Latest Finance News

Home finance and mortgage business likely to grow significantly
Over the years, IIFL has initiated various financial services to emerge as a leading non-banking financial company (NBFC). In an e-mail interview with The Hindu, its Group Managing Director R. Venkataraman spoke at length on various aspects of the …
Read more on The Hindu

MB Financial set to acquire American Chartered in major banking deal
MB Financial is poised to acquire the parent of American Chartered Bank, one of the most attractive prizes in Chicago banking. The buyout, which could be announced as early as tomorrow, is valued at about $ 430 million, according to sources. That would …
Read more on Crain’s Chicago Business


Why Won't Banks Finance The Special Old Car I Want?

Why Won't Banks Finance The Special Old Car I Want?
For those of you who don't want to read an email from someone named Chet, allow me to sum it up for you: Chet is asking why the hell banks are so willing to finance rapidly depreciating new cars, and simultaneously so unwilling to finance an older car …
Read more on Jalopnik

UK public finances much worse than expected
Pressure is mounting on George Osborne ahead of next week's Autumn Statement as “terrible” public finance figures suggested the government would miss its borrowing targets this year. Deficit reduction has slowed so rapidly in recent months that some …
Read more on Financial Times

7th pay commission won't impact government's finances: Ratan Watal, Finance
NEW DELHI: The government has said the seventh pay commission award will not impact its finances as higher economic growth next year should help fund this extra burden of Rs 1.02 lakh crore, as it sought to quell concerns about the pay commission …
Read more on Economic Times


Latest Money News

Which Oregon candidates puff on cigarette cash? 2016 money in politics
SALEM — Big bucks from cigarette companies? Early help for a Survivor contestant? Is Ted Wheeler cashing in on Charlie Hales' exit from the Portland mayor's race? Welcome back to our roundup of campaign finance highlights from Oregon's 2016 races.
Read more on OregonLive.com

Scott Disick in Talks to Make Money Using His Beard
Scott Disick — who is in outpatient rehab treatment — is in talks to be the spokesperson for the Dollar Beard Club, Us Weekly confirmed on Sunday, Nov. 15 Credit: Mindy Small/FilmMagic. Making that money. Scott Disick is in talks to be a spokesperson …
Read more on Us Magazine


Latest Money News

Schaaf clarifies where Raiders stadium money would come from
I have repeatedly said that I believe we can create new homes for Oakland's sports teams with private money. I've also been clear that the taxpayer money I would support using is money for infrastructure improvements that the taxpayers would own in …
Read more on Comcast SportsNet Bay Area

Braves Fans Can Put Their Money on the Team
Liberty Media is hoping to raise enough money through the sale of the Braves' tracking stock to recoup the money it lent the Braves to build their new stadium outside Atlanta. The Braves are one of the few professional teams in the United States that …
Read more on New York Times

Jim Paulsen: Park your money here-not the US
Diverging monetary policy and economic recovery leave American companies with less upside than those based overseas, one widely followed market watcher said Friday. The United States has enjoyed a stronger economic rebound than the rest of the …
Read more on CNBC


Latest Money News

Marco's Money Problems
The press is focused on Marco Rubio's personal financial struggles. And our columnist Kimberley Strassel notes that reporters aren't the only ones: “'He is a disaster with his credit cards' declared Donald Trump, who is familiar with business …
Read more on Wall Street Journal

Rand Paul Is Investing for the Apocalypse
So who, in this environment, would be stuffing all their cash in money market funds and buying insurance against inflation? Republican Presidential candidate Rand Paul, that's who. Paul has been decrying the debasement of the currency (and sometimes …
Read more on TIME

Surgeon Hid Money In Divorce, Is Convicted Of Tax Evasion, Faces Up To 95
Tax evasion doesn't always come out of trying to cheat the government. Sometimes it is a by-product of trying to cheat someone else. A 67-year old Anchorage, Alaska plastic surgeon, Dr. Michael Brandner, was getting divorced. He didn't want to fork …
Read more on Forbes


ACRES Capital LLC Funds a First Mortgage Bridge Loan in Hollywood, FL



ACRES Capital, LLC (“ACRES”) announces the funding of a bridge loan on a 2.7 acre site approved for the construction of a luxury condominium project located in Hollywood, FL.

The Sponsor intends to utilize the loan proceeds to fund the remaining predevelopment and soft costs associated with the project. Construction is currently underway for the 15-story, 247-unit luxury condominium with 6,222± SF of ground floor retail space. The construction is expected to be completed in January 2017.

“This was a great opportunity to make a loan on a well-received project in a revitalizing neighborhood. To date the sponsor has executed his plan remarkably well on,” according to Mark Fogel, President and Chief Executive Officer of ACRES.


