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[ad_1] Tokyo court to rule whether deputy helped former Nissan chief Ghosn hide $80 million [ad_2] Source link

[ad_1] Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets started Wednesday’s trade with losses, falling nearly 700 points or 1.1% to hover around 55,600. NSE Nifty 50 was sitting just above 16,600, falling more than 1%. Bank Nifty was down more than 2%, giving up 35,400. Broader markets were largely in the red while India VIX was up close to 5%. Tata Steel gained 3% as the top Sensex gainer, followed by Reliance Industries, Power Grid, and Mahindra & Mahindra. Bajaj Auto was down 5%, accompanied by ICICI Bank, Asian Paints, and HDFC Bank. Much-awaited LIC IPO may get delayed given the deteriorating geopolitical situation and the consequent volatile state of financial markets. Market watchers point out that the government’s idea to rethink the timeline is understandable pointing out that sticking to the March-end target, amidst the prevailing subdued sentiment, could require the shares to be priced lower than the currently expected Rs 2,000-2,100. Lower pricing of the LIC IPO would not help the government reach its divestment target. Only in a good market, experts say, would it be possible to attract a market capitalisation of Rs 13-14 lakh crore. Earlier yesterday, Nirmala Sitharaman said that the government may reassess its timeline given the market conditions. [ad_2] Source link

[ad_1] UWM’s headquarters in Pontiac, Michigan. United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, posted another record for production in 2021, but lower margins and declines in fair value of mortgage servicing rights impacted its earnings. The company reported on Tuesday $1.56 billion in profits in 2021, down 53.6% from the $3.38 billion registered in the previous year, which was the best in the history of the mortgage industry. In the fourth quarter, the net earnings decline was even higher compared to the same period of 2020: a fall of 82.5%, from $1.37 billion to $239.8 million in Q4 2021. In comparison with the third quarter of 2021, profits fell 27%. According to the Pontiac, Michigan-based lender’s earnings report, UWM originated $226.5 billion in mortgage loans 2021, a 24% increase compared to the previous year. Purchase mortgages rose from 23.5% to 38.4% of the total, the lender said. Loan origination volume reached $55.2 billion in the fourth quarter, down 12.4% from $63 billion in the prior quarter but up 0.94% from the $54.6 billion originated in the fourth quarter of 2020. UWM said it originated $24.5 billion in purchase mortgages during the fourth quarter, a 103% increase year over year. The company said earnings were impacted by a decline in fair value of mortgage servicing rights (MSRs) compromising $139 million in the fourth quarter and $587.8 million for the full year. Another reason for the decline in earnings is that UWM’s margins have declined in a competitive market. According to the company’s earnings report, UWM’s gain-on-sale margin fell to 80 basis points in the fourth quarter, down from 94 bps in the third quarter and a huge decline from the 305 bps it notched in the fourth quarter of 2020. “2021 was a fantastic year for UWM with incredible milestones: from becoming a public company to delivering another year of record production,” said Mat Ishbia, UWM’s CEO. He added: “We also delivered our best fourth quarter production of all time, coupled with growth in the broker channel.” UWM estimates it achieved around 31% in market share on the wholesale channel in 2021. It has been the largest wholesale mortgage lender in the U.S. by closed loan volume for seven years in a row. UWM is forecasting originations for the first quarter to range between $33 billion and $42 billion, and its gain-on-sale margin to range from 75 to 85 basis points. Because UWM’s cost to produce a loan is so cheap, the lender’s executives argue it is better positioned to weather pressure on margins than its rivals. However, during a conference call with UWM’s executives on Tuesday, analysts raised concerns related to costs in a landscape defined by lower margins and less origination volume. Tim Forrester, UWM’s chief financial officer, said the cost per loan will increase in the first quarter of 2022 as volume declines, “as anything when you have a smaller denominator,” but will remain around $1,500 per loan during 2022. “We do expect the first quarter to have a little bit of higher costs, but that will be made up in Q2 and Q3.” UWM believes expenses will not become an issue despite lower volumes because of its technology, executives said during the call. They mentioned Bolt, a platform launched in the third quarter of 2021 that sped up the clear-to-close time on conventional loans by an average of approximately five days. Regarding margins, Ishbia said retail lenders will see quite a bit of compression in 2022. Meanwhile, UWM is basically at the floor already. “Do I think that margins are going to go up in the second, third, and fourth quarters? Yes, or flat, but they will not go down, is my perspective,” Ishbia said. “I don’t see it (margins) going lower than the 75 bps, 85 bps, basically.” According to Ishbia, UWM sees the competitive pressures as an opportunity to move loan officers from the retail channel to the wholesale channel, increasing the company’s market share. “It’s a business development strategy,” he said on the call. “It’s working fantastically.” Virtually all rival nonbanks posted declines in profits in 2021 when compared to the preceding year due to pressures on margins, though originations were still solid, and in some cases increased. Last week, Rocket Companies, the parent of Rocket Mortgage, reported $6 billion in net income, down 35.4% from the prior year. Originations rose to $351 billion, up nearly 10% from 2020. Margins, however, declined to 2.80% in the fourth quarter, a sequential decline of 25 basis points and a 161 bps decline from a year prior. LoanDepot, another multichannel lender with a retail bend, also saw margins rebound in 2021, posting income of $623.1 million, compared to $2 billion the previous year. As of 9:50 a.m. EST on Tuesday, UWM’s stock was trading at $4 a share, down 7.4% from the prior day. The post UWM’s profits fall 54% in 2021 despite record production appeared first on HousingWire. [ad_2] Source link

