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...Blackstone Mortgage Trust said in an emailed statement: “This report is highly misleading and represents a fundamental misunderstanding of our senior secured lending business.”...
...The new policy covers apps offering personal, payday and peer-to-peer loans, but not mortgages, car loans or credit cards....
...Five years ago, one in 20 of the mortgages Harris arranged was to older borrowers seeking equity release; now the proportion is one in five, with a “massive pick-up” in clients over 70....
...By 2011 and with the economy in recovery, there were no longer any bargains in mortgage-backed securities....
...A servicer is responsible for collecting payments from borrowers. Should borrowers fail to make a payment, a special servicer steps in to get the borrower paying again or foreclose....
...Midcap has honoured its commitments to dozens of borrowers, allowing them to draw down on life-saving credit lines, while Athene in mid-March provided a $133m mortgage to fund a developer’s purchase of a...
...It is not clear that borrowers and lenders will embrace the new player when the old star is retired. Patriots coach Bill Belichick has been sanguine about replacing Brady....
...Founded in 2011, SoFi started offering student loans to alumni of the top US universities, betting that these were especially creditworthy borrowers and offering them low rates....
...Payment Protection Insurance policies were often added to loans, credit cards and mortgages from the late-1990s, with sales peaking in 2004....
...Since 2014, every mortgage lender also has had to take account of a borrower’s ability to repay the loan....
...If borrowers default, Fannie and Freddie potentially have to cover big chunks of the losses....
...Provisions against terrorism financing in the Patriot Act, passed in the aftermath of the September 11 2001 attacks, obliged mortgage lenders to conduct “know your customer” research....
...Northview, which has £5.8bn in loans on its books, targets borrowers who struggle to arrange credit from traditional high street lenders....
...guidance — issued by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve — was designed to address an apparent rise in practices reminiscent of the mortgage...
...The value of so-called trophy assets, which tend to be sliced up and sold to investors in single borrower bonds, has not suffered as much as that of conduit deals which place a variety of commercial mortgage...
...S&P defines these “weakest links” as borrowers with junk bonds rated B-minus or lower and at risk of further downgrade....
...into new lines such as car loans and mortgages in his quest to “transform the entire banking industry.”...
...The company allows borrowers to update credit scores in real-time and hopes to launch its first product, the mPowerCredit platform, in 2016....
...The amount of non-performing loans, where the borrower is not paying interest or any of the capital, also declined last year....
...Last year it became the first US-based P2P lender to offer home mortgages and also was the first to obtain a credit rating from a major rating agency for a securitised bundle of its student loans....
...Technology and big data are what enable that,” says Joshua Rand of Petra Partners LLC....
...This is less favourable than a mortgage loan because it ties up other assets and may deprive the borrower of tax deduction for mortgage payments (although they are not likely available)....
...SoFi has already begun a pilot programme to extend mortgages to borrowers on its platform, Mr Cagney said....
...The CFPB has also targeted non-bank mortgage servicers such as Ocwen Financial over concerns about the treatment of ‘underwater borrowers’, or borrowers whose mortgages are larger than the value of their...
...In some cases, US borrowers have placed a greater emphasis on making their car payments than remaining current on their mortgages....
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