Lender Offers – Win Win Lose http://winwinlose.net/ Sat, 25 Sep 2021 01:19:31 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://winwinlose.net/wp-content/uploads/2021/06/icon-9.png Lender Offers – Win Win Lose http://winwinlose.net/ 32 32 Interest-bearing crypto crackdown is bigger than Coinbase https://winwinlose.net/interest-bearing-crypto-crackdown-is-bigger-than-coinbase/ https://winwinlose.net/interest-bearing-crypto-crackdown-is-bigger-than-coinbase/#respond Sat, 25 Sep 2021 00:47:00 +0000 https://winwinlose.net/interest-bearing-crypto-crackdown-is-bigger-than-coinbase/ Earn from Dean Seal (2 crypto products. The largest U.S. cryptocurrency exchange silently canceled its proposed lend program about two weeks after Coinbase executives claimed in online posts that the federal securities regulator had raised concerns about the program – which would have allowed customers to sell their holdings of cryptocurrencies Lending the US dollar […]]]>
Earn from Dean Seal (2 crypto products.

The largest U.S. cryptocurrency exchange silently canceled its proposed lend program about two weeks after Coinbase executives claimed in online posts that the federal securities regulator had raised concerns about the program – which would have allowed customers to sell their holdings of cryptocurrencies Lending the US dollar in exchange for 4% interest – securities laws implied.

The SEC announced that it intended …

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How to get a 720 credit score car loan https://winwinlose.net/how-to-get-a-720-credit-score-car-loan/ https://winwinlose.net/how-to-get-a-720-credit-score-car-loan/#respond Fri, 24 Sep 2021 11:32:23 +0000 https://winwinlose.net/how-to-get-a-720-credit-score-car-loan/ When you buy a car loan with a credit score of 720 or higher you are in a strong position. A credit score of 720 is considered good by almost every lender. But while 720 is a good enough credit score for a car loan, if you can improve your credit score before you apply, […]]]>

When you buy a car loan with a credit score of 720 or higher you are in a strong position. A credit score of 720 is considered good by almost every lender. But while 720 is a good enough credit score for a car loan, if you can improve your credit score before you apply, you can potentially cut your costs and save money.

Here are the steps you can take to maximize your credit score and buy the best car loan.

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Check your credit report

Before applying for a car loan (or even if you are opting for a personal loan to buy a car), make sure that your credit report is correct. Many people find errors in their credit reports, and some errors can lower your score. You don’t want to get stuck paying a higher interest rate just because of a mistake.

You can get copies of your credit reports from all three major credit reporting agencies by visiting AnnualCreditReport.com. If you find inaccurate information, follow the agency’s online process to request corrections.

Check your creditworthiness

There are many ways to check your credit score for free:

  • Free Credit Score Website: Several consumer websites and financial institutions offer free credit ratings online. These are usually VantageScores.
  • Free FICO score from your bank or credit card issuer: Some banks and credit card companies, including Bank of America, Wells Fargo, and Citi, offer free FICO scores to their credit card holders when they log into their account online. Discover gives everyone a free FICO score, even if you don’t have a Discover account.
  • Free FICO Score From A Credit Bureau: Experian offers free FICO scores to anyone who signs up for an account (free or premium).

When you check your creditworthiness in multiple places, don’t expect the results to be all the same. That’s because your score can vary depending on which agency calculates it and which model (FICO or VantageScore) it uses. To make matters even more interesting, there are several versions of FICO and several different versions of VantageScore. So don’t worry if you see a number of scores.

The main reason to familiarize yourself with your score before applying for a car loan is that you may be able to improve it before applying. A credit score of 720 is near, but not quite, the excellent credit range.

Virtually all free credit scores contain information about the factors that affect your score. For example, if your creditworthiness is being affected by your credit load (how much revolving debt you have compared to the credit limit on your credit cards), you can call your credit card issuer and ask for an increase in the limit. As long as your balance doesn’t increase, the higher credit limit can improve your score.

Buy the best credit

Here’s what steps to take when applying for a car loan.

Apply to multiple lenders

Apply to at least two or three lenders (or many more if you’d like) to compare terms. Make sure to apply for pre-approval for the loan when applying (not pre-qualified). This means that the lender will review your personal information and do a credit check.

Find out the lenders’ restrictions

Some loans are only available for purchasing a car from a specific dealer or manufacturer. Some loans are only for used cars, while others are for new cars. Most pre-approvals have an expiration date. Make sure that you are aware of the restrictions that come with every loan that you apply for.

Apply within 2 weeks

Typically, your score can drop a few points each time you apply for a loan. Exceptions are applying for certain types of credit, including auto loans. The credit rating agencies understand that you need to apply to multiple lenders to compare quotes so that you all get a price-shopping window. During this window, all auto lender requests are counted as a single hard request for your credit score.

Car loan requests are completely ignored by FICO for 30 days. The interest buying window is then between 14 and 45 days, depending on the scoring model. Lenders have to pay for scoring models, and they don’t update every time a new one is released. Since you don’t know what score a lender will use, it’s best to apply for and compare loans within 14 days – the smallest interest buying window – just to be on the safe side.

Consider a wide variety of lenders

Don’t forget to check with the merchant in addition to any banks, credit unions, or online lenders you are considering. Sometimes the dealer is ready to beat or beat any financing offer you accept. However, this is difficult terrain. Car dealerships are notorious for adding unwanted costs to your contract, such as prepaid maintenance or additional insurance coverage.

Shop under your loan amount

All cars require maintenance and fuel (either gas or electricity), plus you pay taxes and registration fees. And then there is car insurance. So keep in mind that the loan isn’t the only line item you add to your budget. When deciding how much car you can afford, consider the other running costs as well.

