sheet business – BAYD http://bayd.info/ Fri, 14 Jan 2022 18:03:10 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://bayd.info/wp-content/uploads/2021/10/icon-120x120.jpg sheet business – BAYD http://bayd.info/ 32 32 $300 loans offer a lifeline – and an apprenticeship – for students – archyde https://bayd.info/300-loans-offer-a-lifeline-and-an-apprenticeship-for-students-archyde/ Fri, 14 Jan 2022 18:03:10 +0000 https://bayd.info/300-loans-offer-a-lifeline-and-an-apprenticeship-for-students-archyde/ Quick loans from the UAB Regional Institute for Financial Education are available in as little as 24 hours. They can help any Blazer student who experiences an unexpected loss of income, housing or medical issues, or a transportation emergency. Written by: Matt Windsor Media contact: Savannah Koplon Any UAB student can apply for a microcredit. […]]]>

Quick loans from the UAB Regional Institute for Financial Education are available in as little as 24 hours. They can help any Blazer student who experiences an unexpected loss of income, housing or medical issues, or a transportation emergency.

Written by: Matt Windsor
Media contact: Savannah Koplon

Any UAB student can apply for a microcredit. “We strive to make it as quick and painless as possible,” said Stephanie Yates, Ph.D., the program’s creator.The microcredits of University of Alabama at Birmingham‘s Regions Institute for Financial Education, or RIFE, helps any Blazer student with a tire fix, rent, or other emergency – with money available in as little as 24 hours and no interest charged if repaid within 90 days.

Get out of the spiral

More and more students are struggling financially, says Stephanie Yates, Ph.D., director of the institute and creator of the program. Something as small as a flat tire can quickly lead to an exit from school.

“Your car breaks down on the way to school, so you miss class,” Yates said. “You can’t get to work, so you miss shifts and all of a sudden you can’t pay rent. Everything adds up. We thought, “If we could find a way to help a student get this tire, it would prevent all these other things.”

Yates spoke with Collat ​​Business School He and Dean Eric Jack, Ph.D., suggested a source of funding: a $25,000 prize pool originally created to help students after the deadly tornadoes of 2011. Yates students helped create the rules of the microcredit program:

  • Give the money to those who need it most,
  • Maintain a reserve so that emergency needs can always be met, and
  • Have the possibility of making non-emergency loans.

Priority is given to real emergencies, in particular:

  • loss of income
  • transportation problems
  • housing problems or difficult living situations
  • medical fees

“It’s very helpful for students who have a gap between the start of the semester and when their financial aid arrives,” Yates said. “By far the majority of loans are repaid within 90 days and very few students have paid interest. It’s not a trap.

The interest rate is 6%, starting on day 91. In fact, the goal is to offer an alternative to payday loans, title loans and pawnbrokers.

Experimental learning

Members of the student-run Green & Gold Fund have written an investment policy to help the fund’s capital grow while protecting it. They also sit on the loan committee (all identifying information about other students is removed).

The goal is to “continue to have this resource for a long time to come,” said Jackie Dang, a finance major and member of the Green & Gold Fund who is RIFE’s portfolio manager. “It has been an enriching experience to know that I am part of an organization that does everything possible to help UAB students.”

This is open to all UAB students. Any UAB student can apply for a microcredit, Yates said, “We strive to make it as quick and painless as possible.”

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Brainard vows to help fight inflation as No. 2 Fed official https://bayd.info/brainard-vows-to-help-fight-inflation-as-no-2-fed-official/ Wed, 12 Jan 2022 23:45:37 +0000 https://bayd.info/brainard-vows-to-help-fight-inflation-as-no-2-fed-official/ WASHINGTON (AP) — Lael Brainard pledged in written remarks Wednesday to help the Federal Reserve fight a spike in inflation while supporting economic recovery — a delicate balancing act it would face if it were confirmed as Fed No. 2 official. Brainard, a member of the central bank’s board of governors, was named vice president […]]]>

WASHINGTON (AP) — Lael Brainard pledged in written remarks Wednesday to help the Federal Reserve fight a spike in inflation while supporting economic recovery — a delicate balancing act it would face if it were confirmed as Fed No. 2 official.

Brainard, a member of the central bank’s board of governors, was named vice president in late November by President Joe Biden, the same day Biden nominated Jerome Powell for a second four-year term as president. As Fed governor since 2014, Brainard has voted on the central bank’s interest rate decisions at its eight policymaking meetings each year, as well as on its financial regulatory policies.

“Our monetary policy is aimed at getting inflation back to 2% while maintaining a recovery that includes everyone,” Brainard said in remarks prepared to be delivered Thursday to the Senate Banking Committee, which is expected to back his nomination in the coming months. weeks before the entire Senate confirms it. “This is our most important task.”

Brainard’s elevation of the fight against inflation as the Fed’s primary objective is remarkable given that she is, for now, the only Democrat on the Fed’s board of directors and that she is seen as more inclined to keep interest rates low to boost jobs than many other Fed officials. Biden is expected to name three more people soon to fill vacancies on the board.

On Wednesday, the government announced that inflation had reached 7% in December from a year earlier, the biggest such increase in four decades. Brainard will be questioned by senators on how the Fed will rein in rising prices, as Powell did during his own Senate confirmation hearing on Tuesday. The Fed is tasked by Congress with maintaining price stability and promoting “maximum employment”.

