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LOS ANGELES — There were fancy statistics and flashy plays for the Kings but amid that style was noticeably less in the way of substance as they lost to the Seattle Kraken, 2-1, on Wednesday night at Crypto.com Arena.
Blake Lizotte scored the solitary goal for the Kings, whose offensive struggles at home continued. They lead the league in goals per game on the road but ranked 18th in home scoring entering Wednesday’s contest in which they mustered two fewer markers than their average. Cam Talbot was solid with 28 saves in defeat.
Brandon Tanev and Jordan Eberle each scored for Seattle and Joey Daccord dazzled in net with 42 saves.
“Just the second opportunities [were missing], they did a good job clearing the netfront, the goalie saw more pucks than what we would want and sometimes you just don’t get the bounces,” Lizotte said. “We could have worked a little harder to get into areas to get the bounces. You make your own luck sometimes, the harder you work, the luckier you get.”
Kings coach Todd McLellan echoed some of that sentiment and said the fact that the Kings were coming off a 4-1 win in San Jose 24 hours earlier was not impactful.
“We didn’t really want to get dirty, or get down and dig in around the net. If it was going to be easy, we were going to take it, but they’re big and strong there, so they didn’t give up much,” McLellan said.
In the third period, the teams played to a one-a-side stalemate, despite a very late power-play for the Kings that they played six-on-four for its entirety, with Talbot pulled. He remained on the bench for the finale, but the Kings could not come up with an equalizer.
“If I was going to sum up tonight and we were going to talk about offense, I’d go right to the power play, flat out to the power play,” McLellan said. “We had seven minutes and we got two shots on goal … we moved like turtles on it, and we were thinking rather than playing.”
As 12 minutes showed on the clock, a Kraken blunder became an opportunistic Lizotte goal as he was the lone forechecker creating light pressure. Daccord rimmed the puck around to a corner where there stood two of his teammates and no Kings, but when the puck clanked off Justin Schultz’s stick and squirted toward the net, which was half open after Daccord ventured away to play the puck, Lizotte capitalized with a snap shot for his fifth goal of 2023-24. The tally was the 100th career point for the undersized, undrafted and undaunted Lizotte.
“The group was happy for two things, one that we got ourselves back into that game, but, two, I’m not sure that we all realized the Lizzo was at a hundred when it was announced,” McLellan said. “[He’s a] pretty motivating young man for a lot of individuals in our locker room, and also in the hockey world.”
With 6:27 elapsed in the final frame and a double-digit lead in shots on goal still persistent, the Kings surrendered a second goal, which stood as the game-winner. Mikey Anderson’s ill-fated jamming of the puck into the slot was predictable enough that Eberle bolted out of the zone even before his team controlled the puck. Matty Beniers threaded a silky outlet pass to Eberle, who finished the breakaway with aplomb.
“I saw a blocked shot, as soon as you see that, a lot of times you can start cheating. I don’t generally do that but it was nice to get in behind [the defense] and find one,” Eberle said.
Before the five-minute mark of the second period, the Kings had a sterling opportunity to set up leading goal-scorer Trevor Moore with a one-timer from the right circle, but he was unable to control the pass and no shot attempt was produced.
The Kraken then forced a defensive-zone draw, which Pierre-Luc Dubois won, only to see Jordan Spence unable to locate the puck in his skates. Tanev pounced, taking one whack to force a Talbot save and then a second for his third goal of the season and the game’s first lead. Tanev had last scored on Nov. 13, and he extolled the simplicity of Seattle’s approach afterward.
Later in the frame, former Junior King Kailer Yamamoto nearly scored on a similar play when he knifed a loose puck through Talbot that he was narrowly able to turn and cover before it crossed the goal line.
The Kings had turned in a domineering first period in terms of possession, attempting 29 shots and hitting the net 20 times. At one point, they carried a 17-2 advantage in strikes on goal, but they failed to convert any of them, much as Quinton Byfield’s nifty between-the-legs passes went for naught.
“We weathered the storm early, they were coming at us hard and then we found a way to start creating for ourselves,” Eberle said, who felt Seattle was affording the Kings “too much respect” and playing a step slow early.
The Kings will be back in action Saturday night when they host another division rival, the Calgary Flames, before the NHL takes its three-day Christmas break.
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SAN FRANCISCO, Calif. /California Newswire/ — The San Francisco Chapter of Les Dames d’Escoffier International (LDEI-SF) is thrilled to announce the grant winners of their inaugural 2023 Female Entrepreneurship Grant and Mentorship program: Stephanie de la Cruz of De La Creamery in Oakland and Wendy Lieu of Socola Chocolatier in San Francisco.
The mission of the LDEI-SF Female Entrepreneur Grant and Mentorship program is to support SF Bay Area female-owned businesses in the food, culinary and hospitality industry with cash awards of $5,000 to help them expand and enhance their business. This is an exciting opportunity to help advance the grant winner’s businesses through financial support and ongoing mentorship.
The grant recipients will receive benefit from a full year of mentoring meetings amongst fellow accomplished business owners, entrepreneurs, and members of the LDEI-SF Business Grant Committee: Mary Gassen, Emily Luchetti, Maryam Ahmed, Linda Carucci, Sue Conley, Duskie Estes, Janet Griggs, Marsha McBride, and Dominica Rice-Cisneros. In addition, they will receive access to relationship-building and networking as part of LDEI-SF’s extensive and thriving membership.
“The LDEI Grant committee was honored to receive more than 20 applications in our inaugural year from very qualified woman-owned food businesses in the Bay Area,” said co-chair of LDEI-SF’s Business Grant Committee Mary Gassen, who created the concept. “The financial award is important to both businesses, but we feel that the year-long mentorship these businesses will receive from our chapter will be invaluable.”
The Grant Recipients
Stephanie De La Cruz worked in events and hospitality for many years, but upon losing her job during the COVID-19 pandemic, started making ice cream. Stephanie decided to take on the challenge of making horchata ice cream; a prominent flavor in many taquerias and Mexican homes. Once the recipe was mastered, she started developing a line of ice cream flavors dedicated to her Mexican heritage and culture. Shortly after, De La Creamery was born. In 2023, she took out her first business loan, and looks forward to eventually expanding her business into a brick-and-mortar location.
“I am looking forward to learning and being connected to the talented creators of the Bay Area, many of which are household names for our community,” stated De La Cruz. “We will be able to pave the steps to following in their footsteps.”