Protect your funds

A car loan does not add to your loan utilization rate as it is based on a revolving loan. But it plays an important role in:

  • A healthy mix of loans (the types and variety of loans you use)
  • Your payment history (the most important factor in your creditworthiness)
  • Your credit age (after you have paid off your car loan in good condition, it will have a positive effect on your creditworthiness for another 10 years)

This is why it is important to be responsible with a car loan and to make sure what you are getting yourself into before getting one.


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FreedomPlus Personal Loans Review 2021 – Forbes Advisor https://winwinlose.net/freedomplus-personal-loans-review-2021-forbes-advisor/ https://winwinlose.net/freedomplus-personal-loans-review-2021-forbes-advisor/#respond Thu, 23 Sep 2021 19:22:20 +0000 https://winwinlose.net/freedomplus-personal-loans-review-2021-forbes-advisor/ The best personal loans offer competitive rates, flexible loan amounts, and a wide range of terms. Here’s how FreedomPlus personal loans compare to other popular lenders: FreedomPlus vs. SoFi SoFi personal loans start at $ 5,000 and range up to $ 100,000 depending on the purpose of the loan, which makes them much more flexible […]]]>

The best personal loans offer competitive rates, flexible loan amounts, and a wide range of terms. Here’s how FreedomPlus personal loans compare to other popular lenders:

FreedomPlus vs. SoFi

SoFi personal loans start at $ 5,000 and range up to $ 100,000 depending on the purpose of the loan, which makes them much more flexible than loans available through FreedomPlus. And while SoFi APRs (around 6% with Autopay) start near the minimum rates available through FreedomPlus, they only reach around 20% with Autopay – around 10 points lower than FreedomPlus’ maximum APRs. SoFi does not charge any commitment fees either, which makes it different from FreedomPlus’ more expensive loans.

Related: SoFi Personal Loan Review

FreedomPlus vs. LightStream

LightStream personal loans range from $ 5,000 to $ 100,000 – double that available through FreedomPlus – depending on the purpose of the loan. Additionally, LightStream’s APR starts at under 3% with autopay for certain loan purposes and only increases to around 20%. For these reasons, LightStream is the more flexible and affordable option for qualified borrowers who want access to large loans at competitive rates.

As with FreedomPlus, LightStream loan terms start at just two years, but can range up to 12 years depending on the loan size, purpose and creditworthiness of the borrower. In addition, LightStream does not charge any deployment fees, which further increases the savings over FreedomPlus’ personal loan.

Related: LightStream Personal Loan Review

FreedomPlus vs. Update

Upgrade offers borrowers personal loans with a minimum credit score of just 580, even below the minimum required by FreedomPlus. Additionally, Upgrade offers the same maximum loan amount as FreedomPlus – $ 50,000 – and borrowers can access minimum loan amounts as low as $ 1,000 and repayment terms of up to seven years.

Nevertheless, Upgrade charges commitment fees between 2.9% and 8% of the loan amount (higher than those imposed by FreedomPlus) and maximum APR of 36% (about six points higher than the maximum APR of FreedomPlus).

Related: Upgrade personal loan verification


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The District Court ruling enables lender strategies in forbearance cases – bankruptcy / bankruptcy / restructuring https://winwinlose.net/the-district-court-ruling-enables-lender-strategies-in-forbearance-cases-bankruptcy-bankruptcy-restructuring/ https://winwinlose.net/the-district-court-ruling-enables-lender-strategies-in-forbearance-cases-bankruptcy-bankruptcy-restructuring/#respond Wed, 22 Sep 2021 21:23:27 +0000 https://winwinlose.net/the-district-court-ruling-enables-lender-strategies-in-forbearance-cases-bankruptcy-bankruptcy-restructuring/ After a loan default, borrowers and guarantors often make a variety of claims and defenses to improve their bargaining power. A recent ruling from the U.S. Fifth District Court of Appeals1 provides a prime example of this scenario and a lender’s successful arguments for rejecting these claims on the borrower’s side. In Lockwoodthe court refused […]]]>

After a loan default, borrowers and guarantors often make a variety of claims and defenses to improve their bargaining power. A recent ruling from the U.S. Fifth District Court of Appeals1 provides a prime example of this scenario and a lender’s successful arguments for rejecting these claims on the borrower’s side. In
Lockwoodthe court refused to invalidate a personal guarantee and used a high standard of coercion contesting loan agreements. Equally important, the Court concluded that lenders had a right to insist that defaulting borrowers hire a senior restructuring officer. the
Lockwood The opinion also serves as an important reminder of how lenders can use loan forbearance to their strategic advantage.

Facts about Lockwood

In Lockwood, several affiliates (collectively, the “Borrowers”) have entered into revolving credits (collectively, the “Bonds”) that represent loans made by two lenders (collectively, the “Lenders”). After the Borrowers breached some of their obligations, the Lenders required that the sole owner of the Borrower (the “Guarantor”) provide a personal guarantee (the “Guarantee”) for the outstanding debt. The lenders also recommended or insisted, as the borrowers claim, that borrowers should retain a chief restructuring officer (“CRO”) to help reorganize businesses.

After this restructuring, borrowers’ finances continued to deteriorate and they defaulted again. Lenders issued an ultimatum to borrowers: give the CRO full authority to conduct the business or threaten to withdraw collateral and accelerate the loan. The borrowers agreed and gave the CRO full authority to “properly size their deals”. To avoid speeding up, the Borrowers and the Guarantor have also signed a deferral agreement in which the Guarantor: (i) acknowledges that its obligations under the Guarantee are lawful, valid and binding; and (ii) waived any objection or claim against the Lenders. As this deferral agreement was due to expire, the Guarantor and the Borrower signed a second deferral agreement containing similar provisions and waivers.