In his testimony, Powell promised that the Fed would accelerate its planned interest rate hikes, if necessary, to rein in high inflation. The Fed has kept its short-term benchmark rate close to zero since March 2020, when the pandemic plunged the economy into a deep recession. Fed officials have predicted they will hike rates three times this year, while many economists are eyeing four hikes. The rate increases, which in turn increase borrowing costs for many consumer and business loans, are aimed at cooling the economy, slowing hiring and reducing inflation.

Powell’s – and Brainard’s – challenge this year is to strike the right balance between fighting inflation and supporting the economy. If the Fed raises rates too slowly, inflation could pick up further and force it to take more drastic measures later to bring it under control, which could trigger a recession. Yet if the Fed raised rates too quickly, it could trigger this recession sooner and perhaps unnecessarily.

In Tuesday’s testimony, Powell sought to link the Fed’s two mandates of low inflation and maximum employment. He said high inflation, if it took hold, could force the Fed to tighten credit law so aggressively that employers would cut jobs.

“Achieving maximum employment, by which we really mean continued progress in hiring and participation, will require price stability,” Powell said.

In the jockey that took place between Democrats before Biden chose Powell for a second term as Fed chairman, Brainard was the preferred alternative to Powell among many progressives. One reason is that she supported tougher financial regulations than Powell. Over the past four years, she has cast 20 dissenting votes against changes to the financial rules. In March 2020, for example, Brainard opposed a regulatory change it said would reduce the amount of reserves big banks were required to hold to guard against losses.

She also spoke more forcefully than Powell about ways the Fed can deal with global warming.

Many environmental groups say loans to oil and gas companies, as well as commercial real estate developers, could default and lead to major losses for banks, if environmental damage worsens.

“Climate change,” Brainard said, “is expected to have profound effects on the economy and the financial system, and it is already causing damage.”

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Instant Bitcoin: My First 30 Days on Lightning https://bayd.info/instant-bitcoin-my-first-30-days-on-lightning/ Tue, 11 Jan 2022 00:30:00 +0000 https://bayd.info/instant-bitcoin-my-first-30-days-on-lightning/ Instant Bitcoin: My First 30 Days on Lightning This is a journal of my experience with Lightning that will be useful to anyone new to Bitcoin or Lightning. As a warning, there are a lot more ways to do things than I have shown here. There is a whole range of products and solutions for […]]]>

Instant Bitcoin: My First 30 Days on Lightning

This is a journal of my experience with Lightning that will be useful to anyone new to Bitcoin or Lightning. As a warning, there are a lot more ways to do things than I have shown here. There is a whole range of products and solutions for getting started, some more complicated than others. While there are certain standards and best practices for using Bitcoin and Lightning, the only way to improve is to jump where you feel comfortable and learn a lot as you go.

Before diving in, it’s good to understand the difference between Bitcoin Layer 1 and Lightning, which is why Lightning exists, its own tradeoffs, and special considerations. This article is specifically about using Lightning channels. Effective channel management can be a burrow in itself, but before we can understand its meaning, let’s establish a few key concepts.

  • Read and contribute to PlebNet resources and discussions.
  • Being a node operator will come with an initial investment, but will pay dividends in terms of knowledge and experience. Think long term.
  • For routing, focus on peer selection, availability and liquidity management.

Note that you don’t have to be a big routing node to reap the benefits of Lightning. Merchants can accept Lightning payments for their business, and as an end user, you can make Lightning Fast Payments on your own terms, and that alone is reason enough to run a node.

I am using a Raspberry Pi with one of the well known node starter packages. One thing I didn’t know before joining PlebNet was the importance of having uninterruptible power or battery backup – and it’s a must to avoid outages.

My main Lightning tools so far have been ThunderHub and Balance of Satoshis (BOS). I was also a complete linux novice, and so if you’re at all inclined I recommend learning the basics of the linux command line as it really helps to understand what’s going on under the hood when you click. on a sophisticated user interface.

My first channel was a small channel with a capacity of 150,000 sats, as I had to access the network chart first, which helped me open a channel and watch the funds move. My first Lightning payment seemed magical to me.

I started to open larger channels and was careful to select peers I trusted – trusted in the sense that I took the time to qualify their reputation in the community. My peers have a reputation for being honest Bitcoiners as well as proficient node runners. Yes, Lightning is designed to minimize trust, so you should be able to connect with strangers. However, I want to reduce the risk of costly scenarios and downtime due to poor node management by uncontrolled peers.

A routing node requires both inbound and outbound liquidity. One way to acquire inputs is to do what is called an output loop. In the beginning, I looped the channels one by one in order to balance the liquidity. I did this at my expense so as not to disturb my distribution partner.

I learned later after reading the Voltage series on Routing Nodes at blog.voltage.cloud that a better way to start is to open as many outgoing channels as possible and loop multiple channels at the same time. The Lightning Terminal has it all for you. I did a loop of several million sats at a time, and will say it made my heart beat momentarily. Usually I try to move coins in smaller quantities, that way not all of your funds are tied up at the same time.

I also used my own Strike wallet to do loops, but since the sats arrive as dollars on the Strike app, I suffered a foreign exchange fee by having to convert back to bitcoin. In either case, the cost of looping is still remarkably low – around 20 to 30 basis points.

Note that I have chosen to loop the funds of the channel in order to create a balanced liquidity profile of the node. This service comes at a cost, so in the future I plan to do free cash exchanges and just add or remove channels as needed. Loopback is useful in the beginning to prime liquidity, but otherwise it does not need to be done for each channel. Plus, you can still buy inbound channels and skip the technical details.

