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Keyword: lending

Brevity: Headers | « Text »
  • Bank of America will no longer lend to companies that make ‘military-style’ weapons

    04/11/2018 5:48:16 AM PDT · by ptsal · 39 replies
    The Washington Times ^ | 04-10-2018 | Victor Morton
    Bank of America officially took sides in America’s gun debate Tuesday, announcing it would no longer make loans to companies that make “military-style” weapons. The second-biggest U.S. bank announced Tuesday that it would drop current loan-customers Vista Outdoors, Remington and Sturm Ruger, and blackball any other manufacturer of assault weapons. Bank of America Vice Chairman Anne Finucanetold Bloomberg TV on Tuesday her bank has told those companies “it’s not our intent to underwrite or finance military-style firearms.” “We have had intense conversations over the last few months,” Ms. Finucane told Bloomberg, a network founded by tycoon and gun-control-financier Michael R....
  • Private Financing for Public Infrastructure

    04/05/2018 1:11:45 AM PDT · by Tolerance Sucks Rocks
    The Lane Report ^ | March 16, 2018 | Greg Paeth
    Six Kentucky community banks that could be competing for business have agreed to work together as charter members of the specialty $150 million Commonwealth Infrastructure Fund to finance public-private partnerships (P3) in Kentucky.In the next few months, CIF is expected to reveal one or more inaugural deals.“We are looking at five to 10 potential projects that should start sometime in 2018. We expect to make loans to two or three projects in 2018 after the underwriting process has been completed,” said John Farris, who manages CIF. “We believe we will lend out all $150 million over three to five years...
  • New American Funding Launches Training Program for Mortgage Professionals

    11/02/2017 12:01:01 PM PDT · by 2ndDivisionVet · 1 replies
    Cision ^ | November 2, 2017
    TUSTIN, Calif., Nov. 2, 2017 /PRNewswire/ -- New American Funding, a leader in the mortgage industry, announced today the launch of its new STEP program, a corporate training curriculum that's designed to prepare people for a career in mortgage banking. STEP, which is Specialized Training Empowering People, is a nationwide program that was developed by the company to equip people for working in every aspect of the industry. STEP provides live weekly online and onsite classes that cover a spectrum of topics ranging from the fundamentals of mortgage banking to compliance education to the specifics about loan products. It's designed...
  • The great highway loot

    06/26/2017 5:32:12 AM PDT · by Tolerance Sucks Rocks · 1 replies
    The Indian Express ^ | June 12, 2017 | Gajendra Haldea
    Though belated, the recent ordinance empowering the Reserve Bank of India to ensure recoveries from wilful defaulters is a step in the right direction. However, a lack of legal authority was never a barrier in the government’s ongoing war against corruption, black money and bad debts. Be that as it may, it is imperative for the government to demonstrate tangible results that would carry conviction with the masses. If only it were to examine the anatomy and modus operandi of national highway projects, it would discover a large-scale plunder of public money waiting to be booked. The usual contractor-engineer-politician troika...
  • Should the United States Abandon the Federal Reserve System?

    03/09/2017 8:07:43 PM PST · by Tolerance Sucks Rocks · 54 replies
    Economics Wire ^ | March 9, 2017 | Viliyana Filipova / Mr. Conrad
    The Federal Reserve gives us the freedom to buy things now that we would otherwise have to wait for.In looking at the Federal Reserve, it is important to note that this is a money system, not just a group of people sitting in a conference room controlling everything having to do with the US dollar. The Fed is a system just like the government of the US is a system. What that means is that no one controls it, and that it is much bigger than any one person or group of people could ever control. They can guide it,...
  • How The Banks Are Tightening The Noose On U.S. Oil Firms

    01/20/2016 12:59:48 PM PST · by SeekAndFind
    Zero Hedge ^ | 01/20/2016 | Tyler Durden
    Two weeks ago, we reported that even as U.S. lenders were professing to their investors that there is no risks with their energy exposure and that they are comfortably reserved for any potential losses, they were reducing their unfunded (and total) exposure to oil and gas exploration companies due to balance sheet, default and contagion concerns.We showed a list 25 deeply distressed companies, whose banks we found have quietly shrunk the borrowing base of their credit facilities anywhere from 6% in the case of Black Ridge Oil and Gas to a whopping 51% for soon to be insolvent New...
  • Lessons Not Learned: The Push For Easier Home Lending Standards Is Reckless

    06/12/2015 7:06:41 AM PDT · by SeekAndFind · 12 replies
    IBD ^ | 06/12/2015 | Paul Sperry
    In a dangerous deja vu, politicians and lobbyists are pressuring banks to throw open their lending windows for credit-poor people who want to buy homes but may not be able to afford them. Worried about sagging homeownership rates, especially among minorities, the Obama administration seeks to boost homebuying by easing mortgage lending standards — and affordable-housing zealots are egging it on. So are Realtors and brokers hungry for profits. They're all cheering recent moves by Obama regulators to slash down-payment and mortgage insurance requirements for first-time homebuyers at federal agencies that back such mortgages. They also support a plan to...
  • Why Is Fed Considering Paying Banks Not To Lend To Main Street

