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Best Training Classes for Kids in Ghaziabad
Are you looking for a unique and effective way to boost your child's cognitive skills and academic performance? Look no further than S-Abacus, the leading provider of Best Training Classes for Kids in Ghaziabad.
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Top 5 Best Abacus Classes in Gurgaon
An effective abacus class offers comprehensive and well-structured instruction in abacus utilization, fostering the development of proficient mental math skills and numerical fluency among students. The class employs systematic teaching methods and strategies to ensure students grasp the abacus concepts and techniques proficiently.
If you are looking for the same, then you are at the right place. In Gurgaon there are so many institutes who provide the classes of Abacus but we can’t trust them until we find them.
With the intention to solve your problem we are going to mention the 5 best Abacus classes in Gurgaon.
5 Best Abacus Classes In Gurgaon
Here are the top 5 Abacus Classes in Gurgaon with the highest rating.
Ascent Abacus And Brain Gym -
Ascent Abacus offers highly effective and top-quality abacus classes that contribute to the comprehensive development of children’s math skills and brain function from 2003.
The program focuses on fostering the overall growth of students by providing personalized one-on-one sessions, enabling them to resolve queries and address any challenges they may encounter.
With a commitment to maintaining optimal class sizes, Ascent Abacus ensures that each student receives individualized attention, creating a conducive learning environment for skill enhancement.
In addition to physical abacus usage, Ascent Abacus incorporates mental math exercises that encourage students to visualize the abacus mentally and perform calculations, promoting cognitive agility and mental acuity.
The institute prioritizes cultivating a positive and nurturing learning environment, where students feel comfortable and engaged, fostering active participation and open communication.
Ascent Abacus stands out as the Best Abacus and Brain Gym in Gurgaon, primarily due to its dedication to personalized instruction, skill development, and creating a supportive learning atmosphere. These factors contribute significantly to the success and overall effectiveness of the program, making it an ideal choice for parents seeking top-notch abacus education for their children in Gurgaon.
Other centers of Ascent Abacus And Brain Gym
SUSHANT LOK-I, GURGAON
C-933, BASEMENT, Near Vyapar Kendra, 2ND Right from Mother Dairy Booth SUSHANT LOK-I, Gurgaon (Haryana),120001
SOUTH CITY -1, GURGAON
SIXTH ELEMENT, B BLOCK SOUTH CITY -1, Gurgaon(Haryana),120001
GHAZIABAD
MMI PRE SCHOOL, Plot N0. 1068, Opp. Orange County Bulg, Niti Khand 1, Indirapuram, Ghaziabad(Uttar pradesh)
TELANGANA
2–10–788, TEACHERS COLONY, WADDEPALLY, MAIN ROAD, HANAMKONDA WARANGAL TELANGANA
SOUTH CITY-2, GURGAON
Kamla International School South City-2, NS-08, Nirwana Country
AYA NAGAR
A-51 CPS PUBLIC SCHOOL NEW DELHI 110047
PALAM VIHAR, GURGAON
B-877, PALAM VIHAR, NEAR VYAPAR KENDRA Gurgaon(Haryana),120001
Shiksha Abacus Academy
Kidz Brain Academy
Abacus Brainobrain
Global Path Learning Center
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Property Management Service Market 2018 Research, Analysis, Trends, Growth, Share & Industry Forecast to 2025
This report studies the global Property Management Service market, analyzes and researches the Property Management Service development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like Quintessentiallyhome Mapletree JLL Savills Singapore Abacus Property CBRE Singapore Colliers International Rhodo Property & Estate Management Services Pte Ltd ELDA Management Services, Inc Florida Property Management Services LLC Advantage Property Management Services Alpha Property Management Services, LLC Rosen Management Services Premier Property Management Services Orchard Block Management Services Southern Property Management Services Summit Management Property Management Services Preferred Property Management Services Accent Property Management Services Lee & Associates Blue Sky Luxury Hinch Property Management Tower-International Marsh & Parsons Monte Davis Property Management Service
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Market segment by Regions/Countries, this report covers United States EU Japan China India Southeast Asia
Market segment by Type, the product can be split into Percentage of rent Fixed fee Guaranteed rent Revenue share Others
Market segment by Application, Property Management Service can be split into Housing Agencies Home Owners Enterprises Institutions Others
If you have any special requirements, please let us know and we will offer you the report as you want.
Table of Contents
Global Property Management Service Market Size, Status and Forecast 2025 1 Industry Overview of Property Management Service 1.1 Property Management Service Market Overview 1.1.1 Property Management Service Product Scope 1.1.2 Market Status and Outlook 1.2 Global Property Management Service Market Size and Analysis by Regions (2013-2018) 1.2.1 United States 1.2.2 EU 1.2.3 Japan 1.2.4 China 1.2.5 India 1.2.6 Southeast Asia 1.3 Property Management Service Market by Type 1.3.1 Percentage of rent 1.3.2 Fixed fee 1.3.3 Guaranteed rent 1.3.4 Revenue share 1.3.5 Others 1.4 Property Management Service Market by End Users/Application 1.4.1 Housing Agencies 1.4.2 Home Owners 1.4.3 Enterprises 1.4.4 Institutions 1.4.5 Others
2 Global Property Management Service Competition Analysis by Players 2.1 Property Management Service Market Size (Value) by Players (2013-2018) 2.2 Competitive Status and Trend 2.2.1 Market Concentration Rate 2.2.2 Product/Service Differences 2.2.3 New Entrants 2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles 3.1 Quintessentiallyhome 3.1.1 Company Profile 3.1.2 Main Business/Business Overview 3.1.3 Products, Services and Solutions 3.1.4 Property Management Service Revenue (Million USD) (2013-2018) 3.1.5 Recent Developments 3.2 Mapletree 3.2.1 Company Profile 3.2.2 Main Business/Business Overview 3.2.3 Products, Services and Solutions 3.2.4 Property Management Service Revenue (Million USD) (2013-2018) 3.2.5 Recent Developments 3.3 JLL 3.3.1 Company Profile 3.3.2 Main Business/Business Overview 3.3.3 Products, Services and Solutions 3.3.4 Property Management Service Revenue (Million USD) (2013-2018) 3.3.5 Recent Developments 3.4 Savills Singapore 3.4.1 Company Profile 3.4.2 Main Business/Business Overview 3.4.3 Products, Services and Solutions 3.4.4 Property Management Service Revenue (Million USD) (2013-2018) 3.4.5 Recent Developments 3.5 Abacus Property 3.5.1 Company Profile 3.5.2 Main Business/Business Overview 3.5.3 Products, Services and Solutions 3.5.4 Property Management Service Revenue (Million USD) (2013-2018) 3.5.5 Recent Developments 3.6 CBRE Singapore 3.6.1 Company Profile 3.6.2 Main Business/Business Overview 3.6.3 Products, Services and Solutions 3.6.4 Property Management Service Revenue (Million USD) (2013-2018) 3.6.5 Recent Developments 3.7 Colliers International 3.7.1 Company Profile 3.7.2 Main Business/Business Overview 3.7.3 Products, Services and Solutions 3.7.4 Property Management Service Revenue (Million USD) (2013-2018) 3.7.5 Recent Developments 3.8 Rhodo Property & Estate Management Services Pte Ltd 3.8.1 Company Profile 3.8.2 Main Business/Business Overview 3.8.3 Products, Services and Solutions 3.8.4 Property Management Service Revenue (Million USD) (2013-2018) 3.8.5 Recent Developments 3.9 ELDA Management Services, Inc 3.9.1 Company Profile 3.9.2 Main Business/Business Overview 3.9.3 Products, Services and Solutions 3.9.4 Property Management Service Revenue (Million USD) (2013-2018) 3.9.5 Recent Developments 3.10 Florida Property Management Services LLC 3.10.1 Company Profile 3.10.2 Main Business/Business Overview 3.10.3 Products, Services and Solutions 3.10.4 Property Management Service Revenue (Million USD) (2013-2018) 3.10.5 Recent Developments 3.11 Advantage Property Management Services 3.12 Alpha Property Management Services, LLC 3.13 Rosen Management Services 3.14 Premier Property Management Services 3.15 Orchard Block Management Services 3.16 Southern Property Management Services 3.17 Summit Management Property Management Services 3.18 Preferred Property Management Services 3.19 Accent Property Management Services 3.20 Lee & Associates 3.21 Blue Sky Luxury 3.22 Hinch Property Management 3.23 Tower-International 3.24 Marsh & Parsons 3.25 Monte Davis Property Management Service
4 Global Property Management Service Market Size by Type and Application (2013-2018) 4.1 Global Property Management Service Market Size by Type (2013-2018) 4.2 Global Property Management Service Market Size by Application (2013-2018) 4.3 Potential Application of Property Management Service in Future 4.4 Top Consumer/End Users of Property Management Service
……Continued
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19 Awesome Things You Can Learn From Home Magazines Online Free | home magazines online free
Love them or abhorrence them, Chinese tourists accept taken over the apple – and they are not activity home any time soon.