I had nine or 10 channels open when I saw my first before pass and I was ecstatic. I set my fees to be low enough but sufficient to potentially recoup the channel costs if all funds were transferred at the same time (see c-otto.de for a more detailed discussion of fees). While my goal is to get a low maintenance node with organic flow, I certainly noticed that the transfers were mostly one way via a small number of routes. This is where rebalancing and adjusting fees is important.

During the first 30 days, the node had 26 forwarding events at an average of 144 ppm, which was 60% of the node’s local liquidity. The payouts were only 1,300 sats – not a lot, but hey, it’s satisfying nonetheless.

At a high level, the costs include the chain fees, routing fees, and service fees related to Lightning, not to mention the cost of the hardware. The cost of the channel fee includes not only channel openings / closings, but also deposits and withdrawals to the Lightning wallet. A lot of the routing fees paid come from performing the loops, and the routing fees can rack up the more sats you need to move. I also made two payments to a few friends on my node which resulted in a routing charge. I started a spreadsheet to help track expenses in each category. This reconciles the balances that the node displays on the screen. Records show that I paid around 29,000 sats out of my pocket after opening and looping the whole chain. Specifically, BOS tells me that I spent around 4000 sats on chain fees and over 25000 on routing fees.

It is difficult to be exact because I had to try to account for the sats eaten by the exchange costs. There was also some initial confusion around commitment fees and channel reserves which are funds you own but are not reflected in the available channel balance. It is essential that you get used to doing bitcoin bookkeeping, although the order of precision is a personal choice.

In comparison, I paid a lot more sats to get my channels up and running than I earned in routing costs. But keep in mind that the cost of building up liquidity should be a one-time cost. Not only that, but a channel’s funds can come and go endlessly, allowing a channel to carry many multiples of its capacity over the life of the channel. I would say 25,000 sats were well worth the investment in education.

My goal for the next month is to increase node capacity by 20% and achieve positive net profits. Looking ahead, here are some other areas of focus:

  • Explore batch channel opening and channel financing from cold storage.
  • How can using multiple Lightning Network portfolios or nodes make it easier to manage cash flow?
  • Experiment with automated channel management tools.
  • Improve security, reliability and availability.

For help, don’t hesitate to ask questions; the plebs and I’ll be happy to help!

This is a guest post by Tyler Parks. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

Have

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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What is Instant Loans https://bayd.info/what-is-instant-loans/ Wed, 08 Dec 2021 00:08:16 +0000 https://bayd.info/0-55-of-eps-expected-for-investar-holding-co-nasdaq-istr-this-quarter/ What exactly do you mean by “instant loans”? Everything you need to know When you need money quickly and don’t have good credit, a quick loan may seem like a good option. You’ll be able to get cash quickly to pay for unexpected expenses like a car repair or medical bill after just a few […]]]>

What exactly do you mean by “instant loans”? Everything you need to know

When you need money quickly and don’t have good credit, a quick loan may seem like a good option. You’ll be able to get cash quickly to pay for unexpected expenses like a car repair or medical bill after just a few days of being approved for an immediate loan often on the same day. Visit Citrust North to learn more and apply instantly with citrus.

What exactly is an instant cash loan?

An instant loan is a type of loan that is typically for a small amount of money and comes with the highest interest rates and charges. There are several types of instant loans, and some go by different names. The following are examples of instant loans:

Payday advances. A cash advance is another term for it. A payday loan requires no collateral and can provide cash on the same day. The borrower must repay the loan – along with the high interest charges – in the following pay period.

The loan from a pawnshop. A pawn shop loan, also known as a pawn loan, is a secured loan. The pawn shop keeps an item you have as collateral for the loan. You are offered a loan for the object in amounts less than the value of the collateral. If you do not repay the loan by the due date, the pawnshop may repossess the item.

A vehicle title loan. The loans, also known as pink slip loans, are secured by the title to your vehicle. You will still be able to drive your vehicle, but you must be able to repay the loan in full, including interest and fees, before the deadline. If you do not pay it on time, you risk losing your vehicle.

Whatever type of instant cash loan you’re looking at or how the lender refers to it, an instant loan is a high-risk borrowing option.

Do instant cash loans work?

Payday loans are a popular fast loan option, with Pew Charitable Trusts reporting that 12 million people in the United States use them each year. In-the-moment loans are usually for $500 or less. The interest rate on these loans can be extremely high, and is frequently expressed in percentages or dollars for every $100 borrowed. For example, there is a 15% charge for every $100 spent. Fees vary by state, and each state establishes its own fee limit.

If you’re considering this method of borrowing, here’s how it works:

Send a loan application right away. Payday loans are typically not required to submit a credit bureau approval. You must still provide your personal information, be 18 years old, have a valid ID, provide proof of income (e.g., an income tax return or pay stub), and have a bank account. Depending on where you live, you may be able to find a lender on the internet or at a cash advance center.

Make certain that you provide a postdated cheque as well as ACH authorization. You must send the bank a postdated cheque with the loan due date written on it. The check will include the amount borrowed as well as interest. If you choose to complete the instant loan procedure online, the lender may require your bank account’s ACH (Automated Clearing House) authorization.

Get your loan funds. The lender will pay the loan amount (excluding fees) in one lump sum of cash. If you apply for an instant online loan, the loan amount may be directly transferred to your account if you have granted the lender access.

