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Construction loans: What is it and what do they mean? function


Our mission is to offer our clients the trust and tools they require to enhance your financial situation. Although we do get the benefits of our lenders, who we will never forget, we’ll declare that our views are our individual. Credible Operations, Inc. NMLS # 1681276, is been identified in in the article by the name of “Credible. “

The construction of a house can lead to having everything you want to be able to have with a budget of course. There’s no requirement that you need to be rich in order to achieve it. It’s about being to obtain the loan needed for construction.

The construction loans are different from a conventional loans. In one sense, the conventional mortgage can be described as a long-term loan which helps to pay for the purchase of a house. The loans for construction are credit for short periods which can be used to finance the construction of the home. It is able to be converted into a traditional mortgage after the building process is completed.

Is a building loan a type or loan?

The construction loan at https://www.paydaynow.net/emergency-loans/ allow you to obtain the funds to construct or improve your house.

When you purchase an apartment which is ready to move into the next day, you must have it to ensure that your mortgage will be able to pay for the purchase cost and even the closing costs.

In the case of building your own home (or buy a home that you’d like to renovate) There are more steps to take for purchasing the property including paying contractors, as well as passing the tests. This is another procedure that needs a different type or credit.

What does an construction loan investment include?

These loans for construction are a way to cover the costs of instance:

  • Land
  • Architectural plans
  • Design fees
  • Building permits
  • Construction materials
  • Contractor labor
  • Contingency reserves (in case your project goes over budget)
  • Interest reserves (to cover your interest expenses during construction)
  • Charges for closing
  • Construction Financing that is long-term when the construction is completed

What is the process to obtain a construction loans?

The construction loans are are created to finance the work in stages. This arrangement is referred to as”draw plan” also referred to as “draw schedule” minimizes risk to both the lender as well as the creditor as the contractor could receive a significant amount of cash at the beginning but still not finish the task.

This can also lower the chance of construction that is not up to standards because the lender must check the building at conclusion of each phase prior to the release of more money. In fact the lending institutions in the construction sector will require that their customers employ skilled construction workers capable of handling a significant quantity of work. They are also financially sound, licensed, insured as well as licensed.

While you may not be able to find better loans for construction with Credible we can help in finding a fair rate for your following conventional loan. Within a few minutes, you’ll be able to browse through the options for loans offered by our partner lenders. It’s fast and simple.

Construction loan rates

The rates of interest for construction loans are contingent on the lending institution that is lending them but they could be comparable to the current rates for home loans, or perhaps one percentage point higher. Being a competent lender (such for example, having a high credit score or ratio of debt to income) and choosing an institution designed for construction loans might help you get the best price.

The construction loans might be eligible for an interest rate that is variable or fixed rate at the beginning of building. If you decide to go with the construction loan with an interest rate which is variable it’s important to be aware of the limits of your interest rate’s fluctuations and also that you are able to alter the rate of your current (post-construction) mortgage for homeowners. However permanent loans are also an adjustable rates.

If you don’t want that uncertainty, seek out a construction-to-permanent loan with a fixed rate so that the rate stays the same during the construction phase and permanent phase.

Construction loan types

There’s several forms of HTML0 which can be used for loan construction. Find out which one is suitable to suit your needs.

Renovation loan

The term “renovation loan” is a kind of construction loan that can be used to purchase a home and fund major aesthetic or structural changes. Some examples of these loans include those that are offered in the FHA 203(k) loan as well as it’s the FHA 203(k) loan, and the Fannie Mae HomeStyle loan.

The most significant difference between a home improvement loan and standard purchase loan are that the second grants you cash to purchase the property and make improvements to the condition of it. This could require borrowing more than the value of the property in the present time.

Similar to a renovation loan, a construction-to-permanent loan combines what would normally be two loans. It provides you with both the money for building the house and the long-term financing that will purchase the house over time.

Instead, you’ll be offered a loan that has only one closing, an appraisal and only one closing expense. Additionally you’ll have to complete the required conditions at once. If your budget is changing when you build your home It’s still feasible to purchase the home.

A construction-to-permanent loan will also allow you to finance the purchase of the land if you don’t already own it. Or, if you have an existing lot loan, you can use a construction-to-permanent loan to pay it off.

FHA construction loan

individuals with low down payments as well as smaller credit scores may want to think about the possibility of FHA construction loan. They require the payment of just 3.5 percent. It is possible to use the equity accrued on your property to cover the down payment, even though it’s been a while since you bought the land that you’ll build your new home upon.

The FHA’s construction loan has a single closing (meaning it’s a construction-to-permanent loan) and doesn’t require you to make any payments during the construction process. The interest rate could be variable or fixed during the construction.

FHA permits the homeowner to serve as the contractor in the event that contractors you hire is accredited. Minimum credit scores required to be eligible typically 680 or depending on the institution that is lending the money.

VA construction loan

Military individuals who are eligible to be eligible for VA loan approval might think about applying for the VA Construction loan in order to construct the home that they have always wanted. The loans are offered for 100% financing that includes land and the construction of the house.

The VA provides two types of loan for building:

  1. One-time close loan (construction-to-permanent)
  2. The loan is closed twice (a credit for construction and one that is permanent)

Its name suggests the fact that “two-time close” is a reference to two different closings , which means that you’ll have to cover two closing costs.

In the event that you receive an VA Construction loan this means that you do not have to pay fees for the construction phase. Instead, the loan’s duration will be decreased based on the duration of building. If it takes you a year to construct your house and you are able to take it out for 29 years rather than.

VA will require the builder to pay different costs that borrowers could have to pay in construction loans including the cost of inspections for construction loans as well as the expenses for risk insurance. Similar to other VA loans, the veteran must pay an VA fund-raising fee.

Owner-builder construction loan

If you’re a skilled HTML0 contractor looking to construct your dream house, you could obtain an owner-builder’s mortgage if you can prove that you’re licensed and proficient, and insured and have a sound financial company. Additionally, you’ll need to meet the usual financial requirements for personal finance.

This kind of loan might be attractive for those who want to control expenses, as well as the satisfaction of building your own house.

One-time close construction loan

A one-time close construction loan (also called a single-close construction loan or construction-to-permanent loan, as discussed above) is any construction loan where a single loan covers your entire project. For instance the VA construction loan can be a one-time construction loan.

During the time it takes to build your house your financial status and the interest rates may alter. These changes could affect the price of loans, as well as the ability to get long-term loans. Additionally, every loan is subject to the expense of a deposit at the beginning as well as underwriting and closing fees.

How do I find the most efficient way to obtain the construction loans

Like other home loans, it is required to meet certain conditions in order to be eligible for construction loan. The requirements vary for every lender and are based on the kind of loan you’re seeking.

Construction loan requirements

It’s a generalization that, there are some requirements you’ll need to satisfy to be qualified in the construction lending.

  • Score The applicant must have an credit score of the minimum of 620 to be considered eligible for the use of an FHA and VA construction loan. For an Fannie Mae single-close loan, the minimum credit score of 700.
  • Downpayments If in the market for traditional construction loans, you’ll require at least five percentage. In certain situations you’ll be required to pay 10 percent or 20 percent of the cost to sell (land as well as construction expenses) (or the capital the value for the property). An FHA construction loan requires the deposit to amount to 3.5 percent, whereas an VA construction loan does not require an upfront amount.
  • Ratio of income to debt Your DTI should be lower than 43 percent or lower. A higher ratio is possible if you’re in good fiscal health.
  • Plan for repayment:Construction loans usually require zero payments or interest-only payment throughout the building phase. The principal will be fully amortized and interest payment once construction is completed.

How to obtain those construction loan

This is how you can get a building loan

  1. Get pre-approved by a lender to obtain building credit.
  2. Make an agreement with the construction company. Be sure to include an obligation to repay clause so to end this contract in the case that that you are unable to pay the installment loan for construction.
  3. You need to send your builder’s consent along with the subwriting documentation to your mortgage lender to get their approval. If the property you own is yours and you’re building on it you’ll need to provide the original deed and survey and , if you purchased the land in the last few years, then you should provide the settlement statement.
  4. Look up”Subject To Be Completed” Search for “subject for completion” appraisement of the possible house.
  5. The final approval must be obtained for the end of the construction financing.

After the close, work can begin. The lender will then make payments to the contractor through a variety of payment options , and will be sure to monitor each step of the way.

When the construction is completed with the construction loans is completed the loan is converted into permanent loans, or you’ll be eligible to get the loan that is permanent.

It is difficult to get your construction loans you require?

There’s no reason to be too difficult to get construction loans in the case of an established builder that is in an excellent financial standing.

However, there are a lot of steps needed to get a mortgage, making it more complicated and takes longer than obtaining an normal loan.

What can I do to discover the most efficient method of choosing the most suitable construction lender

The first thing to look for in a reputable contractor is the expertise in the field of construction loan. A lender who is able to handle large amounts in construction loan and is knowledgeable of the complexities of these loans will be more much more willing to collaborate together.

The HTML0 code is a great chance that you’ve never built an existing home before and need to locate a lender who will assist you with building your home using the highest efficiency. A lender who has been through the construction process for a long time has a deep understanding of how the procedure can go, and what could happen and the best way to prevent issues. They can aid you in ensuring the building process is executed with speed and efficiency.

How to Communicate Rate Changes to Borrowers


Mortgage rates change every day – and these changes can have significant effects on borrowers. Over the past year, it seems like most of these changes have taken an upward trajectory, but there are times when monitoring mortgage rates spells good news, like the 7.37% rate cut on November 9 to 6.67% on November 10.

So how – and how often – should you communicate rate changes to your borrowers?

Rate check

Jack Skovgard, a broker with Long Beach Home Loan Corp., said the first thing he looks at each morning is what’s happening with mortgage obligations and pricing compared to the day before. Based on that margin, he said, he decides whether or not to call customers and update them on pricing.

It’s important to update borrowers who are going through a refinance or who are at some stage in the buying process fairly regularly about market movements, but especially when something big is happening.

“I don’t want to be a broken record thinking, ‘Oh, prices are better today, oh, prices are worse today,’ because none of that really matters unless you couldn’t lock in a loan that day for that price,” Skovgard said. .

There’s no point telling borrowers about a rate they can only get if they’re willing to lock in a loan at that time. This usually adds more stress to the process, as there is nothing a buying customer can do to get their offer accepted faster.

Make the call

Skovgard said the reason it communicated the Nov. 9-10 rate cut to its borrowers was because it affected the approval of many of its customers who are currently buying homes.

These calls involved informing borrowers about the price drop and what it means for their lending scenario. He provided numbers on how they could increase their buying power and what their new payout would look like based on lower prices.

“Just good information for people who are actively in the process to have and work with,” he said.

He also noted that he wanted to reach out to borrowers about the rate cut early because this type of rate change can quickly become national news, and it’s important they hear about it from him as a expert they use for the home buying process. .

“I think it helps build trust in the relationship for them to hear from me first and then hear it from neighbors, friends and online sources afterwards,” he said.

Communicate with borrowers

So how should you communicate rate changes to your borrowers?

First, try not to go into too much detail about inflation data and details about why prices may have improved. Clients rely on the expertise of their broker or LO to help them navigate the process, rather than trying to dig up the details of inflation and rate data themselves. The goal is to help them take advantage of the best possible loan scenario by predicting and explaining to them how prices might change in the future.

“We think it’s best to always make the phone calls; whether it’s good phone calls or hard phone calls,” Skovgard said.

For clients who are about to have an offer accepted or those who have just had an offer accepted, be sure to have a direct conversation about locking up their loans and rates before doing so. Some customers may choose to heed the advice and some may choose to float their locks and not lock them yet in anticipation or hope of a better price.

“It can be a gamble if you do that, so I’m just trying to point out my best advice to the client,” he said.

Build trust

Communication with borrowers is key, especially in a business built on trust and referrals.

“It’s my job to educate borrowers about pricing, guide them to the best decisions I think should be made, and let them, as a client, ultimately decide whether to lock in the rate of the ready or not,” Skovgard said. “I can give my best advice on what I think they should do based on my experience.”

Your goal should be to position yourself as a trusted expert to your borrowers. There are different ways to do this, including through your communication methods and continuing your education through podcasts and other media.
You can closely monitor mortgage rate changes by visiting HousingWire’s Mortgage Rate Center here.

How to get a cash advance from a credit card.


Using debit and credit cards is a quick and easy way to pay for things. But sometimes cash is preferred and when you need it on the fly, your cards can still come in handy. In particular, you can even use your credit card to get money through something called a cash advance.

By tapping into your line of credit, you can still have the benefit of borrowing money to cover an expense and still paying with physical cash if the merchant requires it.

What is a cash advance?

A cash advance is money you borrow with your credit card.

“Examples of cash advances include using your credit card at an ATM, using a cash advance check provided by a card issuer, or also using your credit card for certain cash transactions like gambling, deposits, wire transfers, travelers checks, money orders, etc.,” says Ted Rossman, senior credit card industry analyst at Bankrate.com.

Keep in mind that your credit provider may allow you to withdraw money only up to a percentage of your credit limit. For example, if your card limit is $12,000 and your cash advance limit is 20% of your line of credit, you can borrow a maximum of $2,400 for a cash advance.

How to get a cash advance with your credit card

If you need a cash advance, you can get cash out in no time in three easy steps.

1. Check your credit card agreement for cash advance details

If you must use a cash advance, you should expect high fees and interest rates. The first thing to do is therefore to read your credit card contract to understand the cost of borrowing on your line of credit.

It is also important to know that the refund will work. Typically, your monthly payments will go to your credit card balance first. Any amount in excess of your minimum payment will go to the account with the highest interest rate, which may be your cash advance balance. Consider paying the minimum amount on your credit card to ensure you reduce your cash advance balance. As a result, you can avoid these compound interest charges.

2. Determine how much funds you can withdraw

Check your credit statement to see how much you’ve already used. A good credit utilization rate is 30% or less of your total line of credit. Exceeding this limit could negatively affect your credit score. So, consider other options if you’ve exceeded 30% of your line of credit utilization ratio.

3. Get your cash advance

You don’t have to travel far or wait for approval to get a cash advance. There are three ways to get a cash advance in as little as a few minutes.

  • AT M: You can withdraw money from an ATM if your credit card has a personal identification number (PIN). Take your card to an ATM, select the cash advance option and withdraw cash. Keep in mind that you may have to pay an ATM withdrawal fee which hovers around $4.72.
  • In person: You can get a cash advance from a physical bank if you don’t have a PIN. All you will need is your credit card and ID.
  • Convenience check. A convenience check works like a personal check. However, in this case, you will get a cash advance on your credit card in the form of a check. Call your credit card issuer to request a convenience check. You can then cash the check at your bank or pay directly to a third party.

Advantages and disadvantages of cash advances

Cash advances can be useful if you need cash immediately. However, its high interest rates and fees could end up costing you dearly.


  • A credit card cash advance is a convenient solution if you need cash: If you’re short on cash and your resources are limited, a credit card cash advance might be helpful. All you have to do is go to the nearest bank or ATM, and you can withdraw cash in minutes, no questions asked.
  • You don’t need to apply for a loan to borrow money: A loan usually requires you to fill out an application and wait for approval from your bank or lender. And most lenders will do a thorough investigation of your credit report, which can impact your credit score. A credit card cash advance is a surefire way to get the money you need without the hassle.
  • The cash advance on credit card allows flexible repayments: Although an installment loan requires fixed payments, you will pay your cash advance like a credit card bill. You can pay in full, pay the minimum amount, or somewhere in between.

The inconvenients

  • A credit card cash advance usually has high fees: APR of your cash advance can range from 25% to 27%, says Mohr. Rossman also mentions that cash advances come with an additional fee of up to 5% of the advance or up to $10, whichever is greater. In contrast, the average APR for a 24-month personal loan is 10.16%, much cheaper than cash advance interest rates.
  • Credit cards usually have credit advance limits: Your credit company may only allow you to withdraw part of your line of credit in cash. If you’re buying something expensive, consider alternative options.
  • Your cash advance will start earning interest immediately: Credit cards generally have a 21-day grace period, but a credit card cash advance does not. Interest will begin to accrue on your cash advance as soon as you withdraw money. If you know it will be difficult to repay your borrowed money, you should avoid this option.

Other options to consider

A credit card cash advance may be necessary if you are in a hurry. However, alternatives are available if you want to avoid the risk of cash advances altogether.

Use your own funds: Dip into your checking or savings account to make a payment before taking a cash advance. If you don’t need the money right away, consider using the credit on your credit card instead. A cash advance should be your last resort. To avoid using cash advances in the future, create a rainy day fund in a secure, liquid savings account.

Apply for a loan: A personal loan often has lower interest rates and higher loan amounts than cash advance limits on a credit card. If you can wait to hear from your loan provider, consider applying for a personal loan.

Borrow from others. Your first instinct may be to avoid asking friends and family to lend you money. However, asking someone to help you may be cheaper than borrowing money from your credit card company. More often than not, you can avoid paying fees and interest rates as long as you promise to reimburse that person.

Prepayment activity hit a record high in October as rates topped 7%; Mortgage delinquencies up 4.5% in early signs of Hurricane Ian impact


– Prepayments fell 16.5% to a one-month mortality rate (SMM) of 0.48%, well below the previous record high of 0.55% and the lowest since at least 2000, when Black Knight started reporting the metric

– The national delinquency rate rose 4.5% in October to 2.91% – up 12 basis points since September – thanks to a sharp 9.4% increase in 30-day delinquencies

Florida boosted new early delinquencies (+19K) – with the government default rate up 53 basis points to 3.42% – giving a first indication of the impact of Hurricane Ian

– Loans 60 days past due rose 2.9% nationally, while loans past due 90 days or more saw continued – albeit modest – improvement, falling another 1.5% in October

– October 19.6K foreclosure housing starts represented a 7% increase that partially reversed the September decline, but are still 55% below pre-pandemic levels

– Initiated foreclosures were initiated on 4% of existing serious delinquencies in October, up slightly from September but still less than half the rate seen in the years before the pandemic

– Inventory of active seizures remained stable, with volumes remaining subdued in 2022 due to still historically low starting levels of seizures

JACKSONVILLE, Florida., November 22, 2022 /PRNewswire/ — Dark Knight, Inc. (NYSE:BKI) reports the following “first look” at October 2022 month-end mortgage yield statistics drawn from its loan-level database representing the majority of the national mortgage market.

Black Knight, Inc. logo (PRNewsfoto/Black Knight, Inc.)

U.S. Total Delinquent Loan Rate (loans 30 days or more past due but not foreclosed): 2.91%
Month-to-month change: 4.45%
Year-over-year change: -22.32%

Total pre-sale inventory rate in the United States: 0.35%
Month-to-month change: 0.42%
Year-over-year change: 33.22%

Total number of seizures in the United States: 19,600
Month-to-month change: 6.52%
Year-over-year change: 390.00%

Monthly prepayment rate (SMM): 0.48%
Month-on-month change: -16.48%
Year-over-year change: -75.47%

Foreclosure sales in % of 90+: 0.59%
Month-on-month change: -1.47%
Year-over-year change: 117.07%

Number of properties overdue for 30 days or more but not seized: 1,557,000
Month-to-month change: 66,000
Year-over-year change: -429,000

Number of properties overdue for 90 days or more but not seized: 551,000
Month-to-month change: -7,000
Year-over-year change: -555,000

Number of properties in foreclosure pre-sale inventory: 186,000
Month-to-month change: 1,000
Year-over-year change: 48,000

Number of properties overdue for 30 days or more or in foreclosure: 1,743,000
Month-to-month change: 66,000
Year-over-year change: -382,000

Top 5 states by non-current percentage*
Mississippi: 6.50%
Louisiana: 5.75%
Oklahoma: 4.88%
Alabama: 4.64%
West Virginia: 4.47%

Bottom 5 States by Non-Current Percentage*
Colorado: 2.05%
Oregon: 1.99%
California: 1.84%
Idaho: 1.74%
Washington: 1.67%

Top 5 States by Percentage of 90+ Day Offenders
Mississippi: 2.38%
Louisiana: 1.90%
Alabama: 1.66%
Oklahoma: 1.55%
Arkansas: 1.54%

Top 5 states by 6-month change in non-current percentage*
Alaska: -23.82%
Hawaii: -20.35%
New York: -14.00%
North Dakota: -10.47%
New Jersey: -3.13%

Bottom 5 States by 6-Month Change in Non-Current Percentage*
Iowa: 22.96%
Florida: 16.80%
Colorado: 15.91%
South Dakota: 13.12%
Arizona: 12.43%

*Non-current totals combine foreclosures and delinquencies as a percentage of active loans in that state.
1) Totals are extrapolated based on Black Knight Mortgage Database.
2) All integers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.

For a more detailed view of this month’s “first look” data, please visit the Dark Knight Newsroom. The company will provide a more in-depth look at this data in its monthly Mortgage Monitor report, which includes an analysis of the data supplemented by detailed charts and graphs that reflect trends and point observations. The Mortgage Monitor report will be available online at https://www.blackknightinc.com/data-reports/ by December 5, 2022. For more information on accessing Black Knight’s Loan Level Database, please email [email protected]

About the Dark Knight

Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage and real estate lending and servicing industries, as well as in capital markets and secondary. Businesses leverage our robust integrated solutions across the homeownership lifecycle to help retain existing customers, win new customers, mitigate risk and operate more efficiently.

Our customers rely on our proven, comprehensive, and scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.



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SOURCEBlack Knight, Inc.

No collateral or guarantor required for bank loan of Rs.10 lakh: DC Kupwara


No collateral or guarantor required for bank loan of Rs.10 Lakh: DC Kupwara

KUPWARA, NOVEMBER 21: The District Development Commissioner (DDC) Kupwara, Doifode Sagar Dattatray, who is also Chairman of DLRC Kupwara, today issued a circular directive in which banks and financial institutions were urged to implement implements the RBI guidelines regarding the sanctioning of loans without collateral or guarantor up to Rs 10 lakh, in letter and spirit.

The circular reads as follows: “The Ministry of Micro, Small and Medium Enterprises clears the office memorandum bearing the number PMEGP/Policy/09/2021, dated: 13-05-2022, has given its approval for the prosecution of the PMEGP program for five years from fiscal year 2021-22 to fiscal year 2025-26.

It is clearly mentioned in the PMEGP guidelines circular that “No collateral will be required by banks as per RBI guidelines for projects involving loan up to Rs. are transmitted by the agencies.

The circular further states that RBI Master Directions-Lending to Micro, Small and Medium Enterprises (MSME sector); “Banks are required not to accept collateral in case of loans up to Rs. 10.00 Lacs granted to MSME sector units. Banks are advised to extend unsecured loans up to Rs. 10 ,00 Lacs to all units funded under the Prime Minister’s Job Creation Program (PMEGP) administered by KVIC”

The DDC further in the circular instructions stated that in view of the above mentioned guidelines, all Heads of Banks/Financial Institutions are requested to follow the guidelines in letter and spirit and extend loans without guaranteed without any requirement or guarantor up to a limit of Rs. 10.00 Lacs for PMEGP cases.

Any flippant approach or reluctance on the part of a bank branch manager should be treated seriously and the necessary disciplinary action, in accordance with the rules, should be taken against the offending agent/official.

Latest Cbe lockdown of giant factories sees no bidders | The journalist


– Only one bidder showed up for Ed-Stelar’s auction

– Addis Cable lockdown for 878m didn’t bear any fruit

Bidders failed to show up during the lockdown at the Addis Cable and Wire Manufacturing and Ed Stelar Foods factories, which were on sale for a floor price of 878.5 and 114.9 million birr, respectively.

With the bidding for both factories open on the same day, November 17, 2022, the bid for Ed Stelar attracts only one company, leaving the bankers managing the lockdown no choice but to cancel it. Allied Chemical, a company that is expanding its operations, is the only company that has shown interest in acquiring Ed Stelar.

Ed Stelar, a joint venture between Eshetu Belay and Dutch investor Hans Wasmoeth, is facing foreclosure after struggling to stay afloat for more than two years. In the past 12 months, it has used only about 6.6% of the company’s production capacity.

The company employed 200 people and produced 59,000 food products a day at its factory, which sits on 5,000 square meters of land in Sendafa, 35 km north of the capital, according to a company official.

Addis Cable and Wire Manufacturing is another factory threatened with foreclosure. Its executives say the company had the potential to meet 33% of the country’s cable and wire demand. The factory is located on a 27,000 square meter plot in Gelan and employed 1,600 workers on 27 production lines, according to Tewelde Gidey, the factory’s founder.

Established four years ago with a total investment of five billion birr, it went live in 2021. Tewelde says the company only remained in production for eight months, ceasing operations in the last three months due to the influx of foreign exchange and inputs. shortages.

The company, according to Tewelde, took out a loan of nearly 300 million birr, although it was seized for 878 million birr. “The bank has launched an estimated price, and we have already paid almost 197 million birr of the 300 million birr loan.”

However, an official in CBE’s communications department said he would not have seized the company if it had paid 197 million birr out of the 300 million birr borrowed.

“The bank would tolerate the company paying the rest. And if so, how could the factory have been seized for 800 million birr? We cannot provide any further information on this,” the official said.

For Tewelde, he does not understand the need to seize or close factories amid the government’s initiative to reopen previously closed factories and put them into operation. “I don’t understand why the company should close while the government continues to reopen factories that were closed due to losses.”

Multimedia Designer, High Value Fundraising – Senegal


Job Overview/Summary:

The International Rescue Committee (IRC) responds to the world’s worst humanitarian crises and helps people survive and rebuild their lives. Founded in 1933, the IRC provides vital care and life-changing assistance to refugees forced to flee war or disaster.

The Global Partnerships and Philanthropic Services (GPPS) unit provides technical expertise and operational support to IRC’s private sector High Value (HV) fundraising teams so that they can focus on engaging forward-looking donors. GPPS is a truly one-of-a-kind HV ecosystem that provides a single, unified service model and experience that caters to the diverse revenue streams and partners of HV teams.

The candidate has an exceptional opportunity to join GPPS’ Partner and Corporate Affairs Engagement (PECA) team and advance our ambitious goals and vision! PECA engages the public across four HV revenue streams (Corporations, Foundations and Trusts, High Net Worth Individuals, and New Funding and Innovations) through a number of services, including operational partnerships; the policy and practice of in-kind donations; global giving in the workplace; donor engagement and cause marketing. The designer will work directly with frontline fundraisers on donor-related engagements for revenue-generating activities, including:

Main responsibilities:

  • Support the donor engagement team by creating graphics for HV newsletters, communications, partner presentations and other custom materials
  • Produce visually appealing materials and graphics for HV donor funding proposals and impact reporting
  • Lead all aspects of designing bespoke HV fundraising projects from conception to completion, including donor presentations, standardized design templates, reporting and custom campaign materials
  • Design and create visually appealing materials for current and potential VL partners and donors
  • Create and update custom private web pages for corporate and foundation partners, showcasing the impact of the partnership
  • Directing short videos for HV donor proposals, reports, and engagement opportunities, including script direction, footage research, graphics and animation implementation, and final product editing
  • Collaborate with the Creative Studio team on more important IRC strategic moments as needed, such as World Refugee Day, International Women’s Day, end of the year, etc. to create guarantees for high-value partners and individual donors
  • Support on other projects as needed for high value partner and donor solicitation and cultivation as well as GPPS design needs
  • Maintain brand consistency across all projects and work with Creative Studio on brand approval

Essential Qualities:

  • 3-5 years of experience designing and building assets, ideally in the fundraising industry
  • Mastery of Adobe Creative Suite
  • Knowledge of major video, audio and graphics tools including Adobe Creative Cloud, especially Premiere Pro
  • Mastery of post-production, including but not limited to color grading, sound design, build sequences, asset management and organization, etc.
  • Passion for IRC’s mission and dedication to partnerships with the private sector

Demonstrated skills and competencies:

  • Excellent time management skills and the ability to prioritize tasks while maintaining strong attention to detail is required
  • Strong verbal and written communication skills along with an ability to be clear and concise in all communications with a wide range of groups and individuals
  • Able to collaborate and coordinate with other creative team members, as well as clients, to ensure design and creation are on-brand and in line with the organization’s design standards
  • Attention to detail; ability to balance multiple competing priorities
  • Demonstrated ability to maintain positive, collaborative and productive relationships with staff at all levels

Desired degrees:

  • Knowledge of After Effects a plus

Working environment:

This role may require full-time or part-time (i.e. telecommuting) remote work. Applicants must have an alternate home or workspace from which they can effectively perform their work during regular hours.

At IRC, we seek to create a welcoming and inclusive environment not only for our refugee clients, but for all of our employees. As an equal opportunity employer, we value the strength of the diversity of voices, experiences and backgrounds that come together in our work. Fostering an inclusive culture with fair practices is everyone’s responsibility, and we regularly provide training and opportunities to learn more and find ways to do better. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, socio-economic status or disability status. We are committed to ensuring that people with disabilities are provided with reasonable accommodations to participate in the application or interview process, to perform essential job functions, and to receive other employment-related benefits and privileges. Please contact us to request accommodation. In your application, do not hesitate to indicate your preferred pronouns.

We recognize that few candidates can “check all the boxes”, but each person has their own unique strengths that they would bring to the table. In our commitment to building a diverse and authentic work culture, we invite you to apply anyway. You belong here.

The IRC and IRC workers must adhere to the values ​​and principles set out in the IRC Way – Standards for Professional Conduct. They are integrity, equality, service and responsibility. In line with these values, the IRC applies and enforces policies on protecting beneficiaries from exploitation and abuse, protecting children, anti-harassment in the workplace, fiscal integrity and anti-retaliation.

The salary ranges displayed apply to applicants based in the United States. The ranges are based on a variety of factors, including labor market, job type, internal equity, and budget. Exact offers are calibrated based on job location, experience, and individual candidate skills against defined job requirements.

How to register


Department of Justice and Department of Education Announce Fairer, More Accessible Bankruptcy Discharge Process for Student Borrowers | Takeover bid


The Department of Justice, in close coordination with the Department of Education, today announced a new process for handling cases in which individuals seek discharge from their federal student loans in the event of bankruptcy. The new process will help ensure consistent processing of federal student loan releases, reduce the burden on borrowers in pursuing such procedures, and make it easier to identify cases where release is appropriate. The Associate Attorney General has distributed guidelines outlining the new process to all U.S. attorneys.

Congress has set a higher bar for the discharge of student loan debt relative to other debt – borrowers seeking to discharge their loans through bankruptcy must demonstrate that they will experience “undue hardship” at unless the debt is paid. While the bankruptcy judge makes the final decision on whether or not to grant a discharge, the new process announced today provides Justice Department attorneys with clear standards for recommending discharge to the judge without unnecessarily cumbersome and time-consuming investigations. The new process will also help borrowers who did not think they could obtain bankruptcy relief more easily determine if they meet the criteria to apply for a discharge.

“Today’s guidance outlines a better, fairer and more transparent process for student borrowers in bankruptcy,” Associate Attorney General Vanita Gupta said. “This will make it easier for Justice Department lawyers to identify cases in which we can recommend the release of a borrower‘s student loans. We are grateful to the Ministry of Education for their partnership in the development of this guide.

“Congress may have set a higher bar for granting student loan discharge in bankruptcy, but in practice that bar has become very difficult for deserving borrowers to break,” the deputy said. -US Secretary of Education James Kvaal. “After decades of inaction in Washington, our Department of Education team was determined to partner with the Department of Justice to develop clearer, fairer, and more practical standards to guide recommendations for the release of student debt during bankruptcy proceedings. These tips are an important step in helping struggling borrowers, many of whom never completed their education or were misled by dishonest schools.

As part of the undue hardship analysis, courts look at the borrower’s past, present, and future financial condition. The new process will leverage data from the Ministry of Education and a new borrower-completed attestation form to help the government assess a borrower’s request for release. The Department of Justice, in consultation with the Department of Education, will review the information provided, apply such factors as the courts deem relevant to the undue hardship investigation, and determine whether to recommend to the bankruptcy judge to pay the borrower’s student loan debt.

The Department of Justice and the Department of Education are committed to making this system work for borrowers. The two agencies will continue to monitor how the process unfolds on the ground and will assess the effectiveness of these guidelines after the first year, and beyond if necessary.

By simplifying the process and setting clear standards, the agencies hope to significantly reduce the burden on borrowers and government attorneys, provide a clear path for borrowers to request waivers, and add safeguards to promote consistency and predictability.

Office building on the northwest side seized to be redeveloped


A northwest side office building is to be sold out of foreclosure and renovated to attract small and medium-sized businesses under a proposal that has received preliminary city approval.

The two-story, 21,000-square-foot building, located at 3953 N. 76th St., would be sold by the city of Milwaukee for $75,000 to Jefferson Crest LLC, under a plan approved Tuesday by the construction committee. Zoning, Neighborhood and Common Council Development. .

The full board is expected to consider this proposal at its November 22 meeting.

Jefferson Crest, led by Daniel Taylor, plans to do renovations totaling about $495,000, according to a report from the city’s Department of Development.

These renovations will create 17 small to medium sized office suites. The company hopes to attract tenants such as professional service providers and wellness service providers, according to the report.

Additionally, Jefferson Crest, which has three community residential facilities, a five-unit apartment building, and other income-producing residential properties, plans to move its office there from 8040 W. Appleton Ave.

There will also be the office move of Building New Pathways LLC, a provider of home health care services, according to its administrator, Siera Payne. This business is now located at 902 E. Hamilton St.

She told members of the zoning committee that there was high demand for small offices, including from contractors working from home during the COVID-19 pandemic.

“They are ready to come back to the offices,” she said.

The city acquired the building in 2011 through a property tax foreclosure. Other potential buyers in the past have abandoned their proposals due to financing and market conditions.

The vacant building has considerable deferred maintenance, including a leaky roof that affected its interior as well as faulty electrical and plumbing systems, according to the city’s report.

Tom Daykin can be emailed to [email protected] and follow-up instagram, Twitter and Facebook.

Bitcoiner ‘Pomp’ shouts ‘The Judge’ on CNBC – as Cramer becomes collateral damage – Bitcoin (BTC/USD)


A financial media outlet has appealed to one of cryptocurrency’s most vocal proponents Bitcoin BTC/USD. The interview saw an attempt to call out the guest for being an “evangelist” for Bitcoin, but instead turned haters into fans of the interviewee.

What happened: The Bitcoin bull and investment firm co-founder Morgan Creek Digital, Antoine Pompliano is well known for hosting podcasts, videos and having a newsletter devoted to world of cryptocurrency. He was invited on CNBC on Tuesday to share his thoughts on Sam Bankman Fried and the collapse of FTX FTT/USD and also what is the next step for bitcoin.

CNBC Host Scott Wapnerknown as “The Judge,” told Pompliano that one can do fundamental analysis for stocks but not for the cryptocurrency market, which Pompliano brushed off.

“I don’t believe that’s true. You can definitely do fundamental analysis,” Pompliano said. “There is a dislocation between price and fundamentals.”

Pompliano said that despite bitcoin falling 75% last year, 67% of bitcoin in circulation hasn’t budged in 12 months.

“We are witnessing the biggest battle of 2022 where it is Bitcoiners and HODLers against the macro environment.”

Pompliano said he bets on BItcoiners.

“Shopify and DoorDash are down 75% to 95%, down more than Bitcoin, if Bitcoin is so great, are we going to claim that Shopify is worthless, it’s over,” Pompliano asked at Shopify Inc. STORE and DoorDash Inc DASH.

Pompliano argued that Bitcoin is a decentralized peer-to-peer network with an excellent track record and that Bitcoiners are trying to “reintroduce timeless investment principles.”

Asked about the response to people’s criticisms now that the FTX events have happened, Pompliano said CNBC had scrolled through other investors who had stocks that underperformed Bitcoin.

“I believe Bitcoin over a long period of time will outperform a lot of other assets, I still believe that and I put my money where my mouth is.”

Pompliano on FTX, Sam Bankman-Fried: Pompliano said he hadn’t spoken to Sam Bankman-Fried recently, adding that the FTX event was shocking and surprising to many.

Pompliano said people were surprised at how resilient some assets were, given the collapse of the second-largest crypto platform.

“He was an actor who was not only regulated in some ways, but also engaged in Washington (DC) and with regulators,” Pompliano said.

Pompliano said he had a company that had money with FTX, had money on the platform, and had an advertising relationship with the company when asked about his relationship with it. .

Related link: Warren Buffett now owns Bitcoin, here’s how the Oracle of Omaha rose to prominence

On Buffett, Munger: One of the topics covered by Wapner was Legendary Investors warren buffet and Charlie Munger of Berkshire Hathaway Inc. BRKABRKB being against bitcoin.

Earlier on Tuesday, Munger said that Bitcoin was marked as fraud and was good for kidnappers, having previously called it “rat poison”. Wapner asked Pompliano if the two investors were right amid concerns about the industry.

“They don’t understand the technology,” Pomplinao said.

Pompliano said studies have shown that the US dollar is more widely used for money laundering than Bitcoin, but people want to have “headline-grabbing anti-Bitcoin statements.”

The Bitcoin investor said that buying large assets and holding them forever and averaging the dollar cost of large assets are two principles used by Buffett and Munger as well as Bitcoin HODLers.

“I believe that if Warren Buffett and Charlie Munger were between 25 and 35 years old today, they would be Bitcoiners. The difference, however, is that they did not have the opportunity to authorize the arrival of money based on decentralized software.

Pompliano said Bitcoin has outperformed the assets of Buffett and Munger over the past decade and both investors will continue to hate Bitcoin.

Others involved: After the interview aired, many criticized Wapner’s questions and showed their support for Pompliano whether they liked Bitcoin or not.

CNBC Host Jim Cramer tweeted that he was making a lot of money because Pompliano had challenged him to make “a lot of money”.

Cramer called Pompliano an “awesome guy” but said he had been turned into BlockFia company with great exposure at FTXof Pompliano.

“I love @Pomp, but he put me in BlockFi”, Cramer tweeted.

Pompliano fired back at Cramer that the CNBC host said he sold all of his cryptocurrency.

“LMAO Jimmy Chill!! You said you sold and bought a farm,” Pompliano tweeted.

Benzinga reported on Cramer changing his stance on cryptocurrency this year

bitcoin bear Peter Schiff tweeted in support of Pompliano, a rare occurrence.

“It is hypocritical for Scott Wapner to accuse Pompliano of pumping Bitcoin on CNBC when it was CNBC that gave him and other crypto pumpers constant free airtime to do the pumping” , Schiff said. tweeted.

Schiff too demand where the tough bitcoin questions were when the cryptocurrency hit new highs and a difference might have been made for investors.

“CNBC is more complicit in investor losses than Pomp.”

Co-host of Benzinga’s PreMarket Prep Denis Dick chimed on Twitter after watching the interview between Wapner and Pompliano.

“Great point from @APompliano. CNBC pumped Bitcoin relentlessly, and they don’t apologize for the downfall. So why should Pomp?”

Declaring a winner in the interview, Dick said “Pomp buried it.”

BTC Price Action: Bitcoin was up 1.4% at $16,788.84 at the time of writing and down 8.6% in the past seven days, according to data from Benzinga Pro.

Read more : Want to bet against Jim Cramer? New reverse ETF filed by the man who took on Cathie Wood

Photo by MoneyConf on Flickr

Nigeria cannot survive on endless borrowing – DMO


…says FG cannot access Eurobonds, lenders avoiding B-rated countries

The Debt Management Office has revealed that it is difficult for Nigeria to borrow in international markets, as global lenders and investors shun countries categorized as “B”.

According to the Director General of the DMO, Patience Oniha, Nigeria needs to accelerate its revenue campaign while seeking alternative sources of funding internationally. “We really can’t survive like this,” she said.

Oniha, while appearing before the House of Representatives Committee on Aid, Loans, and Debt Management to defend the DMO’s 2023 budget, noted that the federal government had been unable to reach its external borrowing target, noting that it was now seeking lenders in the United States and Europe.

She said: “Where there is a problem is new external borrowing. What was planned in the 2022 budget is 2.57 billion naira of new external borrowing and this, in terms of naira at the budget exchange rate, is equivalent to 26 billion dollars. The reality is that if it were before, we would have already issued Eurobonds to raise money and we would be in good shape. But let’s say that from the fourth quarter of last year, the international capital markets were not open to countries like Nigeria. So in 2021, there was about $6 billion to raise. We raised $4 billion for that one. But this year it’s $1.25 billion.

“International markets are not looking for countries with our -B ratings. Russia’s invasion of Ukraine, as you know, dramatically changed things in the world. So inflation rates are high, interest rates are high, and investors are saying there’s a lot of uncertainty about what’s going to happen. There is a threat of recession. So what they decided to do was put their money in G-7 securities: United States, Germany, France, Japan, etc. These countries also issue bonds. So that’s where investors are putting their money and rates have gone up dramatically.

Two global economic analysts and ratings, Moody’s and Fitch, recently downgraded Nigeria to a “B” category.

Speaking on debt servicing, the DMO boss said the government needs to pay attention to the deficit percentage in its annual budgets.

She said: “We really need to look at income. For the debt to be sustainable in the medium term, you must earn income. We should not have a budget of N17tn and N10tn deficit, and on top of that (there is) new borrowing of N8.8tn which is 50% of your budget.

How to build credit without a credit card


Creditworthiness is something every financial institution considers before lending someone money.

A credit report that shows responsible use of credit can make borrowing money to buy a house or car more affordable through lower interest rates. It can also be assessed by employers when you apply for a job, landlords when you want to rent an apartment and car insurers when they set your rates.

“We use credit every day,” says Jeanne Kelly, New York-based credit coach and founder of The Kelly Group. But everyone starts with a clean slate, and building credit can take time.

What credit score do you start with?

Credit scores are three-digit numbers created from information in your credit report, including payment history and the amount of debt you have. The score tells lenders how likely you are to repay what you borrow.

To have a score, your credit report must show one or more accounts that are at least six months old and at least one account that has been reported to one of the three credit bureaus (Equifax, Experian, or TransUnion) in the past last six months. .

Credit scores range from 300 to 850. A lower score indicates that there is a greater risk of not paying your bills, based on your history. “Without good credit, you can get a high interest rate, or worse, you may not even qualify for the loan,” says Lyle Solomon, senior attorney at Oak View Law Group, a California-based firm specializing in consumer credit. the consumption.

A good credit score, according to the Fair Isaac Corporation (FICO) scoring model, is 670 or higher. Another scoring model used by financial institutions is VantageScore, which considers 661 or more to be a good score.

6 Ways to Build Your Credit Without a Credit Card

Opening a credit card, making purchases, and paying off your balance each month is a common way to build up credit from scratch. But this is not the only way.

In fact, 10% of your FICO score is based on your “credit mix,” or the types of loans or lines of credit you have. When you’re just starting out and have little or no payment history, your credit mix is ​​even more important, according to MyFICO.com.

Here are six alternatives to opening a credit card to build credit.

1. Credit-generating loan

A credit loan essentially lets you lend money to yourself, Kelly explains. This is an installment loan with fixed monthly payments, but instead of giving you the money up front, the lender deposits it in a savings account or certificate of deposit (CD).

Some banks withhold access to the account until you repay the loan in full, while others will release funds monthly if you make payments on time. “The good thing about it is you show a payment history, and the money will come back to you, and that’s why it’s a loan for yourself,” Kelly explains.

However, these loans often charge interest and origination fees, so make sure you understand the total costs before getting one.

2. Personal loans

Personal loans, which can be secured or unsecured, allow you to borrow a large or small amount of money to use for anything. You repay the loan in fixed installments over several years. The lender reports the balance and your current payment activity to the credit bureaus.

With a low or no credit score, it can be difficult to qualify for a personal loan at a competitive interest rate. Asking a trusted friend or relative with good credit to co-sign the loan could help you get approved and may lead to a better interest rate.

However, warns Kelly, the co-signer should be prepared to step in if you can’t make a payment on time, because a late or missing payment also affects their credit.

3. Car loan

A car loan is money you borrow from a car dealership or third-party lender to buy a car. Usually this requires a cash deposit, although this is not always the case. And without a credit history, you might want to add a co-signer to qualify for a better interest rate.

