Cash – Annonce FR Fri, 28 May 2021 11:25:17 +0000 en-US hourly 1 Cash – Annonce FR 32 32 AE Jobs; Lead Gen Products; Wholesaler’s New Products; Training, Events, and Webinars Fri, 30 Apr 2021 04:40:19 +0000 AE Jobs; Lead Gen Products; Wholesaler’s New Products; Training, Events, and Webinars “Some are born to meet, some achieve meetings, and some have meetings thrust upon them.” There are definitely in-person meeting “green shoots” sprouting ahead of the residential and commercial lending conference season. A survey done during a session last week hosted by the […]]]>

AE Jobs; Lead Gen Products; Wholesaler’s New Products; Training, Events, and Webinars

“Some are born to meet, some achieve meetings, and some have meetings thrust upon them.” There are definitely in-person meeting “green shoots” sprouting ahead of the residential and commercial lending conference season. A survey done during a session last week hosted by the Mortgage Bankers Association for state and local organizations showed the vast majority were planning in-person events in 2021. (For example, I will be sharing the stage with Brian Montgomery in next month’s MBAG convention in Ponte Vedra, Florida.) Yes, Georgia, Florida, Texas, and California have every intention of having in-person conferences starting next month with safety as a paramount concern; more events and training below. I’m sure many sessions will highlight technology and scaling, and the audio version of today’s commentary is available here and is sponsored by Candor, the dynamic, adaptive underwriting engine.

Products and Services

Loan Officers, are you struggling to make the shift from the refi-driven market to a purchase-dominated market? Now is the time to double down on your relationships with your Real Estate and builder partners. Remind your agents how vital they are to your business and that you are all in when it comes to providing value. Usherpa automatically keeps your name in front of your agents with valuable marketing content, business-building alerts, and elegant co-branding campaigns. Is your CRM tapping into data intelligence and multi-channel marketing technology to build your referral machine? Here’s how to supercharge your Realtor relationships today. You’ve earned their trust, now remind Realtors of what you bring to the table!

Nearly 1/5th of your lead list could enter the mortgage market within 120 days with Service 1st’s lead generation portfolio, powered by Experian. When using Experian’s “In the Market” propensity model, consumers who score within the top 20% model tier are 80% likely to enter the mortgage market within 1 to 4 months. That’s powerful, instant data! Upload existing lists or create custom consumer lists using attribute combinations, including credit score, homeownership, mortgage balance, and zip codes. Create loyalty with unqualified prospects by leveraging CreditXpertTMSchedule with one of our friendly experts to learn more about predictive tools and other result-driven loan origination solutions. Please note conditions apply to use these solutions. A knowledgeable Service 1st representative will review this information with you.

Broker and Wholesale News

loanDepot Wholesale is thrilled to announce its new and improved Jumbo program. Jumbo Advantage Express is a proprietary product that does not require any second signatures or investor approvals with loan amounts starting at $1 above conforming limits and up to $2,000,000. Available for purchase, rate & term refinance, and cash-out refinance on primary residence, second home, and investment properties. Other program highlights include: Up to 89.99% LTV with no MI required over 80% LTV, income, assets, and reserve requirements per DU findings, credit scores as low as 660, 30 and 15 year fixed rate terms, and up to $500,000 cash-out. Get started with LDW today! 

Brokers, imagine your marketing with no boundaries! While many other lenders pitch space age marketing solutions, Orion Lending provides Broker Partners with the very latest in mortgage marketing technology. The STAR Marketing StudioTM empowers users with an all-encompassing marketing suite and cloud-based design platform to host, edit and publish customizable English and Spanish brandable collateral. Interested in learning more? Visit If you are ready to leverage STAR Marketing StudioTM, it’s time to do business with Orion Lending. Get Approved Today and start submitting loans by the end of the day!  For additional inquiries, please email

Caliber Home Loans always goes BIG for our brokers and we’re excited to announce the return of Caliber Jumbo. When your borrowers are in the market for higher-end, luxurious homes, a typical loan amount might not work. Many times, the home value will exceed the typical Fannie Mae and Freddie Mac loan servicing limits. Jumbo loans provide your borrowers a solution to get the funds they need so they can purchase the home of their dreams. Fixed and ARM options, up to a 90% LTV, and $2.5M max loan amounts are all part of this huge offering. Available for Purchase or Refinance, Caliber Jumbo is a flexible solution for your customers. Step into greater opportunities with Caliber Jumbo! Reach out today or click here to find out how to become an approved wholesale lender.”

Introducing the Freedom Mortgage Wholesale Division’s Big Spring Purchase Tee Off! Offer a hole-in-one experience with every new Conventional, VA, and FHA purchase! Enjoy 3 Business Day Priority Purchase Underwriting and a (.250) LLPA incentive for all Conventional, VA, and FHA purchases. Plus, offer more buying power for your Jumbo VA borrowers! Freedom Mortgage is proud to offer eligible Veteran jumbo purchase borrowers no down payment VA-backed loans in all areas of the country for any home price. To learn more, check out Freedom’s rate sheet or email to have an Account Executive contact you.

Mountain West Financial Wholesale posted Bulletin 21W-023 regarding revisions and clarifications that have been incorporated into the most recent version of the FHA 4000.1 Handbook. 

Lakeview Wholesale has launched its VA IRRRL Program.

Take control of the funding process like never before with FlexClose®, offered by Plaza Home Mortgage® through its Wholesale channel. FlexClose is a new way to fund, which allows you more control over when funding occurs, even after-hours and on weekends: close faster and more efficiently by giving you more closing hours in a day, and more closing days in a week and month.

PCF Wholesale announced three big improvements: Max loan amount for FHA/VA has been raised to $1.5MM, minimum FICO for FHA/VA is now 600, and the pricing adjustment for self-employed borrowers is cut in half to -0.500. Find PCF on Loan Sifter.

Don’t forget that appraisal fees in Mohave County Arizona increased. Read MWF Wholesale Bulletin 21W-014 for more information.

First Community Mortgage Wholesale Announcement 2021-4 discusses Paying Down and Paying Off Accounts & Installment Debt.

Training and Events in April

Are you ready to feel more balance in your life? Think 9 weeks of time off every year is just a fantasy? Think again! 20-year banking industry veteran and best-selling author Jessica Peterson has discovered the secrets to spending every minute more wisely while effectively building and nurturing your social media connections. Join Jessica and MGIC on April 21 for a webinar that will help you increase your productivity and balance through efficient social media and communication strategies. Register today! All attendees will receive a copy of Jessica’s book, “Create the Perfect Day”.

It may be April 5th, but is your servicing risk management strategy still making a fool out of you? Don’t get caught using fool’s gold as your servicing risk management strategy. MQMR has the treasure map for striking gold with this free white paper, Better Together: How to Create a Comprehensive Servicing Risk Management Strategy.And, to help you find where “X marks the spot,” MQMR’s Julie McCurley and Lisa Butler are hosting a TMConnect Webinar titled, “Cover Your Assets,” on April 13 at 4PM ET.

Join Plaza for an educational session designed to help expand your knowledge of the various renovation products that are available through Plaza Home Mortgage®. This April 6th webinar is brought to you by The Mortgage Collaborative (TMC) will hone in on specific areas that you need to know when working with renovation loans. And join Plaza for Selling Renovation Loans on Friday April 9, 11:00 AM PT and a Renovation Operational Overview on Friday April 16, 11:00 AM PT.

There’s still time to register for the 2021 CMLA Mortgage Lenders Expo. This 3-day comprehensive expo includes virtual education sessions on April 7-8 and April 9th is an

In-person networking event at TopGolf Centennial.

Join Eddy Perez, CEO of Equity Prime Mortgage, Alex Kutsishin, CEO of Sales Boomerang, and Jim Park, Executive Chairman of TMC, on April 8 at 2PM ET for a webinar titled “How EPM Uses Sales Boomerang to Become the Lender Their Borrower Never Forgets” as the trio discuss Equity Prime’s strategies for creating customers for life.  

Friday the 9th is the Mortgage Collaborative’s Rundown with Rich and Rob. Rich Swerbinsky, the COO of The Mortgage Collaborative, and I will be discussing current events in the mortgage market for 30 minutes starting at 3PM ET: “The Rundown with Rob and Rich.”

CMLA’s Annual Mortgage Lenders Expo is back set to take place through a virtual experience on April 7-8.

Register today for the MBA’s Spring Conference and Expo, April 20-22, stream it live or catch up on-demand after the conference. Targeted tracks include IMB Business Strategy & Operations. Secondary & Capital Markets. Tech Solutions (Sponsor: FINASTRA). Servicing Solutions.

Click here to view loanDepot’s April Training Calendar.

