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Five Star CEO Addresses Industry at Disaster Preparedness Symposium

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago July 31, 2019 3,475 Views Related Articles About Author: Mike Albanese The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Five Star CEO Addresses Industry at Disaster Preparedness Symposium Natural Disasters 2019-07-31 Mike Albanese Sign up for DS News Daily Home / Daily Dose / Five Star CEO Addresses Industry at Disaster Preparedness Symposium The Best Markets For Residential Property Investors 2 days agocenter_img Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Previous: Measuring Distressed Property Prices Next: Freddie Mac Reports Increased Income The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Hurricane Katrina caused more than $81 billion in property damage and killed more than 1,800 people more than a decade ago. Fourteen years later, industry leaders returned to New Orleans not to react, but to prepare, at the 2019 Five Star Disaster Preparedness Symposium. During his opening remarks at the Symposium, before hundreds of assembled business leaders, Five Star Global President & CEO Ed Delgado addressed the legacy of Hurricane Katrina, both on the city of New Orleans itself and in the form of important lessons taken away from the response to that event and those that came later.Delgado discussed how houses are marked in the aftermath of a disaster, as well as the impact of flooding in Houston in the aftermath of Hurricane Harvey. A strong focus for both Delgado’s remarks and the tenor of the event as a whole was on how the industry can better prepare for future disasters.”The impact of natural disasters upon housing is, and will remain, a critical focus for our industry,” Delgado said. “It is crucial that we maintain an open dialogue with all stakeholders to ensure that we, as an industry, are better positioned to mitigate losses and assist homeowners in their time of need.”Delgado recently appeared on CNBC in a featured series, “Rising Risks,” covering the impact of natural disasters upon the U.S. residential housing system.Over the course of the day, industry leaders from Fannie Mae, Freddie Mac, Mortgage Contracting Services, DIMONT, and others discussed topics such as crisis communication, preparation, technology, and protecting borrowers from fraud. The event also included a segment focused on Puerto Rico’s ongoing recovery efforts, two years ago Hurricane Maria devastated the island. Mabel Guzman, President of the Chicago Association of Realtors, told DS News that she hoped to “learn about solutions and how to effectively mitigate and prepare at every level,” from city to state to Federal. Richard Roniger, Single-Family Performance Management Director at Freddie Mac, said that events such as the Disaster Preparedness Symposium are an opportunity to share best practices and new solutions, so “we can collectively help borrowers when they need it the most.” He also spotlighted the importance of discussing and learning about “new technology and products that could advance our industry, as well as efforts to assist servicers when dealing with disaster-impacted mortgages.” Guzman, who welcomed attendees with an overview of the day’s discussion, addressed Congress in March, along with the National Association of Realtors, urging them to work toward long-term, sustainable reforms for the National Flood Insurance Program (NFIP). The NFIP was set to expire on May 31, but was granted a last-minute extension—the 12th in two years. Guzman, however, told DS News that she is not confident a long-term solution will ever be agreed on. “A long-term solution is not likely,” Guzman said. “We may see another short-term extension while they work out details, or just another one-year extension.” The NFIP covers 5 million policyholders in flood-prone areas. The Senate had approved two bills to extend the program: the first is part of the disaster relief legislative package that would extend the NFIP through September 30, and the second would provide a two-week extension.Denis Brosnan, President and CEO of DIMONT, told DS News that technology has played a large role in tracking disasters for many years, and that companies are now taking full advantage of its capabilities. “As the availability of data continues to grow, as well as the specificity of that data continues to become more readily available, disaster-impact data can then be matched back to a portfolio of properties within as soon as one week after the disaster,” said Brosnan, who is moderating a Symposium panel on disaster technology. “This is accomplished through tighter integrations across third parties and their related providers. Additionally, through real-time alerts and notifications of weather events as they occur … we are able to expand and contract impacted property areas as the size and scope of the disaster changes, which in turn supports better understanding of storm impacts (damage, insurance claims, etc.) and faster response times by service providers.”Tim Carpenter, Fannie Mae’s Director, Disaster Response & Rebuild, Housing Access, gave an update on Puerto Rico’s rebuild two years after Hurricane Maria. He said working with the Commonwealth and FEMA has been helpful, and there has been progress on homes with mortgages, but there continues to be a struggle in non-traditional housing. “No clear title, no permits, no code—you combine these issues and it becomes much more difficult to get a mortgage to repair or sell that home,” Carpenter said. Hurricane Maria served as a harsh reminder of how important it is to prepare before a natural disaster strikes. “Post Maria even gathering and sharing information was a challenge. Now our Puerto Rican lenders understand that in order to work better together, we need to all have the detailed information. Luckily, better communications and better relationships now exist,” he said.  Subscribe in Daily Dose, Featured, Government, Loss Mitigation, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Natural Disasterslast_img read more

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Allahabad HCBA Write To Chief Justice Seeking Clarifications On E-Filing Notice; Urge For Leniency Until Advocates Adopt To Digitalization [Read Letter]

first_imgNews UpdatesAllahabad HCBA Write To Chief Justice Seeking Clarifications On E-Filing Notice; Urge For Leniency Until Advocates Adopt To Digitalization [Read Letter] Akshita Saxena13 April 2020 12:17 AMShare This – xThe Allahabad High Court Bar Association has sought certain clarifications with regard to the E-filing procedure notified by the Registry last week. In a letter addressed to Chief Justice Govind Mathur, the HCBA has sought clarity as to what matters constitute “urgent matters” and whether all bail/ anticipatory bail applications would alone be treated as urgent for…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Allahabad High Court Bar Association has sought certain clarifications with regard to the E-filing procedure notified by the Registry last week. In a letter addressed to Chief Justice Govind Mathur, the HCBA has sought clarity as to what matters constitute “urgent matters” and whether all bail/ anticipatory bail applications would alone be treated as urgent for enabling e-filing. Similar queries are also sought with respect to civil cases and the Association has asked whether any categorization has been made for urgency in civil matters. Inter alia, the letter points out that the E-filing notice is silent with respect to filing of vakalatnama and the modes and methods thereto and it also gives an impression that for e-filing, affidavits would be required to be sworn at Allahabad, which makes the entire system illusory amid lockdown. “The necessity of filing vakalatnama and swearing of affidavit at Allahabad would make whole system illusory in this period of lockdown when all movements are restricted. Furthermore, in case a client or pairokar can come to Allahabad in violation of the lockdown, the lawyers and clerks would be subjected to exposure to infection of Covid 19 on account of physical interaction which would defeat the purpose of the system,” the letter states. In this backdrop the Association has suggested that Aadhar based applications may be used for eliminating physical presence of client or pairokar while fixing responsibility on the relevant persons for averments made. “Adhaar e-sign would obviate the necessity of filing affidavits as also digital signatures and secure the physical well being of Advocate and their clerks by eliminating physical interaction,” the letter states. Clarification is also sought in the direction that only lawyers on the Advocates roll of the High Court will be given access to the video link with a corresponding link to the designated senior Advocate whose name may be clearly mentioned in the case. The Association has lastly urged the court to not pass any adverse orders against the lawyers in case they default in following the procedure, given that the changes in the procedure are “drastic” and lawyers need some time to “understand and adopt” the system. They have also urged that the present system of normal filing should be continued for a period of one month so as to provide time to lawyers for upgrading their windows, internet connectivity, etc. Read Letter Next Storylast_img read more