Wendy Lieu has been making handmade chocolates and confections that reflect the diverse flavors of her Vietnamese heritage for over 22 years. A self-taught Chocolatier, Wendy also attended classes at the Culinary Institute of America and evening classes at Pastry School at Tante Marie Cooking School in San Francisco, and took the plunge into full business ownership through a Business Planning Course at Renaissance Entrepreneurship Center. She also holds a degree in Managerial Economics from UC Davis.
Timing of the award is particularly advantageous for Lieu, who will celebrate the store’s 10-year anniversary next February. “I am so excited to be able to refresh the store with new signage and updates to make it an even more inviting space for our customers. I also look forward to the mentorship to grow my business.”
This year’s awards were made possible due to the generous support of Mijenta Tequila and the fundraising efforts of the San Francisco chapter of LDEI-SF, as well as the commitment of mentoring time and talent of the chapter’s Dames. A gathering to celebrate the award winners will be held in the Bay Area in early 2024.
About Les Dames d’Escoffier International
LDEI is an international organization of women leaders who create a supportive culture in their communities to achieve excellence in the food, beverage and hospitality fields. To do this, 2,500 members in 43 chapters worldwide provide leadership, educational opportunities and philanthropy within their communities.
For more information, visit https://ldei.org/ and follow us on Facebook, Instagram @lesdamesintl, LinkedIn and Twitter @lesdamesintl. More information on The San Francisco chapter of LDEI, which will celebrate 35 years in 2024, can be accessed at lesdamessf.org. Follow our chapter activities on Instagram @lesdamessf.
Learn More: https://lesdamessf.org/
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Michael Huntley has selected a handful of Orange County football players to receive special honors for what they did in last week’s Week 1 games.
Some players will get helmet stickers, a few will be named “Stars of the Week” and two will be selected to wear the OCVarsity MVP swag chain.
Given for an outstanding game or for an outstanding play last week.
Logan Hirou, Santa Margarita: The sophomore had two interceptions, and returned one 75 yards for a touchdown in a loss to Centennial of Corona.
Kamran Jahromi, Portola: The senior caught the go-ahead touchdown in double overtime against University and blocked University’s potential game-tying extra-point attempt.
Jake Javorsky, San Juan Hills: The senior linebacker had 11 tackles, six for a loss, two sacks and a forced fumble in a 31-14 win over California High of San Ramon.
Oswaldo Lozano, Ocean View: Lozano caught five passes for 234 yards with a pair of long touchdowns in Ocean View’s win over Anaheim.
Jaden Moore, Buena Park: The transfer from Orange had two rushing touchdowns, a receiving touchdown, a touchdown pass and a kick return touchdown in a 70-0 rout of Savanna.
Jonathan Rodriguez, Century: Rodriguez ran for 177 yards on 11 carries with two touchdowns in Century’s win over Saddleback, the first win for the program since the pandemic-shortened 2021 spring season.
Bryce Whitley, La Habra: Whitley caught five passes for 142 yards with three touchdowns in La Habra’s 40-16 win over El Dorado.
Given to players who were so good they deserve to be called “Stars of the Week.”
Eimesse Essis, Tustin: Essis ran for 238 yards on 18 carries with two touchdowns in Tustin’s 36-35 win over rival Foothill.
Aaron Forsgren, Esperanza: The senior ran for 264 yards on 24 carries with four touchdowns in Esperanza’s 25-0 win over Walnut.
Ryan McKevitt, Laguna Hills: McKevitt ran for 261 yards on 24 carries with three touchdowns for Laguna Hills in its 23-12 win against Santa Ana.
They go to the best of the best from last week’s games.
Ryan Luce, Trabuco Hills: The junior receiver had 212 yards on 11 receptions with three touchdowns in Trabuco Hills’ season-opening win against Huntington Beach.
Jared Schnoor, Edison: Schnoor had two interceptions and returned a fumble for a touchdown for Edison in its 17-0 win over Leuzinger of Lawndale.
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The California Supreme Court has refused to hear an appeal from Disney as to whether an Anaheim wage law applies to its lowest-paid theme park workers —setting the stage for the Disneyland resort to boost wages for many of its workers.
Over the summer, the state’s 4th District Court of Appeal ordered up raises and back pay for “cast members,” as Disney calls its employees, in a class-action lawsuit filed on their behalf. The state Supreme Court’s decision to allow the appeal court’s order to stand represents a serious legal blow to the media giant.
“Disney’s at the end of the road in terms of appeals,” said Sarah Grossman-Swenson, an attorney representing Disney workers. “The appellate decision is clear that Disney is required to comply with the law. The only issue left is the amount of damages.”
The dispute between Disneyland workers and the park began in 2018 when voters passed a law prescribing a $15 minimum wage for companies in Anaheim’s resort area who enjoyed “tax rebate” agreements with the city. The measure approved by voters, known as Measure L, had been placed on the ballot thanks to petition drive, led by a coalition of Disney unions.
In the lead up to the election, Disney asked the Anaheim City Council to shred a 45-year gate tax shield and a $267-million bed-tax break for a luxury hotel project that has since been abandoned.
With those agreements canceled, Anaheim’s city attorney opined that the law wouldn’t apply to Disney.
But a class-action lawsuit representing 25,000 theme park workers filed against Disney in Dec. 2019 begged to differ.
An Orange County Superior Court judge originally sided with Disney before a three-judge panel overturned the ruling this summer, citing a provision in a 1996 Disney expansion deal passed by Anaheim in which the city agreed to repay the company if it had to cover bond payments.
Disney filed an appeal with the state’s Supreme Court in August in which it claimed the appellate court redefined what a tax rebate is in a move that would “chill” public-private partnerships such as the ’96 expansion deal that brought Disney’s California Adventure, the Downtown Disney District and Disney’s Grand Californian Hotel into existence, going forward.
It appears the legal fight ends with this week’s decision.
“We are aware of the court’s decision and will be complying with the requirements of Measure L,” said Jessica Good, a Disneyland Resort spokesperson.
Anaheim spokesman Mike Lyster said the city “will continue to monitor how the court’s ruling is implemented.”
How many workers will be affected by the law’s implementation and the sum of back pay owed are unknown at this time.
The pay scale under the law is set to rise to slightly less than $20 an hour next year after being adjusted for inflation.
Grossman-Swenson called the raises and back pay owed a “big deal” for Disney workers.