    07/21/2014 5:39:12 AM PDT · by SeekAndFind · 35 replies
    IBD ^ | 07/21/2014 | Mike Cosgrove
    The Federal Reserve created a monster $4.3 trillion balance sheet, up by $3 trillion from 2008, through quantitative easing. QE ends this fall. Now the Fed is trying to figure out what to do with this monster. Their thinking seems to be that they can maintain control over it by paying banks more money to not make loans. So let's get this right. Households and businesses are attempting to borrow money from banks. But the Federal Reserve may eventually pay banks $100 billion per year not to lend to Main Street. Politicians will have a field day with that. The...
  • Obamaloans

    01/15/2014 2:30:47 PM PST · by grimalkin · 7 replies
    NATIONAL REVIEW ONLINE ^ | 1/15/2014 | Iain Murray
    We know the pattern by now. A crisis arises. As my Competitive Enterprise Institute colleague Chris Horner puts it, this administration says, “There’s no time to waste, we must do something now, sign here, details to follow.” And every time, we discover that we have signed up for more than we bargained for. That was the case with the Dodd-Frank Act, passed in 2010 supposedly to solve the problems that caused the financial crisis. Only now are we seeing the details to follow. They amount to a government takeover of the financial industry and increased government control over our behavior,...
  • Obama's 'Operation Choke Point' Seeks to Destroy Sectors of Private Lending Industry

    01/09/2014 9:55:48 AM PST · by Sir Napsalot · 16 replies
    Breibart - Big Government ^ | 1-8-2014 | Michael Patrick Leahy
    Breitbart News has learned that in 2013 the Obama administration launched an under-the-radar project, 'Operation Choke Point,' which is designed to destroy three sectors of the private lending industry: third party payment processors ("TPPPs"), payday lenders, and online lenders. The operation is headed by political operatives and career bureaucrats at the Department of Justice, the FDIC, and the new Consumer Financial Protection Bureau ("CFPB"). It appears to be the latest example of the Obama administration's successful efforts to weaponize the apparatus of the federal government against people and industries it opposes ideologically. According to the Wall Street Journal, the federal...
  • Ranieri Says Tight Mortgage Lending May Be Worse Than Crisis (How About Borrowers??)

    10/28/2013 10:44:52 AM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 10/28/2013 | Anthony B. Sanders
    Mortgage-backed securities legend Lew Ranieri made an impassioned plea for regulations to loosen credit standards on home loans at the Mortgage Bankers Association (MBA) annual conference in Washington D.C. The U.S. mortgage market has experienced an “irrational restriction” of credit as lenders and regulators overreact to the loose lending during the bubble that burst in 2007, mortgage-bond pioneer Lewis Ranieri said. mtgvol1998 “If this legacy persists the consequences will be more profound for the country than the economic losses” caused by the bust, Ranieri said today at an annual conference hosted by the Mortgage Bankers Association in Washington. Ranieri, the...
  • Treasury Plans To Downgrade Mortgage Servicers – 2 Million Helped Isn’t Enough! (Really?)

    09/10/2013 12:45:11 PM PDT · by whitedog57
    Confounded Interest ^ | 09/10/2013 | Anthony B. Sanders
    Late this week, Treasury will report on the performance of servicers in delivering Making Home Affordable (MHA) programs. I understand Treasury will drop everyone’s ratings and do so with little explanation other than that they moved the bar to make required levels more stringent because too many servicers were hitting their highest rating. You know, its like telling Peyton Manning that throwing 7 touchdowns in the game against the Baltimore Ravens wasn’t good enough. He should have thrown 10 TDs! Treasury can continue to raise the bar on servicers and lead people to believe the servicers aren’t doing what is...
  • “Great Leap Forward” in Home Ownership Back Where It Started (Blacks Worse Off)

    08/31/2013 9:04:14 AM PDT · by whitedog57 · 5 replies
    Confounded Interest ^ | 08/31/2013 | Anthony B. Sanders
    Between Jimmy Carter’s Community Reinvestment Act (CRA) and Bill Clinton’s National Homeownership Strategy (NHS), government encouraged lenders make risky loans, homeownership rates are back where they started in 1996. nhsdream2 The goal of Fannie Mae was a 70% homeownership rate. They almost achieved their goal — they got to 69% in 2004. USHOWN_Max_630_378 The home ownership rate increase corresponded with an almost two-fold increase in the GSE affordable housing goals after the National Homeowhership Strategy was declared in 1995. affordgoals Of course, this “great leap forward” in home ownership was not sustainable. The racial makeup of home ownership shows a...
  • Mortgage Market Shrinking? Wells and Citi Reduce Mortgage Units as Rates Rise

