Westpac New Zealand’s Post

Non-QM Bank Statement and 1099 Programs? 👋 Are you currently navigating the wild wild west that is bank statement programs? Or perhaps you're unsure about diving into this area due to a lack of clarity or just not finding the right lender. I'd like to introduce you to a trusted friend and expert in this field, Dan Mahoney with American Heritage. In a recent, Q&A, Dan and I discussed the ins and outs of their unique bank statement and 1099 programs and how they are different than most.   There is also a bonus prospecting hot Tip from Dan. 🔍 🎥 I highly recommend spending a few minutes watching this the full video. It's concise, just about 5 minutes, and packed with key information. Especially for those who haven't yet ventured into business with American Heritage, or have queries about bank statement loans, this video is a must-watch. ▶️ Here's the full video https://lnkd.in/gqvAnvw7 This is a market where being the Expert matters and Brand You Inc. is being built every day. P.S. If you didn't see the last American Heritage Video on Stacking Fees that is worth checking out also. https://lnkd.in/gA_AtHpa #nonqm #bankstatementloans #1099loan #mortgagebroker #selfemployed #gigworker James Gueltzow

Found this on a local credit union's website: "The primary difference between credit unions and banks is ownership. Banks are for-profit companies with a primary obligation to their shareholders. They make money by charging interest on loans and collecting account fees. Credit unions, on the other hand, are not-for-profit institutions owned and controlled by their members, which are account holders. Since credit unions operate to serve their members, the money that would have been profit is instead used to help credit union members. An example would be how People’s provides all members with the same loan rates regardless of their credit score or the amount in their accounts." I believe Credit Unions are a solution to the societal problems created by banks. https://lnkd.in/gapKD9mP

Deutsche Bank Seeks To "Dump' $1 Billion Of Commercial Real Estate Loans! Why? In Q2 2024 the bank's balance sheet contained $16 billion in CRE loans, with $7 billion of that total in the office sector. And compared to 2023, provisions for bad loans have doubled putting serious pressure on the bank's profitability. Deutsche Bank has been called “The world’s most troubled bank” and it needs to work to rectify the situation. Chart Source: CRE Daily _____________________________________________ If You Are Buying A Home Or Commercial Property In New York State… Did You Know That Title Insurance Companies Are NOT All The Same, Including The Cost? Read '10 Significant Ways That Hallmark Abstract Service Differentiates Itself From Many New York Title Insurance Providers!' here https://lnkd.in/eTQAWCdH. And remember that it’s your RIGHT to choose the title company you want to use! Questions? Contact us at [email protected] or (516) 741-4723. Hallmark Abstract Service...You Buy Real Estate, We Protect It! #commerciallending #CRE #officesector #banks #lending #CREloans

According to the latest financial performance data released today by the National Credit Union Administration, total assets in federally insured credit unions rose by $96 billion, or 4.4 percent, over the year ending in the first quarter of 2024 to $2.31 trillion. During the same period, total loans outstanding increased $71 billion, or 4.6 percent, to $1.60 trillion. Insured shares and deposits rose $40 billion, or 2.3 percent, to $1.77 trillion, from one year earlier. The delinquency rate at federally insured credit unions was 78 basis points in the first quarter of 2024, up 25 basis points compared with the first quarter of 2023. https://lnkd.in/dThJmgum

Federal Deposit Insurance Corporation (FDIC) issues new details surrounding Real Estate Valuation models. 5 Organizations jointly issued a Final Rule to implement the quality control standards mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) for the use of automated valuation models (AVMs) by mortgage originators and secondary market issuers in determining the collateral worth of a mortgage secured by a consumer’s principal dwelling. Aegis FinServ Corp™ #SubScriptionServices Team offers FI’s latest updates related to Compliance, Banking, Regulations and guidance. https://lnkd.in/eC8RmgXB

This is the latest report from the Federal Deposit Insurance Corp (FDIC) regarding the overall financial conditions of banks. One concern for the FDIC is the increase in non-current loan balances among non-owner-occupied commercial real estate. The report highlighted the percent of assets figure has not been this high since 2013. One of our specialize is financing non-owner occupied commercial real estate. Reach out to us for more details. #commercialrealestate #businessfinancing #nonowneroccupiedproperty #realestateloans

Bank M&A activity has slowed down, but the selling of non-core subsidiary businesses is on the rise. Find out why banks are divesting these businesses and how nonbanks are stepping in as acquirers in this Bank Director article, featuring my Crowe colleague Patrick Vernon, CPA. https://bit.ly/3Ora1VW

Arch Capital provided insurance for mortgages, and sold bonds that allowed it to share some of that risk with investors: holders of the notes would take losses if enough homeowners defaulted on their loans. Selling these insurance-linked securities had lowered its capital requirements for ratings purposes. But S&P Global Ratings last month simplified its capital requirements for mortgage insurance, in a way that limited the benefits of structured reinsurance, which is essentially what insurance-linked securities offer. On Monday, Nov. 20, Arch Capital announced it was calling eight securities because it became less effective at reducing its capital requirements under S&P’s new guidelines. Bonds that traded for as much as about 106 cents on the dollar were bought back at face value. https://lnkd.in/e6KYSg7c

Banks vs. Credit Unions: What’s the Difference? Whether you’re opening your first bank account or are considering moving to a new financial institution, you may be wondering about the differences between a bank and a credit union. While both are good options, there are a few things you should keep in mind before opening a new account. Read more at: https://lnkd.in/gM9KT9Us #financialgoals #financialadvisor #financialtips

Discover the latest insights into the CFPB's supervisory oversight of non-bank entities. Dive into the analysis by Erik Halvorson and Andrew Narod on the Financial Services Perspectives blog and learn more about the complexities of the first public supervisory designation of a high-risk nonbank installment lender. [https://bit.ly/49ZrcWX]