New Jersey Loans – Sun National Bank Center http://sunnationalbankcenter.com/ Sat, 18 Sep 2021 00:31:31 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://sunnationalbankcenter.com/wp-content/uploads/2021/05/sun-national-bank-center-icon-150x150.png New Jersey Loans – Sun National Bank Center http://sunnationalbankcenter.com/ 32 32 NJ restaurants demand new round of aid as pandemic struggles continue https://sunnationalbankcenter.com/nj-restaurants-demand-new-round-of-aid-as-pandemic-struggles-continue/ https://sunnationalbankcenter.com/nj-restaurants-demand-new-round-of-aid-as-pandemic-struggles-continue/#respond Sat, 18 Sep 2021 00:31:31 +0000 https://sunnationalbankcenter.com/nj-restaurants-demand-new-round-of-aid-as-pandemic-struggles-continue/

Ehren Ryan was one of the lucky ones.

Its Common Lot restaurant in Millburn was one of 3,086 restaurants, bars and other dining establishments in New Jersey receiving a total of $ 913.5 million through the Small Business Administration’s Restaurant Revitalization Fund.

The money helped him retain his staff and pay the bills even as business dwindled due to the Coronavirus pandemic, he said.

But many others weren’t so lucky. The restaurant fund ran out of money before 4,706 other New Jersey dining establishments could get federal aid.

Ryan said he hopes there will be a new round of restaurant aids.

“To be honest I think it would be great,” he said. “Lots of restaurants missed.”

Legislation from Congress would add an additional $ 60 billion to the fund, which previously provided $ 913.5 million to 3,086 New Jersey businesses through the Small Business Administration.

It comes at a time when restaurant employment fell in August for the first time since December 2020, by industry occupational group, the National Association of Restaurateurs.

“The small gains our industry has made in financial security risk being wiped out, dashing the hopes of communities, entrepreneurs and consumers nationwide,” said Sean Kennedy, executive vice president of public affairs of the group of restaurants.

The restaurant fund was created under the same $ 1.9 trillion coronavirus stimulus bill, passed unanimously by the Republican opposition, which also handed out $ 1,400 checks to many Americans .

Nationally, 278,304 companies requested $ 72.2 billion, but there was only $ 28.6 billion available to help 101,004 eligible establishments.

“There is a strong unmet demand,” said Veronica Pugin, senior advisor in the Small Business Administration’s Access to Capital Office. “There is no doubt that small businesses have appreciated the RRF program.

So demanding that the legislation to be renewed the restaurant fund has attracted 15 Senate sponsors, including Robert Menendez of New Jersey, and 219 in the House, including the 12 members of the Garden State.

CORONAVIRUS RESOURCES: Live map tracker | Bulletin | Home page

For now, restaurants can take advantage of COVID-19 economic disaster loans. Applications are still accepted until December 31st.

The loans bear interest rates of 3.75% for small businesses and 2.75% for private non-profit organizations. They can be repaid over 30 years.

“You have small businesses that ask, ‘What’s left? Pugin said. That’s what’s left, she said.

There are also grant programs of up to $ 15,000 for small businesses in low-income communities that have suffered significant losses from the coronavirus.

These programs “have been lifesavers for thousands and thousands of businesses,” Pugin said.

As the delta variant forces governments to reinstate mask warrants and Americans again restrict activities indoors, more companies seek help under EIDL programs and the SBA has facilitated the application and accelerated the processing of applications, she said.

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Jonathan D. Salant can be reached at jsalant@njadvancemedia.com.

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Melissa and Joe Gorga list 3 houses, downgrade to NJ $ 900,000 pad https://sunnationalbankcenter.com/melissa-and-joe-gorga-list-3-houses-downgrade-to-nj-900000-pad/ https://sunnationalbankcenter.com/melissa-and-joe-gorga-list-3-houses-downgrade-to-nj-900000-pad/#respond Fri, 17 Sep 2021 22:53:00 +0000 https://sunnationalbankcenter.com/melissa-and-joe-gorga-list-3-houses-downgrade-to-nj-900000-pad/

It looks like Joe and Melissa Gorga are working to get their finances in order.

The “Real Housewives of New Jersey” stars are selling three New Jersey homes they own after being demoted to a $ 950,000 Franklin Lakes pad, The Post reports.

The concurrent listings come seven months after the official sale of their longtime family home for $ 2.5 million in February, according to property records.

Insiders say it’s all part of a larger life plan.

“Melissa and Joe have had a house on the ground since they got married and are ready to move,” a representative for the couple told The Post. “They are currently looking for property in the Hamptons and plan to spend their summer there in the future.”