Payments are part interest and part principal, and due on the same day each month until the balance is paid off. If you miss a payment, the lender may be able to repossess your car. It is similar to a mortgage in this way, since the loan is secured by a physical asset. As with other loans, the lender is responsible for reporting your car loan payments to the credit bureaus. An on-time payment history will boost your credit score.

4. CD loan

A CD is like a savings account, except your money is locked in for one to five years. The trade-off is that you can earn more interest than you would by keeping your money in a traditional savings account. You can always withdraw your money earlier, but you will have to pay a penalty.

A CD loan involves taking out a loan and using the CD as collateral. This means that you receive a lump sum of cash and then pay back what you borrowed, plus interest, to the bank each month. If you miss payments, the bank may take your CD and may even charge a penalty, Solomon says. “Using a CD-secured personal loan to improve your credit score will only work if you make payments in full and on time,” he adds.

5. Federal Student Loan

The U.S. government lends students money to pay for undergraduate and graduate degrees and professional certification programs — and you don’t need a credit history to qualify.

Unlike private student loans, there is no credit check to obtain most federal student loans. Instead, eligibility is based on citizenship, registration, and in some cases financial need, so it can be a good way to start building credit early.

On-time payments will increase your credit score, while late or missed payments will have a negative impact. “Student loans can also help improve your credit score by increasing your average account age and diversifying your credit mix,” Solomon says.

Some student loans only go into repayment after the borrower has left school, which is called forbearance. Even if you are not actively making payments while forbearing, the loan will still appear on your credit report as being in good standing.

6. Peer-to-peer lending

Peer-to-peer (P2P) lending platforms help you borrow money from individuals rather than a bank or credit union. Investors lend money and profit from the interest you pay on the loan.

“Generally, P2P lenders look for scores ranging from fair to excellent, i.e. 580 or higher,” Solomon says, so you’ll need a credit history to qualify. “Because the whole process is online and streamlined, you can get a loan in just days if you qualify,” he adds.

Another benefit is that P2P lenders only do a soft inquiry to check your credit report, Solomon says. Traditional lenders usually do a thorough investigation that could affect your credit score.

A disadvantage of using P2P platforms is that they can send your account to collections faster than a traditional lender if you miss a payment.

Other options

If you’re looking to potentially speed up the process of building credit or are worried about borrowing money just yet, here are some additional strategies to increase your score.

  • Piggybacking on someone else’s good credit: Many credit card companies allow cardholders to add authorized users to their accounts. As an authorized user, you may obtain a card to use for purchases, but the primary account holder is ultimately responsible for payments. The potential benefit to you, assuming the primary account holder is a responsible borrower, is that their credit account will show up on your credit report, along with payment activity. But not all lenders report authorized users to the credit bureaus, Kelly says, so make sure that’s an option before you tangle with another borrower.
  • Report rent and utility payments to offices: The three major credit bureaus do not require landlords and property managers to report rental or utility payment activity, but they will welcome information when submitted. If you pay your rent and utility bills on time, consider asking your landlord if they can report your payments to the credit bureaus or do it yourself. There are several online services (many are free, but some charge a one-time or monthly fee) that you can sign up for. Some of them will even report the last two years of positive payment history.
  • Report recurring bills to offices: Reporting recurring payments, such as streaming subscriptions and mobile phone plans, is another way to prove your reliability. bill payment. Various online services, including one offered directly by the Experian credit bureau, allow you to connect the bank accounts you use to pay your recurring bills, then report those with a positive payment history to some or all three credit bureaus .
  • Pay your bills on time: The most important factor when it comes to establishing good credit is debt payment history, which makes up 35% of your FICO score. Making full and timely payments on every loan or line of credit is imperative to maintaining strong credit.

The take-out sale

The best way to build credit is to borrow money and pay it back on time. You can do this through credit cards or installment loans, although it can be difficult to qualify for either if you don’t have a credit history to back it up. . The solution can start with options that don’t require a credit check, like federal student loans or credit loans, or options that ask for collateral in exchange for a lower interest rate, like CD loans. .

You can also sign up for a service that reports non-debt bills that you regularly pay on time, such as monthly fees or rent, to the credit bureaus. “These are things that can work so quickly [as loans] and they’re inexpensive,” Kelly says. “These are building blocks.”

051868-F1 – Albert Lea Tribune



Posted 2:34 p.m. on Sunday, November 13, 2022


NOTICE IS HEREBY GIVEN that the Default occurred under the terms of the Mortgage described below:
DATE OF MORTGAGE: December 18, 2017 ORIGINAL MORTGAGE AMOUNT: $15,000.00 MORTGAGE RESPONSIBLE(S): Nancy Earles, Single and Marian Hensrud, Single Document Number: A-530748 Transaction Agent: Not applicable Mortgage identification number of the transaction agent: Not applicable
Lender/Broker/Mortgage Originator: US Bank National Association Residential Mortgage Servicing Agent: US Bank National Association COUNTY IN WHICH PROPERTY IS LOCATED: Freeborn Property Address: 1402 Lee Ave, Albert Lea, MN 56007-3145 Tax ID Number: 340481800 LEGAL PROPERTY DESCRIPTION: Lot 1, Block 6, Albert Lea Academy Addition AMOUNT DUE AND CLAIMED DUE ON DATE OF NOTICE: $19,353.81 THAT all pre-requisites for input have been complied with; that no action or proceeding has been commenced at law or otherwise to recover the debt secured by said mortgage, or any part thereof; that it is a registered property; Pursuant to the power of sale contained in said mortgage, the property described above will be sold by the sheriff of said county as follows: DATE AND TIME OF SALE: December 15, 2022 at 10:00 a.m. PLACE OF SALE: County Sheriff’s Office Law Enforcement Center Conference Room, 411 South Broadway, Albert Lea, Minnesota to pay the debt secured by said mortgage and taxes, if any, on said premises and costs and disbursements, including attorneys’ fees permitted by law, under subject to reimbursement within six (6) months from the date of the said sale by the mortgagor(s), their personal representatives or assigns. If the mortgage is not reinstated under Minn. Stat. §580.30 or property is not redeemed under Minn. Stat. §580.23, the mortgagor must vacate the property no later than 11:59 p.m. on June 14, 2023, or the next business day if June 14, 2023 falls on a Saturday, Sunday, or holiday. Mortgagor(s) released from financial obligation: NONE THIS COMMUNICATION IS FROM A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THIS PURPOSE. THE RIGHT TO VERIFICATION OF THE DEBT AND THE IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME LIMIT PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION. THE TIME AUTHORIZED BY LAW FOR THE REDEMPTION BY THE MORTGAGE AGENT, HIS PERSONAL REPRESENTATIVES OR AFFECTED, MAY BE REDUCED TO
DATED: October 26, 2022
National Association
Wilford, Geske & Cook, Pennsylvania
Mortgage creditor lawyers
7616 Currell Blvd.
Office 200
Woodbury, Minnesota 55125
(651) 209-3300
File number: 051868-F1

Albert Lea Tribune: Oct. 29, 5, 12, 19, 26 Nov. and 3 Dec. 2022

Scams and risks to be aware of


Decentralized finance has a lot of promise for investors but it is also full of dangers. Here’s what you need to know and how to avoid getting scammed.

Decentralized finance – referred to as “DeFi” – refers to the shift from traditional, centralized financial systems to peer-to-peer finance made possible by decentralized technologies based on the Ethereum blockchain. From lending and borrowing platforms to stablecoins and tokenized BTC, the DeFi ecosystem has launched a vast network of integrated protocols and financial instruments.

While the DeFi ecosystem has opened up a world of new possibilities for crypto users, it has also given rise to several scams and bad actors. So, let’s explore some of the most common DeFi scams and how to avoid them.

man in hoodie using laptop and phone

Ponzi schemes

Ponzi schemes have been around for centuries, but they’ve taken on new life in the DeFi space. In a Ponzi scheme, early investors receive returns on capital raised from subsequent investors, making the project appear profitable when in fact it is insolvent. You should read our coin on the BitConnect Ponzi scheme if you want to know more about how it works.

Exit scams

Exit scams occur when a project raises funds from investors and then disappears, taking the money with them. This scam is particularly common in the Cryptocurrency ICO space but can also happen in the DeFi space.


Since DeFi protocols are built on the Ethereum blockchain, they are also susceptible to Ethereum-based attacks. In November 2021, DeFi lending platform bZx was hacked, resulting in the loss of over $55 million worth of cryptocurrency. The attack exploited a flaw in the bZx protocol that allowed the attacker to take out a loan, post collateral, and withdraw the collateral, effectively “borrowing” the funds without ever having to repay the loan.

hooded person with binary code streams

How to Invest in DeFi Safely

To avoid being scammed, it is essential to do your research before investing in a DeFi project. Be sure to read reviews and check out a project’s code before investing, and always be aware of the risks involved with any crypto investment.

So how can you safely invest in DeFi? Here are a few tips :

  1. Diversify your portfolio across a variety of DeFi protocols to mitigate risk.
  2. Pay attention to the network effects of the protocols you invest in. Stronger network effects tend to lead to more resilient protocols.
  3. Keep an eye on gas charges and use optimized protocols for low charges.
  4. Stay up to date on the latest developments in the DeFi space. New protocols and features are released all the time, and keeping up with the latest news will help you identify new opportunities and avoid potential pitfalls.

Staying Safe in DeFi

You should also be aware of signs of a scam, such as promises of guaranteed returns or unrealistic claims. If something sounds too good to be true, it probably is. By being aware of the risks and taking precautions, you can safely participate in the DeFi space and potentially earn high returns on investment.

As with any investment, there are always risks. However, following the tips outlined in this article can help minimize these risks and increase your chances of success when investing in DeFi. Remember, you should only invest in projects that you understand and have a strong track record.

We plunder the past and borrow from the future

About this column:

In a weekly column, written alternately by Eveline van Zeeland, Eugène Franken, PG Kroeger, Katleen Gabriels, Carina Weijma, Bernd Maier-Leppla, Willemijn Brouwer and Colinda de Beer, Innovation Origins tries to guess what the future will look like. These columnists, sometimes joined by guest bloggers like Maarten van Andel, all working in their own way to find solutions to the problems of our time. So tomorrow will be good. Here are all previous articles.

The earth has amassed a lot of solar energy from the past in the form of fossil fuels (solar stocks). In the space of 100 years, we have plundered these solar stores by consuming far more energy than we can produce from sources such as the sun, wind, hydroelectricity and biomass (solar flows). We are now trying to stop this depletion of resources. However, we are still making two crucial mistakes: we have started to deplete the earth’s mineral resources (lithium, cobalt, copper and other rare metals) and we have started to borrow biomass from the future.

Critical mineral reserves are more likely to run out first than fossil fuels, even in this century. And cutting down and burning trees releases more CO2 than burning coal. Newly planted trees would absorb this CO2 again in 30 years, but that’s a lot like a 30-year mortgage. Do something you can’t afford now, but do it anyway by borrowing future resources. This involves risks and costs money.


CO2, however, is not money. CO2 from burning trees and coal is chemically identical and is now being released into the air and causing global warming. There is only one type of CO2, and there is nothing that can be borrowed in the future. It is a pure error.

We cannot continue to plunder the past, because the reserves will one day run out. We also cannot continue to borrow in the future, because this house of cards will also collapse one day. Complex Energy Subsidies and CO2 accounting won’t change that. We must halve our energy consumption no matter what. At least the looting and borrowing will slow down, and we will buy time to adapt society without lurching from crisis to crisis.

Investigation to be completed by end of month, SBP says

The SBP building in Karachi. News/Dossier

ISLAMABAD: Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, informed the Senate panel on Friday that the investigation into currency manipulation with the alleged involvement of banks to make high profits would be terminated by by the end of the current month.

State Finance Minister Aisha Ghous Pasha has asked the SBP to impose the maximum sanctions against commercial banks involved in the minting of billions of rupees in order to put in place an “effective deterrent”.

SBP Governor Jameel Ahmad told reporters after the Senate Standing Committee on Finance meeting that the SBP had taken administrative measures to control the outflow of dollars. “We imposed payment limits of $30,000 per credit card and estimated that this step could save $500 million out of total payments of $1.4 billion on an annual basis,” said the governor.

He added that the ongoing investigation had been extended to more banks. Initially, the central bank issued show cause notices to eight commercial banks. He said the SBP had not revised the current account deficit upward projection for the current fiscal year and that it would remain around $10 billion.

Earlier, the Senate Standing Committee held its meeting under the chairmanship of Senator Saleem Mandviwalla in Parliament. Some senators have called on the government to revoke the license of those banks involved in the alleged currency manipulation.

In its written response, the SBP told the Inspected Banks’ Sell/Buy Transaction Review Board that the overall increase in banks’ foreign exchange earnings was mainly due to higher spreads due to increased volatility. . “This has been taken seriously and as such, SBP has taken enforcement action by sending show cause notices to inspected banks. After completion of due process, enforcement action will be taken accordingly” , indicates the answer.

Governor SBP told senators that the central bank had issued instructions to clear letters of credit (LC) of $100,000 that were on hold due to dwindling foreign exchange reserves. He said remittances on export earnings could be obtained from banks provided reasonable premiums are offered by the banks. He said 80% of the letters of credit have been erased while the rest require central bank clearance.

The Senate panel was told that 2,800 containers were stuck at the port, 640 of which contained hazardous materials and wheat. FBR Chairman Asim Ahmed said their revenue was involved and container clearance could not be done due to LC restrictions and non-payment of demurrage.

Member customs told the committee that 100% surcharges were imposed on these containers. The committee members asked the government to solve this problem through coordination between the FBR, the SBP and the port authorities.

The meeting began with a detailed discussion on the harassment felt by law-abiding and tax-paying citizens of Pakistan due to the shortcomings of the online system introduced to facilitate the filing of tax returns.

Senator Kamil Ali Agha recounted the case where he received notice 111, the final notice, after which no recourse was available. He urged the committee to look into the matter and ensure that these tactics used by the FBR are curbed. He shared with the committee details of his online tax returns that were filed before the deadline.

Discussing tobacco taxation whereby the government imposed an advance withholding tax of Rs 390 per kg on tobacco, Senator Dilawar said it was aimed at shutting down domestic players on the wish of two multinational giants. The committee did not ask the FBR why national actors objected to such a tax, which was adjustable and which they could recover when the final tax debts were settled. The Minister of State for Finance and Revenue assured the committee that every effort would be made to keep things on track.

Considering the point of public importance raised by Senator Kamran Murtaza regarding the dismissal of daily wage employees recruited by the Balochistan Customs Department, the committee took the issue seriously and raised questions regarding the minimum wage. The committee ordered the customs department to share full details of the employees and said it was also a violation of the quota system.

While addressing the issue of importation of vintage cars into Pakistan, the committee felt that unnecessary restrictions in this regard were unnecessary and efforts should be made to facilitate this trade.

The committee was informed that no restrictions were imposed by the Department of Finance and Revenue and that the matter was with the Department of Commerce.

Thoroughway descendant files complaint in graveyard saga


A descendant linked to one of the Broad Run Thoroughfare community cemeteries is suing a brewery and Prince William County for failing to protect the historic burials.

This article was written by the press partner of WTOP InsideNoVa.com and republished with permission. Register for Free InsideNoVa.com email subscription today.

A descendant linked to one of the cemeteries of the Community of passage of Broad Run is suing a brewery and Prince William County for failing to protect historic graves.

Frank Washington, whose family is buried in one of the cemeteries, filed a lawsuit in Prince William County Circuit Court in August against the county, county board of supervisors, acting county superintendent Elijah Johnson and International Investments LLC.

The lawsuit seeks a court order to halt all groundwork on the property and allow Washington and the county to conduct archaeological surveys to identify the cemetery’s boundaries. He is seeking to transfer ownership of the Farm Brewery Cemetery to Broad Run in Washington and provide unspecified damages.

The saga of the cemeteries near 16117 John Marshall Highway technically dates back to 1970, when the property’s first owner, James Scott, died without a will.

Land tax payments ceased in 1994, according to the county. The county began foreclosure proceedings in 2017 and put the property up for auction in 2020 after a descendant tracing and notification process.

The Washington lawsuit says neither he nor any member of the Scott family “received a property tax bill, delinquency notice, or tax lien notice” related to the property and was never notified of the tax auction.

The lawsuit also cites the state code that prohibits levying taxes on cemetery grounds, arguing that the property should never have been seized.

The lawsuit says the cemetery was marked as a historical monument as early as 1874.

“It, along with the Fletcher-Allen and Peyton cemeteries, forms an integral part of the historic Thoroughfare area of ​​Prince William County and is deeply significant to the descendants of the multiple families who can trace their lineage,” the lawsuit states.

However, while the area was listed on the County Cemetery Survey, no indication of Scott Cemetery was included in the sale.

The land was sold to International Investments LLC, which is registered in the name of Michelle DeWitt. She is one of the owners of the Farm Brewery in Broad Run.

The problems increased in 2021 when brothers Frank and Dulany Washington – whose ancestors were among the earliest Thoroughfare residents – prepared to bury their aunt, another longtime resident, in one of the property’s two cemeteries.

The Washingtons and other advocates began to pressure the county to protect the cemeteries because the brewery was clearing land on or near the two cemetery sites.

Advocates said the cemeteries hold the graves of more than 200 freed slaves and Native Americans as early as the 19th century.

The Coalition to Save Historic Thoroughfare said a third cemetery had been discovered on land cleared by the brewery. The Dewitts said they were unaware of any graves at the site, which were largely unmarked, and they were planting corn.

The county cited the company for not obtaining a permit before beginning to clear the land.

The owners of the brewery have promised to restore the cemetery to the state it was in before their work.

Washington argues that the original purpose of the work was to construct a performance stage. He said the brewery changed its plans to circumvent county citation requirements.

The County Board of Supervisors finally approved a $300,000 deal with WM Tinder Inc. to purchase two acres containing cemeteries last year.

Table also reserved a $3.6 million set of initiatives to better identify and study historic cemeteries, conduct archaeological studies in the Thoroughfare area, and do more to tell the story of the area’s historic black settlements, such as the settlements of Thoroughfare and Carver Road.

Despite action taken by the council last year, the lawsuit argues the brewery has continued to clean up areas of the cemetery and plans to build a corn maze above the grounds. He alleges that heavy machinery carried out operations at least in March and June of this year.

The lawsuit excoriates the county for its “deliberate and flagrant actions” in failing to protect the cemetery and allowing its “eventual desecration”. It says the county’s “negligence and dereliction of duty” enabled a seizure and an “unlawful tax sale”.

The lawsuit says the family is still barred from the cemetery.

“The actions (and inaction) of the defendants in this case are all the more egregious when the region’s racial history and historical treatment of freed African American slaves and Native Americans are taken into account,” the court said. court case. “The actions (and inaction) of the defendants echo the morally repugnant but once common belief that these people were insignificant and worthless.”

A hearing was scheduled for October 28, but was canceled. No further hearings have been scheduled in this case.

What the published documents say and what they don’t say


A media frenzy broke out in Kenya on November 5, 2022 Release of three Chinese loan contracts signed between the Kenyan government and China Export Import Bank (Eximbank), to finance two phases of Standard Gauge Railway of Kenya (SGR).

The 700 km railway connects the port of Mombasa to Nairobi via Naivasha. It has been plagued with controversy from the start. Concerns ranging from procurement, its enormous cost and the government’s reluctance to allow detailed scrutiny of the contracts that underpin Kenya’s biggest infrastructure project since independence.

The publication of the three contracts by the new Kenyan Minister of Transport and Infrastructure came almost four years after rumors began to circulate that Kenya had staked its prized Mombasa port as collateral for the initial $3.6 billion loans for the rail project. The Minister’s disclosure of the contracts was intended to clarify matters. Instead, the air is thick with skepticism and the complaints of selective disclosure.

Our study

In April 2022, a team of researchers from Johns Hopkins University published a guidance note and work document summarizing nearly two years of investigations into the collateral rumour. The team was made up of academics and professionals with extensive practical expertise in commercial law, international project finance and auditing.

Our team discovered that the collateral rumor stemmed from a critical error made by the Office of the Auditor General of Kenya. The government’s chief auditor had mislabeled Kenya Ports Authority, owner of the port of Mombasa, as the “borrower” in charge of repaying China Eximbank SGR loans.

The Harbor Authority was not a borrower, we concluded.

Recently released loan agreements confirm that “the Republic of Kenya, represented by the National Treasury of Kenya” is the borrower and is “fully liable for the payment and repayment obligations” of the loan agreements. The contracts stipulate that this obligation remains whether or not the Kenya Railways Corporation and the Kenya Ports Authority fulfill their own obligations.

The recently published loan contracts corroborate previous statements by the Kenyan and Chinese governments. The Government of Kenya has pledged to repay this sovereign debt with government revenues, just as it repays Eurobonds and the World Bank.

In other words, these are sovereign loans, signed by the central government, not by state-owned companies in Kenya.

We also analyzed the “Take or Pay Agreement (TOPA)” signed between the Kenya Railway Corporation and the Kenya Ports Authority. In this agreement, a copy of which was shared with us by colleagues in Kenya, the Kenya Ports Authority had agreed to ship a fixed amount of freight on the railway each month or pay the shortfall to Kenya Railway Corporation. This income was to be deposited by the company in an escrow account and used to help repay the Chinese loan. But the port authority’s legal responsibility under Kenyan law rests with the Kenya Railway Corporation, not the Chinese bank.

The Kenya SGR Credit Enhancements were carefully and creatively designed to improve the bankability of a railway project which has significantly improved the Kenya Ports Authority’s competitive position in the region. Yet, like most large investments with significant environmental, security, and connectivity benefits, the benefits of this project will mature over time, while the upfront costs are high.

Credit enhancements like TOPAs increase the bankability of projects, showing the government’s commitment to raising various revenues to repay the lender. But ultimately the debt is guaranteed by the sovereign.

Our research focused only on the collateral charge. It did not address concerns about procurement or corruption that may have taken place around this project. The other contracts were not released. Nevertheless, the three loan contracts are sufficient to establish that the port of Mombasa was in no way given as security for the Chinese loans.

The office of the Auditor General of Kenya is renowned for its integrity, and we commend the keenness with which the office and its courageous leaders approach their task of protecting Kenyan taxpayers. Its officers seem to have good reason to worry about the Kenyan government’s corruption and mismanagement. It is with this in mind that the Auditor General leaked letter in Parliament must be understood.

Sovereign immunity

However, as noted in our research, the Auditor General’s report opinion that the Government of Kenya had “waived immunity” over the assets of the Kenya Ports Authority and “expressly guaranteed” that they could be used to repay the Chinese loan was incorrect.

Since all sovereign governments enjoy immunity from suit under international law, they are routinely required to waive this sovereign immunity in international contracts. This is how if a dispute arises, it can be arbitrated. Sovereign immunity waivers are general and relate to the resolution of disputes, not the specification of any particular asset as collateral.

Our conclusion, therefore, was that the waiver of sovereign immunity did not mean that the assets of the Kenya Ports Authority were deliberately put at risk.

bitter experience

The Kenyan auditor general was also concerned that the loan agreement would specify that arbitration of disputes would take place at the China International Trade and Economic Arbitration Commission. He is “one of the oldest and most active arbitration institutions in the world.”

It is normal for arbitration to take place outside the borrowing country. However, the Auditor General was not alone in his concern on neutrality of a Chinese room. Kenya may insist that the presiding arbitrator be chosen by both parties from among a neutral third country. This should allay some concerns about fairness, should a dispute arise.

However, our research team suggests that two factors contributed to the Auditor General’s interpretation. First, because of sometimes bitter experience, the Auditor General’s office did not trust the Kenyan government to protect the interests of Kenyan citizens.

Second, and equally important, the Auditor General’s office and Kenyans in general were likely prepared to be wary of the Chinese bank as well due to widespread rumors of “China debt traps”. This was triggered by the case of Port of Hambantota in Sri Lanka. There, the same Chinese bank was accused in the pages of the New York Times (wrongly, as it happens) to take over a loss-making port when Sri Lanka was facing balance of payments difficulties.

The geopolitically heavy accusation of deliberate “Chinese debt traps” and “asset seizures” distracts from a real problem: infrastructure, like natural resources, is prone to corruption. Yet Kenya faces risks by unilaterally issuing contracts for a single lender and a single company. Almost 20 years ago, government, industry and civil society actors came together in London to build the Extractive Industries Transparency Initiative.

Governments join, commit to transparency, and Extractive Industries Transparency Initiative publishes complex contracts. A similar global initiative for public infrastructure is clearly needed. Since Kenyan taxpayers will ultimately bear the cost of the project, they have a right to know all the details. And they also have the right to have the information discussed fairly and professionally.

Why ‘perpetual bonds’ rock credit markets



The bonds may be “perpetual”, but the headaches they caused in Asia in early November were immediate: an obscure South Korean insurer defied convention by initially choosing not to reimburse investors, in a alarm signal that a wave of companies could follow suit. This caused the prices of many “perps” to drop from a record high. Signs that the Federal Reserve would guide interest rates even higher than expected deepened the rout. The turmoil has reminded global investors that stocks that are mundane parts of the financial plumbing in normal times can present unexpected risks when pressures increase.

1. What are perpetual bonds?

In theory, these are obligations that a borrower can choose never to repay. Perpetual bonds, or perps, are issued by companies with no maturity date, or with very long terms such as 50 years. In contrast, the duration of many corporate bonds around the world is around only 8 years. But in reality, investors generally expect perps to be paid off after just a few years. Indeed, most securities have so-called purchase option dates, when the borrower can decide to buy them back. Most of the time, that’s just what they do. Investors hold perps primarily because they pay higher interest than normal bonds, to offset the risk that borrowers may violate this convention, making them closer to stocks paying regular dividends.

2. What is a call date?

When a perpetual bond is issued, a date is set when the issuer has the option to redeem the bond at a specific price, usually face value. If the issuer chooses not to redeem the bond, it must start paying the holder a higher interest rate than before the redemption date. Purchase dates are usually set to land a few years after issuance and thereafter at regular intervals, with payments increasing by a notch if the bond is not redeemed. Over the past 14 years, since the 2008 financial crisis ushered in a long period of low or falling interest rates, investors had grown accustomed to borrowers choosing to redeem bonds on the first maturity date. repayment, as the issuer could often obtain cheaper financing. than what they should have paid after the reset.

3. What are the risks of perpetual bonds?

Normally they are not considered risky, but two characteristics incorporate the possibility of big losses. On the one hand, the prices of a perpetual bond are more sensitive to changes in interest rates – and therefore more volatile – than comparable bonds of a shorter duration. A rise in interest rates that makes existing lower-rate bonds less valuable has a greater impact on a note that could be locked up for decades than on a note that matures in a year, for example. Second, perps are a type of subordinated or junior subordinated debt, which means that in the event of default, they risk being wiped out before forms of senior debt like government bonds or bank loans. In that sense, they are akin to contingent convertible bonds, known as CoCos – a cross between a bond and a stock designed to prevent a repeat of the taxpayer bailouts from the 2008 financial crisis.

4. Why do borrowers and investors love them?

Borrowers have various reasons for issuing perpetual notes. Banks and other financial firms often use perpetual bonds to raise additional Tier 1 (AT1) capital, a lender’s first line of defense after equity against financial shocks. They can be converted into equity or written down to increase a lender’s equity base when the company is facing financial difficulties and its capital ratio falls below a certain level, thus minimizing any pain. systemic. Non-financial borrowers can opt for this debt, despite the relatively higher cost, because they technically don’t have to repay the principal – or at least not for many years. While perpetual bonds are riskier than conventional bonds due to maturity date uncertainty, the higher yields are a draw for investors. The call option on the note, meaning investors can potentially get their principal back, is another reason some buy them. Additional options such as increasing interest if not called by the issuer and converting from a fixed rate to a floating rate after an initial period can also make their yields more attractive than regular notes.

5. What happened to perpetual bonds this year?

Inflation took off as the Covid pandemic waned and Russia invaded Ukraine, disrupting supply lines for energy and other raw materials. In response, the Fed and other central banks have dramatically raised interest rates in an attempt to rein in rising prices. This has changed borrowers’ calculus for deciding whether to redeem perpetual bonds at their call date: as interest rates rise, making it more expensive to buy and replace a perp, even the rate plus triggered by skipping the call may be lower than what the market rate would be to refinance now. The November turmoil was sparked when two life insurers in South Korea did just that, deciding to delay their ticket redemptions, the first such move since 2009. In the ensuing market slump, Notes issued by Kyobo Life, a major Korean insurer, and AIA Group Ltd., Hong Kong’s largest insurer, were hit with Korean, Hong Kong and Chinese banks. While one of the Korean insurers that initially delayed backtracked a few days later, triggering a broader rebound in stocks, the asset class is still coming under greater scrutiny as others redemption dates are looming. An Australian regulator has warned borrowers not to prepay capital securities if they have to pay higher interest to issue new ones.

6. What is the impact of this?

It is not uncommon for borrowers to ignore a call option, although it is rare for banks. Investors never liked that, because who wouldn’t want to get paid sooner rather than later, especially when you can reinvest that money in higher interest rate securities? A longer maturity on the bond also means more uncertainty. Against the backdrop of a global downturn in bond markets, the prospect of many borrowers skipping calls has already shaken investor confidence. Such decisions could also affect the issuer’s future borrowing costs: investors will reward borrowers who exercise call options, as this will be seen as a sign that they are well capitalized. Those who don’t could be punished – forced to offer higher rates to entice buyers – due to concerns about their liquidity. At least $3.7 billion of perpetual bonds issued by Asia-Pacific financial companies will become callable before the end of this year, according to data compiled by Bloomberg.

–With help from Harry Suhartono, Dorothy Ma, Yuling Yang and Catherine Bosley.

More stories like this are available at bloomberg.com

Judge: AG has powers to investigate potential racial discrimination by car insurers


Washington Attorney General Bob Ferguson’s office has confirmed that the attorney general has the authority to investigate potential racial discrimination by auto insurers PEMCO and Progressive.

The bureau said anyone who might have a civil rights complaint should go online and fill out a general consumer complaint form.

Follow this link to read additional KIRO 7 stories

The AG said the companies made the inquiry public as they fought to quash an investigation into the use of credit history to choose customers and how much they would be charged for car insurance.

A Thurston County Superior Court judge has dismissed efforts by insurers to halt an investigation into potential racial discrimination against Washington drivers.

Companies both use consumers’ credit histories, or “credit-based insurance scores,” to decide whether or not to sell their auto insurance products and at what price.

Ferguson’s office said there is evidence the practice disproportionately harms people of color.

The AG said companies charge people with lower credit scores significantly more.

Jesse Jones of KIRO 7 has done historical investigative work on how credit scores factor into insurance rates.

A study by the Consumers Federation found that drivers with low credit scores and perfect driving histories can pay up to 79% more for insurance than drivers with excellent credit, in a minimum policy of the state.

Follow this link to read additional KIRO 7 stories

Auburn Library’s November 15 conference to cover a book on Minot’s traveler


Elizabeth Letts Photo submitted

Author Elizabeth Letts plans to join the Auburn Public Library via Zoom at 4 p.m. on Tuesday, November 15 to talk about her book, “The Ride of Her Life: the True Story of a Woman, Her Horse, and Their Last- Chance Journey Across America.”

The main character, Annie Wilkins, was from Minot, according to a press release from Donna Wallace, the library’s adult services manager.

In 1954, Annie was 63, an unlucky farmer. She had lost her farm to foreclosure and her doctor had given her two years to live. Instead of taking the place offered to her in the county charity house, she decided to try to fulfill her lifelong dream of seeing the Pacific Ocean by riding there on horseback.

Annie’s journey has taken her through towns and cities for nearly two years.

In her research for the book, which also took about two years, Letts visited local libraries and historical societies in the towns Annie passed through. She will share her journey in researching and writing this book.

To register or for more information, visit auburnpubliclibrary.org or call the referral desk at 207-333-6640, ext. 4. People must leave an email address when registering as the Zoom link for this program will be emailed on the day of the program, November 15th.

Discover the other upcoming events in the region!

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Taxes on student debt relief will impact black borrowers


FFor some borrowers, the impact of the White House Student Debt Cancellation Program may be influenced by the interpretation and implementation of tax laws.

Several states could end up taxing this relief, creating a situation where borrowers must make a payment of up to $1,000 in the short term due to the long-term financial benefit of cancellation. On November 4, Supreme Court Justice Amy Coney Barrett refused to block the forgiveness plan after two borrowers claimed in a lawsuit that it would force them to pay higher taxes.

To understand how state tax policy might affect eligible borrowers, Bloomberg News spoke with Dorothy Brown, Martin D. Ginsburg Chair in Taxation at Georgetown University Law Center and author of The Whiteness of Wealth: How the Tax System Is Impoverishing Black Americans — and How We Can Fix It.

The conversation began with the recent lawsuit filed by two plaintiffs in Indiana and took place before Coney Barrett’s decision on Friday. The lawsuit was first filed in September with a plaintiff who is an attorney for the libertarian Pacific Legal Foundation; in response, the Ministry of Justice said the government had taken steps to ensure that this person – and anyone else who wanted to – could opt out of the scheme. The latest lawsuit also asked the Supreme Court to act to prevent the reversal from taking effect.

What do you think of the legal challenge that posits that state taxes will negatively impact borrowers whose loans are forgiven?

The Indiana lawyer is going to fail because he claims he will have to pay higher taxes, when he can retire. If you don’t have to get the debt forgiven, you don’t have to pay taxes.

More importantly, there’s this legal doctrine that says you can’t sue if you don’t have what’s called standing, which means there’s a specific harm you’re alleging . There are longstanding cases that basically say you can’t sue as a taxpayer just because your taxes are going to go up. Because if that were the case, you could imagine the lawsuits over Trump’s tax cuts in 2017. The “my taxes will go up” argument flies in the face of many precedents.

Federal law allows this debt relief to be tax-free due to the U.S. bailout that the President signed in March 2021. In any state that immediately complies with federal law, there will be no tax relief. taxes on this.

Two of the states that have said they will mandate student debt forgiveness — and a few states that have said they might — are in the South, which has the highest concentration of black residents in the country. How might taxation disproportionately harm certain groups of people?

It is true that 56% of black Americans live in the South. But of the population whose debt is forgiven in the South, what is this racial demographic? That’s what I would like to know. How many black borrowers are receiving this debt relief and currently living in the South? Do we see black university graduates living elsewhere?

Black borrowers and other borrowers of color are more likely to be Pell Grant recipients, meaning they are eligible for $20,000, compared to $10,000 for some other borrowers. Does it make sense then that if they get the full $20,000 and they live in states that will impose their relief, they will be disproportionately affected?

Absolutely. The tax bill is going to be higher and three-quarters of Pell Grant recipients are black and Latino.

Do you imagine that the immediate burden might be too much for some people to bear?

You must earn less than $125,000 per year if you are single [to qualify for the relief], and we have to talk about how much less than $125,000 these people make. And if they living paycheck to paycheck, then $1,000 [tax] bill you didn’t anticipate will be hard to pay – and people may have to weigh that. Of course, in the long run, [erasing] up to $20,000 might be great, but how are you going to fund that thousand dollars? Are you going to take a loan on your credit card, which will represent a huge interest rate — much higher than on your student debt? Some can afford the luxury of [support from] family members, but research shows that black people generally don’t have access to this intergenerational wealth.

Is it worth weighing whether someone can absorb that extra fee next year before applying?

I would say find a way to pay the taxes and get that debt forgiven. Think about it: $1,000 of a [tax] invoice against $20,000 in debt relief or $500 from a [tax] bill for $10,000 in debt relief. It’s a real pain in the short term, but I think it’s worth bearing.

You noted in congressional testimony last year that black borrowers already pay more taxes than their white counterparts. How could a one-time tax on a student loan add up to other bills?

Every April 15, black Americans pay more than their white counterparts. So this is just another example of a policy that I believe was designed to help black borrowers – and at the federal level helps black borrowers because they don’t pay extra taxes. It is states that often have regressive tax regimes that would hit black borrowers the hardest.

What could states do to make student loan forgiveness fairer?

Just follow the federal rules, which would allow this to be tax free. A state legislature could enact a single measure and essentially say, “Forgiveness will not be taxed.”

And what can the federal government do to help people more?

More student loan debt forgiveness – $10,000 or $20,000 is a good start. Now let’s do a little more.

Student loan debt is a drag. It’s a brake on buying a house, it’s a brake on investing in their future. It’s a drag on the economy, really. If they didn’t have this debt around their necks, they could make better financial plans in the future.

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The GOP doesn’t deserve congressional scrutiny


The most fundamental pillar of democracy is, by definition, ensuring that political parties respect the will of the people, no matter what or whom the public votes for. Any break with this is an attack on the foundations of this republic – an attack that again could have very real and violent consequences.

So, as Americans head to the polls to choose their next congressional representatives, this fact should weigh heavily in their decision: if the Democrats lose, they will accept the election result; if the Republicans lose, their members, including some in the party’s upper ranks, will likely question the legitimacy of the outcome or allege the midterm elections were robbed in some form.

This electoral denial representing the view of the majority of the GOP caucus is reason enough to believe that the Republican Party does not deserve to control either house of Congress right now. Americans should vote with that in mind and prevent Republicans from winning on Tuesday. What better message can the electorate send than to show the GOP that extremism and voter denial will not be tolerated at the ballot box?

Of course, millions of voters support the GOP not because of their no-election vote, but despite it. They agree with the party’s positions on taxes or abortion, do not support the idea of ​​voting for the Democrats’ legislative platform and are ready to turn a blind eye to the antidemocratic turn of the GOP. Asking them to become single-issue voters in this election is a tall order.

But even beyond rejecting the election, there are plenty of other reasons why voters should reject the prospect of a GOP majority in the House and Senate. Just take a look at what the Republicans have sworn to do if they can overthrow Congress, starting with their threat to launch a series of what appear to be nothing more than bogus investigations.

Republican leaders have said they intend to dig into Hunter Biden, for example, who is already under investigation by the Justice Department. But the president’s son is not a government employee, and wasting Congress’s time and money pursuing him is nothing more than a political attack aimed at smearing the president’s reputation as he approaches. 2024. Just ask yourself: Would Hunter Biden be under congressional investigation? led by Republicans if he was not the son of the Democratic president?

The answer is of course no. But that’s part of the GOP’s attempt to distract — and potentially cripple — ongoing critical investigations into Trump and attempts to overturn the 2020 election results. That’s why many Republicans are eager to open impeachment investigations against Biden, though they did not specify what the president’s impeachable offenses were. They hope their investigations of his son will pave the way for impeachment proceedings, but the fact is there is no legitimate reason to open an impeachment inquiry against Biden. As Republican Sen. Ted Cruz of Texas admitted, his party may well impeach Biden “whether warranted or not.”

Republicans have also taken aim at the House Jan. 6 committee, with some suggesting they may investigate the committee members themselves, as well as Attorney General Merrick Garland and the FBI. To be clear, congressional investigations, whether conducted by Democrats or Republicans, have often been politically motivated. But the House inquiry into January 6 is a genuine attempt at fact-finding, which is crucial to understanding exactly what happened that day. In an ideal world, the committee’s findings would inform legislation that could prevent this kind of assault on American democracy from happening again. The investigations proposed by Republicans, however, are purely political and serve no greater purpose than to blunt yet another tool to strengthen the country’s Democratic safeguards.

Republicans clearly plan to use Congress as an opposition research firm for their campaigns heading into 2024, not to adopt the kind of conservative agenda that some voters may sincerely support. And that’s precisely why the Republican Party today – with its complete conversion to Trumpism – is simply unfit to govern: Because it doesn’t want to.

This reality not only impacts the trajectory of American democracy, but also the health of other democracies around the world, the economy, and the entire planet. Time and time again, the GOP has shown that it is unwilling to respond to urgent crises. McCarthy, the Republican leader, has, for example, threatened to withdraw US financial support to Ukraine as it retaliates against the Russian invasion of its territories.

And with a global recession in the forecast, the last thing the public needs is a legislature that isn’t interested in working with the executive branch to quickly get help to those who need it most. A recession requires a responsive government – ​​a government that can be quick to provide relief and adjust fiscal policy as needed. The longer it takes Congress to act in a recession, the deeper the recession will be. (And while Republicans like to talk about inflation on the campaign trail, most economists say they haven’t provided any plan that would actually improve the situation.)

What the public needs is a government that can avoid the worst of a recession. But Republicans only have plans to make matters worse, proposing to return to their ways of using the debt ceiling — putting the faith and credit of the US government on the line — as a bargaining chip to cut spending. .

None of this is to say that voters should ever view Republican candidates as inherently disqualified for office or that Democrats shouldn’t be challenged. On the contrary, as this editorial board has stated, democracy requires at least two healthy parties, and rebuilding a more moderate, anti-Trump Republican party is crucial to saving the republic. The GOP desperately needs leaders who, regardless of their views on taxes or welfare, believe in the fundamentals of democracy. But sadly, even some of the most moderate Republican candidates for Congress seem to have no desire to loosen Trump’s grip on the party leadership.

The GOP has more than done its part to demonstrate that its loyalty is to Trump and his movement, not to the interests of the American public or even to the party’s purported political goals. With each passing day, Republicans are working harder and harder to align themselves with autocrats and far-right extremists. And it’s time to judge them by the company they keep. This year alone, they have invited Viktor Orbán, the far-right and anti-democratic Prime Minister of Hungary, and Giorgia Meloni, the new Italian Prime Minister and leader of a neofascist party, to their various events and conferences.

This iteration of the Republican Party — with its open disdain for US elections, its allegiance to far-right autocratic movements, and its cavalier attitude toward political violence — is one of the most dangerous political movements in the world today. This, of course, does not mean that its members hold the most odious views or that they would establish the most repressive government by any means. But that is to say that the Republican Party is actively fanning the flames of the global war on democracy, and it will only get worse if it does so while controlling the levers of the most powerful government in the world.

Voters should not elect a GOP majority in Congress — and Americans should be especially wary of election deniers on the ballot. The only way to protect American democracy is to prevent those who attack it from controlling it. And the only ones who have the power to do so are the voters. It’s time for them to use it.

Editorials represent the opinions of the Editorial Board of The Boston Globe. Follow us on Twitter at @GlobeOpinion.

Airports Authority of India orders lockdown of ‘awarded’ works at Halwara : The Tribune India


Tribune press service

Nitin Jain

Ludhiana, November 4

In what appears to be another hurdle at the long-awaited international airport at Halwara in Ludhiana, the Airports Authority of India (AAI) has ordered the seizure of the awarded works before undertaking the remaining works.

About the project

  • Total area: 161.28 acres
  • Terminal area: 2,000 m²
  • Awarded cost: Rs 3,876.65L
  • Perimeter wall, access road: Rs 309.33 crore
  • Missed deadlines: January and June of this year

Construction of the interim terminal and related works at a cost of Rs 47 crore – suspended since March – would be further delayed with this development, which came three months after the IAA in July decided to resume construction of the balancing works .

In a communication to the Public Works Department (PWD), the Managing Director (CEO) of Ludhiana International Airport Limited (LIAL) – a joint venture between AAI and the Government of Punjab – requested details of the works executed by the PWD to the site as well as its cost and the foreclosure status of contracts awarded by the Department.

“With reference to the letter from the IAA and the resolution of the LIAL board meeting mentioned above, you are requested to provide details of the work carried out by the PWD on the site as well as its cost and foreclosure status of the contracts you have awarded. This would make it even easier for the IAA to resume balance work,” the LIAL CEO wrote.

In response to the communication, the PWD suggested to the CEO of LIAL-cum-Director of Ludhiana Airport that the internal roads and related infrastructure works were awarded to a Ludhiana-based company on November 8, 2021, while that a firm in Himachal Pradesh had been awarded the job. to construct the temporary airport building on December 9, 2021.

“Work on the site was halted by both agencies in March due to the non-release of funds by the Greater Ludhiana Area Development Authority (GLADA) despite repeated requests and reminders,” the PWD responded.

The department further suggested that, in accordance with the instructions of the IAA to exclude the awarded works, a file for obtaining the authorization to terminate the bidding of the awarded works was transferred to the competent authority and the necessary instructions to contractors would be issued once the eviction is approved.