After the second deferral agreement had expired, protracted legal disputes arose. The lenders tried to enforce the notes and the guarantee. For their part, the borrowers and the surety asserted numerous tort claims against the lender. The guarantor argued, among other things, that he had been fraudulently induced to sign the guarantee. The court of first instance concluded that the waiver and indemnification provisions in the forbearance agreements precluded any right to fraudulent incitement.2 In the appeal, the surety focused on his coercive argument, claiming that economic coercion forced him to guarantee the debt and carry out the forbearance agreements. He alleged that if he did not give full authority to the CRO, the lenders would have wrongly threatened him with a credit hurry.

Lockwoods Holding

The Fifth Ward rejected this argument, stating that financial distress does not mean coercion. Although the lenders used their bargaining power to obtain a delegation of powers to a CRO, the court argued that the use of leverage “is what negotiation is about”. Much of the basis for this participation lay in commercial realities and public order. the
Lockwood The court recognized that many loans would be countervailable if a financial hardship resulted in a forced defense. The court also found that forbearance options would be limited if a distressed borrower could later invalidate the forbearance documents because of economic pressure at the time they were executed.

In order to establish coercion, the court ruled that the defending party must prove: (i) the lender threatened something to which it was not legally entitled; (ii) unlawful extortion or fraud or deception; and (iii) an imminent restriction that destroys the victim’s freedom of action and leaves them without means of protection.

The guarantor’s coercive defense failed to meet the first element as there was no evidence that the lenders threatened illegal action. What is important is that the court found that the surety did not demonstrate that the lenders had “no legal right” to require the companies to authorize the CRO. It is important that the court instructed:

We are also not aware of anything that prevents a lender from requesting a change in management as a condition for a loan change.

Lockwood‘s lessons

the Lockwood Decision is important for several reasons. First, the ramifications of this case may be beyond the jurisdiction of the Fifth Circuit, a respected federal appeals court. The expert opinion offers a compelling power of persuasion that can be followed in other legal systems.

With regard to compulsory avoidance, the court set a high standard that borrowers and guarantors must meet in order to invalidate loan documents. In fact, it will be a rare occurrence where a borrower can prove that their lender was involved in illegal or fraudulent behavior.

Although the Lockwood In a decision that focuses on coercion, the court’s reasoning can be used to thwart other claims and defenses. For example the Lockwood The court held that an unequal negotiating position did not result in an actionable claim. Lenders can rely on this justification to undermine claims and objections based on a borrower’s financial distress.

Additionally, the appraisal provides an important reminder of how the forbearance process can be used to isolate lenders from claims and objections. Waiver and exemption provisions are an important part of deferral documents. As this case shows, such provisions prove to be an effective means of fending off objections and claims after payment default.

LockwoodThe discussion regarding the retention of the CRO is also imperative. In lender liability suits, borrowers often argue that their lenders exercised “improper control” or improperly interfered with the running of the company. As noted above, the court recognized that the lenders had the right to request a change in management in return for deferring loans. Lenders may argue that this waiver also applies to lender liability claims based on a request from a lender for a change in management or the appointment of a CRO.3

Footnotes

1. Lockwood International, Inc. v Wells Fargo Bank, NA, et al., 2021 WL 3624748 (5NS Circ. 2021).

2. A guarantee that can otherwise be challenged due to fraudulent induction or coercion can no longer become invalid after ratification. Lee v. Wal-Mart Stores, Inc.,943 F.3d 554, 560 n.11 (5NS Circ. 1991)

3. The Lockwood The opinion did not specify whether the lender was hiring a particularly CRO or whether borrowers are free to choose their own candidate. This can be a critical difference in any lender liability lawsuit. In addition, when evaluating the use of a CRO or other legal remedy, lenders should consider potential claims that may be brought by unpaid creditors who claim that the lenders have exercised extensive control over the borrowers and, as such, the unpaid debts of the creditors be liable .

The content of this article is intended to provide general guidance on the subject. Expert advice should be sought regarding your specific circumstances.


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Mortgage rates are rising today | 09/22/2021 https://winwinlose.net/mortgage-rates-are-rising-today-09-22-2021/ https://winwinlose.net/mortgage-rates-are-rising-today-09-22-2021/#respond Wed, 22 Sep 2021 12:53:32 +0000 https://winwinlose.net/mortgage-rates-are-rising-today-09-22-2021/ The average 30-year fixed-rate mortgage rate is up 3.251% today, a slight increase from yesterday. The interest rate on a 30-year refinance was also higher today, rising to 3.386%. All other categories of fixed rate loans also saw interest rate increases, while variable rate mortgages saw mixed interest rates. Although interest rates are a bit […]]]>

The average 30-year fixed-rate mortgage rate is up 3.251% today, a slight increase from yesterday. The interest rate on a 30-year refinance was also higher today, rising to 3.386%. All other categories of fixed rate loans also saw interest rate increases, while variable rate mortgages saw mixed interest rates.

Although interest rates are a bit higher today, they are still attractive to creditworthy borrowers, whether it’s applying for a new mortgage or refinancing their current home loan.

  • The most recent interest rate on a 30-year fixed-rate mortgage is 3.251%.
  • The most recent interest rate on a 15-year fixed-rate mortgage is 2.365%.
  • The latest rate on a 5/1 Jumbo ARM is 2.195%.
  • The latest rate on a 7/1 compliant ARM is 3.869%.
  • The latest rate on a 10/1 compliant ARM is 3.585%.

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 – roughly the national average – could pay if he or she applies for a home loan now. Daily rates are based on the average price that 8,000 lenders offered applicants on the previous business day. Freddie Mac’s weekly interest rates will generally be lower as they measure the interest rates offered to borrowers with higher creditworthiness.