The April 13th edition of OriginatorTech will feature: Blueprint, Capacity, Mortgage Cadence, Sales Boomerang and Zenly by Calyx. Reserve your spot today.

Attend MMLA’s April 15th virtual Sales Symposium to hear the fabled Victoria Deluce dissect the latest news on Secondary Marketing. Also due up are at this virtual event are Josh Pitts, Kristin Messerli and more.

WMBA’s April Event, Top Producers Panel, is coming up on April 20th. Listen to reps from Cornerstone Home Lending, Caliber, and Guild.

Register for the MIAC Live Webinar on Thursday, April 22nd to learn how to navigate the MSR market in this rising rate environment.

PMI training? MGIC offers complimentary webinars every month to help customers succeed in today’s mortgage insurance industry, including “Your Charisma Counts! Improve Your Presence and Communication Skills Virtually and Beyond”, on April 22. Genworth Mortgage Insurance offer live webinars in April, as does National MI: Visit the National MI website.

April 22-24 is the MBA’s Independent Mortgage Bank, Secondary Marketing, Servicing, and Technology virtual conference. Huh? No more grappling with the NY Marriott elevator bank for the secondary marketing folks?

Capital Markets

Face it: This spring’s economic narrative is going to center around new and re-opening businesses benefiting from increased vaccinations and easing of government restrictions on social activity. Friday, we learned that the leisure and hospitality industry led the way in job gains for the second consecutive month in March, adding 280,000 jobs. The brisk economic turnaround, however, has led to a record number of businesses reporting one or more positions unfilled due to lack of labor supply or lack of qualified talent. In addition to short labor supply, many manufacturers are facings materials shortages due to the increased demand for finished goods. In fact, manufacturing supplier delivery times have increased to levels not seen since 1974 when the oil embargo disrupted global supply chains. Despite the headwinds, manufacturing continues to benefit from increasing orders and activity is at a 37-year high. As supplier costs continue to increase many expect businesses to take advantage of their current pricing power to pass some of those additional costs on to consumers. Economists expect the price pressure to subside once the bottlenecks clear in which case the Fed will be able to keep monetary policy loose longer rather than being forced into action to slowdown a potentially overheating economy.

Rates went up a shade on Friday after the stronger-than-expected-payrolls report. Economists were quick to point out that more low paying jobs are returning as business resumes. The benchmark U.S. T-Note closed yielding 1.72 percent. In terms of news, April’s first full week calendar, besides the normal weekly releases, includes updates on services PMIs, factory orders, trade, consumer credit, PPI, and wholesale inventories and sales. The minutes from the March 16/17 FOMC meeting will be released on Wednesday. For those who have come to rely on the demand helping fixed-income prices, the NY Fed Desk is scheduled to purchase up to $28.1bn MBS, or $5.6bn per day on average (including $5.2 billion of Agency MBS today).

Today is little of consequence for scheduled news: Markit Services PMI, March Employment Trends Index and March ISM services PMI and February factory orders. The Treasury will sell $111 billion of short-term notes that have no bearing on mortgage pricing. The week starts with Agency MBS prices worse nearly .125 from Friday and the 10-year yielding 1.73.

Employment and Transitions

New Year: Fresh start! Are you an experienced Wholesale Account Executive wanting to make a change? Looking for a company with an entrepreneurial mortgage culture of collaboration, team-based success, and the security of working for a bank? Then it’s time to call FLCBank’s Bob Eisendrath, Strategic National Account Manager (414.350.3986). FLCBank is agency approved and has a suite of bank jumbo products along with IO options on both conventional and jumbo loan balances. In addition, you have access to offering warehouse lines to your non-delegated clients. Come join our bank and have fun again with a team environment where everyone is passionate about delivering an exceptional customer experience with every loan. Open territories are GA, TN, AL, NC/SC, VA, MA, IL, OH, MI, AZ, TX, CO. We offer competitive compensation, an energized culture, and an experienced operations & support staff. FLCBank is an Equal Opportunity/Affirmative Action Employer.

Mike Bugbee has joined BSI Financial Services as VP of Client Success to lead the company’s broader strategy to better align the delivery of its robust and client-centric focus with the expanding needs of BSI’s growing primary and specialty servicer client base.

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Compare Today’s Mortgage and Refinance Rates Fri, 30 Apr 2021 04:40:17 +0000 Editorial Independence We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. Sorry, you’ll need JavaScript enabled to use the Jumbo Purchase Rate […]]]>

We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.

Advertised & Editorial Rates: This table includes two types of listings: ads that we may be paid for (“advertiser listing”); and listings that we research and publish to provide a more holistic view of market rates (“editorial listings”). Here’s how to tell the difference: if you see a clickable button, such as a green “Next” button, that is an advertiser listing, and if you do not see a clickable button, it’s an editorial listing. For more information, see our Advertising Disclosure

Accuracy of Advertised Terms: Each advertiser is responsible for the accuracy and availability of its ad offer details. However, we attempt to verify those details through our quality control program. For more information, see our Quality Control Program.

Editorial Content: We include editorial content below the rate table to educate consumers about financial products and services. Some of that content may also contain ads, including links to advertisers’ sites, and we may be paid on those ads or links. For more information, see How We Make Money.

How to use our mortgage rate table

Our mortgage rates table features the average interest rates and annual percentage rates (APRs) for the most popular types of mortgage loans. It has rates for 15-year, 30-year, and 20-year loan terms. It also includes government-backed mortgages, such as VA loans, FHA loans, and a variety of adjustable-rate mortgages.

These rate averages will give you a good idea of how the length of your mortgage’s repayment term and the type of loan you get will impact your interest rate. Shorter loans usually have lower interest rates, and longer loans typically come with higher rates. Government-backed loans can have lower mortgage rates, especially if you have a lower credit score, but the same loans can have potentially higher fees, which drives up the APR.

How mortgage rates work

Your mortgage rate is the interest you pay on your remaining loan balance and it is expressed as a percentage. Your mortgage rate can be fixed, which means it will never change. Adjustable mortgage rates are fixed for a limited amount of time, perhaps 3-10 years and then typically reset every year after the introductory period.

The longer your mortgage’s repayment period, the more interest you’ll pay overall. For a traditional 30-year mortgage, you could easily end up paying over 50% of what you initially borrowed just in interest. For example, a $150,000 30-year mortgage at 3.3% would end up costing the borrower more than $86,000 in interest over the life of the loan, according to NextAdvisor’s mortgage calculator.

Why it’s important to shop for quotes

When you’re getting a mortgage, it’s important to compare offers from a variety of lenders. Every lender will evaluate your personal financial situation differently. So getting multiple quotes will allow you to choose the offer with the lowest interest rate.
However, interest rate isn’t the only factor you need to consider when comparing mortgage lenders. The fees each lender charges can vary just as much as the interest rate. So the offer with the lowest rate may not be the best deal if you’re paying excessive upfront fees. To compare rates and fees, take a look at the Loan Estimate form that lenders are required to provide within three business days of receiving your application. The Loan Estimate is a standardized form, which makes it easy to compare quotes.

What Are Today’s Mortgage Rates?

On Thursday, April 29, 2021, according to Bankrate’s latest survey of the nation’s largest mortgage lenders, the average 30-year fixed mortgage rate is 3.110% with an APR of 3.320%. The average 15-year fixed mortgage rate is 2.400% with an APR of 2.680%. The average 5/1 adjustable-rate mortgage (ARM) rate is 3.260% with an APR of 4.030%.

Current Mortgage and Refinance Rates

Product Interest Rate APR
30-Year Fixed Rate 3.160% 3.310%
30-Year FHA Rate 2.900% 3.760%
30-Year VA Rate 2.740% 2.940%
30-Year Fixed Jumbo Rate 3.180% 3.240%
20-Year Fixed Rate 3.050% 3.210%
15-Year Fixed Rate 2.470% 2.670%
15-Year Fixed Jumbo Rate 2.490% 2.540%
5/1 ARM Rate 3.110% 4.020%
5/1 ARM Jumbo Rate 3.030% 3.900%
7/1 ARM Rate 3.150% 3.880%
7/1 ARM Jumbo Rate 3.230% 3.820%
10/1 ARM Rate 3.340% 4.010%
Product Interest Rate APR
30-Year Fixed Rate 3.110% 3.320%
30-Year FHA Rate 2.940% 3.800%
30-Year VA Rate 2.750% 2.930%
30-Year Fixed Jumbo Rate 3.120% 3.220%
20-Year Fixed Rate 3.010% 3.190%
15-Year Fixed Rate 2.400% 2.680%
15-Year Fixed Jumbo Rate 2.400% 2.460%
5/1 ARM Rate 3.260% 4.030%
5/1 ARM Jumbo Rate 3.390% 3.980%
7/1 ARM Rate 3.140% 3.830%
7/1 ARM Jumbo Rate 3.250% 3.770%
10/1 ARM Rate 3.310% 3.990%

Rates as of Thursday, April 29, 2021

These rate averages are based on weekday mortgage rate information provided by national lenders to These marketplace average rates for a variety of purchase loan types are updated daily, though it is possible rates have changed since this was last updated.