Meanwhile, the listings come months after the duo were accused of owe thousands dollars to several employees who had worked for them, including their former real estate agent, Michelle Pais. But the Gorgas having denied this, calling it a case of miscommunication.

However, the first of two Toms Rivers waterfront properties they listed has spent years on and off the market.

Toms River First House

The first Toms River house that Melissa and Joe Gorga bought in 2005.
Google
The swimming pool.
The swimming pool.
Realtor.com
The living room.
The living room.
Realtor.com
The formal dining room.
The formal dining room.
Realtor.com
The kitchen.
The kitchen.
Realtor.com

The Gorgas first purchased this vacation home – consisting of three bedrooms and two bathrooms – in 2005 for $ 450,000. Although they have been trying to get rid of it for almost a decade, they have been unlucky.

In 2011, they attempted to sell the house for $ 520,000. But because they took out so many loans against the property, they still owed the bank about $ 1.5 million after interest during that time, according to the records.

A den.
A den.
Realtor.com
The master bedroom which leads to a terrace with a view of the waterfront.
The master bedroom which leads to a terrace with a view of the waterfront.
One of the three bedrooms.
One of the three bedrooms.
Realtor.com

The Gorgas have even attempted to rent the place a few times in the hope of having constant money.

Covering over 1,200 square feet, with 4,792 square feet of land, the home was last listed in May for $ 650,000. They gave the home a price drop last week for $ 540,000 after still being unable to attract buyers.

A separate source claimed the reason the house didn’t sell was because it was “deemed to be substantially damaged after Sandy.”

Toms River Second House

The second Toms River waterfront home that Melissa and Joe Gorga bought in 2019.
The second Toms River waterfront home that Melissa and Joe Gorga bought in 2019.
Realtor.com
The bar area.
The bar area.
Realtor.com
The swimming pool with a view of the water.
The swimming pool with a view of the water.
Realtor.com
The outer deck.
The outer deck.
Realtor.com

Their second vacation home in Toms Rivers was recently listed on Sept. 7 for $ 2.9 million – the same day they gave their other property a price cut.

This ad is a bit more interesting, as they bought the house just two years ago – in July 2019 – for $ 975,000.

The open floor plan has a dining area.
The open floor plan has a dining area.
Realtor.com
The living room.
The living room.
Realtor.com
One of the seven bedrooms.
One of the seven bedrooms.
Realtor.com
One of the five bathrooms.
One of the five bathrooms.
Realtor.com

Comprised of seven bedrooms and five bathrooms, the home spans over 3,500 square feet and has been remodeled with all modern finishes.

Outdoor amenities include a large inground pool on a double lot with 165 feet of water views on the Bayfront.

Investment property in Paterson

The lot they bought in 2018 in Paterson, NJ.

The lot they bought in 2018 in Paterson, NJ so they could build a townhouse. Swipe right to see a sketch of the townhouse.

A rendering of the townhouse.

A rendering of the townhouse under construction in Paterson, NJ.


Then there’s an investment property in Paterson that they bought in 2018 for $ 149,000. The Gorgas turned it over and the house was listed a month ago for $ 525,000. If they marked this sale, they would make a big profit.

While construction is still in progress, the house will consist of six bedrooms and three bathrooms.

New family home in Franklin Lakes

Melissa and Joe Gorga's new family home was purchased for $ 960,000 in June.
Melissa and Joe Gorga’s new family home was purchased for $ 950,000 in June.
Google maps

Meanwhile, the Gorgas bought a new family home in Franklin Lakes, which they closed on June 15 for $ 950,000, according to property records.

Although the original house consisted of five bedrooms and six bathrooms, Melissa revealed that they plan to deconstruct the property and design a new house on the land to their liking.

Additionally, real estate records show they took out another $ 500,000 loan to build the house, bringing the total costs to $ 1.44 million.

The property will be located on nearly 1.5 acres of land, located in the community of West Gate Urban Farms, The Post has learned.

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Last mile delivery site lands $ 381 million in Bronx https://sunnationalbankcenter.com/last-mile-delivery-site-lands-381-million-in-bronx/ https://sunnationalbankcenter.com/last-mile-delivery-site-lands-381-million-in-bronx/#respond Fri, 17 Sep 2021 12:00:00 +0000 https://sunnationalbankcenter.com/last-mile-delivery-site-lands-381-million-in-bronx/

Turnbridge Equities Founder Andrew Joblon, KKR Co-Founder Henry Kravis and Distribution Center (Getty, Turnbridge)

A huge last mile distribution center may have hit the last mile of its financial needs.

A joint venture controlled by Turnbridge Equities and Dune Real Estate Partners has secured $ 381 million in new funding from KKR, property records show.