Current mortgage rates: 30-year fixed rate mortgages

  • The 30-year rate is 3.251%.
  • This is a day inwrinkle of 0.007 percentage points. ⇑
  • That’s a month dewrinkle of 0.001 percentage points. ⇓

Most borrowers are attracted to fixed-rate mortgages because of their constant interest rates and monthly payments. The 30 year loan is the number one choice for many because of its long payback period, which results in lower monthly payments compared to shorter loans. On the other hand, the interest rate tends to be higher, which means you will pay more in the long run.

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Average mortgage rates

Data is based on U.S. mortgage loans completed on 9/21/2021

Credit type 21st September Last week Change
15 years firmly conventional 2.37% 2.34% 0.03%
Firmly conventional for 30 years 3.25% 3.25% 0.0%
7/1 ARM rate 3.87% 3.81% 0.06%
10/1 ARM rate 3.59% 3.79% 0.2%

Your actual price may differ

Current mortgage rates: 15 years fixed rate Mortgage rates

  • The 15-year rate is 2.365%.
  • This is a day inwrinkle of 0.005 percentage points. ⇑
  • That’s a month dewrinkle of 0.009 percentage points. ⇓

Due to the shorter amortization period of a 15-year fixed-rate loan, the monthly payments are higher than for a similarly sized 30-year loan. However, the interest rate tends to be lower. So if you can afford the higher payments, you can save money by paying less interest.

Current Mortgage Rates: 5/1 jumbo floating rate mortgage rate

  • The 5/1 ARM rate is 2.195%.
  • That is unchanged from yesterday’s course. ⇔
  • That’s a month inwrinkle of 0.04 percentage points. ⇑

Instead of a fixed rate loan, you can opt for a variable rate mortgage. ARMs will start with a low, fixed introductory rate that will eventually become variable and adjusted on a regular basis. This means that the monthly payments are fixed initially but change with the rate.

For example, a 5/1 ARM has a fixed rate for five years. After that, the rate is reset every year. You can find ARMs in a number of different terms.

Current mortgage rates: VA, FHA, and jumbo loan rates

The average interest rates on FHA, VA, and Jumbo loans are:

  • The interest rate on a 30 year FHA mortgage is 2.993%. ⇑
  • The interest rate on a 30 year VA mortgage is 3,008. ⇑
  • The interest rate on a 30 year jumbo mortgage is 3.34%. ⇓

Current mortgage lending rates

The average interest rates for 30 year loans, 15 year loans, and 5/1 jumbo ARMs are:

  • The refinancing rate for a 30-year fixed-rate refinancing is 3.386%. ⇑
  • The refinancing rate for a 15-year fixed-rate refinancing is 2.482%. ⇑
  • The refinancing rate for a 5/1 Jumbo ARM is 2.467. ⇔
  • The refinancing rate for a 7/1 compliant ARM is 4.31%. ⇑
  • The refinancing rate on a 10/1 compliant ARM is 3.816%. ⇓
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Average mortgage refinancing rates

Data is based on U.S. mortgage loans completed on 9/21/2021

Credit type 21st September Last week Change
15 years firmly conventional 2.48% 2.46% 0.02%
Firmly conventional for 30 years 3.39% 3.37% 0.02%
7/1 ARM rate 4.31% 4.32% 0.01%
10/1 ARM rate 3.82% 3.85% 0.03%

Your actual price may differ

Where are mortgage rates going this year?

Mortgage rates fell by 2020. Millions of homeowners responded to the low mortgage rates by refinancing existing loans and taking out new ones. Many people bought houses that they might not have been able to afford at higher prices.

In January 2021, rates briefly fell to their lowest level on record, but trended higher over the course of the month and into February.

Looking ahead, experts assume that interest rates will continue to rise in 2021, but modestly. Factors that could affect rates include how quickly the COVID-19 vaccines will be distributed and when lawmakers can agree on another economic aid package. More vaccinations and government incentives could lead to improved economic conditions, which would raise rates.

While mortgage rates are likely to rise this year, experts say the rise won’t come overnight and won’t be a dramatic jump. Interest rates should stay near historically low levels in the first half of the year and rise slightly later in the year. Even when interest rates rise, it’s still a good time to buy a new home or refinance a mortgage.

Some of the factors that affect mortgage rates include:

  • The Federal Reserve. When the pandemic hit the United States in March 2020, the Fed took swift action. The Fed announced plans to keep money flowing through the economy by lowering the short-term federal fund interest rate to 0% to 0.25%, which is as low as they go. The central bank also promised to buy mortgage-backed securities and government bonds to prop up the real estate finance market. The Fed has reaffirmed its commitment to this policy several times for the foreseeable future, most recently at a monetary policy meeting at the end of January.
  • The 10-year treasury note. Mortgage rates are moving in lockstep with the yields on the government’s 10-year government bond. Yields fell below 1% for the first time in March 2020 and have been rising slowly since then. Yields are currently above 1% since the beginning of the year, which is driving interest rates up slightly. On average, there is typically a 1.8 point spread between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. Low employment and GDP growth means the economy is weak, which can drive interest rates down. Thanks to the pandemic, unemployment hit an all-time high early last year and has not yet recovered. GDP also fell, and although it has recovered somewhat, there is still plenty of room for improvement.

Tips for the lowest possible mortgage rate

There is no one universal mortgage rate that all borrowers get. Qualifying for the lowest mortgage rates takes a bit of work and depends on both personal financial factors and market conditions.

Check your credit history and credit report. Mistakes or other warning signs that can drag your credit score down. Borrowers with the highest creditworthiness get the best interest rates. Therefore, it is important to check your credit report before you start looking for a home. Taking steps to fix bugs can increase your score. If you have a high credit card balance, paying off can be a quick boost too.

Save money on a sizeable down payment. This will lower your loan-to-value ratio, ie how much of the house price the lender has to finance. A lower LTV usually means a lower mortgage rate. Lenders also want to see money that has been stored in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best price. Don’t settle for the first rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rates. In addition to traditional banks, consider different types of lenders, such as credit unions and online lenders.

