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Lenders notice valid despite liquidation of service agent

Key Point The liquidation of an agent for service appointed by a Borrower under a loan agreement did not prevent the Lender from validly serving process on the Borrower by delivering documents to that agent. The facts A loan agreement contained the following clause: Service of process. Without prejudice to any other mode of service […]

Hampton Roads Hires Four Lenders from Northwest Savings in Baltimore

The Credit Conundrum

American consumers with poor credit face quite a conundrum and most of them don’t even know it. Consumers all share one basic need: Good credit. As well all know, good credit allows consumers to obtain credit and loans at the best interest rates. That means a consumer with good credit can shop around for the […]

Payday lenders collecting utility bills might end

KANSAS CITY, Mo. (AP) — Missouri regulators are again considering whether to stop payday lenders from collecting utility bill payments from their customers. Critics contend cash-strapped customers might be tempted to take out loans to pay the bills and end up paying the high interest rates charged by payday lenders, while utilities argue its a […]

Need an Alternative Lender? 3 Things to Consider

Even if a business owner does qualify for a bank loan, the process may move too slowly for the ambitious entrepreneur. For this reason, alternative lenders are becoming a popular choice for startups and established businesses alike. Small business owners have an entrepreneurial mentality, which means when they see an opportunity, they want to move […]

Fellow Lenders Save East L.A’s Pan American Bank

More than a dozen West Coast banks, including eight in Los Angeles County, pumped $6 million of new capital into East LA lender Pan American Bank, which was on the verge of being shut down by regulators. The bank, which hasn’t been profitable since 2005, had been working on a capital raise since last year, […]

The credit catch 22: How to build credit if you can’t get credit

The idea that everybody has to start somewhere can be really frustrating for people without credit: Good credit comes from properly managing loans and credit cards, but it can be difficult to get loans and credit cards if you have bad credit (or no credit). How the heck is that supposed to work? A lot […]

Auto Shoppers are Getting Instant Approval on No Credit Check Auto Loans …

Auto Shoppers are Getting Instant Approval on No Credit Check Auto Loans Through Complete Auto Loans The nationwide lending network is offering instant bad credit auto loans with 100% approval rates.

Nonprofit’s One Mortgage program has lenders looking for value

Lenders are finding themselves walking a tightrope between providing lower-income Americans with quality housing and keeping their fiscal houses in order. Massachusetts newest first-time homebuyer program has appealed to previously uninvolved small community banks, but lost the backing of Bank of America, the states largest mortgage lender. Experts were unanimous in their belief that the […]

Payday lenders facing cap on interest profits

The City Watchdog said that from January 1, interest and fees charged by short-term lenders must not exceed 0.8% per day of the amount borrowed. On top of that, fixed default fees will be capped at £15 and the overall cost of a payday loan should never be more than double the amount borrowed. The […]

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