Onehunga’s Beachcroft Residences owes lenders $71.7m, receivers say
CMT is the general partner of Beachcroft Apartments LP, which was also put into receivership due to its…
#NewsBeep #News #Headlines #717 #717m #according #almostfinished #beachcroft #disastrous #first #funded #just #lenders #million #NewZealand #NZ #onehungas #out #owed #owes #receivers #Report #residences #say #which
https://www.newsbeep.com/300343/
…Because exams are confidential, they can identify — &, ideally, stop — small issues that could otherwise mushroom. The #CFPB’s examiners have forced #banks & other #lenders to return hundreds of millions of dollars to #consumers for improper fees & worthless services, & helped uncover high-profile issues like #WellsFargo’s sham accounts scandal.
#law #corruption #government #oversight #Project2025 #RussVought #Trump
Mortgage Rates Slightly Increase Amid Lender Caution Ahead of Winter
Mortgage interest rates in the UK have increased slightly for the first time since February, with the average rates for two- and five-year fixed deals now around 5%. This follows a period of declines but reflects cautious lending as the winter approaches. Analysts note that further Bank of England b... [More info]
#AI is huge. But so is the mania of #hype
"private credit has jumped into te mania to provide further #leverage, lending large amots to #datacenter #startup cos tt plan to build data centers & rent out te computing power; those #loans are backed with #collateral, namely the AI GPUs. No one knows what a three-year-old used #GPU, superseded by new GPUs, will be worth 3 years fr now, when te #lenders might want to collect on their defaulted loan but tt’s te collateral"🤦♂️ #WTF
https://wolfstreet.com/2025/10/10/is-it-really-different-this-time/
…#Trump has himself been found actually #liable of #fraud for #lying to #lenders to secure more favorable interest rates on #loans. Judge #Engoron in #NewYork last year found that Trump had inflated his #NetWorth on loan applications, & imposed a fine of about $450 million, including interest now totaling upwards of one billion dollars. Trump has appealed the ruling.
#economy #FederalReserve #law #tariffs #trade #immigration #labor #inflation #recession
The increased consumer costs from the CFPB's rollback of #regulations on #BankFees, wholesale dismissal of cases against #banks & other #lenders & the failure to disburse funds for harmed #borrowers run counter to Trump's pledges to ease the cost of living, acc/to #Student Borrower Protection Center & #Consumer Federation of America.
Since #Trump took control of the #CFPB in Feb, calling for its elimination, admin ofcls have sought to reduce the workforce by about 90% & curtail its oversight.
Solutions like #QualtechEdge stand out by delivering all of the above—plus customizable modules, cloud deployment, and AI-driven analytics—making it a future-ready LMS platform for forward-thinking #lenders https://www.qualtechedge.com/
https://newrepublic.com/post/196983/federal-reserve-warning-trump-economy-tariffs
Federal Reserve Warns Trump’s Economy Is About to Get Whole Lot Worse
#Powell #FederalReserve #Fed #us #economy #trump #tariffs #inflation #usa #consumer #retail #tax #spending #business #taxes #banking #lending #lenders #mortgage #rates #bank #creditunion #housing #home #american #families #trumpflation #trumpnomics
Mortgage rates jump above 7% after Moody’s downgrade of U.S. credit
#us #homebuyer #mortgage #economic #uncertainty #labor #market #refinance #applications #borrowers #rates #usa #mortgage #lending #banking #bankers #lenders #residential #construction #builders #jobs #fanniemae #fannie #freddie #mortgages #families #economy #recession #moodys #credit #rating
Homebuyer mortgage demand drops further, as economic uncertainty roils the housing market
#us #homebuyer #mortgage #economic #uncertainty #labor #market #refinance #applications #borrowers #rates #usa #mortgage #lending #banking #bankers #lenders #buyers #homes #house #residential #construction #builders #jobs #unemployment #employment
#fanniemae #fannie #freddie #underwriting #mortgages #homeownership #families #economy #recession #stagflation #trumpflation #americans
Mortgage applications dropped last week as rates shot up
Tariff turbulence is beginning to show up in housing data.