Most of the funds will be used to build the distribution center in Hunts Point, Bronx. It will be approximately 1 million square feet.

The two-story facility is slated for nearly 630,000 square feet of land adjacent to the East River, below 149th Street East, near the Bruckner Freeway. The KKR loans provide $ 224.5 million for construction and $ 94.7 million in new senior debt, and will repay $ 61.8 million in outstanding principal issued by JPMorgan Chase.

Turnbridge, led by Andrew Joblon, has been busy reclaiming industrial properties, including a 129,000 square foot warehouse last year in Queens for $ 39.5 million and a 1 million square foot industrial site in the New Jersey for $ 61 million.

Turnbridge began assembling the Bronx site in 2018, spending a total of $ 174 million to purchase five plots, according to property records. In May, it filed an application to build a 986,000 square foot warehouse at 950 East 149th Street.

KKR and Turnbridge declined to comment on funding for the project, which was arranged by JLL Capital Markets. JLL’s team included Christopher Peck, Peter Rotchford and Madison Warwick. Andrew Scandalios and Tyler Peck arranged the capital partnership.

KKR, a publicly traded company, manages real assets as well as private equity investments. It devotes half of its loan portfolio to multi-family properties, 33% to offices and only 3% to industrial buildings, according to its website.

But the market for last mile delivery centers has been hot for several years and sizzling since the start of the pandemic. Consumer behavior has gradually shifted towards delivery and away from in-person shopping, a trend supercharged by Covid and a race for ever faster delivery.

The driving force behind that, of course, is Amazon, which is looking to open 100 manufacturing facilities in the United States this month and hire 125,000 warehouse workers before the holiday season.

One of the retail giant’s many recent projects is a 64,000-square-foot facility at 49 Wireless Avenue in Hauppauge’s Long Island Innovation Park, which could accommodate 186 delivery vans.

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Man, 18, charged with brutality against gay men in North Bergen, NJ Park https://sunnationalbankcenter.com/man-18-charged-with-brutality-against-gay-men-in-north-bergen-nj-park/ https://sunnationalbankcenter.com/man-18-charged-with-brutality-against-gay-men-in-north-bergen-nj-park/#respond Thu, 16 Sep 2021 21:04:41 +0000 https://sunnationalbankcenter.com/man-18-charged-with-brutality-against-gay-men-in-north-bergen-nj-park/

An 18-year-old man charged with a brutal gay-bias attack on a man, beating and suffocating him until he passed out in a North Bergen park in June, has been charged with attempted murder and other charges.

José Tobias Carranza Serrano, of Baltimore, Md., Also known as “Kevin Lopez”, faces first degree counts of attempted murder, biased intimidation and robbery, as well as assault. serious second degree.

After initially being arrested for trespassing, Carranza Serrano told Bayonne police he believed he murdered the man, according to a probable cause affidavit.

He also told police he lured the man, whose identity was not disclosed, to a dark, wooded area of ​​North Hudson Park on the night of June 21 with the intention of killing him .

Carranza Serrano punched and kicked the man in the face on several occasions, Acting Attorney General Andrew Bruck said.

The man suffered fractures and lost teeth, had his eyes gouged out and was briefly strangled before being left near a path where he was found early the next morning by a passer-by, Bruck said.

His injuries caused a life-threatening illness (rhabdomyolysis), which prompted staff at Hackensack Medical Center to intubate him, according to the affidavit.

Carranza Serrano also took the victim’s cell phone and eight dollars in cash before leaving it, prosecutors said.

“We will not tolerate violence targeting the LGBTQ + community,” Bruck said in a written statement.

“There is simply no excuse for this type of hatred, and we will ensure that those who engage in violence are held fully accountable for their actions.”

On Thursday, Carranza Serrano was being held in the Hudson County Jail, awaiting trial.

Words from NJ that should be added to the dictionary

13 words submitted by Steve Trevelise supporters for dictionary inclusion – because someone has to explain New Jersey to the rest of the country.

LOOK: What important laws were passed in the year you were born?

The data in this list was acquired from reliable online sources and media. Read on to find out which major law was passed in the year you were born, and learn its name, vote count (if any), impact, and meaning.

KEEP READING: Here Are 50 Of Your Favorite Chain Stores That No Longer Exist

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New Jersey has expunged a third of a million marijuana convictions since July https://sunnationalbankcenter.com/new-jersey-has-expunged-a-third-of-a-million-marijuana-convictions-since-july/ https://sunnationalbankcenter.com/new-jersey-has-expunged-a-third-of-a-million-marijuana-convictions-since-july/#respond Thu, 16 Sep 2021 17:54:40 +0000 https://sunnationalbankcenter.com/new-jersey-has-expunged-a-third-of-a-million-marijuana-convictions-since-july/

The New Jersey judiciary announced Thursday that the state had struck off more than 362,000 cases of marijuana since July 1, when a decriminalization law went into effect that made aid mandatory for people who have been taken in the enforcement of the ban. The courts have also said they will launch a public education campaign next week to help even more people understand the possibilities for redress under the law.

