Biometrics financial services – Aspect SDM http://aspect-sdm.org/ Fri, 20 May 2022 14:36:53 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://aspect-sdm.org/wp-content/uploads/2021/06/cropped-icon-32x32.png Biometrics financial services – Aspect SDM http://aspect-sdm.org/ 32 32 SoFi Technologies (SOFI) vs. Competitor Head-to-Head Survey https://aspect-sdm.org/sofi-technologies-sofi-vs-competitor-head-to-head-survey/ Fri, 20 May 2022 14:36:53 +0000 https://aspect-sdm.org/sofi-technologies-sofi-vs-competitor-head-to-head-survey/

Sofi Technologies (NASDAQ: SOFIGet a rating) is one of the 71 public companies in the “Non-custodial credit institutions” sector, but how does it compare to its peers? We will compare SoFi Technologies to related companies based on the strength of its profitability, analyst recommendations, risk, institutional ownership, dividends, earnings and valuation.

Risk and Volatility

SoFi Technologies has a beta of 0.9, suggesting its stock price is 10% less volatile than the S&P 500. Comparatively, SoFi Technologies’ peers have a beta of 8.63, suggesting its stock price average is 763% more volatile than the S&P 500. .

Valuation and benefits

This table compares the gross revenue, earnings per share (EPS), and valuation of SoFi Technologies and its peers.

Gross revenue Net revenue Price/earnings ratio
Sofi Technologies $984.87 million -$483.94 million -9:40 a.m.
Competitors of SoFi Technologies $4.26 billion $795.25 million 8.22

SoFi Technologies peers have higher revenue and profit than SoFi Technologies. SoFi Technologies trades at a lower price-to-earnings ratio than its peers, indicating that it is currently more affordable than other companies in its industry.

Profitability

This table compares the net margins, return on equity, and return on assets of SoFi Technologies and its peers.

Net margins Return on equity return on assets
Sofi Technologies -36.32% -9.24% -4.49%
Competitors of SoFi Technologies 1.81% 5.06% 4.72%

Analyst Notes

This is a summary of current ratings and recommendations for SoFi Technologies and its peers, as provided by MarketBeat.com.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
Sofi Technologies 0 5 7 0 2.58
Competitors of SoFi Technologies 435 1663 1894 82 2.40

SoFi Technologies currently has a consensus price target of $14.04, indicating a potential upside of 82.08%. Together, the “Non-custodial credit institutions” companies have an upside potential of 88.36%. Given that SoFi Technologies peers have higher upside potential, analysts clearly believe that SoFi Technologies has less favorable growth aspects than its peers.

Insider and Institutional Ownership

56.5% of SoFi Technologies shares are held by institutional investors. In comparison, 52.4% of the shares of all the “Non-custodial credit institutions” companies are held by institutional investors. 35.1% of SoFi Technologies shares are held by company insiders. In comparison, 16.4% of the shares of all the “Non-custodial credit institutions” companies are held by insiders. Strong institutional ownership indicates that endowments, hedge funds, and large fund managers believe a stock will outperform the market over the long term.

Summary

SoFi Technologies peers beat SoFi Technologies on 8 of the 12 factors compared.

About SoFi Technologies (Get a rating)

SoFi Technologies, Inc. provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow its members to borrow, save, spend, invest and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans. The company also provides cash management, investment and technology services. Additionally, it operates Galileo, a technology platform that offers services to financial and non-financial institutions; and Apex, a technology platform that provides investment custody and clearing brokerage services, as well as Technisys, a cloud-based digital multi-product core banking platform. The company was founded in 2011 and is based in San Francisco, California.



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What is a cash refinance? https://aspect-sdm.org/what-is-a-cash-refinance/ Wed, 18 May 2022 00:26:57 +0000 https://aspect-sdm.org/what-is-a-cash-refinance/

FAQ: Refinancing by withdrawal

Before choosing a cash-out refinance, consider these frequently asked questions.

How much money can I get from cash-out refinancing?

The amount of money a borrower can get with a cash refinance depends on several factors, including their credit rating, the type of mortgage you use, and the type of property attached to the loan. Generally, the amount you can borrow is capped at 80% of the value of your home.

How soon after cashing out refinance can I receive the money?

The average time to refinance a home is 35 to 45 days. After closing, it may take 3-5 days for the owner to receive their money.

How can a cash-out refinance lower interest rates?

If mortgage rates have gone down since you bought your home, refinancing may allow you to lower your interest rates.

Mortgage and refinance rates are also generally more reasonable than those associated with credit cards, so if you need access to a lump sum of money, a refi will be more affordable in the long run.

Does a cash-out refinance affect my credit rating?

A cash refinance is considered a new loan. Changing your total debt amount and credit mix can potentially affect your credit score, but any impact on your credit report should be temporary.

Can I get cash refinance for a second home?