Make sure you pay off the loan in full when it’s due. Payday loans typically have a repayment period of two weeks or until your next pay check arrives. The exact time frame varies by lender and is determined by the terms of the loan contract. When the loan is due to be repaid, you will pay the loan amount plus fees and receive your postdated check.

If you are unable to repay the loan on time, some payday lenders will allow you to roll it over until a later date. Certain states do not allow rollovers, and the option has a cost.

Is it a good idea to take out instant loans?

In most cases, quick payday loans are not a good idea to avoid whenever possible. According to the St. Louis Federal Reserve, the average payday loan interest rate is 391 percent for the first two weeks. It’s easy to lose track of how much money you’re wasting on expenses.

Paying an additional $60 late fee, for example, is feasible if it results in a loan of $400 in cash today. Don’t think of the rollover service that some lenders offer as a lifeline.

Similarly to the previous example, a two-week rollover extension of your payment could cost you $60 in addition to the $460 principal amount and charges you already owe. You will now have to pay $120 in order to receive $400 in four weeks.

According to the Consumer Financial Protection Bureau, more than 80% of borrowers can roll over their loans for payday or take out another loan within the next 14 days. If your finances were not as tight at the start, it may be difficult to pay off the loan and tempting to make more rollovers as fees rise.

If your loan is in default, creditors have the right to file a complaint with credit bureaus, and your credit may suffer as a result. Debt collectors may even sue you in order to recover unpaid funds. Your wages could be taken away if the court rules in their favor.

Alternatives to immediate cash

Consider the possibility of having exhausted all options before deciding on an immediate loan. Here are some ideas to consider:

  • You can work out a payment plan with your employer. Contact your servicer or creditor to discuss your financial situation and see if they can offer you lower payments.
  • Personal loans for people with bad credit. While the interest rates on this type of loan are high, they are significantly lower than the rates on payday loans. Furthermore, many personal loans have longer repayment terms.
  • Family and close friends Ask trustworthy family members and close acquaintances if they would be willing to provide you with a short-term loan. Make sure you’re both on the same page when it comes to the amount of interest and repayment.
  • Make contact with a non-profit credit counselor. If you’re looking for a long-term solution, talk to a non-profit credit counseling organization like the National Foundation for Credit Counseling. They can help you create a debt management strategy to ensure you are prepared for unexpected expenses.

Steps to follow

They are not the best option when a large sum of money is at stake. Consider your options before committing to excessive costs with a payday loan if you are able.

If you believe that an immediate loan is your only option, make sure to research your state’s payday loan regulations. To discourage the use of predatory lending practices, states are required to set maximum loan amounts, fee and rollover restrictions, and other conditions on payday lenders.

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Reverse Mortgage Industry Boosted By Raising Loan Limit In 2022 https://bayd.info/reverse-mortgage-industry-boosted-by-raising-loan-limit-in-2022/ Tue, 07 Dec 2021 21:39:15 +0000 https://bayd.info/reverse-mortgage-industry-boosted-by-raising-loan-limit-in-2022/ Last week, the Federal Housing Administration (FHA) released a Letter to Mortgage Creditors (ML) containing long-awaited news from the reverse mortgage industry: The loan limit for federally guaranteed reverse mortgages increases for the sixth year in a row, and is expected to reach $ 970,800. in 2022. The new Maximum Claim Amount (MCA) for FHA […]]]>

Last week, the Federal Housing Administration (FHA) released a Letter to Mortgage Creditors (ML) containing long-awaited news from the reverse mortgage industry: The loan limit for federally guaranteed reverse mortgages increases for the sixth year in a row, and is expected to reach $ 970,800. in 2022. The new Maximum Claim Amount (MCA) for FHA Insured Home Equity Conversion Mortgages (HECMs) is a pronounced increase of nearly $ 150,000 from the observed increase in the loan limit. 2021 of $ 822,375.

The figure is in line with the higher conforming loan limit announced by the FHFA earlier on the same day the new HECM limit was announced, and is calculated at 150% of Freddie Mac’s national conforming limit of $ 647,200.

To gauge the reverse mortgage industry’s reaction to the news, RMD reached out to the reverse mortgage industry association, lenders across the country, and a brokerage dealing with higher value homes to share their thoughts. thoughts on what a loan limit of almost $ 1 million could mean. for the business and its ability to serve borrowers in the coming year.

Association response

For the National Reverse Mortgage Lenders Association (NRMLA), the new limits are seen as a recent welcome adjustment to the HECM program by the FHA according to Steve Irwin, president of the association. Considering current data indicating that senior housing wealth exceeds the collective $ 9.5 trillion, this only underscores the role housing wealth should play in a comprehensive retirement plan, says Irwin.

On top of that, the existence of a national loan limit – resulting from the efforts of the NRMLA – is a critical component of the reverse mortgage business today, says Irwin.

President of NRMLA, Steve Irwin

“Adjusting the HECM national loan limits will allow senior homeowners to strategically leverage the accumulated equity in their home as part of their retirement planning,” he says. “It is important to note that the single national loan limit for HECM (as opposed to the zone-by-zone limits) is something that exists due to the advocacy efforts of the NRMLA. The NRMLA was successful in persuading Congress and senior HUD officials that the area boundaries used for term mortgages didn’t really make sense to HECMs.

Area-specific loan limits make more sense to consumers looking to buy a home in their specific area, but an HECM has fundamentally different guiding principles, says Irwin.