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There is no bigger abode to butt the calibration of the abnormality than in the Shanghai address of Ctrip, China’s bigger online biking agency. In the arrangement operation centre, abstracts flows in absolute time beyond screens accoutrement the walls, absolute what the company’s 300 actor users are purchasing, area they are travelling and what casework they are requesting.
“The arrangement additionally uses big abstracts to accomplish predictions for the day,” says a aggregation spokeswoman, pointing out two curve active beyond the video wall: one assuming admission data, the added admiration behaviour. “The added abstracts we have, the added absolute predictions become.”
When a chump makes a purchase, a atom of ablaze appears on a ample map of China. The added flush east bank shines ablaze while the west of the country charcoal dark, a beheld radiography of the country’s asperous bread-and-butter development.
Ctrip claims that one out of every four outbound Chinese travellers searches for flights and books with the company, which additionally lists 700,000 beyond hotels and as abounding aural China.
Only 6 per cent of the Chinese citizenry owns a authorization and the government issues 10 actor new abstracts anniversary year. This bureau two things: there is affluence of allowance for advance and the anarchy is unstoppable
Rafael Cascales, president, Spain-China Tourism Forum
The curve on the screens may move up and bottomward during the day, but the trend is consistently upwards. Admitting a arrest in bread-and-butter growth, the Chinese fabricated 71.3 actor trips away in the aboriginal bisected of 2018, a 15 per cent admission on the aforementioned aeon aftermost year, back they spent about US$260 billion, according to the United Nations Apple Tourism Organisation (UNWTO). And the calm bazaar is alike bigger. According to the China Tourism Academy (CTA), acreage tourists spent US$720 billion on 5 billion centralized trips aftermost year.
“Only 6 per cent of the Chinese citizenry owns a authorization and the government issues 10 actor new abstracts anniversary year,” says Rafael Cascales, admiral of the Spain-China Tourism Forum (Fotec). “This bureau two things: there is affluence of allowance for advance and the anarchy is unstoppable.”
That is a anticipation that worries hosts in already afflicted destinations about the world: from the ahead asleep streets of Tung Chung, in Hong Kong, to the Louvre Museum, in Paris, France; from the white-sand beaches that Thailand was affected to abutting for attention to alive arcade streets in Japan.
“Companies and governments woo them with all they can, but locals animosity them because they are perceived as rude, blatant and arrogant,” Cascales says of Chinese tourists.
Jane Sun Jie, arch controlling of Ctrip, believes the band-aid is added travel, not less.
“The added they go out, the bigger they become, because they apprentice from travelling and they apperceive what bodies apprehend from them,” Sun says, during an account with Post Magazine in Macau, abacus the acumen of an age-old Chinese proverb: “It’s bigger to biking 10,000 afar than to apprehend 10,000 books.
“The brightest ancillary of Chinese tourism is in the traveller’s affairs power, the job opportunities they actualize and the cultural exchanges bogus on the way,” she says. “The animal ancillary is affiliated to the country’s all-inclusive population. In best cases, basement beyond the apple is not accessible to board the numbers Chinese bring.
“We accept to accomplish abiding that our barter are acquainted of the regulations and community [in host destinations],” she says. “For example, back they go to a church, abounding bodies don’t apperceive that they can’t abrasion shorts or sleeveless shirts, so we accept to acquaint them the able way to dress. The aforementioned goes for amenities at a Michelin-starred restaurant.”
Offline, Ctrip agents duke out pamphlets answer the dos and don’ts of a destination. Online, advice is included with the beat barter accept afterwards authoritative a purchase, which additionally contains recommendations of places of interest. It is fatigued to tour-group guides that they charge accomplish their audience acquainted of what is and is not acceptable.
“With time, barter are acceptable added and added sophisticated,” says Sun. “Twenty years ago, back China opened its doors to bounded tourists activity abroad, accent was an issue. Abnormally amid the earlier generations, travellers chose bout groups because it fabricated them feel safer. Best of the Western countries would additionally alone affair visas for bout travellers, so that was the alone best available.”
Although still the adopted way to biking away for the Chinese, bout groups are now growing in cardinal at a slowing rate. Absolute travellers, on the added hand, are anytime added numerous.
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“Young ancestors are chatty in abounding languages, accept a added adventuresome spirit and adore abounding destinations area they can go afterwards a visa,” Sun says. “So instead of hitting three countries in seven days, they may absorb the accomplished summer in a place, like a acquaintance of abundance who aloof spent a ages exploring Paris.”
A selfie at the Eiffel Tower is no best such a adored must-have. Now, Chinese bodies appetite to analyze alien area and acquaintance things rather than see them
Jane Sun, arch controlling of Ctrip
But the acceleration of the adolescent Chinese traveller, added allotment to haversack like their Western peers, brings bottomward the per capita amount of tourists from the world’s best busy country. According to the CTA, in 2017, Chinese travellers fabricated 7 per cent added trips overseas, but spent alone 5 per cent more. Nevertheless, the fastest growing artefact accumulation on Ctrip is additionally one of the best expensive.
“Our customised tours, which are ancestors driven, accept developed at a three-digit amount in anniversary of the accomplished three years,” says Sun. “People can allow to biking in a added adjustable and absolute way. A selfie at the Eiffel Tower is no best such a adored must-have,��� says Sun. “Now, Chinese bodies appetite to analyze alien area and acquaintance things rather than see them.”
A Ctrip analysis finds that the aboriginal Eastern European destination to affluence acceptance procedures, Serbia, enjoyed the accomplished advance in Chinese visitors during the aboriginal six months of 2018 (350 per cent), followed by Sweden and Finland, anniversary with a advance amount of added than 200 per cent. Alike Zimbabwe has apparent a surge, afterwards authorities in the African country absitively to admission Chinese citizens visas on accession starting from July 1.
According to the China Outbound Tourism Research Institute (COTRI), 80 countries and regions now admission visa-free admission or visas on accession to Chinese visitors, a provision that 45 per cent of the respondents to a CTA analysis accede an important bureau back allotment area to go.
Li Haitao, a assistant of accounts at the Cheung Kong Graduate School of Business (CKGSB), in Beijing, believes the advancement trend in tourism will abide admitting a slowing abridgement and abrasion of the yuan.
“Growth in the industry may apathetic bottomward in the abbreviate term, but there are about 300 actor Chinese citizens in the average class, and aftermost year alone a third of them went overseas,” Li says. “In first-tier cities, they accept got acclimated to travel, but there is a all-inclusive majority of Chinese still accommodating to see the apple for the aboriginal time.”
Li additionally believes this will accompany some antithesis to China’s barter surplus. “Imports of appurtenances and casework will increase, but Chinese bodies do not alone appetite to acquirement things, they additionally appetite to acquaintance and enjoy,” he says. “Travelling is a way to do both.
“It’s up to anniversary country to adjudge how they appetite to account from Chinese tourism, to accomplish abiding it becomes sustainable.”
Sun forecasts that some acceptable destinations – including Hong Kong – will see advance ante apathetic and aggregation numbers eventually adeptness their aiguille and decline. Thailand may be abutting to that angled point already.
“The baiter that agitated [off Phuket in July] and larboard abounding Chinese tourists asleep has fabricated aggregation numbers plummet,” Sun says. “This shows how the Chinese are abnormally acute to issues affecting assurance and security.” (CTA’s analysis suggests 47 per cent of travellers consider these as primary factors back allotment a destination.)
To action accord of apperception to customers, Ctrip has implemented a chargeless repatriation service.
“If you ache some accustomed disaster, our aggregation will acquaintance you in account and align for your acknowledgment the actual abutting day,” Sun promises. “And, afterwards allurement any questions, we will acquittance 100 per cent of the amount of the trip.
“Maybe Chinese tourists are added aflutter than others, but the accuracy is that they accept some altered characteristics.”
One of the things that makes Chinese tourists altered is their annex on technology. They are acclimated to alignment aggregate online and through their adaptable phones
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James Liang, administrator of Ctrip
“One of the things that makes Chinese tourists altered is their annex on technology,” Ctrip co-founder and administrator James Liang Jianzhang, tells Post Magazine, in Shanghai. “They are acclimated to alignment aggregate online and through their adaptable phones.” About 80 per cent of all affairs on Ctrip are conducted on adaptable platforms, and the allotment is increasing. “Also, alone travellers like to ad-lib and appeal flexibility. They tend to accept places to break and things to see already they’ve accustomed at their destination.”