Finding the Best Mortgage Rate

How do I find the best mortgage rate?

Finding the best home mortgage rate is a matter of knowing your goals and picking the right tool to get the job done. The best mortgage for you may not always be the one with the lowest interest rate. Factors like how long you plan on living in your home will impact your decision.

If you plan on living in your new home long-term, then a fixed-rate mortgage is ideal. Mortgage rates today are very reasonable for fixed-rate 10-, 15-, or 30-year mortgages, and being able to lock in low rates is a smart choice. But you can get lower mortgage rates with some adjustable-rate loans. So if you plan on only keeping your home (or current mortgage) for three to 10 years, then you may be able to pay less interest with an ARM.

How do I find personalized mortgage rates?

Finding personalized mortgage interest rates is as easy as talking to your local mortgage broker or searching online. While most factors that impact mortgage interest rates are out of your control, rates still vary from person to person. Lenders charge higher home mortgage rates to borrowers they deem more risky. So having a high credit score (740+) will get you the best interest rates. Lenders also look at how much you are borrowing compared to the home’s value; this is known as loan-to-value, or LTV. You’ll get a better rate when the LTV is below 80%. So if your future home has a value of $200,000, you’ll get the best rates if the loan is for $160,000 or less.

When shopping around for the best rates consider a variety of lenders, like local banks, national banks, credit unions, or online lenders. Be sure to compare not only interest rates, but also the fees and other terms of the mortgage. Also, mortgage rates are constantly changing, so getting rate quotes from multiple lenders around the same time makes it easier to get an accurate comparison. If that’s too much legwork, you could work with a mortgage broker. Mortgage brokers don’t directly issue loans, instead they work with a number of lenders to find you the best deal. But their services aren’t free, they work on commission paid by either the lender, or the borrower.

What is a good mortgage rate?

Average mortgages rates have been at historically low levels for months, even dipping below 3% for 30-year fixed-rate loans for the first time ever. If you can get a mortgage with an interest rate below 3%, you could be getting the deal of a lifetime.

But even if you’re getting a low interest rate, you need to pay attention to the fees. Hidden inside a good mortgage rate can be excessive fees or discount points that can offset the savings you’re getting with a low rate.

How are mortgage rates set?

Mortgage rates fluctuate for the same reasons the price of homes change – supply, demand, inflation, and even the U.S. employment rate can all impact mortgage rates. But the demand for homes isn’t necessarily a sign of where mortgage rates are headed. The best indicator of whether rates will go up or down is the 10-year Treasury bond rate.

When a lender issues a mortgage it takes that loan and packages it together with a bunch of other mortgages, creating a mortgage-backed security (MBS), which is a type of bond. These bonds are then sold to investors so the bank has money for new loans. Mortgage bonds and 10-year Treasury bonds are similar investments and compete for the same buyers, which is why the rates for both move up or down in tandem.

If the demand for these safer bond investments is low, the mortgage interest rate increases to attract buyers. When there is strong demand for these investments, they can be sold more easily and the mortgage interest rates decrease. That’s why, in a slumping economy, when more investors want to purchase safer investments, like mortgage-backed securities and treasury bonds, rates tend to go down. The Federal Reserve has been purchasing MBS and treasury bonds, and this increased demand has led to the lowest mortgage rates on record.

When is the right time to get a mortgage?

Before you apply for a mortgage, you should have a proven reliable source of income and enough saved up to cover the down payment and closing costs. If you can save at least 20% for a down payment, you can skip paying for private mortgage insurance and can qualify for better interest rates.

At the end of the day, the best time to apply is when you’re ready. But there are other details to consider when timing your home purchase. Because home sales slow down during the winter, you may be able to get a better price in the spring. However, general nationwide trends won’t necessarily apply to your local real estate market. To get a better sense of the nuances of your area it’s important to talk with local experts.

How do I choose a mortgage lender?

When it comes to choosing a mortgage lender, picking the right one can save you in the long run, but you’ll need to know what you’re comparing. The right lender for you might not always be the one with the best mortgage rates, although that’s often the biggest factor to consider. You’ll also want to scrutinize other aspects of your loan, like the monthly payment, closing costs, down payment, and the lender’s processing fees.

Because there is so much to look at, it’s important to work with a competent lender you trust. You want someone who can pull the curtain back and show you what all these costs mean and help you make the best choice for your situation. To find a trusted lender you can look at online reviews, or even better, ask around. Your real estate agent and friends who recently purchased a home are great sources for mortgage lender recommendations.

What is a mortgage rate lock?

Mortgage rates change daily, and that can be a problem when it can take more than a month to close a refinance loan. The solution offered by most lenders is a mortgage rate lock.

With a rate lock, your interest rate won’t change for a set amount of time. If there are delays in closing your loan, and your rate lock will expire before you can complete the refinance, you may be able to get an extension. If that happens, be sure to ask if there are fees for extending the rate lock.

What are the mortgage rate trends for 2021?

What happens with mortgage rates in 2021 will largely depend on how quickly the economy recovers.

With another round of stimulus funding about to be passed, this should help the recovery process and could nudge inflation slightly higher. And things seem to be trending in that direction, with the U.S. Department of Commerce reporting a significant increase in consumer spending in January 2021. This would put upward pressure on mortgage rates. In recent weeks, 10-year Treasury yields have continued to rise. And mortgage rates have responded by following suit. The average 30-year fixed mortgage rate is now over 3%.

NextAdvisors Guide to Mortgages

What is a mortgage?

A mortgage is a type of secured loan that is used to purchase a home. The word “mortgage” actually has roots in Old French and Latin, and literally means “death pledge.” Thankfully, it was never meant to be a loan you paid for until you died (although it might feel that way), but rather a commitment to pay until the pledge itself “died” (i.e. the loan was paid off).

You can also get a mortgage to replace your existing home loan, which is known as a refinance.

What is a mortgage rate?

A mortgage rate is the interest lenders charge on a mortgage. Mortgage rates come in two forms: fixed or variable. Fixed rates never change for the life of your loan — and in exchange for this certainty, the rate is higher on longer loans. Variable-rate mortgages can have lower interest rates up front, but fluctuate over the term of your loan based on broader economic factors. How frequently a variable-rate mortgage changes varies based on the loan’s terms. For example, a 5/1 ARM (adjustable rate mortgage) would have a fixed rate for the first five years of the loan, then change every year after that.

How does a mortgage work?

A mortgage is a type of secured loan where the property – often your home – is the collateral. So you’ll never be able to take out a mortgage without having some sort of real estate attached to it. Mortgage loans are issued by banks, credit unions, and other different types of lenders.

Aside from paying the loan back, you pay for a mortgage in two ways: fees and interest. Interest is paid on your loan balance throughout the life of the loan, and is built into your monthly payment. Mortgage fees are usually paid upfront, and are part of the loan’s closing costs. Some fees may be charged annually or monthly, like private mortgage insurance.

Mortgages are repaid over what is known as the loan term. The most common loan term is 30 years. You can also get a mortgage with a shorter term, like 15 years. Short-term loans have higher monthly payments, but lower interest rates. Mortgages with longer terms have lower monthly payments, but you’ll typically pay a higher interest rate.

How do I get a mortgage?

Other than finding the ideal home to purchase, getting a mortgage is the most important part of the homebuying process. It’s likely the largest loan you’ll ever take out. So finding the right lender and getting the best deal can save you thousands of dollars over the life of the loan.

Here’s what you need to do.

  1. Shop around and compare multiple lenders and loans

There are lots of different types of lenders. Looking at the loans and programs that banks, credit unions, and brokers offer will help you understand all of your options.

If you’re looking for a specific type of loan, like a VA loan or a USDA loan, then make sure that the lender offers these mortgages.

  1. Apply for preapproval

Before you start shopping for a home, you’ll need a preapproval letter. A mortgage preapproval is different from a formal loan application in that it doesn’t affect your credit and doesn’t mean you’re actually approved for a loan. But it does give you an idea for whether you’re likely to be approved, so the lender will need you to submit documentation to verify your financials for this process.

  1. Submit an application

Once you’re ready to really start comparing loan offers you need to submit an application. Until you apply, the lender won’t be able to give you an official estimate of the fees and interest rate you qualify for.

To find the lowest rate and fees, you should submit applications with two or three lenders. Once you have each Loan Estimate in hand, it’s easier to compare and determine which offer is best for you.