In the meantime, around 1,200 people have also been released from probation since their cannabis radiation was processed.

Courts have previously estimated that around 360,000 people were eligible for redress under the new law, so it appears that the review process did identify most of these cases.

These actions, first reported by NJ.com, after State Supreme Court Chief Justice Stuart Rabner released a order in July, it also causes some pending marijuana cases to be dismissed and no-appear warrants to be quashed.

“Cases of offenses eligible for expungement include certain charges of marijuana or hashish alone or in combination with the following: possession of drug accessories; use or be under the influence of a controlled dangerous substance; and failure to legally dispose of a controlled and dangerous substance ”, the judiciary noted in its Thursday update.

Those who are not automatically eligible for expungement can still file a petition for judicial review, he said. The administrative clerk of the courts also plans to launch on September 20 an “awareness campaign” to “inform the public of the Opportunities available through the Marijuana Decriminalization Act.

Gov. Phil Murphy (D) signed bills on the legalization and decriminalization of marijuana in February. The lawmaker had to pass the first measure after voters approved a referendum on reform in the November 2020 election.

“With our new cannabis laws, we are turning the page on the failure of the drug war and ensuring social justice here in New Jersey,” the governor said in a tweet about recent erasure measures records.

New Jersey officials have separately been proactive about implementing cannabis reform since the legalization bill was passed.

The day after Murphy’s signing of the legalization legislation, then Attorney General Gurbir Grewal (D) ordered prosecutors to drop cases for cannabis offenses and issued separate guidelines to the police intent on how to proceed under the updated laws.

The attorney general also urged prosecution discretion for marijuana cases in memos prior to the signing of the bill.

Grewal has also taken steps to ensure that people do not exploit the legalization law’s provisions before retail sales launch. In June, he sent warning letters to companies that were effectively circumventing state marijuana laws by “offering” cannabis in exchange for non-marijuana purchases, such as cookies, brownies and overpriced stickers.

Giveaways are legal between adults 21 and over under the New Jersey Adult Cannabis Act, but a number of companies have reportedly taken advantage of this policy by offering “free” cannabis products. to those who buy other items like snacks and baked goods.

No retail marijuana business has been licensed since the state passed recreational legalization earlier this year. But regulators approved the initial rules for the program last month that will set up the state’s retail market.

More than 70% of the state’s municipalities have chosen to ban cannabis companies from operating in their area, but voters have so far had no say in local decisions, local officials making their choice through the municipal councils.

That said, elected officials in several regions that support the commercialization of cannabis have chosen to enact a ban before the August 22 deadline simply to give themselves more time to develop individualized regulations before giving the green light to marijuana companies.

Missouri Spends Millions in Medical Marijuana Tax Revenue to Support Veterans Programs

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Does the SEC have a case against Coinbase? https://sunnationalbankcenter.com/does-the-sec-have-a-case-against-coinbase/ https://sunnationalbankcenter.com/does-the-sec-have-a-case-against-coinbase/#respond Wed, 15 Sep 2021 12:16:00 +0000 https://sunnationalbankcenter.com/does-the-sec-have-a-case-against-coinbase/

Coinbase (NASDAQ: COIN) has been planning to launch a loan product called Coinbase Lend for months. The company would take users’ cryptocurrency deposits and loan them to borrowers, securing their loans with other currencies such as Bitcoin. Depositors would earn interest on their holdings through the loans.

There is only a hiccup. Coinbase reported that the SEC had issued a Wells notice (an intention to sue) to the company regarding the Coinbase Lend program, alleging that the product constituted security and had to register as such.

Coinbase believes the SEC is far from the grassroots, and management has not been afraid to let the public know. Legal Director Paul Grewal released a blog post, and CEO Brian Armstrong let go Twitter.

The fight has big potential ramifications for Coinbase, as well as crypto investors in general.

Image source: Getty Images.

Is Coinbase Lend a security?

In Grewal’s blog post, he says the SEC uses case law from SEC c. Hto have to and Dreams vs. Ernst & Young, but the SEC refuses to provide details on their application. I’m not a lawyer, but let’s dive into the business.

In the Howey In this case, an investment contract is defined as “a contract, transaction or scheme by which a person invests his money in a joint venture and is made to expect profits only from the efforts of the promoter or a third party” .