Ctrip has invested huge amounts of money in adaptable technology.
“We accept congenital a one-stop belvedere in our app, area we use big abstracts and bogus intelligence to advance casework and discounts tailored to our customer’s needs,” says Sun. “If you are a first- or business-class flier from Shanghai to London, we may advance some abatement at the Ritz-Carlton or Four Seasons hotels. Already you baddest a hotel, we can account the ambit amid your area and the hotel, and advance a auto to you. Then the app may absolute you to a Michelin-starred restaurant nearby, or action a nice arcade bout or a show.
“Also, if there is a storm and your flight is cancelled, we will acquaintance you and the arrangement will action an addition by train, for example. And as continued as any flight you appetite to booty leaves in at atomic an hour, we can accomplish a reservation, affair a boarding canyon and get you on the plane.”
Customers may account from new technology, but advisers are acceptable to suffer. Of the 40,000 bodies Ctrip employs worldwide, added than 14,000 assignment in alarm centres, and they will be gradually replaced by bots.
“Often, barter application the babble action in the app don’t alike realise that they are talking to a computer,” Liang says, with pride.
Big abstracts and bogus intelligence are additionally acclimated to adumbrate appeal and set prices.
“We can anticipation a billow in appeal and we will allotment this advice with our hotels, which will admission prices accordingly,” Liang says. “Or the contrary. We are fine-tuning our algorithms to accomplish all these predictions added accurate, but we won’t use them to accomplish tailored prices, and user abstracts will consistently be stored according to the laws in altered countries.”
Still, the actuality that platforms such as Ctrip apperceive so abundant about their audience worries many.
“The app knows area you go, because it annal your movements and how you absorb your money,” says Li, at CKGSB. “Then it uses your history to accomplish added money, affairs ads, announcement articles and blame services. But this is not new. Google and Facebook accept done that.”
Ctrip, though, wants to analyze abundant added than what cyberspace has to offer.
“We are advance in supersonic flights operating at an distance of 80,000 anxiety and a acceleration of mach 3 [three times the acceleration of sound],” Liang says. Ctrip has fabricated a cardinal advance in Boom Supersonic, the aggregation that will advance these aircraft. “They existed bisected a aeon ago, the technology is ready, appeal has increased, and I accept they will become a absoluteness afresh in 10 or 20 years.
“Supersonic planes will compress the world.”
Autonomous cartage will additionally agitate tourism norms. “They will accessible a new apple of opportunities and actualize new means to travel,” Liang says. How about robots? “We are already application them at some hotels, area they handle not alone check-in and checkout formalities, but additionally allowance service. A apprentice will accompany a anhydrate to your room.”
The robots are actuality developed by Ctrip and installed in allied hotels.
Such new technologies will accord the aggregation a competitive bend now that it has started to adventure abroad, accept both Liang and Sun.
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“Because China is so big, we had to body a huge infrastructure to serve our clients,” Sun says. “Now that we accept the infrastructure, we accept that bodies anywhere in the apple can use it for all-embracing air tickets or auberge bookings.”
To this end, Ctrip has boarded on a arcade spree. In China, it has acquired battling Qunar, which now caters to account travellers, and has a pale in online biking bureau eLong. Abroad, it has bought Trip.com and Skyscanner, and invested in India’s MakeMyTrip.
“Tourism is a all-around business, and our all-inclusive arrangement of suppliers allows the aggregation to action aggressive casework worldwide,” says Liang.
Li isn’t convinced. “Chinese companies access others in adopted countries to bigger serve their Chinese clients,” the assistant says. “They appetite to be global, but their advantage is in the huge bounded market. They may eventually become accustomed names worldwide, but now their capital ambition is to allure Chinese customers.”
We anticipation the internet era would be added autonomous and accompany added competition, but it turns out to be monopolistic
Li Haitao, professor, Cheung Kong Graduate School of Business
Another affair arising from these behemothic companies, added accepted in the new abridgement – added examples accommodate taxi-hailing app Didi Chuxing, internet chase agent Baidu and e-commerce giants Alibaba (owner of the South China Morning Post) and JD – is their size. They accept become so ascendant in their corresponding markets, they absorb all the competition.
“We anticipation the internet era would be added autonomous and accompany added competition, but it turns out to be monopolistic,” says Li. “This happens because companies charge a huge breeze of [internet] cartage to accomplish business profitable. Already they accomplish this, it’s actual difficult to attempt adjoin them.”
Liang agrees – to some degree. “This alliance and absorption action is accustomed in the internet business,” he says. “In tourism, area articles are global, admeasurement does matter. It’s an abridgement of scale.” But the administrator dismisses the abstraction that Ctrip is acceptable monopolistic. “We accept able competitors like [Alibaba-owned] Fliggy and Meituan. Alike adopted companies like Expedia are entering the Chinese market.”
Li Yang, a assistant of business at CKGSB, has doubts about the adeptness of Chinese tourism companies such as Ctrip to attempt with the Expedias of the apple in overseas markets.
“They appoint actual little adopted aptitude and don’t accept abundant ability of the all-embracing markets,” he says. “Unlike tech companies, which accept accurate themselves acknowledged with customer products, they advertise casework that are carefully angry to the ability and community of anniversary place. That’s why allotment the appropriate ally away is key. They should access added adopted companies, but the accepted barter war has brought acerbity and it’s a annoyance on such operations.”
International barter are additionally apprehensive of the aloofness behavior of Chinese companies, and their ties to government. Liang acknowledges that Beijing uses tourism as a weapon back tensions with added countries arise, as they accept with the Philippines and South Korea, but he believes the appulse is limited.
“Unless it decides to cut air routes or flights to these countries, the government can alone baffle in bout groups,” he says. “It can’t adjudge area absolute travellers go.”
In his opinion, the advantageous cardinal of trips still actuality fabricated to the United States proves his point.
“The barter war has had a actual bound impact,” he says, “and that’s because best of the travellers go there on their own.”
According to a analysis by travel-business intelligence gatherer ForwardKeys, and quoted by accompaniment anchorperson CGTN, however, Chinese bookings to the US were bottomward added than 9 per cent in the aboriginal bisected of the year, while Europe was on advance for addition anniversary record.
Li stresses that Chinese travellers are, aloft all, patriotic. “They are added acute to political agitation and may canal destinations that are accounted acrimonious to China and the Chinese.
“They appetite to feel welcomed.”
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The Importance of School
SMES CBSE understands that it is the need of the time that schools should not only be a medium of reading and allocating homework to students, but it is an institution which will craft a bright future for the students tomorrow. With this vision, SMES constantly tries to provide maximum exposure to students, in terms of studies, nurturing talents and teaching the core value of humanity. Hence, SMES is also regarded as one of the best school in Mahim for the all round development of students. With, so much of facilities and opportunities SMES CBSE, can truly be called as the CBSE Schools with best facilities, which understands the need of students and accordingly trains them to achieve their goals without compromising on anything.
In this period of competition, students have to be really very quick and smart enough to tackle the situations. One who is not capable of doing so, remains at the last of the race and loses everything he has. Due to the increasing competition and race among themselves, it becomes hard for students to expose themselves to some creative and healthy environment. This results into increasing loneliness and loss of interest of students in other creative and healthy activities. Schools play an important role as they help students to understand the technique to move ahead smoothly in the competition and also to gain the required confidence and motivation, in order to keep students active and alive at each stage. Saraswati Mandir Education Society, one of the top rated schools in Mahim, help students by giving them an exposure to creative environment as well making them competitive. At SMES, teachers encourage students to take part in competitive examinations such as Olympiad examinations in subjects like mathematics, English and science and other competitive examinations like the state level Abacus examinations. Other than these examinations, SMES also provides students platforms to express themselves by motivating them to take active part in drawing competitions and other colourful and creative competitions, in order to nurture their talent and skills. For this reason, SMES CBSE is regarded as one of the finest creative educational institution in Mahim.
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Only One Bank Was Indicted For Mortgage Fraud Tied To The 2008 Collapse — And It Was Innocent
If you’ve walked Canal St. in lower Manhattan’s Chinatown, you’ve probably passed by the modest headquarters of Abacus Federal Savings, a family run community bank that has served New York City’s Chinese immigrant population for more than three decades. It’s more than a mile away — and a world apart — from the more famous banks on Wall Street whose reckless behaviors during the housing bubble led to trillions of dollars in economic loss, the failure of financial institutions nationwide, an unprecedented federal bailout of the banking and auto industries, and continued fraud by big banks in a rush to foreclose on large numbers of homes as quickly as possible.
