lending Archives -
Changes in the mortgage industry are afoot, with the goal of loosening some of the strict standards established after the subprime crisis – rules some blame for impeding sales.
L.A. Times – Business
The Chinese government is putting the brakes on Dalian Wanda’s overseas acquisitions, clouding the company’s ambitions to become a global entertainment powerhouse.
WSJ.com: US Business
More than a dozen advocacy groups are trying to block the merger of two L.A.-area banks, saying the deal would not benefit low-income and minority communities and that one of the banks does a poor job of lending in some rural California counties.
The California Reinvestment Coalition and other…
Heather Milne Barger and her husband knew it was about time to replace their 12-year-old Honda Civic hybrid this year — not only because it was showing its age, but because they knew there were bargains to be had.
“There were a lot of deals that dealerships were having, and cheap financing,” said…
Viewed optimistically, it looks like Kyle Kazan’s investment fund got an unbelievable deal when it loaned $ 2 million to Bud and Bloom.
Terms call for the recently opened Santa Ana marijuana dispensary to pay a hefty 10% annual interest rate and, once Kazan and his investors feel more comfortable,…
It is appearing more imminent that the Federal Reserve will institute an interest rate hike at its mid-December 2016 meeting, exactly one year after it implemented its first interest rate increase in nearly a decade. The relatively weak economic recovery from The Great Recession (2007-09) was one of the primary […]
Forbes Real Time
Lending Club plans to lay off 179 workers, or about 12% of its workforce, its latest response to a still-unfolding crisis that has cooled investors’ interest in the firm’s loans and pushed the company to dismiss its founding chief executive.
The San Francisco online lender reported the layoffs…
Less than a month after its founder and chief executive was forced to resign, Lending Club on Tuesday announced a significant tightening of its lending standards and took the rare step of postponing its annual shareholder meeting.
The troubled San Francisco online lender also disclosed that a Scottish…
A friend who recently started his own business couldn’t obtain a mortgage from three banks. I suggested he try marketplace lending platforms like SoFi to take advantage of the ongoing innovation in fintech. However, SoFi turned him down, as well, because it abides by the same underwriting rules as traditional banks. Like the banks, SoFi sells their mortgage loans to Fannie Mae. Read More
SHANGHAI, May 14 (Reuters) – – China's banking regulator has sent an urgent notice to banks telling them to clear bottlenecks slowing lending to private firms, sources with direct knowledge told Reuters, highlighting rising concern in Beijing about torpid private investment. Chinese banks sharply cut new lending in April after a record first-quarter credit spree, much of which appeared to go to the state sector and may have helped inflate asset bubbles in real estate and commodities. According to the document seen by Reuters, the China Banking Regulatory Commission (CBRC) is requiring financial institutions to conduct checks on their implementation of central government directives intended to make it easier for private firms to access bank credit.