“[A] HECM is used to help an owner withdraw money from their accumulated equity to age in place, ”he says. “The costs of aging, prescription drugs, durable medical equipment, adapting a house with stair rails, etc., do not differ by region. Thus, a homeowner with a higher value property in an area with a low FHA loan limit should not be penalized by only being able to borrow on the basis of [their area’s] term mortgage credit limit.

Lender Outlook on the reverse mortgage limit

The ability of the reverse mortgage industry to provide different choices to its borrowers was bolstered by the announcement of the new HECM MCA, according to Joe DeMarkey, head of strategic business development at Reverse Mortgage Funding, LLC (RMF).

“The evolution of reverse mortgage product development has given consumers the ability to compare prices for the product that best meets their needs. Having more choice in the reverse mortgage market is great for consumers, and this new HECM loan limit opens up even more options, ”DeMarkey said. “With this change, in 2022, more homeowners could qualify for HECM than in 2021.”

The increased limit is good news for loan officers and for some existing borrowers who may qualify for additional proceeds through a refinance transaction. Therefore, it is also possible that the new limit will continue to fuel HECM refinancing activity at HECM in the new year, he adds.

Optimism about the new limit is also shared by Finance of America Reverse (FAR), according to Field Retail vice president and chief government relations officer Scott Norman.

“Given the related increase in compliant loan limits, this is an expected but encouraging development for the HECM space as a whole and will increase the potential for additional HECM borrowers to have more and better opportunities.” to age in place and thrive in their homes, “Norman told RMD.” With this drastic increase in credit limits over the past five years, we’ve seen a new booming segment of borrowers considering to leverage their home equity and get a reverse mortgage as part of their overall retirement plan. ”

Industry growth potential from the new limits is widely seen as a feather in the HECM program cap for 2022 from the perspective of Bruce Barnes, the recently appointed general manager of the reverse mortgages division at Cherry Creek Mortgage. .

“Increasing the loan limit is a great opportunity for our term and reverse mortgage channels to work together to help more seniors,” Barnes told RMD. “Cherry Creek’s distribution platform is really well positioned to help grow the reverse mortgage market with these increases. “

Few lenders have chosen to discuss the potential impact that a loan limit of nearly $ 1 million will have on any exclusive reverse mortgage business they are engaged in, but for Barnes and Cherry Creek the news limit should not have a significant impact on its proprietary activities.

“I don’t think it really cuts into ownership,” Barnes said. “The average loan size for homeowners is around a million dollars. So having a maximum claim of $ 970,800 won’t really have an impact on this market. “

Broker activity, estate loans

However, for at least one broker, who primarily operates in areas with higher value homes, proprietary loans have become a significant part of origination volume. This is the case with the C2 Reverse division of C2 Financial, according to its national director Scott Harmes.

Scott harmes

“We have found that for many borrowers it is important to present both HECM and jumbo options because HECMs have lower rates, but jumbos are much cheaper at close,” Harmes told RMD . “At the 2021 FHA loan limit of $ 822,375, we found that for all homeowners valued at approximately $ 900,000 to $ 1,000,000, an analysis showing both the HECM and jumbo options was warranted. . With the 2022 FHA loan limit at $ 970,800, this will shift that range of values ​​for our “HECM + Jumbo Options Review” up to $ 1,050,000 to $ 1,200,000. “

The higher limit on the HECM side and the continued development and evolution of proprietary products make this a segment of borrowers that can benefit from both events simultaneously in the case of C2, says Harmes.

“The significant increase in home values ​​over the past few years and the impact of the pandemic, [have made] aging in place is a more common and important priority, ”says Hermes. “This increase in the FHA 2022 loan limit and the continued maturation of the exclusive selection of reverse programs offer senior homeowners the opportunity to leverage their home equity for a more stable retirement than ever before.”

Look for additional insight on increasing the HECM loan limit of industry participants on RMD in the coming days. Read LM 2021-29 for the official document raising the HECM 2022 loan limit.

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Allegiance Bancshares (NASDAQ: ABTX) Demoted by Zacks Investment Research to “Sell” https://bayd.info/allegiance-bancshares-nasdaq-abtx-demoted-by-zacks-investment-research-to-sell/ Tue, 07 Dec 2021 21:34:16 +0000 https://bayd.info/allegiance-bancshares-nasdaq-abtx-demoted-by-zacks-investment-research-to-sell/ Bancshares Allegiance (NASDAQ: ABTX) has been downgraded from Zacks investment research from a “keep” note to a “sell” note in a research note published on Tuesday, Zacks.com reports. According to Zacks, “Allegiance Bancshares, Inc. operates like a bank holding company. The company provides banking products and services primarily to small and medium-sized businesses and individuals […]]]>

Bancshares Allegiance (NASDAQ: ABTX) has been downgraded from Zacks investment research from a “keep” note to a “sell” note in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Allegiance Bancshares, Inc. operates like a bank holding company. The company provides banking products and services primarily to small and medium-sized businesses and individuals through its subsidiaries. It offers checking accounts, savings accounts, certificates of deposit, bank by mail, cashier’s checks, travelers’ checks, gift cards, savings certificates, personal loans, auto loans, business loans, mortgages, home improvement loans, online banking, safes and ATMs. , Inc. is headquartered in Houston, Texas. “

Allegiance Bancshares Actions traded at $ 0.34 during trading hours on Tuesday, reaching $ 40.70. 3,747 shares of the stock traded for an average volume of 64,427. The company’s 50-day moving average price is $ 40.60 and its 200-day moving average price is $ 38.77. The stock has a market cap of $ 824.05 million, a price-to-earnings ratio of 10.97 and a beta of 1.00. Allegiance Bancshares has a one-year minimum at $ 32.45 and a one-year maximum at $ 45.91.