In order to avoid any litigation/arbitration and to ensure the smooth progress and resumption of the remaining works, the PWD suggested to the AAI to form a joint committee of PWD and AAI officers to visit the site and evaluate the work already done. “As GLADA has not made payment for work already awarded and completed despite its mandate for administrative approval, a joint meeting of departments may be convened on payments,” the PWD said.

Fans puzzled as to why Kim Kardashian ‘keeps borrowing clothes from the dead’


Social media users have slammed Kim Kardashian for “borrowing clothes from the dead” after her eldest daughter, North West, wore Michael Jackson’s hat on Halloween.

In videos shared on TikTok, the nine-year-old was seen dressed as a pop star in the music video for his 1988 hit single, ‘Smooth Criminal’.

To complete the outfit, North donned the exact white fedora hat Jackson wore during the video.

Kardashian bought the hat, alongside one of Jackson’s jackets, at a California auction in 2019. At the time, she revealed the memorabilia still featured the singer’s makeup.

The Halloween costume drew backlash from social media users. Some claimed Kardashian was showing off a “pattern” of clothes from deceased personalities after she recently wore Marilyn Monroe’s Jean Louis dress to the Met Gala.

“I find it so disrespectful. Not everything should be a costume or worn for entertainment. Leave them alone people’s clothes,” one person wrote.

Another said: “Is this real? If so first Marilyn Monroe now MJ… @KimKardashian why are you so weird and disrespectful.

A third person wrote, “Does anyone else think this is very weird @KimKardashian still wearing or trying to wear dead people’s clothes?”

One user joked, “Kim should have been Tomb Raider for Halloween as she stole all those dead’s belongings.”

In the latest episode of The Kardashiansthe SKIMS founder revealed she “begged” Ripley’s Believe It Or Not Museum to allow her to wear the dress.

In a chat with her sisters, Kourtney and Khloe, Kardashian said she initially got permission after trying out and integrating a prototype.

However, the offer was rescinded due to concerns about damage to the dress when she was unable to fit the original on her hips.

“I wrote them a creepy, pleading email, but they were very firm. They were like, ‘We can’t get insurance. I say to myself, ‘We will take the insurance’. I have the answer to everything. They’re just like, ‘No, we can’t,’” she explained.

Kardashian was then allowed to wear the dress after losing 16 pounds to fit into the design.

The Independent has contacted representatives for Kim Kardashian for comment.

‘Nothing is foolproof’: Stolen wallet led to identity theft


If you lose your wallet, someone can steal your identity and open bank accounts in your name. This could mean racking up bad credit and battling claims and fraudulent creditors for years. That’s what happened to Jessica Roy, associate editor of the LA Times’ Utility Journalism Team.

She says her wallet was taken out of her purse at a bar in 2018, but she didn’t give it much thought. “I didn’t really keep much in there. There was cash, my driver’s license, a few credit cards. [Then the] the next day I saw that they had made some transactions. I reversed them, I changed the cards. And I thought that was the end. »

However, months later, in mid-January 2019, she started getting a lot of mail.

“It was like, ‘Congratulations on your new Bank of America account. Congratulations on your new Wells Fargo account. We’re processing your Target card application.’ And I realized that they were using my identity to start opening new accounts.

Roy thinks the thieves may have obtained his social security number from the dark web. It’s common, according to his reports. Personal information like passwords or social security numbers come from data breaches and online hacks that happen all the time, and many people ignore them.

No one is safe, Roy said. “I talked in my story about the Equifax hack, which was in 2017, [and that impacted] 147 million Americans. [That is] personal information from a credit bureau. The reason you need to keep your identity so secure is because the credit bureaus track your every financial move, and they don’t even keep your data safe.

At every turn, Roy believed that because she was a journalist and did her due diligence, she would be able to stop fraudulent claims and transactions.

“I never thought this would happen to me. And when it happened I thought, ‘You know what, I’m going to take action’. I’m going to be over this. I’m going to making these phone calls and demanding that the banks fix things. And that’ll be the end of it. And they’re going to be super helpful and deal with it and close those accounts. And all of that will be a closed chapter.” But it continued.

Eventually, some arrests did occur in Roy’s case, which she says is rare. “It wasn’t because ‘oh, the police dug into my crime and worked night and day to solve this problem.’ It’s because [the suspects] were arrested and arrested for something else. And incidentally, they happened to have a bunch of my ID in the car with them.

Roy notes that the thieves repeatedly tried to access his email and bank accounts, but failed because they were secure. Things like two-factor authentication prevented bigger issues down the line.

“They called me pretending to be my bank and asked me to repeat my password as if it was a security question. And I realized I was like, ‘ Oh my God, it’s them. They call me on Christmas to try and steal my identity some more.'”

She adds, “I really think the conclusion I came to from going through this and reporting this story is that yes, there are steps you can take. Nothing is foolproof, and it’s a systemic problem that needs to be fixed.

She advises proactively freezing your credit and implementing two-factor authentication for every account, including email and bank accounts. As a resource, Roy has compiled a list of prevention tools and ways to respond to identity theft.

‘No viable path’: Deal to keep 82 acres on Eagles Island dries up

Eagles Island (Courtesy/Eagles Island Working Group)

WILMINGTON — A tumultuous bid to retain part of Eagles Island has ended after failing to secure state funding and garner support from private investors.

Unique Places to Save, a Chapel Hill nonprofit, announced on Tuesday that it has terminated a contract with Diamondback Development to purchase a combined 82 acres for $16 million. The group says it missed a $12.2 million grant from the North Carolina Land and Water Fund as the primary reason for terminating the contract.

READ MORE: Eagles Island conservation plan on thin ice following minimal local support

“Unique Places to Save relied on state support to build the momentum needed to bring private philanthropic donors to the table,” noted a press release from the nonprofit.

The plan to purchase the property on the western banks of the Cape Fear River was born earlier this summer when the non-profit organization paid $100,000 towards the purchase agreement. He was given a deadline to raise the rest of the money by the end of this year.

UP2S hoped to develop park space, education and historic centers, focusing on the Gullah Geechee heritage and maritime history of the region, as well as creating pathways for visitors to explore the trails, do kayaking and participating in bird watching opportunities. Official details of the plans were never made clear.

“Without NCLWF support and any other viable state or federal grants for land acquisition, the project has gone cold and there appear to be no major donors interested in preserving the land and, therefore, no way forward. viable,” the statement noted.

PCD reported earlier in the month, the nonprofit missed out on funding due to NCLWF concerns over the price of the land relative to its valuation, a lax conservation plan and lack of formal support from public entities.

Following his rejection, UP2S executive director Clark Harris – who was hired to lead the project’s fundraising efforts in August – told PCD that did not mean the deal was done. He said the focus would be on creating a solid strategy to secure financial support from private investors.

On Tuesday, Harris said the nonprofit was looking for major donors among its private partners, but found no willing contributors. He said the nonprofit lost $100,000 on the deal and all other donations it received since its launch in June would go to its ongoing Alligator Creek Restoration Project on the island.

UP2S is investing $2.6 million in the creek with funding from the National Fish and Wildlife Foundation. It’s one of more than 20 projects the ten-year-old nonprofit is currently preserving. It also holds 5,429 acres of conservation easements and over 100 miles of waterways across the country.

Harris did not reveal total donations from the Eagles Island project.

With the conservation effort dead in the water, 14 acres — bought by Diamondback Development in foreclosure in 2015 — are back on the table to be turned into the 100-foot Wilmington Hotel and Spa by developer Bobby Ginn.

The building plan for the hotel and spa predates the conservation effort. Ginn submitted site plans in November 2021. It is currently zoned for business, and developers only need state and federal permits for the right project.

In July, Diamondback owner Jay Shott told the Port City Daily that he was impressed with UP2S and that the project depended on whether the public wanted it to happen or not. The hotel and spa projects were put on hold after evaluation by the technical review committee, following the transfer of the contract to UP2S.

Eighty-two acres of Eagles Island are located in a 100-year flood zone, which means there is a high risk of water accumulation. Yet 14 acres along the river is not; these highlands are partly where the hotel and spa should be built.

Shott said the financial gain would be about the same whether the area is developed or conserved.

The land was initially valued at $26 million, but Diamondback would have received tax relief for the difference through mitigation credits.

Shott told the Port City Daily on Tuesday he was disappointed to see the UP2S deal fall through.

“They worked hard on the project,” he said.

At the September 20 NCLWF meeting, Chairman Jason Walser questioned whether the hotel development would go ahead given rising construction costs.

Shott said he will consult with his partners on next steps in the coming weeks when PCD asks about his future. He added that he would be happy to work with UP2S in the future.

Advice or comments? E-mail [email protected]

Want to know more about PCD? Subscribe now then sign up for our morning newsletter, Wilmington Wireand get the titles delivered to your inbox every morning.

9 Ways to Earn Free Cryptocurrencies


Everyone loves free things, especially those with the potential to appreciate, for example, cryptocurrencies. Free cryptocurrencies can give you an entry into the crypto market or even be a way for you to expand your portfolio. Getting free crypto is never a bad idea, regardless of the benefit it offers.

There are many ways to get free cryptocurrency, and here’s how.

What are free cryptocurrencies?

Buying crypto to own is the normal thing people do; however, this is not the only way to own cryptos. Several crypto platforms have ways to give away crypto for free. However, they are not exactly “free”, as they are often incentives to perform certain tasks, often revolving around marketing.

In most cases, the required tasks are simple to complete and involve posting messages, signing up for bonuses, and more.

9 ways to earn free cryptocurrency

Now let’s look at the possible ways to get free cryptocurrencies.

1. Signup bonuses and promotions on crypto exchanges

Some crypto platforms and exchanges offer a sign-up bonus. They offer sign-up bonuses as a reward to anyone signing up on the platforms and completing verification processes if needed. Additionally, some offer bonuses when someone signs up through your referral link. Once the referred completes the required process, you or both get the sign-up bonuses.

Following the exchanges’ social media platforms and subscribing to their mailing list can help you stay informed about upcoming promotions and time-limited bonuses. Some platforms where you can earn sign-up bonuses include Coinbase, Crypto.com, Gemini, BlockFi, Phemex, and WeBull.

2. Crypto Staking

Staking is a process that involves lock or hold your cryptocurrency over time for interest. The process often takes place in a staking pool using the proof-of-stake consensus model. It allows you to earn a certain percentage continuously, especially if you hold it for a long time.

Crypto.com, for example, offers up to 14.5% annual reward on crypto staking (on select cryptos); however, stablecoins are placed on an annual percentage return of 8.5%. Additionally, you can stake cryptocurrencies on exchanges like Coinbase, Binance, etc., while some cryptocurrency wallets also come with built-in cryptocurrency staking, like Exodus and Atomic.

3. Participation in parachuting

An airdrop is a hassle-free method of getting free crypto that is more like a gift. Airdrops arouse enormous interest and the adoption of a crypto token before its launch. The process involves distributing free cryptos to interested participants. But you would have to do a few things to be a beneficiary.

Different platforms have different criteria to be met to be eligible for an airdrop. However, in most cases, the requirements revolve around building hype around the crypto token and promoting it on various platforms. All you also need is a wallet to store the token.

Many airdrops deliver parts that end up being worthless. Therefore, you should ensure that an airdrop is made by reputable brands or developers before getting involved. Even at that, you’ll need some luck to get involved in a profitable airdrop.

4. Learn and earn

Taking courses in cryptocurrency might be a bit boring. However, it could get fascinating when rewards are attached. Learning and earning programs provide a two-way benefit as you gain knowledge and earn crypto at the same time.

Rewards are given for completing course modules, watching video tutorials, taking quizzes, and more. Top learning and earning platforms include Coinbase, Binance, CoinMarketCap, KuCoin, etc.

5. Crypto Loan

In crypto lending, you deposit cryptocurrency with exchanges that will offer it to investors. You then earn interest on the loaned cryptocurrency daily, weekly, or annually. The borrower must submit collateral in the form of cryptocurrency to the exchange. The value of the collateral is always greater than the loaned cryptocurrency, and the borrower risks losing their collateral if they fail to meet repayment agreements.

Many crypto lending platforms offer an interest rate of 10-20% per annum. Platforms you can lend your crypto to include CoinRabbit, BlockFi, Nexo, and YouHolder.

6. Play game (P2E), exercise (M2E)

If you like to play games, you can earn crypto from your passion. Some platforms offer crypto as an incentive to play games. The process is known as “play to win” because you unlock crypto tokens as you complete in-game missions. You can also get in-game assets in the form of NFTs, which you can sell or exchange for crypto. Common P2E crypto games are Sandbox, Lucky Block, Tamadoge, MetaBlaze, etc.

But if sitting and playing isn’t your thing, you can also try exercising to earn some free cryptocurrency. Move-to-win reward participants with crypto to get up and out, whether walking, running or otherwise.

7. Mining of cryptocurrencies

Mining requires the use of powerful computer systems using cryptographic algorithms to solve complex equations. The process requires a decentralized network of computers to operate and a lot of computing power, which makes it difficult for a single person to perform. Therefore, it is best carried out by specialized companies or groups of interested individuals.

Unfortunately, the process is not so easy for solo miners due to its complexity. Joining a mining pool is a good idea because you need a lot of hash power and a high hash rate to mine Bitcoin. Common bitcoin mining software includes CGminer, Awesome Miner, Easy Miner, Kyptex Miner and ECOS.

8. Conduct surveys

Several platforms solicit people’s opinions and feedback to help in decision-making. Therefore, they want you to take surveys and get paid in cryptocurrency. Several surveys will be offered to you daily if your comments are useful and consistent. These platforms have profit thresholds that you must reach before you can withdraw. The limit varies from platform to platform. Major survey sites that pay with cryptocurrency include Timebucks, Grab Points, Survey Time, Contiply, and InstaGC.

9. Crypto Faucets

Crypto faucets allow you to earn crypto for performing simple tasks. The platform rewards you for performing simple tasks like playing games, solving puzzles, watching ads, etc. You don’t need any formal training to benefit from a crypto faucet.

Getting involved in a faucet is usually straightforward. Typically, you need to register by filling in some basic information and your wallet address. then you can start performing the required tasks. Platforms that offer faucet services include Cointiply, Bestfaucetsites, Free Litecoin, MoneroFaucets, and Faucet Crypto.

Beware of scams

In your attempt to secure free crypto, beware of scams – freebies are often traps. Instead, ensure that the necessary measures are implemented to mitigate possible risks.

Do not disclose sensitive information, such as your login credentials and wallet credentials, to anyone. Beware of unknown emails and social media posts asking you to receive rewards for clicking a link. Phishing links could steal your personal information, passwords and PIN.

Also watch out for programs that require you to redeem your coin to receive more tokens. Scammers often use this method to trick people into getting their cryptos. Staying and trading on reputable platforms can help mitigate the risk associated with cryptocurrency fraud.

Understand the reporting impact of restrictive covenants



Understand the reporting impact of restrictive covenants

Financial institutions often include borrowing covenants in their loan agreements. PICTURES | SHUTTER

Organizations usually enter into loan agreements when they borrow from financial institutions. Financial institutions often include borrowing covenants in their loan agreements.

In summary, covenants are predefined conditions to be met by the borrower in a loan agreement. They include financial ratios such as liquidity, solvency, interest coverage and total assets to debt. These ratios are included in loan agreements by lenders to ensure repayment of their loans in accordance with the loan agreement.

Any breach of these financial ratios by an organization often results in a loan that would otherwise be long-term in nature, becoming immediately repayable. This is because the lender has the legal right to demand repayment. In addition, the borrower does not have the unconditional right to defer payment for at least 12 months after the end of the reporting period.

This implies that these borrowings will be reclassified from non-current liabilities to current liabilities on the balance sheet due to non-compliance with borrowing covenants. Indeed, although the loan is not repayable within 12 months of the end of the reporting period, it can be reclaimed by the lender at any time without reason following a breach of a covenant.

Organizations need to understand the reporting implications, available remedial actions, and their timing to avoid adverse effects of covenant breaches on their financial statements.

Organizations should be clear about the covenant testing date referenced in their loan agreement and ensure they are monitoring compliance taking into account their reporting period.

They must pay attention to the various complexities of these arrangements. For example, organizations should consider the impact of a grace period that allows the borrower to rectify a breach of covenant that results in immediate repayment of the loan.

Organizations should consider the impact of other waivers granted by lenders as a result of covenant breaches and their timing. If an organization breaches a borrowing covenant after the reporting date, the borrowing is a non-current liability on the balance sheet.

The author is a managing partner at PwC Kenya. He writes and gives numerous speeches on corporate reporting.

Purple Rumor Mill: Brandin Cooks, Packers Reign Finishing, Chase Claypool


October 2, 2022; Houston, TX, USA; Houston Texans wide receiver Brandin Cooks. Mandatory Credit: Kevin Jairaj-USA TODAY Sports.

Vikings rumor mill, October 30

VikingsTerritory’s purple rumor mill is a chronicle of two days each week. All of the week’s rumors are lassoed and filed in two places – the Saturday and Sunday articles – for review. Today is the edition of October 30.

Remember – rumors are rumors. What you read over the weekend in these articles is what the world is talking about regarding the Vikings, not necessarily things that will come to fruition.

Rumor: The Vikings have an interest in acquiring Brandin Cooks from the Houston Texans.

October 11, 2020; Houston, TX, USA; Houston Texans wide receiver Brandin Cooks. Mandatory Credit: Troy Taormina-USA TODAY Sports.

The Vikings don’t have a huge need for a wide receiver – unless you think Adam Thielen isn’t very good anymore. Indeed, Thielen is 32, but that is not considered old.

Still, for unknown reasons, Minnesota obviously has an interest in Brandin Cooks, KJ Hamler and various other passers.

KSTP Darren Wolfson Told Mackey and Judd on YouTube this week, “They seem to be looking for a receiving target that can extend the field, whether it’s a KJ Hamler or a Brandin Cooks.”

And Wolfson knows his stuff, so this needs to be taken seriously.

Rumor: This may be the end of the Packers’ stranglehold on the NFC North — like, for a long time.

October 16, 2022; Green Bay, Wis., USA; Green Bay Packers quarterback Aaron Rodgers. Mandatory Credit: Jeff Hanisch-USA TODAY Sports.

That appears to be at least partially true, as the Packers are 3-4 in seven games.

However, no one on the planet would be surprised if Green Bay had about five consecutive wins. that the packers do is another story.

In terms of long-term dominance — as the Vikings trend upward — it all depends on Green Bay’s next quarterback. Can this franchise really hit three quarters of the Hall of Fame in a row, potentially extending Favre-Rodgers-_______’s 40-50 straight streak?

Probably not. In that vein, yes, Green Bay’s hold on near-flawless quarterbacking play is likely coming to an end. If not, well, the Wisconsin team is the luckiest sports franchise in the world.

Vikings Rumor Mill (after)

Rumor: Like Houston Cooks, Minnesota may want to trade for Chase Claypool.

October 10, 2021; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers wide receiver Chase Claypool. Mandatory Credit: Charles LeClaire-USA TODAY Sports.

The aforementioned Wolfson also backed this one up.

He told the same group on the Mackey & Judd Show at the end of this week, “I don’t feel anything on point, that there was any serious dialogue, but my understanding is that they did at least investigate Claypool.”

Between Cooks and Claypool — two relatively big names — the Vikings have to be half-serious to get rich at wide receiver.

49ers gossip Kirk Cousins ​​is back

Dustin Baker is a political scientist who graduated from the University of Minnesota in 2007. Subscribe to his daily YouTube channel, VikesNow. He host a podcast with Bryant McKinnie, airing every Wednesday with Raun Saw and Sally from Minneapolis. His Viking fandom dates back to 1996. Guilty pleasures listed: Peanut Butter Ice Cream, “The Sopranos” and The Doors (the band).

What can or should Cleveland do about predatory out-of-state homebuyers? Editorial Board Roundtable


For Cleveland, the problem of predatory out-of-state investors who buy distressed properties, then ignore housing laws and citations when collecting rent and write down the value of surrounding properties before reselling them, is not new. Out-of-state buyers surged during the Great Recession, when Slavic Village became the epicenter of the Wall-Street-fueled foreclosure crisis that left many Cleveland homes on the market.

Now, in a post-pandemic era of high inflation, high rents, and a large inventory of substandard housing in Cleveland, the problem is back.

And this time it threatens again Cleveland Mayor Justin Bibb’s “housing for all” project – a plan greased by one-time money from the American Rescue Plan Act to provide much safer housing, both affordable and market-priced housing, in Cleveland.

The problem is particularly acute on the East Side where, in 2020, 45% of single-family, two-family or three-family home sales went to investors, up from just over 15% in 2004, according to a survey. There is also the domino effect amplified by buyers’ use of limited liability companies – limited liability companies – often formed for a single property, effectively shielding owners from liability, without any deep-pocketed parent company. to account, then selling to another similar LLC. if things get too hot.

Cleveland City Council President Blaine Griffin called the blatant exploitation of these investors and the damage they cause to city neighborhoods “criminal”, telling cleveland.com reporter Lucas Daprile that “this what they are doing is totally neglecting these properties once they get them and totally devastating our neighborhoods.

The best way to counter this problem is unclear.

Creating different housing enforcement rules for different types of landlords raises equity issues. The state could make it more difficult (and more expensive) to set up limited liability companies. Using the city’s tenancy registry to require designation of the beneficial owners of a property could be another.

The late Cleveland Housing Court Judge Ray Pianka drew attention a decade ago during the foreclosures crisis for its innovative solutionsincluding the imposition of fines on foreign investors millions of dollars for violations, including past violations. But these hefty fines were often imposed on large companies domiciled in the United States. Have today’s predatory landlords learned their lessons and found new ways to escape accountability?

So what can or should be done about today’s predatory investors in Cleveland? The round table of the editorial board offers its reflections.

Thomas Suddes, editorial writer:

State legislation is the most feasible solution – a statewide law to regulate LLCs organized to own a single home, for example.

Eric Foster, columnist:

There are tools available now, such as strong code enforcement, preventing non-compliant corporate investors from using the eviction process, and converting court fines into real estate liens to prevent sales. However, the long-term solution must involve developing the areas where these societies prey. Easier said than done, I know.

Lisa Garvin, Editorial Board Member:

It costs $99 to register an LLC with the Ohio Secretary of State’s office, and applicants can conceal their identity by registering through a third party. It’s time to close the loopholes and toughen up a registration process that allows slum dealers to operate with impunity and commercial landlords to avoid paying taxes on freight charges.

Victor Ruiz, member of the editorial board:

If Mayor Bibb wants to see his housing strategy come to fruition, then he will have to aggressively use legal action against these negligent landlords. Capitalism allows them to exist, but if they break and break the law, they must be held accountable.

Mary Cay Doherty, Editorial Board Member:

Cleveland may need policies to prevent unscrupulous people from taking advantage of LLC liability protections and anonymity. Urban Institute research analysts note that Minneapolis requires a natural name on rental licensesand that makes public the register of rental permits. Harvard sociologist Adam Travis’ suggestions include increasing fees and establishing minimum liability insurance.

Elizabeth Sullivan, opinion director:

Cleveland needs to come up with an aggressive plan of attack to counter this problem if they don’t want it to get worse. This could include mobilizing area nonprofits and foundations already supportive of Bibb’s housing goals to pressure the state and legislature to act against LLC abuses and/or new city ​​rules to require the appointment of the beneficial owner on every real estate transaction.

Do you have anything to say on this subject?

* Send a letter to an editor, that will be considered for print publication.

* Send general questions about our Editorial Committee or comments on this Editorial Board Roundtable to Opinion Director Elizabeth Sullivan at [email protected].

Indians worry about unemployment, corruption; inflation fears fade


New Delhi: Urban Indians worried about unemployment and financial and political corruption, Ipsos survey finds. Interestingly, while two in ten urban Indians were worried about inflation, India ranked last out of 29 markets surveyed for concerns about inflation, according to October results of the ‘What Worries the World”.

For citizens of the world, inflation remained a top concern, posting a 2% increase from the previous month. Globally, citizens were concerned about issues related to poverty and social inequality, unemployment, crime and violence, as well as financial and political corruption.

Ipsos conducted the survey among citizens of 29 countries between September 23 and October 7 via the Ipsos Online Panel system. The Ipsos “What Worries the World” survey tracks public opinion on the most important social and political issues in countries today.

Commenting on the results, Amit Adarkar, CEO of Ipsos India, said the impact of the pandemic as well as the global slowdown is being felt in markets like India.

“India is still reeling from the collateral impact of the protracted coronavirus and the global economic slowdown due to the war in Ukraine, which are impacting employment, leading to increased corruption, crime and social inequality.Even the impact of inflation is manifesting even though India is better placed than its global counterparts due to government measures to control fuel prices.Floods and adverse effects of the are making urban Indians worry about climate change. These issues need to be addressed by the government first,” he said.

Meanwhile, the survey also captures citizens’ levels of optimism and pessimism towards their country. India overtook Indonesia to become the second most positive market; majority of the world’s citizens have a negative view of their economy.

In fact, 76% of urban Indians think their country is moving in the right direction. Saudi Arabia maintained its pole position to remain the most positive market in the world, with 93% of its citizens believing their country is on the right track.

“India propelled Indonesia to second most positive market with the majority of urban Indians believing that India is on the right track, showing that the general mood is quite optimistic in contrast to that of citizens of the world,” Adarkar said.

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CONSUMER ALERT: Attorney General James reminds officials to seek student debt relief before deadline


New Yorkers working in government or nonprofit organizations are eligible for loan forgiveness for direct and non-direct federal loans

The deadline for eligible borrowers to consolidate their loans and apply for the PSLF program is October 31, 2022

NEW YORK – New York Attorney General Letitia James today reminded officials to apply for the Public Service Limited Exemption Loan (PSLF) waiver program by October 31st deadline. The PSLF program provides forgiveness of any federal student loan debt remaining after a borrower has made 120 qualifying payments while working full-time for a government or qualifying nonprofit organization.

“Public servants have spent their careers working for the residents of New York and helping to build a stronger, fairer state,” said Attorney General James. “The PSLF program is another tool that helps solve the student debt crisis and allows public servants to be recognized for their hard work and dedication. I encourage eligible public servants to take advantage of the program and apply for debt forgiveness before the next deadline.

The limited waiver PSLF program expands access to loan forgiveness. The program counts payments on multiple federal loans and past payments, including missed, partial or late payments, as eligible repayments toward the 120-payment threshold for forgiveness. Previously, only payments on federal direct loans counted and only people with those loans were eligible. Now, New Yorkers can consolidate their other federal loans — such as Federal Family Education Loans (FFEL) and Perkins Loans — into direct loans and have their past payments count and become eligible.

New Yorkers can determine if they work for an eligible employer online at the Federal Student Aid website. Eligible borrowers should apply online now to consolidate their loans into Federal Direct Loans and have their debt canceled before the October 31, 2022 deadline.

Who is eligible for the PSLF program with limited derogation?

To qualify for loan forgiveness under the PSLF Limited Forgiveness Program, borrowers must meet these two conditions: have direct loans, from when they originally borrowed or through consolidation, and submit a PSLF form to certify eligible employment. Specifically:

  • If borrowers have all direct loans and have submitted PSLF certification: No action is required and the Department of Education will review the submission.
  • If borrowers have both direct loans and non-direct loans (FFEL, Perkins or others) and have submitted PSLF certification: they must consolidate the non-direct loans into a direct consolidation loan to have prior repayment periods on these non-direct loans count towards the 120 payment threshold for forgiveness. Borrowers can consolidate their loans on the Federal Student Aid website.
  • If borrowers only have non-direct loans (FFEL, Perkins or others): they may be eligible for PSLF if they work for an eligible employer and consolidate the loans into a direct consolidation loan. Borrowers can use the PSLF assistance tool to determine if their employer is an eligible employer. If borrowers work for an eligible employer, they can consolidate their loans online. Once the loans are consolidated, borrowers can use the PSLF Helper Tool to create a form, which should be sent to the PSLF Loan Manager, MOHELA.
  • If borrowers have all direct loans but have not submitted PSLF certification: they may be eligible for PSLF if they work for an eligible employer. Borrowers can use the PSLF Assistance Tool, available on the Department of Education website at https://studentaid.gov/pslf/, to determine if their current employer is an eligible employer. If borrowers work for an eligible employer, they can use the PSLF support tool to generate a form, which must be submitted to MOHELA.
  • If borrowers have both direct and non-direct loans (FFEL, Perkins, or others) and have not submitted PSLF certification: they may be eligible for PSLF if they work for an eligible employer and consolidate their loans non-direct in a direct loan. Consolidation loan. Borrowers can use the PSLF assistance tool, at studentaid.gov/pslf, to determine if their employer is an eligible employer. If borrowers work for an eligible employer, they can consolidate their loans at studentaid.gov/consolidation. Once the loans have been consolidated, borrowers can use the PSLF support tool to generate a form, which must be sent to MOHELA

How do I apply for the limited-exempt PSLF and get PSLF credit?

Borrowers who think they may qualify for the Limited Waiver PSLF program should see the Federal Student Aid website explaining the program in detail.

Cincinnati Public Schools and University of Miami Expand Partnership to Address Teacher Shortage


Cincinnati Public Schools and the University of Miami (MU) announced an expansion of the pilot education program on Wednesday. The program, Transformative Educators Advocating Change (TEACh), is a partnership program designed to address the critical shortage of teachers, while increasing diversity among educators. opportunity for College Credit Plus, scholarships, and preferred hiring status at CPS. As school districts across the country struggle to retain teachers, TEACh Cincinnati is an investment in Cincinnati that creates a pipeline and support system for diverse teachers. The program provides academic, social and financial support to students interested in pursuing a teaching career as early as high school. To help develop a diverse workforce, the program also aims to recruit future teachers of color who can understand the social and cultural challenges that many students in urban neighborhoods often face. “Having worked in education for nearly 30 years, first as a teacher, I am incredibly excited for this stage of our partnership with the University of Miami,” said CPS Superintendent Iranetta Wright. “The expansion of the program allows CPS students not only to have the opportunity to immerse themselves in meaningful continuing education at the University of Miami, but also to gain the experience necessary to ensure that they are ready to successfully return to CPS as the next generation of teachers. “The program, first piloted at Aiken High School. The expansion will give more CPS students the opportunity to explore education as a career field, take College Credit Plus courses before attending the University of Miami and to obtain scholarships and field experiences through the Miami Department of Teaching, Programs and Educational Investigations.After completing the program, graduates also receive status preferred hiring plan at CPS. The expansion began this school year with the addition of the Oyler School and Withrow University High School.) said, “To address the teacher shortage, we need a systemic solution. TEACh Cincinnati recruits students early in their academic career, supports them through high school and college, prepares them to teach in an urban environment, and works to retain them through retirement.” Program expansion pilot is the result of more than 15 years of committed MU work in local Cincinnati neighborhoods and the successful pilot program at Aiken High School.As a result of the pilot program, in 2022, CPS graduated seven students who enrolled in the University of Miami to pursue an education and a career in teaching.In addition, CPS students in the TEACh Cincinnati pipeline receive dedicated Miami scholarships and grants to support students with tuition, including up to full tuition coverage The program will be rolled out to more CPS high schools over the next year, with the goal of having a program in every CPS high school in the near future.

Cincinnati Public Schools and the University of Miami (MU) announced an expansion of the pilot education program on Wednesday.

The program, Transformative Educators Advocating Change (TEACh), is a partnership program designed to address the critical shortage of teachers, while increasing diversity among educators.

The expansion will move the TEACH Cincinnati pilot project to all CPS high schools over the next 5 years, providing the opportunity for College Credit Plus, scholarships, and preferred hiring status at CPS.

As school districts across the country struggle to retain teachers, TEACh Cincinnati is an investment in Cincinnati that creates a pipeline and support system for diverse teachers.

The program provides academic, social and financial support to students interested in pursuing a teaching career as early as high school.

To help develop a diverse workforce, the program also aims to recruit future teachers of color who can understand the social and cultural challenges that many students in urban districts often face.

“Having worked in education for nearly 30 years, first as a teacher, I am incredibly excited for this step in our partnership with the University of Miami,” said CPS Superintendent Iranetta Wright. “The expansion of the program allows CPS students not only to have the opportunity to immerse themselves in meaningful continuing education at the University of Miami, but also to gain the experience necessary to ensure that they are ready to successfully return to CPS as the next generation of teachers.”

The program, first piloted at Aiken High School. Expansion will give more CPS students the opportunity to explore education as a career field, take College Credit Plus courses before attending the University of Miami, and earn scholarships and field experiences through Miami’s Department of Educational Instruction, Curriculum, and Investigation.

Upon completing the program, graduates also receive preferred employment status at CPS.

The expansion began this school year with the addition of Oyler School and Withrow University Secondary School.

“Great communities need great schools, and great schools need great teachers,” said Jason Lane, dean of the College of Education, Health, and Society (EHS) at the University of Miami. “To address the teacher shortage, we need a systemic solution. TEACh Cincinnati recruits students early in their academic journey, supports them through high school and college, prepares them to teach in an urban environment and strives to retain them until retirement.”

The expansion of the pilot program is the result of more than 15 years of committed MU work in local Cincinnati neighborhoods and the successful pilot program at Aiken High School.

As a result of the pilot program, in 2022, CPS graduated seven students who enrolled at the University of Miami to pursue teaching degrees and careers.

Additionally, CPS students in the TEACh Cincinnati pipeline receive dedicated Miami scholarships and grants to support students with tuition, including up to full tuition coverage.

The program will be rolled out to more CPS high schools over the next year, with the goal of having a program in every CPS high school in the near future.

Home Equity Loans Vs. Personal Loans: A Guide


Home Equity Loan Vs. Personal Loan: Questions to Ask to Help You Decide

What are your plans?

There are many reasons to take out a loan, but knowing why you need the money can help you decide which loan is right for you. If you plan to complete home renovations, you may be able to deduct the interest on the loan with a home equity loan.

But if you don’t own a home or want to consolidate debt, a personal loan may be better suited to your needs. The timeliness of your plans could also affect which loan is best for you, which we’ll discuss later.

What is your credit situation?

If you’re not sure what your credit report looks like, be sure to check before deciding which loan to choose. If you have good to excellent credit, you can qualify for a personal loan and take advantage of their lower fees. However, if you have a bad credit score, you may not be able to get a personal loan.

If you own a home and have some equity, a home equity loan may be the best choice for you. Keep in mind that you may not qualify for better interest rates if you apply for a home equity loan and your credit is weak.

How urgently do you need money?

If the time it takes to get a loan is a big factor, the big winner is the personal loan. The process for a home equity loan includes determining the value of your home, which adds a few extra steps that a personal loan does not require. A home equity loan requires an application, underwriting and possibly an appraisal before the loan is granted.

So if you’re not in a rush and want to do some renovations in the future, a home equity loan is always a great option. However, if you need money for an emergency, a personal loan is a better option. A personal loan can usually take a few days or a week for the borrower to receive the money, while a home equity loan can take up to a month.

The UK bond market mess won’t happen in the US



The recent turmoil in the UK government bond market, which for a while looked set to trigger a wider financial meltdown, has some people wondering: could something similar happen in the market? much larger U.S. Treasury, with more far-reaching implications?

Unlikely. But US authorities can take steps to make such an outcome even more remote.

The incident in the UK was born out of a unique combination of bad politics and leveraged funding. Former Prime Minister Liz Truss’ massive fiscal stimulus package caused UK government bond yields to rise sharply, triggering huge demands for collateral on UK pension funds that had accumulated exposures to derivatives linked to long gilts. When funds sold bonds to raise cash, it drove yields even higher, generating more collateral calls and creating a vicious circle than only the Bank of England’s emergency intervention and reversal of Truss’ policy could stop.

I see two reasons why the United States is unlikely to experience anything similar. First, the US president lacks the power of the UK prime minister to implement controversial policy, especially with the Senate evenly divided along party lines. If the Biden administration proposed what the Truss administration did, US Treasury yields would barely budge because no one would reasonably expect the plan to become law.

Second, US pension funds don’t use the leveraged strategies that have caused problems for their UK counterparts as much. They also make up a smaller part of the U.S. financial sector, thanks to the country’s long-term shift from defined-benefit pension plans to defined-contribution plans such as 401(k)s. So even if Treasury yields jumped, the ripple effects would be less.

That said, wreaking havoc on the Treasury market is not impossible. Just a few years ago, the onset of the coronavirus pandemic triggered a global “money rush” that severely destabilized the market and forced the Fed to intervene. Therefore, it is worth taking steps to make the US Treasury market more resilient.

Good ideas abound. The introduction of more centralized clearing of Treasury trades could help, allowing more investors to trade directly with each other and reducing counterparty risk and the market’s dependence on a small group of brokers. More public reporting of trade would increase transparency, reducing uncertainty and risk. But such reforms will take time, as they may require new infrastructure and involve consensus building among regulators and market players with differing goals and perspectives.

In the meantime, the Fed can take a helpful step: provide supportive funding to all Treasury holders, ensuring they can borrow money against the securities whenever needed. The central bank has already made such a permanent repo facility available to a select group of primary dealers and commercial banks. To broaden access, the Fed need only allow primary dealers to transfer Treasuries and cash to and from their customers through this facility – and, importantly, separate those transactions from dealer regulatory balance sheets, so that such (riskless) activities do not generate higher capital requirements. To protect against losses, the Fed could implement a conservative margin regime, i.e. limit the amount it will lend against a given amount of Treasury collateral, with higher haircuts for longer maturities. long, where prices are more sensitive to interest rates. changes.

With such a facility in place, anyone buying a US Treasury security would also have the right to turn it into cash, at any time, with the Fed. Such a liquidity feature would both enhance market resilience and make Treasuries more attractive, leading to lower borrowing costs for the US government. In other words, it would be a win for investors, for US taxpayers, and for the entire financial system.

More from Bloomberg Opinion:

• The next Fed crisis is brewing in Treasuries: Robert Burgess

The world’s largest market still needs some work: editorial

• The US Treasury market needs more than just clearing: Paul J. Davies

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Bill Dudley is a Bloomberg Opinion columnist and senior advisor to Bloomberg Economics. A senior researcher at Princeton University, he was president of the Federal Reserve Bank of New York and vice-chairman of the Federal Open Market Committee.

More stories like this are available at bloomberg.com/opinion

CitiMortgage Mortgage Review 2022 – Forbes Advisor


CitiMortgage offers home loans in all 50 states. As of September 2, 2022, the company’s rates are below national averages.

However, while the company provides sample purchase and refinance interest rates on its website, these are based on a $200,000 primary residence with a $150,000 mortgage. Considering that the median house in Los Angeles costs nearly $1 million, these rates may not apply to your situation. To get a more accurate rate, you will need to call the company.

Types of loan

CitiMortgage offers the following types of home loans:

In addition to fixed rate products, CitiMortgage offers adjustable rate mortgages (ARMs) with repayment terms of three to 10 years. However, although FHA and VA loans are available through CitiMortgage, you will need to consider other lenders if you are interested in a USDA loan. Also remember that applications for home equity loans and HELOCs remained suspended as of September 2022.

Additionally, new or existing CitiMortgage customers who open a deposit account before their mortgage closes can receive a $500 reduction on their closing costs with an account balance of $1 to $49,999.99. or discounts on their rate with higher balances. Note that you must maintain this balance for five to six business days (depending on account type) after approval, as well as set up automatic payments on your mortgage from your deposit account to qualify for these benefits. .

Closing cost assistance of up to $7,500 is also available for low-income borrowers who live in certain areas.

Minimum loan

CitiMortgage does not publicly disclose its minimum loan amount. If you’re looking for a small mortgage to pay for a cheaper home, you’ll need to contact CitiMortgage to see if it can meet your needs.

Maximum loan

The maximum you can borrow will depend on the type of mortgage you want as well as your financial qualifications. CitiMortgage offers jumbo loans to eligible borrowers, which typically range up to $647,200 for a single-family home in most areas and up to $970,800 in high-cost areas like New York and San Francisco.

To find out the maximum loan amount you may qualify for, you will need to contact CitiMortgage.

Global Bovine Serum Albumin Market Size is Expected to Grow USD 22 Billion by 2030



The global bovine serum albumin market size was valued at USD 5.58 billion in 2021 and the global bovine serum albumin market is expected to reach USD 22.0 billion by 2030. Companies Covered: Thermo Fisher Scientific ( USA), Bio-Rad Laboratories, Inc (USA), Merck KGAA (Germany), Itoham Yonekyu Holdings Inc (Japan), Proliant Biologicals (USA), Kraeber & Co Gmbh (Germany), Rockland Immunochemicals Inc (USA), Rocky Mountain Biologicals (USA), BelHealth Investment Partners, LLC (USA), Bio-Techne Corporation (USA), Prospec-Tany Technogene Ltd (Israel), LGC Group (UK) Uni), Promega Corporation (USA), Biological Industries (Israel), Serion GmbH (Germany) and other important key players.

New York, USA, Oct. 24, 2022 (GLOBE NEWSWIRE) — According to a research report published by Spherical Insights & Consulting, the Global bovine serum albumin market size to grow from USD 5.58 billion in 2021 to USD 22.0 billion by 2030, at a compound annual growth rate (CAGR) of 16.5% over the forecast period. The bovine serum albumin market has grown due to the introduction of new products in the field of bovine serum albumin. Additionally, the increase in serum in a dietary whey protein enhances the market growth. Asia-Pacific is expected to experience the fastest growth over the forecast period

Get a sample PDF brochure: https://www.sphericalinsights.com/request-sample/1239

See a detailed table of contents here–

The COVID-19 pandemic has had a negative impact on credit portfolios. There has been an unprecedented rise in unemployment and disruptions to economic activity, putting a strain on the creditworthiness of customers and businesses. Central banks have taken a proactive approach by injecting liquidity into the market through lower interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk in financial markets was difficult enough with ongoing geopolitical tensions, international trade wars, and occasional hurricanes and earthquakes. The current pandemic situation has forced risk managers and their teams to recalibrate old assumptions and models used to manage and monitor risk. The global impact of COVID-19 has shown that interdependence plays an important role in international cooperation. As a result, many governments have started to rush to identify, evaluate, and acquire reliable AI-powered solutions.

Human serum albumin segment represents the largest market size during the forecast period

On the basis of product, the global bovine serum albumin market is categorized into human serum albumin, bovine albumin, and recombinant serum albumin. The human serum albumin segment accounts for the largest market size during the forecast period. The use of human serum albumin (HSA) as a main protein in the development and improvement of molecular imaging has many advantages. Moreover, the release of brand new products suitable for the market will help the market to grow. In November 2021, for example, Grifols introduced its latest albumin portfolio innovation. The product was sold under the brand name ALBUTEIN FlexBag (Albumin (Human) USP), and it came in 5% and 25% strengths.

Browse key industry information spread across 240pages with 183 market data tables and The figures & graphics of the report”Global bovine serum albumin market sizeCOVID-19 sharing and impact analysis, by product (human serum albumin, bovine albumin and recombinant serum albumin), by application (therapeutic, drug delivery, culture media, vaccine ingredient and others) and by region (South America North, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.” in detail with the table of contents

Buy Now Full Report: https://www.sphericalinsights.com/checkout/1239

Drug Distribution Segment to Hold a Higher CAGR During the Forecast Period

Based on applications, the bovine serum albumin market is categorized into therapeutics, drug delivery, culture media, vaccine ingredient and others. The drug delivery segment accounts for the largest market size during the forecast period. Bovine serum albumin, also known as BSA, has been used to generate nanoparticles for use in a drug delivery system. A laser light scan was used to measure the size of the fabricated nanoparticles.

North America is estimated to account for the highest market share in 2021.

The global bovine serum albumin market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. North America is expected to be the biggest market. Due to the high demand for albumin in research and development activities, increasing production of immunoglobulins, growing non-therapeutic applications of albumin, and increasing plasma collection in the North American region , the North American region is expected to dominate the market. It is expected that the United States would have the majority share of the market growth. Indeed, the United States is home to a very large number of companies involved in the biopharmaceutical industry. For example, in June 2020, clinicaltrials.gov reports that there are approximately 107 ongoing clinical studies related to albumin in the United States. These trials are in various stages of development and are being conducted for various reasons. Asia-Pacific to maintain a higher CAGR during the forecast period.