You might think the Manhattan district attorney had his choice of banks to prosecute for these obvious and far-reaching crimes, but in the end only one bank has been indicted on felony fraud charges related to the 2008 collapse: Abacus.
Tonight’s episode of PBS’ Frontline is “Abacus: Small Enough To Jail,” from documentarian Steve James (Hoop Dreams), providing a behind-the-scenes look at the years-long legal battle between the Chinatown bank and prosecutors who targeted Abacus while leaving Wall Street intact.
Fraud Charges
On May 31, 2012, when Manhattan D.A. Cyrus Vance announced a multitude of charges against the bank and 19 current and former employees, alleging that Abacus had sold “hundreds of millions of dollars worth of fraudulent loans to the Federal National Mortgage Association” (Fannie Mae), he intimated that Abacus had been involved in the same sort of underhanded schemes that bigger lenders used to paint a pretty face on shoddy loans in order to make a quick buck by reselling them before they went toxic.
But as those who followed the story would find out over the three years that followed, while there were unethical employees and questionable loan documents being filed at Abacus, there was no apparent effort to defraud Fannie Mae.
“What Are These Checks?”
Abacus inadvertently pushed itself into the D.A.’s crosshairs in Dec. 2009. A young couple, both immigrants, had come to the bank to close on the purchase of a two-family house in Brooklyn. The Abacus loan officer who’d worked with the couple on the mortgage was not present, but the bank’s director Vera Sung — a daughter of the company’s founder Thomas Sung — was there. At some point, the husband said that he wanted to make sure that $2,500 in checks the couple had written previously would be put toward the closing costs.
This confounded Vera, who’d never heard of these checks and immediately suspected that the employee, a man named Ken Yu, may have been up to something. She and her sister, Abacus president Jill Sung, confronted Yu, asking “What are these checks?” and then called off the close.
They later confirmed that not only had Yu taken payments he shouldn’t have, but the loan application included inaccurate information about the couple’s income.
“Ken Yu stole money and he was running a money-laundering operation on his own, unbeknownst to everybody here,” Jill Sung says in the documentary.
Yu was fired and the bank notified its regulators at the Office of Thrift Supervision (which subsequently merged with the Office of the Comptroller of the Currency) after an internal investigation found that two other loan officers were engaged in wrongdoing.
At the same time, the couple whose mortgage had been shut down at the closing stage were understandably upset. Because things had gotten so far before the process collapsed, the seller was contractually allowed to keep the approximately $70,000 down-payment the couple had put together. Feeling their money had been stolen, they went to the police.
While investigators initially focused on Ken Yu’s alleged fraud, they eventually came to believe that there was a bank-wide problem with false and misleading documents, and that it was so obvious that there was no way bank management could have been unaware.
“Unfortunate, But…It Happened
Which leads us to that May day in 2012, when more than a dozen defendants were cuffed and chained together, and led into the courtroom for their arraignment.
The youngest Sung daughter, Chanterelle, was actually an attorney in Vance’s office at the time of the indictment.
“I had never seen that in my entire time at the D.A.’s office,” she tells Frontline about the scene at the arraignment. “This was like the case of the century.”
Speaking now, Vance acknowledges that this spectacle may have been a bit overboard, but puts the blame on court officers, not his people.
“It was very unfortunate, but… it happened,” shrugs the district attorney.
What Sister?
At trial, the prosecution attempted to paint a picture that the bank and its senior management were aware of and complicit in the mortgage fraud. Many borrowers testified that they had been misled into filing false documents, or that they didn’t know what they were doing was against the rules.
But attorneys for Abacus were frequently able to demonstrate that these same witnesses may have been actively involved in trying to pull one over on the loan underwriters. For example, the one borrower who testified that he didn’t know that he’d been listed as a “manager” on the loan application, even though he’d also filed an employment verification document signed by the co-owner of the restaurant where he worked.
What’s more, he repeatedly denied knowing much about the other co-owner of that business, at least until the defense attorney got him to admit that his sister is actually that co-owner.
Yu, who was supposed to be the star witness for the prosecution, was also caught lying on the stand, saying that he did not ask for or expect a loan applicant to pay him a cash tip if he could get them a loan. In fact, Yu was caught on tape by the D.A.’s office explaining this to a borrower.
He also would “gift” money to loan applicants and sign a falsified gift notice claiming to be a relative of the borrower. However, this practice went unnoticed by the underwriters because he signed his birth name, Qui Bin Yu, instead of his professional name.
The prosecutors argued that Vera Sung had approved one of these loans with a falsified gift notice from Yu, but the defense pointed out that this piece of paper and certain other underwriting documents are not obtained until after Sung’s signed off on the loan, meaning she did not see this form.
Where’s The Victim?
In a sense, there’s really nothing wrong with a bank deciding to lend money irresponsibly. If the borrower defaults, it’s the bank’s problem. Where things get tricky is when the mortgage lender then resells those loans to someone else.
Similarly, it’s one thing to sell someone a good loan that eventually turns rotten because of unforeseen circumstances, and another to sell loans that you already know are going to rot.
Just look at the “Hustle” program cooked up by Countrywide in its waning days. To make as much money as possible, the company effectively stopped underwriting loans. This allowed them to issue mortgages quickly and turn them around for resale, consequences be damned.
But prosecutors faced a problem with trying to equate Abacus’ occasional goofs with the deliberately lax standards at other lenders: The Abacus loans were solid.
Of the 3,000 loans sold by Abacus to Fannie Mae in the five-year period that was the focus to the indictment, a grand total of nine (not 9%, not 90 or 900… nine) were in default — a default rate that was far below the levels found at other banks.
“These loans had not lost any money. They’re performing,” says Jill Sung. “It was clear financially who was benefiting was Fannie Mae from that transaction.”
Good Loans; Bad Paperwork
So why were there all these allegedly dubious documents if the borrowers were reliable?
Some argue that it’s part of the nature of the immigrant experience. Many of the businesses run by recent immigrants in New York City are primarily cash-based; sometimes cash-only. As happens, not all cash businesses file accurate taxes and not all employees who are paid in cash are truly honest with the IRS about their earnings.
So when a waiter claims to only be making $25,000 a year but has enough money to afford the down-payment and a mortgage on a $250,000 apartment, they may feel the need to fudge the paperwork to justify where and how they obtained their pillowcases full of cash.
“Our responsibility was to provide credit to the community, not to be a policeman,” explains Thomas Sung.
After more than 10 days of deliberations, the jury found Abacus and two top employees not guilty on all of the more than 180 counts they faced. Some on the jury say they felt the bank should have been held liable, but that under the letter of the law they could not find Abacus guilty.
“I didn’t feel great about it,” one juror tells Frontline. “But I wouldn’t have felt great if the verdict been guilty.”
Vance and his team still maintain that they were right to prosecute Abacus and that they weren’t picking on the bank just because it served the Chinese immigrant community.
The D.A. contends that accusations of cultural bias in this case are “misplaced,” and that his office would have acted the same if it were a bank that had served the South American or Indian communities in New York City.
What Vance does not address is why he failed to take this action against banks that were so big that their fraud touched the lives of all New Yorkers.
Jaywalking
Neil Barofsky, who previously headed up the mortgage fraud for the U.S. Attorney��s office in NYC, likened Vance’s indictment of Abacus to the NYPD giving someone a ticket for jaywalking; yes, it’s illegal but it’s also a waste of valuable resources.
“Throwing your hands up in the air and suggesting that – well, gee, any time a crime is committed, we put all of our resources in to prove it, is just not true,” explains Barofsky, adding that “regulators and prosecutors have to act with the necessary discretion of when to bring charges and when not to bring charges.”
Vance counters that Barofsky is “entitled to his own opinion.”
“My view is — if I take $5 out of your wallet, I’ve taken your money,” he explains. “Ultimately, if I give that back to you, or if you don’t, at the very end, actually have any loss because the money gets back to you, that’s still, in our view, a larceny.”
Jill Sung doesn’t see the logic there.
“If I sold Fannie Mae a loan for $5, not only did they get their $5 back on time, as what they thought they were going to get it, they also got $3, $4 to $5 back in interest, which makes it $10, so tell me how that is considered larceny,” she asks.