  1. Underwriting and closing

The final step to getting a mortgage loan is the underwriting and closing process. During underwriting, the lender will review everything from your credit score to your bank statements to assess whether you qualify for the loan.

The closing process includes the home inspection and appraisal. The final day of closing is when you’ll sign the dotted line, take the keys to your new home, and officially have a mortgage.

What is the difference between APR and interest rate?

The interest rate is the cost of borrowing the money, and it is advertised as a percentage of the loan. APR stands for annual percentage rate, and it includes the interest rate plus other fees associated with the mortgage. So the APR will provide you with a better idea of the total cost of financing the loan. You may find lenders offering the same interest rate and monthly payments, but if one is charging higher upfront fees, then the APR will be higher.

The Federal Truth in Lending Act requires lenders to disclose the APR, but which fees are included in it can vary. So when comparing APRs of different lenders, ask which fees aren’t included for better comparison.

What are the different types of mortgages?

Mortgages come with all sorts of different interest rates and terms. These influence not only how long it will take to pay off your loan, but also how much your monthly payments will be.

These are some of the most common types of mortgages home buyers use:

Fixed-rate mortgage

A fixed-rate mortgage has a set interest rate for the life of the loan. With this type of loan, your mortgage rate will never change. While your overall monthly payments could still fluctuate based on property taxes or other factors changing over the course of your mortgage, a fixed rate locks in how much you’ll pay in interest over the course of your loan. And if interest rates drop to below your current rate, you can refinance to a lower rate.

Two of the more popular mortgage terms for fixed-rate loans are 15- and 30-year mortgages.

ARM (Adjustable Rate Mortgage)

An ARM is usually a 30-year term loan with an interest rate that changes over time, in line with market averages. When the interest rate changes depends on the loan. Common ARM terms are 5/1, 7/1, and 10/1. The first number designates the first year your interest rate will change, and the second number is how frequently the interest rate resets after the first time. So a 5/1 ARM adjusts the rate after 5 years, and then annually after that. Most ARMs reset annually after the initial adjustment.

Government-backed loan

There are several types of government-secured loans backed by different departments of the government, including the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), and U.S. Department of Agriculture (USDA). You can apply for these loans through approved lenders, such as most national banks and many smaller regional lenders.

Qualifying for these loans is a bit different than with conventional loans. For example, USDA loans are only available for homes in an eligible rural-designated area, and VA loans are only an option if you meet the military service requirements. FHA loans typically have lower credit score requirements, but you will have to pay mortgage insurance for the life of the loan.

What is the best mortgage loan type?

The best mortgage is the one that helps you meet your housing needs for as little financing costs as possible. There are a few factors to consider when it comes to getting the right mortgage.

Some experts recommend getting a 15-year mortgage because you’ll pay far less interest and be debt free in half the time compared to a 30-year loan. With a 30-year loan, your monthly payments can be significantly lower, but you’ll pay much more in interest over the course of your term. So it’s a tradeoff.

There are also tradeoffs in choosing a government-backed versus a conventional loan. For example, FHA mortgages can have lower credit score requirements than conventional loans. But unlike conventional loans, FHA loans require mortgage insurance even if your loan-to-value ratio drops below 80%.

If you want a set interest rate for the life of the loan, and more stable monthly payments, then a fixed-rate mortgage is ideal. The interest rate on a fixed-rate mortgage never changes. In exchange for this security, the rate can be a bit higher than with a similar adjustable rate mortgage (ARM). ARMs have a set interest rate for a certain number of years (usually, five, seven, or 10 years), and then the rate adjusts annually. An ARM might make sense if you plan on refinancing your mortgage in the future, or you might sell the house before the rate adjusts.

Regardless of what loan type you go with, remember, it’s not the loan you have to keep forever. Even if you stay in the same home for the rest of your life, you can refinance your mortgage to take advantage of better terms or rates.

How much can I borrow for a mortgage?

The amount of money you can borrow is affected by the property, type of loan, and your personal financial situation.

During the mortgage preapproval process the lender will look at your overall financial profile to determine how much it is willing to let you borrow. A big factor in this process is your debt-to-income ratio (DTI). Your DTI is calculated by dividing your total monthly debt payments by your monthly income. In most cases, the maximum DTI a lender will allow is 43%. So if you make $5,000 a month your mortgage payment and other monthly debt payments can’t exceed $2,150.

To protect its investment, a lender will typically only let you borrow a certain percentage of a property’s value. So the value of the property can also limit how much you can borrow. Most mortgage loans require a down payment of anywhere from 3% to 20%. You may be able to borrow 100% of the property’s value with certain government-backed loans, like Department of Veterans Affairs (VA) Loans or U.S. Department of Agriculture Rural Development (USDA) loans.

What is a discount point?

Discount points are fees you pay the lender upfront in exchange for a lower interest rate. Buying down the rate with discount points can save you money if you’re planning on keeping your home for a long time. But if you’re going to sell or refinance before the full loan term is up, paying more fees upfront may not make sense.

Discount points can be part of a good deal, but you need to make sure you know when they are being added to your loan. When you’re comparing mortgage offers, be sure to ask if the interest rate includes discount points.

What You Should Know About the Largest National Banks

The top five lenders in the U.S. issued over 1.4 million mortgages last year, according to a Consumer Financial Protection Bureau report. Mortgage lenders come in all shapes and sizes, and many aren’t household names because they don’t deal directly with borrowers. If you’ve been shopping for a mortgage lender, it’s likely you’ve come across one of the following companies, which are some of the top lenders in the United States based on the number of loans closed.

Quicken Loans


Quicken Loans is an online mortgage lender headquartered in Detroit, Michigan, and serves all 50 states. Quicken Loans is very popular, and closed more mortgage loans in 2019 than any other lender.

What to keep in mind

Quicken Loans’ mortgage processing platform is Rocket Mortgage. With Rocket Mortgage you can go through the pre-approval process and submit a mortgage application all from the comfort of home. While this is a convenient process, if you prefer the personal touch of working with a local lender face to face, that isn’t an option with Quicken Loans as the entire process is handled online or over the phone.

United Shore Financial Services


The Detroit-based United Shore is the top wholesale lender in the United States. And because it’s a wholesale lender, you may not be familiar with the name, but it’s one of the biggest lenders in the country, with well over 300,000 mortgages closed in 2019. 

What to keep in mind

A wholesale lender doesn’t issue mortgages directly to consumers. Instead, it supplies the money for the loans to other front-facing lenders, like mortgage brokers, credit unions, and banks. 

Wholesale lenders don’t typically keep the mortgages they issue long term. They usually sell them to investors on the secondary-mortgage market. So if you have a preference on what institution services your loan, a wholesale lender probably isn’t your best bet. But if you aren’t concerned about where you send your mortgage payment each month, then being open to using a wholesale lender (indirectly) should give you more options to choose from and may help you get a better deal.

Wells Fargo


Wells Fargo is a traditional brick-and-mortar bank with more than 5,300 locations in the United States. The bank is headquartered in San Francisco, California, and issues mortgages in all 50 U.S. states.

What to keep in mind

As a full-service bank, it offers all types of mortgages and other financial products and services as well, including bank accounts, personal loans, and retirement services. Getting a mortgage with a traditional bank like Wells Fargo might appeal to some borrowers, since it allows you to manage multiple accounts with the same company.

However, if you prefer meeting with a lender in person, there are 14 states where Wells Fargo doesn’t have a branch location. There are currently no Wells Fargo banks in the following states: Hawaii, Oklahoma, Louisiana, Michigan, Indiana, Ohio, West Virginia, Kentucky, Maine, Vermont, New Hampshire, Missouri, Rhode Island, and Massachusetts.

JPMorgan Chase


The New York-headquartered JPMorgan Chase is one of the biggest banks in the world and one of the largest mortgage lenders in the United States. Chase has been expanding its network of physical locations and has nearly 5,000 branches across the country.

What to keep in mind

Chase also offers personal bank accounts, credit cards, auto loans, and a wide range of other financial services. If you have a banking relationship with Chase, it occasionally runs mortgage promotions for existing customers.

While Chase has locations in over 30 states, it doesn’t have a presence everywhere, so there may not be a branch close by depending on where you live.

Fairway Independent Mortgage Corporation


Fairway Independent Mortgage has more than 700 locations nationwide and is licensed in all 50 states. As a lending institution, it focuses (as a direct lender) entirely on mortgage loans. But it also operates a mortgage wholesale division.

What to keep in mind

Even though Fairway Independent Mortgage has a smaller footprint than some of the other larger banks, it does have locations in 48 states. In addition to being able to apply in person at one of its office locations, you can also apply online. 

Fairway offers a wide range of mortgages, but because it’s not a full-service financial institution it doesn’t issue other types of accounts or credit lines, like home equity loans. So it’s not a good option if you’re looking for a one-stop-shop for all your financial services.