Find out before you buy this research report: https://www.sphericalinsights.com/inquiry-before-buying/1239

Key companies and recent developments: The report also provides elaborate analysis focusing on current business news and developments, including product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This helps to assess the overall competition in the market. The major vendors in the global bovine serum albumin market are Thermo Fisher Scientific (USA), Bio-Rad Laboratories, Inc (USA), Merck KGAA (Germany), Itoham Yonekyu Holdings Inc (Japan), Proliant Biologicals (USA), Kraeber & Co Gmbh (Germany), Rockland Immunochemicals Inc (USA), Rocky Mountain Biologicals (USA), BelHealth Investment Partners, LLC (USA), Bio-Techne Corporation ( USA), Prospec-Tany Technogene Ltd (Israel), LGC Group (UK), Promega Corporation (USA), Biological Industries (Israel), Serion GmbH (Germany).

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Mahoning County Courts | Marriage Licenses, New Cases | News, Sports, Jobs


Marriage Licenses

Marriage Licenses Granted in Mahoning County October 10-21:

Joshua Ryan Myers, 28, Ravenna, and Abigayle Lynne George, 26, Youngstown

Cody Robert Kmiec, 30, Boardman, and Ashley Lynn Turner, 27, Boardman

Kevin Allen Jaskowick, 62, Warren, and Shannon Marie Morris, 58, Canfield

Chanelle Avanna Glaspell, 27, Lowellville, and Samuel J Lambert, 38, Sharon, Pennsylvania.

Michael Francis Roberts Jr., 31, Austintown, and Rachel Anne Beshero, 28, Austintown

Logan Nicole Sullivan, 26, Canfield, and Jacob Nicholas Smith, 28, Canfield

Kaitlyn Joy Sefcik, 32, Bessemer, Pennsylvania, and Clark Edward Searfoss III, 33, Bessemer, Pennsylvania.

Rebecca Marie Farley, 26, Austintown, Jonathan James Stone, 34, Austintown

Crystal Julianne Tubbs, 48, Youngstown, and Shahid Sulayman Fareed, 52, Youngstown

Claudina Sofia Morales Monroy, 26, Warren, and Daniel James Fumerola, 26, Youngstown

Earvin Wesley Clark, 40, Youngstown, and Courtney Monique McKinney, 37, Youngstown

Kelly Lynette Freeland, 48, board member, and Louis Lamar Wainwright, 65, board member

Michael Aubrey Lantz, 32, Lake Milton, and Heather Aminda Smith, 24, Lake Milton

Preston Alexander Sirochman, 29, Youngstown, and Aleah Marie D’Amico, 28, Youngstown

Drelon Jarell Simmons, 30, Beaver, Pennsylvania, and Claryssa Lynn Burroughs, 34, Beaver, Pennsylvania.

Lindsey Lee Popovich, 31, Boardman, and Vince Robert Travaline, 32, Boardman

Lisa Marie Mosconi, 32, board member, and Michael James Landgraff Jr., 30, board member

Herman Carl Frank III, 33, Washingtonville, and Sara Beth Phlieger, 33, Washingtonville

Mason Parker Shaulis, 25, Austintown, and Stephanie Anne Waltman, 25, Austintown

José Anibal Carrion, 54, Beloit, and Lisa Kay Carrion, 53, Alliance

Alexander James Franklin, 29, Youngstown, and Nicole Marie Smith, 39, Youngstown

Nicholas David Patoray, 24, board member, and Samantha Lynn Hankey, 22, Campbell

Jason Michael Newman, 36, Youngstown, and Kira Elizabeth Gilson, 37, Youngstown

Alexandra Katherine Keck, 30, Central Berlin, and Kyle Leslie Collins, 34, Central Berlin

Ryan James Forbes, 33, New Castle, Pennsylvania, and Blaire Noelle Pezzuolo, 33, Edinburgh, Pennsylvania.

Jacob Gerald Ohlin, 27, Cambridge, Mass., and Audrey Julia Schoenike, 26, Cambridge, Mass.

Nicholas Karl Hepler Venturini, 25, Aliquippa, Pennsylvania, and Lauren Reina Martin, 25, Aliquippa, Pennsylvania.

David Brian Heitzenrater, 53, Sebring, and Angela Marcell Weir, 47, Sebring

Adam Edward Fanzo, 26, Struthers, and Holly Lynn Massie, 24, Struthers

Kristen Marie Hoffman, 25, Joffre, Pennsylvania, and Kevin Michael Gobleck, 27, Joffre, Pennsylvania.

Lisa Marie Colla, 49, Austintown, and Christopher Michael Ford, 46, Austintown

Cassidy Grace Aeppli, 28, Struthers, and Levi Asher Dew, 25, Struthers

Ethan Thomas Puz, 23, Austintown, and Kayla Marie Herman, 21, Austintown

Rachel Marie Wagner, 54, board member, and Darrell Enrico Maurice Peterman, 60, board member

Catherine Anne Schuler, 25, North Lima, and George Peabody Dunlap V, 25, Board Member

Carson Prince Kesner, 26, Canfield, and Kara Elisabeth Rothbauer, 25, Canfield

Pamela Jo Yost, 65, Youngstown, and John Robert Sobinovsky, 62, Youngstown

Marcia Lynn Bolton, 25, Salem, and Nicholas Hawkins Syrianoudis, 30, Salem

Dakota Andrew Chance Tylor States, 29, Struthers, and Tra’Von Raymont Speller, 31, Struthers

Belinda Lee Smeltzer, 40, Youngstown, and Dennis Robert Shaffer, 81, Youngstown

Corey Edward Vallas, 27, Youngstown, and Nicole Renee Cene, 25, Youngstown

Shane Henry Kunovich, 23, Austintown, and Makaela Lynn Giannini, 22, Austintown

Bailey Danielle Arnoto, 23, Austintown, and Robert Daniel Stephenson, 22, Austintown

Alex Michael Mackie, 30, Board Member, and Samantha Louise Womer, 25, Board Member

Richard Bruce Severs, 45, Coumbiana, and Hope Marie Haddox, 44, Columbiana

Carmen Thomas Sinkovich, 26, Struthers, and Katelyn Tressa Agnone, 26, Struthers

Jeremy Wayne French, 36, Youngstown, and Kaylee Michelle Dickey, 29, Youngstown

New cases

New cases filed in Mahoning County from October 3-14:

BANKUNITED NA v CHRISTOPHER A. HARTMAN et al., Complaint for Foreclosure and Monetary Judgment Relief

CALIBER HOME LOANS INC. vs. ROBERT R. BROPHY et al., foreclosure complaint

CARL W. BRUNE JR. vs. GROUND TECH INC. ET BWC, notice of appeal





MAHONING COUNTY TREASURER DANIEL R. YEMMA v v MARIELLA SMITH et al Complaint for Collection of Overdue Taxes

DENISE LOWRY vs. ALEXANDRA N. YUHASZ et al., bodily injury








JOE FRAZIER c. ANNA MCCRACKEN et al., bodily injury

JOHN M. CASEY v. JAMAEL TITO BROWN et al., notice of appeal



LAURA A. MALONE vs. EDWARD W. ANKROM et al., bodily injury


LINDA JOYCE SHAW vs. TOM J. BAITANIS et al., bodily injury






ST. CHARLES BORROMEO CHURCH c. JS PALUCH COMPANY INC., breach of contract and unjust enrichment



WILMINGTON SAVINGS FUND SOCIETY FSB DBA CHRISTIANA TRUST, TRUSTEE vs. KATHLEEN M. DUBOS et al., complaint on note and for mortgage foreclosure

AMY CARLSON AND SHAWN CARLSON v APPLEWOOD SWIM AND TENNIS CLUB et al., claim for money and equitable relief






MARK GREEN v JUSTIN GRAHAM, DBA GRAHAM LAWN CARE LLC et al., claim for money and damages


NOAH MASSIE v. YIANNI KOULIAS et al., bodily injury

PNC BANK NA v MARY JO CALHOUN et al., foreclosure complaint



TOWD POINT MORTGAGE TRUST 2017-2, US BANK NA, INDENTURE TRUSTEE against TINA M. WHITE et al., foreclosure complaint

Today’s breaking news and more to your inbox

In a pinch? Here are the four loans you can get the fastest


Image source: Getty Images

Here are some quick ways to get cash ASAP.

Key points

  • You can use your credit card to pay, as well as to get a cash advance.
  • Payday loans are a quick way to get cash, but have APRs of up to 400%.
  • If you have valuables, you can get cash through a pawnbroker, or you can use your car as collateral for a title loan.

When you’re in a bind and need cash fast, it’s important to know what your options are. There are different types of loans that you can get relatively quickly, depending on your needs. Before taking out a personal loan, it’s important to understand the different types of personal loans and find the one that’s right for you. Here are four of the most common.

1. Credit cards

If you have good credit, you may be able to get a cash advance on your credit card. This is usually a quick and easy process, but it will come with high interest rates. So if you are able to repay the loan quickly, this could be a good option. Cash advances can be very useful in an emergency situation when you need money immediately.

Another benefit of using a credit card for a cash advance is that you may already have money available on your line of credit that you can use. This can be useful if you don’t want to take out a new loan or use other assets as collateral. However, using a credit card for a cash advance also has some drawbacks. First, as mentioned earlier, interest rates on cash advances are usually very high. This means that if you don’t repay the loan quickly, you could end up paying a lot of interest. Also, most credit cards have limits on how much you can borrow as a loan. So if you need a large sum of money, this might not be the best option.

2. Payday Loans

Payday loans are one of the fastest ways to get cash, but they come with high interest rates and fees. They’re usually only for small amounts of money, so if you need a lot of cash quickly, they’re probably not the best option. However, if you just need a little extra money to last you until your next paycheck, a payday loan might work. Payday loans are not ideal, Nevertheless. These are short-term, high-interest loans, usually due by your next payday in a single amount. Currently, 37 states regulate payday loans due to their high costs.

Payday loans are usually for $500 or less and are due on your next payday. Depending on state laws, people can get payday loans online or through a storefront lender. A typical two-week payday loan can have annual percentage rates (APR) as high as 400%. By comparison, credit card APRs can range from 12% to 30%. Payday loans should be considered an option of last resort.

3. Pawnbroker

Pawnbrokers are short-term loans secured by an object of value that people bring to a pawnbroker. As they are backed by the value of the object, they are cheaper than payday loans but are more expensive than a conventional loan. Pawnbrokers are regulated by the government. This type of loan is ideal for people who need cash quickly without a credit check.

Loan terms vary by pawnbroker. People can use valuables, such as jewelry or electronics, to get a loan based on the value of the item. No credit check is required. Those who may not qualify for a traditional loan can consider a pawnbroker. Once the loan amount is paid off, you will receive your items. If you don’t pay it back, the pawnbroker can seize the secured items.

4. Securities Lending

Title loans are another quick way to get cash. They are short lived secured personal loans supported by your car. Financial institutions put a lien on your car. If you are unable to repay the loan, they can seize your car, as it is used as collateral. Title loans generally do not consider your credit and can be approved quickly. However, a title loan is very expensive, with an APR of around 300%.

These are four of the most common types of loans that you can get relatively quickly. Consider which one best suits your needs and compare interest rates and fees before you apply. Understand how these personal loans work can help you make a smarter decision.

The Ascent’s Best Personal Loans for 2022

Our team of independent experts have pored over the fine print to find the select personal loans that offer competitive rates and low fees. Start by reviewing The Ascent’s best personal loans for 2022.

Illinois Relaunches HAF Program, Reverse Mortgage Borrowers Are Eligible


Illinois Governor JB Pritzker (D) announced on Wednesday that the Illinois Housing Development Authority (IHDA) will restart the state’s Homeowners Assistance Fund (HAF) program designed to provide financial assistance to owners who have experienced difficulties resulting from the COVID-19 coronavirus pandemic.

The program — which is available to reverse mortgage borrowers in the state — provides up to $30,000 in mortgage assistance to eligible homeowners. The funds are paid directly to the administrator, the tax office or “another approved entity”, while the owners work to stabilize their financial situation.

Illinois Governor JB Pritzker (D)

“Whether homeowners have a mortgage, reverse mortgage, or no mortgage, the program can fund past-due housing payments and up to three months of potential mortgage payments,” the announcement reads.

Homeowners who have received a previous round of assistance are eligible for additional funds in this case, but their total financial relief cannot exceed $30,000, according to the announcement.

“No Illinoisan should have to choose between paying their mortgage and putting food on the table,” Governor Pritzker said in a statement. “That’s why we created the Illinois Homeowners Assistance Fund to provide much-needed relief to our residents who have struggled throughout the pandemic. Today, I am proud to announce that we are reopening this program so that no family in Illinois will be left without a roof over their head. I encourage all eligible households to apply for ILHAF funding starting November 1, and thank the entire team at the Illinois Housing Development Authority for its leadership.

The Homeowners Assistance Fund was made possible by the passage of the American Rescue Plan Act in March 2021, the first major economic stimulus legislation signed into law by President Joe Biden. While reverse mortgage servicing professionals have praised the availability of funds, the nature of their disbursement to individual states to then provide relief to their residents has been slow.

According to local Michigan state press, for example, the program’s availability has just rolled out to homeowners in Mecosta, Osceola, and Lake counties. However, there are other indications that state programs are not uniformly supporting reverse mortgage borrowers according to a counseling professional who spoke with RMD.

Some other states have closed their online application portals for HAF relief because they expect the allotted money to have already run out, according to National Consumer Law Center attorney Sarah Bolling Mancini in a recent presentation on reverse mortgage advice. Barriers also exist among states that still offer HAF relief applications, as many do not sufficiently publicize the qualification of reverse mortgage borrowers, and the fully online process of an HAF application can also be a barrier for borrowers. reverse mortgages at least 62 years old. when their loan was issued, she said.

“HAF is not going to entirely solve this problem,” Mancini explained. “But most of all we want our housing counselor community to talk to the people of HAF. And if you are dealing with a reverse mortgage borrower who is at risk of foreclosure, you should consider HAF. This is one of the most important things I wanted to convey is that this is an important solution.

Visit the ILHAF website.

Javelin Strategy & Research Appoints Brian Riley and James Wester as Heads of Payments


Strategy and javelin research

“Throughout the integration, our payments industry analysts have been exclusively focused on providing customers with an unparalleled level of service while delivering on our vision to build a payments consulting and leadership powerhouse. enlightened.”

Javelin Strategy & Research is pleased to announce that it has appointed Brian Riley and James Wester as co-Heads of Payments, following the successful integration of Mercator Advisory Group and Javelin.

In March 2022, Escalent, Javelin’s parent company, acquired Mercator, a trusted research and advisory firm that serves the global payments industry, to augment Javelin’s payments practices and create a thought leadership powerhouse. Over the past seven months, the companies have worked hand-in-hand to create fully integrated, industry-leading payment advisory services to meet customers’ ever-growing payment needs. The Integrated Payments offering incorporates and maintains all Mercator and Javelin Payments practices.

Brian Riley was Director of Mercator’s Credit Counseling Department for six years. He will take on an expanded role and oversee the team leading the debit, prepaid and commercial practices. Riley has spent a quarter of a century with leading national credit card issuers at Chase, Citi, HFC and Wachovia (First Union National Bank) in general management roles in credit policy, operations and system design, with an emphasis on the application of scoring and technology solutions to acquisition, credit, collection and fraud.

James Wester is currently Director of Javelin’s Cryptocurrency Practice. He will now also oversee the team that leads the Merchant, Technology & Infrastructure (formerly Javelin Payments) and Emerging Payments practices. Wester has over two decades of research, marketing and communications experience in payments and technology, including supporting PayPal’s blockchain, crypto and digital currencies business unit, as well as global payment practices. blockchain and payment strategies from IDC Financial Insights. Wester has been widely quoted in the media, including The New York Times, Marketplace (NPR), The Wall Street Journal, CNBC, and Good Morning America.

“Throughout the integration, our payments industry analysts have been exclusively focused on providing their customers with an unparalleled level of service while delivering on our vision to create a payments consulting and leadership powerhouse. informed,” said Jacob Jegher, president of Javelin Strategy & Research. “Brian and James are incredibly talented. Appointing them co-heads of payments is the start of great things to come as we grow and invest in advising our clients on navigating the payments and financial services ecosystem.

The payments team has also hired Christopher Miller as a principal analyst for the Emerging Payments practice. Miller has spent the past 10+ years exploring the impact of emerging technologies on financial services, most recently with Northwestern Mutual where he was director of strategic partnerships on the corporate strategy team and led efforts to improve the payment experiences of NM customers and develop banking partnerships. Daniel Keyes has been promoted to senior analyst and will lead the merchant practice covering the technologies behind merchant payment acceptance. Keyes and Miller will report to Wester.

Meet Jegher, Wester, Keyes and several other Javelin and Mercator analysts at Money 20/20 in Las Vegas, starting October 23.

About Javelin Strategy and Research

Javelin Strategy & Research, part of the Escalent family, helps clients make informed decisions in a digital financial world. It provides strategic insights to financial institutions, including banks, credit unions, brokerages, and insurers, as well as payments companies, technology providers, fintechs, and government agencies. Javelin’s independent information is the result of a rigorous research process that assesses consumers, businesses, vendors, and the transaction ecosystem. She conducts in-depth primary research studies to identify dynamic risks and opportunities in digital banking, payments, fraud and security, lending and wealth management. For more information, visit javelinstrategy.com. follow us on Twitter and LinkedIn.

About the Mercator Advisory Group

Mercator Advisory Group is the leading independent research and advisory services firm focused exclusively on the payments and banking industries. He provides pragmatic and timely research and advice to help clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Its customers range from the world’s largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online banking and payments news and information portal PaymentsJournal.com.

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MA woman unleashes swarm of bees on police for ‘wrongful eviction’


A Massachusetts woman is facing multiple assault and battery charges for unleashing a swarm of bees on law enforcement officials trying to serve an eviction.

Rorie Woods, 55, pleaded not guilty to her arraignment on October 12 in Springfield District Court and was released without bond, according to Masslive.com. Authorities say Woods released hundreds of bees while sheriff’s deputies signed an eviction notice. Woods now faces seven felonies and one misdemeanor, according to Hampden County Sheriff’s Department.

When Hampden County deputies arrived at the home to serve the court-ordered eviction on October 12, they were met by protesters from a local organization supporting black landlords, and soon after Woods walked away. is present.

Woods, who does not live in the Longmeadow home, arrived in a beekeeper’s garb with a trailer full of hives, “quickly jumped up” and then began “shaking” the hives, deputies said.

“Never in all my years as head of the Hampden County Sheriff’s Civil Procedures Division have I seen anything like this,” said Robert Hoffman, deputy chief of the Civil Procedures Office. “I hope these out-of-county protesters will reconsider using such extreme measures in the future, as they will be charged and prosecuted.”

Housing market for the first time?From contingency to foreclosure to housing market forecast, what you need to know.

When Woods was handcuffed and told several agents were allergic, she said, “Oh, are you allergic? Good,” according to the report. Several employees of the sheriff’s department, including three allergic to bees, were stung, according to the report. Woods, who lives about 25 miles from Longmeadow’s home in Hadley, Mass., was handcuffed.

“I’m just thankful no one died,” Hoffman said.

Woods’ attorney did not immediately respond to USA TODAY on Thursday.

“We sent a staff member to the hospital and luckily he was fine,” the Hampden County Sheriff said. Nick Cochi said.

Woods endangered deputies and neighborhood residents, Cocchi added, and could have faced more serious charges had something worse happened.

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Why were the protesters at home?

In August, the New England Regional Conference of the National Association for the Advancement of Colored People filed an amicus brief with the Massachusetts Supreme Judicial Court in support of Longmeadow owner Alton King. NEAC said black homeowners have been unfairly targeted in “an unprecedented period” of illegal foreclosures.

“The Alton King case is unfortunately just one of thousands of Massachusetts homeowners targeted by discriminatory and illegal lending practices; it has disproportionately harmed black and other borrowers of color,” said Juan Cofield, president of NEAC.

Juan Cofield, center, president of the NAACP's New England Area Conference, speaks at a 2016 UNH panel. Cofield is due in Dover next week to hold a conference of press on the Dover School District's decision to keep the teacher involved.  Last year. [John Huff/Fosters.com, file]

NEAC and the Massachusetts Alliance Against Predatory Lending – a coalition of local and statewide organizations that provide legal services to “reverse the foreclosure crisis” – say King was wrongfully evicted from his home and that he provided evidence of a stay of bankruptcy in court one day after the eviction notice was served. The groups have been involved throughout King’s legal process.

In 2018, Masslive.com reported that MAAPL appealed a Supreme Court ruling on behalf of Woods and 20 others who faced deportation.

Officials said the $1.5 million, 22-bedroom home is currently owned by Bank Of New York Mellon and has been stuck “in the legal process” for two years.

Camille Fine is a Trending Visual Producer on USA TODAY’s NOW team.

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Stalin urges PM to announce special ECLGS program for MSMEs in garment sector


Chennai, October 20 (UNI) Highlighting the severe crisis facing the garment

export sector due to multiple factors, Tamil Nadu Chief Minister MKStalin

urged Prime Minister Narendra Modi to announce a special emergency

Line of Credit Guarantee Scheme (ECLGS) for MSMEs in Garment

sector immediately and provide 20% additional unsecured credit as part of

the new regime.

In a semi-official letter to the Prime Minister, copies of which have been

communicated to the media here today, he said that the garment export business

is going through a serious crisis due to multiple factors, including

the economic impact of Covid-19, the Russian-Ukrainian war and the

anticipated economic slowdown in the West.

“I understand that the month-on-month growth rate of ready-to-wear

garment exports are now in steep decline,” he said.

Pointing out that Tiruppur was one of India’s largest knitwear exporters

clusters that serve the US, UK and European markets, the Chief Minister

stated that MSMEs make up 95% of the exporting units in this cluster.

It is reported that orders for the summer season have now decreased

around 40% compared to last year. Exporting units and their

supplier MSMEs face a serious financial crisis in the coming years.

months due to low demand, he said.

“Thousands of jobs, especially for rural women who constitute an important

part of the workforce are in danger,” Stalin said, adding, considering

the above circumstances, MSMEs should be granted special credit

facilities to survive this crisis.

“I ask you to announce a special emergency line of credit guarantee

Scheme (ECLGS) for MSMEs in the garment sector immediately.

Twenty percent (20%) additional unsecured credit may be provided

under the new regime,” Stalin said and urged the prime minister to

favorably consider this request.

UNI GV 1120

Johor cops nab five for long activities, threatening borrowers


JOHOR BARU: Police arrested five men for their alleged involvement in illegal money-lending activities and for threatening borrowers who failed to repay their loans.

Johor Police Chief Comm Datuk Kamarul Zaman Mamat said the five suspects, aged between 23 and 41, were arrested on Tuesday October 18 in Iskandar Puteri area.

READ ALSO : Nightmare for shop owner as loan sharks target outlet for ex-employee debts

“They were arrested in several raids between approximately 9:30 a.m. and 3 p.m. by our men from the Criminal Investigation Department,” he said in a statement on Wednesday (October 19).

Comm Kamarul Zaman said initial investigations revealed that the illegal or long-running pawnshops have been operating for three years.

He said that with the arrest, police had solved cases related to loan sharking activities, including splashing red paint on borrowers’ premises and criminal intimidation.

“There were 18 cases in Iskandar Malaysia and Kluang areas, and one in Bercham, Ipoh,” he said.

He added that the police also seized 12 mobile phones, 12 SIM cards, six bank cards, a check and 46 bank transaction receipts.

READ ALSO : Technician fears for family’s safety after car burns on porch

Comm Kamarul Zaman said police also seized four cars, a computer and a logbook containing borrowers’ contact details.

“The modus operandi of this unlicensed money lending syndicate is to advertise its services on Facebook for loans ranging from RM500 to RM30,000,” he said.

He also said the interest charged was 5% to 20% with weekly payments and that borrowers who failed to make the installments would be harassed, along with their family members, while the interest rate was increased. .

He said the suspects will be brought to court for a remand order under Article 117 of the Code of Criminal Procedure to help with the investigation.

READ ALSO : Usurious advertisements multiply in Klang

The matter is being investigated under Section 5(2) of the Pawnbrokers Act 1951, which is punishable by a fine of between RM250,000 and RM1 million, or imprisonment for up to five years, or both, if convicted.

“Criminal intimidation is being investigated under Section 506 of the Penal Code and if convicted, suspects could face up to seven years in prison or a fine, or both” , Comm Kamarul Zaman added.

He said Johor Police will not compromise with ah long who disturbed public order and will use all relevant laws to take action against them.

He also advised the public to refrain from borrowing money for a long time due to the high interest rate and the possibility of threats and harm in case of default.

SILT Real Estate and Investments Aims to Help More Homeowners in Chicago, Illinois Facing Foreclosure


SILT Real Estate and Investments promises to help more Chicago homeowners get a fair cash offer for their foreclosed properties

As Illinois leads the nation in foreclosures in 2022, we aim to provide the most appropriate solutions and options to help thousands of homeowners out of this real estate crisis.

—Brian Wittman

LA GRANGE, ILLINOIS, USA, October 18, 2022 /EINPresswire.com/ — SILT Real Estate and Investmentsone of the main home buyers in Chicago, Illinoisannounces its goal to help more homeowners struggling with foreclosure.

As Illinois saw more than 14,000 foreclosures in the first half of 2022, the team behind SILT Real Estate and Investments is on a mission to extend help to as many homeowners as possible.

For Illinois homeowners facing foreclosure, SILT Real Estate and Investments wanted to provide them with options and solutions whether or not they want to keep their property.

“We want to help homeowners facing foreclosure of their work from home with their options. We want them to know they can get rid of foreclosure with a little work, and that there are good ways to keep their home,” said Brian Wittman, public relations spokesperson for SILT Real Estate. and Investments.

To guard their home, Wittman listed six ways to guard it.

First, the owners have to find the money. They can get money in investments or sell things.

Second, they can take out personal loans from someone they know or take out a loan against their 401k or private loan companies.

The other four options include talking to a lender, modifying the loan, forbearing, and turning the house into a rental property.

On the other hand, if homeowners choose to sell their home, SILT Real Estate and Investments can help them through the home buying process.

“If they decide they don’t like those options or don’t want to keep their home, we’re here to give them the options to help them get out of foreclosure, whatever their home is,” Wittman assured homeowners. .

“There are actually seven options if they don’t want to keep their house. These include registration with an agent, in which they must rehabilitate and improve their property, list outright and sell as is, cash offer from an investor, creative financing to an investor, deed place of foreclosure, short sale and bankruptcy,” he further added.

SILT Real Estate and Investments, LLC provides solutions to issues or problems that sellers think they might have that would not allow them to sell properties quickly.

The company aims to provide the best end-to-end selling solution to anyone who needs to sell their home.

Homeowners interested in selling their homes to SILT Real Estate and Investments, LLC can contact them directly at (708) 415-3801 or visit their website and read their Opinion SILT Real Estate and Investments.


Brian Wittman
SILT Real Estate and Investments, LLC
106 Calendar Avenue West #91
LaGrange, Illinois 60525
(708) 415-3801


Brian Wittman
SILT Real Estate and Investments, LLC
+1 708-415-3801
[email protected]
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Mango Markets exploiter says the shares are ‘legal’, but was it?


The exploiter of $117million Mango Markets has defended their actions were ‘legal’, but a lawyer suggests they could still face consequences.

Avraham Eisenberg, a self-proclaimed digital art dealer, posed as the exploiter in a series of tweets on Oct. 15, saying he and a team had embarked on a “highly profitable business strategy” and that it was ” market-opening legal actions, using the protocol as designed.”

The Oct. 11 exploit allowed Eisenberg and his team to manipulate the value of their posted collateral – the platforms’ native MNGO token – into higher prices and then take out large loans against their inflated collateral that has emptied Mango’s treasury.

Michael Bacina, a partner at Australian law firm PiperAlderman, told Cointelegraph “if this had happened in a regulated financial market, it would likely be considered market manipulation.”

“Price manipulation is a cousin of misrepresentation, and in many jurisdictions engaging in misleading and misleading conduct is illegal and grounds for legal claim.”

Eisenberg has pledged to “make all users whole” and negotiations between him and Mango’s Decentralized Autonomous Organization (DAO) culminated in the DAO’s vote that Eisenberg will be allowed to keep $47 million as ” bug bounty’, while the rest will be sent back to the treasury.

A stipulation as part of the proposal states that MNGO token holders “will not pursue any criminal investigation or freeze funds” as Eisenburg returned the agreed portion of the mined cryptocurrency.

However, Bacina said it was “unlikely” that Eisenburg would be released from liability, even those who voted for the proposal, given that the wording of the proposal is “weak”, commenting:

“The wording of the proposal is weak and the circumstances are such that the offer of a release is questionable.”

That being said, Bacina said there may be a “limited business incentive” to sue Eisenburg, as any legal claim would be reduced by the amount a member would have received as a result of the proposal.

“Assuming the claims survive the proposal, any claim should still be reduced by any amount received by a member as a result of the proposal, which may mean that many members have limited business incentive to sue Mr. Eisenberg” , he explained.

Related Wintermute repays $92M TrueFi loan on time despite $160M hack

A portion of the $67 million in crypto returned to the platform will now be used to reimburse affected users as part of the refund to plan DAO approved.

Eisenberg argues that the mined crypto he returned is similar to automatic deleveraging on cryptocurrency exchanges where a portion of profitable traders’ profits are clawed back to cover the exchange’s losses.

Cointelegraph contacted Eisenberg for comment but did not immediately receive a response.

Pound rebounds and government borrowing costs fall as Jeremy Hunt’s budget statement looms | Economic news


The pound and UK government bond yields rallied ahead of a key statement from the new chancellor tasked with sorting out the fallout from the government’s disastrous mini-budget.

The pound fell to a record low against the dollar in late September after then-Chancellor Kwasi Kwarteng unveiled the biggest tax cut package in 50 years.

Mr Kwarteng, who was sacked on Friday after just 38 days on the job, paid the price for a giveaway that challenged the government’s economic credibility in financial markets.

The mini-budget not only led to a collapse in the value of the pound, but also caused borrowing costs to soar – forcing a unprecedented intervention by the Bank of England (BoE).

However, following the Prime Minister’s announcement on Friday that Mr Kwarteng had been sacked and that corporate tax would rise to 25% from April next year, instead of being held at 19%, there was a partial recovery in UK currency and bond yields.

Mr. Kwarteng’s replacement, former foreign and health secretary Jeremy Hunt, has since promised to regain the confidence of financial markets by taking full account of the government’s tax and spending plans.

The pound gained 1.1% to hit $1.1294 at one point on Monday and also made progress against the euro when the Treasury revealed that Mr Hunt would deliver key elements of a medium-term plan later Monday in support of “fiscal sustainability”.

The statement – released before the UK financial markets opened – added that Mr Hunt met BoE Governor Andrew Bailey and the head of the debt management office on Sunday evening to brief them on the plans.

There would be a few announcements selected from the medium-term budget plan which is due to be revealed on October 31.

Bond markets also suggested an easing of recent pressure, given the additional concerns that arose in some quarters after the The BoE concluded its emergency support for the gilt market on Friday. Friday.

The Bank released its own statement ahead of the opening to say its operations, aimed at helping pension funds cope with higher collateral demands, had led to a “significant increase in sector resilience”.

He recalled that other liquidity options remain available, if necessary, to ensure smooth funding.

Any increase in government borrowing costs, through a rise in government bond yields, would have reflected additional concern.

“Unruly students always plot to oust the beleaguered head”

But there was downward movement, with UK 20- and 30-year yields falling more than 30 basis points in early trading.

Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, said other risk factors remained in play despite the initial rally.

‘New Chancellor Jeremy Hunt looks like a troubleshooter tutored to fix a failing school and faces his first big presentation test today with an emergency budget plan launched in an attempt to calm markets financial.

“It’s all part of his charm offensive to inspire confidence in the government’s ability to be fiscally responsible, but behind him, unruly students are still plotting to oust the embattled leader,” she wrote.

Can Truss stay PM?

It reflects a renewed focus on whether Ms Truss, the architect of the government’s initial economic strategy, can stay in office.

A Tory MP told Sky News: “The idea that the Prime Minister can just scapegoat his Chancellor and move on is a delusion.

“It’s her vision. She approved every detail and she stood up for it.”

The Conservative Party is now on its fifth Chancellor in the past three years – Mr Hunt, Mr Kwarteng, Nadhim Zahawi, Rishi Sunak and Sajid Javid.


Paul Kelso - Health Correspondent

Paul Kelso

Trade correspondent


When the markets closed on Friday, after a dramatic day that saw a chancellor sacked and totemic economic policy trashed, the verdict was troubling:

A sell-off in British gilts had accelerated before, during and after the Prime Minister’s press conference, and the closing bell couldn’t ring soon enough.

After Jeremy Hunt spent the weekend signaling a dramatic change in course to reassure investors on whom confidence in the UK economy relies, the Treasury was clearly not going to take any risks on Monday morning.

This explains the pre-dawn announcement that the new chancellor would propose some reversals on Kwasi Kwarteng’s calamitous mini-budget.

The objective was to ensure a respite, a reprieve from the execution of the markets which could have, if they had continued to feel the vulnerability, aggravated the crisis and put an end to the budgetary repositioning before it began.

The need was all the more acute as it was the first Monday in a fortnight that the Bank of England did not act as a safety net in gilt markets, with its emergency intervention having been withdrawn on Friday, partly triggering the political meltdown that ended the week. .

The answer was precisely what the Treasury and Downing Street wanted to see; the first move in UK gilt yields, a measure of the effective cost of government borrowing, was down.

Yields on 10, 20 and 30-year bonds all fell as trading began in London at 8 a.m., a trend that, if it lasts by October 31, when the Office for Budget Responsibility delivers his calculation of the state of public finances, has immense political and practical implications.

Government securities markets are important not only because they express confidence in a country’s creditworthiness. Government bonds are the mechanism by which states borrow, and the less confidence there is in your plan, the more expensive it is.

And these borrowing costs are at the heart of the calculations that the Treasury and the OBR make. The UK is £2.4 billion in debt and under the Truss plans it was to take on tens of billions more to fund tax cuts.

With market confidence evaporating (and gilt yields rising), the cost of this borrowing, old and new, has risen. If yields can be lowered, the cost of borrowing will come down, cutting billions off one side of the government’s balance sheet, which in turn could reduce the need for cuts.

The next few hours and days will be decisive.

Truth Social Exec forced out of board after ignoring Trump request: report


A co-founder of Truth Social’s media parent company was kicked off the company’s board after ignoring Donald Trump’s demands to donate some of his stock to Melania Trump, a pitcher has claimed Washington Post alert.

Trump lobbied for the gift to his wife even though he had already received 90% of the shares of Trump Media & Technology Group (TMTG) in exchange for the use of his name and another “minor involvement”, l ex-corporate executive Will Wilkerson told the Post.

The company’s co-founder reportedly dodged the request, telling Trump it would leave him with a tax bill he couldn’t pay. “Do whatever you have to do,” Trump retorted, according to Wilkerson.

He was kicked off the board five months later in what Wilkerson sees as payback for not handing a “small fortune” to Melania Trump, the newspaper reported on Saturday.

The incident was part of a series of explosive revelations backed up by multiple documents seen by the newspaper about bitter infighting in Trump’s business, technical errors, questionable financial representations and what Wilkerson insisted were violations of the Securities and Exchange regulations, according to the Post.

Wilkerson filed a whistleblower complaint with the Securities and Exchange Commission in August regarding the company. Wilkerson’s attorney told the newspaper that he is also cooperating with ongoing investigations into Trump Media by the SEC and by federal prosecutors for the Southern District of New York.

Wilkerson was fired from his position as senior vice president of operations at TMTG on Thursday after speaking to The Post.

Trump Media said in a statement responding to several specific questions from the Post regarding Wilkerson’s information that Trump, as chairman of the company, had hired former California Republican congressman Devin Nunes as CEO to ” create a culture of compliance and build a world-class team to lead Truth Social.”

The statement complained that the Post “sent us an investigation full of knowingly false and defamatory statements and other concocted psychodramas.”

He did not specifically answer any of the Post’s questions, according to the newspaper.

The new information follows a long list of bad news for Trump’s Truth Social and Media company.

Digital World Acquisition Corp. — the special purpose acquisition company (SPAC) that Truth Social is to make public — revealed in a Securities and Exchange Commission filing last month that investors had already given up $139 million in commitments on the billion of dollars previously announced by the company.

There’s probably more to come. The investors, who agreed to pay the money nearly a year ago, can now walk away from their commitments as Digital World missed its original Sept. 20 deadline to merge with Trump Media. That deadline was extended by three months after shareholders refused to approve his offer for a 12-month extension. But investors can still withdraw.

A major web hosting operator complained in August that Truth Social owed about $1.6 million in contract payments, an allegation suggesting the operation’s finances are in “significant disarray”, Fox Business reported. News.

In another setback, Truth Social’s trademark application was denied in August because its name sounded too similar to other operations.

Trump insisted last month that he was not concerned about Truth Social’s money troubles because, he explained, “I’m really rich,” he posted on the social media platform. “I don’t need financing.”

Yet in the next sentence he asked, “Private company, anyone???” in what appeared to be an invitation to investors.

Check out the full Washington Post story here.

This article originally appeared on HuffPost and has been updated.


Donors rappel down West Palm Beach building for Habitat for Humanity


WEST PALM BEACH — Brion Lawler’s nerves finally hit a fever pitch as he stood 19 stories above West Palm Beach with his back to the Intracoastal Waterway and the ocean.

He was strapped into his harness and began to walk, step by step, up the side of the pink Phillips Point building overlooking downtown.

Then the adrenaline kicked in. After the first few steps, Lawler pushed away from the stone facade of the building and soared into the air. He got the hang of it and was down to the ground in about 15 minutes.

Lawler and about 50 other people abseiled down the building on Saturday as part of a fundraiser for Habitat for Humanity of Palm Beach County, which builds homes and sells them to families struggling with housing costs using interest-free loans. The organization has built 256 homes in 30 years in the county.

“I’m still shaking,” Wellington’s financial adviser said after landing. “It wasn’t as bad mentally as I thought it would be. Once you step off the edge, you kind of step into the moment. The view is epic. It’s amazing.”

Three pairs of donors were lucky enough to go “overboard” early Saturday before high winds and rain forced volunteers, cheerleaders and encores into the parking lot of the building around 9:45 a.m.

Lawler, who is new to Habitat’s board, raised $1,250 to secure his spot.

“This mission is so essential to our community,” he said. “It’s so important that we build from scratch and help keep families safe.”

Learn more about accommodation:The Palm Beach County housing market is changing, but is it better to buy or rent?

After:While pushing council tax, the housing council group rejected options that cost builders dearly

Real Estate Updates:Palm Beach County’s fiery real estate market cools to a simmer, some grateful for the break

Max Lipman guides Peter Gates, CEO of Habitat for Humanity Palm Beach County, as he prepares to rappel down the Phillips Point office building in West Palm Beach on Saturday.

Habitat Home pays half the monthly rent in Palm Beach County

Habitat for Humanity builds between 10 and 12 homes a year in Palm Beach County. Families who partner with the organization and volunteer at least 400 hours can then purchase the homes using a 30-year interest-free loan.

Peter Gates, CEO of the organization, said mortgage payments for Habitat homes were about half of what most families in Palm Beach County would pay for rent.

Mike DeBock gives a thumbs up Saturday as he prepares to rappel down the side of the Phillips Point office building for a Habitat for Humanity fundraiser in Palm Beach County.

In August, the average monthly rate for a two-bedroom apartment in West Palm Beach was $2,165, the Palm Beach Post reported.

Gates said Habitat found that 39% of families in Palm Beach County spent more than a third of their income on housing. Housing instability, often marked by frequent moves, threats of foreclosure or conditions of insecurity, complicates the establishment of families, the academic success of children and the project of buying a home for parents.

This creates “desperation for far too many families,” Gates said.

The abseiling event is Habitat’s main fundraising campaign for the year. To be eligible for abseiling, donors must raise at least $1,000. The organization’s website says the first 100 people to achieve this goal would be chosen to go “overboard”.

“We equate that to what the owners we serve have to do. They have to take a chance. They have to step out of their comfort zone and do something that’s going to be life-changing but also scary,” Gates said. .

Annabelle Thompson and her husband, Ben, rappel together as their 7-year-old daughter, Arabella, and 6-year-old son, Bryson, look on from the landing zone.

“Getting up there is more nerve-wracking. You sit there with your back to the world and you know you have to get down. My stomach churned a few times and then I felt good. I was really excited to be here.” said Annabelle Thompson.

The Jupiter couple became involved with Habitat for Humanity after going to an event and hearing from a woman who had purchased a Habitat home. Annabelle Thompson said she was moved by the family’s joy and pride of ownership.

“There’s nothing quite like knowing you can help someone who wants it and is willing to work hard to get it, but just needs a little help,” Thompson said. .

Katherine Kokal is an education reporter at the Palm Beach Post. You can reach her at [email protected]. Help support our work, subscribe today!

Margex Margin Trading Platform Introduces Three New Types of Crypto Collateral


Margex has increased trading options for users by adding three new tokens, which include Avalanche, USDT (AVAX), USDC (AVAX)

VICTORIA, SEYCHELLES, October 15, 2022 /PRNewswire/ — Margex, a digital asset trading and investing platform that provides access to cutting-edge trading infrastructure worldwide, has announced three new types of cryptocurrencies that can be used as collateral for crypto Margin of negociation.

Margex adds support for avalanches and avalanche-based stablecoins

Innovative trading platform Margex has introduced support for three new digital assets to be used as collateral when opening leveraged long and short positions on a variety of cryptocurrency trading pairs.

The rapidly growing list of collateral assets now includes Avalanche (AVAX) and Avalanche-based versions of stablecoins Tether (USDT.e) and USD Coin (USDC.e).

The avalanche is the fastest smart contract platform in the blockchain industry, providing unparalleled speed and convenience to Margex users.

New collateral assets Crypto Holders access staking, trading and more

New support for digital asset collateral means Margex users have more options available than ever before. All supported collateral assets can be used for margin trading, staking, or Margex proprietary trading while still enabling staking functionality crypto holders to use a staking balance as a guarantee.

Margex regularly adds new features and platform improvements. A crypto price alert tool was also launched recently, enabling notifications when crypto prices, market capitalization levels or Ethereum gas charges exceed user-specified thresholds. The tool is free and the notifications are unlimited.

Newly added digital assets can be used as collateral now. To learn more about support for avalancheand USDT and USDC based on Avalanche, visit the official site for more information.

Margex, the first exchange of cryptowas established in 2019 to develop a world-class trading platform offering the most robust trading solutions, with up to 100x leverage on Bitcoin, EthereumRipple, Uniswap, Litecoin, and other popular digital assets. Margex enjoys the trust of the trading community, with a rapidly growing loyal user base.

For more information on Margex, please visit marginx.com.

Follow Margex on Facebook, Twitter, Telegramand YoutubeWhere join the Margex team.

This press release was published via 24-7PressRelease.com. For more information, visit http://www.24-7pressrelease.com.


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Sixth Circuit finds government seizure of equitable title to home to settle tax debt was a grab


The United States Court of Appeals for the Sixth Circuit has issued a potentially significant decision finding that a Michigan county went too far when it seized an individual’s property to settle a tax debt and failed to not refund the excess to the owner. Justice Kethledge wrote for the court in Hall versus Meisner.