Watch the whole Frontline tonight on PBS or at PBS.org.
by Chris Morran via Consumerist via Blogger http://ift.tt/2eT1mua http://ift.tt/2y2jaeT
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The age of the appacus: In fintech, China shows the way | The Economist CHINESE banks are not far removed from the age of the abacus. In the 1980s they used these ancient counting boards for much of their business. In the 1990s many bank employees had to pass a basic abacus test. Today the occasional click-clack, click-clack can still be heard in villages as tellers slide their abacus beads up and down the rack. But these days the abacus is mainly a symbol, more likely to be used in the branding of China’s online-finance companies than as a calculating tool. At least three internet lenders have paid homage to it in their names: Abacus Loans, Small Abacus and Modern Abacus. The prominence, so recently, of the abacus is testament to how backward Chinese banking was a short time ago. The rise of the online lenders shows how quickly change has come. Latest updates How Hong Kong picks its chief executives THE ECONOMIST EXPLAINS Donald Trump’s proposed budget cuts would have serious implications for travellers GULLIVER Disney has drawn an outline for gay characters PROSPERO See all updates By just about any measure of size, China is the world’s leader in fintech (short for “financial technology”, and referring here to internet-based banking and investment). It is far and away the biggest market for digital payments, accounting for nearly half of the global total. It is dominant in online lending, occupying three-quarters of the global market. A ranking of the world’s most innovative fintech firms gave Chinese companies four of the top five slots last year. The largest Chinese fintech company, Ant Financial, has been valued at about $60bn, on a par with UBS, Switzerland’s biggest bank. How did fintech get so big in China? The short answer is that it was the right thing at the right time in the right place. Even after Chinese banks tucked away their abacuses, they remained remarkably unsophisticated for a high-speed economy. People accumulated wealth but had few good outlets for investing. Entrepreneurs were full of ideas but struggled to get startup loans. Consumers were spending but needed wads of cash to do so. New technology offered a way to vault over these many contradictions. During the past decade China became the country with more internet users than any other—more than 700m. A potential revolution beckoned but plodding state-owned banks were slow to respond. The terrain was open for battalions of hungry companies. Some entrepreneurs had roots in e-commerce, others in online gaming, many were just first-timers. Today, the promise of fintech in China is great. It is shaking up a stodgy banking system and helping build a more efficient one, especially for consumers and small businesses. But limitations are also clear. Banks are fighting back. And regulators, tolerant so far, are wading in. For years China has looked to developed countries for ideas about how to manage its financial system. When it comes to fintech, the rest of the world will be studying China’s experience. The rise of fintech in China is most notable in three areas. The first, obvious in daily life, is mobile payments. China’s middle-class consumers, emerging as the internet took off, have always been inclined to shop online (see chart 1). This made them big, early adopters of digital payments. China also had a late-starter advantage. Developed economies long ago swapped cash for plastic (credit and debit cards). China was, until a decade ago, overwhelmingly cash-based. The shift to digital payments accelerated with the arrival of smartphones, bought by many Chinese who had never owned a personal computer. Today 95% of China’s internet users go online via mobile devices. Alipay, the payments arm of Alibaba, an e-commerce giant, soon became the mobile wallet of choice. But it quickly faced a challenge, when Tencent, a gaming-to-messaging company, launched a payment function in its wildly popular WeChat phone app, tapping its 500m-strong user base. Baidu, China’s main search engine, followed with its own wallet. Smartpurses Competition has sparked a stream of innovations, especially in the way mobile apps can connect online to face-to-face retail transactions. QR codes, the matrix-like bar codes that generally failed to catch on in the West, have become ubiquitous in Chinese restaurants and shops. Users simply open WeChat or Alipay, scan a QR code and make a payment. And phones themselves can serve as payment cards: with another click, users display their own bar codes, which shopkeepers then scan. And it is as easy for people to send money to each other as it is to send a text message—a vast improvement over the bricks of cash that used to change hands. Many of the payment functions within WeChat or Alipay exist elsewhere in the world, but in disaggregated form: Stripe or PayPal for online shops processing payments; Apple Pay or Android Pay for those using their phones as wallets; Facebook Messenger or Venmo for friends transferring money. In China all these different functions have been combined onto single platforms. Adoption is widespread. For about 425m Chinese, or 65% of all mobile users, phones act as wallets, the world’s highest penetration rate, according to China’s ministry of industry and information technology. Mobile payments hit 38trn yuan ($5.5trn) last year, up from next to nothing five years earlier—and more than 50 times the size of the American market. Small is beautiful A second area where China has become the global leader is online lending. In most countries, banks overlook small borrowers. This problem is especially acute in China. State-owned banks dominate the financial system, with a preference for lending to state-owned companies. The absence of a mature system for assessing consumer credit-risk adds to banks’ reluctance to lend to individuals. Grey-market lenders such as pawn shops provide financing but at usurious interest rates. Fintech has started to fill this gap. E-commerce was again the launch-pad: online shopping platforms developed loan services, and are using their customers’ transactions and personal information to create credit scores. (How the government might eventually harvest data for social control is cause for concern, but for now lenders are merely trying to master the basics of credit ratings.) Shoppers on Alibaba and JD.com, China’s two biggest e-commerce portals, can conveniently borrow small amounts, typically less than 10,000 yuan. According to Ant Financial (Alibaba’s financial arm, spun out in 2014), 60% of borrowers in this category had never used a credit card. On their platforms, Ant and JD.com also lend to merchants, many of whom are the kinds of small businesses long ignored by banks. However, e-commerce lending is intrinsically cautious. Its targets are clients already well-known to the big shopping platforms. For the more radical side of China’s online lending, look instead at the explosion of peer-to-peer (P2P) credit. From just 214 P2P lenders in 2011, there were more than 3,000 by 2015 (see chart 2). Initially free from regulatory oversight, P2P soon morphed into China’s financial Wild West, brimming with frauds and dangerous funding models. More than a third of all P2P firms have already shut down. Yet P2P lenders still have a big role to play in China. Despite a string of headline-grabbing collapses, the industry has continued to grow. Outstanding P2P loans increased 28-fold from 30bn yuan at the start of 2014 to 850bn yuan today. The online lenders answer a basic need, like China’s grey-market lenders of old, but in modern garb and, thanks to all the competition, offering credit at lower interest rates. In other countries, P2P firms typically lend to clients online and obtain funding from institutional investors. The most successful lenders in China flip that approach on its head. Because of the lack of consumer credit ratings, they vet borrowers in person. Lufax, China’s biggest P2P firm, operates shops—more than 500 in 200 cities—for loan applicants. And for funding, Chinese P2P firms draw almost entirely on retail investors. More than 4m people invest on P2P platforms, up by a third over the past year. The platforms can then divide loans into small chunks, parcelling them out to investors to disperse risks. This points to the third area of China’s fintech prowess: investment. Until recently, Chinese savers faced two extreme options for managing their money: stash it in bank accounts, where interest rates were artificially low, but it was as safe as the Communist Party; or punt on the stockmarket, about as safe as playing baccarat in a casino in Macau. “In the middle there was nothing,” says Huang Hao, vice-president of Ant Financial. Fintech has opened that middle ground. In the West asset managers increasingly worry that they face a wave of disintermediation as investors migrate online. In China asset managers barely had a chance to serve as intermediaries in the first place; the market skipped into the digital stage. In large part this resulted from a generational divide that is the inverse of the global norm: the best-paid workers in China tend to be younger, the country’s first big generation of white-collar workers. They are much more likely to be willing to trust web-based platforms to manage their money. “In America people love technology, too, when they are 22. They just don’t have any money,” says Gregory Gibb, Lufax’s chief executive. The biggest breakthrough was the launch of an online fund by Alibaba in 2013. This fund, Yu’e Bao (or “leftover treasure”), was promoted as a way for people to earn interest on the cash in their e-commerce accounts. The appeal, though, turned out to be much broader. Invested through a money-market fund, Yu’e Bao offered returns in line with the interbank market, where interest rates float freely (see chart 3). This meant that savers could get rates that were more than three percentage points higher than those banks offered. And risk was minimal, because their cash was still ultimately in the hands of banks. Yu’e Bao attracted 185m customers within 18 months, giving