Secondary residences can be refinanced in the same way as primary residences, with a few minor differences. Interest rates will be slightly higher on second homes than on primary homes due to the increased risk for the lender.

You will also be able to borrow less of your capital. Where you can borrow up to 80% of the property value on a primary property, cash refinances on second homes are capped at 75%.

What is the difference between a cash-out refinance and a cash-out refinance?

The difference between cash-out and cash-out refinances mainly comes down to the amount you are refinancing. In a cashless refinance, your lender will not refinance more than your current loan balance, often in an effort to lower your interest rate or the term of your loan. Like other types of rate and term refinances, you are not advanced any additional money with a cashless refinance.

Conversely, a cash refi allows homeowners with equity in their home to refinance to a loan amount greater than their current balance.

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Top 10 Places to Get a Personal Loan Online https://aspect-sdm.org/top-10-places-to-get-a-personal-loan-online/ Fri, 13 May 2022 18:00:37 +0000 https://aspect-sdm.org/top-10-places-to-get-a-personal-loan-online/

Economic times have been difficult for most of us. It is often difficult to make the salary spread from one pay period to the next. When an unexpected event blows your budget for the month, you may wonder what to do to fill the void. One solution is to take out a personal loan online to help you through the tough times. It is essential to avoid predatory loan providers so as not to pay hundreds of percentage points on small loans. If you need to take out a personal loan online, it is essential to compare interest rates and contact the financial company that offers the most competitive rates. Most people with decent credit scores can save by comparing. Even if you have bad credit, but are employed, there is a loan for you. Here are the top 10 places to get a personal loan online.

10. Achieved

  • Rating: 4.5
  • Minimum credit score: None
  • APR: 5.39-35.99%

Nerd Wallet recommends Upstart for people with bad or no credit. Upstart offers online personal loans from $1,000 to $50,000. It is one of the best options for applicants with a short credit history. This is good for borrowers trying to build their credit. Upon approval, funds may be available within one business day. You can also use this company to consolidate your debts or send direct payment to creditors. You can also choose the repayment date for your loans or change the repayment date. The company charges an assembly fee. You must have a minimum gross income of $12,000 with full-time or part-time employment for 6 months or other regular income. You must be a resident of the United States with a valid mailing address, bank account, and valid email address. Loan terms vary from 3 to 5 years. At 36 months a 5.39% loan will cost you €2,285.74 for €1,000.

9. Lending Club

  • Rating: 4.5
  • Minimum credit score: 600 or higher (good to fair)
  • APR: 6.34-35.89%

Lending Club offers online personal loans to applicants with a credit score of 600 or higher. Loans range from $1,000 to $40,000. The company does a soft credit check when you pre-qualify and offers joint loan options if you have a co-signer. You can change the payment date to the most convenient due date. The company charges a set-up fee and you have two options of repayment duration. Lending Club is a reputable finance company with high ratings in the online personal loan industry.

8. Flow of light

  • Rating: 5.0
  • Minimum credit score: 660 or higher (good or excellent credit)
  • APR: 4.99-19.99%

Lightstream offers loans from $5,000 to $100,000 to people with good or excellent credit. The advantages of Lightstream loans are low interest rates with 0.5% discount for automatic payments and no fees. On the other hand, you must have a credit history of several years with no prequalification option on the website. It does not offer direct payment to creditors for consolidation loans. It is one of the best and cheapest loans for applicants with good to excellent credit.

7. Loan Point

  • Rating: 4.0
  • Minimum credit score: 600 or more
  • AVR: 7.99-35.99%

Lending Point is an online personal loan choice that is recommended for applicants with bad credit who need funds quickly. The interest rate is based on your credit score. The company offers loans ranging from $2,000 to $36,500. They do a credit check after pre-qualification and offer the option to change your payment due date. Funds may appear in your account one day after your loan is approved. The APR is high, so it’s not the best option for applicants with good to excellent credit. It is best for borrowers with bad credit or limited credit history. This company does not participate in co-signed or joint loans.

6. Find out

  • Rating: 4.3
  • Minimum Credit Score: Not listed on website
  • AVR: 5.99-24.99%

Investopedia recommends Find out as the best online personal loan provider for debt consolidation. The APR is reasonable compared to other online personal loans and you can receive your funds as soon as a day after approval. The company provides loans from $2,500 to $35,000. They advertise that the apps have no impact on your credit rating, so we assume they have no influence on your credit rating. They do not charge origination fees or administrative fees and they send payments to creditors on your behalf or deposit funds in your bank account. Loan terms range from 36 to 84 months.

5. Upgrade

  • Rating: 4.3
  • Minimum credit score: 550
  • APR: 5.94-35.97%

Upgrade is a lender that provides personal loans online to people with bad credit, who have a minimum credit score of 55 or higher. Loan amounts range from $1,000 to $50,000. The APR is based on your credit score. The company charges an origination fee of between 2.9 and 8% of the loan amount, but offers discounts for automatic payment. They also offer direct payment to creditors. Most loan funds are released within a day of loan approval.

