Key insight: A single borrower obtained fraudulent commercial loans from bank after bank for nearly a decade, using companies he controlled and false equipment-purchase applications. What’s at stake: The case shows how commercial-loan underwriting can be gamed repeatedly across institutions; U.S. Bank alone is owed about $5.6 million. Supporting data: Restitution totals $19,414,187.15 across six…
The number of new-build developments coming to the market is at its lowest level since 2017, limiting stock for first-time buyers. The average mortgage rate currently sits at 4.92%, up from 3.53% four years ago. For buyers, developers and estate agents alike, this translated to demand constraints. Rightmove urged the government to support developers…
Credit unions don’t want to be disadvantaged by their technology. They aim to offer members the same capabilities available at competing financial institutions. A critical part of that is having an ecosystem they can plug into—one that allows them to run their operations efficiently while staying competitive. To help credit unions achieve that, Velera recently…
Residential real estate could be approaching a reckoning over artificial intelligence. Earlier this week, Douglas Elliman announced it was overhauling its technology, including launching a new company powered by Google Cloud AI. Along with the announcement, CEO Michael Liebowitz said the tech upgrade would lead to layoffs at the firm and that he ultimately expected…
Applied Digital: The 37% Drop Doesn't Get Me Excited
PODCAST | Realising the full potential of AfCFTA begins with collective action and fighting corruption Home / Posts / PODCAST | Realising the full potential of AfCFTA begins with collective action and fighting corruption Explore our financing solutions How TFG are helping to finance tomorrow’s trade Find out…
Aldermore has cut rates across its special edition buy-to-let range for customers wanting to switch products. For existing Aldermore customers, the lender’s two-year buy-to-let fixed rate at 70% LTV with no fee has been cut by 35bps to 6.44%. This option is for individual and company landlords with one residential property. Aldermore director of mortgages…
Walk around New York and you might wonder why some blocks have little or no housing despite tremendous demand for it. You have to connect the dots. At the Arrow Linen site, a Brooklyn Council member is seeking applicants for a task force to monitor construction of 250 apartments. Um, what construction? Apex Development received…
Are you planning to purchase a new home? Have you planned your home loan EMIs in advance in accordance with your monthly income? These are some fundamental questions that must be answered first in order to avoid a difficult-to-manage home loan. Furthermore, it is a given that owning a new home is a dream for…
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