September 30, 2022
  • September 30, 2022

Mortgage loans

IDB approves $106 million loan to support tourism in El Salvador

by on September 28, 2022 0

SAN SALVADOR, Sept 28 (Reuters) – The Inter-American Development Bank (IDB) has approved a $106 million loan to support the recovery and expansion of El Salvador’s tourism sector, the institution said in a statement on Wednesday. The funds will be directed to projects that focus on environmental sustainability, employment and closing gender gaps. The...

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BBB warns people against payday loan scammers

by on September 27, 2022 0

DOTHAN, Ala. (WTVY) – The COVID-19 pandemic, job loss and inflation have forced many people to turn to payday loans and loans when in a rush to make ends meet. But, sometimes it comes with scams and predatory lending. The Better Business Bureau recently conducted a study on this, and found that more and...

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What canceling a student loan could mean for your budget

by on September 18, 2022 0

(NerdWallet) — The Biden administration announced federal student loan relief plans last month. The plans include debt forgiveness of up to $10,000 for borrowers who meet income requirements and up to $20,000 for Pell Grant recipients. Beyond cancellation, the proposal also extended the pause on loan repayments until the end of the year and...

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Clearing up the confusion about student loans

by on September 16, 2022 0

RAPID CITY, SD (KEVN) — Almost everyone knows someone with student loan debt, but many borrowers may be confused about how much they owe and what they need to repay. About 1 in 5 Americans have student loan debt and despite nearly 20% of all Americans having this debt, many borrowers become confused or...

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Should I get a variable rate mortgage or is it too risky: NPR

by on September 10, 2022 0

Katrina Wooten signed a contract to buy this house under construction near Gainesville, Florida. Then, mortgage rates rose sharply. Katrina Wooten hide caption toggle caption Katrina Wooten Katrina Wooten signed a contract to buy this house under construction near Gainesville, Florida. Then, mortgage rates rose sharply. Katrina Wooten Katrina Wooten is buying a house...

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Loan forgiveness myths – InsideSources

by on September 8, 2022 0

Politicians deliberately use the word “forgiveness” when talking about what they do for student loans because it sounds magnanimous. The reality is very different. Myth #1: Student loan forgiveness costs taxpayers nothing because the loaned money has already been spent. Imagine a student is supposed to repay $10,000 in five years and the government...

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BBB warns of the dangers of payday loan scams

by on September 2, 2022 0

CLEVELAND, Ohio (WOIO) – The COVID-19 pandemic has led many people to turn to high-interest loans, short-term loans or payday loans as a way to make ends meet. These loans, which are illegal in 18 states, are legal in Ohio and can be extremely hurtful to people applying for a loan. The BBB asks...

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Student Loan Crisis Reflects Underlying ROI Crisis (Opinion)

by on September 1, 2022 0

Consider, really consider, the numbers: One in seven Americans is still paying off their college loans, which now total about $1.6 trillion. Recent graduates who borrowed money for their college education each owed an average of nearly $29,000 before landing their first full-time job. The amount of outstanding student loans is staggering, so it’s...

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USDA Mortgage Calculator – Forbes Advisor

by on August 30, 2022 0

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. The United States Department of Agriculture (USDA) supports homeownership opportunities for low- and middle-income Americans through several loan, grant, and loan guarantee programs. For qualified borrowers, USDA loans are issued directly...

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White House tops Twitter trolling GOP over loan forgiveness

by on August 27, 2022 0

Topline The White House marked the most popular tweet of the week with a sarcastic thread applauding congressional Republicans who criticized President Joe Biden’s student loan cancellation plan despite canceling business relief loans in the event pandemic, a rare viral win for a major institutional account on the platform. Joe Biden laughs while speaking...

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ADC Therapeutics Announces $175 Million Senior Secured Term Loan from Owl Rock and Oaktree and Settlement of Existing Senior Secured Convertible Notes

by on August 15, 2022 0

LAUSANNE, Switzerland–(BUSINESS WIRE)–ADC Therapeutics SA (NYSE:ADCT) today announced that it has completed a series of strategic transactions in which: Entered into a new $175 million senior secured term loan with certain funds of Owl Rock, a division of Blue Owl Capital, Inc. (“Owl Rock”) and funds managed by Oaktree Capital Management, LP (“Oaktree”) with...