Also, take the time to read up on the different types of credit. While the 30 year fixed rate mortgage is the most common mortgage, consider a shorter term loan such as a 15 year loan or an adjustable rate mortgage. These types of loans often have a lower interest rate than a traditional 30 year mortgage. Compare the cost of each to see which one best fits your needs and financial situation. Government loans – such as those supported by the Federal Housing Authority, the Department of Veterans Affairs, and the Department of Agriculture – can be cheaper options for those who qualify.

Finally, secure your tariff. Locking your interest rate once you find the right interest rate, loan product, and lender will ensure that your mortgage rate does not go up before you take out the loan.

Our mortgage rate method

Money Daily Mortgage Rates show the average rate offered by over 8,000 lenders in the United States for whom the latest business daily rates are available. Today we are showing prices for Tuesday, September 21, 2021. Our interest rates reflect what a typical borrower with a credit score of 700 currently expects to pay for a home loan. These prices were offered to people off 20% and include discount points.

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Will every mortgage lender soon have a cash offer product? https://winwinlose.net/will-every-mortgage-lender-soon-have-a-cash-offer-product/ https://winwinlose.net/will-every-mortgage-lender-soon-have-a-cash-offer-product/#respond Tue, 21 Sep 2021 21:54:18 +0000 https://winwinlose.net/will-every-mortgage-lender-soon-have-a-cash-offer-product/ Prior to the pandemic, when not every new listing appeared to spark a bidding war, Evergreen Home Loans was on the verge of launching a cash offer program in Washington state. Bellevue-based Evergreen is a regional independent mortgage lender licensed in 10 western states that prides itself on providing real estate agent services – 70 […]]]>

Prior to the pandemic, when not every new listing appeared to spark a bidding war, Evergreen Home Loans was on the verge of launching a cash offer program in Washington state.

Bellevue-based Evergreen is a regional independent mortgage lender licensed in 10 western states that prides itself on providing real estate agent services – 70 percent of the company’s loans are purchase loans.

Founder and President Don Burton is a former real estate agent who founded Evergreen in 1987 with the aim of avoiding long lending delays and last minute surprises that can cause closings to fail.

the CashUp from Evergreen Program – where Evergreen pays homes in cash on behalf of homebuyers and then provides permanent funding when ownership is transferred – was Burton’s idea, said Tamra Rieger, Evergreen’s chief operating officer.

Tamra Rieger

Burton “is actively involved in the business every day, and that was his idea,” said Rieger. “He was a real estate agent before starting the mortgage company, and Evergreen’s focus has always been on ‘How can we help brokers and add value to brokers?’ ”

Rieger headed a special product team at Evergreen that developed the CashUp program over a period of six months. The team was preparing to launch the cash offer program in March 2020 when the pandemic struck.

“The risk in the regular credit environment was so great that we had to go through the CashUp program,” remembers Rieger. But “a year faster, and we’re going through COVID and managing the risks pretty well. So we started with a pilot start in February. “

A handful of Evergreen’s top loan officers – roughly 10 out of 260 total – were dedicated to rolling out the CashUp program in Washington state, she said.

After homebuyers are pre-approved, the CashUp program allows them to make a cash offer with no funding or valuation contingency. If the offer is accepted, Evergreen will buy the house and hand it over to the buyer once the permanent financing is completed.

“The exciting thing for the broker is that it is a guaranteed cash close,” says Rieger. “There is nothing that could derail the closure. I kept the deadline every time. “

Since Evergreen is a mortgage lender, not only does it have the means to buy houses with cash, but it also has permanent finance to provide the home buyer. That means it can be completed faster than cash programs that outsource funding, Rieger said.

“We have our own funds and control the mortgage process,” said Rieger. We fully approve the homebuyer in advance for the cash offer and can close in just 10 days. “

The homebuyers mortgage is taken out after Evergreen purchases a home on their behalf. Because they have been pre-approved, permanent funding can be completed quickly.

“About a week after I close with cash, I close the customer’s financing” to buy Evergreen’s house, Rieger said.

Some large real estate brokerage firms cannot meet this turnaround time because they are relying on a different lender to pay off their cash purchase, Rieger said.

“I spoke to a real estate company that was running a cash offer program that asked us for help,” said Rieger. “Since they have no control over the mortgage process, it takes 30 days from the time they close with their cash to complete their client’s loan. It is too long.”

Expansion into new markets

Evergreen, that Partner with real estate agents To make the CashUp program more accessible to homebuyers, the program said it was a success, which resulted in the program expanding beyond Washington state to Arizona and Idaho. A pilot program is running in Nevada, and Rieger hopes to start in California in October.

When Evergreen launched the program, “The nice thing is that I was able to speak to everyone involved, including the buyer and the broker. Especially at the beginning they wanted to talk to me to make sure it was real, ”said Rieger.

“I’ve had great feedback from agents that this is a real cash offer. The only option I have is the inspection and I will accept the seller’s inspection “if Evergreen can confirm that it was not made by a related party.

Not every customer starts with the CashUp program, said Rieger. But once a buyer has made several traditional offers on different homes, “you get a little discouraged if you don’t win the home.”

To help the CashUp program gain traction, Evergreen has tried to keep costs down, she said. Evergreen charges a 1 percent lending fee when the homebuyer loan is completed, and other costs like trusteeship, ownership, and enrollment fees typically come in around $ 1,400, Rieger said.

The CashUp program requires homebuyers to use Evergreen for their permanent home finance. Evergreen’s goal is to help home buyers approve their listing and then provide permanent funding – not make money on fees.

“Many programs charge higher fees – I saw 2, 3 percent,” said Rieger. “We do this to help our buyers win the house. We really tried to keep CashUp attractive to the customer so that the costs don’t prevent them from using it. “

When deciding which market to launch the CashUp program in next, property transfer taxes are a consideration.