Allegiance Bancshares (NASDAQ: ABTX) last released its quarterly results on Wednesday, October 27. The bank reported earnings of $ 0.93 per share for the quarter, missing Thomson Reuters’ consensus estimate of $ 1.00 ($ 0.07). Allegiance Bancshares generated a net margin of 29.13% and a return on equity of 9.78%. During the same period of the previous year, the company posted $ 0.79 in EPS. Sell-side analysts expect Allegiance Bancshares to post earnings per share of 3.95 for the current year.

(A d)

As Washington prepares to strike America with record spending. Worried investors are looking for a way to protect their wealth. Many are looking to invest in gold bullion, bullion and coins. However, this “Backdoor Gold Play” pumps twice as many gold returns …

Institutional investors and hedge funds have recently changed their holdings in the company. Cubist Systematic Strategies LLC purchased a new equity stake in Allegiance Bancshares in the first quarter valued at approximately $ 225,000. DE Shaw & Co. Inc. acquired a new position in Allegiance Bancshares during the first quarter valued at approximately $ 232,000. Sheets Smith Wealth Management purchased a new position in Allegiance Bancshares during the second quarter valued at approximately $ 220,000. Bank of Montreal Can increased its position in Allegiance Bancshares by 33.3% during the second quarter. Bank of Montreal Can now owns 5,982 shares of the bank valued at $ 237,000 after purchasing an additional 1,493 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY strengthened its position in Allegiance Bancshares by 108,600.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 6,522 shares of the bank valued at $ 251,000 after purchasing an additional 6,516 shares in the last quarter. Hedge funds and other institutional investors hold 49.84% of the company’s shares.

Allegiance Bancshares Company Profile

Allegiance Bancshares, Inc. operates as a bank holding company. It provides commercial banking services primarily to small to medium-sized businesses in the greater Houston area and to individuals. The company was founded by George Martinez and Steven F. Retzloff in 2007 and is headquartered in Houston, Texas.

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Should you invest $ 1,000 in Allegiance Bancshares now?

Before you consider Allegiance Bancshares, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of… and Allegiance Bancshares was not on the list.

While Allegiance Bancshares currently has an “N / A” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here

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Northwest Bancshares, Inc. (NASDAQ: NWBI) CFO sells $ 163,468.80 in shares https://bayd.info/northwest-bancshares-inc-nasdaq-nwbi-cfo-sells-163468-80-in-shares/ Tue, 07 Dec 2021 19:23:34 +0000 https://bayd.info/northwest-bancshares-inc-nasdaq-nwbi-cfo-sells-163468-80-in-shares/ Northwest Bancshares, Inc. (NASDAQ: NWBI) CFO William W. Harvey sold 11,520 shares of the company in a trade that took place on Monday, December 6. The shares were sold at an average price of $ 14.19, for a total trade of $ 163,468.80. The sale was disclosed in a legal file with the Securities & […]]]>

Northwest Bancshares, Inc. (NASDAQ: NWBI) CFO William W. Harvey sold 11,520 shares of the company in a trade that took place on Monday, December 6. The shares were sold at an average price of $ 14.19, for a total trade of $ 163,468.80. The sale was disclosed in a legal file with the Securities & Exchange Commission, which can be accessed via this hyperlink.

Actions of NWBI traded at $ 0.22 at midday Tuesday, reaching $ 13.93. 16,377 shares of the company were traded, for an average volume of 604,155. The company has a fifty-day moving average of $ 13.90 and a two-hundred-day moving average of $ 13.58. Northwest Bancshares, Inc. has a twelve-month low of $ 12.11 and a twelve-month high of $ 15.48. The stock has a market cap of $ 1.77 billion, a price-to-earnings ratio of 11.32 and a beta of 0.60. The company has a quick ratio of 0.91, a current ratio of 0.92, and a debt ratio of 0.24.

Northwest Bancshares (NASDAQ: NWBI) last reported its quarterly results on Sunday, October 24. The savings and loan company reported EPS of $ 0.27 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.22 of $ 0.05. Northwest Bancshares had a net margin of 27.70% and a return on equity of 10.36%. The company posted revenue of $ 127.61 million for the quarter, compared to analysts’ estimates of $ 128.23 million. On average, stock analysts predict that Northwest Bancshares, Inc. will post earnings per share of 1.13 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 15. Investors of record on Friday, November 5 received a dividend of $ 0.20 per share. This represents an annualized dividend of $ 0.80 and a dividend yield of 5.74%. The ex-dividend date of this dividend was Thursday, November 4. Northwest Bancshares’ dividend payout ratio is currently 64.00%.

(A d)

Experts predict that the global lithium market will grow by 500%. This is great news for investors because a “sure thing” like this pops up once in a lifetime. And this small-cap company has just taken over what could be one of the largest lithium deposits in the world.

Separately, Zacks investment research upgraded Northwest Bancshares shares from a “strong sell” rating to a “conservation” rating in a research note on Thursday, October 28.

