Posts Tagged ‘Four’

hfa Chosen to Market Four Brands of North America’s Largest Building Products Manufacturer

hfa Chosen to Market Four Brands of North America’s Largest Building Products Manufacturer
Hitchcock Fleming & Associates Inc. (hfa) has been selected by Bonsal American to provide marketing and communications for the SAKRETE®, ProSpec®, GemSeal® and Amerimix brands. Bonsal American is an Oldcastle® company. Oldcastle is the largest manufacturer of building products in North America.

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Powerful You! celebrates four years

Powerful You! celebrates four years
Sparta Powerful You!, founded by Sue Urda and Kathy Fyler in 2005, is based on the need for women to come together in a growth-oriented and nurturing space for the purpose of creating real relationships.

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Paille suspended four games

Paille suspended four games
By necessity and design, the Boston Bruins will sport a slightly new look when they continue their four-game homestand this afternoon against the San Jose Sharks.

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Police: Wales Driver was Nearly Four Times Over Limit

Police: Wales Driver was Nearly Four Times Over Limit
A driver involved in a Fri., Jan. 28 crash in the Town of Wales had a blood alcohol level nearly four times the legal limit, Erie County Sheriff Timothy B. Howard’s office reported.

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Feldman Law Center – The Four Road Blocks That are Slowing Loan Modifications

Hope and optimism emanating from the announcement of the Obama Administration’s “Making Home Affordable” plan have been replaced by the cold reality that the program has gotten off to start deemed by industry watchers as “anemic”. After almost four months since President Obama first announced the $75 billion mortgage rescue effort, the administration continues to tweak the program in an attempt to reach its originally stated objective of saving up to 5 million homeowners from foreclosure. Standing between the anemic start and lofty goals of the program are four roadblocks:

1) Overloaded loan modification processors – While the specifics of the plan were released in the first week of March, lenders couldn’t start handling applications until systems were re-programmed and processors were brought up to speed, which took an additional four to six weeks. Processors were immediately buried with stacks of applications that had been accumulating during the conversion to the new guidelines. Participants in the process report that servicers are still digging out from the initial rush as applications continue to flood their desks. Troubled borrowers, many backed up against the possibility of foreclosure, have become increasingly frustrated to the point where they have abandoned the process to retain their own legal assistance.  JP Morgan Chase spokesman Tom Kelly recently said of the ramp-up, “It’s an enormous task. We’re moving quickly, although not as quickly as an individual might wish.”

2) Investors – The massive sums of money that supported the real estate/mortgage boom came from investors on Wall Street, pensions, and other institutions. Servicers say those investors are now balking at some of the terms being presented when a loan needs to be modified. The net present value test, a little known aspect of the plan, allows for a calculation to determine whether the greater return for investors will be achieved via modification or foreclosure. In the modification versus foreclosure decision, investors have been threatening lawsuits against servicers when the servicers are deemed to not be acting in the best interests of their investors. The threatened legal action adds another layer to the home loan modification process and can draw out the approval process even more. The “safe harbor” bill recently passed by Congress was intended to alleviate that logjam by protecting servicers from investor lawsuits but it’s likely that lawsuits will arrive on the servicers doorsteps anyway, safe harbor or not.

3) Lenders – Lenders are caught in a three sided bind between the above mentioned borrowers/investors and their own capital structure. No longer required to mark their loans to market, they can carry the value of the loans in their own portfolios at values they can rationalize, whether factual or not. Loan modifications could generate reviews of portfolio values, and nobody wants to go there in the current environment.

4) Unemployment – According to John Taylor, head of the National Community Reinvestment Coalition, “Unemployment is becoming a bigger factor than almost anything.” When sub-prime mortgages started blowing up it was attributed to the risks inherent in lending to lower quality borrowers. Increasing unemployment, in addition to taking down the lower quality borrowers, is now hitting prime mortgages. In fact, primes are now going into default at a much faster rate than sub-primes as previously solid borrowers are now being affected by the contracting economy.

Of the four roadblocks, the toughest barrier is unemployment due to the fact that, regardless of credit scores, if a homeowner doesn’t have a job a loan modification isn’t going to help. Short sales, cash for keys, or foreclosure become the next options. At that point every side of the three sided bind ends up on the losing end.

At Four Points, Every Eligible Stay Will Earn One Southwest Airlines Rapid Rewards Credit Through Exclusive Promotion

At Four Points, Every Eligible Stay Will Earn One Southwest Airlines Rapid Rewards Credit Through Exclusive Promotion
WHITE PLAINS, N.Y.–(BUSINESS WIRE)–Every eligible stay at a Four Points by Sheraton hotel will earn one Southwest Rapid Rewards® credit through a promotion launched exclusively for members of Starwood Preferred Guest® and Southwest Rapid Rewards. Four Points by Sheraton, with over 150 great hotels in 24 countries, offers the self-sufficient traveler a new kind of style and comfort, combined …

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Fisher Cats Come From Behind Four Times in 15-7 Victory

Fisher Cats Come From Behind Four Times in 15-7 Victory
The New Hampshire Fisher Cats put on a relentless hitting display during a back-and-forth affair over the New Britain Rock Cats to take the 15-7 win Saturday night at Merchantsauto.com Stadium.

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