“If I close with cash, I own the house and the seller pays the real estate transfer tax. In the second section, I am the seller and, technically speaking, I transfer the ownership of Evergreen to the borrower, ”said Rieger.

The easiest countries in which a cash offer program can be started are those that have no excise tax, said Rieger. Then she looks for states that have lower transaction fees, like Arizona, Idaho, and Montana.

While closing costs in Washington state can be higher than other states, Evergreen introduced CashUp there because the company is headquartered there and “because probably 50 or 60 percent of our transactions are in Washington,” Rieger said.

The long-term goal is to make CashUp available in every state where Evergreen is licensed. Right now there are 10 states: Arizona, California, Colorado, Idaho, Montana, Nevada, Oregon, Texas, Washington and Wyoming

But Colorado, Texas and Montana are recent additions to Evergreen, which is also looking to expand into other western states, Rieger said.

“We have a certain philosophy of knowing your market and entering states near your business location instead of traveling across the country to Florida,” said Rieger. “We’re to the west and we’re moving east” as we continue to add branches within Evergreen’s existing presence.

Will Every Lender Have a Cash Offering Product?

If a regional mortgage lender that is licensed in 10 states can offer a cash offer product, does that mean that each lender will eventually bring their own offer to market?

“I don’t know whether it will be mainstream or whether all lenders can,” said Rieger. “It may sound simple, but there is a lot of work behind it. I have a good training process and disclosures. But for a lender to build such a product, I think it takes a good 6 months to develop it, 3 months to test it, and it takes a lot of resources to do it. “

Rieger said any lenders who are not already working on introducing a cash offering product could miss the boat.

“There is a time for this product. It is very popular at the moment and I am glad that we are positioned where we are, ”said Rieger. “I think there is a window, and as more houses come on the market and more inventory is online, there will likely be less demand for such a program.”

Currently, stocks are still tight in many markets, she said.

“We are still seeing bar offers above the list price, several offers and escalations,” said Rieger. “I think Evergreen was in a good position because we started in February. If you are a mortgage company trying to get this product to market now, you may be missing out on your window. “

Email Matt Carter


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How to manage your small and large expenses with a personal loan https://winwinlose.net/how-to-manage-your-small-and-large-expenses-with-a-personal-loan/ https://winwinlose.net/how-to-manage-your-small-and-large-expenses-with-a-personal-loan/#respond Tue, 21 Sep 2021 12:35:47 +0000 https://winwinlose.net/how-to-manage-your-small-and-large-expenses-with-a-personal-loan/ Personal loans are the ideal solution to managing your expenses large and small – be it medical emergencies, home renovations, or anything else that requires immediate funding. Most lenders now have digital regulations and allow you to take out an instant loan entirely online. You can apply for the application, approval and payment of the […]]]>

Personal loans are the ideal solution to managing your expenses large and small – be it medical emergencies, home renovations, or anything else that requires immediate funding. Most lenders now have digital regulations and allow you to take out an instant loan entirely online. You can apply for the application, approval and payment of the penalty online from the comfort of your home.

Some lenders even extend it pre-approved offer to speed up loan processing and make borrowing easier. A personal loan is therefore an ideal instrument, especially during the Christmas season, a season full of celebrations, events and shopping. To learn more about how personal loans can effectively manage small and large expenses, read on.

Access sufficient funding and do it easily with a pre-approved offer

Today, a customized personal loan is just a click away. You can browse these offers from various lenders online and choose the instant loan that best suits your needs. In most cases, depending on your profile, you can get a maximum loan amount of up to Rs.25 lakh. This funding volume is perfect for the Christmas season as it comfortably covers most needs and you don’t have to compromise due to lack of funds.

The process is also quite simple and straightforward as it is entirely online. Depending on the lender, you may need to fill out a quick application form, verify your identity, and take advantage of the pre-approved offer. It’s that simple and can be done in minutes from anywhere.

Finance all expenses without restriction

Managing large expenses can be a chore without a proper budget. With a personal loan, you don’t have to worry about that as the sanction can be freely used to meet any financial obligation. This allows you to efficiently finance short-term business expenses or your child’s tuition fees for an education abroad, for example. You can also use the sanction to finance trips abroad or buy expensive home improvement equipment.

Get an instant loan to help resolve cash shortages when they arise

Emergencies are one of the more costly expenses you have in life and you may not always have enough money to deal with them. Fortunately, a personal loan can serve as an emergency loan if you borrow from the right lender. Look for a tool with features like online loan application, instant approval and payout, and access to a pre-approved online quote. These features help you deal with your unplanned expenses easily and without delays or additional hassle.

Pay for your expenses comfortably and according to your abilities

Whether you opt for a personal loan or an instant loan, you do not have to worry about repaying your contributions. As long as you only borrow as much as you need, you can always pick a suitable tenor with an affordable EMI. Hence, any spending, large or small, will not put unnecessary pressure on your savings. These loans are a great financing tool for your home renovation or wedding hosting. You don’t have to bear the brunt of a large down payment, just make monthly, pocket-friendly payments.

Pay back debts at inexpensive and affordable rates

Lenders also often offer one as an unsecured instrument Favorable interest rate for personal loans. In fact, such promotional prices are common during the Christmas season and you can use them to your advantage. One particularly clever way to take advantage of such businesses is to use them for debt consolidation purposes. This will help you manage and pay off existing debts quickly, and all you have to do now is make one low-cost payment per month.

From these pointers, it is clear that a personal loan can quickly help you cope with small, large, planned or unplanned expenses. However, in order to enjoy all of these benefits, you need to choose the right lender. Look for one with relevant terms and features that complement your experience. With these criteria in mind, the Bajaj Finserv personal loan is an excellent option. It offers instant loan benefits and you can receive funds up to Rs.25 lakh within 24 hours of submitting your application. You can opt for a flexible term of up to 60 months and benefit from a competitive interest rate! To get started right away, review your pre-approved offer for hassle-free and expedited loan processing.


