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The FICO rating system has several shortcomings in predicting a borrower's creditworthiness. VantageScore provides a good alternative and is increasingly being used by lenders and financial institutions as a replacement.
VantageScore Makes Inroads Into Fico Territory -
The commercial property market saw a drop in January for the first time since 2010. The Moody/RCA Commercial Property Price Index fell 0.3% from the previous month, led by decreases in office and industrial buildings, each of which shed over 1%.
Commercial Real Estate Faces Downturn -
Having lost Costco's co-branded card business after a 16-year tie-up, American Express is now trying to increase volumes in the small business lending area and will feature its charge card, OPEN, on the Fundera marketplace.
American Express Targets Small Businesses After Costco Split
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In a recent speech, Neel Kashkari, the new president of the Federal Reserve Bank of Minneapolis, questioned whether the steps taken after the 2008 financial crisis have adequately addressed the issue of too big to fail (TBTF) banks. According to him, much more needs to be done to reduce the risk to the economy.
Too Big To Fail-–Banking’s Unresolved Problem -
While negative interest rates on borrowings seem counter-intuitive, they are gaining greater acceptance among central banks in the developed world but their impact on financial markets is yet to be fully understood.
Why Negative Interest Rates Are a Reality -
The ultimate success of a bank or a commercial lender is dependent to a great extent on how well it manages credit risk, which in turn is strongly influenced by the stand its leadership takes and the training of its staff
Lenders Need to Build a Strong Credit Culture
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American Trust Bank announced the appointment of Mark L. Smith as the new President and Chief Financial Officer.
Mark Smith Named President of American Trust Bank -
Tuscaloosa-based Alabama One Credit Union announced that Jason Halperin has joined the business as Chief Lending Officer.
Jason Halperin Hired as CLO at Alabama One CU -
Bank of the West announced that Taralee Muhli has joined the business as VP, SBA Business Development Officer.
Taralee Muhli Joins Bank of the West as VP/SBA BDO -
Gateway State Bank in Clinton, Iowa announced the appointment of commercial lender Michael R. Stamp as its President.
Mike Stamp Named President of Gateway State Bank -
Arizona-based Horizon Community Bank has promoted Scott Dickman to Market President of Greater Maricopa County.
Scott Dickman Promoted at Horizon Community Bank -
H.I.G. WhiteHorse announced that Stuart Aronson has joined the company as group head of its U.S. Direct Lending team.
Stuart Aronson Named Lending Chief at WhiteHorse
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The loan officer of a real estate and mortgage lending firm in Sacramento has pleaded guilty to concealing a mortgage fraud conspiracy.
Parada-Renteria Pleads Guilty to Mortgage Fraud Conspiracy -
In order to save his failing business, Kreider engaged in a fraudulent practice known as “straw borrowing.”
Kreider Gets 37 Months Sentence in Alton Credit Union Fraud -
A former Monroeville mortgage broker has been sentenced to 17 years in prison for defrauding more than 40 people in an elaborate loan scheme.
David Jackson gets 17 Years Sentence for Mortgage Fraud
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Many lenders aren’t good at networking, not so much because of shyness or the lack of any social graces, but rather they just don’t recognize what success means in networking. If, you’re looking for instant karma or the ‘peel & win’ Lotto card, and that’s rarely--very rarely--going to happen.
Lenders, You Might Be Bad at Networking, If… -
Charles Green provided a detailed--but brief-- explanation of calculating financing costs in alternative financing deals, converting total costs into a comparative APR format, for about 100 restaurant owners.
Charles Green addresses 2015 RFDC in Las Vegas -
SBFI Managing Director Charles Green announced that SBFI was named among MarketStreet Funders “Top 50 Small Business Finance Influencers,” which was announced Friday by the MarketStreet’s website. The company is based in Wilmington DE.
SBFI Named Among Top 50 MSF Small Business Finance Influencers
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