ACRES Capital is a direct lender operation on a nationwide platform. The company seeks opportunities in the $ 3 million to $ 30 million range on stabilized to distressed properties including Multifamily, Retail, Office, Hospitality, Industrial and New Construction. For more information please visit http://www.acrescap.com.

Related Mortgage Press Releases


GSF Mortgage Welcomes Diligent Branch in St. Louis


GSF Mortgage is pleased to welcome Jim Donovan and his team in St. Louis, Missouri. Donovan, branch manager, joins TeamGO with 11 years of mortgage industry experience.

Donovan was a member of Midwest Mortgage Capital and when MMC decided to join forces with GSF Mortgage, Donovan chose to come aboard because the company aligned with his personal attitude: every loan matters, every person matters. He values the family-like atmosphere where he is on a first name basis with decision makers, processors and underwriters.

Donovan is a true leader. If you ask him what he does for a living, he will tell you he makes dreams come true. His passion is building relationships and partnerships. Donovan sees an opportunity to grow into a bigger role at GSF Mortgage and help the company expand their footprint in other states by recruiting more net branches.

“I couldn’t be more proud to welcome such a diligent team to GSF Mortgage. Their culture aligns directly with our company’s and Jim will be a great aggregate to help take the company to the next level. We look forward to supporting them in their market,” says National Sales Director Mike Maida.

Donovan is joined by a very diverse team with tenure ranking from four to six years. Nonetheless, they are the definition of a team: they share successes and celebrate victories. Above all, they all share the same vision. His team includes: Brian Agee, Brian Alexander, John Charlton, Matt Hess, Mark Howard, Dusty Lilledahl, Rod Nash, Lodell Parks, David Quist and Cody Todt.

GSF Mortgage continues to seek mortgage rockstars for a number of positions throughout the United States including branch managers, mortgage underwriters and mortgage processors. If you are looking for a dynamic company with a great work culture, benefits and a remarkable reputation, please visit gogsf.com/careers.

# # #

Founded in 1995, GSF Mortgage is an established and experienced direct mortgage lender. With 20 years of lending experience, GSF professionals originate, process, underwrite, and fund all loans. We continue to serve the next generation of homeowners with the GoGSF brand. We are focused on flexible and transparent mortgage lending and are on a quest to continue hiring the “best of the best” in the mortgage industry. With many locations, our strengths keep GSF Mortgage “Lending in Your Favor”. Interested in finding out more about us? Visit us at GoGSF.com and check out our careers available!


Scripps College Announces Departure of President Lori Bettison-Varga


Lori Bettison-Varga, President of Scripps College since 2009, will step down in October.

Lori Bettison-Varga, president of Scripps College since 2009, will leave her post this fall, Scripps College announced today. Bettison-Varga has been named President and Director of the Natural History Museum of Los Angeles County, pending approval by the Los Angeles County Board of Supervisors.

“President Bettison-Varga has led the College with distinction over the past six years, building on a legacy of academic excellence, launching ambitious new strategic initiatives, and enhancing our national and international profile,” said Mark Herron, Chair of the Scripps College Board of Trustees.

“While President Bettison-Varga’s departure represents a loss for the Scripps community, the Board congratulates her on her new role leading one of Los Angeles’ most prestigious cultural institutions. We know the Natural History Museum will benefit from her passion for education, science, and civic and community engagement, just as we have at Scripps College,” Herron said in a message to the Scripps community.

During her six-year tenure, President Bettison-Varga advanced Scripps College’s reputation as a superior liberal arts college and a leader in women’s education. Student applications increased 20 percent, resulting in a more selective admission process; the College launched an ambitious $ 175 million campaign with $ 115 million raised to date for strategic priorities including scholarships, new facilities, and the LASPA Center for women’s leadership development; and Scripps has recorded a budget surplus each of the past six years while the endowment per student has grown more than 15 percent.

“I’ve enjoyed working with President Bettison-Varga, and I know the Scripps community will miss her passion and enthusiasm,” said Scripps College trustee Jean Bixby Smith. “At the same time, I eagerly anticipate the positive impact she will have on one of Los Angeles’ most important cultural institutions, and I congratulate the Natural History Museum on selecting a tremendous leader.”

Scripps College is consistently ranked in the top tier of national colleges by U.S. News and World Report, the Princeton Review, Forbes, and Business Insider, among others. Scripps is ranked seventh among U.S. colleges producing the greatest number of Fulbright scholarship award winners.

The Board of Trustees has appointed Amy Marcus-Newhall, vice president for academic affairs and dean of faculty, as interim president effective mid-October. Marcus-Newhall will work closely with the president to manage the transition until her departure.

“It has been an honor and privilege to serve Scripps College for the past six years and to support its legacy of foundational coursework in interdisciplinary humanities, distinctive capstone senior research experience, and its commitment to the liberal arts in its mission to develop future generations of women leaders,” Bettison-Varga said in a letter to the Scripps Community.