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[ad_1] FTSE Russell says annual indexes reconstitution to occur in late June [ad_2] Source link

[ad_1] Pritam Singh, who farms on 110 acres, including some land taken on lease, at Urlana Khurd village of Haryana’s Panipat district, has just sold his harvest of Basmati rice varieties — PB 1121 and PB 1509 — at the local mandi at Rs 3,800 and Rs 3,500 a quintal, respectively. Both the varieties, developed by the Indian Agricultural Research Institute (IARI), Pusa, Delhi, fetch farmers like Singh financial benefits in the range of Rs 25,000 to Rs 30,000 per acre, after taking into account cost of cultivation as well as lease rental for the land. “Since the introduction of high-yielding varieties like PB1121 and PB1509, the production as well as quality in terms of size of the Basmati rice grain increased thus bringing economic benefits to us,” Singh told FE. Singh said prior to the introduction of these two varieties, the yield of traditional varieties was in the range of 12 –13 quintal per acre, while the PB1121 and PB1509 varieties have an average yield of 24 quintal and 26 quintal per acre, respectively.While the high-yielding and larger-grained PB1121 variety was certified as Basmati rice in 2008, the PB1509, which takes fewer weeks for maturity, was released in 2013. Two Basmati rice varieties developed by IARI have contributed 70% of the total value of cumulative exports of long-grain aromatic rice from India worth Rs 2.38 lakh crore between 2010 and 2019, thus bringing benefit to farmers. India exported on an average 3.74 million tonne (mt) of Basmati rice annually during the stated period, of total production of around 5 mt. According to an analysis by IARI of the economic value accrued because of Basmati rice, Rs 1.66 lakh crore worth of export earnings between 2010 and 2019 was from the shipment of PB1121 and PB1509 rice varieties, while domestic sales were to the tune of Rs 51,501 crore in the same period. After deducting the cost of production, the IARI assessment has stated that Rs 1.34 lakh crore has been accrued as earnings to estimated 10 lakh farmers in Punjab, Haryana, Himachal Pradesh, Uttarakhand, parts of Uttar Pradesh and Jammu & Kashmir, who grow two varieties of aromatic and long grained rice. “Improved Basmati varieties have brought prosperity to millions of Basmati farmers by improving their standards of living, better education for children and best health care for family members,” Ashok Kumar Singh, director, IARI, told FE. During 2010-2019, annually, Basmati rice was grown in 18.34 lakh hectares on an average, out of which PB11121 and PB1509 was grown in 67% and 10% of the area, respectively. The rest of the varieties grown by farmers include PB1, PB6 and PB1718, which are also developed by IARI. ajor export destinations of India’s Basmati rice include Saudi Arabia, Iran, Iraq, Yemen and the UAE, besides some European countries. India exported Basmati rice worth Rs 29,849 crore ($4018 million) in 2020-21. Recently, IARI has released improved varieties PB1847, PB1885 and PB1886; these are improved varieties with inbuilt resistance to bacterial blight and blast diseases. “These varieties would reduce the use of pesticides significantly in basmati cultivation,” Ranjith Kumar Ellur, scientist, rice section, division of genetics, IARI, said. [ad_2] Source link