Here is the brief summary of Justice Kethledge’s introduction:

In that case, the Oakland County defendant took “absolute title” to plaintiff Tawanda Hall’s home – worth nearly $300,000, on the facts here alleged – to satisfy a $22 tax debt $262, then refused to refund the difference. The other plaintiffs shared a similar fate with their homes. Under Michigan law – and the law of virtually every state for the past 200 years – a creditor can only convey real estate to a debtor after a public foreclosure sale, after which any excess proceeds exceeding the debt is repaid to the debtor. The return of this excess compensates the debtor for her equitable interest in the property – which in common parlance is called “equity” in real property, and which English and American courts have for centuries called “equitable title”. “. Yet the Michigan General Property Tax Act created an exception to this rule for a single creditor: namely the state itself (or one of its counties), which alone among all creditors can take equitable title to the property. a landowner without paying it, when he collects a tax debt. In this regard, Michigan law is not only self-serving: it is also an aberration from some 300 years of English and American court decisions, which have specifically prohibited the action that Oakland County has taken. here.

The government cannot refuse to recognize long-established property interests as a way to take them. This was the effect of Michigan law as it applied to the plaintiffs here; and we agree with the plaintiffs that, on the facts here alleged, the county took their property without just compensation. We therefore reverse the District Court’s dismissal of its claim against the county under the taking possession clause of the United States Constitution.

Justice Kethledge was joined by Justices Bush and Nalbandian. The Pacific Legal Foundation represented the owners.

OC Officials Violated Constitution in Prison Informant Scandal, Feds Say


Orange County prosecutors and sheriff’s deputies systematically violated the Constitution by using jailhouse whistleblowers to extract incriminating statements from other inmates, a scathing federal investigation has found.

The 63-page report released Thursday concludes a nearly six-year investigation into the two agencies by the US Department of Justice’s Civil Rights Division, following a scandal that rocked the Orange County court system. .

It is not uncommon for imprisoned informants to offer information to prosecutors or investigators. But federal investigators said the Sheriff’s Department and District Attorney’s Office used some jail inmates as “law enforcement officers” and created a snitch system that was maintained, rotated and concealed to ” track, manage and reward these gatekeeper informants”.

The prison’s informant system operated for years, with officials orchestrating a cover-up to conceal its repeated use from defense attorneys, judges and the public, according to the report.

“Orange County’s systematic violations of the constitutional rights of defendants have jeopardized countless lawsuits, and it has pulled the rug out from under the feet of already grieving families,” said Cristine DeBerry, Founder and Director of the California Attorneys Alliance, in response to the report. “When law enforcement violates their constitutional duties, they not only undermine trust, they often undermine accountability.”

Federal prosecutors began their investigation in late 2016 after former Orange County Dist. Atti. Tony Rackauckas offered “unfettered access” to documents and staff.

The Justice Department’s ‘pattern or practice’ findings come eight years after a deputy public defender representing Scott Dekraai, who slaughtered his ex-wife and seven others in a mass shooting in Seal Beach , first took issue with how the Sheriff’s Department and District Attorney’s Office used a prolific jailhouse snitch to extract incriminating statements without Dekraai’s attorney present.

“The findings of this report represent a critically important development for the county justice system,” said Scott Sanders, who represented Dekraai. “We have been alleging since 2014 the same civil rights violations analyzed by the DOJ, and now we finally have a government agency outlining why we were right and how bad conduct was by both agencies.”

The report determined that Orange County officials repeatedly violated the 6th Amendment, which prohibits law enforcement from using informants to obtain statements from defendants represented by counsel, and the 14th Amendment , which requires prosecutors to disclose evidence favorable to a defendant.

He also found that although several prosecutors appeared to ignore information that should have been shared with defendants, such as the credibility of the snitch or obtaining favorable treatment, many prosecutors did not question the information. , even if the same informants were used. in several criminal cases.

The prison’s informant system, which was primarily used in homicide and gang-related cases, operated for at least nine years until 2016, according to the federal investigation.

Deputies in the department’s Special Handling Unit covered much of the informant maneuvering inside the prison, moving experienced snitches near defendants in often high-profile cases, according to the report.

Normally, unit deputies are given the complicated task of housing inmates in the prison to ensure their safety. For example, the unit often receives information from gang investigators regarding street politics – which gangs are fighting each other or if a specific inmate might be the target of attack by certain groups. People accused of certain offenses are also often housed away from the general population as they may be targets of violence.

The Special Handling Unit, however, instead “requisitioned these systems to conduct criminal investigations using in-custody informants,” according to the report, often using the same informants who were directly or implicitly told they could obtain information. special benefits in prison, or flexible sentences, for their work.

By doing so, incriminating statements could be obtained by informants from defendants who have already obtained a lawyer, and whom the investigators could therefore no longer question without the presence of their lawyer.

Federal prosecutors determined that the Sheriff’s Department placed informants near the defendants depicted, ultimately gaining the confidence of the defendants behind bars.

They discovered that the department was hiding files to track and manage informants inside the prison. During the trials, prosecutors concealed the true nature of the information they presented, according to the report.

These findings were not surprising. During the Dekraai trial, it was revealed that deputies repeatedly planted informants near high-level defendants to extract confessions.

The fallout from the scandal led former Orange County Superior Court Judge Thomas Goethals to withdraw the Orange County District Attorney’s Office from the Dekraai lawsuit and sparked new trials in more than a dozen cases. cases, including several homicides.

The scandal led to the downfall of two of the county’s top law enforcement officials: then-sheriff Sandra Hutchens chose not to run for re-election, and the scandal was at the heart of Dist . Atti. Todd Spitzer’s loss to longtime prosecutor Tony Rackauckas.

“Overwhelmingly, the Justice Department report repeats the very problems I faced in becoming the elected district attorney for Orange County, which is cleaning up the public corruption that existed under the previous administration” , Spitzer said. “The report ultimately concluded that they committed willful negligence in the People v. Dekraai lawsuit.”

The Justice Department found that Rackauckas’ prosecutors “repeatedly violated the defendants’ 14th Amendment rights.”

Rackauckas argued that the question was exaggerated and that no one in his office intentionally withheld evidence. A county grand jury report broadly supported his view, concluding that only a few “rogue deputies” had done anything wrong.

But the federal investigation revealed much the same findings that Sanders uncovered while investigating the extent of the prison informant scandal.

The report recognizes that following the scandal, reforms have been undertaken.

Spitzer vowed he would not allow a repeat of the constitutional violations that occurred from 2007 to 2016.

His office implemented reforms with input from the Justice Department, including requiring express consent from the district attorney before using a prison informant. Spitzer also said he conducted his own investigation into the informant scandal and fired a senior assistant prosecutor for failing to properly disclose informant information to the defense. Two other veteran homicide prosecutors resigned or retired while under investigation.

But the report criticized both agencies for failing to properly reform their practices and made recommendations for further reforms.

While the district attorney’s office has changed hands, Sheriff Don Barnes, who was Hutchens’ right-hand man, continues to run the department as his elected successor.

Barnes insisted he made changes. As undersheriff, Barnes said, he helped change department policy and training governing the use of informants in county jails, which now requires his written approval.

“The unit that existed then, I stopped it,” he said. “We’ve replaced it with highly trained people who look at information in prisons differently than it was before.”

It wasn’t until 2016, under Hutchens, that MPs were educated on constitutional protections for using informants in criminal cases. The agency also refined its policy that year to require the sheriff to review the use of informants.

The prosecutor’s office produced a special report in July 2020 that focused exclusively on the actions of two prosecutors in the Dekraai case, which the report criticized.

“Even now, nearly six years after Dekraai’s recusal decision,” the report reads, “the OCDA has failed to adequately investigate the scope of the county’s in-custody informant program. of Orange.”

While the two agencies have attempted to resolve the informant scandal, they remain at odds with each other, including over the definition of a prison informant.

The report concluded with 23 sweeping recommendations for both agencies, including developing an integrated informant policy that protects the constitutional rights of defendants. The district attorney’s office and the sheriff’s department are also expected to team up to review previous investigations and prosecutions involving informants.

Federal prosecutors have urged the county to create an independent body to further examine past lawsuits that may have been marred by the scandal.

“There are good recommendations,” Sanders said, “but they won’t come to fruition without incredibly careful oversight, so that’s my hope.”

Asian economies may need to brace for rising debt and capital flight: IMF


Anything that creates turbulence in the financial markets will find a way and a transmission channel.

Anne-Marie Gulde

International Monetary Fund

“We have seen capital flows increase, reaching levels that we have not seen for the last time [sic] at the time of the taper tantrum and certainly anything that raises interest rates further through this channel will have impacts on borrowing costs in Asia.”

“It’s a very important concern that we have.”

The 2013 taper tantrum occurred when investors reacted to the US Federal Reserve’s plans to ease quantitative easing by rapidly selling bonds, triggering a price crash.

The IMF has warned that over-indebtedness prevails in many Asian countries and that those whose currencies depreciate against a stronger US dollar could face a deeper cost of living crisis. For example, the US dollar is near a 24-year high against the yen.

Asia and Pacific Economies: Real GDP, Consumer Prices

Real GDP (annual variation in %) Consumer prices (annual change in %)
2021 2022 (f) 2023 (f) 2021 2022 (f) 2023 (f)
Advanced Asia 3.7 2.2 2.3 1.2 3.6 2.6
China 8.1 3.2 4.4 0.9 2.2 2.2
India 8.7 6.8 6.1 5.5 6.9 5.1
ASEAN-5: Indonesia, Malaysia, Vietnam, Thailand, Philippines 3.4 5.3 4.9 1.9 4.7 4.4

Source: International Monetary Fund *Asian advanced economies refer to Australia, Hong Kong and Macau, Japan, Singapore, South Korea, Taiwan and New Zealand

The IMF predicts global growth will slow to 2.7% in 2023 – that’s 0.2 percentage points lower than its July forecast.

In Asia, it also cut growth projections for China to 4.4%, down 0.2 percentage points from the July forecast. The fund also cut the growth figures for the ASEAN-5 group of Indonesia, Malaysia, the Philippines, Thailand and Vietnam by the same amount to 4.9%.

Impact of the crisis in the United Kingdom

When asked if the UK bond crisis would have a contagion effect on Asian economies, Gulde said the The UK bond crisis will have a limited impact on Asian markets, although “anything that creates financial market turbulence will find a way” to upset other economies.

“Pension funds investing in Asia are lower than they used to be…what I would like to stress is that anything that creates turbulence in the financial markets will find a way and a transmission channel,” a- she told CNBC.

“Granted, we don’t know all the channels, but it’s definitely not good news for our countries in Asia as it is globally.”

Janet Li, head of Asia wealth management at asset management firm Mercer, agreed. She said Asia’s exposure to liability-driven investing, or LDI, was lower than the UK’s, mainly because long-term repos in Asia were less common than lump-sum withdrawal plans.

Liability-driven investments, which are widely held by pension funds, match assets and liabilities to ensure money is paid out to retirees.

The crisis in the UK resulted from rising yields and falling bond prices, which triggered collateral calls on pension funds to cover their LDI-linked derivatives.

In an effort to deposit more cash as collateral against the decline in the value of LDIs, pension funds sold UK gilts – or long-term government bonds – to raise cash.

The fire sale prompted the Bank of England to step in with a more orderly purchase of these unloaded gilts.

Central banks should continue raising interest rates, Mercer says

“So if we try to compare and see if Asian patient funds are more at risk right now, the short answer is no,” Li Li told CNBC’s Squawk Box Asia on Wednesday.

“But many defined benefit plans still have long-term liabilities they must manage due to the recent spike in interest rates.”

However, there were benefits for Asia, Gulde said.

As many Asian economies such as Japan and Hong Kong open up, increased human mobility will generate economic activity and could block a downturn. Separately, currency depreciation in the region could mean increased exports for Asian economies, Gulde added.

China’s slowing economy is also dampening underlying inflation in the region, the IMF said.

UK borrowing costs rise again as BoE meets bond plan deadline

  • UK bond yields rise again
  • The pound fell overnight
  • BoE’s Bailey says there is no extension of bond-buying support
  • Data suggests UK economy heading into recession

LONDON, Oct 12 (Reuters) – British government borrowing costs rose again on Wednesday after Bank of England Governor Andrew Bailey told pension funds they had three days to resolve liquidity issues before the bank ended the emergency bond buying that provided support.

The yield on the 20-year gilt rose above 5% for the first time since September 28. It was then that the BoE moved to calm the turmoil in the bond market triggered by Prime Minister Liz Truss’s new government’s plans for deep unfunded tax cuts.

The pound fell sharply on Tuesday night after Bailey delivered his stark message on the sidelines of the International Monetary Fund’s semiannual meetings in Washington.

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“We have announced that we will be out by the end of this week. We believe the rebalancing needs to be done,” he said at an event hosted by the Institute of International Finance.

“My message to the funds involved and all companies involved in managing these funds: You have three days left now. You have to do this.”

UK financial markets have been under pressure since new finance minister Kwasi Kwarteng announced the series of tax cuts without any details on how they would be paid for on September 23.

Kwarteng and Truss say the tax cuts are needed to get Britain’s economy growing again. Data released Wednesday suggested it was headed for recession.

Soaring borrowing costs have hit some pension funds, prompting the BoE to launch its bond-buying program on September 28, doubling in size on Monday, then expanding it to include inflation-linked bonds on Tuesday. .

Yields rose across the maturity spectrum on Wednesday with the biggest rise in two-year gilts, up about 10 basis points on the day. Yields on indexed bonds also rose.

Investors fear Friday’s deadline for the end of BoE bond purchases may come too early for some funds. The central bank said on Tuesday that the situation presented a “significant risk” to financial stability.

Bailey and other senior officials have stressed that their support for the bond market – at a time when they were supposed to sell government bonds to end their huge stimulus to the economy – is temporary.

The Financial Times reported that the BoE had privately suggested to bankers that it could continue buying bonds beyond Friday’s deadline if market conditions dictated, citing three sources briefed on the talks.

The BoE’s press office said it had no further comment beyond Bailey’s on Tuesday in Washington.

Economic data released on Wednesday showed the UK economy contracted unexpectedly in August and was likely on course for a recession even before the recent increase in borrowing costs, underscoring the broader challenge for the BoE , which raises interest rates to combat high inflation.

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Reporting by Andy Bruce Editing by William Schomberg and John Stonestreet

Our standards: The Thomson Reuters Trust Principles.

Credit Suisse faces US tax investigation and Senate investigation – Bloomberg News


Oct 11 (Reuters) – The U.S. Justice Department is investigating whether Credit Suisse (CSGN.S) continued to help U.S. clients conceal assets from authorities, eight years after the Swiss bank paid a settlement for tax evasion of $2.6 billion, Bloomberg News reported on Tuesday.

Investigators are looking into whether the bank helped US account holders, particularly those holding South American passports, who may not have notified the Internal Revenue Service of assets worth hundreds of millions of dollars, according to the report, citing people familiar with the matter. (https://reut.rs/3CRbfEN)

The investigation adds to the beleaguered bank’s woes.

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One of Europe’s biggest banks, Credit Suisse is trying to recover from a series of scandals, including losing more than $5 billion from the collapse of investment firm Archegos last year , when she also had to suspend client funds linked to bankrupt financier Greensill.

In the past three quarters alone, losses have amounted to nearly 4 billion Swiss francs ($4.03 billion) and last week, in an unusual move, the Swiss National Bank, which oversees the financial stability of systemically important banks in Switzerland, said he was monitoring the situation at Credit Suisse.

Credit Suisse, Switzerland’s second-largest bank, announced last week that it would buy up to 3 billion Swiss francs of debt, in a bid to show its financial strength when speculation over the bank’s future heats up. are accelerated on social networks. Read more

As part of a restructuring launched by Chairman Axel Lehmann, the bank plans to reduce its investment banking to focus even more on its flagship wealth management business.

“Credit Suisse does not condone tax evasion,” the bank told Reuters in a statement on Tuesday. He also added that he is “cooperating closely with U.S. authorities, including the U.S. Senate and the Department of Justice.”

A Justice Department spokesman did not immediately respond to a Reuters request for comment.

($1 = 0.9930 Swiss francs)

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Reporting by Noor Zainab Hussain, Sneha Bhowmik and Mrinmay Dey in Bengaluru; Editing by Shailesh Kuber

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Column: Sea level rise projections are essential for proactive land use planning


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Contrast enhancement by location and volume is associated with long-term outcomes after thrombectomy in acute ischemic stroke


CE was commonly found on NCCT obtained immediately after EVT in patients with AIS3,4,5,6,7,8,9,10which has been attributed to disruption of the blood-brain barrier4,11,12,13. In the present study, the incidence of CE on NCCT was 71.5%, which was comparable to previous reports (30.7–87.5%3,4,5,6,7,8,9,10). Our work is novel in that we adapted the ASPECTS score methodology to CE combined with volume measurement to assess the extent and location of CE, and found that CE based on this quantitative method after EVT was an independent and powerful predictor of clinical functional outcome after excluding certain hemorrhage by control CT at 24 h.

Previous studies have investigated the relationship between hyperdensity on the NCCT and clinical outcomes, but the results were conflicting. Some studies have shown that the presence of a high density lesion on the NCCT has no prognostic value on clinical outcomes8,9,10. On the other hand, Portela et al.3 found that the total size of the hyperdense zone had a positive correlation with the mRS at 90 days after EVT. As stated previously, hyperdensity may be related to contrast agent, hemorrhagic transformation, or a combination9,11,13,17, which can be caused by varying degrees of BBB disruption. Based on dual-energy CT (DECT) technology, which enables precise differentiation between contrast staining and hemorrhage, Renú et al.4 and Chen et al.5 reported that contrast staining within 24 h of EVT was associated with an increased risk of bleeding and was also an independent predictor of adverse clinical outcomes. The definitions of hyperdensity in these studies were of two kinds: strong attenuation and contrast staining, depending on whether or not it contained hemorrhage. We speculate that the controversial results of these studies may be related to the following reasons: the heterogeneous definitions of hyperdensity based on the different computed tomography techniques after EVT (high attenuation on NCCT3,8,9 vs contrast staining on DECT4,5,10), or the absence of a quantitative assessment (quantitative3 vs non-quantitative4,5,8,9,10).

We adapted the methodology of the ASPECTS score to CE combined with volume measurement by 3D reconstruction to ensure an accurate assessment of the extent and location of CE on the NCCT obtained immediately after EVT. To our knowledge, this is the first report describing this technique in the evaluation of CE after EVT. Although DECT is considered the gold standard for differentiating contrast agent extravasation and cerebral hemorrhage after EVT, with high sensitivity and specificity4,5,18,19,20, it is not readily available in most stroke centers. Moreover, since hemorrhagic transformation has been found to be associated with poor functional outcome in AIS-LVO patients in previous studies, particularly PH2 (>30% of infarcted area with an occupancy effect of significant space)21,22,23, we explored the relationship of CE on NCCT with functional outcome after excluding cases with definite hemorrhagic transformation. Interestingly, the presence of CE in the caudate region, M2, M4, M5, and M6 was significantly related to poor outcome, which may be explained by the fact that these cortical regions of ASPECTS contained eloquent brain functional areas involving the premotor, motor and parietal cortex. Another possible explanation is that the presence of CE in cortical areas may be associated with poor collateral circulation, which was an independent predictor of poor clinical outcome in acute ischemic stroke.24,25,26,27,28. The other possibility may be associated with pre-existing early infarction prior to EVT, which was supported by the correlation between CE-ASPECTS scores and baseline ASPECTS of infarct lesions in this study (ρ = 0.31 ; P13,16,29.


We acknowledge the limitations of our study. A main limitation is that a follow-up CT 24 h after EVT is needed to exclude hemorrhage in the current study, which will limit the clinical value of the current findings. However, the current results will be useful for patients whose contrast enhancement after EVT can be assessed without the need for a CT scan 24 h after EVT. On the other hand, the current results will provide important information for patients with contrast enhancement after VTE whose hemorrhage has been excluded by early DECT. Second, data based on a relatively small sample size and a single medical center were susceptible to selection bias. A larger sample of patients can further refine the model. Due to the retrospective nature of the present study, potential confounders could not be fully controlled. Third, the dose of the contrast agent was not collected in this study due to the retrospective design. It has been reported that high amounts of contrast agent could be a potential contributor to BBB disruption due to its toxicity5,11,30and can lead to the neurological complications of contrast-induced encephalopathy30.31. In the present study, comparable procedure time and stent retriever passages between groups may indirectly rule out the effect of CE quantity. Fourth, we did not record the number of microcatheter injection cycles achieved, which is also known to be associated with contrast extravasation and intracranial hemorrhage.32. Finally, since the present study focused on the effect of CE on clinical outcomes, patients with hemorrhage defined on the NCCT immediately after EVT were excluded to avoid the confounding effect, our conclusion therefore does not apply to patients with hemorrhagic transformation.

Made in America is back, leaving American factories scrambling to find workers


New York
CNN Business

US factories are buzzing and manufacturers are scrambling to find workers as the pace of hiring hits levels not seen in decades.

Friday’s September jobs report showed U.S. manufacturers added 22,000 more workers in September, boosting employment in the sector by nearly 500,000 over the past 12 months.

The nearly 13 million workers employed in American factories constitute the industry’s largest workforce since the Great Recession caused employment in the sector to plunge more than a dozen years ago. Since April, manufacturing employment has grown at an annual rate of around 4%, the fastest sustained pace of growth since 1984, when the sector had more than twice as many jobs in the United States.

And employers say they are now scrambling to fill even more jobs. The sector had about 800,000 openings for most of last year, despite the hiring spree, according to the Labor Department report.

With supply chains causing problems across the global economy, many U.S. companies that relied on foreign suppliers have focused on sources of parts and goods much closer to home.

“It took months for the parts to not only be made, but to arrive, and they decided they were willing to pay US manufacturing prices to get that much faster,” said Hayden Jennison, president of Jennison Corporation, a Carnegie, Pennsylvania company that makes everything. from fire fighting equipment to construction machinery. He said there was enough demand for his goods to staff his factory with an extra shift. But even though he pays between $20 and $30 an hour, he cannot find the workers he needs.

“Hiring has been a problem since 2020,” Jennison said. “Hiring experienced candidates who understand the industry and understand what they do has been very difficult.”

Typically, factory jobs and production are hit during economic downturns, as they did during the Great Recession. But even with fears of a recession mounting now, industry experts do not expect factory jobs to default back to their usual boom and bust cycle this time around.

“I think we’re in uncharted territory,” said Jay Timmons, CEO of the National Association of Manufacturers. “For 100 job offers in the sector, we only have 60 people looking. I think it will take some time to fill this pipeline.

Timmons said wages in the sector have risen 5% over the past year, and he expects them to continue rising as manufacturers scramble to find labor qualified.

Experts say one of the biggest problems manufacturers face in attracting workers is their perception of the nature of the work.

“We often look at the footage of the build and we see the sparks flying and a welding environment and it may be a bit dirty, dark. But overall, our manufacturing jobs today are high-tech,” said Eric Esoda, CEO of a nonprofit organization providing consulting and training services to small and medium-sized manufacturers in northeast Pennsylvania.

One group of employers is looking for more help: women. Manufacturing remains a male-dominated industry, with only 30% of hourly factory jobs held by women, according to NAM. But that’s up from 27% just two years ago, and the Manufacturing Institute, an education and workforce development arm of NAM, has various programs aimed at increasing the share of female workers in factories to 35% by 2030.

Today, less than 10% of private sector jobs are in manufacturing, compared to more than 40% at the end of World War II. But it’s still a key sector of the economy, one that pays much better than many others. The Labor Department reports that the average weekly wage for manufacturing jobs is $1,250, or $65,000 a year, 11% higher than private sector jobs overall and 81% higher than jobs Retail.

3 Common Credit Myths That Could Hurt Your Score


(NerdWallet) – Financial misinformation is rampant and could hurt your credit score. A new NerdWallet survey reveals that Americans have many misconceptions about their credit, some of which could seriously hurt their scores. Here are three common credit rating myths and how to guard against them.

Myth 1. Leaving a balance on your credit card is good for your score

It’s a persistent credit myth: Nearly half of Americans (46%) believe leaving a balance on their credit card is better for their score than paying it off in full, according to the survey. But having a balance doesn’t help your credit and can, in fact, be detrimental if the balance is a large percentage of your available credit limit. In effect, this increases your credit utilization (the amount of your credit limit used), which greatly influences your score.

Another disadvantage of leaving a balance on your credit card is the interest charge. Credit card debt – which you have if you leave a balance on your card, even intentionally – is one of the costliest types of debt due to double-digit interest rates. And while you might think leaving a small balance on your card wouldn’t cost that much, it may be due to the way credit card interest is calculated.

If you don’t pay your balance in full by the due date, interest is calculated, but not just on the remaining balance. Instead, it’s calculated on your average daily credit card balance. So if you leave a balance of $10 on your credit card, but the average daily balance on your card during the month was $1,000, interest is charged on the $1,000 balance.

You can combat this by paying off your balance on or before the due date, which can lower your credit usage and monthly costs.

Myth 2. Closing a credit card you’re not using is good for your credit

The survey found that nearly half of Americans (46%) think closing a credit card they no longer use can improve their credit score. Keeping a financial product you don’t use seems counterintuitive, but closing a credit card can hurt your score.

Closing a card can affect your credit score in two ways: by increasing your credit usage and by decreasing the average age of your accounts. And while there are reasons to close a credit card account, in general, non-use isn’t enough of a reason to cash out the credit.

Even if you don’t cancel your credit card, the issuer will eventually close any account that hasn’t been used for a certain period of time. To combat this, you can charge a small recurring expense — like a monthly subscription — to the card and set up autopay to clear the credit card balance each month.

Myth 3. A credit check will not affect your score

More than a quarter of Americans (28%) don’t realize that a lender performing a credit check can lower their credit score, according to the survey. There are two types of credit checks, a thorough inquiry and a soft inquiry. When you check your credit, it is a gentle inquiry and does not affect your score. But when a lender checks your rating to determine the creditworthiness of a financial product, it’s a tough investigation and your rating may drop.

There are a few exceptions. For example, for certain financial products, such as a mortgage or a car loan, several requests made over a short period of time count as one serious request. The time frame varies by credit score model, but it’s safest to submit all applications within two weeks. This is called “rate shopping” and allows you to shop around to find the most favorable loan terms.

However, requesting multiple credit cards in a short period of time does not fall under rate shopping and will result in a thorough investigation for each request. For this reason, limiting the number of card applications you submit is a good idea. Serious inquiries can stay on your credit report for two years, so before applying for a new credit card, make sure it’s available to consumers in your credit score range.

Q&A with Lake-Savage Area School Board Candidate Enrique Velazquez | Anterior lake


Name Age: Enrique Velázquez, 47 years old

Address: My campaign address is 4455 Village Lake Drive SE #1198, Prior Lake

Family: Married to the love of my life Sarah. We have four children: Gabrielle (27), Kamryn (19), Lillian (16), Mason (13).

Use: Director of the City of Minneapolis Regulatory Services and Inspections Division.

Education: MBA with specialization in public and non-profit management; BSBA with concentration in project management and finance; Economic Development Institute Certification

Hobbies interests: Music, martial arts, creative writing, breaking down barriers

Previous experience: Non-profit sector—current school board director; Subway Southwest Intermediate School District Board Representative; Southwest Metro Education Foundation Board Representative; former treasurer and co-director of Native Strong; former Chairman of Community Relations and Chairman of Corporate Relations with the National Society of Hispanic MBAs; former board member coach and event coordinator for PLAY Track & Field. Private Sector – 15+ years of experience managing global operations for a Fortune 10 company, including responsibility for a $1 billion annual revenue portfolio, risk mitigation experience in management of over $50 million in legal exposure; product design responsibility for diagnostic capability, serviceability and accessibility to expand product reach; Public Sector – responsibility for over $250 million in capital improvement projects, familiarity with GASB funding, meeting regulatory and fiduciary requirements.

Contact information: [email protected]; 612-791-9245

Why do you want to serve on the school board?

Education is the most powerful transformative tool we have as a community. Environmental progress, economic growth, community development, and leadership all erode if we fail to equip the next generation of leaders to think critically, adapt to change, or grow as people. I am proof that education has the power to transform lives for the better and I want to continue to serve the community that I love and that has given so much to my family.

What are the three main elements of your platform and how would you approach them?

1. Mental health supports in our schools. The pandemic has revealed significant gaps and needs among our students. We need to equip our certified and non-certified staff to be able to recognize needs, develop tools to defuse situations, support systems for our learners and for staff as well.

2. Culture of belonging. Regardless of our differences, we need safe spaces to teach, learn, and become our best selves. We need to educate and empower our certified staff with tools and resources so they can engage in meaningful conversations with our learners about the power of words and actions. We must reinforce the district’s zero-tolerance policy for bullying, hazing, and racist activity that individually and collectively harms others.

3. Equity in education. It is a multifaceted concept. Not all learners are the same and should not be treated as such. Learners in gifted and talented programs need the necessary focused attention, access to tools and resources that allow them to push to their abilities. Likewise, those who participate in the Life Skills program or receive other educational services need focused attention, care and support that will allow them to thrive. General education students need different sets of tools, resources and support for all learners to reach their full potential.

School board meetings have been contentious in recent years, with disagreements over masking policies, curriculum and other issues. How would you encourage civil discourse while serving on the board?

I tend to leave emotion out of the equation and focus on qualitative and quantitative data to guide decisions. Leading with data helps all stakeholders engage in open dialogue. While we may approach challenges differently, if we work from the same data sources and believe that data to be accurate, we have a solid foundation for conversation.

As you know, a technology tax was on the ballot last year and did not pass. How will you get the community to support future levies and referendums if elected?

The ballot measure failed narrowly. That being said, in this process we have seen the importance of community engagement, not just when the district has a need. Community engagement needs to be part of what we do as a district so that our stakeholders have visibility, have a mechanism to have their voices heard, and understand needs before the district asks for financial support. The engagement was missing. With the advent of the finance committee and initiatives such as the state of the district listening sessions, the district is on the right track.

Describe your leadership style:

My leadership style is that of a servant-leader. I will never ask anyone for something that I am not ready to do myself or that I am not already doing. In a crisis or state of emergency, I remain cool, calm, collected and thrive in these pressure situations.

Why should people vote for you?

I bring a level-headed, logical approach to problem-solving district needs. I trust and verify what is presented to ensure that the information given corresponds to the reality of our communities served. As a third culture individual who has lived in a number of countries and worked globally, I see things through a global lens and am able to reflect the needs of our diverse community.

In the past 10 years, have you been convicted of one or more serious misdemeanors, or been involved in a personal or business bankruptcy or foreclosure?

No, I have not been charged or convicted of one or more serious misdemeanors. I have never been involved in any personal or business bankruptcy or foreclosure.

Banks must ‘clear the trail’ on high loan defaults



Tribune Business Journalist

[email protected]

The Central Bank Governor agreed yesterday that commercial institutions need to “focus more on clearing the runway for new lending” by tackling defaults that exceed Caribbean and international standards.

John Rolle, speaking to a forum organized by the Bahamas Think Tank, said comparisons between the level of non-performing bank loans in the Bahamas and those elsewhere in the region, the United States and Canada “highlight the distance that we have to go to get the delinquency ratios in our banking sector lower than they were in 2008”.

Non-performing bank loans, on which borrowers are 90 days or more past due, amounted to $451.4 million, or 8.4% of total loans outstanding at the end of August 2022. And d Other data unveiled by Rolle revealed that the Bahamas commercial bank lending to the private sector has contracted every year for the past decade since 2012, with only 2019 coming close to stagnation.

The Central Bank governor said the risk-averse Bahamian commercial banks are engaged in “pro-cyclical” lending, meaning they only start extending credit when economic growth and strengthening are visible rather than lead them themselves by their own activities.

This prompted Dionisio D’Aguilar, former minister of tourism and aviation in the Minnis administration, to argue that commercial banks have “transformed” into fee-paying institutions rather than engaging in their primary raison d’être. – lend money to eligible borrowers. He challenged Mr Rolle on “how to fix this problem” as banks’ reluctance to lend was undermining economic growth.

The Central Bank Governor responded that the former Christie administration’s introduction of mortgage relief and the Homeowners Protection Act had shaken commercial banks’ confidence to lend because the latter, in particular, had made it more difficult to realize the troubled assets on which defaulting loans are secured by bringing the courts into the process.

“Part of the process of enforcing guarantees is for the government to try to achieve certain social policy objectives based on the impact on borrowers,” Rolle said. “It’s more than just a foreclosure. The point of a collateral foreclosure is that you should be able to liquidate. We need to understand that part of the protracted collateral resolution process reflects the fact that disposing of foreclosed properties is not easy in this real estate market.

Suggesting that homebuyers would be better off acquiring distressed properties that have already been completed rather than building their own, which would require a cultural shift but would help lenders, Mr Rolle said: ‘Collateral issues are also linked to the fact that the middle class has been badly affected by much of what has happened over the last decade and a half.

“And to the extent that even if you have a new generation of potential borrowers, if they’re not as easily replacing the ones who have kept the collateral, it’s not as easy for them to buy the collateral,” said he declared. “Going forward, credit institutions want more certainty and clarity about how they assess borrowers and the credit bureau will help them so that banks can feel more confident in terms of the historical basis on which people justify their access to credit.

“What you should be very confident with is that even if you have a high number of non-performing loans, the banks have in many cases already absorbed a loss or provisioning of 100% on average, which means that ‘they’ve taken a hit to profit and so it’s just a matter of trying to resolve any assets they might still have on the balance sheet, so we can focus more on clearing the runway for new lending.’ think that will help.

Mr Rolle also pointed out that the return on equity for investors in commercial banks in the Bahamas is “sufficiently lower” than in some other Caribbean jurisdictions. “It doesn’t matter what results we try to achieve in the sector. We cannot discriminate in terms of what investors are looking for or in terms of desired return on investment, whether it is local or indigenous interests or international interests,” he said.

“Try to understand what drives these differentials. One of those the Central Bank is focusing on in the medium term is trying to get some of the excess capital out of the system, which means some of it is going to come out in terms of repatriation[ofdividends-becausesittinginthesystemisn’tentirelyproductive[ofdividends-becausesittinginthesystemit’snottirelyproductive”[desdividendes-parcequesiégerdanslesystèmecen’estpasentièrementproductif[ofdividends- becausesittinginthesystemit’snotentirelyproductive”

EDA Supports Fair Credit Leaders


Debra Davis (left), pictured here with an EDCKC RLF borrower, participated in the Equitable Lending Leaders program.

While accessibility to credit is critical to the success and growth of small businesses, research shows that lending to borrowers from marginalized communities continues to lag.1 In 2020, the CARES Act catalyzed a major expansion of the successful Economic Development Administration (EDA) Revolving Loan Fund (RLF) program. RFLs provide small businesses with access to capital in the form of seed funding to grow and generate new employment opportunities with competitive wages and benefits. Prior to the onset of the pandemic, EDA’s RLF portfolio had a combined capital base of nearly $900 million; Recovery assistance from the CARES Act has grown the portfolio to over $1.5 billion.

To help EDA-funded RFLs implement fair lending practices to reach borrowers in marginalized and underserved communities, the Institute for Local Self-Reliance and Recast City have collaborated to develop a series of workshops, Fair Lending Leaders. Supported by a $790,020 grant from EDA’s National Research and Technical Assistance (RNTA) program, the first 12-session online program launched in late 2021 with a cohort of 40 decision makers drawn from RFL operators from the EDA.

Debra Davis, a business development loan officer with the Economic Development Corporation of Kansas City (EDCKC), was one of those who participated. According to Davis, she joined EDCKC in 2019 with a mandate to help make the company’s existing RLF more diverse in its lending practices. However, during the pandemic, much of his awareness of underserved businesses in Kansas City’s business community has been significantly reduced.

“I received a letter from our EDA economic development representative telling me about the program,” Davis recalls. “The program gave us the opportunity to learn new ways to achieve our goal of integrating better equity practices into our loan fund.”

Legend below

Briselda Hernandez of the Souris Basin Planning Council credits the Equitable Lending Leaders program with helping SBPC identify ways to change its lending practices to achieve more equitable outcomes.

For six months, cohort members met for one hour every two weeks. During the workshop sessions, they learned how to improve the borrower experience, best underwriting practices for reaching diverse business owners, and strategic marketing ideas for organizations with limited resources.

Another member of the ELL cohort, Briselda Hernandez, is executive director of Minot, the Mouse Basin Planning Board (SBPC) of North Dakota, an EDA-designated economic development district and RFL operator.

“We decided to apply because our organization has gone through quite a bit of change in terms of focus and how we try to accomplish our mission,” explained Hernandez, another member of the Equitable Lending Leaders cohort. “One of those changes is an intentional effort for greater inclusion.”

Davis and Hernandez echoed a consensus of feedback received from other course participants who praised the Equitable Lending Leaders program and its quality of instruction.

“We felt that really complemented what we’re trying to achieve,” said Hernandez, who then identified how key learnings from the series are helping SBPC change its own lending practices to achieve more equitable outcomes. “Do we need too many approvals? Does it take too long? We want to identify the obstacles we create.

Building on the success of the first cohort of Equitable Lending Leaders, ILSR and Recast City plan to expand their reach. Two additional cohorts, each recruiting approximately 40 RLF operators, are expected to occur over the next year. With evolving public health conditions, future sessions may include in-person and hybrid options.

EDA’s National Research and Technical Assistance Program funds research, evaluation, and technical assistance projects that promote competitiveness and innovation in struggling rural and urban areas across the United States and its territories. Discover other RNTA projects on eda.gov.

Tags: Small business development/RFL

Disney customer services take 6.5 weeks to respond to request only to say they can’t help


Planning a Disney Parks vacation is complicated, and sometimes you need a little extra help! That’s where Disneyland Resort Guest Services comes in, offering chat, email, and phone conversations with Disney cast members.

Credit: Disney

Like many other industries, Disney parks are severely understaffed after reopening during the ongoing COVID-19 pandemic. Many visitors report hours of waiting on hold with Disneyland and Walt Disney World Resort. However, for one Disneyland Resort fan this week, wait times hit an all-time high.

Related: How to Help Disney Cast Members Amid Layoffs and Park Closings

Reddit user u/boozername shared a screenshot of an email request he sent on August 19, in which a Disney cast member didn’t respond until October 3 – six weeks and a half later:

Disney customer service took just 6.5 weeks to respond from Disneyland

The guest wanted to know if he could transfer his Oogie Boogie Bash tickets to someone else since he could no longer attend. To make matters worse, when a Disney cast member responded, they were “not able to fulfill your request using our messaging service.” The Cast Member recommended calling Disneyland Guest Services instead.

Related: Disneyland Fans Overwhelm Ticket Sales, Wait Time ‘Recalculated’

Naturally, the guest had already called Disneyland Resort a few weeks prior after not receiving an email response. They were able to give their Oogie Boogie Bash tickets to family members with no problem.

Jack Skellington and Sally at Oogie Boogie Bash
Credit: Disney

“In the meantime, I called weeks ago and was told the name on the OBB tickets didn’t matter,” they said in a comment. “You can change the name if you wish, but it shouldn’t affect admission.”

Related: The Ultimate Guide to Disney Genie and Genie+

While long wait times are frustrating, we always recommend calling the Disney Park hotline or using live chat services for quick assistance.

disney actor
Credit: Screenshot via Annual General Meeting of Shareholders

Related: Fan Favorite Attraction RETURN To Disney California Adventure

Have you waited a long time for an answer from Disneyland or Walt Disney World Resort?

My changing neighborhood – Episode 4: The brown house | Inside the bricks


There’s this house on my street that longtime residents of the neighborhood call “The Brown House.”

It’s actually not brown. He is grey. But it’s called “The Brown House” because the family that lived there had the surname “Brown”. And this house was known seven years ago because the neighbors knew it as a drug store. where people would come not only to buy drugs, but also to use them.

In August 2015, the Cuyahoga County District Attorney’s Office convinced a judge to order that the house to barricade. A few months later, the owner of the house, Sean Brown, was in prison and the house was in tax foreclosure. An investor bought the foreclosed property, renovated it, and in 2019 sold it to a young family for over $300,000.

We tend to think that the reasons people leave a gentrified neighborhood are very simple. Housing prices and rents are rising; people leave the neighborhood in anger or sadness because it’s too expensive. Or maybe, in some cases, we might think that some people who leave are happy because they’re enjoying gentrification, laughing their way to the bank and a retirement apartment in Florida.

But there are a lot more variations than that — almost as many variations as there are people leaving. And not all emotions are on one side of the spectrum. Anger, sadness, happiness and gratitude often coexist, within the same household and the same person.

In this episode, my collaborator Ricky Moore and I have a heartfelt conversation with Keith and Caitlin Laschinger, the new couple who moved into Brown House with their young son.

Keith Laschinger told us he struggles with the issue of gentrification. He wants to be part of a diverse neighborhood, he says, “but at the same time, I’m part of a dynamic where I drive up the price of houses in the neighborhood.”

He added, “The way I make peace with it is better for Caitlin and me to raise a family here in the city of Cleveland and pay taxes here in the city of Cleveland and spend money. money in the city of Cleveland so that we can live in the suburbs, just morally.”

I also talk to other neighbors who have left the neighborhood about how they view their decision to move.

And I tell the story of Lean In Recovery Center, a sober living community proposal that attempted to open in the neighborhood in 2016 — but was turned down. Was this a case of “NIMBY”-ism, where privileged neighbors organized to say “not in my backyard” to a project they opposed for selfish reasons? Or, as local leader Abbe DeMaio told me, were their concerns based on the developer’s lack of respect for the neighborhood?

In this episode: why people leave, what they think about it and what the people who move in think of their role in changing the neighbourhood.

Sign up for our behind-the-scenes newsletter to get more stories from the neighborhood and let us know what you think in our audience survey.

How does a home equity loan affect your credit?


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SAN JOSE, Calif.–(BUSINESS WIRE)–If you own your home and have significant equity, you may be able to leverage some of that equity through a home equity loan. home equity or a home equity line of credit (HELOC). Before you do, however, it’s important to consider how taking out a loan or an additional line of credit can affect your FICO® score.

Here’s what you need to know about how home equity loans and HELOCs work and how they impact your credit, from myFICO.

For more information on loans and credit, visit the myFICO blog at https://www.myfico.com/credit-education/blog

How do home equity loans and HELOCs work?

A type of second mortgage, home equity loans and HELOC are similar in that they both allow homeowners to access a portion of their home’s equity, either in the form of an installment loan or a revolving line of credit.

With a home equity loan, you’ll receive the full loan amount up front and then repay it over a set period, which can range from five to 30 years, with a fixed interest rate.

In contrast, a HELOC is a revolving line of credit, similar to a credit card. After approval, you can draw down your line of credit, usually by debit card, wire transfer, or even a paper check.

During the drawing period, which can last up to 10 years, borrowers are only required to pay interest on the amount they have borrowed. However, if they max out their credit limit, they will have to pay off the balance if they want to continue making draws. Once the draw period ends, they will enter a repayment period, which can last up to 20 years, during which they will pay off the remaining balance.

Unlike home equity loans, HELOCs typically have variable interest rates, which can fluctuate over time. In some cases, however, the lender may allow you to convert some or all of your balance to a fixed rate payment plan.

With both types of credit, you may be able to deduct the interest you pay if you use the loan funds to buy, build, or significantly improve the home used as collateral for the debt. If you use the proceeds for other purposes, however, the interest is not tax deductible.

How do home equity loans and HELOCs affect your FICO® scores?

These second mortgages can affect your credit in different ways, for better or for worse. Here’s a breakdown of what to expect.

payment history

If you manage to make your payments on timehome equity loans and HELOCs can help boost your FICO® scores over time.

However, if you miss a payment by 30 days or more, it could have a significant negative impact on your credit. Plus, because you’re using your home as collateral for the loan or line of credit, defaulting on the payment could result in the lender foreclosing the home, further damaging your FICO® scores and leaving you without your primary residence.

Therefore, it is crucial that you ensure that you can pay additional monthly payments before committing.

Amounts due

The amount you owe is another important factor in your FICO® scores. With a home equity loan and a HELOC, the amount you owe is another important factor in your FICO scores. Debt incurred through a home equity loan or HELOC can impact your FICO scores through the Category “Amounts due” of your credit score, under the “amount owing on all accounts” sub-category. The amount of the installment loan still owed, compared to the original loan amount, may also be a factor.