it 600bn yuan of assets under management. As is so often the case in China, new entrants soon appeared. In 2014 Tencent launched Licaitong, an online fund platform linked to WeChat. Within a year, it had 100bn yuan under management. Lufax, meanwhile, outgrew its P2P roots to transform itself into a financial “supermarket”, offering personal loans, asset-backed securities, mutual funds, insurance and more. Robo-advisers (firms that use algorithms and surveys to let users build portfolios) also have China in their sights. Give me your pennies And it is not just about wealthy investors. In the West people generally need deep pockets before they can afford to buy into products such as money-market funds. In China all it takes is a smartphone and an initial buy-in of as little as 1 yuan. WeChat, with 800m active accounts, and Ant, with 400m, can afford to be generous. How to gauge the impact of fintech in China? Measured against the rest of the country’s colossal financial system, the various fintech pieces are puny. Apps and online lenders might have massive user bases, but they are mainly comprised of consumers and small businesses, not the hulking state-owned enterprises and government entities that form the backbone of the banking system. The outstanding balance of P2P credit is roughly 0.8% of total bank loans. Credit provided by the e-commerce firms adds up to even less. Earnings from mobile payments amount to barely 2% of bank revenues. Wei Hou, an analyst with Bernstein Research, reckons that the fintech firms will grab less than a twentieth of banks’ business by 2020. That is hardly to be sneezed at, since it comfortably equates to 1trn yuan in revenues. But it is not the kind of radical disruption that fintech’s more ardent evangelists often foretell. Nevertheless, just looking at the overall size of fintech is insufficient. In the market segments they have set their sights on, fintech firms have made a big mark. Digital payments account for nearly two-thirds of non-cash payments in China, far surpassing debit and credit cards. P2P loans make up about a fifth of all consumer credit. What’s more, fintech firms have provoked a competitive response. Take the customer experience at China’s biggest banks: it has improved markedly over the past few years. Once-cumbersome online-banking portals are much easier to use. Even more important, banks are also changing their business models. Prodded in part by the online investment funds, they have moved away from their plain-vanilla deposit-taking roots. Their focus has shifted to “wealth-management products” (WMPs), deposit-like investments which they sell to their clients, often via mobile apps. Returns are as high as anything on Alipay or Tencent. The banks’ apps are not as slick, but not far off, and they feel far safer, with their reassuringly physical thousands of branches. The outstanding value of WMPs has reached more than 26trn yuan, quadrupling in five years. WMPs have brought new risks into the financial system, in particular concerns over banks’ funding stability. But they have arguably done more to promote interest-rate liberalisation than any regulatory edict. And banks have come to appreciate their own strengths: branch networks; solid reputations; and risk controls. “You can’t say that banks or fintech firms are better positioned. Both need each other,” says Li Hongming, chairman of Huishang Bank, the main lender in Anhui, a big central province. Fintech upstarts have also learned that lesson. Look at Wheat Finance, one of the country’s earliest P2P lenders, established in 2009. Amy Huang, Wheat’s CEO, says her initial goal was to challenge banks on their home turf. But she soon realised that banks have insuperable advantages, with their stable, low-cost funding bases. Instead of battling them, Wheat is becoming their partner: 70% of its revenues come from selling digital services to banks. Regulatory attitudes are also shifting. China’s government initially gave fintech companies a free hand, a striking contrast to its heavy policing of traditional banks. The hunch was that fintech firms were small enough for any problems to be manageable, and might produce useful innovations. This wager paid off: the rise of mobile payments and online lending owe much to light regulation. But the era of benign neglect is over. In 2016, provoked in part by the P2P scandals, China introduced regulations to cover most fintech activities. Most of the rules are aimed at making fintech safer, not at curbing it. Firms can no longer pursue their most ambitious strategies. Individuals, for instance, can borrow no more than 200,000 yuan from any one P2P lender. Some of the regulations, though, also constrain what fintech firms can hope to achieve. The central bank is overseeing the creation of an online-payments clearance platform. It wants transparency: all digital payments will be visible to the central bank. But it could neutralise one of the main advantages of Ant and Tencent, forcing them to share transaction data with banks. It seemed, for a time, that China’s internet titans might go after banks’ crown jewels, when they obtained licences to run online banks. But the government has required that they act in partnership with existing banks for even the most basic functions such as deposits and withdrawals. Yet this is not the end of the road. Ant and Tencent still have hundreds of millions of users between them on apps that offer a wide range of financial services and products. They just need to persuade enough users to view them not simply as mobile wallets but as mobile brokers and lenders. As Lufax and JD.com hone their offerings, they, too, will grow more powerful. Regulations have placed speed bumps along their path. But the path is still there. The Chinese are coming China’s fintech champions are also trying to break into new territory abroad. WeChat’s mobile wallet is usable internationally, mostly in Asia for now. Ant has invested in mobile-finance companies in India, South Korea and Thailand. But replicating their successes in other markets will not be straightforward. Much of their repertoire was devised specifically to address deficiencies in China’s financial system. And anything that touches on core banking abroad will require local incorporation and adherence to local regulations—headwinds against global expansion. China’s bigger impact is likely to be indirect. Its fintech giants have shown what can be done. For emerging markets, the lesson is that with the right technology, it is possible to leapfrog to new forms of banking. For developed markets, China offers a vision of the grand consolidation—apps that combine payments, lending and investment—that the future should hold. And the biggest lesson of all: it is not upstarts versus incumbents but rather a question of how banks absorb the fintech innovations blossoming around them. China, an early adopter of the abacus, is, after a long period of dormancy, once again blazing a trail in finance.
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Property Management Service Global Market Demand, Growth, Opportunities, Analysis of Top Key Player and Forecast to 2025
This report studies the global Property Management Service market, analyzes and researches the Property Management Service development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
Quintessentiallyhome Mapletree JLL Savills Singapore Abacus Property CBRE Singapore Colliers International Rhodo Property & Estate Management Services Pte Ltd ELDA Management Services, Inc Florida Property Management Services LLC Advantage Property Management Services Alpha Property Management Services, LLC Rosen Management Services Premier Property Management Services Orchard Block Management Services Southern Property Management Services Summit Management Property Management Services Preferred Property Management Services Accent Property Management Services Lee & Associates Blue Sky Luxury Hinch Property Management Tower-International Marsh & Parsons Monte Davis Property Management Service
Request a Sample Report @ https://www.wiseguyreports.com/sample-request/3054775-global-property-management-service-market-size-status-and-forecast-2025
Market segment by Regions/Countries, this report covers United States EU Japan China India Southeast Asia
Market segment by Type, the product can be split into Percentage of rent Fixed fee Guaranteed rent Revenue share Others
Market segment by Application, Property Management Service can be split into Housing Agencies Home Owners Enterprises Institutions Others
If you have any special requirements, please let us know and we will offer you the report as you want.
Table of Contents
Global Property Management Service Market Size, Status and Forecast 2025 1 Industry Overview of Property Management Service 1.1 Property Management Service Market Overview 1.1.1 Property Management Service Product Scope 1.1.2 Market Status and Outlook 1.2 Global Property Management Service Market Size and Analysis by Regions (2013-2018) 1.2.1 United States 1.2.2 EU 1.2.3 Japan 1.2.4 China 1.2.5 India 1.2.6 Southeast Asia 1.3 Property Management Service Market by Type 1.3.1 Percentage of rent 1.3.2 Fixed fee 1.3.3 Guaranteed rent 1.3.4 Revenue share 1.3.5 Others 1.4 Property Management Service Market by End Users/Application 1.4.1 Housing Agencies 1.4.2 Home Owners 1.4.3 Enterprises 1.4.4 Institutions 1.4.5 Others