[ad_1] This year’s list of TECH100 Real Estate honorees represent a huge shift in the direction that the real estate industry is heading in. Though real estate may have fallen behind in technological advances compared to other industries in the past, all of that is changing, and this year’s list of Tech100 winners embody that shift. With endless new offerings in the world of fintech and proptech, these organizations have found solutions to every pain point that currently exists in the real estate process. Below are the Tech100 companies driving innovation in real estate. Click through each profile to learn more about each honoree and see why they were selected as one of the top 100 technology companies in real estate. Company Name Company Website Markets Served Company HQ Ark7 ark7.com/ Real Estate Investment and SFR San Francisco, CA DataTrace datatracetitle.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Agoura Hills, CA homegenius homegenius.com/ Real Estate Sales Wayne, PA Luxury Presence luxurypresence.com/ Real Estate Sales Santa Monica, CA Qualia qualia.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE San Francisco, CA SOA Labs homeiqreport.com/agent/ Real Estate Sales San Francisco, CA ATTOM attomdata.com Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Irvine, CA Delta Media deltamediagroup.com/ Real Estate Sales Canton, OH HomeSmart homesmart.com/ Real Estate Sales Scottsdale, AZ Market Leader marketleader.com/ Real Estate Sales Bellevue, WA Realogy realogy.com/ Real Estate Sales Madison, NJ Spruce spruce.co/ Real Estate Investment and SFR New York, NY Auction.com auction.com Real Estate Sales Irvine, CA Doma doma.com/ Real Estate Sales San Francisco, CA Homesnap homesnap.com/ Real Estate Sales Bethesda, MD Modus Title modustitle.com/home Real Estate Sales, Real Estate Investment and SFR Multifamily / CRE Seattle, WA Realtracs realtracs.com/ Real Estate Sales Brentwood, TN Stagerie stagerie.com/ Real Estate Sales Clive, IA BombBomb bombbomb.com Real Estate Sales Colorado Springs, CO Earnnest earnnest.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Greenville, SC Hometap hometap.com/ Real Estate Investment and SFR Boston, MA MooveGuru mooveguru.com/ Real Estate Sales Roswell, GA Redfin redfin.com Real Estate Sales Seattle, WA Sundae sundae.com/ Real Estate Sales, Real Estate Investment and SFR San Francisco, CA BoomTown boomtownroi.com/ Real Estate Sales Charleston, SC Evocalize evocalize.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Seattle, WA Homeward homeward.com/ Real Estate Sales Austin, TX MoxiWorks moxiworks.com/ Real Estate Sales, Real Estate Investment and SFR Seattle, WA ReferralExchange referralexchange.com/ Real Estate Sales San Francisco, CA Tavant tavant.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Santa Clara, CA BoxBrownie.com boxbrownie.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Sunshine Coast, Queensland, Australia eXp Realty exprealty.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Bellingham, WA HouseCanary housecanary.com/ Real Estate Investment and SFR San Francisco, CA Mynd mynd.co/ Real Estate Investment and SFR Oakland, CA Relitix relitix.com/ Real Estate Sales Lake Geneva, WI titleLOOK titlelook.com/ Real Estate Sales Hampden, ME Breakthrough Broker breakthroughbroker.com/ Real Estate Sales Denver, CO Fathom Realty fathomrealty.com/company/ Real Estate Sales McKinney, Texas Inside Real Estate insiderealestate.com/ Real Estate Sales Draper, UT Notarize notarize.com/ Real Estate Sales, Real Estate Investment and SFR Multifamily / CRE Boston, MA Remine info.remine.com/ Real Estate Sales Vienna, VA Transactly transactly.com/platform/ Real Estate Sales St. Charles, MO Bright MLS brightmls.com/home Multiple Listing Service Rockville, MD First American Data & Analytics dna.firstam.com/ Real Estate Sales, Real Estate Investment and SFR Santa Ana, CA Inspectify inspectify.com/ Real Estate Investment and SFR Seattle, WA Offerpad offerpad.com Real Estate Sales Chandler, AZ RESAAS resaas.com/ Real Estate Sales Vancouver, Canada TRIBUS tribus.com/ Real Estate Sales Greenwood Village, CO CAPE Analytics capeanalytics.com/ Real Estate Investment and SFR Mountain View, California Flipscout newsilver.com/flipscout/ Real Estate Sales, Real Estate Investment and SFR Hartford, CT June Homes junehomes.com/ Multifamily / CRE New York, NY OJO Labs ojo.com/ Real Estate Sales Austin, TX Ribbon ribbonhome.com/ Real Estate Sales New York, NY Unison unison.com/ Real Estate Investment and SFR San Francisco, CA @properties atproperties.com Real Estate Sales Chicago, IL CertifID certifid.