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Biden failed to follow through on 2 promises to cancel student debt Wed, 07 Apr 2021 23:16:24 +0000 Biden has pledged in his campaign to write off $ 10,000 in student debt per person and write off student debt at HBCUs and public colleges. As president, he has yet to follow through on any of those promises. The DOE has already written off the debt of defrauded borrowers and disabled borrowers. See more […]]]>

  • Biden has pledged in his campaign to write off $ 10,000 in student debt per person and write off student debt at HBCUs and public colleges.
  • As president, he has yet to follow through on any of those promises.
  • The DOE has already written off the debt of defrauded borrowers and disabled borrowers.
  • See more stories on the Insider business page.

So far, President Joe Biden’s Department of Education has acted to address the $ 1.7 trillion student debt crisis in the country by canceling, among other things, the debt of certain borrowers defrauded by for-profit schools and borrowers with disabilities.

On his first day in office, Biden’s first move to tackle student debt was to extend the break on federal student loan repayments through September. Since then, Education Secretary Miguel Cardona has taken three distinct stages deal with student debt: he forgave the debt for around 72,000 borrowers defrauded by for-profit schools, he forgave the debt for more than 41,000 borrowers disabled, and more recently it has broadened the scope of the payment break to 1.14 million borrowers with private loans.

But as president, Biden has yet to follow through on two campaign promises he made to voters on student debt cancellation. The more than 81 million people who voted for him also voted for two promised student debt relief measures that have yet to be passed, if ever they will be.

Regarding other actions Biden could take on student debt cancellation, a DOE spokesperson told Insider that the department “is working in partnership with colleagues from the Department of Justice and Home Affairs. Blanche to review options for debt cancellation “.

Here’s what Biden said during the election campaign about how he would tackle the student debt crisis:

During his campaign, Biden promised to immediately write off $ 10,000 in student debt per person. In one word on Nov. 16, Biden said student loans were delaying borrowers and that the $ 10,000 student debt cancellation “should be done immediately.”

Biden campaign website said the president would work with Democrats to “allow up to $ 10,000 in student debt relief per borrower” as part of COVID-19 relief, but the $ 1.9 trillion stimulus package of dollars sign in March did not include it. He also said he would support proposed legislation to write off $ 10,000 in student debt, but Senator Elizabeth Warren of Massachusetts said in a report. press call last month, it’s long and expensive, and although she has legislation to do it, there’s no reason Biden can’t use executive action to provide the immediate relief he had promised.

Warren campaigned on a larger number, calling for the cancellation of $ 50,000 in debt per person, and she and Senate Majority Leader Chuck Schumer urged Biden to do so. At a CNN town hall in February, Biden said he does not have executive power write off up to $ 50,000 in student debt per person, but said he was prepared to write off $ 10,000.

“My point is: I understand the impact of debt, and it can be debilitating,” Biden said at mayor. “I am ready to cancel the debt of $ 10,000 but not $ 50 [thousand], because I don’t think I have the power to do it. “

Biden has since asked the Department of Justice and the Education department to review its power to use executive action to cancel student debt, indicating that it can keep this promise. It can go even further, as the White House press secretary said in early April that the cancellation figure of $ 50,000 was not excluded. But nearly three months after starting his presidency, he has yet to act on this point.

Another plan Biden had to deal with student debt during his campaign was to forgive all federal student loans related to undergraduate tuition fees for borrowers from public colleges and universities earning up to $ 125,000 per year, and this would also apply to historically black private colleges and universities (HBCUs) and institutions in the minority service.

Debt forgiveness of borrowers who attended HBCUs would help close the racial wealth gap in the student debt crisis. Insider previously reported that 86.6% of black students take out federal student loans, compared to just 59.9% of white students.

This plan was modeled on Senator Bernie Sanders of Vermont and Representative Pramila Jayapal of Washington. College for All Act, introduced in 2017, which would make public colleges and universities tuition-free and reduce student debt.

“If we are to be successful in a highly competitive global economy and have the best educated workforce in the world, public colleges and universities must become free for working families and we must significantly reduce student debt,” said Sanders in a statement.

The Education Department has yet to release any information on this plan.

The ministry did not provide Insider with a timeline for the other cancellation measures.

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Scan QR Codes for Home Loans: Arvind Kumar Wed, 07 Apr 2021 23:16:04 +0000 The government has asked banks and financial institutions dealing with loans for the purchase of property to accept the building permit and registration certificate issued for constructions up to 500 m². since online authorizations are authorized under the new TS-bPASS (Telangana State Building Permission, Approval and Self-Certification System), to provide hassle-free services to citizens. The […]]]>

The government has asked banks and financial institutions dealing with loans for the purchase of property to accept the building permit and registration certificate issued for constructions up to 500 m². since online authorizations are authorized under the new TS-bPASS (Telangana State Building Permission, Approval and Self-Certification System), to provide hassle-free services to citizens.

The head of the state-level banking committee was tasked by the secretary of municipal administration and urban development, Arvind Kumar, to advise banking institutions to scan the QR codes provided in the online building permits and Instant recordings in progress, available in the new system instead of requesting a signed construction plan. copies of authorization from the local urban organizations (ULB) concerned.

In his detailed communication to the organizer, a copy of which was made available to the media, he explained that under the new rule: Instant registration – Any upcoming construction in a plot of 63 square meters or 75 meters squares of land or ground plus a floor up to seven meters in height do not require any authorization.

The owner, however, must register online upon payment of a symbolic amount of Re.1 and duly self-certify the title, plot size and floors. It does not require any certificate of completion or occupancy. Any plot larger than the allowable size stated above should not be divided for this arrangement and it may not be misused to make constructions in government plots, prohibited or contested land, after which action will be taken. taken in case of violation.

Instant Approval – For plots up to 500 square meters and a proposed building height of up to 10 meters, building permits will be processed in accordance with the TS-bPASS online in accordance with the provisions of the master plan, detailed planning diagram or of the local area plan. This will be in compliance with the construction rules in force and in the prescribed manner. If the required information is provided with all the necessary details, instant online approvals are given.

For these two categories, the government has given up issuing digitally signed copies of buildings and this self-certification system is based on the central government’s “Ease of Reform” system. Even if the applicant submits a construction plan, TS-bPASS will only issue a registration certificate and a building permit order if applicable, he said.

At the same time, the government will carry out a post-verification to ensure that applicants comply with the permissions granted and that all certificates presented are in order. A “start of work” order is only issued if the information provided is true and in accordance with the rules or a letter of revocation is issued. Therefore, banks can verify the post-verification status of applicants by scanning the QR code printed on the registration certificate or purchase order before processing loans.

For plots over 500 square meters and the proposed building height of over 10 meters for building permits for apartments, commercial complexes and the like, only one application is required to be submitted online to obtain certificates of non- objection by several government agencies under the “One Stop Shop” System, according to the communication.

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Cocoa Creek Chocolates to Bring Sweet Inventory to New Camp Hill Boutique Wed, 07 Apr 2021 23:15:51 +0000 Diane Krulac diversifies with a new sweet adventure. Founder of Brittle Bark in Mechanicsburg opens Cocoa Creek Chocolates September 12 at 18 S. 18th St. at Camp Hill. The shop will present the latest line of truffles, bars and caramels from Krulac. “We really hope and expect people to say, ‘Wow, I’ve never seen anything […]]]>

Diane Krulac diversifies with a new sweet adventure.

Founder of Brittle Bark in Mechanicsburg opens Cocoa Creek Chocolates September 12 at 18 S. 18th St. at Camp Hill. The shop will present the latest line of truffles, bars and caramels from Krulac.

“We really hope and expect people to say, ‘Wow, I’ve never seen anything like this in central Pennsylvania,’ she said.

Krulac manufactures the chocolates in micro-batches and focuses on “selected collections, clean ingredients and an elegant and playful visual appeal”.

A grand opening ceremony will take place at the store over several days starting at 12:30 p.m. on September 14 with an opening ceremony and a taste of shopping. The store will also be open on September 12 for Camp Hill’s Harvest Hop.

Krulac ventured into the candy business by accident after making peanuts brittle for a preschool bake sale. She invested $ 2,000 in the business (and more along the way) by first selling wholesale from home to local stores.

Her big break came when TV host Rachael Ray made Poppin ‘Time, a mix of popcorn, pretzels, peanut brittle bark, and chocolate, the show’s snack of the day. Suddenly, locals came knocking – literally – on the kitchen door of Brittle Bark in Mechanicsburg.

She opened the retail store in Mechanicsburg, where customers still buy fudge, chocolate-coated pretzels, wrapped candy, and the signature brittle bark.