2 Global Property Management Service Competition Analysis by Players 2.1 Property Management Service Market Size (Value) by Players (2013-2018) 2.2 Competitive Status and Trend 2.2.1 Market Concentration Rate 2.2.2 Product/Service Differences 2.2.3 New Entrants 2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles 3.1 Quintessentiallyhome 3.1.1 Company Profile 3.1.2 Main Business/Business Overview 3.1.3 Products, Services and Solutions 3.1.4 Property Management Service Revenue (Million USD) (2013-2018) 3.1.5 Recent Developments 3.2 Mapletree 3.2.1 Company Profile 3.2.2 Main Business/Business Overview 3.2.3 Products, Services and Solutions 3.2.4 Property Management Service Revenue (Million USD) (2013-2018) 3.2.5 Recent Developments 3.3 JLL 3.3.1 Company Profile 3.3.2 Main Business/Business Overview 3.3.3 Products, Services and Solutions 3.3.4 Property Management Service Revenue (Million USD) (2013-2018) 3.3.5 Recent Developments 3.4 Savills Singapore 3.4.1 Company Profile 3.4.2 Main Business/Business Overview 3.4.3 Products, Services and Solutions 3.4.4 Property Management Service Revenue (Million USD) (2013-2018) 3.4.5 Recent Developments 3.5 Abacus Property 3.5.1 Company Profile 3.5.2 Main Business/Business Overview 3.5.3 Products, Services and Solutions 3.5.4 Property Management Service Revenue (Million USD) (2013-2018) 3.5.5 Recent Developments 3.6 CBRE Singapore 3.6.1 Company Profile 3.6.2 Main Business/Business Overview 3.6.3 Products, Services and Solutions 3.6.4 Property Management Service Revenue (Million USD) (2013-2018) 3.6.5 Recent Developments 3.7 Colliers International 3.7.1 Company Profile 3.7.2 Main Business/Business Overview 3.7.3 Products, Services and Solutions 3.7.4 Property Management Service Revenue (Million USD) (2013-2018) 3.7.5 Recent Developments 3.8 Rhodo Property & Estate Management Services Pte Ltd 3.8.1 Company Profile 3.8.2 Main Business/Business Overview 3.8.3 Products, Services and Solutions 3.8.4 Property Management Service Revenue (Million USD) (2013-2018) 3.8.5 Recent Developments 3.9 ELDA Management Services, Inc 3.9.1 Company Profile 3.9.2 Main Business/Business Overview 3.9.3 Products, Services and Solutions 3.9.4 Property Management Service Revenue (Million USD) (2013-2018) 3.9.5 Recent Developments 3.10 Florida Property Management Services LLC 3.10.1 Company Profile 3.10.2 Main Business/Business Overview 3.10.3 Products, Services and Solutions 3.10.4 Property Management Service Revenue (Million USD) (2013-2018) 3.10.5 Recent Developments 3.11 Advantage Property Management Services 3.12 Alpha Property Management Services, LLC 3.13 Rosen Management Services 3.14 Premier Property Management Services 3.15 Orchard Block Management Services 3.16 Southern Property Management Services 3.17 Summit Management Property Management Services 3.18 Preferred Property Management Services 3.19 Accent Property Management Services 3.20 Lee & Associates 3.21 Blue Sky Luxury 3.22 Hinch Property Management 3.23 Tower-International 3.24 Marsh & Parsons 3.25 Monte Davis Property Management Service
4 Global Property Management Service Market Size by Type and Application (2013-2018) 4.1 Global Property Management Service Market Size by Type (2013-2018) 4.2 Global Property Management Service Market Size by Application (2013-2018) 4.3 Potential Application of Property Management Service in Future 4.4 Top Consumer/End Users of Property Management Service
5 United States Property Management Service Development Status and Outlook 5.1 United States Property Management Service Market Size (2013-2018) 5.2 United States Property Management Service Market Size and Market Share by Players (2013-2018) 5.3 United States Property Management Service Market Size by Application (2013-2018)
……Continued
Access Complete Report @ https://www.wiseguyreports.com/reports/3054775-global-property-management-service-market-size-status-and-forecast-2025
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Norah Trent
Partner Relations & Marketing Manager
Ph: +1 (339) 368 6938 (US)
Ph: +44 208 133 9349 (UK)
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Property Management Service Market 2018 Industry Growth, Share, Trends, Demand, Analysis and Forecast to 2025
This report studies the global Property Management Service market, analyzes and researches the Property Management Service development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
Quintessentiallyhome Mapletree JLL Savills Singapore Abacus Property CBRE Singapore Colliers International Rhodo Property & Estate Management Services Pte Ltd ELDA Management Services, Inc Florida Property Management Services LLC Advantage Property Management Services Alpha Property Management Services, LLC Rosen Management Services Premier Property Management Services Orchard Block Management Services Southern Property Management Services Summit Management Property Management Services Preferred Property Management Services Accent Property Management Services Lee & Associates Blue Sky Luxury Hinch Property Management Tower-International Marsh & Parsons Monte Davis Property Management Service
Request a Sample Report @ https://www.wiseguyreports.com/sample-request/3054775-global-property-management-service-market-size-status-and-forecast-2025
Market segment by Regions/Countries, this report covers United States EU Japan China India Southeast Asia
Market segment by Type, the product can be split into Percentage of rent Fixed fee Guaranteed rent Revenue share Others
Market segment by Application, Property Management Service can be split into Housing Agencies Home Owners Enterprises Institutions Others
If you have any special requirements, please let us know and we will offer you the report as you want.
Table of Contents
Global Property Management Service Market Size, Status and Forecast 2025 1 Industry Overview of Property Management Service 1.1 Property Management Service Market Overview 1.1.1 Property Management Service Product Scope 1.1.2 Market Status and Outlook 1.2 Global Property Management Service Market Size and Analysis by Regions (2013-2018) 1.2.1 United States 1.2.2 EU 1.2.3 Japan 1.2.4 China 1.2.5 India 1.2.6 Southeast Asia 1.3 Property Management Service Market by Type 1.3.1 Percentage of rent 1.3.2 Fixed fee 1.3.3 Guaranteed rent 1.3.4 Revenue share 1.3.5 Others 1.4 Property Management Service Market by End Users/Application 1.4.1 Housing Agencies 1.4.2 Home Owners 1.4.3 Enterprises 1.4.4 Institutions 1.4.5 Others
2 Global Property Management Service Competition Analysis by Players 2.1 Property Management Service Market Size (Value) by Players (2013-2018) 2.2 Competitive Status and Trend 2.2.1 Market Concentration Rate 2.2.2 Product/Service Differences 2.2.3 New Entrants 2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles 3.1 Quintessentiallyhome 3.1.1 Company Profile 3.1.2 Main Business/Business Overview 3.1.3 Products, Services and Solutions 3.1.4 Property Management Service Revenue (Million USD) (2013-2018) 3.1.5 Recent Developments 3.2 Mapletree 3.2.1 Company Profile 3.2.2 Main Business/Business Overview 3.2.3 Products, Services and Solutions 3.2.4 Property Management Service Revenue (Million USD) (2013-2018) 3.2.5 Recent Developments 3.3 JLL 3.3.1 Company Profile 3.3.2 Main Business/Business Overview 3.3.3 Products, Services and Solutions 3.3.4 Property Management Service Revenue (Million USD) (2013-2018) 3.3.5 Recent Developments 3.4 Savills Singapore 3.4.1 Company Profile 3.4.2 Main Business/Business Overview 3.4.3 Products, Services and Solutions 3.4.4 Property Management Service Revenue (Million USD) (2013-2018) 3.4.5 Recent Developments 3.5 Abacus Property 3.5.1 Company Profile 3.5.2 Main Business/Business Overview 3.5.3 Products, Services and Solutions 3.5.4 Property Management Service Revenue (Million USD) (2013-2018) 3.5.5 Recent Developments 3.6 CBRE Singapore 3.6.1 Company Profile 3.6.2 Main Business/Business Overview 3.6.3 Products, Services and Solutions 3.6.4 Property Management Service Revenue (Million USD) (2013-2018) 3.6.5 Recent Developments 3.7 Colliers International 3.7.1 Company Profile 3.7.2 Main Business/Business Overview 3.7.3 Products, Services and Solutions 3.7.4 Property Management Service Revenue (Million USD) (2013-2018) 3.7.5 Recent Developments 3.8 Rhodo Property & Estate Management Services Pte Ltd 3.8.1 Company Profile 3.8.2 Main Business/Business Overview 3.8.3 Products, Services and Solutions 3.8.4 Property Management Service Revenue (Million USD) (2013-2018) 3.8.5 Recent Developments 3.9 ELDA Management Services, Inc 3.9.1 Company Profile 3.9.2 Main Business/Business Overview 3.9.3 Products, Services and Solutions 3.9.4 Property Management Service Revenue (Million USD) (2013-2018) 3.9.5 Recent Developments 3.10 Florida Property Management Services LLC 3.10.1 Company Profile 3.10.2 Main Business/Business Overview 3.10.3 Products, Services and Solutions 3.10.4 Property Management Service Revenue (Million USD) (2013-2018) 3.10.5 Recent Developments 3.11 Advantage Property Management Services 3.12 Alpha Property Management Services, LLC 3.13 Rosen Management Services 3.14 Premier Property Management Services 3.15 Orchard Block Management Services 3.16 Southern Property Management Services 3.17 Summit Management Property Management Services 3.18 Preferred Property Management Services 3.19 Accent Property Management Services 3.20 Lee & Associates 3.21 Blue Sky Luxury 3.22 Hinch Property Management 3.23 Tower-International 3.24 Marsh & Parsons 3.25 Monte Davis Property Management Service
4 Global Property Management Service Market Size by Type and Application (2013-2018) 4.1 Global Property Management Service Market Size by Type (2013-2018) 4.2 Global Property Management Service Market Size by Application (2013-2018) 4.3 Potential Application of Property Management Service in Future 4.4 Top Consumer/End Users of Property Management Service
5 United States Property Management Service Development Status and Outlook 5.1 United States Property Management Service Market Size (2013-2018) 5.2 United States Property Management Service Market Size and Market Share by Players (2013-2018) 5.3 United States Property Management Service Market Size by Application (2013-2018)
……Continued
Access Complete Report @ https://www.wiseguyreports.com/reports/3054775-global-property-management-service-market-size-status-and-forecast-2025
Contact Us:
Norah Trent
Partner Relations & Marketing Manager
Ph: +1-646-845-9349 (US)
Ph: +44 208 133 9349 (UK)