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Grand Rapids, Michigan Flueid Software Corporation flueid.com/ Real Estate Sales Austin, TX Keller Williams Realty go.kw.com/ Real Estate Sales Austin, TX Opendoor opendoor.com/ Real Estate Sales San Francisco, CA Rocket Homes rockethomes.com/ Real Estate Sales Detroit, MI United Real Estate unitedrealestate.com/ Real Estate Sales Dallas, TX 3 Data Pulse 3datapulse.com Real Estate Sales Lake Mary, FL Chime Technologies chime.me/ Real Estate Sales Phoenix, AZ Flyhomes flyhomes.com/ Real Estate Sales Seattle, WA Kiavi kiavi.com/ Real Estate Investment and SFR San Francisco, CA Orchard orchard.com/ Real Estate Sales New York, NY Roofstock roofstock.com/ Real Estate Investment and SFR Oakland, CA UpNest upnest.com/ Real Estate Sales San Mateo, CA ActivePipe activepipe.com/ Real Estate Sales Austin, TX Cole Realty Resource coleinformation.com/products/cole-realty-resource/ Real Estate Sales Omaha, NE FoxyAI foxyai.com/ Real Estate Sales, Real Estate Investment and SFR Multifamily / CRE New York, NY Knock knock.com Real Estate Sales New York, NY Pacaso pacaso.com Real Estate Sales San Francisco, CA Showingly showingly.com/ Real Estate Sales Denver, CO Usherpa usherpa.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Denver, CO Agent Image agentimage.com/ Real Estate Sales El Segundo, CA Compass Real Estate compass.com/ Real Estate Sales New York, NY Framework Homeownership how-to-buy-a-house.frameworkhomeownership.org/ Real Estate Sales, Real Estate Investment and SFR Boston, MA Knox Financial knoxfinancial.com/ Real Estate Investment and SFR Boston, MA Paymints.io paymints.io/ Real Estate Sales, Real Estate Investment and SFR Multifamily / CRE Charlotte, NC ShowingTime showingtime.com/ Real Estate Sales Chicago, IL Xome xome.com/ Real Estate Sales, Real Estate Investment and SFR Dallas, TX Alanna alanna.ai/ Real Estate Sales McKinney, TX CoreLogic corelogic.com/ Real Estate Sales, Real Estate Investment and SFR Irvine, CA FundingShield fundingshield.com/ Real Estate Investment and SFR Multifamily / CRE Newport Beach, CA Landis landis.com/ Real Estate Sales New York, NY Property Sync Software Systems getpropertysync.com/ Real Estate Sales, Real Estate Investment and SFR, Multifamily / CRE Hayden, ID SimpleShowing simpleshowing.com/ Real Estate Sales Atlanta,

[ad_1] I didn’t get a peek into my week/goals post up last week… so here’s an update from the past two weeks! My 10 Goals for Two Weeks Ago Personal Goals Delete 1000 photos and videos from my phone. Do one extra house-cleaning project every day (follow along on Instagram for details!) Do a craft project. Reading Goals Finish reading Unoffendable and The Woman They Could Not Silence. Finish listening to The Four Winds. (My 7-day loan from the library was up before I could finish this — I’m hoping it becomes available again soon from Libby!) Family Goals Watch the Olympics together as a family. Go on a date with Jesse. Business/Blogging Goals Write a post sharing a recipe for Sheetpan Dinner. Make two reels. Write devotional for Proverbs31.org. My 6 Goals for This Week Personal Goals Delete 1000 photos and videos from my phone. Do one extra house-cleaning project every day (follow along on Instagram for details!) Do a craft project. Reading Goals Finish one book. Family Goals Go on a date with Jesse. Business/Blogging Goals Write a post on 50 Things You Don’t Have to Pay For. [ad_2] Source link

[ad_1] Ukrainian cyber resistance group targets Russian power grid, railways [ad_2] Source link