Pitfalls of using alternative mortgage lenders

Pitfalls of using alternative mortgage lenders

Since the Office of the Superintendent of Financial Institutions' mortgage stress test was implemented in January, the founder of the Mortgages of Canada brokerage has seen “a huge influx” of Canadians who fail to qualify for a bank mortgage turning to alternative lenders that range from risky loan
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4 businesses pick up Austin Gives corporate philanthropy awards

Sixteen award finalists in four categories were recognized, and Gary Farmer, president of Heritage Title Company of Austin Inc. and chairman of the Opportunity Austin 4.0 capital campaign to enhance economic development in the region, received the 2018 Bobby Jenkins Philanthropic Leadership
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Comedian Byron Allen Just Bought the Weather Channel for $300 Million

Producer Byron Allen attends the Premiere Of Dimension Films' “47 Meters Down” at Regency Village Theatre on June 12, 2017 in Westwood, California. Michael Kovac—WireImage/Getty Images. By Bloomberg. 4:11 PM EDT. Comedian and producer Byron Allen acquired the Weather Channel TV
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Illumina (ILMN) Shares Bought by Ladenburg Thalmann Financial Services Inc.

Axiom International Investors LLC DE lifted its position in Illumina by 60.9% in the 3rd quarter. Axiom International Investors LLC DE now owns 186,457 shares of the life sciences company's stock worth $37,142,000 after buying an additional 70,572 shares in the last quarter. Virtu Financial LLC bought a
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Rising demand is changing the housing market across Central Ohio

The number of homes and condos for sale declined in February, marking the 85th consecutive month of falling stock. Columbus Realtors showed just 3,376 homes and condos for sale in Central Ohio, slightly below the month before. In 12 months, the inventory on the market has decreased by 21
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Citigroup Becomes First Major Bank to Restrict Some Gun Sales

Citigroup wasn't involved on any debt offerings for publicly traded firearms manufacturers since the Newtown shooting in 2012, according to data compiled by Bloomberg. And among the largest big-box retailers of guns — a group that includes Bass Pro Shops and its subsidiary Cabela's Inc., Big Five
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Short supply: St. Louis residential market is the tightest in over a decade

Teri Nicely and her husband thought nothing of it when they offered to let their friends stay with them while the friends looked for a new home. “They could have easily moved in with one of their kids, but it was our idea,” said Nicely, a longtime realtor with RedKey Realty Leaders who handled $13 million
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Russians increasingly invest in resort real estate

It is noteworthy that this trend has not affected all segments of the market. So, in 2017 housing of economy and business classes for the first time in the recent years has experienced a decline. While real estate in the elite segment is even more in demand than before — an increase accounted for 30%.
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Addleshaw Goddard takes six-partner Manchester real estate team from Irwin Mitchell

Addleshaw Goddard has hired six partners from Irwin Mitchell to bolster its Manchester real estate team. The partners include Irwin Mitchell's Manchester real estate head Anita Weightman, alongside real estate partners Paul Barnard, Patrick Duffy, Chris Perrin, Tony Weightman and Emily Williams.
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Analyst Activity – National Securities Reiterates Buy on TPG Specialty Lending (NYSE:TSLX …

On 2/22/2018 TPG Specialty Lending (NYSE:TSLX) announced a quarterly dividend of $0.39 8.52% with an ex dividend date of 3/14/2018 which will be payable on 4/13/2018. On 11/8/2017 TPG Specialty Lending (NYSE:TSLX) announced a quarterly dividend of $0.39 7.5% with an ex dividend date of
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Trump Lawyer Resigned After Friction Over DiGenova, Sources Say

John Dowd resigned as Donald Trump's attorney amid friction over the hiring of Joseph diGenova, a vocal critic of the Russia probe who has attacked the FBI and the Justice Department, according to three people familiar with the matter. Dowd, who had been Trump's lead lawyer against Special
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China's Banks Eye Capital Raising, Earnings Lift as They Shed Bad Loans

Should provisions be cut to 120 percent, banks' collective net profit could increase by 1 trillion yuan, or 57 percent from 2017 levels, according to estimates by analysts at Guotai Junan Securities. “Loan re-pricing and stabilized impairment charges will help ease pressure on profitability for big banks this
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KB Home Reports 2018 First Quarter Results

… tax benefits associated with purchasing and owning a home, and the standards, fees and size limits applicable to the purchase or insuring of mortgage loans by government-sponsored enterprises and government agencies), the homebuilding industry, or construction activities; changes in existing tax
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US weekly jobless claims up slightly; leading indicator rises

The FHFA's index is calculated by using purchase prices of houses financed with mortgages sold to or guaranteed by mortgage finance companies Fannie Mae or Freddie Mac. “While this may overstate the underlying trend given that it is stronger than several other related measures, most measures of
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FHFA House Price Index (HPI) Rose 0.8% Monthly, 7.3% Annually in January

The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. The HPI includes house price figures for the nine Census Bureau divisions, for the 50 states and the District of Columbia, and for Metropolitan Statistical
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Private banking: Trust first, then digitalisation

An industry conference, organised by InFinance and hosted by the Hotel Royale on Tuesday 20 March 2018, was opened by Jonathan Prince, co-founder of Finologee, who remarked that private banking is an activity that is not “digi-averse”. Although he did admit that digitalisation will present new
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First-mortgage default rate holds steady despite rate increases

The recent increases in mortgage rates do not appear to be influencing the default rate of first mortgages, according to S&P Dow Jones Indices. The first-mortgage default rate continues to remain stable, remaining unchanged at 0.72% compared to January. Compared to the year-ago period, the default
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Here's Why Bruce Springsteen Decided to Extend His Broadway Run

The Boss has announced a third extension to his perennially sold out Springsteen on Broadway show, which will keep him playing the Manhattan gig through Dec. 15, 2018. What's the appeal of Broadway vs. a stadium tour, though? For Springsteen, it could come down to a few factors.
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Video Games Can Now Have Hyper Realistic Characters Thanks to New Graphics Tech

Siren, a hyper-realistic digital human, shows how close game makers are to crossing the uncanny valley. Courtesy of Cubic Motion. By Chris Morris. 11:26 AM EDT. Video game characters look a lot more realistic than they did five years ago thanks to graphical advances, but a new technology has
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Credit Review Office urges banks to improve engagement with small and medium sized firms to …

The head of the CRO John Trethowan said he has feedback from small business owners which suggests “accountants and financial debt advisers are now more likely to advise clients to consider all other alternatives before seeking or increasing bank lending”. As a result, he said, “expansion plans are
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