“We know that thousands of them were not paid a living wage for almost five years in compliance with the law,” she added. “This will mean that they are entitled to their money and that can make a big difference in their lives.”
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GLENDALE, Ariz. — When it was done and the Chargers had lost to the Arizona Cardinals, 17-15, on Monday night at State Farm Stadium, their wide receivers held an impromptu meeting in front of their locker stalls, hashing out what did and didn’t work in a game that slipped away suddenly and then all at once.
“All of us, we just want to be accountable,” wide receiver Simi Fehoko said. “We just wanted to talk about how the game went and about holding ourselves accountable. Just being consistent and being a friendly or any kind of receiving option for Justin (Herbert) is huge for us. Go out and execute.”
Across the way, kicker Cameron Dicker offered a tight smile and accepted congratulations after kicking five field goals, accounting for all of the Chargers’ 15 points, including a career-best and franchise record-tying 59-yard boot. He also was successful from 50, 28, 47 and 40 yards.
Dicker’s 40-yard field goal gave the Chargers’ an all-too-brief 15-14 lead with 1:54 remaining in the game. Herbert had guided the Chargers from their own 1-yard line to the Cardinals’ 22 during a massive, 15-play drive that exhausted 8:12 of the fourth-quarter clock.
“I’m very happy with the way I hit (the ball),” said Dicker, whose previous best was a 55-yard field goal last season. “Did what I could, but at the end of the day, a loss is a loss. It’s fun for me to continue like this (converting from long distance), but it’s always a bummer to lose like this.”
Down the corridor from the locker room, Chargers head coach Jim Harbaugh did his best to explain how and why it went wrong for the Chargers (3-3), who failed to score a second-half touchdown for the fifth consecutive game and watched in agony as Chad Ryland kicked the winning 32-yard field goal as time expired.
“I thought we moved the ball effectively in the air, but I kept waiting for our running game to pop, and it never did,” Harbaugh said. “It’s not time to lighten up, but to tighten up. Credit to the Cardinals. Their back (James Conner) had a great game, making us miss.”
Conner rushed for 101 yards on 19 carries, anchoring an Arizona ground game that totaled 181.
Moments later, Herbert entered the same interview room that Harbaugh had just exited and tried to put into words the reasons for the Chargers’ ongoing offensive struggles beyond halftime, when it matters most and games are on the line. Herbert threw for a season-best 349 yards but no touchdowns.
“It’s a razor-thin margin in this league,” said Herbert, who also set season highs with 27 completions on 39 attempts, connecting with seven different receivers for gains of 14 yards or more, but did not throw an interception. “We’re a couple of plays away from putting up a lot of points.”
By the end of the night, the Chargers suffered from a case of the what-ifs.
As in, what if rookie cornerback Cam Hart wasn’t penalized for unnecessary roughness on an incomplete pass from Cardinals quarterback Kyler Murray to Marvin Harrison Jr., giving Arizona a first down at its own 45? The Cardinals would have then faced a third-and-10 at their own 30 with 1:45 to play.
One replay angle made it appear as if Hart missed Harrison.
“The flag was thrown by the back judge, middle of the field, center field guy. He had a really good look at it,” referee Clete Blakeman told a pool reporter after the game. “It was essentially helmet-to-helmet contact near the head and neck area of the receiver, which is what triggered the foul for unnecessary roughness.”
Arizona then drove for Ryland’s winning field goal.
“That flag was devastating,” Chargers safety Derwin James Jr. said.
Continuing the what ifs, what if Chargers defensive lineman Teair Tart hadn’t fumbled after intercepting a pass from Murray that ticked off the hand of outside linebacker Mack and ricocheted to him? The Chargers would have had the ball deep in Arizona territory early in the game.
And what if Chargers wide receiver Jalen Reagor hadn’t fumbled the ball through the end zone after a 41-yard pass play from Herbert? The Chargers would have had the ball at the Cardinals’ 2-yard line with a chance to take a first-quarter lead, but instead struck out on another scoring opportunity.
“We’ve just got to be better,” James said. “It wasn’t our best football. Frustrated, bro. We don’t want to lose any games, especially because we know how much they count in the end. We’re going to look back on this game and I don’t want to dwell on it, but we need to win these games, these types of games.”
Originally Published:
Former New York City mayor and Trump attorney Rudy Giuliani filed for bankruptcy Thursday, according to a court filing.
Giuliani filed for Chapter 11 bankruptcy less than a week after a jury ordered him to pay $148 million in damages to Fulton County election workers Ruby Freeman and Shaye Moss, who sued him for defamation.
He estimates his liabilities are between $100,000,001 and $500 million.
—This is a developing story.
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A La Habra man was convicted Tuesday of first-degree murder for the strangling death of his girlfriend, a crime prosecutors say he committed because he believed she was pregnant with twins and insisted on having the babies.
Amer Alhasan, a cash-strapped 28-year-old who worked occasionally at a smoke shop, admitted that he strangled Tiyanie Ly, a 38-year-old mother of three who worked at an Anaheim probiotics firm, in his bedroom in October 2018.
He admitted that he wrapped her in a sheet, dropped the body in a trash bin in Anaheim and tried desperately to flee the country.
Testifying at his murder trial in Orange County Superior Court, however, Alhasan insisted the slaying was an accident, and that he grabbed at her neck instinctively when she appeared unannounced in his bedroom and viciously squeezed his testicles.
“I told her, ‘Let go, let go, let go.’ She’s not listening,” Alhasan testified. “I just lunged forward and grabbed her by the neck.” He said he let go when her grip loosened, and she fell on top of him. “I started yelling and screaming … ‘Tiyanie, Tiyanie!’”
Deputy Dist. Atty. Janine Madera argued that Alhasan lied about how he killed Ly, noting a horizontal bruise on her neck that suggested he choked her from behind with a belt. A medical examiner testified that strangulation by hand would have ruptured the hyoid bone, which in this case was intact.
Even on its own terms, Madera argued, Alhasan’s account defied belief. Underscoring the implausibility of his story was the difference in size between killer and victim. Alhasan is 6-foot-1 and 220 pounds; Ly was 5-foot-4 and 126 pounds.
“She’s tiny,” Madera said. “He’s so much bigger than her.”
Alhasan, his big shoulders heaving as he wept on the witness stand, repeatedly claimed memory failure when pressed for details of the killing under cross-examination.
“How long did you have your hands around her neck?” Madera asked.