From a layman’s perspective, Coinbase Lend certainly seems to fit the definition of an investment contract in the Howey Case. A person invests money in the Coinbase Lend program with the expectation of earning a return in the form of interest. The only way to earn that interest is for Coinbase to turn around and make money on that money by lending it to borrowers. These are solely the efforts of the promoter i.e. Coinbase.

The Dreams determined case that a ticket is a security based on four factors:

  1. The company sold the notes to raise capital and the buyers bought them for a profit in the form of interest.
  2. The tickets were offered and sold to a large segment of the public.
  3. The public reasonably perceived from the advertisements for the tickets that they were investments.
  4. There was no risk reduction factor that would make securities law enforcement unnecessary (like FDIC deposit insurance).

It can also be argued that it meets the definition of Dreams Case:

  1. Coinbase is raising capital to lend to others, and buyers expect to profit from the interest payments.
  2. Coinbase offers the product to everyone.
  3. It is seen as an investment.
  4. Check the Coinbase Lend disclosure: “Coinbase is not a bank. Your loaned crypto is not protected by FDIC or SIPC insurance.”

Again, I’m not a lawyer, but the SEC case looks pretty compelling.

The defense of Coinbase

Coinbase would like to point out that it is not the only player in town when it comes to crypto lending. “Other crypto companies have had lending products in the market for years, and new lending products continue to be launched as late as last month,” Grewal wrote in his blog post.

“If you don’t want this activity, just post your position, in writing, and apply it consistently across the industry,” Armstrong called the SEC on Twitter.

Although Armstrong argues that there are no official SEC guidelines, the defense is shaky at best. The idea that something shouldn’t be illegal just because other people have gotten away with it so far and there is no clear guideline is not a defense.

In addition, competing products have not been able to completely escape the law. BlockFi, for example, has been targeted by three states – New Jersey, Alabama and Texas – alleging that the crypto lending platform violates state securities laws.

What this means for investors

If Coinbase goes ahead with Lend and the SEC goes ahead with legal action, it could set a precedent that would prevent many other loan programs from working in the United States.

The reach of the SEC could even prevent decentralized finance (DeFi) protocols like Aave (CRYPTO: AAVE) and Compound (CRYPTO: COMP) to work. These companies’ tokens responded in kind after Coinbase announced the SEC’s Wells notice – the price of each fell sharply. However, DeFi protocols can be exempt from SEC oversight if they are decentralized enough, leading to another line of legal defense for Aave, Compound, and others.

The ability to take out secured loans is an essential part of DeFi and cryptocurrency investing. Crypto investors should pay close attention to the dispute as the ramifications could go far beyond Coinbase’s lending product.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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Lakeland (LBAI) drops 1.07% to close at $ 16.61 on September 10 https://sunnationalbankcenter.com/lakeland-lbai-drops-1-07-to-close-at-16-61-on-september-10/ https://sunnationalbankcenter.com/lakeland-lbai-drops-1-07-to-close-at-16-61-on-september-10/#respond Sat, 11 Sep 2021 01:39:00 +0000 https://sunnationalbankcenter.com/lakeland-lbai-drops-1-07-to-close-at-16-61-on-september-10/

Lakeland Bancorp, Inc. (NASDAQ: LBAI), a company in Oak Ridge, New Jersey, closed at $ 16.61 on Friday after losing $ 0.18 (1.07%) on 174,886 stock volume. The stock ranged from a high of $ 16.85 to a low of $ 16.52, while Lakeland’s market cap now stands at $ 840,488,407.

About Lakeland Bancorp, Inc.

Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc., with total assets of $ 7.66 billion as at December 31, 2020. With an extensive branch network and commercial lending centers in the New Jersey and Highland Mills, NY, the bank provides business services. and retail banking products and services. Business services include commercial loans and lines of credit, commercial real estate loans, health services loans, asset loans, equipment financing, small business loans and lines, and management services cash. Consumer services include online and mobile banking, home equity loans and lines, mortgage options and wealth management solutions. Lakeland is proud to be recognized as one of New Jersey’s Top State Banks by Forbes and Statista, rated 5 stars by Bauer Financial, and named one of New Jersey’s 50 Fastest Growing Companies by NJBIZ .

Visit the Lakeland Bancorp, Inc. profile for more information.

About the Nasdaq Stock Market

The Nasdaq Stock Market is a global leader in trading data and services, as well as the listing of stocks and options. The Nasdaq is the world’s largest stock exchange for options volume and is home to the five largest US companies – Apple, Microsoft, Amazon, Alphabet and Facebook.

For more information about Lakeland Bancorp, Inc. and to keep up with the latest company updates, you can visit the company profile page here: Lakeland Bancorp, Inc.’s Profile. For more information on the financial markets, be sure to visit Equities News. Also, don’t forget to sign up for the Daily Fix to get the best stories delivered to your inbox 5 days a week.