    07/22/2013 2:36:10 PM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 07/22/2013 | Anthony B. Sanders
    I was on Fox Business with Connell McShane and Dagen McDowell talking about the low homeownership rates for Millenials. I mentioned that mortgage rates are expected to rise, hindering a housing recovery. On that note, Kate Berry at American Banker wrote today about the shrinking of mortgage units at lenders. “Wells Fargo (WFC) and Citigroup (NYSE:C) are laying off hundreds of employees at their mortgage units, one of the most tangible signs yet of the falloff in refinancings and the painful shift underway in the mortgage market.” In the latest Mortgage Bankers survey, mortgage purchase applications remain in a rut...
  • The Federal Reserve Is Paying Banks NOT To Lend 1.8 Trillion Dollars To The American People

    07/01/2013 5:51:32 PM PDT · by lbryce · 19 replies
    The Economic Collapse ^ | July 1, 2013 | Michael Snyder
    Did you know that U.S. banks have more than 1.8 trillion dollars parked at the Federal Reserve and that the Fed is actually paying them not to lend that money to us? We were always told that the goal of quantitative easing was to "help the economy", but the truth is that the vast majority of the money that the Fed has created through quantitative easing has not even gotten into the system. Instead, most of it is sitting at the Fed slowly earning interest for the bankers. Back in October 2008, just as the last financial crisis was starting,...
  • Two Of China's Biggest Banks Have Stopped Lending At Some Of Their Branches

    06/26/2013 8:51:46 AM PDT · by blam · 5 replies
    Business Insider ^ | 6-26-2013 | Mamta Badkar
    Two Of China's Biggest Banks Have Stopped Lending At Some Of Their Branches Mamta BadkarJune 26,2013 Branches of Bank of China and the Industrial and Commercial Bank of China (ICBC) have stopped lending amid the country's current liquidity squeeze, according to Caixin Online. The two banks, are part of the country's Big Four. Bank of China was reportedly having a hard time meeting loan-to-deposit requirements before the liquidity squeeze and it plans to resume lending on July 15. Meanwhile, ICBC's headquarters set a cap on lending, but what was unusual was that "headquarters had cut down on the quotas to...
  • Rent-a-tire Business is Inflating

    06/11/2013 6:35:10 PM PDT · by nascarnation · 29 replies
    Autoblog ^ | June 11, 2013 | Zach Bowman
    The Los Angeles Times is reporting that America's tire rental business is growing. Companies that previously specialized in rent-to-own wheels are now shifting their business to provide low-income drivers with rent-to-own tires. Customers can pay as little as $14 per month for new rubber, but may wind up paying as much as four times the retail price by the time all's said and done. While the first rent-to-own wheel and tire dealer surfaced in the mid '90s, the business has been expanding.
  • Radio Talk Show Host Charged with Mortgage Fraud (Chicago Raised Community Activist, BHO Sychophant)

    02/13/2013 6:58:14 PM PST · by DogByte6RER · 9 replies
    Mortgage Fraud Blog ^ | Thursday, 07 February 2013 | Rachel Dollar
    Radio Talk Show Host Charged with Mortgage Fraud Warren Ballentine, 41, Durham, North Carolina, and formerly of Country Club Hills, Illinois, a lawyer who hosts a national radio talk show, was indicted on federal charges for allegedly engaging in two mortgage fraud schemes that defrauded lenders of a total of approximately $9.7 million. The defendant allegedly schemed with others to obtain more than two dozen fraudulent mortgage loans and represented buyers at multiple closings, knowing that they were fraudulently qualified for loans to purchase homes in Chicago, Illinois, and various southern suburbs. Ballentine owns the Law Office of Warren Ballentine,...
  • New mortgage lending rules to limit loan options [Obama's Plan: LESS FREEDOM FOR CONSUMER]

    01/10/2013 5:49:59 AM PST · by SoFloFreeper · 27 replies
    Chicago Tribune ^ | 1/10/13 | Mary Ellen Podmolik
    The Consumer Financial Protection Bureau is planning a Thursday morning announcement of new lending rules that it hopes will move the mortgage market toward a sustainable middle ground, somewhere in between the free-wheeling days of no-documentation loans and the current, restrictive environment. For most borrowers, the rules will mean no more interest-only mortgages, no more loans where the principal due increases over time, no more loans that carry a balloon payment and no more loan terms of more than 30 years. In addition, would-be borrowers will be less likely to qualify for a mortgage unless their total debts account for...
  • Flashback 1999: Fannie Mae Eases Credit To Aid Mortgage Lending(Bailout-Bill Clinton's Real Legacy)

    09/06/2012 3:18:00 AM PDT · by Son House · 30 replies
    New York Times ^ | September 30, 1999 | STEVEN A. HOLMES
    The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in...