The Mortgage Market in the Potential Government Shutdown

first_img About Author: Seth Welborn Previous: Daniel Young Made Partner at Schiller, Knapp, Lefkowitz & Hertzel Next: Fraud Risk Increases Nationwide April 24, 2017 1,607 Views in Daily Dose, Featured, Government, News Tagged with: Government Mortgages Shutdown Trump Demand Propels Home Prices Upward 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Mortgage Market in the Potential Government Shutdown Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Demand Propels Home Prices Upward 2 days agocenter_img The Mortgage Market in the Potential Government Shutdown The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Government Mortgages Shutdown Trump 2017-04-24 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago With the federal funding running out on Friday and a potential government shutdown looming, expect to see an impact on the mortgage industry. Access to tax documents and other government paperwork may prove difficult in the event of a shutdown.CNBC noted that “non-essential” employees, such as those that process paperwork through the Internal Revenue Service, would be furloughed during a shutdown, causing roadblocks for those applying for mortgages. Additionally, lenders would not be able to verify Social Security numbers during a shut down.”There’s no ‘Wink-wink, keep your laptops and we’ll call you,'” said Mortgage Bankers Association CEO David Stevens. “They’re barred from the building and barred from using the network for access. So, you have a real shutdown.”During the last government shutdown, in 2013, three in 10 homebuyers and sellers reported problems in the application process, most reporting a delay in closing. The National Association of Realtors (NAR) found that in 2013, 17 percent of closings were delayed during the shutdown. However, CNBC notes that the housing market is stronger now than it was in 2013, and application volume is greater. This could mean that more buyers may be affected this time.During a shutdown, access to the FHA would be severely limited. NAR’s 2013 survey found that the closed FHA and USDA were the top negative impacts on the mortgage process during the shutdown. A few sellers even reported that they completely lost their bids during the shutdown and three percent said they got a weaker offer.If Congress and the Trump administration do not reach a decision by Friday, just a day before President Trump’s 100th day in office, a shutdown may be imminent. Government institutions from the Smithsonian to the IRS would be impacted, as their employees are furloughed.“Shutdown is not a desired end,” Mick Mulvaney, President Trump’s Budget Director, said on “Fox News Sunday.” “It’s not a tool. It’s not something that we want to have.” Sign up for DS News Daily last_img read more

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Fire incident reported at Equinor’s Melkoeya LNG plant in Norway

first_img The Hammerfest LNG receives and processes natural gas from the Snøhvit field. (Credit: Equinor ASA) Norwegian oil and gas company Equinor has reported a fire at the Hammerfest LNG plant located in Melkoeya, north of Norway, resulting in an emergency closure of operations.Although no injuries were reported to the personnel, work at the LNG plant has been shut down in compliance with emergency routines.Equinor said it was notified about a fire in a turbine at the plant.However, the flames were no longer visible and work to cool down the affected area continued, it said.The emergency response was completed by the firm and the facilities have been secured.Work underway to determine the cause of the fireThe firm is now working to determine the cause of the fire and assess the damages caused due to the incident.In a press statement, Equinor said: “Equinor’s emergency response organisation has mustered to support in handling the situation. Relevant authorities have been notified.”The Hammerfest LNG receives and processes natural gas from the Snøhvit field in the Barents Sea. The gas is transported to the facility via a 160km pipeline.The latest incident follows hours after the facility was restarted following an outage on 11 September 2020, reported Reuters.The news agency reported Equinor as saying that an attempt to restart the LNG plant on 13 September was also aborted due to a gas leak.Earlier this month, Equinor awarded a front end engineering and design (FEED) contract to Aibel for the modification of the Hammerfest LNG plant in connection with the Snøhvit Future project.The company, as the operator of the project, has awarded the contract on behalf of the Snøhvit Unit partners that include Petoro, Total E&P Norge, Neptune Energy Norge and Wintershall Dea Norge. The incident led to the temporary closure of work at the Hammerfest LNG plant in Melkoeya, Norway, in compliance with emergency routines last_img read more

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Gold Coast home offers dual living with two kitchens and multiple living areas

first_img375 Rio Vista Blvd, Mermaid Waters.SOAK up the sunshine from the back deck of this Mermaid Waters house — on the market at offers over $1.295 million.The two-storey house on sought-after Rio Vista Blvd features two kitchens, one upstairs and one downstairs, as well as an open plan formal lounge and dining areas.There are four bedrooms all up including a master bedroom on each level. Both have views overlooking the water. 375 Rio Vista Blvd, Mermaid Waters.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North12 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoThe property is perfect for entertaining with a covered area overlooking the pool and waterfront.Timber decking and glass panelling creates a polished look outside.Harcourts Coastal agent Christine Tucker is marketing the property.“Family living doesn’t get much better than this,” she said.“With a fantastic wide waterfront outlook to a spacious interior, this expansive waterfront residence offers a range of options for the family of any size.” 375 Rio Vista Blvd, Mermaid Waters.The property last changed hands in 2015.The highest price paid for a property on Rio Vista Blvd is $2.22 million in 2016 for a four-bedroom mansion featuring 7m ceilings and floor to ceiling windows. center_img 375 Rio Vista Blvd, Mermaid Waters.last_img read more