“I don’t remember,” he replied. “Everything just happened so fast.”
Noting that Alhasan had trained as a surgical assistant at a vocational college, the prosecutor said he should have known that a person being strangled would pass out from oxygen deprivation long before dying.
When the prosecutor was finished with his cross-examination, Alhasan slumped forward on the witness stand and gasped for breath. Superior Court Judge Kimberly Menninger told him he would hyperventilate if he didn’t control himself.
“Hold your breath,” the judge said. “Slow that down. … There you go.”
Days before her death, according to courtroom testimony, Ly informed Alhasan that she was pregnant with twins. She was not actually pregnant, but it was unclear whether she was simply mistaken or hoping to gain emotional leverage over him.
“What matters is that the defendant thought she was pregnant,” Madera told jurors. “The defendant does not want to pay for a baby. … He’s constantly after money from people.”
Soon before the slaying, Alhasan did Google searches with the terms “Cost of abortion” and “cost of abortion twins,” prosecutors said.
Soon after the slaying, his Google searches included the phrases “Is fleeing the country the best way to get away with murder,” “How do police catch a murderer,” and “How long does it take until someone is considered missing,” the prosecution said. He also found a site titled “10 Ways to Dispose of a Dead Body if You Really Need To.”
After dumping Ly’s body in a bin near an Anaheim apartment complex, Alhasan bought a plane ticket to Jordan, where he had family, but missed the flight. Police caught him at Los Angeles International Airport as he was trying to get another flight.
Another of Alhasan’s ex-girlfriends said that he spit on her and choked her with her necklace when she tried to break up with him in 2014.
Defense attorney Michael Bruggeman described the killing as a “horrible accident” that was “provoked” by Ly’s behavior.
“He was right to fear great bodily injury, being grabbed in the testicles,” Bruggeman said.
In her closing argument to jurors Tuesday, Madera argued that Alhasan’s selective memory during his testimony was a convenient reason to avoid having to explain his behavior.
“Why did you keep strangling her long after she passed out?” Madera said. “He doesn’t want to answer these questions. … Nothing he says makes any sense.”
Alhasan will face 25 years to life in prison when he is sentenced Oct. 6.
Netflix users in some countries will soon have to pay more to watch TV and movies without advertisements.
In a shareholder letter from Tuesday, the streaming service said it’s looking to “retire” its cheapest ad-free plan in “some of our ads countries.” Netflix will implement the change in Canada and the U.K. in the second quarter of the year before “taking it from there,” the letter said.
The company did not specify when (or whether) the change would impact U.S. subscribers.
“Our aim is to make ads a more substantial revenue stream that contributes to sustained, healthy revenue growth in 2025 and beyond,” the shareholder letter read.
There could be more price hikes down the line.
“As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements, which in turn helps drive the positive flywheel of additional investment to further improve and grow our service,” according to the shareholder letter.
Last year, Netflix stopped allowing new and returning subscribers in the U.S., U.K. and Canada to select its basic plan. American subscribers who were grandfathered into Netflix’s basic plan saw a price hike last year after Netflix raised that plan’s price from $9.99 to $11.99 a month. The company also hiked the price of its costliest plan in the U.S. to $22.99.
The video streaming service also started a crackdown on password sharing last year.
The current lowest-tier plan available for Netflix newcomers is the $6.99-per-month ad-supported plan. Some TV shows and movies are not available under the plan. The cheapest ad-free plan for newcomers is the $15.49-per-month standard plan.
According to Netflix, the ads plan currently accounts for 40% of new sign-ups in ad markets. The company said it added 13.1 million subscribers last quarter, boosting its total to around 260 million globally.
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SAN DIEGO, Calif. /California Newswire/ — Mortgage Capital Trading, Inc. (MCT®), the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single provider, is pleased to present the MCTlive! Lock Volume Indices for March 2023. MCT Data represents a balanced cross section of several hundred lenders among retail, correspondent, wholesale, and consumer direct channels. A broad-based view of the entire market provides a more accurate picture of mortgage originations versus indices that are influenced by mega lenders. The March MCTlive! Lock Volume Indices is broken out by transaction type: purchase, rate/term refinance, and cash out refinance.
March MCTlive! Lock Volume Indices show that after a downward trend in February, lock volume increased across the board for the month. Purchase lock activity was up 23% compared to February, rate/term refinance volume was up 39%, and cash-out refinance volume was up 28%. Lock activity in total was up 24% versus February. The fall of Silicon Valley Bank and the expectation of the fed to ease rate hikes resulted in a modest drop in mortgage rates in March. As the fed reaches for its terminal fed funds rate and we begin moving into the spring, we should see the affect on purchase activity. As it stands, total lock activity is still down 32% from a year ago. That is primarily due to a drop off in refinance demand, as purchase lock activity sits 21% lower than at the same point last year. Rate and term refinance volume is down 63% from one year ago, and cash-out refinance volume is down 75% over that same period.
It is important to note that MCT’s rate lock activity indices are based on actual dollar volume of locked loans, not number of applications. Especially in a tight purchase market, MCT believes its methodology (using actual loans locked vs. applications) is a more reliable metric. There is a higher likelihood of having multiple applications per funded loan, and prequals do not convert at as high of a rate in the current market as has historically been the case – especially when applications are counted at the early stage of entering a property address.
* Index values to end March as a percentage benchmarked to the start of the month
Category | Month-Over-Month Index Value Change
Total: 24.12%
Purchase: 23.49%
Rate/Term Refinance: 39.17%
Cash Out Refinance: 28.30%
* INDEX VALUE CHANGE YEAR-OVER-YEAR
Category | Year-Over-Year Index Value Change
Total: -31.95%
Purchase: -21.19%
Rate/Term Refinance: -63.06%
Cash Out Refinance: -74.99%
MCT will be publishing the MCTlive! Mortgage Lock Volume Indices monthly, intending the data to serve as an enduring informational tool for industry participants, analysts, and watchers.
About MCT:
Founded in 2001, Mortgage Capital Trading, Inc. (MCT)® has grown from a boutique mortgage pipeline hedging firm into the industry’s leading provider of fully integrated capital markets services and technology. MCT’s offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world’s first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive!®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.
For more information, visit https://mct-trading.com/
Learn More: https://mct-trading.com/
This version of news story was published on and is Copr. © 2023 California Newswire® (CaliforniaNewswire.com) – part of the Neotrope® News Network, USA – all rights reserved.