Length of credit history

Adding a new business line to your credit reports will result in the average age of your accounts drop, which could negatively impact your FICO® score. However, because home equity loans and HELOCs often have long terms, they can have a positive impact on your credit over time, especially if you manage them responsibly.

New credit

Each time you apply for credit, the lender usually makes a difficult investigation on your credit reports to assess your creditworthiness. A new application can knock less than five points off your FICO® score, but if you apply for multiple credit accounts, it could have a cumulative effect. Keep in mind, though, that inquiries (and other changes to your credit report) impact everyone’s scores differently, depending on their credit history. Some people might see bigger changes than others.

The good news is that if you want to compare interest rates and terms before choosing a lender, you can usually do so without worrying about damaging your credit score too much. With the new FICO® scoring models, mortgage, auto, and student loan inquiries made within 45 days are combined into one for scoring purposes.

Composition of credit

Having different types of credit can help boost your FICO® scores because it shows you can manage a range of credit options. So adding a second mortgage could potentially improve the credit mix component of your credit scores.

Make sure your credit is ready for a home equity loan or HELOC

If you are considering applying for a home equity loan or HELOC, it is important to understand the requirements and prepare your credit for the application process.

Like conventional mortgages, second mortgages generally require a FICO® score of 620 or higher, although some lenders may offer some flexibility. Either way, the higher your FICO score, the better your chances of getting a lower interest rate.

Additionally, many lenders only allow you to borrow up to a combined loan-to-value ratio (CLTV) of 80%, which means your primary and secondary mortgage balances cannot exceed 80% of value. of your house. But again, some lenders may be more flexible than others, and you may be able to borrow up to 100% CLTV.

In addition to your credit history and the value of your home, lenders will also consider your debt to income ratio (DTI), which is the percentage of your gross monthly income that is allocated to repaying your debts. DTI requirements may vary by lender, but you can generally expect a limit of 43%.

Before applying for a home equity loan or HELOC, check your FICO® scores and review your credit reports to determine if you need to make improvements first. Next, calculate your DTI and home equity to determine your chances of approval.

If you have questions about eligibility, consider contacting individual lenders to learn more.

Whatever you do, it is essential that you take the time to determine if a home equity loan or HELOC is financially feasible for you and if you can use the debt to improve your financial situation and credit history over time. .

About myFICO

myFICO is the consumer division of FICO. For more information, visit https://www.myfico.com/credit-education

Contact myFICO:

Elizabeth Warren

[email protected]

Source: myFICO

A 16-year victory for a group of student borrowers


Angela Powell married her college sweetheart – but since her divorce in 2014 the relationship has been tenuous. So when she learned that Congress was about to allow her to separate her student loans from hers, after years of carrying her debt as well as her own, she couldn’t contain her excitement.

“It’s almost unbelievable,” Powell says. “It’s going to change lives, and it’s going to change people’s outlook on hope, and especially mine.”

The bill in question, the Joint Consolidation Loan Separation Act, which President Biden is expected to sign this week, fills a loophole created in the 1990s when Congress began allowing married couples to consolidate their student loans at a rate of lower interest. It seemed like a good idea at the time – a way for couples to save money on their loans and have one monthly payment. Congress shut down the program in 2006, but never managed to separate the loans.

Sixteen years later, around 14,000 borrowers are still shackled to each other – even after divorce, according to an NPR survey. In some cases, borrowers are held responsible for a debt related to an abusive ex-spouse, forced to choose between paying a debt that is not theirs or emptying their credit while waiting for a solution.

Powell’s ex-spouse hasn’t made regular payments on their loans since 2016, despite holding almost double the amount of debt when consolidating, which left him with a monthly payment of 1,942 $.50.

Other borrowers, like Patrick Stebly, divorced out of court but had to create a court agreement to handle payments each month. He has been working for more than a decade to close the joint consolidation loophole.

“It’s been such a fight all these years,” Stebly said. He cried when he heard the news. “I’m thrilled about that, you know, finally, finally, finally fixed.”

The new legislation will allow borrowers with joint consolidation loans to split them proportionately based on their original loan amount.

Borrowers should contact the US Department of Education, which will require both parties to the loan to sign a form separating the debts. However, if a borrower can prove that he was a victim of domestic violence or economic exploitation by his ex-partner, or if he is unable to reach his ex-partner, he can initiate the separation himself.

For many, the Joint Consolidation Loan Separation Act will also pave the way for their loans to be forgiven under the federal government’s Public Service Loan Forgiveness (PSLF) program.

Bill passed with bipartisan support

The legislation was championed by Sen. Mark Warner, D-Va., and House Rep. David Price, DN.C. Although introduced by Democrats, the bill passed unanimously in the Senate and with bipartisan support in the House – where 14 Republicans broke ranks to help push the measure through.

When the bill passed, lawyers and borrowers cheered from the upstairs balcony of the house, including Chris Alldredge, who consolidated his loans with those of his wife in 2005. At the time, the couple were unaware that the consolidation disqualified them from the PSLF, which promises debt relief to federal borrowers who spend 10 years in a public service job, such as teaching or fighting fires.

They have been working for years to separate their debts.

“I watched that hammer lift and I knew in that exact moment that everything that had happened over the past 16 years and everything our group had worked feverishly over the past eight months or so was finally coming to an end. come to a climax,” Alldredge said.

Alldredge and his wife help run a Facebook group with more than 700 members who have shared their joint loan consolidation stories with lawmakers. Their representative, Trey Hollingsworth, was one of the Republicans who walked down the aisle and signed the bill.

New law expected to pave way for civil service loans to be canceled

Cynthia Malone is a licensed clinical social worker with the Office of the Public Defender in Columbia, Missouri. She is married to a probation officer and between them they worked decades in the civil service.

Like Alldredge, when Malone and her husband consolidated their student loans for a better interest rate, little did they know they were losing the ability to get their debt forgiven through PSLF.

Malone says the hardest part of their situation is watching co-workers with the same experience — but not spousal consolidation — have their debts forgiven.

“We just resigned ourselves to paying,” she says. “While many of our colleagues were relieved by the PSLF.”

She felt left behind because of a choice they made long ago at the request of their loan officer.

Today, Malone and her husband still have a total of $110,000 in student loans. She is optimistic that the new legislation will allow them to have their loans canceled through the PSLF.

“I’m thrilled! Just over the moon. I’m so, so, so happy,” she said.

But, unfortunately, experts are less optimistic. This is because PSLF comes with its own complications. The struggling program has been plagued by mismanagement, and last year the Biden administration created a temporary waiver to make it easier for borrowers to qualify. This waiver expires at the end of October, giving borrowers who will benefit from the Joint Consolidation Loan Separation Act little time to separate their consolidated debts, then convert their loans to direct federal student loans, and then apply for the PSLF waiver.

Abby Shafroth, director of the Student Loan Borrower Relief Project, has worked with borrowers trying to claim the PSLF under the current waiver. She says she is worried about the timing of this new legislation.

“My biggest concern is whether [the Education Department] will even have a process in place for borrowers to split their loans before the October 31 deadline,” she says.

At the time of publication, the Education Department had no response to repeated requests from NPR about whether this group of borrowers will be processed in time to apply for the PSLF waiver.

Bryce McKibben, senior director of the Hope Center for College, Community, and Justice, says these borrowers are stuck in a sort of “purgatory” while they wait for the Department of Education to figure out next steps — which may take some time. .

“I guess this process takes at least a month or two from the time they make an app available.”

McKibben says that due to the timing of the legislation, the department may choose to make a special extension for these borrowers or establish a single-track application from separation to the PSLF review.

“It would be a policy change that I think would be entirely within [the Education Department’s] discretion,” McKibben says. “All of these timelines here are all arbitrary anyway.”

The Department of Education also quietly changed its website on Thursday to exclude certain private loans from its one-time debt relief program. It is unclear whether joint consolidation loans fall into this category.

In a statement to NPR, the department said it will “continue to explore other legally available options to provide relief” to excluded borrowers.

Copyright 2022 NPR. To learn more, visit https://www.npr.org.

M&T Bank reports 325 CT layoffs, plans to cut 333 more jobs


BRIDGEPORT — M&T Bank has laid off 325 employees in Connecticut as part of its acquisition of People’s United Bank, as it plans to cut another 333 positions and hire for about 350 more jobs, the closely watched company revealed in a letter this week to the state attorney. General Guillaume Tong.

The letter, which responds to questions posed by Tong in a Sept. 14 letter to the bank, is one of the most comprehensive updates that M&T, headquartered in Buffalo, New York, provided on its workforce in Connecticut since announcing in July 2021 that, as a result of the $8.3 billion acquisition, it planned to lay off 747 employees in the state, including about 660 based in the People’s United hometown of Bridgeport. When initially announced, the layoffs were condemned by many elected officials, including Tong, who also sent a related letter to M&T in August 2021.

In total, there are 2,373 people employed by M&T in Connecticut, including the 333 who are about to lose their jobs.

“Since we announced our intention to merge with People’s United and named the city of Bridgeport our regional headquarters, we have intended to maintain a significant number of jobs in the city,” said Michael Keegan, vice president M&T Executive and Head of Community Markets. the letter, which was obtained by Hearst Connecticut Media. “For those who may be affected, we have given each employee significant notice and an understanding of the benefits that will be provided to them.”

Responding to an inquiry from Hearst about his reaction to the jobs numbers included in the letter, Tong reiterated in a statement Friday his concerns about the impact of the acquisition on Connecticut-based employees.

“These numbers are disappointing,” Tong said. “Pledges have been made to our state and to the M&T workforce in Connecticut, and I don’t think these numbers live up to that promise, both in terms of the total number of retained workers I think M&T CEO Rene Jones needs to come to Connecticut — to Bridgeport, specifically — to address these issues. I asked for this meeting, and I hope it can be scheduled soon.”

Of the 325 people whose jobs were laid off after the July 2021 announcement, 110 “left on their own, before their jobs were cut,” according to Keegan. The letter did not specify the location of the offices of the terminated employees.

M&T said it would offer laid-off employees benefits ranging from a minimum of 12 weeks’ pay to a maximum of 104 weeks’ pay, depending on seniority.

The remaining 422 employees who were notified of the layoff in July 2021 were still employed by M&T as of the Sept. 26 date of the letter, according to Keegan. Those 422 employees include, however, 333 who “have dates in the future when the job is to be released,” Keegan said. The letter did not specify these dates.

M&T’s layoffs appear to be focused on employees based in offices that don’t serve customers. The letter said the bank would “retain all customer-facing employees at retail branches, including traditional branch employees and Stop and Shop store employees.”

At the same time, 89 of the remaining 422 employees “have been hired into permanent positions at M&T,” Keegan said.

The Connecticut contingent includes 1,117 people based in Bridgeport, “including the Bridgeport Center and our branches,” Keegan said. Bridgeport Center refers to the office tower in downtown Bridgeport, at 850 Main St., which houses the regional headquarters and also served as the base of People’s United.

“Beginning in the summer of 2021, we also met with Bridgeport and Connecticut state officials to discuss the impact of the merger on the community,” Keegan said. “Based on valuable input from local leaders, we are committed to having at least 1,000 employees based out of our regional headquarters in Bridgeport within the first 12 months of conversion. This makes us the largest non-hospital employer of Bridgeport.

As part of its efforts to achieve this goal, M&T held both in-person and virtual job fairs in August, while another job fair is scheduled for October 25 at the Bridgeport Center.

M&T has 346 openings, in many counties, in Connecticut. It has more than 1,000 other openings across its entire footprint “that are not geographically dependent and available to Connecticut residents,” Keegan said.

Employees who worked at People’s United would receive “priority consideration” for open positions, according to M&T officials.
Keegan also responded to a question from Tong about his office hearing complaints that some employees retained by M&T had been “pushed into lower paying positions”.

“This information is inaccurate,” Keegan said. “Nineteen Connecticut employees were offered and subsequently accepted positions deemed not comparable to their positions at People’s United, where the salary offered was lower than the salary of the position they previously held. All of these employees had the option of receiving their severance package or accepting the non-comparable position. These employees have elected to remain with M&T. »

In addition to his criticism of the layoffs, Tong sharply criticized M&T for its handling of this month’s conversion of People’s United accounts to M&T accounts. The change angered and upset many customers who had difficulty accessing accounts or making payments.

“I’ve said it before, and I’ll say it again: I want M&T to succeed. I want this merger to work. We have a lot of work to do to make it happen,” said Tong, a Democrat who is in the running. running for re-election this year, added in his statement. “To date, my office has received over 200 complaints about the merger, and we are meeting daily with M&T to resolve these issues. These complaints continue to arrive daily. I will stay informed until these issues are resolved. I know that M&T also wants these issues resolved.

As noted in Keegan’s letter, M&T officials acknowledged that many customers had encountered problems. In response, M&T said it had begun reimbursing customers who incurred late payment charges for credit cards, utilities or other transactions. Additionally, until the end of October, M&T is waiving consumer checking and savings fees and not assessing late fees for consumer loan and mortgage payments.

“We realize that many customers had an experience that was not up to our standards,” Keegan said. “We intend to reach out and apologize to each of them.”

A number of other elected officials are also closely monitoring the impact of the acquisition. Among them, Sen. Richard Blumenthal, D-Connecticut, called on the Federal Reserve and the Consumer Financial Protection Bureau to investigate the account issues. On Thursday, Blumenthal and his four Senate colleagues from Massachusetts and Vermont said M&T’s compensation for affected customers was a “welcome step toward making things better.”

[email protected]; twitter: @paulschott

Water, sewer and trash hikes in Schenectady’s budget proposal


SCHENECTADY — Property taxes will remain stable, but homeowners will pay more in water, sewer and waste charges under a preliminary spending plan of about $104 million that Mayor Gary McCarthy has outlined as a ‘stability budget’.

Its draft budget for 2023 is based on $5.8 million in federal COVID relief funds or American Rescue Plan Act (ARPA) funds and surpluses.

The tax levy or the amount to be levied by taxes is $31.6 million, about the same amount as in the current budget.

The mayor, during his address Friday at City Hall to reporters and department heads, discussed several construction projects, in many cases multimillion-dollar, including the development of the former elementary school Elmer and the complete transformation of Yates Village, now known as North Side Village and a structure on State Street being converted into the Ortho New York Medical Facility.

As a result of these and other projects, he said Schenectady has generated more than $1 million in permit fees so far this year.

“If you look at the economic development that is continuing today, we are bouncing back from the disruption caused by COVID,” the mayor said. This building boom, McCarthy said, is also extending to parks and city neighborhoods.

Garbage collection will increase to $52 per year
Sewer rates will increase to $25.24 per year
Water rates will increase to $12.97 per year

Source: City of Schenectady

He highlighted plans for a new swimming pool and other improvements to Central Park’s tennis courts and baseball diamonds, as well as other improvements planned for Hillhurst, Jerry Burrell and Riverside parks.

He said the city continues to be plagued by struggling properties.

“We are now beginning our foreclosure process again, and in this budget I am including $2.75 million in income from home sales … but there are a large number of homeowners in the city who are not paying their taxes. “, did he declare. , adding that many foreclosures involve people who were not paying their taxes even before the effect of the pandemic on some people’s finances.

Council President Marion Porterfield said Friday after the mayor’s presentation that she still needed to take a closer look at the budget before commenting on it. She and her fellow councilors must, by state law, pass the budget by Nov. 1.

But before that, the panel must meet with department heads and review the spending plan before discussing any revisions.

Porterfield said as of Friday afternoon, Councilman John Mootooveren, chairman of the finance committee, was still working to set meeting dates.

Meanwhile, Schenectady County Executive Rory Fluman released his proposed $377.9 million budget on Friday ahead of its official Monday night presentation to county lawmakers. The financial plan for next year also calls for property taxes to remain the same.

Programmable private money problem | PYMNTS.com


Programmable money has become one of the latest buzzwords as people talk about the rise of cryptocurrencies that are actually used for payments – like privately issued stablecoins – or currencies. central bank numerals like a digital dollar or euro.

But in reality, the technology really boils down to something that the crypto and blockchain industry has been talking about for several years: smart contracts.

They can be incredibly useful when it comes to payments, with potential uses as broad as automating payroll or paying collision claims as soon as fault has been determined – or even immediately on a no-fault policy.

Decentralized finance, or DeFi, is built around techniques like this, such as issuing a loan when collateral is locked in an account, then liquidating that collateral when its value reaches a certain level. The same could apply to a credit and income-based auto loan: meet the terms and it’s approved. Miss a certain number of payments and your car will be repossessed. Bring the Internet of Things into the equation and a self-driving car could go straight to the dealership.

Which raises an inevitable question: how much of this can’t be done by existing systems?

Well, the part about the contracts – the programs – being written on an immutable blockchain. Once it’s agreed, it can’t be changed, which has advantages – no chargebacks, for example – but also disadvantages. Write a bad contract and the funds are blocked forever.

Public vs. Private

Things become more difficult when the “money” part of programmable currency is legal tender, such as a digital yuan or digital dollar. This is why the privacy offered to users is becoming an increasingly important issue. Part of that is tracking what the consumer does with their money – but between debit and credit cards and marketing databases, privacy laws and regulations are all that controls what companies private or government agencies know about you.

But this level of control still requires mandates and cooperation from banks and corporations. If programmable money is issued directly by a government rather than through banks and financial institutions, it’s reasonable to fear that it won’t need warrants or cooperation if it really wants to watch. Programmable Money could be programmed to signal how it’s being used, or shut off if it enters a certain digital wallet.

Libertarian-oriented crypto industry participants at the Canadian truck convoy protests earlier this year were alerted to a big problem: crypto exchange executives at companies like Coinbase and Kraken warned customers that if they were to freeze funds – like banks – they would, suggesting that anyone affected take their pseudonymous bitcoins and other tokens into private digital wallets.

And as for the restrictions – well, gift cards that limit what you can or can’t buy have been around for over a decade. Some rewards cards can only be used for travel – airlines, hotels, luggage purchases, restaurants.

As stablecoin issuers like Tether (USDT) and Circle (USDC) have demonstrated in token hacks, they can simply freeze coins at any time. And again, with a government-issued, blockchain-based CBDC, the fundamental difference is that by design the government wouldn’t need to go through the courts or corporations – technically, though probably not. legally.

Which goes back to the main objective of the anonymous designer of bitcoin integrated into the first cryptocurrency: the absence of trust. This means that peer-to-peer payments are possible without the need for the trust provided by a third party like a bank.

But the thing about programmable money is that you have to trust the programmer, whether public or private.

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New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

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Borrow better than buy; consult the lending library


Did you know that Rotary Auction staff can use up to 600 forks in a day? That’s why they’re partnering with the Zero Waste Tableware Lending Library to borrow cutlery to reduce waste while feeding 300 volunteers a day.

Volunteers Diane Landry, manager, and Jane Martin, head librarian, manage the extensive inventory of colorful linens, glassware, flatware, crockery and a collection of zero waste lending library event items that are available free to the community through the Sustainable Bainbridge Zero Waste program.

It all started about 15 years ago when one of Landry’s friends was getting married and she discovered that it costs more to rent tablecloths than to buy them at Walmart. “So the wedding happened, then the tablecloths were stored at my house, then the Cedars Unitarian Church borrowed them for an auction, and then Yes Magazine said, ‘Oh, I heard you had tablecloths, could we borrow them?”

Because more tablecloths were purchased to match those borrowed, more were returned. And so on. “The bins got bigger and bigger” and more and more tablecloths were piling up at Landry’s because people were borrowing and giving back more than they borrowed.

When Landry volunteered during the rotating auction prep week, she didn’t want single-use plastic utensils to be used. “We started using metal utensils from Rotary’s kitchen department to serve 300 people twice a day.” Then it is used for Rotary Preparation Week. “The idea is to reuse, wash and reuse rather than using single-use plastic cutlery,” Landry said.

One year, Landry calculated that 10,000 utensils were loaned from the library and saved a lot of waste from the landfill.

The library does not buy new items, practicing its credo, “reuse is better by creating less waste”. Many of their acquisitions come from donations. They are always on the lookout for dessert and salad bowls, dessert and dinner plates. There are vintage red dishes in the collection, perfect for a holiday dinner or a private party.

With a spreadsheet, volunteers manage inventory which has 97 events booked this year for nonprofit and private gatherings ranging from weddings to book launches, a magazine party, fundraisers, a memorial service and a chili contest.

The system operates on a ‘first come, first served’ basis and all items must be cleaned before returning.

People can save a lot of money by using this service. For example, buying linens for eight guests per table would require 14 tablecloths and about 112 napkins for an average-sized wedding. Rental costs can vary, but a basic white table linen from a Seattle company starts at $14 with matching napkins up to $2 each, meaning a couple could spend upwards of $375. just for linens.

After 15 years of service at the lending library, Landry loves his job because people appreciate him so much. “All of these things celebrated lives, raised funds and honored people.”

The CBA has satisfied the obligations of enforceable undertaking of prudential investigation


The Commonwealth Bank of Australia (CBA) acknowledges APRA’s announcement regarding the prudential investigation.

Following CBA’s compliance with its obligations under the Enforceable Undertaking (EU), the remaining operational risk capital surplus of $500 million imposed on CBA is released effective September 30, 2022. This represents an increase Common Equity Tier 1 capital of 15 basis points.

Commonwealth Bank Chief Executive Matt Comyn said: “We are committed to ensuring that the improvements we have made to our governance, culture and risk management practices are continuously improved and sustained.

The release of Operational Risk Capital follows the completion of the CBA’s Corrective Action Plan (RAP) in September 2021, further validation work undertaken by APRA and satisfactory final assessments by the examiner independent.

Important Information

  • On April 30, 2018, Commonwealth Bank of Australia entered into an enforceable undertaking (EU) with APRA. On May 1, 2018, the APRA published its final report of the CBA’s prudential investigation.
  • On June 29, 2018, the CBA RAP was approved by APRA.
  • On November 20, 2020, APRA reduced the operational risk capital imposed on the CBA from $1 billion to $500 million in response to significant progress. The ABC completed its corrective action plan on September 30, 2021.
  • Following further validation work and satisfactory final evaluations, the remaining $500 million in operational risk capital is released.
  • The independent reviewer said:
    • There is now clear and committed leadership at the highest level in the management of non-financial risks.
    • The evolution of the ABC’s thinking about client outcomes has been nothing short of transformative.
    • There’s a much clearer and stronger focus on ensuring good results for clients and the “should we?” question has become part of the Group’s daily conversations.
    • Challenge is not only a constant feature of meetings and forums, it is welcome.

2 pros and cons of buying a foreclosed home


Image source: Getty Images

Is a foreclosure property right for you? Or should you stay away?

Key points

  • Buying a foreclosure is an option you might consider in a tight housing market.
  • There are pros and cons to consider before going this route.
  • You can save money on the purchase price, but then spend a lot more to restore it to livable condition.

Although housing inventory has opened up to the real estate market, there are still not enough properties available for sale to meet buyer demand. If you’ve been looking for a home for months and haven’t been successful yet, you may be about to consider buying a foreclosed home.

When you buy a foreclosure, you are actually buying a house that a bank or lender has repossessed because the owner stopped making payments on their mortgage. While there are advantages to buying a foreclosure, there are also a few key disadvantages you should be aware of. Let’s review.

Advantage #1: A lower purchase price

Some seizures are in better shape than others. But often when you buy a foreclosure, you get a house that’s not in the best condition. In some cases, this can mean that the house needs a lot of cosmetic work. In other cases, it may mean that the house needs serious repairs.

For this reason, you will generally pay much less for a foreclosure than for a standard home.

Advantage #2: A chance to put your own stamp on a house

Foreclosed homes often need work, but that’s not necessarily a bad thing. You may have certain design ideas that you want to bring to fruition. It’s harder to justify tearing down a pristine home to put your own stamp on it. But if you’re buying a house that’s in bad shape to begin with, it’s much easier to argue for a full renovation.

Con #1: You don’t know how much repair work you’re undertaking

Homeowners who lose their properties to foreclosure often get to this point because they have fallen on hard financial times. As such, foreclosed homes are often seriously neglected before being taken away from their owners. As a buyer of such a home, you take a big risk of having to spend more than expected on repairs.

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Keep in mind that with a regular home, you can often negotiate a discount on the purchase price if any issues are discovered during a home inspection. Foreclosed homes are often sold as is, so you can’t negotiate your way to a lower price despite the risks you take.

Cons #2: You may have a harder time getting a mortgage

Some people who buy foreclosed homes do so with cash. This is especially the case if the buyer is an investor looking to flip the house. But if you need to finance a home purchase with a mortgage, you might find it harder than usual to get approved. If the house is in really dire condition, a mortgage lender may be hesitant to provide a loan, even if you’re an otherwise solid borrower with strong credit.

Should you buy a foreclosure?

Buying a foreclosure can be a bit of a gamble. And if you go that route, you’ll really want to make sure you get a low purchase price so you have plenty of money left over to invest in that home if needed. But you may find that buying a foreclosure gives you a chance to own and renovate a property to suit your personal needs and tastes.

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Amuru Officials Turn to Money Lenders to Repay Stolen PDM Money


Four local government officials in Amuru District reportedly turned to moneylenders to repay funds they misappropriated under the Parish Development Model (PDM) scheme.

Earlier this month, Amuru District Administrative Manager (CAO), Thomson Obong, ordered officials to return Shs. 113 million they had embezzled to themselves.

Officials include the district planner, production manager, district service commission secretary, and district business manager.

Information obtained from the CAO office indicates that officials deducted Shs1.9 million from the funds to be disbursed as working capital to each of the 58 Sacco groups in the district.

Mr Obong told the Daily Monitor in an interview on Monday that the accused had been integrated into the district’s PDM supervision and implementation team.

He said the four placed their land titles as collateral to secure loans from banks before the deadline.

Mr Obong said some lenders had contacted the district to confirm staff.

“My district staff are now running to moneylenders, others are placing their land titles as collateral so they can borrow money to pay us back,” he said.

He also said that on Monday officials were jointly left with 8.5 million shillings.

When contacted for comment, the production agent and sales agent declined to comment on the matter.

They referred this reporter to the CAO who they say is speaking on their behalf.

According to data recently released by the PDM secretariat on districts that mishandled PDM funds, Amuru received a total of 412.1 million shillings.

He shelled out 298.2 million shillings while 113.8 million shillings are missing.

The district used part of the funds to recruit parish leaders, train and train parish committees and Saccos. Other funds were used to buy tools and gadgets as well as to manage administrative costs.

Available data indicates that while Amuru lost Shs 113 million, Nwoya lost Shs 208.5 million out of the Shs 312.6 million he received.

Of the Shs 831.3 million Agago received, Shs 49.4 million was lost, of the Shs 511.6 million Kitgum received, he lost Shs 417 million and Gulu lost 9, 5 million Shs out of the 333.9 million Shs he received.

Relief for borrowers as Safaricom, KCB and NCBA cut Fuliza fees by 40%

  • In the latest review, the company reduced daily charges on loans of up to KShs 1,000 from KShs 10 to KShs 6, effective October 1.
  • Loans below KSh 500, on the other hand, will incur a daily charge of KSh 3 instead of KSh 5, which would be sweet music for borrowers.
  • Between April 2021 and April 2022, Fuliza’s daily income reached KSh 1.37 billion, showing that Kenyans rely on costly short-term debt

Kenyan borrowers have a reason to smile after giant telecom company Safaricom, in partnership with local lenders KCB and NCBA, cut daily charges for loans below KSh 1,000 by 40%.

The telephone company also introduced a three-day grace period.

In the latest review, the company reduced daily charges on loans of up to KShs 1,000 from KShs 10 to KShs 6, effective October 1.

Read also

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“Additionally, customers who withdraw KShs 1,000 and below will be granted a daily maintenance fee waiver for the first three days. The discounted rate will take effect from Saturday, October 1, 2022,” he said.

However, the company retained the access right of 1% on all borrowings.

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Loans below KSh 500, on the other hand, will incur a daily charge of KSh 3 instead of KSh 5.

Over the past three years, the overdraft facility introduced in 2019 has gained popularity among Kenyans, especially those on low incomes.

Kenyans Fuliza KSh 1.4 billion a day

Between April 2021 and April 2022, Fuliza’s daily income reached KSh 1.37 billion, showing that Kenyans rely on costly short-term debt.

Fuliza disbursed loans amounting to Kshs.502.6 billion against Kshs.351.2 billion issued the previous year, representing a growth of 43.1%.

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The growth was also reciprocal in the number of subscribers, which jumped to 6.9 million from 5.9 million borrowers.

M-Shwari loans fell from KShs 94.5 billion to KShs 86.1 billion, while KCB M-Pesa loans were reduced to KShs 46.3 billion from KShs 51.1 billion the previous year.

Safaricom’s revenue from disbursement of Fuliza amounted to KShs 5.9 billion during the same reporting period, compared to KShs 4.5 billion the previous year. This represents a growth of 31%.

Fuliza refund

Fuliza’s repayments during the year amounted to KShs. 510.3 billion, or 101.5%, compared to 98.4% the previous year.

During the period, the service charged a 1% access fee and maintenance fee on the outstanding balance ranging from KShs 6 to KShs 36 depending on the loan amount.

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Source: TUKO.co.ke

Local News: Former Sikeston Legion bartender pleads guilty, receives probation and is due restitution (9/27/22)


NEW MADRID, Mo. — A former bartender accused of stealing more than $100,000 from a local American Legion organization has pleaded guilty nearly three years after he was first charged with the crime.

Gary M. Prindle, 89, of Sikeston, who was charged by Scott County in December 2019 with one count of stealing $25,000 or more on or about February 11, 2019, withdrew his initial plea of ​​”not guilty” and pleaded guilty. “guilty” on September 13 before 34th Circuit Judge William Edward Reeves in New Madrid County.

Previously, a jury trial was scheduled for September 15-16 in New Madrid County for a change of venue.

With his guilty plea on September 13, Prindle was granted a suspended sentence and placed on supervised probation for five years. He was also ordered to return $97,379.05 in full with an initial payment of $20,000 and then $150 each month thereafter, according to online court records.

Prindle is a former bartender at American Legion Post 114 in Sikeston.

Frankie Adams, commander of American Legion Post 114, said the Legion is grateful to the justice system.

“Our veterans and our local community were the victims of crime,” Adams said after the sentencing. “It’s a bittersweet moment.

He continued: “The audacity of someone who was left in charge of running things for the organization would turn their backs on them and rob us. He was given carte blanche to operate the club room and use it for the good of the members. Our trust has been misplaced by greed and addiction – addiction to gambling to use the machines as often as he does.

On Monday, Adams said the Legion was trying to get over the “hard hit” to finances and membership.

“It hurts mentally to find out that our trust has been abused,” Adams said. “Gary abused and manipulated the system and the members. It also had a financial impact on the community.

The Legion could not finance as many projects as it could have and could not expand its property by obtaining building materials and labor locally, according to Adams.

“Now we have the opportunity to move forward and rebuild our trust with the members,” Adams said. “We have a financial report open every month and we can pull any report daily to verify the transaction.”

According to the probable cause statement previously provided by Scott County District Attorney Amanda Oesch’s office, on February 11, 2019, representatives of American Legion Station 114 in Sikeston reported a theft to the Sikeston Department of Public Safety. Then-CFO James Walton and Legion Commander Larry Roach met with DPS Detective Flint Dees.

During his tenure, Walton said he was reviewing the company’s sales records in October 2018, specifically the company’s four Missouri Pull Tab lottery machines, according to the probable cause statement. Walton noticed a large discrepancy in sales totals and funds deposited in the company’s bank in Sikeston, according to the probable cause statement. Walton said he contacted the Missouri Lottery Commission to help figure out how to view and use lottery reports to determine the shortage. Lottery officials agreed that a major shortage had occurred.

Walton said he passed information to the company’s certified public accountant. The accountant prepared a report for the years 2017 and 2018 showing the following stolen funds: 2017 loss on Lottery Pull Tab bank deposits of $69,079.22 and 2018 loss on Lottery Pull Tab bank deposits of $43,218.83 for a total of $112,298.05, according to the probable statement of cause.

In the probable cause statement, Walton explained that the stolen money was collected during play by the four Missouri Lottery electronic pull-tab machines located inside the bar’s members-only area. The stolen money was withdrawn from the machines and was never deposited into the specific bank account for these funds in 2017 and 2018, he said.

According to the probable cause statement, the Missouri Lottery Commission is withdrawing the amount of money owed to it from electronic sales from the Legion’s bank account. The amount that remains after the withdrawal is the profit of the American Legion. A shortage in this account is how Walton and Roach said they were alerted to the problem and began the investigation.

Pull-bar machines pay out 90% of the money played; of the remaining 10%, the Lottery Commissioners retain 80% and the American Legion Post retains the remaining 20%. Any missing funds were taken from the 20% of the American Legion, based on probable cause.

Gaming machines track every transaction made on the machines with an exact timestamp, but not limited to: all player transactions, including money placed in the machine, losses, winnings, bet amounts, game balance, the voucher created to redeem balance credit, etc.; and all employee transactions, including opening the base door to access the ticket roll, opening the cash register to access played money, and deposit notes withdrawn from the cash register by employees , etc.

The duty of the bar manager is to empty the four tills of the machines and make the bank deposit. Money withdrawn from lottery machines is counted, the Missouri Lottery terminal/register is then updated to the standard opening operating balance.

Prindle was the Legion bar manager for nearly eight years, specifically throughout 2017 and until October 2018 when he stepped down. Prindle did morning housekeeping chores six days a week and the other bartender did those chores for him on Sunday mornings because it was his normally scheduled day off, probable cause said.

Prindle managed three bartenders who had limited access to pull tab machines, the lottery register and deposits.

“It was common knowledge to everyone I spoke to that Mr. Prindle came to work early every morning and played tab machines before bar opening time,” Dees said in his statement of probable cause. . “Members knew that Mr. Prindle did this frequently, and it was a very common complaint from other members to bartenders.”

In reviewing the cashier’s pay reports, consistently during the morning shift before opening when Prindle was working, the cash registers of the machines were opened and emptied more than once, Dees said in her statement of probable cause. This is called “additional extraction” of the boxes and is not necessary. The only justification for opening the piggy banks was after the bar had opened and the money was needed to replenish the lottery terminal/register used to pay for winning tickets, he said.

When reviewing full transaction reports for 2018, a day in each month was detailed on which a known shortage occurred, Dees said in his probable cause statement. On all these dates, the tills of the machines were opened more than once before the opening time of the bar.

It is noted by the transaction report that not every day – but routinely in the morning – money would be withdrawn from the cash registers of the machines, then quickly money would be put into the machines to play, then the money would be at again removed from the machine that had just been played, stealing this money, said probable cause.

On several other occasions, money is placed in a machine creating credit – without betting or playing – and a credit voucher is requested by the player for the exact amount, and a winning ticket/voucher is printed. The till was then opened and the money which had just been entered was removed from the till again, thus stealing the money from the till and also stealing the money with the printed voucher when it was cashed. All of these instances occurred while Prindle was at work and doing morning chores, Dees’ probable cause statement said.

All three bartenders denied any involvement in the theft or knowing how or who carried out the theft, the detective said. They said it was normal practice for Prindle to lend and allow them to lend money to certain members of the Missouri Lottery Registry to play drawstring machines. In doing so, they said they were advised to place a note in the drawer stating the member’s name and the amount of the loan. This lent money would be repaid by the member within days, then placed in an envelope with the debtor’s name and Prindle’s name on the outside of the envelope. The bartenders told Dees that they only knew that the envelope had been placed in the ledger and did not know how that money was accounted for, but they would not put it in their ledger total. They all found the activity suspicious, but said they were only doing what their supervisor told them.

‘I spoke with Mr Prindle, and he told me he did not believe the money was missing and it was an accounting error,’ Dees said in his statement. of probable cause. “Mr Prindle offered no other possibility and gave no advice as to what I should investigate to find the missing funds.

Since Prindle’s resignation, revenue from pull machines has increased significantly, according to the probable cause statement. A warrant for Prindle’s arrest was issued on December 27, 2019 and served on January 2, 2020, according to online court records.

Randolph County Court News | New


Jump Rope Company seeks High Court ruling on CAFC’s approach to collateral estoppel for PTAB invalidations


“Metz and company were never permitted to have their patent infringement claims heard by an Article III court or federal jury…. due to the ingrained and oft-repeated misapplication by the Federal Circuit of the doctrine of collateral estoppel. – Jump Rope Systems Petition

The inventor of a new jump rope system (the Rope Revolution), Molly Metz, is asking the United States Supreme Court through her company, Jump Rope Systems, LLC, for clarification of the doctrine of collateral estoppel as applied by the Court of United States Appeal for the Federal Circuit (CAFC) to restrain a patent infringement action. in district court where the CAFC upheld a decision of the Patent Trial and Appeal Board (PTAB) of non-patentability. Jump Rope Systems argues that the CAFC’s decision in XY, LLC vs. Trans Ova Genetics, LC (2018) contradicts Supreme Court decisions in B&B Hardware, Inc. vs. Hargis Indus., 575 US 138 (2015); Medtronic, Inc. v. Mirowski Family Ventures, LLC, 571 US 191 (2014); and Grogan vs. Garner498 US 279 (1991).

The petition specifically asks the High Court to consider the following question:

“If, under federal patent law, a determination of non-patentability by the Patent Trial and Appeal Board in an inter partes review proceeding, upheld by the Federal Circuit, has a collateral estoppel effect on the validity of the patent in a patent infringement action at the federal level. district court.”

Metz told his patent infringement story and his experience with the PTAB to IPWatchdog in June of this year. After filing a patent infringement lawsuit against Rogue Fitness in 2018 for infringement of its patents (U.S. 7 789 809 B2 and U.S 8,136.208 B2) for a unique jump rope grip technology, Rogue filed a motion for inter partes review (IPR) and the PTAB ultimately invalidated the patents. After an initial appeal to the Federal Circuit, Metz received a summary confirmation of Rule 36 of the PTAB’s decision.

In April 2022, following a consent judgment by the District Court, Jump Rope Systems requested an initial hearing bench asking the CAFC to reverse its own decision by XY, LLC vs. Trans Ova Genetics, LC (2018), arguing that exclusive effect cannot be given to invalidity determinations issued by the PTAB because XY conflicts with decisions of the United States Supreme Court on the doctrine of collateral estoppel. However, the CAFC denied this request without explanation. Jump Rope Systems then filed an unopposed motion for summary affirmation of the district court’s judgment acknowledging that XY, LLC estopped its appeal, and on June 28, 2022, a three-judge panel of the Federal Circuit granted that motion.

In its petition, Jump Rope Systems argues that “Metz and company were never permitted to have their patent infringement claims heard by an Article III court or federal jury…. due to the ingrained and oft-repeated misapplication by the Federal Circuit of the doctrine of collateral estoppel from XY, LLC vs. Trans Ova Genetics, LC.”

Newman understood

In XY SARL, the alleged infringer, Trans Ova Genetics, has appealed the district court’s dismissal of post-trial motions challenging a jury verdict that found XY’s patent claims covering the sorting of sperm carrying chromosomes. Instead of addressing Trans Ova Genetics’ invalidity arguments, the Federal Circuit spontaneously concluded that XY was incidentally precluded from asserting the validity of its patent claims, which were first invalidated in IPR proceedings before the PTAB, and then the invalidations upheld by the Federal Circuit.

Judge Pauline Newman wrote a dissent in XY SARL challenging the court’s majority decision on the disability issues in this case. Newman pointed out that there was no reciprocity of parties involved in the matter, as Trans Ova Genetics was not the petitioner challenging the validity of XY’s patent claims to the PTAB. Further, when considering exceptions to collateral estoppel under which matters are not excluded from relitigation, as provided in the (Second) reformulation of judgments §§ 28-29, Justice Newman found clear inconsistencies in the different burden of proof standards for validity issues applied to the PTAB, where validity determinations must be supported by “substantial evidence”, and the U.S. District Court validity decisions, which must be supported by “clear and compelling evidence.” Newman also raised questions of constitutional balance between administrative agencies and Article III courts. In September 2019, the Federal Circuit issued Chrimar Systems vs. FTA USAby applying the outfit XY SARL to invalidate patent claims that have been confirmed as valid by jury verdict and by post-trial motions.

“Judge Newman was clearly correct, and her dissenting opinion is fully supported by the decision of this Court in Grogan vs. Garner…,” says the Jump Rope petition. Grogan was a bankruptcy case that addressed the same issue of whether “a prior determination of a claim against a party requires the application of the prohibition of collateral estoppel where subsequent litigation involving the same party is governed by a standard of proof different from that applied in the previous decision.” The Supreme Court ultimately ruled:

“In this case, a creditor who has reduced their fraud claim to a valid and final judgment in a jurisdiction that requires proof of fraud by a preponderance of the evidence seeks to minimize further litigation by invoking collateral estoppel. If the standard of preponderance also governs the issue of non-discharge, a bankruptcy court could properly give effect of collateral estoppel to elements of the claim which are identical to the elements required for discharge and which were actually litigated and determined in the prior action. See Restatement (Second) of Judgments § 27 (1982). If, however, the clear and convincing standard applies to non-discharge, the earlier judgment could not be given the effect of collateral estoppel.

Jump Rope’s motion argues that the issue of collateral estoppel in Grogan is identical to that of XY, LLC, and that it is a bankruptcy proceeding rather than a patent infringement action is “a distinction without difference”. In a PTAB proceeding, a petitioner must prove obviousness by a preponderance of the evidence, while in a district court, invalidity must be proven by clear and convincing evidence. The petition notes that the Federal Circuit did not cite Grogan in its decision in XY, LLC.

Moreover, in B&B Hardware, Inc.., the Supreme Court stated that “the issues are not identical if the second action involves the application of a different legal standard, even though the factual background of the two actions may be the same”. And in Medtronic, Inc.. the Court explained that the “Restatement (Second) of Judgments [§ 28(4)] says that re-litigation of an issue (e.g., infringement) decided in one lawsuit “is not precluded” in a subsequent lawsuit where the burden of persuasion “has shifted” from the “party against whom exclusion is requested . . . of his opponent….’ Ultimately, these cases and the points raised in Judge Newman’s dissent support the conclusion that the PTAB’s determinations that Jump Rope’s claims are unpatentable were not subject to collateral estoppel in the patent infringement action in the District Court and the CAFC erred in finding that the PTAB’s decisions set aside Jump Rope’s patent infringement lawsuit.

A good candidate

The petition also argues that the case warrants the Court’s review because “[t]The issue of collateral estoppel raised in this case is of national significance in patent infringement litigation, as it affects countless patent litigation across the country. According to the motion, there are currently “427 pending appeals from the Federal Circuit that involve PTAB’s IPR/PGR proceedings” and “353 of those 427 pending appeals (more than 83%) have litigation pending in the courts of district where the same patents, challenged to PTAB, are claimed. These data are taken from PACER and cross-referenced with PTAB statistics collected by Unified patents.

The Jump Rope Systems case is an excellent vehicle for review because “the District Court and the Federal Circuit emphatically applied the doctrine of collateral estoppel, without any of the exceptions set forth in § 28(4) of the restatement, on the basis of the Federal Circuit’s decision in XY, LLC Jump Rope also petitioned the CAFC for en banc review and cited conflicting precedent, but “the full Federal Circuit summarily denied en banc review without any reason or dissent” .

Finally, the motion notes that, under the preponderance of the standard of proof, the respondent “convinced the PTAB to combine two pieces of prior art (patents known in the PTAB decision as ‘Wolf’ and “terper”)”. It wouldn’t have happened in the district court, Jump Rope explains:

“The PTAB found that such a combination yielded the claimed invention. But such PTAB reasoning occurred without it being found that ordinary craftsmen would have perceived a problem in the Wolf reference requiring a solution. The PTAB found rather considered a problem solved by the inventor and believed (in hindsight) that the same problem existed in Wolf’s prior art….Standard jury instructions in a trial in district court would warn the jury that hindsight cannot be used to combine the prior art in this manner under the clear and compelling standard.

At the end of the day, “[t]The inventor’s teachings should not be used against her to invalidate her patent,” the petition argues. And Snape would still have the ability to plead invalidity in an Article III tribunal depending on Jump Rope’s interpretation of the law.