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CFPB, DOJ Reach $24.4 Settlement With Mortgage Originator Over Alleged Lending Discrimination – Financial Services

by on August 12, 2022 0

August 12, 2022 Goodwin Procter LLP To print this article, all you need to do is be registered or log in to Mondaq.com. On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and the United States Department of Justice (DOJ) announced that they had reached an agreement with a non-bank residential mortgage lender...

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South Australians will soon be able to buy their first home with a low down payment on HomeStart loans

by on August 7, 2022 0

Owning a home could soon become a reality for more South Australians with a state government-backed lender lowering their minimum deposit requirements. Key points: The HomeStart graduate loan has reduced its minimum deposit from 3% to 2 The program is available to South Australians with a Certificate III or higher qualification The lender is...

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Student loan payment break set to end this month

by on August 3, 2022 0

President Joe Biden (Photo by MANDEL NGAN/AFP via Getty Images) AFP via Getty Images The student loan payment break is expected to end this month. Here’s what you need to know — and what it means for your student loans. Student loans After more than two years of historic student loan relief, the student...

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New home loans fall at fastest pace in two years

by on August 2, 2022 0

New mortgage commitments fell for all types of buyers in June, with first-time home buyers – the cohort of borrowers most exposed to rising borrowing costs – being the hardest hit. The value of new home loans for first-time buyers fell 10% from May to a seasonally adjusted $4.5 billion in June, the biggest...

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See how mortgage rates change over time

by on July 31, 2022 0

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We earn commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. Much has been said about a slowdown in the housing market in recent months. Rising...

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Interest rates and the cost of living are holding back mortgage lending

by on July 29, 2022 0

Loans to investors, however, rose 6.4% month-on-month, the highest since November 2015, as cashed-in owners brace for the return of international students and other migrants. “Growth in housing investment lending is likely supported by rising rental yields, low vacancy rates and the expected return of overseas migration,” APRA said. Macquarie on Thursday reported 8%...

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Wolters Kluwer eVault capability now open to more US lenders through Ginnie Mae Digital Collateral Program

by on July 27, 2022 0

MINNEAPOLIS–(BUSINESS WIRE)–Lenders across the United States who are eligible to participate in Ginnie Mae’s recently expanded digital collateral program can now enjoy the benefits of eVault technology integrated into the Ginnie Mae mortgage ecosystem and powered by Wolters Kluwer Compliance Solutions. This spring, Ginnie Mae, the U.S. government’s National Mortgage Association, announced that it...

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Sungage Financial raises loan cap to fund large

by on July 20, 2022 0

BOSTON and OAKLAND, Calif. and HONOLULU, July 20, 2022 (GLOBE NEWSWIRE) — To help installers meet the growing demand for more complex solar and storage systems, Sungage Financial can now provide residential solar financing for up to $200,000. $ per project – the highest standard loan limit in the industry. The need stems from...

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Student loans: 3 important deadlines

by on July 16, 2022 0

President Joe Biden (Photo by Denis Doyle/Getty Images) Getty Images Here are 3 important deadlines every student borrower should know. Here’s what you need to know — and what that means for your student loans. Student loans Student borrowers should be aware of three deadlines that will affect the future of student loans. In...

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Vantage Data Centers Secures $300M Green Loan for VA13 Facility in Northern Virginia

by on July 12, 2022 0

DENVER–(BUSINESS WIRE)–Vantage Data Centers, a leading global provider of utility-scale data center campuses, today announced that it has completed a $300 million green loan in recognition of the sustainable design features of its data center VA13 data located in Northern Virginia. The loan was structured and arranged by Societe Generale, one of Europe’s leading...

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SWOT Analysis of Mortgage Brokerage Services Market by 2028

by on July 9, 2022 0

New Jersey, United States – The Mortgage Brokerage Services Market The research report aims to provide a quick overview of the overall industry performance and important new trends. Important information, as well as conclusions, latest key drivers and constraints, are also described here. A wide range of quantitative and qualitative techniques are used by...

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Biden could extend limited waiver

by on June 30, 2022 0

President Joe Biden (Photo by Nathan Howard/Getty Images) Getty Images President Joe Biden could extend the limited waiver for student loan forgiveness. Here’s what you need to know — and what it means for your student loans. Student loans Top Biden student loans official Richard Cordray is pressuring the Biden administration to to deploy...

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Don’t Ignore These Home Loan Fees

by on June 27, 2022 0

As soon as most of us start making money and become financially independent, owning a home that we can call our own is one of the biggest dreams, right? And it’s no surprise that home loans serve as a bridge between that dream and reality. But more often than not, amidst an already long...