Scripps College is a top-ranked liberal arts and women’s college and a member of The Claremont Colleges in Southern California. The mission of Scripps College is to educate women to develop their intellects and talents through active participation in a community of scholars, so that as graduates they may contribute to society through public and private lives of leadership, service, integrity, and creativity.

More Credit Report Press Releases


American Consumer Credit Counseling Offers Tips on What You Need to Know Before You Refinance Your Home


Getting a new mortgage to replace the original is a great way to save money and lower your monthly payments, but not all lenders and borrowers are good candidates. That’s why national nonprofit American Consumer Credit Counseling is offering helpful tips for homeowners to know before they restructure their mortgage.

Many homebuyers are misinformed about down payments, lender rules, mortgage rates and refinancing. According to a recent survey from Zillow, 47 percent of current homeowners incorrectly believe they must wait at least one year between refinancing. Separately, the survey revealed that one in five homeowners – nearly 14 million Americans – said they did not believe underwater borrowers (owing more than your home is worth) could refinance. In addition, more than one-third of current homeowners incorrectly believed that you can only refinance your home every 12 months.

“Too many homeowners are unaware of the opportunities to refinance and save money,” said Steve Trumble, president and CEO of Newton-based American Consumer Credit Counseling. “As people work through their careers and continue to increase their salary, they are more likely boost their credit score. With this increase in credit comes the ability to procure home loans at lower rates. A lower interest rate can have a significant effect on monthly mortgage payments, potentially saving homeowners hundreds of dollars a year.”

ACCC offers the following tips to know before refinancing a home loan:

    Beware of Increased Terms: Borrowers should be aware that increasing the term of the loan repayment means more payments and more interest paid. Borrowers can use an online home refinance calculator to help calculate monthly payments under these repayment plans.

    Meet Qualifying Criteria: Before deciding to refinance, borrowers should be sure to meet all of the qualifications. To refinance, homeowners should have regular income, at least 10 to 20 percent equity in their homes, and a FICO credit score of 740 or better. Borrowers with scores as low as 620 can qualify for a Federal Housing Administration mortgage, which are available through banks, credit unions, and other lenders.

    Look at Short Term Loans: If you’re not going to stay in your home for over 10 years, you should consider a hybrid loan that is fixed for 5, 7, or 10 years and then converts into a 1-year adjustable rate mortgage. These loans reduce the amount of interest paid, but if you stay beyond the fixed period, your rate could rise.

    Know Your Options: Before refinancing, weigh your options. Compare monthly payments, interest savings, length of mortgage, refinancing costs, eligibility etc. Before you refinance speak with your current lender and see what types of options are available and let the lender know you are shopping around for the best deal.

All homeowners have their own unique and personal financial situation, but taking advantage of refinancing can be rewarding – particularly when consumers take the time to properly research and make educated decisions on the timeliness of their repayments.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

    For credit counseling, call 800-769-3571
    For bankruptcy counseling, call 866-826-6924
    For housing counseling, call 866-826-7180
    Or visit us online at ConsumerCredit.com

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management and debt relief through education, credit counseling, and debt management solutions. In order to help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loans, youth and money, homeownership, identity theft, senior living and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the Association of Independent Consumer Credit Counseling Agencies. For more information or to access free financial education resources, log on to ConsumerCredit.com or visit TalkingCentsBlog.com.


Tips For Saying Yes To The House


The Federal Savings Bank knows that some first-time home buyers might not be committing to each other before committing to a mortgage. Forbes noted on July 7th in a release that historically low interest rates may be encouraging individuals to purchase a home instead of an engagement ring. For those deciding to purchase real estate before tying the knot, there are a few things to consider to ensure the transaction goes smoothly and to avoid any hiccups down the road.

The following are tips from The Federal Savings Bank for how to proceed with a mortgage before marriage.

Know both credit scores

Couples looking to invest in a home together should both share their credit reports.

“If a couple is entering into a business deal, which is what a home purchase between two nonmarried people is, they should know the creditworthiness of their business partner. A person’s credit score will impact your ability to obtain a mortgage and the interest rate you will pay,” noted Kevin Reardon, a financial adviser, according to a Time.com release from July 1st.

Unmarried couples have an advantage because the individual with the higher score can apply for the mortgage. Typically, married couples are considered one unit. If someone has bad credit, both are impacted.

Have a plan

Set up a joint checking account where both parties can deposit money into to pay for the mortgage, property taxes, maintenance and any insurance.

In addition, the two parties should decide which name goes on the deed and what happens if the two decide to separate. Whatever terms are finally agreed upon, it is important to get it in writing. The law for homeownership between an unmarried couple is much less precise than the law for those who tied the knot then bought a home.

Contact the Federal Savings Bank, a veteran owned bank, to learn more about mortgages.

More Mortgage Press Releases