Sources: The chart is provided by TradingView on the basis of prices delayed by 15 minutes. All other data is provided by IEX Cloud as of 8:05 p.m. ET on the day of publication.

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Loan Management Software Market Size, Trends and Key Players – Fiserv Inc., Mortgage Designer, Altisource Portfolio Solutions, Nortridge Software, Applied Business Software, Cassiopae, AutoPal Software, C-Loans, Inc. https://sunnationalbankcenter.com/loan-management-software-market-size-trends-and-key-players-fiserv-inc-mortgage-designer-altisource-portfolio-solutions-nortridge-software-applied-business-software-cassiopae-autopal-softwar/ https://sunnationalbankcenter.com/loan-management-software-market-size-trends-and-key-players-fiserv-inc-mortgage-designer-altisource-portfolio-solutions-nortridge-software-applied-business-software-cassiopae-autopal-softwar/#respond Sat, 04 Sep 2021 04:07:02 +0000 https://sunnationalbankcenter.com/loan-management-software-market-size-trends-and-key-players-fiserv-inc-mortgage-designer-altisource-portfolio-solutions-nortridge-software-applied-business-software-cassiopae-autopal-softwar/

New Jersey, United States, – The Loan Management Software Market The research report is a detailed study of the Loan Management Software industry that specializes in identifying the growth potential of the Loan Management Software Market and potential opportunities in the market. Secondary research data comes from government publications, interviews with experts, journals, surveys and trusted journals. The recorded data spans a decade followed by systematic review to conduct an in-depth study of influencers in the Loan Management Software market.

The loan management software market was valued at USD 2,151.08 million in 2020 and is expected to reach USD 4,812.08 million by 2028, with a CAGR of 12.19% from 2021 to 2028.

Loan services refer to the administrative characteristics of a loan, from the time the assets are distributed until the loan is repaid. It is one way for a finance company or lender to manage a process of collecting principal, interest, and escrow payments. In addition, this includes sending monthly payment statements, collecting monthly payments, keeping records of payments and balances, collecting and paying taxes and insurance, remitting funds to the note holder. and the follow-up of any payment default. Loan management software automates the above process from origination, credit decisions, payments and collections to accounting and reporting. The loan management software supports mortgage, home equity, consumer and business loans. It helps mortgage lenders, banks and credit unions provide accurate, real-time data analytics related to pricing and reviewing the credit profiles of potential customers. Loan management software is designed to help lenders increase income, simplify portfolio management, improve client satisfaction, and reduce operating expenses. Loan management software improves workflow efficiency and can be integrated with existing CRM tools

Get | Download a sample copy with table of contents, graphics and list of figures @ https://www.verifiedmarketresearch.com/download-sample/?rid=65535

The report covers an in-depth analysis of the major market players in the market, along with their business overview, expansion plans, and strategies. The major players studied in the report include:

Fiserv Inc., Mortgage Designer, Altisource Portfolio Solutions, Nortridge Software, Applied Business Software, Cassiopae, AutoPal Software, C-Loans, Inc.

Loan Management Software Market Segmentation

Loan Management Software Market by Type

• Cloud-based
• On the spot

Loan Management Software Market By Application

• Big business
• Small and medium-sized enterprise

The Loan Management Software market report has been segmented on the basis of various categories such as product type, application, end user, and region. Each segment is evaluated based on CAGR, share and growth potential. In the regional analysis, the report highlights the potential region which is expected to create opportunities in the Loan Management Software Market in the coming years.

Get a discount on purchasing this report @ https://www.verifiedmarketresearch.com/ask-for-discount/?rid=65535

Scope of Loan Management Software Market Report

Report attribute Details
Market size available for years 2021 – 2028
Reference year considered 2021
Historical data 2015 – 2020
Forecast period 2021 – 2028
Quantitative units Revenue in millions of USD and CAGR from 2021 to 2028
Covered segments Types, applications, end users, etc.
Cover of the report Revenue forecast, company ranking, competitive landscape, growth factors and trends
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Scope of customization Free customization of the report (equivalent to 8 working days for analysts) with purchase. Add or change the scope of country, region and segment.
Price and purchase options Take advantage of personalized shopping options to meet your exact research needs. Explore purchasing options

Geographic segment covered in the report:

• North America (United States and Canada)
• Europe (UK, Germany, France and rest of Europe)
• Asia-Pacific (China, Japan, India and the rest of the Asia-Pacific region)
• Latin America (Brazil, Mexico and the rest of Latin America)
• Middle East and Africa (GCC and rest of Middle East and Africa)

Key questions answered in the report:

  • What is the growth potential of the loan management software market?
  • Which product segment will take the lion’s share?
  • Which regional market will emerge as a pioneer in the years to come?
  • Which application segment will experience strong growth?
  • What growth opportunities might arise in the loan management software industry in the years to come?
  • What are the most significant challenges facing the loan management software market in the future?
  • Who are the leading companies in the Loan Management Software market?
  • What are the main trends that are positively impacting the growth of the market?
  • What growth strategies are players considering to stay in the Loan Management Software market?