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United Auto Workers President Shawn Fain is scheduled to give an update Friday on the union’s labor contract negotiations with Detroit’s Big Three automakers, with some signs the sides are narrowing their differences as the strike inflicts an increasingly heavy financial toll.
Fain could call for additional strikes at Ford, General Motors and Stellantis or he could announce that progress has been made and halt the work stoppages. The union has so far limited the strike to about 25,000 workers at five vehicle assembly plants and 38 parts warehouses. Still, Fain has announced strike expansions on each of the past two Fridays.
Almost three weeks into the strike, there are rumblings in Michigan that the Big Three and the UAW are headed in the right direction. Both sides made meaningful progress during talks Wednesday, the Associated Press reported. A source with the UAW told CBS News that “active talks” are happening.
Ford said in a statement on its site that it increased its proposal to the union this week, offering a general wage increase of more than 20% over four years. Ford also said the company raised its retirement contributions and confirmed profit-sharing was offered to temporary workers.
GM, which will announce third-quarter earnings later this month, made its latest offer to the UAW on September 21, the details of which neither side has made public. The automaker’s offer from September 14, however, included a 20% wage increase “over the life of the agreement” and cost-of-living adjustments.
GM on Wednesday announced it has lined up a line of credit of up to $6 billion in light of the possibility of a longer strike. The company said it is “being prudent in the face of uncertainty.” GM also said it estimates the strike will cost the company about $200 million in lost production in the third quarter.
The most recent offer from Stellantis (the parent company of Chrysler, Dodge, Jeep and Ram) also includes a 20% wage increase through 2027 for full-time employees, and a 6% company match for retirement contributions.
The UAW launched a coordinated strike last month when nearly 13,000 autoworkers walked off the job in Michigan, Missouri and Ohio. Since then, the automakers have furloughed or laid off thousands of non-union workers at plants in five states.
Ford expanded its layoffs to 350 workers at a transmission plant in Livonia, Michigan, and 50 workers at an axle plant in Sterling Heights, Michigan. Those workers were officially laid off Thursday, bringing Ford’s total layoffs to 1,330, the company said in a statement.
“These are not lock outs,” Ford said. “These layoffs are a consequence of the strike at Chicago Assembly Plant, because these two facilities must reduce production of parts that would normally be shipped to Chicago Assembly Plant.”
So far, the strike has cost the auto industry about $3.9 billion, according to an estimate from Michigan-based consulting firm Anderson Economic Group. That includes $325 million in worker wages, $1.12 billion in losses for the automakers, $1.29 billion in losses for parts suppliers, and $1.2 billion in dealer and customer losses. The union has avoided strikes at large pickup truck and SUV factories, vehicles that are responsible for much of the automakers’ profits.
— The Associated Press contributed to this report.
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Orange County is girding itself against a potential flood of litigation from victims of the Airport fire, a destructive blaze that was sparked by a public works crew and destroyed more than 160 structures.
On Tuesday, the Orange County Board of Supervisors voted unanimously to retain the law firm of Meyers Nave to assist the county in litigation in connection with the fire.
Four claims for expenses such as destroyed property and hotel fees during evacuation orders have already been filed with the county, according to public records.
Attorney Emily Pincin told The Times that she and business partner Michael Kent were coordinating with several other law firms to file a mass action lawsuit, potentially representing more than 1,000 victims, within the next six months. A mass action lawsuit involves separate lawsuits against a single defendant.
Pincin says the county could be held financially liable for damaged property, lost personal items, relocation expenses and emotional distress.
Orange County Counsel Leon Page declined to comment to The Times on the county’s liability in the fire, which the Orange County Fire Authority determined was set off by two public works employees using heavy machinery to move boulders on Trabuco Creek Road. Authorities classified the cause as “unintentional.”
This revelation spurred a public outcry as people questioned why employees brought heavy machinery into dry brush on a blisteringly hot day.
Retired Orange County firefighter Steve Palmer told the O.C. Register that the decision was “reckless and stupid.”
“It’s triple digits and you’re going to use a big piece of steel equipment to hit rocks?” he said. “That always causes sparks. Who wouldn’t know that or assume that?”
Gregory Keating, a professor at the USC Gould School of Law, told The Times “there is reason to expect substantial liability” if the county is unable to fend off the charge of negligence in starting the fire.
“It could indeed be pretty expensive,” he said. “It might also be complex as many of these properties are probably insured, and the litigation could become entangled in claims made by insurance companies seeking to recover payments they’ve made under their policies.”
Keating said the “basic rule” in negligence law is that liability requires proof of physical harm — meaning personal injury or property damage. Therefore, it may be difficult for victims to receive county compensation for pure economic loss or pure emotional distress.
For example, a local business owner might not be compensated for economic loss due to customers staying away during the fire if their store was not physically harmed.
However, if people can prove physical harm, even from something minor like smoke damage, the county then may be liable for their other forms of loss, he added.
The fire began on Sept. 9 and went on to ravage some 23,500 acres, injure 22 people and destroy more than a hundred homes in Orange and Riverside counties, according to fire officials. The blaze was 95% contained by Wednesday morning.
The four claims received by the county so far were submitted independently of any coordinated legal effort.
Mikhail Trubik filed a $2.34-million claim for his house, guesthouse and five-car garage, which were all destroyed by the fire.
The other three claimants submitted reimbursement requests ranging from $833 to $1,121 to cover hotel and meal expenses during mandatory evacuation orders. Claims for personal injury or damaged property must be filed within six months of the date of loss, according to state law.
The county has also received, as of Sept. 20, at least two claim notice letters from law firms asking that evidence related to the fire be preserved, according to the clerk to the board.
DALLAS — The U.S. government fined American Airlines $50 million for failing to provide wheelchair assistance to passengers with disabilities and damaging thousands of wheelchairs over a five-year period,
The Transportation Department said Wednesday that “in some cases,” wheelchair users were injured, but it did not give a number.
American said it has made significant investments to improve the handling of wheelchairs. The airline will be credited $25 million, or half of its civil penalty, for those investments and compensation paid to affected passengers, according to a consent order.
The incidents raised by the Transportation Department occurred between 2019 and 2023.
The investigation was prompted in part by three formal complaints the Paralyzed Veterans of America filed against American.
Investigators also seized on video of an incident at Miami International Airport last year. Workers slid a wheelchair down a baggage ramp. It crashed into the bottom of the chute, flipped over and skittered across the concrete.