Ten years ago, she sold Brittle Bark’s wholesale operations to Fry Communications. Left with time and the desire to switch from bark to chocolate, she developed her latest activity, Cocoa Creek. It is designed to showcase flavors from around the world.

“Like grapes, cocoa beans take on flavor and character from their source, and the cocoa that is made from these beans also has a distinctive taste of the region where it was roasted, blended and produced,” said Krulac said.

She sources her chocolate from about 18 different countries, some from small artisan bar bean companies that have relationships with plantation owners in the Dominican Republic, Haiti and other countries.

READ MORE: Popeyes Louisiana Kitchen opens new restaurant in Dauphin County

Some of Cocoa Creek’s star sweets include truffles such as black pepper balsamic strawberry, coconut cream pie, passion fruit, raspberry, and limoncello basil. Customers can choose from personalized boxes or pre-made collections like a four-piece Black Beauty with 70% dark chocolate truffles from France, Italy, Belgium and the United States.

Cocoa Creek will also feature monthly limited edition truffle collections, as an upcoming Halloween theme in October.

The line extends to Luther’s Trek Bars, named after Krulac’s Jack Russell Terrier in flavors like Ginger-Apricot, Lemon-Wild Blueberry and Ultra Violet with dried raspberries, pistachios and sweet violets. Caramels come in both savory and spirited varieties such as Almond Sea Salt, Hazelnut Caramel Coffee, Bourbon, and Spiced Rum.

For Krulac, Cocoa Creek keeps him from being bored.

“I don’t have big retirement plans, but I love what I do. It has legs. He will have a life. It’s something fun, ”she said.

Coca Creek chocolates are available online. The store’s opening hours for the opening week are 10 a.m. to 5 p.m. Tuesday (September 15), Wednesday (September 16) and Friday (September 18), 12 p.m. to 6 p.m. Thursday ( September 17) and 10 a.m. to 3 p.m. Saturday (September 19).

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Relief grants for restaurants start in 3 weeks Wed, 07 Apr 2021 23:13:53 +0000 AMSTERDAM – Senate Majority Leader Charles E. Schumer said on Tuesday that a $ 28.6 billion subsidy program created by Congress to boost struggling restaurants will begin serving customers in about three weeks . “What’s on the menu at Russo’s and so many other restaurants in our state?” Asked Schumer, standing outside Russo’s Bar and […]]]>

AMSTERDAM – Senate Majority Leader Charles E. Schumer said on Tuesday that a $ 28.6 billion subsidy program created by Congress to boost struggling restaurants will begin serving customers in about three weeks .

“What’s on the menu at Russo’s and so many other restaurants in our state?” Asked Schumer, standing outside Russo’s Bar and Grill in Amsterdam.

This was good news for owner Mike Russo, who said his restaurant was struggling, despite receiving a loan from the Paycheck Protection Program that helped support the business and its operations. 16 employees.

“It’s been a long year,” Russo said. “We didn’t make any money during the first few months of the pandemic. We just stayed open to keep our employees.”

Across the country, catering and hospitality businesses – like restaurants, bars and hotels – have been among the hardest hit by the pandemic, as people have been forced to stay at home and businesses shut down in the country. public. In an area that includes New York State, northern New Jersey and Fairfield County, Connecticut, leisure and hospitality businesses lost the most jobs – more than 750,000 – from February to April 2020, reported the Federal Reserve Bank of New York. About 50 percent of those jobs returned by October.

By mid-March, restaurants in New York City were able to start operating at 75% of their capacity, up from 50%.

Soon restaurants like Russo’s will be able to apply for additional help from the U.S. Small Business Administration, which will administer the Restaurant Revitalization Fund, providing grants of up to $ 5 million to restaurants across the country. This is a change for the SBA, which usually only offers loans, not grants.

According to the National Restaurant Association, the grants will be calculated by subtracting a restaurant’s 2020 gross receipts from their 2019 gross receipts. The SBA did not respond to an investigation into the restaurant’s program, which the agency is currently reviewing. finalize the details.

The SBA will deduct the value of any PPP loans a restaurant has previously received from the value of the relief grant, according to several sources. Restaurants can use this money to pay for payroll, mortgages or rent, utilities, supplies such as food and cleaning materials, employee sick days, and personal protective equipment.

Businesses that own more than 20 restaurants or are publicly traded cannot apply. But food trucks, caterers, bars, breweries, and tasting rooms can get the money.

Another SBA relief program to help theaters and arts venues will begin offering grants starting Thursday. Some $ 16.25 billion is available for distribution to museums, concert halls, zoos, cinemas and arts agencies. Subsidies will represent 45% of an operator’s gross income in 2016. As with the restaurant assistance program, previously obtained PPP loans will be deducted from the subsidies.

“The SBA understands that these sites are critical to the US economy and understands how badly they were affected because they were among the first to shut down,” said SBA administrator Isabella Casillas Guzman.

At the press conference with Schumer were Representative Paul Tonko, D-Amsterdam, Amsterdam Mayor Michael Cinquanti and Bob Purtell, a Montgomery County lawmaker.

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I admire what you do: Rahul Gandhi tells Kerala fishermen Wed, 07 Apr 2021 23:13:53 +0000 On Wednesday, Congress chief Rahul Gandhi became a sailor and pulled the net with a local deep-sea fisherman to get a taste of their lives and understand the issues they face. In a moving conversation with thousands of fishermen, including women gathered on Thangassery Beach in this southern coastal district, the descendant of Nehru said […]]]>

On Wednesday, Congress chief Rahul Gandhi became a sailor and pulled the net with a local deep-sea fisherman to get a taste of their lives and understand the issues they face.

In a moving conversation with thousands of fishermen, including women gathered on Thangassery Beach in this southern coastal district, the descendant of Nehru said he admires and respects what fishermen do.

“I understand and respect what you do. I admire what you do. Many times we eat fish but we won’t understand the hard work behind it and how it reaches our plate,” Gandhi said.

Previously, the MP for Wayanad ventured out to sea with fishermen in their boat from Vadi beach by 4.30am and spent nearly an hour with them before reaching the place of interaction .

MP Wayanad also threw the net with them but could only catch one squid.

Dressed in a blue t-shirt and khaki pants, the congressman could be seen waving his hands at spectators from the boat as he made his way back to shore.

Addressing fishermen as “brothers” throughout his speech, he said he wanted to get a feel for what many of them go through each day.

“I went to sea early in the morning with my brothers. From the moment the boat left the shore and until the moment it reached the shore, all forces tried to fight my brothers, ”he said.

Sharing his sailing experience with the fishermen, Gandhi said they were taking all the risk.

“They put in all their work and fight against the sea. They buy the net and someone else benefits from it,” he said.

They threw in the net and pulled it out and there was a squid in it, he said.

“So all the investment that went into the boat, into the trip, the gasoline in a minute, we saw that there was no return.

In my mind I expected a net full of fish and the net came back empty. So I saw your experience with my own eyes, ”Gandhi added.

Emphasizing the difficulties of fishermen, he said that the prices of gasoline and diesel are increasing every day and the fishing community cannot buy an engine beyond a certain size.

He said the fishermen told him that if they came an hour late they would not get the same price they would get if they came an hour earlier.

They also told him that they had no insurance.

“I have an idea of ​​what you’re dealing with. And now, when a fisherman comes to me to tell me he’s struggling, I kinda understand what he’s going through.

Of course, I will never understand your reality exactly. I only pulled the net for one day. You do it every day, ”Gandhi told the rally.

“They cooked fish on the boat. For the first time, I realized, directly with my own eyes, the difficulty of putting the fish on the plate, ”he declared to thunderous applause.

Noting that he wanted to work with them to make their lives easier, he also said that he might not be able to solve all of their problems, but he could definitely work with them and solve as many as possible. .

“Before leaving the boat, I asked the fishermen what their children were doing. They said their children didn’t want to be fishermen. Because it is too difficult and risky,” Gandhi added.

AICC General Secretary KC Venugopal and TN Prathapan MP, also President of the National Fishermen’s Congress, also accompanied him on his sea voyage.

Gandhi further stated that he would endeavor to have a separate ministry for fisheries at the Center.

“So that the problems of the fishing community can be defended and protected,” he said, adding that UDF leaders in the state would soon hold discussions with the fishermen to prepare a separate manifesto for them. in the next Assembly elections.

Taking a search in the LDF government apparently over the ongoing controversy over the alleged deep-sea fishing contract, the congressional leader said he would like to see what they were going to do with the trawlers.

“I am for competition … but not for unfair competition. So there should be a level playing field for everyone,” he added.

Gandhi’s interaction with fishermen is of importance as the Congress-led UDF has raised allegations against the left-wing state government over an alleged deep-sea fishing contract with a company based in the USA.