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If you’ve walked Canal St. in lower Manhattan’s Chinatown, you’ve probably passed by the modest headquarters of Abacus Federal Savings, a family run community bank that has served New York City’s Chinese immigrant population for more than three decades. It’s more than a mile away — and a world apart — from the more famous banks on Wall Street whose reckless behaviors during the housing bubble led to trillions of dollars in economic loss, the failure of financial institutions nationwide, an unprecedented federal bailout of the banking and auto industries, and continued fraud by big banks in a rush to foreclose on large numbers of homes as quickly as possible. You might think the Manhattan district attorney had his choice of banks to prosecute for these obvious and far-reaching crimes, but in the end only one bank has been indicted on felony fraud charges related to the 2008 collapse: Abacus. Tonight’s episode of PBS’ Frontline is “Abacus: Small Enough To Jail,” from documentarian Steve James (Hoop Dreams), providing a behind-the-scenes look at the years-long legal battle between the Chinatown bank and prosecutors who targeted Abacus while leaving Wall Street intact. Fraud Charges On May 31, 2012, when Manhattan D.A. Cyrus Vance announced a multitude of charges against the bank and 19 current and former employees, alleging that Abacus had sold “hundreds of millions of dollars worth of fraudulent loans to the Federal National Mortgage Association” (Fannie Mae), he intimated that Abacus had been involved in the same sort of underhanded schemes that bigger lenders used to paint a pretty face on shoddy loans in order to make a quick buck by reselling them before they went toxic. But as those who followed the story would find out over the three years that followed, while there were unethical employees and questionable loan documents being filed at Abacus, there was no apparent effort to defraud Fannie Mae. “What Are These Checks?” Abacus inadvertently pushed itself into the D.A.’s crosshairs in Dec. 2009. A young couple, both immigrants, had come to the bank to close on the purchase of a two-family house in Brooklyn. The Abacus loan officer who’d worked with the couple on the mortgage was not present, but the bank’s director Vera Sung — a daughter of the company’s founder Thomas Sung — was there. At some point, the husband said that he wanted to make sure that $2,500 in checks the couple had written previously would be put toward the closing costs. This confounded Vera, who’d never heard of these checks and immediately suspected that the employee, a man named Ken Yu, may have been up to something. She and her sister, Abacus president Jill Sung, confronted Yu, asking “What are these checks?” and then called off the close. They later confirmed that not only had Yu taken payments he shouldn’t have, but the loan application included inaccurate information about the couple’s income. “Ken Yu stole money and he was running a money-laundering operation on his own, unbeknownst to everybody here,” Jill Sung says in the documentary. Yu was fired and the bank notified its regulators at the Office of Thrift Supervision (which subsequently merged with the Office of the Comptroller of the Currency) after an internal investigation found that two other loan officers were engaged in wrongdoing. At the same time, the couple whose mortgage had been shut down at the closing stage were understandably upset. Because things had gotten so far before the process collapsed, the seller was contractually allowed to keep the approximately $70,000 down-payment the couple had put together. Feeling their money had been stolen, they went to the police. While investigators initially focused on Ken Yu’s alleged fraud, they eventually came to believe that there was a bank-wide problem with false and misleading documents, and that it was so obvious that there was no way bank management could have been unaware. “Unfortunate, But…It Happened Which leads us to that May day in 2012, when more than a dozen defendants were cuffed and chained together, and led into the courtroom for their arraignment. The youngest Sung daughter, Chanterelle, was actually an attorney in Vance’s office at the time of the indictment. “I had never seen that in my entire time at the D.A.’s office,” she tells Frontline about the scene at the arraignment. “This was like the case of the century.” Speaking now, Vance acknowledges that this spectacle may have been a bit overboard, but puts the blame on court officers, not his people. “It was very unfortunate, but… it happened,” shrugs the district attorney. What Sister? At trial, the prosecution attempted to paint a picture that the bank and its senior management were aware of and complicit in the mortgage fraud. Many borrowers testified that they had been misled into filing false documents, or that they didn’t know what they were doing was against the rules. But attorneys for Abacus were frequently able to demonstrate that these same witnesses may have been actively involved in trying to pull one over on the loan underwriters. For example, the one borrower who testified that he didn’t know that he’d been listed as a “manager” on the loan application, even though he’d also filed an employment verification document signed by the co-owner of the restaurant where he worked. What’s more, he repeatedly denied knowing much about the other co-owner of that business, at least until the defense attorney got him to admit that his sister is actually that co-owner. Yu, who was supposed to be the star witness for the prosecution, was also caught lying on the stand, saying that he did not ask for or expect a loan applicant to pay him a cash tip if he could get them a loan. In fact, Yu was caught on tape by the D.A.’s office explaining this to a borrower. He also would “gift” money to loan applicants and sign a falsified gift notice claiming to be a relative of the borrower. However, this practice went unnoticed by the underwriters because he signed his birth name, Qui Bin Yu, instead of his professional name. The prosecutors argued that Vera Sung had approved one of these loans with a falsified gift notice from Yu, but the defense pointed out that this piece of paper and certain other underwriting documents are not obtained until after Sung’s signed off on the loan, meaning she did not see this form. Where’s The Victim? In a sense, there’s really nothing wrong with a bank deciding to lend money irresponsibly. If the borrower defaults, it’s the bank’s problem. Where things get tricky is when the mortgage lender then resells those loans to someone else. Similarly, it’s one thing to sell someone a good loan that eventually turns rotten because of unforeseen circumstances, and another to sell loans that you already know are going to rot. Just look at the “Hustle” program cooked up by Countrywide in its waning days. To make as much money as possible, the company effectively stopped underwriting loans. This allowed them to issue mortgages quickly and turn them around for resale, consequences be damned. But prosecutors faced a problem with trying to equate Abacus’ occasional goofs with the deliberately lax standards at other lenders: The Abacus loans were solid. Of the 3,000 loans sold by Abacus to Fannie Mae in the five-year period that was the focus to the indictment, a grand total of nine (not 9%, not 90 or 900… nine) were in default — a default rate that was far below the levels found at other banks. “These loans had not lost any money. They’re performing,” says Jill Sung. “It was clear financially who was benefiting was Fannie Mae from that transaction.” Good Loans; Bad Paperwork So why were there all these allegedly dubious documents if the borrowers were reliable? Some argue that it’s part of the nature of the immigrant experience. Many of the businesses run by recent immigrants in New York City are primarily cash-based; sometimes cash-only. As happens, not all cash businesses file accurate taxes and not all employees who are paid in cash are truly honest with the IRS about their earnings. So when a waiter claims to only be making $25,000 a year but has enough money to afford the down-payment and a mortgage on a $250,000 apartment, they may feel the need to fudge the paperwork to justify where and how they obtained their pillowcases full of cash. “Our responsibility was to provide credit to the community, not to be a policeman,” explains Thomas Sung. After more than 10 days of deliberations, the jury found Abacus and two top employees not guilty on all of the more than 180 counts they faced. Some on the jury say they felt the bank should have been held liable, but that under the letter of the law they could not find Abacus guilty. “I didn’t feel great about it,” one juror tells Frontline. “But I wouldn’t have felt great if the verdict been guilty.” Vance and his team still maintain that they were right to prosecute Abacus and that they weren’t picking on the bank just because it served the Chinese immigrant community. The D.A. contends that accusations of cultural bias in this case are “misplaced,” and that his office would have acted the same if it were a bank that had served the South American or Indian communities in New York City. What Vance does not address is why he failed to take this action against banks that were so big that their fraud touched the lives of all New Yorkers. Jaywalking Neil Barofsky, who previously headed up the mortgage fraud for the U.S. Attorney’s office in NYC, likened Vance’s indictment of Abacus to the NYPD giving someone a ticket for jaywalking; yes, it’s illegal but it’s also a waste of valuable resources. “Throwing your hands up in the air and suggesting that – well, gee, any time a crime is committed, we put all of our resources in to prove it, is just not true,” explains Barofsky, adding that “regulators and prosecutors have to act with the necessary discretion of when to bring charges and when not to bring charges.” Vance counters that Barofsky is “entitled to his own opinion.” “My view is — if I take $5 out of your wallet, I’ve taken your money,” he explains. “Ultimately, if I give that back to you, or if you don’t, at the very end, actually have any loss because the money gets back to you, that’s still, in our view, a larceny.” Jill Sung doesn’t see the logic there. “If I sold Fannie Mae a loan for $5, not only did they get their $5 back on time, as what they thought they were going to get it, they also got $3, $4 to $5 back in interest, which makes it $10, so tell me how that is considered larceny,” she asks. Watch the whole Frontline tonight on PBS or at PBS.org. by Chris Morran via Consumerist
http://www.bollywoodnews4free.tk/2017/09/only-one-bank-was-indicted-for-mortgage.html
#Only One Bank Was Indicted For Mortgage Fraud Tied To The 2008 Collapse — And It Was Innocent <p>If
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