Several hedge funds and other institutional investors have recently bought and sold stocks. Invesco Ltd. increased its holdings in Northwest Bancshares by 30.5% in the 3rd quarter. Invesco Ltd. now owns 3,945,871 shares of the savings and loan company valued at $ 52,401,000 after purchasing an additional 921,659 shares during the period. Vanguard Group Inc. increased its holdings in Northwest Bancshares by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,577,185 shares of the savings and loan company valued at $ 185,192,000 after purchasing an additional 471,301 shares during the period. Goldman Sachs Group Inc. increased its holdings in Northwest Bancshares by 25.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,621,184 shares of the savings and loan company valued at $ 22,113,000 after purchasing an additional 332,640 shares during the period. Victory Capital Management Inc. increased its holdings in Northwest Bancshares by 69.3% in the 3rd quarter. Victory Capital Management Inc. now owns 619,762 shares of the savings and loan company valued at $ 8,230,000 after purchasing an additional 253,685 shares during the period. Finally, Brandywine Global Investment Management LLC increased its stake in Northwest Bancshares by 135.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 328,448 shares of the savings and loan company valued at $ 4,480,000 after purchasing an additional 188,820 shares during the period. 61.39% of the shares are held by institutional investors and hedge funds.

About Northwest Bancshares

Northwest Bancshares, Inc is a holding company. It offers banking products to individuals and businesses, including employee benefits, investment management services, insurance and trusts. It collects deposits and grants loans secured by various types of collateral, including real estate and other assets.

Featured Article: Why Is Cost of Goods Sold Important?

Insider buys and sells by quarter for Northwest Bancshares (NASDAQ: NWBI)

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Northwest Bancshares now?

Before you consider Northwest Bancshares, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the larger market takes hold of… and Northwest Bancshares was not on the list.

While Northwest Bancshares currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

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How to get out of a reverse car loan https://bayd.info/how-to-get-out-of-a-reverse-car-loan/ Tue, 07 Dec 2021 14:46:27 +0000 https://bayd.info/how-to-get-out-of-a-reverse-car-loan/ When you are upside down on your car loan, you owe more money on your vehicle than it is worth. Small down payments and long loan terms make it easier to put your loan on hold. Consider refinancing your car loan or contributing more money per month to reduce negative equity. Learn more about Personal […]]]>
  • When you are upside down on your car loan, you owe more money on your vehicle than it is worth.
  • Small down payments and long loan terms make it easier to put your loan on hold.
  • Consider refinancing your car loan or contributing more money per month to reduce negative equity.
  • Learn more about Personal Finance Insider loan coverage here.

Since most cars lose value quickly after purchase, you could be upside down on your car loan. Fortunately, there are options to help lift yourself out of this financial burden.

What is a reverse auto loan?

When you are upside down on your car loan, you owe more money on your car than it is worth.

Suppose you took out a $ 20,000 car loan with a term of five years and an interest rate of 5%. However, the value of your car will depreciate as soon as you leave the lot. After two years, you still owe around $ 12,000 on your loan, but your car is only worth $ 10,000. This means that you are upside down, also known as having negative equity, of $ 2,000.

If you want to get rid of your car, you have to pay the lender the negative equity in the vehicle in addition to the amount you sell or trade it for.

Reversing your loan in and of itself is not a bad thing, but it can cause problems if you find yourself in certain situations.

For example, if your car is totaled, your insurance company will only pay the estimated value of your car. If you are upside down on your loan, you will owe the lender your negative equity, which could be thousands of dollars out of your pocket. Or say you want to switch from your current car to another. You will need to pay the amount you owe on top of the trade-in value of your original car to trade it in.

How do reverse loans happen?

Reverse loans are often the result of the terms you choose when you buy your car. Here are some of the most common reasons.

  • Little or no money. Cars lose a percentage of their value almost immediately when you leave them, and if you don’t put down a down payment, you can instantly lose your loan. Without the money, you will also end up financing the taxes, license, registration, and dealership fees, which will add to the total cost of the loan and already leave you more than the value of the car.
  • Long term loans. Dealerships may offer terms of up to eight years, but your payments might not be able to keep up with depreciation. The longer the term, the more money you will pay in interest. Keep in mind, however, that shorter terms come with higher monthly payments.
  • Overpriced cars. Do your research on similar makes and models and shop around to find the best deal possible. If you jump on the first offer you find, it could end up costing you thousands of dollars in the long run and speeding up your loan reversal.
  • Unnecessary add-ons. The dealer might be pushing you to buy things like extended warranties, sunroofs, or DVD players because they make a lot of money with these add-ons. However, with each additional purchase you make, you will have less money to spend on the car.

How to get out of a reverse loan?

Start by determining how much you owe on your car. To calculate this number, subtract the value of your car from the outstanding balance on your loan. The Federal Trade Commission recommends examining Guides from the National Association of Automobile Dealers, Edmunds, and Kelley Blue Book to estimate the current value of your car.

Then you can consider refinancing your car loan. You might qualify for a lower rate and shorter repayment term when you refinance, which would reduce the time it takes to get out of negative equity on your loan.

If you have enough money, you might want to pay off your negative equity in one lump sum payment, but check with your lender to make sure you don’t incur any prepayment penalties. You probably won’t want to completely empty your bank account to do this, as you’ll want to have cash on hand in an emergency.

You could also contribute more per month by rounding your payments to the nearest $ 50, for example. You’ll pay off your loan and get rid of your negative equity faster.

Discover our advice to repay your car loan faster.

Selling your car privately through marketplaces like Craigslist or Ebay is another option to consider. You should try to get enough for the car to erase your negative equity, otherwise you will have to pay that money back yourself.