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Reverse Mortgage Financing Lowers Age Requirements to 55+ for Its Proprietary Reverse Mortgage Product, Equity Elite (R) https://sunnationalbankcenter.com/reverse-mortgage-financing-lowers-age-requirements-to-55-for-its-proprietary-reverse-mortgage-product-equity-elite-r/ https://sunnationalbankcenter.com/reverse-mortgage-financing-lowers-age-requirements-to-55-for-its-proprietary-reverse-mortgage-product-equity-elite-r/#respond Wed, 01 Sep 2021 11:13:00 +0000 https://sunnationalbankcenter.com/reverse-mortgage-financing-lowers-age-requirements-to-55-for-its-proprietary-reverse-mortgage-product-equity-elite-r/

Gen Xers can now qualify for reverse mortgages with this lower minimum age requirement

BLOOMFIELD, NJ / ACCESSWIRE / September 1, 2021 / Reverse mortgage financing, LLC (RMF), one of the nation’s leading reverse mortgage lenders, today announced a significant enhancement to its proprietary reverse mortgage product, Equity Elite®. The improvement lowers the minimum age of eligibility for homeowners applying for this reverse mortgage product from age 60 to age 55 in some states.

Members of Generation X, born between 1965 and 1980, will be between 41 and 56 years old this year. Gen Xers are preparing for retirement with record amounts of home equity, taking on the responsibility of caring for older children and aging parents, and often carrying the burden of costly debt. Meanwhile, Gen Xers are well positioned to take advantage of home equity conversion loans, as their generation’s net worth has rebounded more than any other generation since the Great Recession. Older people of this generation, aged 55 and over, can now qualify for reverse mortgages with Equity Elite® from RMF.

“Equity Elite’s lowered age requirement means that approximately 2.7 million homeowners could now qualify for a reverse mortgage, according to market statistics,” said John K. Lunde, Founder and President of Reverse Market Insight. “We expect Gen X to increase the number of active reverse mortgage borrowers as they plan for retirement and are on track to owning more home equity than previous generations.”

RMF was one of the first reverse mortgage lenders to lower the minimum age requirement to 62 when it changed the requirement to 60 for its Equity Elite® product. Specifically designed for those 60 and over, this lower cost reverse mortgage option allows borrowers to potentially leverage more funds than they could with a home equity conversion mortgage. In addition to lowering the minimum age requirement to 55 in 20 states, RMF plans to launch Equity Elite® in even more states in the coming months. This market expansion allows RMF to offer financial planning options to Gen Xers approaching retirement.

“Market research tells us that Gen Xers are experiencing a dramatic retirement savings shortfall, not to mention a decline in retirement plans. For many of these people, tapping into their home equity will be essential to supplementing their minimum retirement savings, ”said Joe DeMarkey, head of strategic business development at RMF. “This expansion presents a huge opportunity to educate early retirees about financing tools other than term loans. Our goal is to provide this population with options so that they can plan for a more financially secure retirement. ‘

Lowering the minimum qualifying age to 55 for reverse mortgages also benefits most, if not all, homeowners 55 and over in age-restricted communities. Newly qualified homeowners who meet the lowered age requirement now have the option of purchasing a new home in these exclusive retirement communities with an Equity Elite loan.

“Residents of age-restricted communities now have more financial flexibility to plan for retirement, from using a reverse mortgage to purchase a new home, to paying down debt. costly pre-existing or to cover health care bills and additional expenses, ”says David Peskin, President of RMF. “The nation’s largest home builders can now offer more financial products, like RMF’s Equity Elite, to help residents buy their new homes – a significant achievement for the industry.”

Exclusive product lowers the age requirement for Equity Elite® Reverse Mortgages from 60 to 55 in the following states: Arizona, California, Colorado, Connecticut, Washington, DC, Florida, Georgia, Hawaii, Illinois, Michigan, Montana, New Jersey (lump sum and line of credit only), New Mexico, Nevada, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina and Virginia, and more states will be announced in the near future.

To learn more about reverse mortgage financing, please visit ReverseFunding.com.