Transportation Secretary Pete Buttigieg said American Airlines “appeared to be one of the worst offenders,” but the problems that investigators found “are not confined to one airline.” He said the department is conducting similar investigations into other airlines, but he would not name them.
“The era of tolerating poor treatment of wheelchair users on airplanes is over,” Buttigieg declared to reporters.
Buttigieg said American’s mistreatment of travelers with disabilities was “not just undignified but unsafe.”
Carl Blake, the CEO of Paralyzed Veterans of America, praised the department’s action.
“We are pleased to see DOT making such a strong statement for how it will hold airlines accountable for jeopardizing the well-being of passengers with disabilities, particularly wheelchair and scooter users,” Blake said in a statement. “We are confident this unprecedented enforcement will make it clear to the entire airline industry that passengers with mobility disabilities deserve to travel with the same level of safety and dignity as everyone else.”
From 2019 through 2023, American mishandled more than 10,760 wheelchairs and mobility scooters, according to Transportation Department figures. Only Southwest Airlines, at more than 11,100, had more incidents. Spirit Airlines had the highest percentage of errors in several of the years, according to the department.
American said it has invested more than $175 million this year on infrastructure, training and other steps to improve the travel experience for people with disabilities.
American said it has cut its rate of mishandling wheelchairs and power scooters by more than 20%, and fewer than one in every 1,000 customers who ask for wheelchair assistance wind up complaining to the airline.
The punishment for American is far more severe than the Transportation Department meted out to other airlines that it determined had violated laws protecting travelers with disabilities. The previous record penalty was $2 million against United Airlines in 2016, which was reduced to $700,000 after United got credit for compensating passengers and other spending.
Department officials said the size of the fine against American reflected the large number of incidents, which included damaging wheelchairs or taking too long to return them to passengers after flights.
Federal regulations require airlines to return wheelchairs and scooters to customers quickly and undamaged after flights, and to help passengers with disabilities get around airports and get on and off planes. Airlines are required to pay for repairs or replacement of damaged wheelchairs, but advocates say that can still leave users without a suitable way to get around for weeks.
The fine against American follows the Transportation Department’s proposed rule to make it a violation of federal law if airlines damage wheelchairs or don’t return them promptly to the owners. The rule would also require annual training for airline employees who handle wheelchairs or lift passengers with disabilities. Buttigieg said the rule is being finalized, but he gave no timetable for completion.
A significant swath of Americans now expect to spend almost 40 years in retirement, with about 1 in 8 workers planning to stop working before they turn 61. At the same time, most workers say they want to live until they’re 100.
That means some workers are eyeballing a four-decade retirement, an ambitious goal that comes with serious downsides. Among them: How to fund almost 40 years of retirement at a time when most workers are far from reaching their savings goals.
The findings, from a recent survey from financial services firm Corebridge Financial, underscore the gap between Americans’ lofty dreams for their golden years versus their financial realities. The median retirement savings balance for people who are between 55 to 64 — just years from potentially stepping back from work — is $185,000, according to NerdWallet.
“100 is a very long and fulfilling life, and that’s pretty optimistic and great to see,” Bryan Pinsky, president of individual retirement at Corebridge Financial, told CBS MoneyWatch. “That optimism and hope does come with a little bit of tension — only 27% are very or extremely confident that they won’t outlive their retirement savings.”
In fact, the survey, which polled about 2,300 adults, found that only about 4 in 10 respondents believe their savings will last 20 years in retirement, suggesting that while more Americans want a three- or four-decade retirement, few expect they’ll have funds that will stretch that long.
The rule of thumb for retirement savings is to draw down 4% of one’s retirement assets each year. That means someone with $185,000 saved in a 401(k) will have annual income of $7,400 from their savings — hardly a big cushion, especially if one needs extra medical care or assisted living in old age.
Even more troubling are the 3 in 10 Americans over 59 years old who don’t have a penny saved for retirement. Those workers are likely to spend decades in old age surviving solely on Social Security, a plan that’s geared to replace only a portion of one’s working income. The typical retiree on Social Security receives $22,800 annually from the program — above the poverty line, but hardly enough to fund a cushy retirement.
Only about 10% of Americans between the ages of 62 and 70 are both retired and financially stable, Teresa Ghilarducci, a professor at The New School for Social Research in New York and a retirement expert, recently told CBS MoneyWatch. Increasingly, her research has found, many seniors need to return to work to earn extra money despite being “retired.”
Longevity risk is a cornerstone of retirement planning that few Americans understand, Stanford University expert Annamaria Lusardi told CBS MoneyWatch last year. This issue involves understanding how long you’re likely to live once you hit retirement age, with many Americans underestimating this figure — and therefore failing to sock away enough money to support themselves.
On the other hand, workers who believe they’ll live until 100 might be motivated to stash away more money for their retirement years.
Interestingly, Gen Z, the youngest generation in the workforce, is also the most optimistic about reaching their centennial anniversaries, with about 63% saying they want to reach the milestone. That’s about 10 percentage points higher than baby boomers or Gen X.
That could explain why Gen Z is taking retirement more seriously than older generations did at their age. About 3 in 10 Gen Zers (who are between 11 to 26 years old) currently have a 401(k) or IRA, compared with 1 in 10 Gen Xers when they were the same age in 1989, according to a recent study from the Investment Company Institute.
Asked how to fund a retirement that can stretch almost 40 years, Pinsky noted that it’s important for workers to start saving. And he encouraged workers to visit a financial planner or expert who can help them devise a retirement plan.
“What is most important is recognizing whatever your retirement plan is, you need to revisit it on a regular basis,” he added.
That’s good advice for people who have access to employer-sponsored retirement plans, but experts like Ghilarducci point out that the U.S. retirement system is failing millions of Americans. For one, many workers lack access to 401(k)s and other employer-sponsored matches, especially people who are gig workers, low-wage employees or unpaid caretakers for family members.
Saving early is key, given the power of compound interest, but many young workers are strapped by student loans and the high cost of living and thus may not feel able to set away funds.
To be sure, millions of workers retire every year, even if they don’t have the $1.8 million that Americans say they need to retire comfortably. But retirement is increasingly something enjoyed by the rich, with Ghilarducci’s research finding that low-income workers typically spend about 12 years in retirement, while the rich spend about 20 years in retirement.
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Click on a category name to read about the top vote-getters in that category in the 30th Annual Best of Orange County Readers’ Choice poll.