Following the controversy, Chief Minister Pinarayi Vijayan ordered relevant officials to rescind the memorandum of understanding between EMCC, the US-based company and the Kerala State Inland Navigation Corporation (KSINC), a public sector company and to investigate the circumstances under which it was signed.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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Bill Hwang’s $ 20 Billion Fortune Wiped Out (Gamifier Wall Street Has Real Consequences) Wed, 07 Apr 2021 23:13:53 +0000 The markets are finally emerging at the end of the pandemic tunnel … and what do the financial gods give us? The potential for another financial crisis is what. The unethical nature behind some of the biggest market events we’ve been through this year – including the GameStop madness and the Wall Street liquidation of […]]]>

The markets are finally emerging at the end of the pandemic tunnel … and what do the financial gods give us?

The potential for another financial crisis is what.

The unethical nature behind some of the biggest market events we’ve been through this year – including the GameStop madness and the Wall Street liquidation of Bill Hwang’s Archegos Capital Management firm this week – is once again the culprit.

Here is a brief summary of the events of the past week.

The sudden liquidation of Bill Hwang’s personal hedge fund, Archegos Capital, was caused by the fund’s creditors – believed to be Nomura Bank of Japan, Credit Suisse and Deutsche Bank – who made margin calls on Hwang’s billions in betting leveraged.

A leveraged bet means that you borrow money to buy stocks. This is called buying stocks on margin. It also means that at the discretion of your creditors, they can initiate a margin call, which means the investor must immediately cover their bets by placing additional funds in their account.

In the case of Bill Hwang and Archegos – the family hedge fund at the center of it all – Hwang has borrowed billions to make leveraged bets using complex derivatives and principles of gamification. When it became probable that his bets were not going to materialize, the banks paid off their debt. Hwang was called on margin and was forced to sell $ 20 billion in assets in multiple bulk deals last Friday.

Reports also say that this fire sale failed to cover all of its indebtedness (debt) last Friday, which is tantamount to defaulting on its loans to its lenders. That’s why Nomura and Credit Suisse both fell more than 14% until noon Tuesday.

In addition, the massive shift in ownership of money and assets has resulted in strong downward pressure. world markets.

This is the part that really bothers me. A lot of good people like you and me also feel pain, even if it has nothing to do with that action or the actions involved.

Maybe I woke up on the wrong side of the bed this morning, but it’s a Class A Iowa BS if you ask me.

Now don’t get me wrong. I have nothing against the ultra-rich. My # 1 goal is to help people like you get rich too. I want you to have a plethora of properties and a private jet. Heck, I want these things too.

Do I think any of us need (or should find a reason for wanting) five private planes? No, and when I say excessive greed, that’s as far as I mean.

And when I say things like Bill Hwang might be rich and able to buy favors from banks and regulators, but by no means do I think he’s a respectable investor, I’m not blaming the rich.

I admire people who do it the right way. Billionaires like Warren Buffett and Jack Ma are prime examples.

But I have little respect for Bill Hwang and Roaring Kitty – a guy who says he hates the big guys on Wall Street but secretly wants to be one.

And you know, what really bites my gears is the fact that I really have to pay attention to these people in order to keep our investments in the green.

The gamification of Wall Street

Wall Street’s gamification is here to stay, and we have to step up our efforts if we are to win.

the Stanford Encyclopedia of Philosophy defines game theory as “the study of how the interactive choices of economic agents produce results with regard to the preferences (or utilities) of these agents, where the results in question could not be wanted by any of the agents. “

Applying game theory to investing is called Wall Street gamification.

In truth, this story goes back a long way. Over the past 30 years, derivatives and other applications of game theory have become increasingly important in the financial world. The problem is that the increased use of these mechanisms is accompanied by increased market instability.

Those who have followed the sequence of events that created the 2008 financial crisis remember this fact too well. Derivatives amplified the damage from the 2006 housing collapse beyond fathom and in March 2008 the damage was catastrophic.

2008 Cost / Loss Crisis

My great fear at the moment is that Hwang’s reckless trading will be the first event in a series of many to tip us into yet another financial meltdown. After all, it took almost two years after the fall of the first domino in 2006 for it to manifest itself in the 2008 crisis.

Hopefully the reopening of trades and other market forces will help straighten out major indices, but I’m worried for now. Aside from selling the pandemic, I can’t recall such acute downward pressure since November 26, 2018, when the Dow Jones fell more than 12% in less than a month.

I’m not the type to worry. I just don’t trust regulators, hedge funds, or market anarchists to screw up hedge funds at all costs.

But I’m not going to let them win either. Game theory works both ways and for any player at the table.

Which brings me to my last thought for the day.

We can use game theory to beat these guys

The more people you have in your area who understand the ins and outs of how game theory works with investing, the better equipped you will be to take advantage of the new paradigms on Wall Street.

Things like The prisoner’s dilemma, which, if Hwang had any understanding, he might still have a few billion dollars in the bank.

Of course, there’s always more to Wall Street’s gamification than I could ever explain.

That’s why I hope you sign up for an upcoming webinar on April 8 to learn all about my colleague’s new game theory trading system.

You see, the big banks have invested billions of dollars to build complex trading platforms that use algorithms based on advanced game theory applications. These systems can predict market events with incredible accuracy. These systems are also how Credit Suisse managed to use its margins on Hwang before all the money evaporated, saving him billions in losses, while Hwang – one of the richest men in the world. world – lost everything.

Of course, it takes a computer genius and a market genius to create any of these algorithms.

But that’s exactly what my British colleague Ryle did. And unlike Hwang or Credit Suisse, Brit is going to show us how to use his Alpha targeting system to defeat the aforementioned bad actors on Wall Street.

I have already registered for Brit’s first webinar revealing her new Alpha targeting system, scheduled for Thursday, April 8.

I hope you will join me in the audience. The more we learn about game theory, the easier it will be to beat the streets at their own game.

You can register Here Now.

To your wealth,

Sean mccloskey
Editor, Energy and capital

follow basic@TheRL_McCloskey on Twitter

After spending 10 years in the consumer technology reporting and educational publishing industries, Sean has since been indebted to one of his original passions: identifying and leveraging the most lucrative opportunities in the market. . As the former editor of several investment newsletters, he has covered virtually every sector of the market, from energy and tech to gold and cannabis. Over the years, Sean has offered his followers the chance to score numerous triple-digit wins, and today he continues his mission of providing followers with the best chance at big wins on Wall Street and beyond. as editor for Energy and Capital..

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Invest to improve your skills Wed, 07 Apr 2021 23:13:53 +0000 Rising skills can help you develop your future, both professionally and financially. The pandemic has posed an unprecedented challenge not only for our health, but also for our professional life and our finances. With businesses closing, job cuts, pay cuts, the pandemic has caused financial upheaval that many may find it difficult to cope with. […]]]>

Rising skills can help you develop your future, both professionally and financially.

The pandemic has posed an unprecedented challenge not only for our health, but also for our professional life and our finances. With businesses closing, job cuts, pay cuts, the pandemic has caused financial upheaval that many may find it difficult to cope with. With the world changing rapidly, skills quickly become obsolete and the best way to thrive in this environment is to develop and sustain your career.

The Fourth Industrial Revolution brought about change in every industry, increasing the demand for new skills. According to the Future of Jobs report, by 2022, around 54% of employees around the world would need to requalify and upgrade.

Although learning on the job helps you hone your skills, but actively developing your skills by taking a relevant development course can proactively help you advance in your career, thereby generating higher income and more wealth at the workplace. over time.

The rise in competence has become easier

Taking a refresher course is easy as many companies are now taking the online route, offering training in the form of a virtual classroom, e-learning content, micro-learning modules, and more. Towards the end of the course, the candidate receives a certification of completion or excellence which is strong evidence of skill development. Moreover, India’s edtech sector is also booming with companies like UpGrad, AttainU, Board Infinity offering a plethora of courses for every type of industry in association with the best universities in the world. The edtech companies also play a role of intermediary between recruiters and professionals taking the course.

Gateway to better opportunities

Companies are now looking for a digitally agile workforce. Taking refresher courses in AI, machine learning, robotics, data science, and digital marketing helps you improve your skills, allowing you to meet challenges and stay relevant to the job. In addition, you can also take refresher courses in areas such as health and beauty, cooking, childcare, management and others.

Assess the skills you need

How you choose the skills you need highly depends on the industry and organization you work with or aspire to work for. However, choosing the course that matches your profile is key, as it will help you improve your skills, contribute more, and further increase your chances of earning more financial benefits. To understand the skills you need to master, brainstorm and create a list of the things you want to achieve. Think about the artist you admire? What lifestyle do you want to lead? What skills excite you the most? You can also attend a career counseling session to gain clarity or take a psychometric test to understand this would also help you make a decision.