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Public borrowing costs soar as markets punish Kwarteng


UK government borrowing costs soared above 4% for the first time in more than a decade as a historic rout in bond markets following the Kwasi Kwarteng mini-budget deepens.

Investors continued to dump Britain’s debt on Monday morning after spooked by the Chancellor’s plans to increase borrowing to pay for £45billion in tax cuts and growing expectations of rapid interest rate hikes interest of the Bank of England.

The benchmark 10-year gilt yield jumped 0.35 percentage points to a 12-year high of nearly 4.2% after the biggest increase on record on Friday. The two-year yield rose another 0.5 percentage points to 4.4%.

The huge jump in recent days will increase the cost of borrowing for the government at a time when it plans to sell an additional £72billion of gilts to pay for the tax cuts. The Chancellor refused on Sunday to bow to market pressure, signaling he wanted to make more tax cuts to boost growth.

Investors are growing increasingly concerned about the new riskier stance of UK fiscal policy, sending gilt yields soaring and triggering a fall in the pound to record lows.

Britain’s debt sell-off was fueled by market fears that the Bank of England might be forced to raise interest rates above 5% to combat the inflationary effects of Mr Kwarteng’s package. It comes as the Bank also plans to sell around £40bn of UK bonds bought in quantitative easing over the next 12 months.

City analysts have warned that the harsh market reaction to the mini-budget could force the Bank of England to make an emergency interest rate hike in the coming days to calm markets.

Paul Dales, UK economist at Capital Economics, said: “By advancing much of the policy tightening that might have taken place anyway, the Bank would demonstrate unequivocally that whatever the government does will ensure that inflation will return to 2% This would go a long way in mitigating the crisis.

“A common thread here is that across the board, the UK will face higher interest rates, lingering concerns over long-term fiscal sustainability and the gradual realization that a period of Tighter fiscal policy will be needed later.”

Fines are just one of many enforcement tools available to associations


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Dear Poliakoff,

You recently talked about condominium fines. So did I understand correctly? In a condominium, the maximum fine is $100 per violation, $1,000 maximum for a continuing violation, and no liens are allowed on the property. So basically violation, fines and therefore the rules of a condo are unenforceable and mean nothing if someone just wants to blow up the council as well as their neighbors.

Signed, BH

Dear Poliakoff,

The aggregate fine for a continued violation of the rules and documents for a single violation is $1,000 by state law. But then what? The violator pays their $1,000 and can pursue the violation without penalties or future consequences other than not being able to use the common areas “for a reasonable time?”

Signed, NG

Dear BH and NG,

Your questions are directly related, so I wanted to answer them together. BH, while you have the specific limits correct, but I think you’re looking at the rest too narrowly. And NG, paying a fine does not excuse the behavior.

It is true that, in a condominium, fines are limited to $100 per violation, up to $1,000 for a continuous violation, without the possibility of a lien on the unit for non-payment of the fine. But this does not mean at all that the fine is not collectible, it just means that only one collection tool (lien and foreclosure) is not available. The association can always sue the owner in Small Claims Court to collect a fine – we have done this on several occasions for clients. It could cost thousands in legal fees to go through the small claims process, and a judge might not reimburse 100% of those costs to the association if it wins, so it is possible that the lawsuit for the fine be lost. However, this will be a major inconvenience to the owner and they are unlikely to avoid the fine entirely; and if the association is willing to show it’s serious about collecting fines, it could make owners think twice about violations in the future. So even without a lien or foreclosure as a collection tool, I think it’s ultimately important for condos to enforce their fines. Furthermore, as NG notes, in the event of non-payment of a fine for more than 90 days, the association may suspend the right to use the common elements of this owner or resident until full payment of the fine. fine. It is therefore an additional motivational tool to get owners to pay.

Above all, the fact that a fine is imposed, whether it is paid or not; or the fact that a suspension is imposed; does not in any way mean that the owner must not respect the violated rule. Even outside of fines and suspensions, the association still has the option of taking the owner to court (sometimes after participating in arbitration or sending a request for mandatory mediation) and asking a judge to issue a court order. prohibiting the behavior. This court order would then be enforceable, and a judge could even hold a landlord in contempt for continuing to violate the terms or rules. The main obstacle I find for associations pursuing violations in court is the cost of enforcement, which can be considerable; but the association is entitled to recover much of its legal costs if it prevails in a lawsuit, and that is ultimately only part of an association’s business – enforcing rules is part of the duties of the association, and there are only a limited number of enforcement tools available.

Thus, the limitations on fines do not condemn a syndicate of co-ownership to ignore its offenders. Fines are only one piece of the puzzle, and the association should consider using all available tools to curb bad behavior.

Note that, for those who live in communities governed by HOAs, while there is also a $100/$1,000 limit in HOA law, these limits only apply if the governing documents do not authorize upper (or zero) limits. So you will sometimes see an HOA where the fine is well over $100 and the overall fine is infinite. I will say that I would be very skeptical of a judge approving a huge HOA fine ($50,000 or $100,000, for example), but it gives the HOA even more leeway. And, because fines of $1,000 or more in an HOA can be subject to lien and foreclosure, it gives HOAs an additional and more effective collection tool.

Ryan Poliakoff, Partner at Backer Aboud Poliakoff & Foelster, LLP, is a Certified Specialist in Condominium and Planned Development Law. This column is dedicated to the memory of Gary Poliakoff, a pioneer in the community association legal industry, tireless advocate and author of treatises, books and hundreds of articles. Ryan Poliakoff and Gary Poliakoff are co-authors of New Neighborhoods—The Consumer’s Guide to Condominium, Co-Op and HOA Living. Send your questions to [email protected]. Please be sure to include your location.

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Reds reliever Art Warren had UCL repaired, Nick Senzel update


Cincinnati Reds reliever Art Warren, who was signed to Louisville on Sept. 10 and landed on the minor league disabled list without appearing in a game due to an elbow injury, recently underwent surgery to repair his ulnar collateral ligament (UCL), Reds coach David Bell told reporters on Saturday.

“Art Warren recently had UCL repaired, not rebuilt, repaired,” Bell said. “I don’t know the extent of the difference between the two. There is a distinction there.”

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Bell said it wasn’t Tommy John’s surgery.

Warren has thrown 36 innings this season with 40 strikeouts and a 6.50 ERA.

Bell said he doesn’t yet have a timeline for Warren’s recovery.

Nick Senzel equipped with a cast, a scooter

Outfielder Nick Senzel was fitted with new equipment on Saturday to help with the broken toe he suffered on Tuesday when he collided with the center field wall.

Senzel’s foot is now in a cast and he uses a scooter to support his foot so he can still move around.

Bell reiterated on Saturday that Senzel did not need surgery.

“He’s going to be in this (cast) for 6-8 weeks,” Bell said. “It was a bad break. There’s nothing he can’t recover from but it’s going to be important…having the scooter is great to be able to move around and stay as active as possible. It’s long enough to be embarrassed a bit but he’ll have plenty of time, we were just talking about when he’s back and able to get back to training and hitting, and he’ll be fine for spring training.”

Majority of student borrowers link mental health issues to debt: survey – The Hill


The story at a glance

  • A survey by the ELVTR online education program found that 54% of student borrowers experience mental health issues due to the amount of debt they owe.

  • Fifty-six percent of people whose mental health is affected by student loans said they suffered from anxiety, while about a third suffered from depression.

  • The survey also found that student borrowers are postponing major life events, such as starting a family, because of their debt.

Most student borrowers will struggle to repay their loan debt, and more than half say the amount of debt they owe is straining their mental health, according to a recent survey.

A survey by the ELVTR online education program found that 54% of student borrowers experience mental health issues due to the amount of debt they owe. Fifty-six percent of people whose mental health is affected by student loans said they suffered from anxiety, while about a third suffered from depression.

Before President Biden’s forgiveness plan, the average student debt balance was over $37,000, according to the Education Data Initiative. But only 41% surveyed by ELVTR are satisfied with their decision to borrow money to finance their studies. More than three-quarters of respondents are unhappy with the academic decisions they made at university.

The survey also found that student borrowers are postponing major life events because of their debt, including starting a family, buying a home and travelling.

Still, some struggle more than others, as only 31% of women and 21% of black graduates said they could afford to make their monthly payments.

America is changing faster than ever! Add Change America to your Facebook Where Twitter stream to stay up to date with the news.

The White House earlier this week released a state-by-state breakdown of borrowers affected by Biden’s student debt cancellation plan, which could eliminate student debt entirely for 20 million borrowers. About 90% of the expected relief will go to Americans earning less than $75,000 a year, according to a White House fact sheet.

The administration in August rolled out plans to waive up to $10,000 for federal borrowers earning less than $125,000 and up to $20,000 for borrowers who meet income criteria and received a Pell Grant during their studies.

More than 40 million total borrowers in all 50 states will be affected by the plan if all eligible applicants apply for relief online by early October. The Department of Education advises applying by Nov. 15 for relief before resuming federal loan repayments in January.

Student loan refinancing: the complete guide


Student loan refinancing involves taking out a new private student loan to pay off one or more existing student loans. Borrowers can choose to refinance their student loan to lower the interest rate, lower their monthly payments, or pay off their debt faster.

Refinancing student loans can save you money during repayment, but it’s not a good strategy for everyone, especially if you have federal student loans eligible for debt cancellation programs and income-based repayment plans. But if you have private student loans or don’t plan to use federal protections, you may have decided that refinancing is the right decision for your financial situation. If that sounds like you, follow this guide on how to refinance your student loan debt in five easy steps.

How to Refinance Student Loans

Before you start contacting student lenders, you’ll want to gather information about your existing student loan debt from your current loan officer. You should also dig into your own finances so you know what to expect regarding your eligibility as a loan applicant. Here is what you will need:

  • Outstanding student loan balance. Determine how much you need to borrow by adding together the balances of all the student loans you want to refinance. Consolidating multiple student loans into one will leave you with one monthly payment.
  • Current student loan rates. You should aim to refinance at a lower interest rate to save money on your monthly payments and during loan repayment. Since there are no fees to refinance student loans, the interest rate reflects the total cost of borrowing over time.
  • Estimated loan repayment date. Extending your student loan repayment term may lower your monthly payments, but it will cost more in overall interest charges over the term of the loan. On the other hand, shortening your repayment period will help you get out of debt faster and maximize your savings, but your monthly payments could be higher.
  • Credit score and reports. Student lenders determine your eligibility and interest rate based on your credit score and debt-to-equity ratio. If you have fair or bad credit, you may want to work on improving it before applying. You can request a free copy of your credit report from all three credit bureaus – Equifax, Experian and TransUnion – to find areas for improvement and dispute any errors.
  • Proof of income. Lenders may ask you to provide recent pay stubs and tax forms to verify your income and employment. Additionally, you should be able to provide proof of identity, as well as additional information on any existing debts you have, such as a mortgage or car loan.

When it’s time to refinance your student loan, it’s worth shopping around. Most student loan refinance lenders allow you to be prequalified to verify your estimated interest rate and repayment terms without negatively impacting your credit score. This means you can compare loan offers from multiple lenders to find the lowest possible interest rate for your situation.

If you don’t qualify for a lower student loan rate than you’re currently paying, you may need to work more on your credit score before refinancing. You may also be able to get a better interest rate by enlisting the help of a creditworthy co-signer, such as a trusted friend or relative. But keep in mind that your co-signer will also be responsible for paying off the debt, so it’s important to have a realistic repayment plan.

With several loan offers in hand, you can choose the one that best helps you achieve your financial goals. Ideally, you’ll want to choose the lender that offers the lowest interest rate without extending your repayment term. This can help you lower your monthly payments and save money over time while still meeting your original loan repayment date.

If possible, you can save even more money and pay off your debts faster by opting for a shorter repayment term and a lower rate. Still, make sure you’re prepared to handle the higher monthly payments of a more aggressive debt repayment plan.

Once you have chosen the best loan offer for your financial situation, you will need to complete a formal loan application with the lender. Unlike pre-qualification, the loan approval process will require a thorough credit investigation, which will have a temporary and somewhat minimal negative impact on your credit score.

During the application process, the lender will want more detailed information about your finances and take a closer look at your complete credit report. You may be asked to provide additional information and documentation about your employment, income and existing debts. You will also provide the lender with proof of identity, such as a social security number, driver’s license, or other form of government identification.

Remember that prequalifying for a new student loan does not necessarily guarantee that you will be approved. If the lender finds anything during the underwriting process that was not disclosed in your original loan application, your application may be denied.

Upon loan approval, you will sign your loan documents – this step can usually be done online. Your new student lender will pay off your existing debt and your loan balance will be transferred within a few weeks. In the meantime, however, you should continue to make payments to your original lender until the transfer is complete so you don’t have to pay late fees.

Once the transfer is finalized, you will begin making payments to your new lender. Keep track of your repayment progress and you’ll be on your way to getting out of student loan debt.

March trial for Suisun City woman, 52, accused of massive fraud – The Vacaville Reporter


A trial in Solano County Superior Court in March has been set for a 52-year-old woman from the city of Suisun accused of a series of massive fraud schemes and she could learn about it in the coming weeks.

Sharon N. Dailey, who court records say appeared in Department 23 on Monday, is charged with multiple fraud charges related to an attempt to secure an $8 million loan to buy a Fairfield winery , two more attempts to secure multi-million dollar loans and attempts to buy a jet plane and lease a Rolls Royce.

During the morning session, when Dailey was to learn the date of his trial, Judge John B. Ellis ordered him to return at 9 a.m. on March 27 for the trial at the Justice Center in Fairfield.

The judge also held a pre-trial conference at 8:30 a.m. on January 6 and a trial management conference at 8:30 a.m. on March 24. Dailey is represented by Alternate Public Defender Michi Yamamoto.

Dailey was arrested Nov. 4, 2021, near the intersection of Pintail Drive and Spoonbill Lane in the town of Suisun, according to Solano County Sheriff’s Office records. She was taken into custody on suspicion of 17 crimes involving six different fraud schemes. She was later arraigned in a Fairfield courtroom and remains in custody at Claybank Detention Center, also in Fairfield, on $250,000 bond.

According to a press release from the Solano County District Attorney’s Office, Dailey was charged with eight counts of impersonation; four counts of false financial statements to obtain a loan; two counts of mortgage foreclosure consultant fraud; a grand flight leader; one count of forging a forged check for $500,000; and one count of mortgage fraud.

Dailey was also charged with “committing a pattern of related criminal conduct,” District Attorney Krishna Abrams noted in the prepared statement.

Specifically, she added, the charges relate to the following schemes:

  1. Besides the $8 million loan to buy a Fairfield winery, a scheme involving his attempt to receive a $3 million personal loan in another person’s name.
  2. A scheme involving his attempt to receive a $5 million business loan for a bogus business;
  3. A scheme involving the fraudulent rental of a Rolls Royce Ghost Series II vehicle with a rental value of $144,000;
  4. A scheme where she submitted false documents in an attempt to purchase a Bombardier Challenger 850 aircraft;
  5. And a foreclosure rescue program in which she received $120,000 from victims, submitted false documents in civil court, and victims lost their homes to foreclosure. (Dailey on Dec. 22 was set to face trial on other criminal charges of defrauding the U.S. Small Business Administration for submitting false documents and receiving $187,000 in loans for COVID-19 relief to struggling small businesses. to survive in the midst of the pandemic.
    Abrams also said the defendant was previously convicted in 2008 in U.S. District Court in Sacramento of fraudulently obtaining financial assistance related to Hurricane Katrina, a Category 5 storm that devastated New Orleans and Gulf Coast in August 2005.

The latest case is being investigated by District Attorney Investigator Mason Mineni. Assistant District Attorney Jeff Daley is leading the prosecution.

Mineni asks anyone with information about these cases to call him at 784-6876.

Donald Trump accused of using his Chicago tower as part of a scheme


A theme throughout New York Attorney General Letitia James’ multimillion-dollar fraud lawsuit against former President Donald Trump is that he undervalued a property if it would save him money. money and an overvalued property if it would help him get bigger loans.

The Trump International Hotel & Tower Chicago storefront is cited as an example of how Trump would have sought to have it both ways. When he needed collateral, he and his team placed a high value on the property and when he wanted tax relief, he called the property worthless, according to the lawsuit filed Wednesday by James’ office.

Once touted as a jewel in the Trump portfolio, the Chicago Trump Tower was, in fact, mired in dodgy funding for years.

The 220-page lawsuit said the downtown Chicago property, officially owned by 401 North Wabash Venture LLC, has been valued at $133 million in recent years by Deutsche Bank, which lent money to Trump for the project, but he gave a different story – saying it was worthless – when filing his taxes.

In an attempt to try to avoid detection, Trump and the Trump Organization intentionally did not include the skyscraper in its various statements of financial position so that it does not expose the different values ​​it has. data to the property, the lawsuit said.

“Since 2009, its value has been excluded from statements of financial position,” which are essentially balance sheets reviewed by lenders and others that show assets and liabilities, the lawsuit said.

Based on sworn testimony, the reason for the omission was that “Trump did not want to take a position on the returns that would conflict with a position on the value of the property he represented to the tax authorities. “, said the lawsuit. “(The) investigation revealed that the tax position taken was that the property had become worthless in Mr. Trump’s view, and thus formed the basis of a substantial loss under the federal tax code.”

The Chicago hotel and residence are ‘relevant’ to the case filed by James’ office because ‘Mr. Trump and the Trump Organization obtained bank loans on the building or its components as security and the statements were part of it. of the loan transaction,” the lawsuit said.

Any use of different property values ​​could put Trump in a difficult position given that he allegedly certified his statements of financial disclosure as true and accurate in several loan agreements, including in loans he personally guaranteed for the skyscraper. -sky on the bank of the Chicago River.

Among the loan transactions cited in the lawsuit was one in which the Trump Organization repaid a $98 million to $19 million loan with proceeds from the sale of condos at the Chicago property, but then successfully increased the Deutsche Bank loan from $54 million – to a $73 million loan – with Trump’s personal guarantee.

The warranty included, according to the lawsuit, “unsold condominium units and the Trump International Hotel Chicago.”

In 2015, according to the lawsuit, the Trump Organization paid back what it owed on a remaining loan balance of $45 million.

But since the property had been appraised at $133 million, that was to Trump’s advantage, as the appraisal triggered specific provisions in his loan agreement that meant “Mr. Trump’s personal guarantee was removed.” ”, according to the lawsuit.

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Twitter @RayLong

Twitter @jmetr22b

Research: Rating Action: Moody’s Downgrades Red Planet Borrower, LLC’s CFR to B3; stable outlook


New York, September 21, 2022 — Moody’s Investors Service (“Moody’s”) has downgraded the Corporate Family Rating (CFR) of Red Planet Borrower, LLC (dba Liftoff) from B2 to B3 based on a uncertain revenue growth and cash flow outlook over the next year following the company’s recent poor performance. This year’s operating results reflect a significant and continued deviation from projections at the time of the combination approximately one year ago. Moody’s also downgraded Liftoff’s probability of default (PDR) rating to B3-PD from B2-PD and the instrument ratings on the senior secured term loan and revolving credit facility from B3 to B2. The outlook is stable.

Today’s rating actions are summarized below:


..Issuer: Red Planet Borrower, LLC

…. Corporate family ranking, downgraded from B2 to B3

…. Default scoring probability, downgraded to B3-PD from B2-PD

….Secured senior bank credit facility, downgraded from B2 (LGD3) to B3 (LGD3)

Outlook Actions:

..Issuer: Red Planet Borrower, LLC

….Outlook remains stable


Liftoff’s CFR reflects Moody’s expectation that Liftoff’s full-year 2022 revenue and adjusted EBITDA margin will be nearly $150 million lower and 25 points lower, respectively, than at the time of the assignment of the initial ratings about a year ago. As a result, Moody’s expected debt to EBITDA (as calculated by Moody’s) will be well over 10x and free cash flow will be negative for the remainder of the year.

Lower advertising budgets due to macro-economic uncertainty impacting the mobile advertising industry generally only partially explain the magnitude of the company’s revenue shortfall. Poor execution in response and an apparent lack of anticipation of the impacts on Liftoff’s business from changes in the bidding dynamics of the mobile app advertising ecosystem severely impacted the company’s operational performance against Moody’s expectations .

It is unclear whether the move to integrated auctions will result in a permanent decline in operating margins given the increase in cloud computing requirements and auction mediation fees. Liftoff is trying to offset these increased costs through increased infrastructure efficiency as well as negotiating more favorable trading terms, although the realization of both is uncertain. Additionally, the prolonged delay in realizing the expected benefits of Supply Chain Path Optimization (SPO), which was an important pillar underpinning the combination of Liftoff and Vungle, may extend well into 2023. or 2024, continuing to negatively affect medium-term financial performance.

The stable outlook reflects Moody’s view that, despite the high degree of uncertainty about Liftoff’s credit profile beyond this year, the company’s financial results could improve significantly as the overall advertising market is recovering, given the company’s generally high gross margin and operating leverage. While Moody’s estimates that the level of FCF revenue at breakeven in 2023 is only marginally lower than the level forecast for 2022, the company can stabilize its margins through cost measures, providing protection against the weak ongoing macroeconomic or other operational challenges. The company expects more than $20 million in operating cost savings and a gross margin of around 80% at the end of the fourth quarter, while indicating that it may increase cost levies if operating results are weaker than expected. Moody’s updated view incorporates the realization of these cost savings.

Liftoff’s liquidity is good, reflecting a strong cash balance and ready availability to weather negative near-term free cash flow which is expected to turn positive in 2023 with a resumption of revenue growth and improved margins. The company had $111 million in unrestricted cash as of June 30, 2022 and full availability under its $150 million revolving credit facility, which Moody’s does not expect Liftoff to draw on. over the next twelve months. The term loan does not contain financial preservation covenants and the revolving credit facility has a first lien net leverage ratio of 8.75x at 35% utilization, which is not expected.

The B3 instrument rating for the Senior Secured Term Loan and Revolving Credit Facility complies with CFR B3 as secured debt represents the preponderance of funded debt.


Liftoff’s ratings could be downgraded if Moody’s expects the company’s revenue decline to accelerate, operating margins to squeeze further, or if FCF is expected to remain negative beyond this year.

While unlikely in the near term, Liftoff’s ratings could be upgraded if organic revenue growth and margin expansion improve significantly and return to high double digits, leading Moody’s to expect that adjusted debt to EBITDA is maintained below 6x, accompanied by a solidly positive free cash flow.


Liftoff’s governance risk is highly negative, reflecting an aggressive financial policy, concentrated private equity ownership, historical debt-funded distributions, lack of public financial disclosure, and lack of board independence. . The credibility and track record of Liftoff’s management is a very negative factor given the company’s substantial underperformance against expectations in the year following the assignment of initial debt ratings in September 2021.

Red Planet Borrower, LLC (dba Liftoff), headquartered in Redwood City, CA, is an independent mobile app marketing and advertising platform. The company was created in September 2021 through the combination of Liftoff Mobile, Inc. and Vungle Inc., two portfolio interests of Blackstone Inc., which retains majority ownership of the combined entity. According to Moody’s, net revenue is expected to be around $400 million for the full year of 2022.

The main methodology used in these ratings is that of business and consumer services published in November 2021 and available on https://ratings.moodys.com/api/rmc-documents/356424. Otherwise, please see the Scoring Methodologies page on https://ratings.moodys.com for a copy of this methodology.


For details on key rating assumptions and Moody’s sensitivity analysis, see the Methodological Assumptions and Sensitivity to Assumptions sections in the Disclosure Form. Moody’s rating symbols and definitions can be found at https://ratings.moodys.com/rating-definitions.

For ratings issued on a program, series, category/class of debt or security, this announcement provides certain regulatory information regarding each rating of a subsequently issued bond or note of the same series, category/class of debt, security or under a program for which ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a media provider, this announcement provides certain regulatory information relating to the credit rating action on the media provider and each particular credit rating action for securities whose credit ratings are derived from the support provider’s credit rating. For the provisional ratings, this press release provides certain regulatory information relating to the provisional rating assigned, and to a final rating that may be assigned after the final issuance of the debt, in each case where the structure and conditions of the transaction n have not changed prior to the final rating being assigned in a way that would have affected the rating. For more information, please see the issuer/transaction page of the respective issuer at https://ratings.moodys.com.

For all relevant securities or rated entities receiving direct credit support from the lead entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action , the associated regulatory information will be that of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to the jurisdiction: Ancillary services, Disclosures to the rated entity, Disclosures to be provided by the rated entity.

The ratings have been disclosed to the rated entity or its designated agent(s) and issued without modification as a result of such disclosure.

These notes are solicited. Please refer to Moody’s Policy for the Designation and Assignment of Unsolicited Credit Ratings available on its website. https://ratings.moodys.com.

The regulatory information contained in this press release applies to the credit rating and, if applicable, the outlook or rating revision relating thereto.

Moody’s general principles for assessing environmental, social and governance (ESG) risks in our credit analysis are available at https://ratings.moodys.com/documents/PBC_1288235.

At least one ESG consideration was material to the announced credit rating metric(s) described above.

The worldwide credit rating on this credit rating announcement was issued by one of Moody’s affiliates outside the EU and is approved by Moody’s Deutschland GmbH, An der Welle 5, Frankfurt am Main. -le-Main 60322, Germany, in accordance with Article 4(3) of Regulation (EC) No 1060/2009 on credit rating agencies. Further information on the EU approval status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

The worldwide credit rating on this credit rating announcement has been issued by one of Moody’s affiliates outside the UK and is approved by Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the United Kingdom. . Further information on the UK endorsement status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

Please see https://ratings.moodys.com for any updates on changes to the lead rating analyst and Moody’s legal entity that issued the rating.

Please see the issuer/transaction page at https://ratings.moodys.com for additional regulatory information for each credit rating.

Kevin McNeil
Vice President – Senior Analyst
Corporate Finance Group
Moody’s Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
JOURNALISTS: 1 212 553 0376
Customer service: 1 212 553 1653

Stephen Sohn
Associate General Manager
Corporate Finance Group
JOURNALISTS: 1 212 553 0376
Customer service: 1 212 553 1653

Release Office:
Moody’s Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
JOURNALISTS: 1 212 553 0376
Customer service: 1 212 553 1653

Perrottet refuses to decriminalize drugs as government response to ice inquiry released

The New South Wales The government is refusing to decriminalize drugs as part of its response to the 2020 youth methamphetamine use and overdose survey.

Prime Minister Dominic Perrottet has made it ‘very clear’ that he will not support the decriminalization of low-level personal drug possession two years after the recommendation was made as part of a $10.8 million investigation. dollars on drug use.

The government today pledged $50 million for health and justice reform strategies, including allowing low-level drug offenders without prior convictions to avoid court under a policy of “ two shots”.

The government responded to the recommendations of the ice inquiry two years later. (Getty Images/iStockphoto)

Perrottet said 86 of the 109 recommendations will be supported with a focus on supporting justice, expanding drug courts and rehabilitation services.

“Drugs have no place in our society,” he said today.

“But those who have been caught up in drug use need health care and support, and this response puts people at the centre.”

An investigation report was released two years ago in response to drug overdoses among young people, Perrottet defending the extended response time.

Dominic Perrottet, Premier of New South Wales
New South Wales Premier Dominic Perrottet is doubling down on his zero tolerance approach to drugs. (New)

“It’s a very complex question,” he said.

“Every mother and father would expect this government to take the time to get it right.”

The government has said its response is not to “get soft” in the war on drugs, but to “provide health care and support for drug users”.

“When you look at drugs in our communities, they are a scourge on our society and they impact our communities, our families and our individuals,” Deputy Prime Minister Paul Toole said.

“We want to make sure that we provide support to those who need it.”

Deputy Prime Minister Paul Toole on the ice inquiry
Deputy Prime Minister Paul Toole said the answer was not to “indulge” in drugs. (9News)

New “two-step” approach to the penal response for drug addicts

Attorney General Mark Speakman has announced that the government will introduce a “pre-court diversion program”, which is essentially a two-step policy before offenders are sent back to court.

The program means that drug users are entitled to two criminal offense notices when arrested by the police.

Speakman said the “offender” can avoid the fine if they attend a telehealth program or a drug and alcohol support service.

“Like when you register your car, you get your pink slip and the mechanic sends the number to the registration authority to say it’s been done,” he said.

“The health care provider will send the violation number to the IRS to waive the fine.”

Speakman said infringement notices will not be available to people with criminal records and they will be subject to normal court procedures.

Generic NSW Font
The police will continue to crack down on the drug supply, but there will be a new merit system. (Sam Mooy)

Police crackdown complemented by health reform

Police will continue to crack down on the supply, importation and distribution of drugs in New South Wales.

“We are still targeting drug suppliers, distributors, importers and those creating the problem we face today,” said NSW Police Commissioner Karen Webb.

Health Minister Brad Hazzard welcomed the opportunity for the health and justice system to work together to deliver better outcomes for individuals and families affected by drug use.

He said “it won’t be easy,” but the $500 million commitment will help expand health and rehabilitation services.

“We all know someone who has been affected by drugs in some way, so this report gives hope for the future,” Hazzard said.

‘I didn’t sleep with her’: US president faces public

While this investigation focused on drugs, Chief Health Officer Kerry Chant said other legal and illegal drugs “have significant impacts on our community” that also need to be addressed.

Funding is indexed to go towards health-related programs, particularly for regional areas.

Chant added that the focus will be on Indigenous Australians and drug addiction, as well as educating young people about the harms of drugs.

Rising Mortgage Interest Rate Requires Reassessment of Loss Mitigation Techniques – NMP


Pool issuers, not managers, buy loans from a pool of MBS. When they do, issuers must finance the purchase of the mortgages with their corporate assets. The repurchased loans are then recorded on the issuer’s balance sheet.
The interest rate an issuer can offer is directly related to its funding costs. If an issuer must redeem the loan from an MBS to modify their loan, the interest rate offered to the borrower will increase by the same amount as the issuer’s funding costs have increased.

If the issuer is Fannie Mae or Freddie Mac, the GSEs hold the securities on their balance sheet and finance them with their debt. The borrower is changed to a loan with the original interest rate (the changed loan rate is the lower of the original rate or the new rate). The initial mortgage rate may be lower than the debt rate, but GSEs can easily bear this cost.

If the organization is an issuer of Ginnie Mae-guaranteed MBS, a mortgage rate below the debt ratio is a problem for it and for the borrower. When an issuer cannot afford to purchase the loan, they have no effective loss mitigation strategy to offer the borrower, and the borrower is faced with foreclosing or selling their house to meet his mortgage obligation.

What higher rates mean for the MBS market

In the latter scenario, when issuers purchase a loan out of the pool, they lose the MBS funding and must fund the mortgage at their cost of funds – which in today’s market is likely significantly higher than the original interest rate. . After the modification, the mortgage can be bundled into a new MBS at a higher interest rate, removing it from the issuer’s balance sheet. But the borrower will receive a modification in which he pays a higher interest rate, and the higher mortgage payment will likely result in the borrower losing his home.

The approximate doubling of interest rates in the MBS market has created a situation where Ginnie Mae issuers cannot afford to buy loans from MBS pools and lose their low-cost funding, and Distressed borrowers cannot afford a proportionately higher interest rate.

The challenge the industry now faces is how a mortgage can be changed to a payment the borrower can afford without forcing the issuer to redeem the MBS loan and lose its attractive funding costs.

2022 Hispanic Heritage Month Spotlight > Naval Sea Systems Command > Recorded News Module

2022 Hispanic Heritage Month Spotlight > Naval Sea Systems Command > Recorded News Module

Dr. Gretchen Rivera, Business Data Intelligence Manager at NSWC’s Panama City Division, earned her Bachelor of Business Administration in Statistics and Master of Public Health in Biostatistics from the University of Puerto Rico. She continued her education at Florida State University, where she earned her Master of Science and Ph.D. in biostatistics.

Rivera moved to Panama City Beach, Florida in 2013 and began working at Gulf Coast State College (GCSC), where she served as an Institutional Data Analyst. After three years, she was promoted to Director of Institutional Research and Strategic Planning and became a board member of Early Education and Care Inc., which she continues to serve on in her spare time.

In the fall of 2018, Rivera reached a career milestone by attending the GCSC Leadership Institute program. She realized that higher education was not her passion and began looking for a meaningful new career path where she could continue to develop her technical skills.

The realization of this passion began when she began her career at NSWC Panama City Division in 2020 as a Senior Data Analyst for Coastal Battlefield Reconnaissance and Analysis (COBRA). During her first year, she enjoyed discovering the technical mission of the command and being surrounded by scientists where technical discussions were fruitful. In this position, she evaluated the performance of the COBRA system and contributed to mission-critical documents. In 2021, Rivera found a new opportunity within the Corporate Business Office, allowing him to expand his skills as a business data intelligence manager.

In a collateral role, Rivera is vice chief of the command’s Hispanic employment program and mentors and inspires the next generation of scientists and engineers through the science, technology, engineering, and math (STEM) outreach program. .

“The collaboration between NSWC PCD departments, the opportunity to advocate for the Hispanic community and to see future scientists and engineers in the making, makes me want to get up in the morning,” Rivera said.

A local team of fourth-graders she mentored won two awards in the regional championship and placed eighth out of 40 teams in the First Lego League Challenge State Championship. She said she uses encouragement and emphasizes empathy and teamwork to motivate and inspire.

“I told the students that the success of my career was having the empathy that allowed me to be a good team player and a good leader,” Rivera said. “You can’t be a leader and have motivated employees if you don’t have empathy and if you don’t work well with others.”

Credit card borrowing close to pre-pandemic levels


There are some things we want to see return to pre-pandemic levels, like traveling to remote places or getting together with friends and family.

And then there are some things that, maybe, we might not like to see heading into those pre-COVID-19 high waters.

Not in the paycheck-to-paycheck economy, anyway.

Credit card debt is on the rise, approaching levels seen a few years ago. This trend was highlighted by data from eight issuers, as noted by Seeking Alpha. The overall trend was up, from lows seen during the pandemic, where consumers had used stimulus payments to reduce those balances.

Also Read: Card Issuers See Rise in Borrowing

Problem for Paycheck to Paycheck Borrowers

Inflation, of course, is partly responsible for some of the accumulation. And while it could be argued that the rise in debt could be manageable as it is effectively a “refreshment” from low levels, PYMNTS data shows that trouble may be waiting behind the scenes. .

Especially for those of us who live paycheck to paycheck – that’s most of us, at 59% of the US population. In fact, this designation is so prevalent that 49% of consumers earning over $100,000 don’t have enough money at the end of each pay period. And as noted in a recent “New Reality Check” report, produced in collaboration between PYMNTS and LendingClub, 29% of consumers living paycheck to paycheck who have trouble paying bills don’t have a card. credit. This implies that more than two-thirds of these same consumers have credit cards.

And if the majority of these borrowers have cards in hand and have trouble paying bills, it follows that they would use those cards to make ends meet – especially since we found that consumer savings living paycheck to paycheck have plummeted. from a high of $4,000 during the pandemic to a recent $2,969. The savings cushion can only last for so long, and credit cards fill the gap. But by increasing that monthly debt burden — that is, the cost of servicing that debt — the paycheck consumer is now adding a bit more pressure on the daily struggle to maintain cash flow.

A large majority of our consumers surveyed have had to deal with financially stressful events, and in a time when the “new” emergency event now averages $1,400, it’s easy to see where the pressures. One or two emergency expenses can tip a consumer or family into a precarious financial existence.

Also Read: How Did $1,400 Become the “New” Average Emergency Expense?

The cycle becomes vicious in which paycheck-to-paycheck consumers are likely to take on more credit card debt than other cohorts – and they are the ones who have the hardest time managing that debt. Indeed, data from issuers but also from the St. Louis Fed show that delinquency rates are on the rise. The old saying goes that where there’s smoke, there’s fire, and in the paycheck-to-paycheck economy, the plumes start to rise.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

Learn more


Prosper Credit Card Review 2022 – Forbes Advisor


Prosper® card* compared to the Discover it® secure credit card

The Discover it® secured credit card as a secured card requires a deposit, unlike the Prosper card. But the Discover it® secured credit card deposit is fully refundable and the card does not charge an annual fee. Even better, despite being a secure card, the Discover it® Secure Credit Card offers rewards and a welcome bonus: Earn 2% cash back at gas stations and restaurants on up to to $1,000 in combined purchases each quarter. Plus, get unlimited 1% cash back on all other purchases. Plus, Earn Unlimited Cashback Match – Discover will automatically match any cashback earned at the end of the first year.

Although the Discover it® Secured Credit Card‘s deposit requirement may make it out of reach for some who view the annual fee as a more affordable alternative to tying up cash in a deposit, the card is a better alternative. generally.

Prosper® card* compared to the Petal® 1 “no annual fee” Visa® credit card

The “No Annual Fee” Visa® Petal® 1 credit card, issued by Member FDIC, WebBank, offers another unsecured option with no annual fee and limited rewards with select partners. While the rewards aren’t particularly fantastic and highly dependent on geography, the issuer’s use of a “cash score” to gauge your creditworthiness in the absence of a credit score can be particularly appealing to those who begin to credit themselves.

The Visa® Petal® 1 “no annual fee” credit card also includes benefits, including damage insurance for car rentals and access to curbside shipping, which the Prosper does not offer. The Petal 1 is a similar card for a similar demographic with much more potential to help build credit.

Prosper® card* vs. Bank of America® Travel Rewards Credit Card for Students*

The Bank of America® Travel Rewards Credit Card for Students* is a solid option for students who want to earn credits while exploring the world and ranks on our list of best student cards due to its rewards and travel-related benefits. With this card, you can earn 1.5 points per dollar on all purchases everywhere, every time with no expiration on the points. There are no annual fees, no foreign transaction fees, and points do not expire as long as your account is open. Although not everyone qualifies for a student card, those who do should consider this card which has more to offer than the Prosper card.

Launch of the 19th Annual Five Star Conference in Dallas


Jason Thiele, Director of REO Repairs and Pre-Foreclosure Asset Preservation at Fannie Mae, delivers his keynote address: “State of the REO Market” at the FORCE Rallthere

The 2022 Five Star Conference and Exhibition opened Sunday in Dallas at the Hyatt Regency Dallas, debuting with FORCE Membership Group’s New Member Mixer, welcoming agents and brokers new to the OBLIGATE. The FORCE Advisory Board was available to meet and welcome these new members, and network in person to discuss the state of the REO market and what lies ahead.

The afternoon FORCE Rally featured relevant content and exclusive information, designed for participants to take their business to the next level in today’s economic landscape.

James HastingsPresident of Hastings Brokerage, Ltd. and President of FORCE, welcomed participants to the FORCE Rally and provided an overview of the agenda for the afternoon. Hastings has specialized in helping mortgage managers and residential real estate portfolio managers with their comprehensive REO process since 1984, and has closed over $1 billion in residential REO.

Hastings hosted Jason Thiele, At Fannie Mae’s Director of REO Repairs & Pre-Foreclosure Property Preservation, to deliver his keynote address: State of the REO Market.

Following the keynote, a panel of experts discussed foreclosure trends and provided insight into foreclosure processes and best practices during “The Flow of Foreclosures” session. Steven PaganoBroker with First Hawaiian property; Rick Sharga, Executive Vice President, Market Intelligence at ATTOM; and Nolan Turner, CEO of Carrington Holding Company LLC discussed current changes in foreclosure volumes and how these changes will impact business.

“I don’t think we’re looking at a big wave of foreclosures, but we should be back to normal around August next year.” Charged Noted.

Hastings returned to the stage, this time joined by Rande Johnsen, Manager of the Body of Trustees for the “Most Interesting Man in the Industry” session. Johnsen is a veteran of over 35 years in the foreclosure, trustee, escrow and title industries. Beginning with flagship company Trustee Corps, which he founded in 1992, his business group includes securities and escrow services and has become a leader in auctioning services to clients in most Western countries. with regard to non-judicial seizures.

When asked what types of loans are entered on at present and what he thinks is the following, Johnsen replied At the moment we are working on the inventory of two more years ago. We still have people on forbearance plans and change plans. BUtah This is principally starting with reverse mortgages.

Asset managers have been particularly hard hit over the past two and a half years, and Everything Asset Management has explained how to become the best REO agent possible, from initial assignment to repairs and closure. Gregory Jacovini, COO of Pro Capital; Andrew Oliverson, Vice President of REO for Homegenius; and Aaron Zweig, REO Asset Manager for Fannie Mae shared their thoughts on the state of REO.

Jacovini is COO of Pro Capital, while Oliverson is vice president of REO at Homegenius, a division of Radian. He brings to his role over 17 years of REO asset management experience, having worked in mortgage finance in 2003 at Fairbanks Capital. Zweig has over 20 years of experience managing default services, 15 of which have been in REO asset management. He joined Fannie Mae in 2010, where he worked on all different types of REO portfolios, including traditional vacant assets, occupied tenants, high touch portfolio loans and auctions. Prior to joining GSE, Aaron worked at Countrywide as a Pre-Entry Specialist/Team Leader and at GMAC Finance as a Team Leader.

“One of the things I look for in an agent is someone who’s not just looking to list the property and get rich. Anyone can do that,” Jacovini said. if that’s what you offer as something you offer you are setting yourself up to fail there are things we can’t do without eyes and ears in the local market and that’s the service you can provide that no one can ever replace.

And while some REO stocks remain low, many different opportunities remain for businesses. For example, HUD is running 11% default on its current loan portfolio, and you can hear directly from one of its few contractors. The Force Rally featured the “Government REO Opportunities” panel, offering insights from representatives who manage USDA REO and VA REO. Laura Dietz, Broker/Owner of Summit Realty Group Inc.; Labrescia Dawson, CEO of Dawson’s Realty & Mortgages; Tiffany Fletcher, Senior Vice President of VRM Mortgage Services; and Machelle Redmon, director at Raine & Company shared their experiences with the public, offering solutions and options to keep the pipelines full.

Machelle Redmon, Tiffany Fletcher and Labrescia Dawson discuss government REO opportunities at FORCE 2022 rally

“It’s really hard to break into government contracts, and I understand that, but there’s a reason it’s hard to break into government contracts, because it’s a whole new world,” he said. said Redmon. We speak in acronyms. We just do things differently because it’s done in the real world and you have to understand that there’s a lot of paperwork and certain things need to be done.

Asked about the qualifications a potential new agent might need, Dawson said all that’s needed in a new agent is a willingness to work.

“So basically I like new agents because somebody gave me a chance back then,” Dawson said. “If they hadn’t given me the opportunity, I wouldn’t be here today, so I like to take risks with people.”

And with a number of the industry’s top experts in one room, those in attendance had the opportunity to pick and choose these people’s brains during the “Ask Them Anything: Questions and Answers with the FORCE advisory board” of the rally. The FORCE Advisory Council is responsible for expanding FORCE’s influence by guiding all members in building productive and meaningful relationships with distressed lenders, managers, REOs and asset management firms, and Investors.

FORCE Advisory Council members answer questions during the “Ask Them Anything: Q&A With the FORCE Advisory Council” session

Moderated by Gina Gallutia, Executive Director, Five Star Institute Membership, seven members of the Advisory Board took the floor to address the concerns of those in attendance.

Dietz, Hastings and Pagano were joined by Thomas Bohlmann of Bohlmann & Bohlmann LLC; Sarah Richards of Spring Mountain Realty LLC; and Jeff Russell of Russell Realty Group|eXp Realtyresponding to inquiries on a number of topics related to the REO space.

The moderator started the panel by asking the most frequently asked question he received from submissions from the public: “When are the listings coming and what are the signs?”

“I believe we will have increased foreclosures in America through 2026,” Hastings noted. “When you look at the data, that shouldn’t be a surprise, so I think we’re going to have a good five years.”

The FORCE Rally Reception brought the 2022 FORCE Rally to a close, followed by the Opening Reception, presented by Auction.comoffering the opportunity to connect with professionals, clients and potential new partners all under one roof at Monduel within the confines of the Hyatt Regency Dallas.

Stay tuned DS News for continued coverage of the 2022 Five Star Conference and Expo.