Irvine was voted the Best city to live in as part of the Best of Orange County balloting. (Photo by Paul Bersebach, Orange County Register/SCNG)
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Some of those taking Ozempic or Wegovy are learning that too much of a good thing is never good.
Semaglutide, the medication prescribed under the brand names Ozempic, for treating Type 2 diabetes, and Wegovy, for weight management, works by mimicking the hormone GLP-1, which is released by the gut after eating. The hormone has several effects in the body, such as stimulating insulin production, slowing gastric emptying and lowering blood sugar.
It has been hailed for its weight-loss benefits, most conspicuously among celebrities. Oprah Winfrey recently said she uses weight-loss medication and lauded “the fact that there’s a medically approved prescription for managing weight and staying healthier, in my lifetime.” She said it felt “like a gift.”
But between Jan. 1 and Nov. 30 this year, at least 2,941 Americans reported overdose exposures to semaglutide, according to a recent report from America’s Poison Centers, a national nonprofit representing 55 poison centers in the United States.
California accounted for about 350 of the reports, or around 12%, according to Raymond Ho, the managing director of the California Poison Control System. Ho said the number roughly corresponds to the proportion of California’s population to the rest of the country.
The nationwide number of semaglutide overdoses this year is more than double the 1,447 reported in 2022, which was more than double the 607 semaglutide overdoses reported in 2021.
There were only 364 reported semaglutide overdoses in 2020 and 196 in 2019, less than 10% of the number that occurred so far this year.
America’s Poison Centers released the data with a disclaimer that the figures likely represent an undercount in the number of cases involving semaglutide, as the center only included those voluntarily reported to poison control centers.
“It is an alarming trend from a poison center perspective,” Ho said. “We get the usual dosing error calls, and all of a sudden there’s an explosion of people calling much more regularly about this.”
The use of semaglutide and other GLP-1 imitators has surged in popularity over the last year as a quick and effective way to manage weight loss. More than 4 million prescriptions for semaglutide were issued in the United States in 2020, according to federal data, and usage of the drug has continued to grow since then.
Dr. Stephen Petrou, an emergency medicine physician and toxicology fellow with California Poison Control, said there were multiple factors contributing to the increase in overdoses.
“Not only is there rising social popularity” of the drug, Petrou said, “but there’s also wider FDA indications for use.”
Semaglutide was patented by the Danish pharmaceutical company Novo Nordisk in 2012 and has been available in the United States since the FDA approved it in 2017. The drug was originally released as Ozempic for Type 2 diabetics to manage blood sugar levels. Moderate weight loss was found to be a common side effect of the drug, and the FDA approved a different formulation of semaglutide, called Wegovy, for that purpose in 2021.
Ho and Petrou said the different formulations of semaglutide could help explain why it has led to so many more overdoses than other drugs of its class. Both are administered via weekly injections, with Wegovy in single-use pens and Ozempic in needles that can vary in dosage. Standard dosages range from 0.25 mg to 2.4 mg for weekly injections, depending on the prescription.
“Someone who is unable to get Wegovy can resort to using Ozempic instead, because it is the same medication, but they may start to [adjust] their dose” upward, Petrou said. “That’s when they might encounter problems.”
Ho and Petrou said the vast majority of semaglutide overdose reports are accidental, either due to patients not waiting a week between doses or by misunderstanding dosing instructions. Unlike the GLP-1 hormone, which is rapidly metabolized by the body, semaglutide and similar medications have much longer half-lives, meaning the medication can build up inside the body if not enough time elapses between doses.
Furthermore, semaglutide can also be taken orally as a daily pill — sold under the name Rybelsus — but overdoses are rarely reported.
“We’re not seeing cases of mis-administration or toxicity or overdose with that medication,” Petrou said.
Ho and Petrou explained the signs of semaglutide overdose can resemble those of hypoglycemia, also known as low blood sugar. Symptoms can begin with increased heart rate, sweating, dizziness and irritability. More serious cases can cause confusion, delirium and coma.
“If they have hypoglycemia, the good majority of them will have to be admitted to the hospital and monitored and watched closely, because of how long these drugs last,” Ho said.
Ho encourages everyone who is prescribed semaglutide to thoroughly read the medication’s label and follow the dosing instructions listed.
“We always say this: The dose makes the poison,” Ho said.
Anyone who needs emergency poison assistance or has other poisoning-related inquiries can call the national Poison Helpline at (800) 222-1222 or visit the Poison Help website.
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He built his brand on being a roaring archconservative unafraid to take on liberals. He was a pioneer of this new right-wing faction that has become the face of the Republican Party. He was former President Trump’s pick to lead the U.S. House of Representatives. And now, he’s put California Republicans in a tough spot.
Ohio Rep. Jim Jordan ended his bid to lead the lower chamber Friday after facing stiff opposition from moderates and other lawmakers in key districts.
But all five California Republicans from districts President Biden won in 2020 — Young Kim of La Habra, David Valadao of Hanford, Mike Garcia of Santa Clarita, Michelle Steel of Seal Beach and John Duarte of Modesto — stood firmly behind Jordan throughout his three failed attempts to secure the gavel.
The five Californians’ decision to back the Ohioan could come back to haunt them. Jordan’s deep ties to Trump’s attempts to overturn the 2020 presidential election may not sit well with key voters in swing districts, Democratic strategist and pollster Cornell Belcher told The Times on Friday.
“You have someone in Jim Jordan that encapsulates all that they dislike about MAGA and the Trump era,” Belcher said. “Jordan is the Donald Trump of the House of Representatives. And those swing voters have rejected Donald Trump.”
House Republicans have struggled to pick a leader since eight Republicans on Oct. 3 led a vote, joined by Democrats, to remove Rep. Kevin McCarthy of Bakersfield from the speaker’s chair.
McCarthy’s historic ouster has left the lower chamber in chaos. Republicans have proven unable to secure a simple majority to elect a speaker who can call floor votes on critical legislation, including bills to respond to the conflicts engulfing Israel and Ukraine and to avert a government shutdown by mid-November.
Polling indicates voters are annoyed by the chaos.
Forty-nine percent of GOP respondents disapprove of how congressional Republicans are handling their jobs, according to a Thursday poll conducted by Global Strategy Group and released by Navigator Research, a Democratic firm. Sixty-nine percent of all voters said they disapproved of the way congressional Republicans handle their jobs.