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Destiny USA gets loan extension | Best Stories

by on June 25, 2022 0

SYRACUSE — Destiny USA, New York’s largest mall, received a major reprieve on $430 million in mortgages that were due to mature earlier this month. Pyramid Management Group, which owns the mall, said on Thursday it secured a five-year extension to loans from lenders. Details of the deal were not immediately disclosed. But a...

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MCT Launches MSR Technology for Mortgage Managers with Live Loan-Level Pricing

by on June 16, 2022 0

Bill Shirrefs Mortgage Capital Trading (MCT), a mortgage hedging advisory and secondary marketing software company, has introduced new technology for Mortgage Servicing Rights (MSR) buyers to produce more granular pricing for mortgage servicing . The feature leverages an application programming interface (API) to connect MSRlive!, MCT’s industry-leading MSR grading...

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2009 loan mod scheme finally settled at $4.6 million

by on June 14, 2022 0

The owners of a Florida-based law firm have been ordered to pay nearly $4.6million to settle claims they ran a mortgage loan modification and foreclosure rescue scheme that targeted homeowners hispanics. The consent order terminates a lawsuit originally brought by the justice department in 2018 against a law firm Advocate Law Groups of Florida...

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Personal loan ads on social networks

by on June 12, 2022 0

The past few years have been difficult for many Americans. Unfortunately, trying to stretch every dollar to buy basic necessities has become the norm. Some might consider a second or third job to pay the bills. This is precisely the type of person that payday loans target. Promising quick cash without telling the full...

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Explanation: What is a non-performing loan (NPL)?

by on June 6, 2022 0

A non-performing loan (NPL) is a loan in which the borrower is in default and has not made monthly principal and interest payments for a specified period. When principal and interest repayments are over 90 days past due or according to the terms of the loan agreement, banks generally classify the loans as non-performing....

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Woman spent PPP loan on sports car and gambling

by on June 3, 2022 0

MEMPHIS, Tenn. – A Memphis woman is accused of illegally obtaining thousands of dollars in federal PPP loans and spending that money on personal trips, concerts, gambling and a new Maserati. Kenyatta Danielle Hooper, 34, was indicted by a federal grand jury in May on six counts of wire fraud. She was arrested last...

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Mortgage Lenders Can Now Use FormFree’s AccountChek to Satisfy Freddie Mac’s Employment Requirement Reverification

by on June 1, 2022 0

ATHENS, Ga., June 1, 2022 /PRNewswire/ — FormFree® announced today that its AccountChek® Digital Asset Verification Service Supports New Enhancement to Freddie Mac’s Lending Product Advisor® (PLASM) asset and income modeling (AIM) solution that makes assessing borrowers’ employment easier, faster, less expensive and more fraud-resistant. Under the requirements of the Freddie Mac Single-Family Seller/Servicer...

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Opinion: Why we need a mortgage rate reset

by on May 24, 2022 0

Writing about the banks and passbooks of the 80s, I began to see a pattern emerge regarding customers and the refinancing of loans and rates. They were so tall; then so low. I started thinking about farming. Farmers know you can’t keep putting the same plants in the same soil season after season. You...

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Q1 Lender Earnings Snapshot: Profitable Players Leverage Services Portfolio Against Origination Decline

by on May 16, 2022 0

As banks and non-bank lenders recently released their results for the first quarter of 2022, two things became clear: origination volume fell across the board, but those who managed to muster a good quarter benefited portfolio management. As refinancing became less attractive, lenders also sold off much of the mortgage servicing rights (MSR), cut...

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SBA opens Disaster Loan Awareness Center in Round Rock

by on May 14, 2022 0

Low-interest federal disaster loans are now available for businesses and residents affected by the March 21 tornado in Round Rock after the US Small Business Administration announced a disaster declaration for Williamson County . A Disaster Loan Awareness Center will open at 1 p.m. Monday, May 16 at the Clay Madsen Recreation Center, 1600...

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Coral Springs man sentenced in COVID loan scheme involving former NFL wide receiver • Coral Springs Talk

by on May 7, 2022 0

Joshua Bellamy, former National Football League wide receiver By Kevin Deutsch A Coral Springs man will serve federal prison time for leading a nationwide scheme to fraudulently obtain more than $24 million in COVID-19 Paycheck Protection Program loans – with the help of the former receiver of the National Football League Joshua Bellamy, federal...

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