, Ariz. — Brett Anderson’s spring training start already is going much better than last year’s.Anderson was jobless around this time in 2018 before signing with the A’s in late March. The left-hander re-signed just before the start of this spring to have time to prepare with a big league club.“It’s a little bit different this year because I didn’t really have a spring training last year,” Anderson said. “It’s new compared to last year so it’s just getting back on a routine of pitching …
SAN FRANCISCO — Kevon Looney was slated to play up to 20 minutes in the Golden State Warriors’ regular season opener against the Los Angeles Clippers at Chase Center.He played 11:22 minutes in the first half and did not return for the second with right hamstring tightness. It was the same hamstring that sidelined him for the preseason.The Warriors said they removed him from the game as a precaution.Kevon Looney (Right hamstring tightness) will not return to tonight’s game. Precautionary. …
South Africa celebrates the centenary of the birth of Nelson Mandela throughout 2018; the commemoration begins this month with the announcement of a new design for the R5 coin that celebrates the life and work of Madiba.The design of the new R5 coin, commemorating the centenary of Nelson Mandela. The coin was issued as legal tender in South Africa in January 2018. (Image: South African Mint)Finance Minister Malusi Gigaba authorised the new coin for national circulation on 19 January 2018.The coin features a portrait of Mandela, with the years 1918 and 2018 engraved alongside new decorative security features. The flip side features the South African coat of arms, replacing the usual wildebeest design on the original R5 coin. This side also features the words “South Africa” in English and isiXhosa.Since 1996, all South African coins have borne one of the country’s 11 official languages on a rotational basis.The original R5 coin was introduced as legal tender in 1994, commemorating Mandela’s inauguration as South Africa’s first democratically elected president.Another dedicatory coin was minted in 2008 in celebration of Mandela’s 90th birthday.The design of the new R5 coin, commemorating the centenary of Nelson Mandela. The coin was issued as legal tender in South Africa in January 2018. (Image: South African Mint)In a statement announcing the minting of the 2018 coin, the Reserve Bank of South Africa advised that it was national legal tender and, while it may hold a special personal value to all South Africans, it would not increase in value if stockpiled by collectors.The Bank encouraged South Africans to use the coin: “If you receive one of these coins as change, please do not hold on to it. Use it to make a purchase so that the next person can also experience [its] beauty.” It added: “[While] there could be a buyer willing to pay a higher price to collect [the] commemorative circulation coin, the Reserve Bank does not attach a value higher than the face value to such coins.”Read more Brand South Africa articles on South Africa’s past commemorative coins: New R5 coin for Mandela’s birthdayThe Griqua Town R5 coinSouth Africa marks Queen Elizabeth’s 90th with Kruger Rand coinNew Mandela banknotes for South AfricaSource: Business Tech news website, GCIS, South African Mint Would you like to use this article in your publication or on your website? See Using Brand South Africa material.
Share Facebook Twitter Google + LinkedIn Pinterest Iowa State University just reported their 2017 corn and bean breakeven points. It showed that the average Iowa bean farmer can lock in 2017 crop profits with current fall market prices. That is not necessarily the case for corn. Corn on corn farmers would likely lose with today’s prices, while corn on beans are showing some profitability.I think many farmers will take notice and plant more beans in 2017. Still, South American bean production is an unknown. If we assume a small issue in South America supply, which leads to increases for U.S. prices, the added bean acres in 2017 may be offset. However, if bean acres exceed 90 million acres and South America doesn’t have a reduced supply, then substantially lower values are a real concern. Market ActionWith corn prices so low, I’m always looking for ways to add additional premium to my corn prices. Rather than wait around for prices to go up, which they may not, I manufacture trades that allow me to add premium to my corn prices, while minimizing risk. In the following example I detail out several trades I have done recently that show how premium can sometimes be added even during a sideways market. Trade Detail #1 — SepSep – Sold $3.30 calls against Dec futures for a 15 cent premiumHindsight — this was a little early and the price was low. So, I wanted to increase this price to profitable levels with the next trade. Trade Detail #2 — NovExpected market direction back in Nov ’16 — Sideways through JanTrade Detail — On 11/22/16 sold $3.60 straddle for 23 cents (selling a put and call at the same price)Potential Benefit — increase potential premium (23 cents) if market stays close to $3.60 at the end of JanuaryPotential Concern — reduced or no premium if the market moves significantly from that levelWhat happened — Option expired 1/27 at $3.61Action — I bought back both straddles for 2 cents totalWhy buy them back? One of the options is exercised if I don’t buy them back. I don’t want that. I just want the premium from the trade.Result — Net premium 21 cents and position unchanged.Current PositionSold Dec Futures: $3.30+ 15 cents — Trade #1 above, call premium+ 21 cents – Trade #2 above, straddle+ 11 cents – Market carry, rolling Dec futures to Mar+ 14 cents – Market carry, will roll from Mar to JulyCurrent Position Value Against July Futures ($3.30 + 61 cents of premium): $3.91Trade Detail #3 – 1/27/17Expected market direction today — Probably sideways with some upside potential into early summerTrade Detail — 1/27/17 sold July $3.90 straddle for 43 centsExpires 6/23/17 right when there is the best chance for a weather rallyPotential Benefit — If July futures close at $3.90 on 6/23, I keep the 43 cent premiumPotential concern — reduced or no premium if the market moves significantlyWith this, every penny lower than $3.90 I get less premium until $3.47 and at $3.47 or lower the original corn sale is removed, but I keep the 61 cents above to be added to another sale. For every penny higher than $3.90 I get less premium until $4.33. With $4.33 or higher I have to make another sale at $4.33 and my $3.90 sale is stalled at $3.90. Developing a strong marketing strategyThis trade is most profitable if the market goes nowhere (basically staying between $3.70 to $4.10 is optimal) through June. If that happens, I will have taken a trade that started in September at $3.30 a turned it into something between $4.10 and $4.30.However, I have to understand the potential concerns of each trade I do. While this trade is mostly betting the market will be sideways, the market can always go up or down too. While I don’t want to take a sale back at $3.47, I know it is a possibility. However, historically usually the market doesn’t trade significantly lower in the middle of June when weather conditions are still unknown and drought could still happen. I hope the market is above $4.30 in June, as I would be perfectly happy to be forced to sell at $4.30.I don’t like putting all my kernels in one bucket. I prefer to have multiple trades based upon many likely market outcomes throughout the year. I think a sideways market is a real possibility with what I know today, so this trade capitalizes on that. But, I also have protections in place in case something unforeseen happens.As I’ve said before, “hoping the market goes up” is not a marketing strategy. Neither is “make the most money I can.” The most profitable AND least risky marketing strategies include different trades that take into consideration likely scenarios while balancing unforeseen circumstances.Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results. He can be contacted at [email protected]
Liverpool defender Matip declares himself fit for Man Utd clashby Freddie Taylor8 days agoSend to a friendShare the loveLiverpool defender Joel Matip insists he’ll be fit to face Manchester United on Sunday.The defender has missed the Reds’ last two matches against Leicester City and RB Salzburg.”I’m back in training and hopefully I will stay fit,” he said on Thursday. “I’m back in training and I feel good. Of course, if I’m needed, I will be there.”Injuries [happen] to a player. Now I’m back, I hope I stay fit and I can focus on the positives.” About the authorFreddie TaylorShare the loveHave your say