Republican voters have become more likely to hold their own party accountable for the chaos in Washington. On Sept. 11, 32% of Republicans polled said they would blame their party most if
the government were to shut down. By Oct. 16, that share had grown to 36%.
“The fact that Jim Jordan has gotten up to 200 votes is a reflection: He and Trump represent the GOP,” Sarah Longwell, an anti-Trump Republican strategist, told The Times. “They are symptoms of the same problem. The party has moved hard into the MAGA direction.”
“It’s not right, it’s not left,” Longwell said. “It’s just Trump.”
Duarte and Garcia’s races are considered “toss-ups,” Cook Political Report, a nonpartisan congressional watchdog, noted on Friday. Cook rates Valadao and Steel’s races as leaning Republican, and Kim’s as likely to go Republican.
Spokespeople for Garcia, Steel and Duarte did not respond to requests for comment.
In a statement, Kim told The Times that McCarthy’s removal had kneecapped the chamber from responding to pertinent issues.
“I have worked in good faith to be part of the solution and support our conference’s nominees, but it’s clear no candidate has the votes to be Speaker at this time,” she told The Times in a statement Friday.
Kim said her conference should empower North Carolina’s Rep. Patrick T. McHenry, who is serving as speaker pro tempore, to pass critical legislation until a leader is elected.
Valadao has said in statements that he backed Jordan “because we need to get back to work” and that he would support a plan to empower McHenry.
Spokespeople for Kim and Valadao would not say who the lawmakers would back after Jordan dropped out and at least five Republicans — Reps. Austin Scott of Georgia, Kevin Hern of Oklahoma, Pete Sessions of Texas, Byron Donalds of Florida and Jack Bergman of Michigan — said they would run for speaker.
McHenry has said he will not run to stay in the chair. But giving him more speakership powers could still be on the table if his caucus can’t agree on a leader.
The proposal to grant him more power, which would probably need buy-in from Democrats, fell flat Thursday when it became clear Republicans were overwhelmingly against it, leaving the lower chamber foundering as it’s set to enter its fourth week without a permanent leader.
California Republicans’ pragmatic explanations for backing Jordan have not stopped anti-Trump groups from going after them.
Before Jordan dropped out on Friday, Congressional Integrity Project, a Democratic-aligned nonprofit, released ads highlighting the Ohioan’s ties to the right wing of his party.
The digital ad noted that Jordan founded the arch-conservative House Freedom Caucus, denied the results of the 2020 presidential election and is “arguably the member of Congress most involved in Donald Trump’s attempted coup.”
“Anyone who endorses Jordan and any member who votes for him is affirmatively voting for a coup plotter, an election denier and a foe of American democracy,” the ad said.
Jordan, who voted not to certify many election results, “was a significant player in President Trump’s efforts” to stay in power, the House Jan. 6 committee noted in its final report on Trump supporters’ 2021 attack on the U.S. Capitol during the certification of Biden’s victory.
Garcia is the only one of the five Californians in question who voted against certifying some election results.
Denying the outcome of the 2020 presidential election remains deeply unpopular among key voters, Belcher said. In 2022, many Democratic candidates ran on a platform saying their party would save American democracy. This argument resonated with voters as Democrats blunted what should have been a massive red wave for the GOP, Belcher said.
The protracted infighting among House Republicans is “an absolute gift” to Democrats, he added. He predicts that progressives competing in tight California districts will run attack ads featuring their opponents’ support for Jordan, as advocacy groups have.
Other experts, though, say all hope is not lost for the five California Republicans.
Their chances to stay in office will heavily depend on their messaging, said Whit Ayers, a longtime GOP pollster. If they can show they backed Jordan for practical reasons, voters may excuse their support for him.
Voters who are paying very close attention may recall that the GOP refused to empower McHenry to get business done while the speakership race continues. But Ayres doubted most voters are following that closely.
“It’s so much of an inside game,” he said, “most people are simply not aware of it.”
Logan reported from Washington and Pinho from Santa Barbara.
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SAN DIEGO, Calif. /California Newswire/ — Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, announced that it has automated the process of digital TBA trade assignment during the loan sale process for both mortgage lenders and participating correspondent investors. This automation makes assignment of trade loan sales (AOTs) faster, more convenient, and easier for investors to offer, and is expected to further expand on the $19.5 million in cumulative savings experienced by MCT’s lender clients as a result of AOTs in 2022.
“During a time of extreme pressure on profit margins industry-wide, we’re proud of the impact AOT automation has had for our lender and investor clients,” shared Justin Grant, Senior Director, Head of Investor Services at MCT. “Based on our conversations with investors who offer AOTs, we estimate MCT lenders represent around ninety percent of AOT executions in the market today.”
AOTs are an increasingly popular industry practice that involves three counterparties – mortgage originator, mortgage investor, and broker dealer – transferring loan collateral and hedge positions to a mortgage investor and executing a tri-party agreement. While the AOT process has been automated for MCT mortgage originators for several years, recent improvements to the functionality have automated the process for participating correspondent investors with support from an integration with Agile’s TBA platform.
“As a mortgage investor, Village Capital is always looking for ways to integrate technology to improve the price and efficiency for our approved lenders,” said Brandon Knudson, VP of National Correspondent Sales at Village Capital. “Full automation of the AOT process allows us to pass along improved execution to our customers as well as improve the efficiency of processing the AOTs. Since everyone is using the same database of record, it greatly reduces any potential errors and speeds up the process of acceptance.”
AOTs enable mortgage lenders to save the bid-offer spread on the to-be-announced mortgage-backed securities (TBAs) used to hedge their open mortgage pipeline. Due to market volatility these bid-offer spreads have been historically wide, averaging 11.3 basis points in 2022. Participating MCT lenders saved an average of $97,538 each through AOTs in 2022.
MCT’s Investor Services division offers a comprehensive suite of tools for correspondent investors, including AOT automation and support developing new AOT delivery channels. MCT’s AutoBid bid tape pricer automates the process of pricing bid tapes and accepting commitments, while Investor Analytics features unique reporting and visualizations designed to optimize investor pricing and build market share. More AOT channels and sharper investor pricing directly benefits MCT’s lender clients and allows investors to improve their market share without lowering margins. Contact MCT to learn more about AOT strategy for lenders and investors.
About MCT:
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry’s leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.
For more information, visit https://mct-trading.com/ or call (619) 543-5111.
Learn More: https://mct-trading.com/
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