About Reverse Mortgage Funding LLC

Founded in 2012, Reverse Mortgage Funding LLC (NMLS ID # 1019941) is one of the largest national issuers of GNMA reverse mortgages and a recognized industry thought leader. RMF focuses on the creation, acquisition, investment and management of Reverse Mortgages and Reverse Mortgage Backed Securities. The company is headquartered in New Jersey, offices in New York and California, and field offices in the United States. RMF is a wholly owned subsidiary of Reverse Mortgage Investment Trust Inc. (RMIT), a finance company specializing in the reverse mortgage industry. In 2020, RMIT became a member of Starwood Capital Group, a global private investment firm and agencyless mortgage innovator, helping to make the industry the success it is today. This relationship will provide RMF with the unique ability to develop new product lines and create strategic partnerships within the Starwood family of companies.

Not for consumer use. This material has not been reviewed, approved or published by HUD, FHA, or any government agency. The company is not affiliated with or acting on behalf of or under the direction of HUD / FHA or any other government agency.

© 2021 Reverse Mortgage Funding LLC, 1455 Broad Street, 2nd Floor, Bloomfield, NJ 07003, 1-888-494-0882. Company NMLS ID: # 1019941. For licensing information, visit: www.nmlsconsumeraccess.org. Arizona Mortgage Banker’s License # 0927682; Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; Loans made or arranged under license under California Financing Act; Georgia Mortgage Lender License Holder # 36793; Massachusetts Mortgage Lender License # ML1019941; Licensed by the New Jersey Department of Banking & Insurance; Chartered Mortgage Banker – NYS Department of Financial Services – State branch address 700 Corporate Blvd, Newburgh, NY 12550; Rhode Island Approved Lender. For California Consumers: For more information on our privacy practices, please visit https://www.reversefunding.com/privacy. Not all products and options are available in all states. Conditions subject to change without notice. Certain conditions and fees apply. This is not a loan commitment. All loans are subject to approval. L3968-Exp092022

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Media contact:
Tyler bryant
Tbryant@interdepence.com
(813) 951-4169

THE SOURCE: Reverse Mortgage Funding LLC

See the source version on accesswire.com:
https://www.accesswire.com/662017/Reverse-Mortgage-Funding-Lowers-Age-Requirement-to-55-for-Its-Proprietary-Reverse-Mortgage-Product-Equity-EliteR

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Rural America secures record investment for fiscal 2021 https://sunnationalbankcenter.com/rural-america-secures-record-investment-for-fiscal-2021/ https://sunnationalbankcenter.com/rural-america-secures-record-investment-for-fiscal-2021/#respond Sat, 28 Aug 2021 07:04:26 +0000 https://sunnationalbankcenter.com/rural-america-secures-record-investment-for-fiscal-2021/

USDA is on track to provide a record level of support for rural working capital and other business capital needs in fiscal 2021.

The Department has invested $ 1.2 billion in loan guarantees to help rural businesses in 41 states, Guam and the Virgin Islands. These investments – made through the Business and Industry Loan Guarantee Program and the CARES Program for Business and Industry – should create or safeguard more than 12,000 jobs for people in rural areas.

“Under the leadership of President Biden, Vice President Harris and Secretary of Agriculture Vilsack, USDA is expanding access to capital to prioritize rural economic development,” said Maxson. “As we continue to respond to the COVID-19 pandemic and restore the economy, the USDA remains committed to helping rural businesses create employment opportunities so that rural Americans can build back better and stronger than never.”

USDA has invested $ 811 million in the Business and Industry Loan Guarantee Program (B&I) since the start of the current fiscal year. This aid has enabled businesses to create or save more than 6,000 jobs in rural areas.

Investments in the B&I program are 36% higher than they were at the same time last year. Requests increased by 44%. These increases are due in part to a series of program enhancements adopted by the USDA as part of the new OneRD Guarantee Loan initiative.

This initiative increased the USDA loan guarantee to 80% for investments over $ 5 million. The previous guarantee percentages were 70% for loans under $ 10 million and 60% for loans over $ 10 million. This improvement made the program more attractive to capital intensive businesses such as manufacturing companies.

USDA has also invested $ 380 million in rural businesses through the CARES Program for Business and Industry, which was created under the CARES Act (Coronavirus Aid, Relief, and Economic Security). This aid has helped rural businesses create or save more than 6,000 jobs in rural areas.

These investments USDA announces today are helping rural businesses and workers in Alaska, Alabama, Arkansas, Arizona, California, Colorado, Delaware, Florida, Hawaii, Georgia, Iowa, Idaho, Illinois, Indiana, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Missouri, Mississippi, North Carolina, North Dakota, Nebraska, New Jersey, New York, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington, Wisconsin, West Virginia, Wyoming, Guam and the Virgin Islands.

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