Find the right course

When looking to invest in skills upgrading, taking trending courses seems like a lucrative option. In the midst of the skyrocketing course, you might get confused to find the right course. Therefore, you need to evaluate various career options, the flexibility of the part-time or full-time course, check the reviews, understand the scope of the topics covered, do a brief comparison, and even do a cost comparison. Talk to professionals who have taken the course before to better understand what you can expect from it. Evaluate if the course would help you get the job of your dreams or help you get a bigger role in your current organization.

Finding Financing Options

With the increasing demand for refresher courses, many lenders have now started to offer loan facilities, allowing professionals to take the course of their choice without worrying about fees. Employed professionals or job seekers with no credit history or a low credit rating can apply for a loan even with a score as low as 650. Financial technology and credit card companies offer “no credit” facilities. EMI Fee and Easy ”for refresher courses, providing instant approvals and disbursements, making it easy for the candidate to start the course. The loans for these courses are given for a term of 3 to 36 months, which allows individuals to repay the amount easily without hassle.

In addition, many fintech players work on the basis of a revenue sharing agreement where the professional taking the course can pay the IME after getting a job.

Watch your income grow

Rising skills can help you develop your future not only professionally, but also financially. You can expect 30% to 60% profit growth, which can help you build a strong financial body! Most importantly, increase your confidence and the longevity of your career by learning the right skills.

The author is founder – Credit Fair

DISCLAIMER: The opinions expressed are those of the authors and Outlook Money does not necessarily endorse them. Outlook Money will not be liable for any damages caused to any person / organization directly or indirectly.

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4 takeaways from the U.S. employment plan’s water utility Wed, 07 Apr 2021 23:13:53 +0000 Water utility managers and their community partners discussed the US employment plan with Michael Regan, director of the EPA, at a panel discussion US EPA Director Michael Regan hosted a roundtable with utilities and their community partners across the country to discuss the water and wastewater elements of the U.S. Jobs Plan on 5 April. […]]]>

Water utility managers and their community partners discussed the US employment plan with Michael Regan, director of the EPA, at a panel discussion

US EPA Director Michael Regan hosted a roundtable with utilities and their community partners across the country to discuss the water and wastewater elements of the U.S. Jobs Plan on 5 April.

This American Jobs Plan is a $ 2 trillion proposal by President Joe Biden, which includes $ 111 billion in funding for water and sanitation programs in the United States. unanimous support from industry associations such as the Water Environment Federation, the American Water Works Association, the Association of State Drinking Water Administrators and the National Association of Clean Water Agencies.

In his remarks to the roundtable, Regan said funding for water and sewer systems is long overdue and the federal partnership is vital.

“Local leaders across the country are grappling with the challenge of doing more with less while maintaining vital water services. They are tirelessly working on new solutions to meet the water needs of their communities, ”said Regan. “Today’s discussion highlighted that local leaders need a stronger federal partner in water infrastructure. The U.S. Jobs Plan would do just that while providing the resources communities desperately need to provide essential water service for all.

The roundtable included input from 13 municipal and utility leaders from across the country and six community partners. The water and wastewater professionals each had a moment to share their thoughts and also passed on their time to their community partners to share their thoughts and vision for the proposed funding. Below are four takeaways from the roundtable.


1. Fair and affordable practices

The second and third most common terms used by utility leaders during the roundtable were fairness and affordability. Water equity and water affordability have been terms of great importance to the one water movement championed by the US Water Alliance, whose former CEO is now Acting Deputy Administrator of EPA Radhika Fox. It was clear from the roundtable that his influence had an impact on the language and messages discussed by public service managers and their partners.

Jim Lochhead, CEO of Denver Water, said communicating with low-income communities and communities of color is an important aspect of his current mission. This allows Denver Water to gain confidence by making and keeping its promises.

“We cannot be successful without the community,” he said.

Co-executive director of Milwaukee Water Commons Brenda Coley said sources of funding in the U.S. jobs plan should require elements of diversity.

“Investments in water infrastructure should compel beneficiaries to monitor and report diversity,” she said, adding that such requirements would ensure equity in the workforce in addition to equitable outcomes for workers. finished projects.

On a related note, Tony Parrott, executive director of the Louisville Metropolitan Sewer District, also stressed that funding for infrastructure in the water sector must be designed with equity in mind.

“As we roll out the president’s plan, we really have to do it with equity in mind,” Parrot said. “We need to make sure it supports the inclusion of minority women-owned businesses.”

Community partner Sadiqa Reynolds, President and CEO of the Louisville Urban League, shared the sentiment of those on the call. She said that while it is important to ensure equitable results, equity must also be a priority when hiring, contracting, tendering and executing the project.

2. Hiring and job creation

One of the most critical challenges facing the industry as a whole is the shortage of skilled workers. Commercial work in all industries has been difficult to find as American society charges its young people to attend college and attend higher education institutions. But for water and sewer systems, there are many opportunities for those who would prefer not to take this route. Comments from panelists highlighted how the U.S. Jobs Plan could be a way to accelerate the recruitment of the next generation of workers.

Mami Hara, chief executive and CEO of Seattle Public Utilities, said 34% of her job pool is expected to retire in the next few years. Money like that proposed in the infrastructure bill, she said, is “essential and essential” for public awareness and education programs to fill these inevitable vacancies.

Lochhead shared a similar experience. In 2020, Denver Water’s main service line replacement program replaced 5,200 lines. Due to the volume of work, he noted that this had also resulted in 300 job opportunities.

Corey Braxton, small community superintendent for the Hampton Roads Sanitation District, said the US Jobs Plan money would be crucial for hiring and education programs. He noted that HRSDC has an apprenticeship program and that the funding allocated in the infrastructure plan would ensure the longevity of this program while meeting fair hiring goals.


3. Sustainable and long-term financing

One of the priorities of the comments raised by utility leaders and their partners was that funding must be sustainable over the long term. While an injection like the one in the US Jobs Plan is important for water and wastewater workers, it is also vital to ensure that programs are funded well into the future.

Cathy Bailey is the Executive Director of the Greater Cincinnati Water Works. She noted that infrastructure funding required creative solutions for her and her city. One of those options, she said, was to apply cell tower revenues to community infrastructure improvements.

“This funding would be a game changer, certainly for Cincinnati,” Bailey said.

Ted Henifin, general manager of Hampton Roads Sanitation District, also played on this point. He said the industry must move away from reliance on grants and loans, as long-term, sustainable investments will produce the best results for all. Subsidies have their place and should be part of the plan, but he noted that excessive reliance on them creates a framework for competition rather than solidarity.

4. Resilience and climate change

“Climate change is real, and so are the challenges of providing a population with resilient infrastructure,” said Yvonne Forrest, director of Houston Public Works.

Forrest described the hardships Houston has faced due to extreme weather events over the past five years. Hurricane Harvey was the wettest cyclone on record for the continental United States and communities are still recovering from the effects more than three years later. And just earlier this year, Houston also suffered havoc at the hands of Winter storm Uri, which has stressed the power grid beyond its breaking point and led millions of Texas to go without water for weeks.

Kristen Schlemmer, Legal Director of Bayou City Waterkeeper, represented the Environmental, Equity and Resilience Coalition (CEER) Houston on call. She said storms like the ones Houston has experienced affect low-income communities and families of color the most. This poses enormous obstacles to their personal, financial and family recovery from the storms, including access to clean water and functioning sewage systems.


Final remarks

After nearly 50 minutes of conversation with leaders in the water industry, Regan made some closing remarks before answering questions.

“You’ve been in this business for a long time,” Regan said. “It was your voices and your advocacy that led to this vision of the US Jobs Plan.”

He also noted that with Fox at the helm, he has high expectations that he is sure she will meet. She is, he said, “the perfect person for this job right now.”

Responding to questions from the media, Politico’s Annie Snider asked how the infrastructure plan will work with regulatory initiatives, including that of the Revision of the lead and copper rule. Regan said the regulatory framework on the table worked hand in hand with the funding targets of the US Jobs Plan. With increased regulation expected of the LCRR, increased funding is vital. In this way, he said that the two pieces complement each other.

Hannah Northey, Politico E&E reporter, asked about the impact of grants versus loans in the plan. Fox said feedback is the guiding force behind leads.

“We are really looking forward to hearing from water utilities and community leaders talk about the challenges and if they are not able enough to access our grant and loan programs,” she said.

WWD Editor-in-Chief Bob Crossen asked about Waste, storm water and clean water, as much of the plan’s attention is focused on removing lead and replacing lead service lines.

“There is $ 56 billion on offer under the water component of the US Jobs Plan and a good chunk of that would go to Clean Water SRF,” Fox said.

The final words of EPA director Regan provided further encouragement on the future of water and wastewater infrastructure in the United States.

“It’s been too long since you’ve had your day in the sun,” Regan said.

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