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WindEurope: Floating Offshore Wind Ripe for Industrial Scale Roll-Out

first_imgFloating offshore wind is no longer consigned to the laboratory: it’s a viable technology ready to be rolled out on an industrial scale, according to the latest report from WindEurope released at the Offshore Wind Energy 2017 event in London.Not only has the technology for floating offshore wind reached maturity, costs are also predicted to plummet in the coming years. One of the key advantages of floating offshore wind is that turbines are located further away from shores in areas with higher average wind speeds without depth constraints.Turbines can be significantly larger on floating installations and construction, installation, operation and maintenance costs could be lower than on fixed sites. Capacity can thus be improved leading to an increased generation of electricity, allowing for cost reductions of 10% by 2020 and 25% by 2030, WindEurope said.Ivan Pineda, WindEurope Director for Public Affairs, said: “Floating offshore wind is no longer an R&D exercise. The technology has developed rapidly in recent years and it is now ready to be fully commercialised at utility scale projects. Adding this option to the market means more offshore wind in total and it’s this extra capacity that we will need to meet the 2030 goals.”Floating offshore wind offers a vast potential for growth. 80% of all the offshore wind resource is located in waters 60m and deeper in European seas, where traditional bottom-fixed offshore is less attractive. At 4,000 GW, it is significantly more than the resource potential of the U.S. and Japan combined.Tapping into this inexhaustible resource will be key to expanding the overall capacity of offshore wind and support the EU in reaching the target of 27% of energy by renewables by 2030.As highlighted in WindEurope’s latest report, Unleashing Europe’s offshore wind potential, offshore as a whole could in theory generate between 2,600 TWh and 6,000 TWh per year at a competitive cost – EUR 65/MWh or below, representing 80%-180% of the EU’s total electricity demand.last_img read more

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Coach Steve Sarkisian publicly addresses missteps at Salute to Troy event

first_imgSorry Sark · Head coach Steve Sarkisian issued an apology after using inappropriate langauge and exhibiting unsuitable behavior at an event on campus for alumni and donors over the weekend. Mariya Dondonyan | Daily TrojanThree days after reportedly speaking while intoxicated at USC’s annual Salute to Troy event, head football coach Steve Sarkisian publicly apologized to the media on Tuesday morning before practice in a press conference at Howard Jones Field.“I’d like to apologize for my behavior Saturday night,” Sarkisian said. “It was inappropriate. I feel bad for the University of Southern California, [President] Max Nikias, [Athletic Director] Pat Haden, our players and my own kids. The way I acted was irresponsible. It is something I obviously don’t condone.”Sarkisian reportedly used foul language and called out other programs at the on-campus event Saturday night in front of donors and alumni before being taken off stage by Haden and Associate Athletic Director J.K. McKay.The 41-year-old head coach admitted he mixed unspecified medication with alcohol and indicated that he will seek treatment, although he does not believe he needs to attend rehab.“I truly believe in myself as a coach to lead this team and to be the best coach for this team to win a championship,” Sarkisian said. “I’m thankful that I’m surrounded by wonderful people, and that this university can offer no better support than any other university in the country, but I was not right.”Sarkisian admitted that there was alcohol in the coaches’ locker room “after great wins,” but maintained that there has never been alcohol in the team’s players’ locker room. Alcohol has been banned from the facility entirely, according to Sarkisian. “I don’t believe so,” Sarkisian said when asked if he had a drinking problem. “Through Pat and the University, I’m going to find that out. I’m going to go to treatment and deal with it.”The second-year head coach said he met with the team and disclosed everything. He also said reached out to Nikias and talked at great length with Haden. “At the end of the day, you play the hand you’re dealt,” Sarkisian said. “I’m going to play my hand. I’m not proud of the things that have occurred for me, but I know I’m a good football coach, and I know we’re a good football team.” Two of the team’s leaders, quarterback Cody Kessler and linebacker Su’a Cravens, also showed support for their coach following his press conference. “He came to us as a man and looked us in the face and apologized, and I think this brought us closer together,” Kessler said. Sarkisian’s acts didn’t go unpunished, though, as Kessler said the team made him do up-downs on Monday.“He came back drenched in sweat,” Kessler said.Following the press conference, the team got back on the field for its first practice of the week as it now tries to shift the attention back to football on the field.last_img read more

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