Nicki Minaj accused by Youtuber of ‘motivating’ ‘Barbz’ to threaten and harass her, claims her personal details were leaked online and she received death threats


Nicki Minaj, Kimberly Nicole Foster

Nicki Minaj accused by YouTuber of ‘motivating’ ‘Barbz’ to threaten and harass her, claims her personal details were leaked online and she received death threats

A rap icon Nicki Minaj inappropriate super fans could soon find themselves in legal trouble.

According to recent reports, a popular Youtube figure Kimberly Nicole Foster, 33, looking to have some of Nicky At Minaj’s fans, known as “Barbz”, respond to the law. Foster claims too much Nicky Stans sent her death threats and other disturbing messages following several criticisms she made about the rapper. The social media influencer also said she believed Minaj is at fault, insinuating that the artist encourages said behavior because of the way she interacts with her fans.

Nicki Minaj

The saga began when Fosterwho regularly offers commentary on prominent cultural celebrities, tweeted:

“Nicki is clearly a horrible person. Negativity sticks to him like glue. Idk if we’ve seen that before.

Not long ago Foster began to receive a kind of backlash that she slowly realized was more than the norm. Speaking on the subject, she said:

“It was normal, boring stuff where I was like ‘OK, block it and move on… The messages got more threatening and dark, and then it started to be ‘We’re going to find you’. I’m going to kidnap you, I hope you get raped.'”

Apparently, the Youtube star is a Harvard grad who once used her platform for women’s empowerment and even praised her once. Minaj. However, now that his online presence has shifted to entertainment commentary, it appears his online interactions have been increasingly hostile, especially with the “Barbz”. The super fan group was recently accused of harassing another of their idol’s critics who is currently being sued by the rapper.

Foster shared messages of harassment. She claims a Nicky fan shared his number online with the intention of sending him massive amounts of hate messages.

Some of the disturbing posts allege that random strangers on the internet know where Foster lives and threatened to kidnap her. One user even went so far as to threaten her family. Talking about it, Foster explained that after sharing with her 80,000 followers that she was attending a family friends day with her sister’s children, a user threatened the children with “collateral damage”. She said:

“Someone sent me screenshots of ‘I’ll find the kids’ address’ and ‘I don’t care’ and ‘They’ll be collateral damage'”

Whereas Foster would continue to build a case for the court, she expressed that she believed Minaj is partly responsible. The YouTuber noted the posts that the “Super Freaky Girl” artist liked on Twitter, stating that she thinks the actions performed by the “Barbz” are simply to get the attention of super stars. She said:

“The Barbz agree that the harder they go for her – the more virulent the nastiness – there are more opportunities for her to recognize them,” he added.

Reports indicate that Foster plans to gather evidence in the form of “phone numbers, Twitter handles and IP addresses” and begin filing a lawsuit as early as next week. However, the report also notes that Minaj, at this time, is clear of any fault in the prosecution.


Do you think Nicki Minaj is responsible for Barbz’ aggressive actions? Give us your opinion in the comments.

Borrow to live a lie


If you don’t know that a yellow Garri ‘mudu’ that used to sell for N140 in Abuja is now N500, you would at least know that a liter of diesel has gone from N240 per liter to N820. This is why my barber disagreed with the headline of the newspaper I was reading: INFLATION IN NIGERIA REACHES RECORD LEVEL OF 20.52%. The report went on to explain that this new figure was 3.52% higher than the rate recorded in the same period last year, which was (17.01%).

The fact that the data was produced by the National Bureau of Statistics did not assuage his disapproval.

“Sorry sir, I’m just a poor barber, but I’m not stupid. What is this nonsense about inflation rising to 20.52%? For my part, I can tell you that I have lived with a 300% increase in my basic cost of living over the last two years while the money in my pocket has depreciated by 400%”.

I wanted to chime in with details about the variables taken into account in the calculation of the consumer price index, but I changed my mind because the good old barber used to skillfully shave my neck area in the days of the facts. Any commotion could make him decide something.

So I just sat there and endured his 45 minutes of ranting which thankfully ended when his colleague said, “Calm down, this pain will pass soon.”

I made a mental note of this statement. It is perhaps the unctuous invocation to throw arguments into the murky waters whenever someone expresses their frustration at the way the Nigerian economy has headed south as fortunes robbed of good many of its well-connected political elites are headed for the stars.

As I walked out of the salon, I showed the hairdresser another caption that indicated that Nigeria’s difficult economic situation would not suddenly disappear: THE NIGERIA TO BORROW N11 TRILLION TO FINANCE 2023 BUDGET. The nervous man almost jumped off his apron. “What have we done with all our past income and borrowings”? he asked as I slipped through the entrance to escape his harangue.

The lyrics of singer Omawumi’s hit played in the back of my head:

If you ask me

Na who am I going to ask?

The question we see thus, and we begin

No, I’ll talk, I’m heavy on the mouth

If you ask me

The material for the floor

Hey! Na who am I going to ask?

Ours is a classic case of incompetent resource management, forcing people to toil at elephantine grind to feed on crumbs like ants. As the rest of the oil-producing world reaps the benefits of the Russian-Ukrainian war windfall, our people are suffering under a regime of opaque oil prices that successive governments have called “subsidized”.

Even then, we live on loans, strutting around like peacocks in borrowed feathers. The federal government is proposing an overall expenditure of 19.76 trillion naira for the fiscal year 2023. The budget deficit is expected to exceed 12.42 trillion naira if the oil subsidy is maintained throughout the 2023 budget cycle, but the government plans to limit the damage to 3.36 trillion naira so that the next government can deal with the problem. The extra pain box was only thrown forward. We will have to face the demon headlong some day soon.

There are concerns that the government may not be able to finance investment projects in 2023. We are therefore embarking on all announced major borrowing just to maintain a semblance of normality.

We should not borrow a penny if we had managed our resources sensibly. Not so long ago, the Obasanjo administration paid off our debts in the hope that we could then start planning for a rosy future without the over-indebtedness and notorious conditionalities of major lenders. Now we can’t even meet our OPEC quota and there is a network of holes through which national revenues find their way into private pockets.

What we defined as corruption in the First Republic was child’s play compared to our current system of plunder of industrial proportions. Figures released by government agents confirm that thieves within the system have now proliferated all over the nerves of the official network as they compete with the government for revenue sharing.

As Nigerians feared the prospect of another bleak year ahead, the world was shocked to learn that a major crude oil carrier, MT Heroic Idun, had escaped Nigeria’s maritime environment with oil. crude stolen and had been arrested in Equatorial Guinea. The Nigerian Navy later explained that its officers chased the vessel and sent signals to Equatoguinean authorities to interdict the ship. The ship failed in its oil theft mission.

Experts in oil affairs have revealed that the entire chain of oil production and accounting is tainted with fraud. A tanker the size of the MT Heroic Idun could not have left its country of registry and strayed into Nigerian waters had it not been for some sort of arrangement to lift the cargo.

The ship was built in 2020, so it is a brand new ship. Owned by Hunter Tankers AS, she was flying the flag of the Marshall Islands at the time of the ban. She is 336 meters long with a beam of 60 meters and a summer deadweight of 299,995 tonnes. It has a capacity of 3 million tons of crude oil. It’s not your usual smuggler’s boat, far from it.

There are six oil export terminals in Nigeria. Shell has two, while Mobil, Chevron, Texaco and Agip have one each. Shell also owns the Forcados Terminal, which is capable of storing 13 million barrels (2,100,000 m3) of crude oil in conjunction with the nearby Bonny Terminal.

According to the Nigeria Extractive Industries Transparency Initiative (NEITI), 53.28 million barrels of oil were stolen in 2018 while the following year saw 42.25 million barrels worth $2.77 billion. According to OPEC sources, Nigeria’s crude oil production averaged 1.238 million bpd in June 2022. The country was consistently producing 2 million bpd in healthier times. The kind of theft that’s happening right now between big and small oil thieves, it’s almost like everyone wants to have a piece of the action before theft goes out of fashion.

Local thieves sourcing crude oil for their artisanal refinery are only a relatively small part of the problem. While it is true that over the years young militants have become proficient in plugging into oil pipelines, the damage they cause cannot be compared to the wholesale theft carried out with oil tankers such as the banned MT Heroic Idun ,

While the significant involvement of various participants in the Nigerian oil theft business is acknowledged, there is also the web of protection that the political elite and security forces provide to lower level oil thieves. The profitability of crude oil products and the lack of government oversight in monitoring pipelines are incentives for anyone involved in the illicit trade.

The problem of oil theft in Nigeria is a mixture of corruption and incompetence. We are not able to take into account an estimated production of 2 million barrels per day whereas in contrast, Saudi Arabia counts every drop of oil it produces. Crude oil production in Saudi Arabia averaged 8220.68 BBL/D/1K from 1973 to 2022, reaching an all-time high of 12007 BBL/D/1K in April 2020.

While unveiling new Production Sharing Contracts (PSCs) with its partners, the Group Managing Director of the Nigerian National Petroleum Company (NNPCL), Mele Kyari, hinted that while the local oil theft had been contained in a To some extent, there were international cartels. implicated in the theft of Nigerian oil.

Kyari said Nigeria is putting in place a firm mechanism to mark its rough exports so that buyers can easily identify stolen rough.

So here we are, heirs of landowners reduced to tenants, descendants of local residents who must wash their faces with spit, inhabitants of a rich land defined by bewildering misery. The Independent Corrupt Practices Commission (ICPC) has just told us that the 2021 budget has been inflated by MDAs with N400 billion for duplicate projects and N50 billion for ghost workers.

We know how we got to this sad juncture and what we need to do to get out of the debtors club. Borrowed funds and the irresponsible way we have deployed some loans are surefire ways to end badly. Do you manage a budget largely financed by loans with no capital provision?

No wonder my barber asks, “Where has all our prosperity gone?”

‒(Wole Olaoye is a seasoned public relations consultant and journalist. He can be reached at [email protected], Twitter: @wole_olaoye; Instagram: woleola2021)

Seizures increased by 187% compared to the previous year. But that doesn’t mean what you might think.


“Most importantly, over 90% of foreclosed borrowers have positive equity in their homes and would benefit from selling those properties for a profit rather than risk losing it all to a foreclosure auction or repossession. possession by a lender,” said Rick Sharga, executive vice president of the market. information to ATTOM.

Getty Images/iStockphoto

Foreclosure begins – that is, when the first public foreclosure notice occurs – has reached pre-pandemic levels nationwide, with lenders beginning the foreclosure process on 23,952 US properties in August 2022, up 12% from the previous month and up 187% from a year ago according to data from ATTOM, a real estate data company. (You can find the lowest mortgage rates you can get here.)

But why are foreclosure rates so much higher right now than they were a year ago? “Foreclosure statistics were artificially low during the pandemic due to foreclosure moratoriums and mortgage forbearance options. Now that these have expired and foreclosures have resumed, this only seems significant due to the artificially low levels of a year ago, as the current level of foreclosures has only returned to levels of before the pandemic,” says Greg McBride, chief financial analyst at Bankrate.

Other factors, such as high inflation eating away at household budgets, have also contributed to higher foreclosure rates, says Jacob Channel, senior economist at LendingTree. “It is important to note that foreclosure rates are only increasing to the extent that they were so low for much of 2020 and 2021. Currently, foreclosure levels are still lower than they were in 2019, even in the face of recent negative developments like high inflation,” explains Canal.

The number of foreclosure completions has also increased, with lenders repossessing nearly 4,000 properties in August 2022, up 59% from the same period last year. But adds Rick Sharga, executive vice president of market intelligence at ATTOM: “Most importantly, more than 90% of foreclosure borrowers have positive equity in their homes and would benefit from selling those properties for a profit rather than risk losing everything at a foreclosure auction. or repossession by the lender. » (You can find the lowest mortgage rates you can get here.)

What to know if you’re considering buying a foreclosure

Foreclosed homes can be good affordable investments for many buyers. But at the end of the day, buyers shouldn’t let a low price on a foreclosed property convince them to rush in and make an offer without doing any research. “Before you do anything, make sure you have a good idea of ​​the state of the house and whether it’s occupied or not,” says Channel.

Indeed, “a home that has found itself in foreclosure may have been vacant for several months or may have had neglected routine upkeep and maintenance for the past two years. Insist on a thorough inspection to uncover any issues that may not may not be immediately apparent,” says McBride.

To find foreclosure listings, visit HomePath.com, a site owned by Fannie Mae that offers listings of thousands of homes in foreclosure, or HomeSteps.com, a site owned by Freddie Mac. Realtor.com and Zillow also offer a foreclosure search filter to find pre-foreclosure homes and those already owned by a bank. Some bank websites, such as Wells Fargo and Citi, also list properties in foreclosure, although interested parties should contact the listing agents associated with the properties they are interested in.

Any advice, recommendations, or rankings expressed in this article are those of MarketWatch Picks, and have not been reviewed or endorsed by our business partners.

Research: Rating Action: Moody’s assigns ratings to three classes of notes issued by HalseyPoint CLO 6, Ltd.


New York, September 16, 2022 — Moody’s Investors Service (“Moody’s”) has assigned ratings to three classes of bonds issued by HalseyPoint CLO 6, Ltd. (the “Issuer” or “HalseyPoint CLO 6”).

Moody’s rating action is as follows:

$300,000,000 A-1 Class Floating Rate Senior Secured Notes Due 2034, Allocated Aaa (sf)

$25,000,000 A-2 Class Floating Rate Senior Secured Notes Due 2034, Allocated Aaa (sf)

$18,750,000 Class C secured floating rate mezzanine notes due 2034, assigned A3(sf)

The Notes listed above are referred to herein, collectively, as the “Rated Notes”.


The justification of the ratings is based on our methodology and takes into account all the relevant risks, in particular those associated with the portfolio and the structure of the CLO.

HalseyPoint CLO 6 is a managed cash flow CLO. The Notes issued will be secured primarily by extensively syndicated senior secured corporate loans. At least 90% of the portfolio must be comprised of senior secured loans and qualifying investments, and up to 10% of the portfolio may be comprised of junior loans, unsecured loans, senior secured bonds , senior secured bonds, high yield bonds and unsecured loans. Bonds, provided that no more than 5% of the Portfolio may be comprised of Senior Secured Bonds, Senior Secured Notes, High Yield Bonds and Debentures. The portfolio is increased by approximately 97% on the closing date.

HalseyPoint Asset Management, LLC (the “Manager”) will direct the selection, acquisition and disposition of assets on behalf of the Issuer and may engage in trading activities, including discretionary trading, during the period of four-year reinvestment of the transaction. Thereafter, subject to certain restrictions, the Manager may reinvest unscheduled principal payments and proceeds from the sale of credit risk assets.

In addition to the Rated Notes, the Issuer has issued four other categories of guaranteed notes and one category of subordinated notes.

The transaction incorporates interest and face value coverage tests which, if triggered, divert interest and principal proceeds to repay the notes in order of seniority.

Moody’s modeled the transaction using a cash flow model based on the binomial expansion technique, as described in section of the rating methodology “Moody’s Global Approach to Rating Collateralized Loan Obligations”. published in December 2021.

For modeling purposes, Moody’s used the following basic assumptions:

Nominal amount: $500,000,000

Diversity score: 75

Weighted Average Rating Factor (WARF): 2855

Weighted Average Deviation (WAS): SOFR+3.75%

Weighted average coupon (WAC): 6%

Weighted average recovery rate (WARR): 47%

Weighted Average Life (WAL): 7.1 years

Methodology underlying the rating action:

The main methodology used in these ratings is “Moody’s Global Approach to Rating Collateralized Loan Obligations” published in December 2021 and available on https://ratings.moodys.com/api/rmc-documents/74832. Otherwise, please see the Scoring Methodologies page on https://ratings.moodys.com for a copy of this methodology.

Factors that would cause ratings to be upgraded or downgraded:

The performance of the Rated Securities is subject to uncertainty. The performance of Rated Notes is sensitive to the performance of the underlying portfolio, which in turn depends on changing economic and credit conditions. The Manager’s investment decisions and the management of the transaction will also affect the performance of the Rated Notes.


For details on key rating assumptions and Moody’s sensitivity analysis, see the Methodological Assumptions and Sensitivity to Assumptions sections in the Disclosure Form. Moody’s rating symbols and definitions can be found at https://ratings.moodys.com/rating-definitions.

Further information on representations, warranties and enforcement mechanisms available to investors can be found at https://ratings.moodys.com/documents/PBS_1339705.

The analysis relies on an assessment of the characteristics of the collateral to determine the distribution of collateral losses, ie the function correlated to an assumption about the probability of occurrence of each level of possible collateral losses. Secondly, Moody’s assesses each possible collateral loss scenario using a model that reproduces the relevant structural characteristics to deduce the payouts and therefore the ultimate potential losses for each rated instrument. The loss incurred by a rated instrument in each collateral loss scenario, weighted by assumptions about the likelihood of events in that scenario occurring, results in the expected loss of the rated instrument.

Moody’s quantitative analysis involves an evaluation of scenarios that focus on factors contributing to rating sensitivity and consider the likelihood of material collateral losses or impaired cash flows. Moody’s weights the impact on rated instruments based on its assumptions of the likelihood of events in such scenarios occurring.

For ratings issued on a program, series, category/class of debt or security, this announcement provides certain regulatory information regarding each rating of a subsequently issued bond or note of the same series, category/class of debt, security or under a program for which ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a media provider, this announcement provides certain regulatory information relating to the credit rating action on the media provider and each particular credit rating action for securities whose credit ratings are derived from the support provider’s credit rating. For the provisional ratings, this press release provides certain regulatory information relating to the provisional rating assigned, and to a final rating that may be assigned after the final issuance of the debt, in each case where the structure and conditions of the transaction n have not changed prior to the final rating being assigned in a way that would have affected the rating. For more information, please see the issuer/transaction page of the respective issuer at https://ratings.moodys.com.

For all relevant securities or rated entities receiving direct credit support from the lead entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action , the associated regulatory information will be that of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to the jurisdiction: Ancillary services, Disclosures to the rated entity, Disclosures to be provided by the rated entity.

The ratings have been disclosed to the rated entity or its designated agent(s) and issued without modification as a result of such disclosure.

These notes are solicited. Please refer to Moody’s Policy for the Designation and Assignment of Unsolicited Credit Ratings available on its website. https://ratings.moodys.com.

The regulatory information contained in this press release applies to the credit rating and, if applicable, the outlook or rating revision relating thereto.

Moody’s general principles for assessing environmental, social and governance (ESG) risks in our credit analysis are available at https://ratings.moodys.com/documents/PBC_1288235.

The worldwide credit rating on this credit rating announcement was issued by one of Moody’s affiliates outside the EU and is approved by Moody’s Deutschland GmbH, An der Welle 5, Frankfurt am Main. -le-Main 60322, Germany, in accordance with Article 4(3) of Regulation (EC) No 1060/2009 on credit rating agencies. Further information on the EU approval status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

The worldwide credit rating on this credit rating announcement has been issued by one of Moody’s affiliates outside the UK and is approved by Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the United Kingdom. . Further information on the UK endorsement status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

Please see https://ratings.moodys.com for any updates on changes to the lead rating analyst and Moody’s legal entity that issued the rating.

Please see the issuer/transaction page at https://ratings.moodys.com for additional regulatory information for each credit rating.

Jun Kim
Senior Vice President
Structured Finance Group
Moody’s Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
JOURNALISTS: 1 212 553 0376
Customer service: 1 212 553 1653

Elina Kolmanovskaya
Vice President – Senior Analyst
Structured Finance Group
JOURNALISTS: 1 212 553 0376
Customer service: 1 212 553 1653

Release Office:
Moody’s Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
JOURNALISTS: 1 212 553 0376
Customer Service: 1 212 553 1653

Borrowing and Renting in the Metaverse: The Disputes Are Still Ahead


Second Life, which was made virtual by Linden Lab in 2003, is widely recognized as the first “metaverse” in which individuals could acquire, build and, if desired, sell virtual land. Coming to life long before the advent of cryptocurrency, the kingdom’s currency was the US dollar, and land could be acquired through auctions held by Second Life. In 2006, Second Life concluded that an avatar named Marc Woebegone had found a way to hack an auction and acquire a property below market value. Second Life took over the land and all the other virtual lands belonging to Woebegone, in a jiffy, thus carrying out the first ever non-judicial virtual seizure.
Bragg vs. Linden Lab, 487 F. Supp. 2d 593 (ED Pa. 2007). The case ended up being settled.

Nearly 20 years later, since Second Life welcomed its first resident avatars, it seems inevitable that if the Metaverse succeeds to the degree that JP Morgan and many others hope, virtual land disputes will only become more common. For example, TerraZero Technologies, founded in 2021, promotes that it “owns, acquires, leases, and develops real estate across multiple metaverses” (including Decentraland, where there are currently around 200 properties), while offering “a full-service real estate, including buying, leasing, building, tenant representation, and premium brokerage services.” TerraZero rents and sells its land to individuals and businesses.

Interestingly, TerraZero deliberately attributes many of the characteristics of traditional real estate to its properties, i.e. “LAND is a non-fungible digital asset maintained in an Ethereum smart contract. divided into parts are referenced using unique Cartesian x,y coordinates,” and “each LAND token includes a record of its coordinates, owner, and reference to a content description file or parcel manifest that describes and encodes the content that the owner wishes to broadcast on his land.” In other words, just like in real life, the land is intended to be unique and bears a title similar to that found in a traditional deed. Unlike the owner of Second Life, who said, “You have to remember this stuff isn’t real. It’s a computer game,” TerraZero and others view their land as more than just a game. Evans v. Linden Research2012 WL 5877579, at *2 (ND Cal. 20 November 2012).

Indeed, TerraZero will lend US dollars to individuals and businesses to enable them to purchase property. To secure these loans, NFTs are pledged by the borrower as collateral. Once the debt is paid, TerraZero returns the NFTs to the borrower. It is not clear from the website whether a landlord can sell the land subject to a mortgage or whether they can borrow more against the property and grant security to a third party, who would potentially have their own recourse rights in the event of default. .

Not the same

Presumably, there will come a time when a TerraZero borrower defaults and challenges the forfeiture of their collateral and loss of rights to the property. Although the “land” is given the attributes of traditional real estate, it is hard to believe that a court will find the land so similar to virtual real estate that it will compel TerraZero to initiate the notice and other related proceedings. in judicial or non-judicial proceedings. foreclosures, since the property does not exist in any particular state and the rules of traditional foreclosure would be difficult to apply sensibly in the virtual world.

But it is much more difficult to know if the requirements of Article 9 of the Uniform Commercial Code (UCC or Code) must be followed if TerraZero flips the switch, extinguishes the rights of its borrower and declares ownership of the NFTs it held as collateral. Do the Code’s notification requirements (which differ depending on whether the borrower is a consumer or a business), redemption requirements and collateral sale rules apply? It is only a matter of time before these arguments are made, and although in traditional contracts some elements of the UCC may be waived by agreement, the applicable laws are generally not waived under state law.

Equally certain is the possibility of a dispute if TerraZero decides that a tenant has breached their lease and “evicts” (again, at the flick of a switch) their tenant. Would the higher protections, such as laws prohibiting debt acceleration, offered by many states to individual tenants in the real world apply? Would a persistent coding error violate a virtual implicit commitment to habitability? And on an even more basic level, will leases be subject to the many requirements (font size, etc.) that apply in the real world?

It seems likely that virtual property owners, landlords and brokers will argue that despite the nomenclature resembling real estate in the non-virtual world, their arrangements are subject to their terms of use, and the state laws that govern the sale and rental of real estate simply do not apply. However, many questions remain unanswered, including whether the terms of service should distinguish between consumers and commercial entities in the manner often required by Article 9. But like the housing market in Decentraland and other metaverses like heat up, he probably won’t be fine before a brick-and-mortar court takes place.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

Promenade Shops at Centerra put up for sale – Loveland Reporter-Herald


Centerra’s Promenade Shops, with its history of retail success amid foreclosures and lawsuits, are up for sale – and a Loveland town official hopes the result will offer a chance to seize the opportunity to offer people not only purchases but also experiences.

“Typically, we rely on the landlord or real estate company to be proactive in getting those experiences here,” said Kelly Jones, Loveland’s director of economic development, “but our next strategic plan, which will be rolled out the next week makes us be much more proactive in this space instead of just relying on developers and others to pursue it.

For Loveland, Jones said, it’s “an opportunity for more retail and experiential retail that would be wonderful. People appreciate places where they can go out and not just shop, but experience – like playing pickleball while eating chicken, or a ‘dog club’ where you can bring your dog but also eat and drink We’ve spoken to quite a few parties over the past year and a half that have a lot of thoughts on how they would like it rearranged.

The Denver office of CBRE Advisors lists the sale, though its promotional materials do not mention a sale price for the 493,172-square-foot mall, and company officials would not discuss a price with BizWest. A commercial real estate agent who spoke to BizWest on condition of anonymity said that sometimes fixed selling prices are not set for such projects and the listing agent simply waits for offers.

But its marketing already touts “northern Colorado’s mainstream shopping destination” as already being “dog-friendly” and offering “more than just shopping.” It’s an experience and a gathering place for the community,” the sales verbiage reads. “The unique outdoor experience encourages people to relax, have fun and stay a while.”

Located northeast of the Interstate 25-US Highway 34 interchange, the center is exposed to 140,000 vehicles per day and 58,231 residents live within three miles, with an average household income of $133,627, according to information from CBRE.

The Promenade Shops, the centerpiece of the Centerra mixed-use development, includes major retailers such as Macy’s, Best Buy, Dick’s Sporting Goods and Barnes & Noble, as well as a Metrolux multi-screen cinema, several chain restaurants and numerous small stores with familiar national and regional brands such as Yankee Candle, Banana Republic and Famous Footwear. Of its 93 units, the CBRE brochure says 10 units are available for rent, including one space of 10,485 square feet, as well as two blocks of 10,000 and 7,651 square feet.

The mall’s listing for sale comes just two months after the conclusion of an 11-year legal battle over a partnership deal that went awry in the management and ownership of the mall. It ended with a “Satisfaction of Judgment” notice filed with the US District Court for the District of Colorado.

In May 2021, McWhinney Holding Co. LLLP and related McWhinney entities won a $23.4 million judgment against defendant Terry McEwen, which was amended four months later to add court costs and interest before and after judgment.

This battle began 10 years earlier when McWhinney sued his 50-50 project partners, Poag & McEwen Lifestyle Centers LLC, for their partnership in building and running the Promenade Shops. A series of judgments, appeals and trials followed.

A foreclosure auction took place in May 2021 when a lender attempted to recover nearly $87 million from mall owner DRA Advisors LLC, a New York-based private equity group doing business as from G&I VI Promenade LLC and G&I VI Retail Prom LLC, but there were no auctions.

This was the second time the mall had been seized. The first dates back to 2009, when it was acquired by a Keybank subsidiary for $85 million. DRA Advisors bought the property for $75.5 million months later.

This article was first published by BizWest, an independent news agency, and is published under a license agreement. © 2022 BizWestMedia LLC.

Human rights campaign sends letters to Sen. Toomey asking for his support of ‘respecting marriage law’ as Senate vote nears


Following the U.S. Supreme Court’s overturning of Roe and as Congress considered legislation that would guarantee the rights and benefits of all marriages, the HRC sent letters from Pennsylvanians urging Toomey to support the respect for marriage law.

PITTSBURGH, Pennsylvania—As the U.S. Senate prepares to vote on the bipartisan Respect for Marriage Act before the end of September, the Human Rights Campaign (HRC) today brought the voices of pro-equality Pennsylvanians directly to the desk from Senator Toomey in Pittsburgh, delivering more than 1,500 letters urging the senator to vote “yes” on legislation to codify the right of same-sex and interracial couples to marry. The bill will secure the rights, benefits, and obligations of marriages in federal code, repeal the discriminatory Defense of Marriage Act (DOMA), and affirm that public acts, records, and procedures must be recognized by all states. Senator Toomey is undecided on the bill.

The delivery of the letter builds on growing momentum, as the HRC mobilized more than 220 businesses to support the bill, which passed the House in a vote of 267 to 157, with 47 Republicans voting for. This week, 400 Republican leaders across the country called on the Senate to pass legislation that enshrines the protection of same-sex marriage. The Senate will now need 60 votes in order to defeat a filibuster. According to Gallup, 71% of Americans support same-sex marriage. Twelve of Pennsylvania’s 18 congressmen voted in favor of the bill.

Ryan Matthews, Human Rights Campaign Director for the State of Pennsylvania, said:

“Amid an outpouring of grassroots, corporate and bipartisan support for marriage equality, Senator Toomey’s voters are asking him to side with the 71% Americans and the 69% Pennsylvanians who recognize that LGBTQ+ people are dignified and deserve love and equality, and vote yes on the Respect for Marriage Act With a Supreme Court ready to overturn decades of precedent, now is the time to codify finally marriage equality and ensuring that interracial and same-sex couples have the right to love and marry the person they love.

Below is additional background information about supporting marriage equality in Pennsylvania and across the country, as well as an overview of key provisions of the Respect for Marriage Act.

A majority of Pennsylvanians are pro-Marriage Equality.

  • Pennsylvania is home to more than 3 million voters for equality, a constituency of demographically and geographically diverse people united by the advancement of LGBTQ+ equality. Equality Voters are younger, more racially diverse and more female than the general electorate, they recognize and trust the HRC brand, and they are more likely to identify with issue-specific organizations than to candidates or political parties.

More than two-thirds of Americans support marriage equality.

  • According to Gallup, 71% of Americans support same-sex marriage. The latest PRRI survey this year found that support for marriage equality has increased by 14 percentage points since 2014 (54%). Republicans are now almost evenly split on marriage equality (48% support, 50% opposition), while 81% of Democrats and 73% of independents favor marriage equality. Today, majorities of most religious groups support marriage equality. According to the last census, about 58% (568,000) of couples in the country’s 980,000 same-sex households were married and about 42% were unmarried partners.

The Respect for Marriage Act would ensure that marriage equality is protected nationwide through several provisions:

  • Repealing the Defense of Marriage Act of the 1990s. Adopted in 1996, it discriminated in two important ways. First, Section 2 of DOMA seeks to allow states to refuse to recognize valid civil marriages of same-sex couples. Second, Section 3 of the Act excludes all same-sex couples, regardless of marital status, from all federal laws, regulations, and rulings applicable to all other married people, thereby denying them more than 1,100 benefits and federal protections. DOMA was rendered inapplicable, in two stages, by the 2013 decision of the Supreme Court Windsor v. United States decision and the 2015 Oberfell v. Hodges decision.

  • Establishing this “celebration venue” is the standard for recognition of federal benefits of a same-sex marriage. Under this provision, if marriage equality were to cease to be recognized in a given state, same-sex couples who travel to marry in another state – a state where same-sex marriages are still recognized – would still retain federal marriage benefits.

  • Affirming that public documents, records and procedures must be recognized by all States. Adoption orders, divorce decrees and other public acts must be honored by all states in accordance with the Full Faith and Credit clause of the US Constitution.

The Human Rights Campaign is America’s largest civil rights organization working for equality for lesbian, gay, bisexual, transgender and queer people. HRC envisions a world where LGBTQ+ people are considered full members of society at home, at work and in every community.

Fannie Mae has assessed $604 million multi-family DUS REMIC (FNA 2022-M13) under its GeMS program


WASHINGTON, September 14, 2022 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) at the price of one $604 million Multifamily DHS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on September 8, 2022. FNA 2022-M13 marks the seventh Fannie Mae GeMS issue of 2022.

“The new issue market was packed last week after the summer holidays, so we were pleased that investors were able to focus on the M13 deal with its 10-year fixed-rate, discounted fixed-rate guarantee. “, said Dan dresser, Senior Vice President, Multifamily Capital Markets and Pricing, Fannie Mae. “Spreads on the DUS MBS, which serves as collateral for the GeMS transaction, have remained strong against other asset classes during this volatile year, and investors appreciate the market’s ability to create larger pools and well-diversified DUS MBS through the GeMS re-securitization process.”

All classes of FNA 2022-M13 are guaranteed by Fannie Mae for full and timely payment of interest and principal. The detail of the structure of the multi-tranches offer can be found in the table below:

To classify

original face

Weighted average

Coupon (%)

Coupon Type




















* The spread on FNA 2022-M13 was valued using the SOFR swap curve

Group 1 collateral




65 Fannie Mae DUS MBS

Geographic distribution:

TX (18.54%), CA (16.99%), FL (7.84%)

Weighted average debt service coverage ratio (DSCR):


Weighted average loan-to-value ratio (LTV):


For more information, please refer to the Fannie Mae GeMS REMIC Requirement Sheet (FNA 2022-M13) available on the Fannie Mae GeMS Archive Page.

About Fannie Mae
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Warren warns Navient is taking advantage of borrowers by suggesting student loan refinancing


Sen. Elizabeth Warren (D-Mass.) on Tuesday accused student loan servicing giant Navient of pushing its borrowers to refinance their federal loans into private loans, which would deem them ineligible for a loan forgiveness program offered by the president. Biden.

Under a plan unveiled by the White House last month, people earning less than $125,000 would qualify for a remission of up to $10,000 from federal student loans administered by the US Department of Education. Private student loans are not eligible for federal government forgiveness.

Warren, at a Senate Banking, Housing, and Urban Affairs Committee hearing, said Navient began persuading borrowers to refinance their loans around the time of the White House announcement, in what she characterized as an effort to maintain company profits.

“As families breathe a sigh of relief, the companies that made billions of dollars from a broken student loan system are now setting new traps in a shameless last-ditch effort to try to line their pockets. . Navient, one of the biggest and worst loan managers in the world, is now leading the way,” Warren said.

“It appears that instead of sending information to borrowers to help them get the cancellation they might be entitled to, Navient pushed borrowers into loans that might at best complicate their ability to get a cancellation,” she said.

Warren, along with Rep. Ayanna Pressley (D-Ohio), sent a letter to Navient President and CEO John Remondi asking for clarification on his business practices. Lawmakers asked Remondi how many borrowers received such solicitations, what information they were provided and how they “ensure your borrowers receive accurate and timely information to obtain relief.”

Navient did not immediately respond to The Hill for a request for comment.

Business Insider reported that companies such as Navient have told customers they can refinance their loans with its private arm, sometimes with the promise of lower interest rates. But this could result in loans that might have been eligible for cancellation no longer being owed to the person servicing the loan.

Warren accused Navient of not making it clear to consumers that the change in loan type would result in borrowers not being allowed to participate in the rebate program.

“This is not the first time that Navient has been caught trying to take advantage of borrowers. Between 2009 and 2019, there have been at least 10 incidents where Navient or its predecessor Sally Mae have been charged or sentenced to a fined by federal and state regulators for actions that defrauded borrowers,” Warren said.

Rachel Gittleman, financial services outreach manager for the Consumer Federation of America, said the future of Navient’s business hinges on being able to take “the most creditworthy people” with federal student loans and refinance their loans. in private loans.

“Every borrower who is debt-free as a result of President Biden’s action is one less potential client for Navient,” Gittleman said.

NBC Report: EPA launches investigation into Jackson’s water system


The Environmental Protection Agency sent a team from its inspector general’s office to Jackson to investigate the city’s water management, NBC News reported Friday.

Mayor Chokwe Antar Lumumba said Monday he had few details about what the federal agency was reviewing.

“I don’t have a lot of details about that,” Lumumba told a press briefing. “I had city workers call me and say someone had asked them questions.

“I just shared with them to cooperate. That’s all I know. I don’t know the scope, I don’t know the timeline they’re looking at.

The EPA’s OIG is an independent team that conducts audits and investigations, seeking to “prevent and detect fraud, waste, abuse, mismanagement, and misconduct.” The office is funded separately from the rest of the EPA.

A spokesperson for the agency told NBC News that the investigation will involve a “multidisciplinary” review of recent problems with the capital’s water system.

Last week, EPA Administrator Michael Regan spoke to Mississippi politicians about the availability of federal funds that could help Jackson. Regan did not mention his agency’s investigation.

While it’s unclear who or what specifically is being investigated, the NBC report says the investigation “will begin with conversations with local, state and federal actors who have a role in oversight of public resources dedicated to ensuring that residents have safe drinking water”.

— Article credit to Alex Rozier of Mississippi Today —

3rd Cir. Excludes the house from bankruptcy when the seller in the installment sale contract obtained possession before the petition


The United States Court of Appeals for the Third Circuit recently ruled that because the seller of the house in an installment sale agreement received a possession judgment before the buyer filed for bankruptcy, the house was not part of the buyer’s bankruptcy estate.

A copy of the notice in In re Belarminio Peralta is available on: Link to Reviews.

The buyer here purchased a house through an installment sale agreement with the seller. The buyer stopped paying and the seller sued. To get a second chance, the buyer agreed that if he committed another offense, the seller could get a judgment for possession and evict him immediately. Another breach would extinguish any rights the buyer had to the home.

Nevertheless, the buyer again stopped paying and the seller obtained a judgment of possession. The buyer stayed in the home and filed for Chapter 13 bankruptcy. In the bankruptcy petition, the buyer argued that Chapter 13 allows a bankrupt homebuyer to “heal[]”a ‘default’ on a mortgage during the bankruptcy process until the house ‘is sold in a foreclosure sale‘ 11 USC § 1322(c)(1). Pennsylvania treats foreclosed installment contracts as mortgages, and therefore the purchaser also alleged that the said remedy gave him an interest in his property.

The bankruptcy court accepted the buyer’s theory. The judge held that because the buyer was still living in the property, he still had an interest in the property that was the subject of the installment contract and a remedy under § 1322(c)(1). Thus, the judge-commissioner included the housing of the purchaser in his estate in bankruptcy. 11 USC § 541(a)(1).

On appeal, the trial court reversed the bankruptcy court’s order, finding that because the possession judgment had been entered before the buyer filed for bankruptcy, no recourse under Section 1322 (c)(1) existed and the house was not part of the bankruptcy estate. . The buyer appealed in due time.

Section 1322 of the Bankruptcy Code only allows debtors to cure defaults until their homes are “sold in a foreclosure sale that is conducted in accordance with applicable non-bankruptcy law. “. 11 USC §1322(c)(1).

However, unlike a mortgage in default, a broken installment contract never ends in a foreclosure sale; title remains with the seller until the contract is paid. Thus, to determine whether a §1322(c)(1) remedy existed here, the Third Circuit needed an analog of a foreclosure sale applicable to installment contracts.

The Third Circuit adopted the hammer rule to define a “foreclosure sale.” According to the hammer rule, although legal interest passes upon issuance of the deed, a property is “sold” as soon as there is a new equitable owner. In re Connors, 497 F.3d 314, 320-21 (3d Cir. 2007). This sale occurs when a bidder wins an auction. Thus, a property is “sold in a foreclosure sale” as soon as the hammer falls. Identifier.

In re Connors thus links the “foreclosure sale” to the transfer of equitable ownership. The Court here determined that the installment contract analog of a foreclosure sale is when a default removes equitable title from the bankrupt homebuyer. Under Pennsylvania law, this occurs when a judgment for possession is entered against the home buyer. See In re Butko624 BR 338, 378–80 (Bankr. WD Pa. 2021) (analyzing state law similar to §1322(c)(1)).

Thus, the Third Circuit concluded that when the buyer filed for bankruptcy months after the seller had obtained a judgment of possession, the buyer had already lost his equitable interest in the house and the house was not part of his bankruptcy estate. 11 USC §541(a)(1). The analog of a foreclosure sale had passed, and it was too late to heal. And although the buyer had always lived in the house, he had no other bona fide claim to possession.

Accordingly, the Third Circuit accepted the trial court’s assessment that the buyer’s effort to use §1322(c)(1) came too late, and the court upheld the court’s decision. of first instance.

Dave Nadig interviews Meow CEO Brandon Arvanaghi


VettaFi financial futurist Dave Nadig interviewed Meow CEO Brandon Arvanaghi for Future Proof’s September 11 event, “A New Approach to Short-Term Cash Management”.

The search for yield is a goal as old as investing itself. As technology evolves, new opportunities for returns abound. Nadig noted that as a financial futurist, it’s his job “to try to understand what’s interesting, new and different that changes the way we think about our work today.”

It is still not easy to buy single treasury bills. Fixed income is one of the most archaic corners of the financial world. Meow strives to bring fixed income, crypto, traditional finance, and everything an investor might want to access in one place.

Arvanaghi sees that taking a first-person account for certain institutions’ numbers can often be “an IQ test,” but noted optimistically that “this industry is maturing before your eyes.”

Certain protocols can help the DeFi space stay liquid and avoid meltdowns. Arvanaghi said, “If I want to borrow USDCI should pledge ether or bitcoin first, but I should pledge more than what I actually bought.

Meow’s platform offers granularity on a dashboard, with marginal transaction fees, making it easier for investors to access Treasuries. It offers companies the opportunity to put their idle cash to work, taking advantage of the regular returns of Treasury bills.

Arvanaghi thinks a lot more crypto is now guaranteed after some high-level challenges. “The unsecured loan market will come back, but it will take some time,” he said. “Right now, there is a lack of confidence.”

He also considers that some institutions are comfortable with the risk/reward profile of oversized moves. “The less liquid an asset is, the more collateral is needed.”

Nadig asked what is happening in the crypto space with the upcoming Ethereum merger and possible regulation. Arvanaghi said some regulations are needed for obviously fraudulent actors. “Regulation can only help in my opinion.” He sees crypto two or three years away from the registration of any lending platform, as SECOND Chairman Gensler doesn’t seem to be in a rush to further legitimize the crypto space.

For more news, insights and strategy, visit the Crypto Channel.

Association pleads with wheat farmers to repay loan from FG anchor borrowers – Nigeria – The Guardian Nigeria News – Nigeria and World News


The Wheat Growers Association of Nigeria (WFAN), a branch of Bauchi State, has urged 2021/2022 dry season farmers who have secured loans under the Bank’s Anchor Borrowers Scheme Central Nigeria (CBN) to be repaid after harvest.

CBN, in collaboration with WFAN, had by January provided inputs to thousands of wheat farmers. These included: seeds, fertilizers, herbicides, sprayers and water pumps.

The association’s president, Mohammed Juli Adamu, said WFAN had received assurances from the Federal Ministry of Agriculture and CBN, co-sponsors of the dry season agriculture initiative, that the government would not relax. not the promotion of agricultural production in the country.

Adamu, while briefing reporters in Bauchi yesterday on the association’s activities in the state, said that given the resolve between the government and the country’s flour companies in favor of supplying quality wheat seed, the government has no choice but to encourage farmers to grow wheat.

He said: “With the purchase of quality wheat seed last year by CBN and the subsequent bumper wheat harvest by farmers in wheat producing states, the government is truly encouraged to support the farmers in every possible way, to improve the production of the commodity on a large scale.

He described wheat farming as a very profitable business worth millions of naira.

He called on Bauchi wheat farmers, especially those who have yet to repay the loan, to speed up the repayment as preparations for the next crop year have reached an advanced stage.

The president warned that any defaulting farmer would bear the consequences, including legal action.

5 signs your brain is “covered in plaque buildup” – Eat This Not That


The buildup of amyloid plaque in the brain is strongly associated with Alzheimer’s disease. Identifying early symptoms could therefore be the key to effective treatment. “Alzheimer’s disease is a neurodegenerative disease, so at the end you can see a lot of loss of neurons,” says Wen-Chin “Brian” Huang, PhD. “At this stage, it would be difficult to cure the symptoms. It is really essential to understand which circuits and regions show neural dysfunction early in the disease. This in turn will facilitate the development of effective therapies. Here are five signs of amyloid buildup, according to experts. Read on and to ensure your health and the health of others, don’t miss these Sure signs you’ve already had COVID.

According to doctors, mild cognitive impairment (MCI) is one of the earliest and most common signs of Alzheimer’s disease. “The most common sign is a problem with memory, and it’s usually episodic, which means it’s hard to remember events in your life, past and present,” explains Dr. David Caplanprofessor of neurology at Harvard Medical School.


Unexplained personality changes are another early sign of neurological issues, especially depression, apathy, self-centered behavior, and rigidity. “Behavioral changes are very common and affect more than 95% of people with dementia,” says Ganesh Gopalakrishna, MD. These symptoms may be present 10 to 15 years before memory loss occurs.