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September 20, 2021 – Lending Rates Are Falling – Forbes Advisor https://winwinlose.net/september-20-2021-lending-rates-are-falling-forbes-advisor/ https://winwinlose.net/september-20-2021-lending-rates-are-falling-forbes-advisor/#respond Mon, 20 Sep 2021 21:26:33 +0000 https://winwinlose.net/september-20-2021-lending-rates-are-falling-forbes-advisor/ Editor’s Note: Forbes Advisor may earn a commission on sales made through affiliate links on this page, but this does not affect the opinions or ratings of our editors. The average rate on 10 year private fixed rate student loans went down last week. For borrowers who take out personal loans to fill gaps in […]]]>

Editor’s Note: Forbes Advisor may earn a commission on sales made through affiliate links on this page, but this does not affect the opinions or ratings of our editors.

The average rate on 10 year private fixed rate student loans went down last week. For borrowers who take out personal loans to fill gaps in funding their higher education costs, interest rates remain relatively low for borrowers with solid creditworthiness.

The average fixed rate on a 10 year student private loan was 5.61% from September 13 to September 17. This applies to borrowers with a credit score of 720 or greater who have prequalified on the Credible.com marketplace for student loans. According to Credible.com, the average interest rate on a five year floating rate loan was 3.19% for the same population.

Related: The best private student loans

Fixed rate loans

The average interest rate on 10-year private student loans fell 0.50% to 5.61% last week. In the previous week, the average was 6.11%.

Borrowers in the student loan market can now receive a lower interest rate than they were last year. At that time last year, the average fixed rate on a 10-year loan was 6.45%, 0.84% ​​above today’s rate.

According to Forbes Advisor’s student loan calculator, if you were financing student loans of $ 20,000 at today’s average fixed rate, you’d be paying about $ 218 per month for a total of about $ 6,177 in total interest over 10 years.

Variable Rate Loans

Last week, the five-year variable student loan interest rate rose to 3.19% from 3.12% the previous week.

In contrast to fixed interest rates, variable interest rates fluctuate over the course of the loan period. Floating rates can start lower than fixed rates, especially during times when interest rates are generally low, but they can rise over time.

Private lenders often offer borrowers the option to choose between fixed and floating rates. Fixed rates may be a safer choice for the average student, but if your income is stable and you plan to pay off your loan quickly, it can be beneficial to choose a variable loan.

If you were to finance a $ 20,000 five-year loan at a floating rate of 3.19%, you would pay an average of about $ 361 per month. For the total interest over the life of the loan, you would pay around $ 1,664. Since the interest rate is variable, it can of course fluctuate up or down from month to month.

Related: How to get a private student loan

How Lenders Determine Your Interest Rate

Lenders who offer private student loans usually offer both fixed and floating rates. These prices are partly based on your creditworthiness. In general, the higher your credit rating, the lower the interest rate you will get. But credit history, income, the degree you are working on, and your career can all all play a part in the interest rate you get.

How to get a private student loan

Private student loans can be a good option if you are meeting or otherwise not eligible for the annual federal student loan limits. You should consider a state student loan as your first option, as interest rates are generally lower and you’ll enjoy more generous repayment and waiver options than a personal loan. For example, the federal student loan interest rate for the 2021-22 school year is 3.73%.

Generally, to get a personal student loan, you must apply directly through a non-state lender such as a bank, credit union, or online business. You may also be able to get a private student loan through a nonprofit, government agency, or college.

Keep in mind that students with bad credit often need a co-signer who can meet the lender’s credit requirements.

When applying for a personal student loan, consider the following:

  • your qualifications. Private student loans are loan based. Lenders usually require a credit rating in the higher 600s. This is where it can be particularly beneficial to have a co-signer.
  • Where to apply. You can apply directly on the lender’s website, by email, or by phone.
  • Your options. Take a look at what each lender is offering and compare the interest rate, term, future monthly payment, commitment fee, and late payment fee. Also, check to see if the lender offers co-signer approval so that the co-borrower can eventually get out of the loan.

Shopping for private student loans

When comparing private student loans, it is a good idea to look closely at the total cost of the loan. This includes interest and fees. It is also important to consider the type of help the lender is offering if you cannot afford your payments.

If you have good or excellent credit, you have a better chance of getting the best interest rates.

How Much Should You Borrow? Experts generally recommend not borrowing more than you will earn in the first year after college. How much can you borrow? Some lenders limit the amount you can borrow each year while others don’t. When looking for a loan, find out from the lenders how the loan is paid out and what costs it covers.


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White Oak buys Finacity on flagship acquisition https://winwinlose.net/white-oak-buys-finacity-on-flagship-acquisition/ https://winwinlose.net/white-oak-buys-finacity-on-flagship-acquisition/#respond Mon, 20 Sep 2021 13:00:00 +0000 https://winwinlose.net/white-oak-buys-finacity-on-flagship-acquisition/ SAN FRANCISCO – (BUSINESS WIRE) – White Oak Global Advisors (“White Oak”) has completed the acquisition of Finacity Corporation (“Finacity”), a leading global provider of working capital and trade finance solutions to global corporations. Finacity creates, structures and places over USD 100 billion in trade finance receivables annually with over 50 leading financial institutions in […]]]>

SAN FRANCISCO – (BUSINESS WIRE) – White Oak Global Advisors (“White Oak”) has completed the acquisition of Finacity Corporation (“Finacity”), a leading global provider of working capital and trade finance solutions to global corporations.