#us #homebuyers #usa #mortgage #rates #mortgages #housing #homes #trump #tariffs #american #family #tax #spending #business #taxes #tariff #trade #mba #bankers #loans #lenders #originators #fha #heloc #families #shelter #americandream #refinancing #refinance #GSEs #treasury #yields #bonds #treasurybonds #interest #finance #financing #economy #economics #uspol #politics #usgov #gov #government
I thought they were trying to save money 🤔
Under #Trump, the #Consumer #FinancialProtection Bureau #CFPB has dropped nearly a dozen enforcement cases brought during the #Biden admin, ending lawsuits against #banks & #lenders for a variety of financial practices that the #watchdog agency no longer considers #illegal.
But on Wed, the bureau went a step further: It is seeking to GIVE BACK $105k that a #mortgage lender paid to settle #racial #discrimination claims….
#law
https://www.nytimes.com/2025/03/26/business/cfpb-repay-mortgage-lawsuit.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=6A5655B4-A7D4-4098-AED1-2847DA87EEB0
In the 14 yrs the #CFPB has existed, it has challenged #banks on outrageous overdraft fees, taken on payday #lenders, & issued rules to rein in rogue #debt collectors. It created a complaint database to help #consumers seeking to resolve disputes with their #creditors & pursued companies & industries w/ #deceptive marketing & billing practices.
The agency was also laser-focused on making companies communicate w/consumers in plain language.
#Trump #Musk #DOGE #law #regulation #USpol
CFPB's Closure Not 'A Free Pass' For Financial #Compliance
#Banks and other consumer #lenders shouldn't let their compliance efforts around #Consumer #Financial #Protection Bureau #regulations go idle despite the uncertainty caused by the Trump administration's closure of the agency, experts say, as its #rules are still on the books and other regulators may pick up the slack. [via email from Law360]
#US
Thai authorities revoke visas of #illegal #online #lenders
"Immigration police hv revoked the visas of 12 #Chinese nationals & permanently #blacklisted them follow'g a raid on luxury pool villa tt they say was a base for an illegal online #moneylending business.. e suspects had been based in #Dubai before moving to #Thailand.. The measures r in line w the #government’s #policy to #crackdown on #PRC nationals involved in shady businesses both in 🇹🇭 & neighbouring countries"
https://www.bangkokpost.com/thailand/general/2956776/thai-authorities-revoke-visas-of-illegal-online-lenders
The loans will come at below-market interest rates, a crucial stipulation as #global #lenders usually charge much higher rates in #Africa, citing higher risks.
In an interview, Ajay Banga, the president of the #WorldBank, cast the initiative in sweeping terms where #economic #development met societal #stability & basic #HumanRights. “Without #electricity, we can’t get #jobs, #health care, skills,” he said. The success of electrification, he said, is “foundational to everything.”
Eine gute Aussage von Jürgen #Lenders von der #FDP zur Legalisierung von #Cannabis, aber bezogen auf alle Drogen konsumierenden.
„Drogen konsumierende sind keine Kriminellen. Sie brauchen ggf. Hilfe, wenn sie von Drogen weg wollen, aber Kriminelle sind sie nicht“
Aber das einzige Ziel, das die #CDU verfolgt ist das Kriminalisieren von Konsumenten. Reiner Populismus, nix weiter.
China's central bank reduces required reserves for lenders, part of a slew of moves to support the slowing economy
China's central bank reduces required reserves for lenders, part of a slew of moves to support the slowing economy #China039s #central #bank #reduces #required #reserves #lenders #part #slew #moves #support #slowing #economy
#Fed ’s high-rates era handed $1trn #windfall to US #banks -- #lenders charged more for loans but kept interest payments to savers down, #FT analysis finds, chart @FT https://www.ft.com/content/4c013d3b-796b-47a3-a964-02f753d39846?desktop=true&segmentId=7c8f09b9-9b61-4fbb-9430-9208a9e233c8#myft:notification:daily-email:content
The rules set to be announced Tues would ban #credit reporting agencies from incorporating #medical #debt when calculating #CreditScores…. The rules would also bar #lenders from using #MedicalDebt to determine #LoanEligibility, they said.
…~15M Americans have medical #bills on their credit reports, acc/to a study released in April by the #Consumer #Financial #Protection Bureau. …People affected by medical debt disproportionately live in the South or in low-income communities….
