15 more touts arrested

first_imgAs the Guyana Police Force’s Traffic Department continues with its campaign to clean up the minibus parks in Georgetown, ranks on Thursday rounded up and arrested another 15 individuals for touting.The exercise was led by Sergeant 18039 Michael Ramdas and other ranks of Traffic Headquarters, and was conducted at the Routes 31, 32, 40, 41, 42 and 47 bus parks.The Force has reiterated that “the campaign, which is aimed at bringing back some semblance of order at the various bus parks around Georgetown, and more so for the safety and comfort of commuters, is ongoing, and will continue until the desired results are achieved”.Only recently, touts were complaining of the campaign and begging authorities not to take bread out of their mouths, while promising to act in a more professional manner. Some of them told <> that it is unfair for Guyanese who are attempting to make an honest living in a country with a high percentage of unemployment to be prosecuted for so doing.One tout who refers to himself as “King Tout” explained that he was recently arrested three times and made to pay hefty bail sums, which he stated is unfair since he is no criminal.“Touting does give me my daily bread…three times them lock me up in one week, you know, and it’s real heart-rending right now. When you go to court, the fine you does gotta pay is $15,000 to $20,000,” the tout angrily revealed.According to the man, if Government could provide employment for him, he would happily leave the touting profession, which he only turned to because he found no other means of employment.While some persons have made representation for the touts, many others have complained about the disorderly manner in which they behave at the minibus parks.Traffic Chief Linden Isles has said the exercise is aimed at ridding the parks of all touts, and as such the public’s cooperation is critical. He also noted that the campaign will be ongoing until the desired results are achieved.So far, over 100 touts have been arrested and charged.last_img read more

Despite Declines Originator Rankings Little Changed in Q1

first_img Share Bank of America JPMorgan Chase Nationstar Ocwen Quicken US Bank Wells Fargo 2014-05-19 Tory Barringer in Daily Dose, Featured, Headlines, News, Origination, Servicing The decline in mortgage production in the year’s opening months failed to produce any names to the list of top lenders for the quarter, but it did shake up the rankings a bit.According to data collected and released Monday by Mortgage Daily, first-quarter origination dollar volume came to an estimated $252 billion, a 25 percent drop from the prior quarter and the third straight quarterly decline.As already seen in their earnings reports for Q1, many of the nation’s top lenders have taken losses on the mortgage banking side as a result of the downward trend, which itself could be blamed on falling demand and restrictive loan standards.Staying firmly in the No. 1 spot for the quarter was Wells Fargo, which held on to 14.3 percent of the market with $36 billion in origination volumes, down from $50 billion in Q4 2013.JPMorgan Chase followed, staying in the second-rank spot with $18 billion.While the rest of the pack remained the same from the previous period, their order has been shuffled: Tying for third place were Quicken Loans and Bank of America, each producing about $11 billion in loans, while U.S. Bank slipped to fifth place with $9 billion.Missing from the latest quarterly list were a number of smaller firms who refused to report data, “all which reported … when times were good,” according to Mortgage Daily.Just like in Q4, Stonegate Mortgage was the only company to report a quarterly improvement in production, reflecting its acquisitions of Crossline Capital, Medallion Mortgage, and Nationstar’s wholesale business.On the servicing side, Wells Fargo again beat out all others, boasting a portfolio estimated at $1.81 trillion.Chase and BofA followed with portfolios of $970 billion and $780 billion, respectively.Ranking fourth and fifth were non-bank servicers Ocwen ($392 billion) and Nationstar ($384 billion), who have each seen their growth stymied by heightened scrutiny from New York’s superintendent of financial services, Benjamin Lawsky. Both companies have pledged to work with Lawsky’s office to dispel allegations of mistreating customers and ease concerns of their quick growth over the last year.Going by Fannie Mae’s estimate of $9.863 trillion in home loans outstanding, Mortgage Daily estimates market share at the top 10 biggest servicers slipped again to 56.1 percent, a drop of 1.3 percentage points.center_img May 19, 2014 479 Views Despite Declines, Originator Rankings Little Changed in Q1last_img read more