The sourcing system provider said the forecast was based on three trends; historically high growth since 2011, improved awareness of the consumer credit industry following the shift to the FCAs supervison and the upcoming European Mortgage Credit Directive.
It pointed to historic data on the sector which showed the secured loans industry averaged 130% growth over the past three years, which took place without any of the regulatory changes now influencing business levels.
Gareth Broome, senior business development manager at The Lending Wizard, said: In the past secured loans were often seen as a fall-back product, and something outside the comfort zone of many brokers.
On Sept. 9, I published a news articleabout Bridgeport Biodiesel preparing to expand operations after Tri-State Biodiesel and its parent company, The Sustainable Biodiesel Company, partnered with New Jersey-based Lard-NABF LLC to purchase and upgrade the Connecticut-based facility. The purchase agreement was announced last November.
We have the plant running at 2 MMgy now, Baker toldBiodiesel Magazine in September, and we have just received our building permits to add a tank farm and another large process line that will take the total capacity to 10 MMgy at the site.
Last week, on Oct. 24, a groundbreaking ceremony hosted by Bridgeport Mayor Bill Finch was held initiating the expansion.
Once upon a time, credit cards were regulated by the Federal Trade Commission, a body that IndexCreditCards.com would from time to time accuse of never knowingly being on the side of a consumer. But in July 2011 many of its responsibilities passed to the new Consumer Financial Protection Bureau (CFPB). And the bureau has certainly been more active than its predecessor in introducing
transparency and fairness into the card market.
However, even it doesnt have an unblemished record. The Credit CARD Act of 2009 prohibited card issuers from charging in total fees during the first year an account was opened more than 25 percent of the credit line provided.
First Premier of South...
Secured loans specialist The Loans Engine has welcomed Affirmative Finance to its panel of niche lenders.
Rising property prices, stricter mortgage criteria and growth in areas such as self builds has seen growing demand for more flexible financial products, which The Loans Engine will now be able to offer through its latest collaboration.
Loans ranging from pound;10,000 to pound;5million, a 75% loan-to-value ratio and flexible rates from 1% per month are just some of the extras in the enhanced product range being offered by Affirmative Finance. The company specialise in lending to aspiring homeowners who may have little experience in the mortgage market and are therefore unlikely...
Miami, FL (PRWEB) October 02, 2014
Skypatrol, a global leader in GPS integrated tracking solutions, announces the introduction of their game-changing DVT (Data Verification Tool) for its Defender 2.0 users. DVT utilizes the latest technology in advanced data base lookup techniques to quickly gather and sort critical information about a prospective borrower or an existing customer.
DVT reports, designed to help Defender 2.0 users improve their lending decisions, can be used in conjunction with credit reports. In fact these DVT reports provide enough valuable data to stand on their own. This powerful tool is integrated into Skypatrol’s award winning GPS vehicle finance...
Lending officers are reporting that area residents are taking advantage of historic low interest rates with home equity loans during the closing months of 2014.
David Brescoach, lending manager at Frick Tri-County Federal Credit Union in Uniontown, said a lot of customers are inquiring about the home equity loans, which have similar terms to mortgages.
“We’re very busy,” said Brescoach.
Trisha Hottle, consumer loan officer at Somerset Trust’s main office in Somerset, also reported an influx of customers applying for home equity loans in November and December.
Home equity loans come in the forms of a revolving line of credit that lets you withdraw...
A courtroom showdown over the fate of Trump Entertainment Resorts Inc. is scheduled for Thursdaythe day before the deadline originally set for the closure of the companys Trump Taj Mahal casino on the Atlantic City, NJ, boardwalk.
A Wilmington, Del., bankruptcy judge has ordered Trump Entertainment lawyers to prove that they have a realistic game plan to keep the Taj Mahal from closing. Without one, the companys case could be pushed into a Chapter 7 liquidation.
The company has pushed back the target closing date to Dec. 20 from Dec. 12, citing talks that could save the casino and hotel.
To keep the casino open, officials have been negotiating cost-cutting moves with a union...
PHOENIX – (Nov. 18, 2014) – Bankruptcy may seem like the perfect cure-all for consumers buckling under heavy debt, but many people dont really understand the process or the repercussions. With so many myths surrounding bankruptcy, its hard to know when its an appropriate course of action and when its not.
The economy is improving, but many people are continuing to suffer the ripple effects of a terrible recession, said Mike Sullivan, director of education for Take Charge America, a national nonprofit credit counseling and debt management agency. For some, bankruptcy is the best option, but few people truly understand the ins and outs of filing.
To help consumers better...
October smashes post credit crunch record for secured loans
Secured lending in October reached £65.5 million, the highest single-month figure since October 2008, according to the Secured Loan Index, compiled by Loans Warehouse.
This represents a 30 per cent increase on October last year and is 12 per cent higher than September.
The index shows that lending in the first 10 months of the year stood at £553 million, surpassing the total amount lent in 2013.
Sam Busfield, co-founder amp; director of Loans Warehouse, commented: “There is no doubt that the industry has continued moving in the right direction. The ceaseless increased competition between...
Alderley Edge, Manchester (PRWEB UK) 28 November 2014
Since launching the first ever Peer to Peer consumer secured loans, there has been press and in-depth regulatory dialogue, leading to re-confirmation, to all borrowers and lenders that eMoneyUnion do not carry out FCA regulated mortgage activities.
The loans originated and transacted on the platform are done so under the Financial Services and Markets Act Amendment No.2 Order 2013 36H Legislation, a new law created specifically to capture Peer to Peer lending agreements for the new FCA regulation of Peer to Peer platforms.
eMoneyUnion explanation for secured loans transacted on the platform are;
Peer to Peer...