Finally, you can think about trade in your car at the dealership, but be careful before doing so. If you’re not careful, you could immediately end up with negative equity on your new car and fall into a cycle of debt. However, you could potentially be immune to your negative equity if you manage to downgrade and find a car worth more than its price.

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Floify announces integration with Freddie Mac Loan Product Advisor (LPA) https://bayd.info/floify-announces-integration-with-freddie-mac-loan-product-advisor-lpa/ Tue, 07 Dec 2021 13:03:36 +0000 https://bayd.info/floify-announces-integration-with-freddie-mac-loan-product-advisor-lpa/ BOULDER, Colorado (PRWEB) December 07, 2021 Floify, the leading mortgage point-of-sale solution and subsidiary of Porch Group, Inc. (“Porch”) (NASDAQ: PRCH), today announced the integration of Freddie Mac Loan Product Advisor® (LPASM) with the Floify platform, offering simultaneous access to the two largest automated mortgage underwriting systems (AUS). The Floify platform takes advantage of automation […]]]>

Floify, the leading mortgage point-of-sale solution and subsidiary of Porch Group, Inc. (“Porch”) (NASDAQ: PRCH), today announced the integration of Freddie Mac Loan Product Advisor® (LPASM) with the Floify platform, offering simultaneous access to the two largest automated mortgage underwriting systems (AUS).

The Floify platform takes advantage of automation to increase the efficiency and speed of the mortgage creation process. Through the partnership with Freddie Mac, users of Floify + and Floify TPO will be able to run loan eligibility results on LPA, Fannie Mae Desktop Underwriter (DU) or both simultaneously and download a variety of report types. LPA from AUS results. The addition of LPA integration to the current Floify offering provides brokers and Third Party Loan Originators (TPOs) instant access to eligibility terms through LPA and DU, reducing bottlenecks and ongoing charges, offering a benefit to Floify users.

“The inclusion and integration of LPA into our platform gives our users unprecedented access, accuracy and speed in a complex system,” said Dave Sims, CEO of Floify. “We are building the next evolution of the mortgage, driving innovation in an outdated space. With Floify, we seek to reduce friction between lender, broker and borrower, and the integration of LPA demonstrates our commitment to create a better mortgage solution and origination process. “

Along with the integration of LPA with the Floify platform, the company also added “Apply Now” entries to increase the accuracy of LPA-specific eligibility results.

“Floify’s innovative approach to mortgage automation and the positive impact they have had on our industry make them a trusted natural integration partner,” said Christina Randolph, Freddie Mac Single-Family Director, Partnerships and Integration, “Expanding ourabilities within cutting edge digital lending platforms will further improve the home buying process and our mission of making home possible.

About Floify:

Floify is a digital mortgage automation and point-of-sale solution that streamlines the loan creation process by providing a secure application, communication and document portal between lenders, borrowers, referral partners and other stakeholders in the mortgage industry. Lenders use Floify to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. Floify is based in Boulder, Colorado. For more information, visit the company’s website at floify.com.

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LenDenClub Raises $ 10 Million in Series A Funding https://bayd.info/lendenclub-raises-10-million-in-series-a-funding/ Tue, 07 Dec 2021 11:43:55 +0000 https://bayd.info/lendenclub-raises-10-million-in-series-a-funding/ Bengaluru: Peer-to-peer lending platform LenDenClub raised $ 10 million in a Series A round co-led by a consortium of investors including Tuscan Ventures, Ohm Stock Brokers and Artha Venture Fund, has the company announced on Tuesday. Other participating investors included Cred founder Kunal Shah; Alok Bansal, co-founder of PolicyBazaar; Livspace founder Ramakant Sharma and Indian […]]]>

Bengaluru: Peer-to-peer lending platform LenDenClub raised $ 10 million in a Series A round co-led by a consortium of investors including Tuscan Ventures, Ohm Stock Brokers and Artha Venture Fund, has the company announced on Tuesday.

Other participating investors included Cred founder Kunal Shah; Alok Bansal, co-founder of PolicyBazaar; Livspace founder Ramakant Sharma and Indian cricketer Hardik Pandya, among others.

After the roundtable, LenDenClub is now valued at over $ 51 million.

The company plans to use the proceeds of the current fundraiser to invest heavily in innovating and upgrading its proprietary technology stack platform, while building its leadership strength through executive hires.

It also plans to increase the size of its operational team and increase recruitment in technical, product and marketing functions by the end of the next fiscal year.

Seven-year-old LenDenClub is leveraging technology to put borrowers and investors on the same platform – offering instant loans to borrowers and next-generation investment options to investors across the country.

“We are privileged and excited to bring extremely diverse investors into this cycle and use their expertise to fuel the growth of LenDenClub. The goal is to accelerate growth while maintaining the profitability of operations, ”said Bhavin Patel, co-founder and CEO of LenDenClub.

The company claims to have already spent more than ??1,200 crore of loans in this fiscal year alone. The new capital will be used in an aggressive expansion, bringing the growth of its loan portfolio to $ 1 billion and increasing the number of users to 10 million from the current 2.5 million by fiscal year 2022- 2023, he said.

LenDenClub currently has 1 million investors and processes over 2.5 lakhs of loan applications every month.

“We are delighted to see such a rich treasure trove of investors supporting a startup that we have seen go from 1 to 2 loans per month, to over 35,000 loans. We look forward to seeing where this investment cycle takes LenDenClub and the path it takes, ”said Anirudh A Damani, Managing Partner, Artha Venture Fund.

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