Finacity creates, structures and places over USD 100 billion in trade finance receivables annually with over 50 leading financial institutions in asset-backed securities structures. Finacity has enabled transactions for receivables in 58 currencies with debtors in more than 175 countries, making it the largest bank-independent trade finance platform worldwide.

Adrian Katz will remain CEO of Finacity and major shareholder in the transaction and will work closely with the management of White Oak Global Advisors. With this acquisition, White Oak and its subsidiaries will have over 215 asset-based lending professionals who provide trade receivables securitization and a variety of ABL products including invoice discounting, factoring, trade finance, supply chain finance, lender finance, and import-export. Financing.

The acquisition will accelerate White Oak’s foray into the $ 30 trillion market for asset-based working capital solutions. Finacity will operate as a standalone company but will work closely with White Oak in a number of areas where there is synergy – including White Oak’s provision of institutional capital on Finacity’s platform.

White Oak is an SEC registered investment advisor with net assets of over $ 10 billion. It offers over 20 loan products, including SMB business loans, commercial finance, equipment leasing, structured finance and other specialty loan solutions for the benefit of borrowers.

Finacity is headquartered in Stamford, Connecticut and will be renamed White Oak Finacity. White Oak’s interest in acquiring Finacity has been around for a long time – even before the company was originally sold in 2018.

Andre Hakkak, CEO of White Oak Global Advisors, said:

“We are pleased to welcome Finacity to the White Oak family. Finacity is a market leader and there is significant synergy between their work and the work we are already doing at White Oak.

“This acquisition further demonstrates White Oak’s commitment to being a leading global player in asset-backed capital solutions, which is essential to the functioning of the global economy. In particular, Finacity’s experience in making the securitization of receivables and consumer assets less complex and more cost-effective will provide our customers with a significant advantage.

“We look forward to working closely with Adrian and the Finacity team as we form this new partnership.”

Adrian Katz, CEO of Finacity Corporation, said:

“Everyone at Finacity is excited to start this new chapter in our history as part of White Oak. We have known the White Oak leadership for a long time and are convinced that this step is absolutely right for Finacity to thrive.

“I am particularly excited about the new opportunities that the collaboration with White Oak will open up through the combination of our market expertise and global reach.”

About white oak

White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in sourcing and delivering financing solutions to facilitate the growth, refinancing and recapitalization of small and medium-sized businesses. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process has been focused on delivering risk-adjusted investment returns and building long-term partnerships with our borrowers. For more information, visit www.whiteoaksf.com.

About Finacity

Finacity specializes in structuring and providing efficient capital market receivables financing programs, supplier and accounts payable financing, back-up servicing and program administration. Finacity currently enables the financing and administration of an annual volume of receivables of around 100 billion US dollars. With resources in the US, Europe, Latin America and Asia, Finacity does business with debtors in more than 175 countries around the world. Learn more at www.finacity.com.


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Gateway Bank is offering $ 2,000 cashback on green home loans https://winwinlose.net/gateway-bank-is-offering-2000-cashback-on-green-home-loans/ https://winwinlose.net/gateway-bank-is-offering-2000-cashback-on-green-home-loans/#respond Mon, 20 Sep 2021 00:37:24 +0000 https://winwinlose.net/gateway-bank-is-offering-2000-cashback-on-green-home-loans/ On Monday, Gateway Bank launched a $ 2,000 cashback offering for those looking to refinance a green home, make green upgrades, or build an energy efficient new home. The $ 2,000 cashback deal is tied to two home loans: Green plus: 2.34% pa advertised tariff (2.68% pa comparative tariff *) Green: 2.44% pa advertised tariff […]]]>

On Monday, Gateway Bank launched a $ 2,000 cashback offering for those looking to refinance a green home, make green upgrades, or build an energy efficient new home.

The $ 2,000 cashback deal is tied to two home loans:

  • Green plus: 2.34% pa advertised tariff (2.68% pa comparative tariff *)
  • Green: 2.44% pa advertised tariff (2.78% pa comparative tariff *)

Both come with a 100% equalization account, however the former is for home loans that achieve a 7-star energy efficiency rating from “Nathers”, while the latter is for borrowers who are making at least three ecological upgrades to their home, e.g. B. solar panels, water storage tanks or double-glazed windows.

These home loans are for owner-occupiers who pay principal and interest with a maximum loan-to-value of 80%.

The cashback offer is valid from September 20 to December 31, the financing should be completed by March 31, 2022.

“There is a rapidly growing segment of the market looking to reduce the environmental impact of their home and borrowing to add energy efficient features or to buy a new home with built-in features,” said Lexi Airey, CEO of Gateway Bank.

On Thursday, Gateway Bank also cut rates on a number of its investor home loans, cutting some of them by as much as 43 basis points.

Gateway Bank joins a chorus of other lenders offering discounts and special “green” home loans for those who are upgrading their home or buying a new energy efficient home.

However, in August, a CEO of a non-bank lender warned borrowers about cashback offers, saying the basics remain – always check the advertised and comparative rates.


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Would you like to buy your own home or refinance? The table below shows home loans with some of the lowest interest rates in the owner-occupier market.


Photo by Harrison Astbury

When selecting the above products, the entire market was not considered. Rather, a stripped-down portion of the market was considered, including retail products from at least the four major banks, the ten largest customer-owned institutions, and Australia’s larger non-banks:

Some vendors’ products may not be available in all states. In order to be considered, the product and the price must be clearly published on the product provider’s website.

In the interests of full disclosure, Savings.com.au, Performance Drive and Loans.com.au are part of the Firstmac Group. To learn how Savings.com.au handles potential conflicts of interest and how we are paid, please click through the website links.

*Comparison rate is based on a $ 150,000 loan over 25 years. Please note that the comparison price only applies to the examples given. Different loan amounts and terms lead to different comparison rates. Costs such as redemption fees and cost savings such as fee exemptions are not included in the comparison price, but can affect the cost of the loan.


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