The current high-interest-rate environment has been tough on borrowers, who are facing higher rates on just about every type of credit product. While the rates on home equity loans and home equity lines of credit (HELOCs) have been lower than many other options, they’re still relatively high compared to the last 15 or so years. … Read more
Jack Poulsen, the former president of the failed Ericson State Bank in Nebraska was sentenced to 18 months in prison for bank fraud involving loans to a relative that led to the rural bank’s collapse, according to the U.S. Attorney’s Office for the district of Nebraska. Poulsen, 71 , was sentenced to bank fraud last … Read more
(Bloomberg) — SK Hynix Inc. is set to receive an initial $450 million in US grants and $500 million in loans to build an advanced chip packaging and research facility in Indiana, a project that will bolster US capacity for a critical part of the artificial intelligence supply chain. The $3.87 billion site will package … Read more
Akuvo and Alacriti teamed up to offer financial institutions a loan payment processing solution that integrates directly into the collections process. Alacriti’s Orbipay EBPP loan payment solution will be integrated into Akuvo’s collections platform, enabling seamless, in-platform loan payment processing, the companies said in a Tuesday (Aug. 6) press release. “Our customers will now benefit … Read more
With backing from biotechnology entrepreneur Arie Belldegrun, Symbiotic Capital launched on Tuesday with more than $600 million to provide loans to biotechs and other life sciences businesses, the company announced. Los Angeles-based Symbiotic describes itself as a “first-of-its-kind life science credit firm.” Life science startups typically rely on venture capital funding. Startups may be years … Read more
The Education Department is moving forward with its broader student-loan forgiveness plan. It released new details on qualifying for the relief, set to be implemented this fall. The Education Department is getting closer to delivering student-loan forgiveness to millions of borrowers. Last week, the department announced it would be sending emails to all student-loan borrowers … Read more
Increased bank regulation, public market dislocation and investors’ search for yield have propelled private credit funds to grow beyond their middle market roots. Private credit, private debt and direct lending are used interchangeably but all refer to loans extended by an asset manager rather than a traditional bank, to corporate borrowers or financial sponsor-backed companies. … Read more
ST. LOUIS, MO / ACCESSWIRE / August 6, 2024 / CMG Home Loans, the retail division of well-capitalized privately held mortgage banking firm, CMG Financial, announced today the hire of Area Sales Manager, Laurenn’ Allee (NMLS #260541). Allee, a skilled mortgage expert with over 17 years of industry experience in Missouri, will be driving the … Read more
Salt Lake City, Utah-based WebBank is teaming up with BMG Money to expand access to lower-cost loans. The partnership aims to broaden financial inclusion for employees and retirees with limited access to socially responsible loan programs, the companies said in a Tuesday (Aug. 6) news release. WebBank and BMG Money are launching LoansAtWork, which is … Read more
CMG Home Loans, the retail division of well-capitalized privately held mortgage banking firm, CMG Financial, announced today the hire of Area Sales Manager, Laurenn’ Allee (NMLS #260541). Allee, a skilled mortgage expert with over 17 years of industry experience in Missouri, will be driving the CMG market in that area. Her ability to strategically strengthen … Read more