4. Rocket Loans

  • Rating: 4.2
  • Minimum credit score: 580
  • AVR: 5.97-29.99%

Rocket Loans offers loans to applicants with a secure monthly source of income and a minimum credit score of 580. Loans of $2,000 to $45,000 are available, with most loan funds approved being released on same day. Rocket Loans are available to applicants in most states. The company charges origination fees of between 1 and 6% of the loan and does not send funds directly to creditors. They don’t offer a co-signer or joint program, but they are one of the fastest lending companies for those with bad to excellent credit.

3. Loans below 36%

  • Rating: 4.8
  • Minimum credit score: None
  • AVR: 5.99-35.99%

Loans Under 36% is a lending company that provides online personal loans to people with bad credit, limited credit history or those with excellent credit at competitive rates. The loans offered are based on personal income and can be up to $35,000. Borrowers can choose from loan terms between 3 to 72 month repayment plans, depending on the loan amount.

2. Loan Tree

  • Rating: 4.6
  • Minimum credit score: 350
  • APR: 2.49-35.55%

Top 10 Personal Loans recommends Lending Tree as one of the best loan providers compared to the sea of ​​lenders in the financial market. They are a lender that helps borrowers with bad to excellent credit, offering the most competitive rates based on credit history. Borrowers can choose from loan amounts up to $50,000 based on personal income with loan terms from 12 to 144 months. The company offers online personal loans to eligible individuals.

1. Credible

  • Rating: 4.9
  • Minimum credit score: 600
  • APR: 3.49-35.99%

Credible offers loans up to $100,000 for applicants with a stable source of income and a minimum credit score of 600 or higher. Submit a request to receive multiple offers from lenders. Loan terms range from 12 to 84 months. Interest rates are competitive and best for those with excellent credit ratings. Loans taken out through Credible do not affect your credit score. The application process is simple and upon approval, funds are released within 24 hours.

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Consumer and Business Debt Consolidation Market Size and Overview 2022-2030 | Key Players – Discover Personal Loans (US), Lending Club (US), Payoff (US), SoFi (US), FreedomPlus (US) https://aspect-sdm.org/consumer-and-business-debt-consolidation-market-size-and-overview-2022-2030-key-players-discover-personal-loans-us-lending-club-us-payoff-us-sofi-us-freedomplus-us/ Mon, 09 May 2022 18:20:02 +0000 https://aspect-sdm.org/consumer-and-business-debt-consolidation-market-size-and-overview-2022-2030-key-players-discover-personal-loans-us-lending-club-us-payoff-us-sofi-us-freedomplus-us/

The latest market research report analyzes Consumer and Corporate Debt Consolidation Market demand by different segments Size, Share, Growth, Industry Trends and Forecast to 2030 in its database, which depicts a picture systematics of the market and provides an in-depth explanation of the various factors that are expected to drive the growth of the market. The Universal Consumer and Corporate Debt Consolidation Market Research Report is the high quality report containing in-depth market research. It presents a definitive solution to obtain market insights with which the market can be visualized clearly and thus important decisions for the growth of the business can be taken. All data, facts, figures and information covered in this business document are supported by renowned analytical tools including SWOT analysis and Porter’s five forces analysis. A number of steps are used while preparing the Consumer and Business Debt Consolidation report taking into consideration the feedback from a dedicated team of researchers, analysts and forecasters.

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Anticipated sale of a product is also included in this Consumer and Business Debt Consolidation market report which helps market players to bring new products to market and avoid mistakes. It suggests which parts of the business need to be improved for the business to succeed. It’s also easy to discover a new chance to stay ahead of the market, and this market research report provides the latest trends to help you place your business in the market and gain a significant advantage. .

One of the crucial parts of this report includes leading vendor’s discussion of Consumer and Business Debt Consolidation industry brand summary, profiles, market revenue, and financial analysis. The report will help market players to develop future business strategies and learn about the global competition. A detailed market segmentation analysis is done on producers, regions, type and applications in the report.

Key Players Covered in Consumer and Commercial Debt Consolidation Markets:

  • Discover personal loans (USA)
  • Lending Club (USA)
  • Payment (US)
  • SoFi (US)
  • FreedomPlus (US)

Global Consumer and Business Debt Consolidation Market Segmentation:

Consumer and Business Debt Consolidation Market Split By Type:

  • Credit card debt
  • Overdrafts or borrowings

Consumer and Business Debt Consolidation Market Split By Application:

The analysis of the study has been carried out around the world and presents the current and traditional growth analysis, competition analysis and growth prospects of the central regions. With industry-standard analytical accuracy and high data integrity, the report offers an excellent attempt at highlighting key opportunities available in the global Consumer and Business Debt Consolidation Market to help players draw conclusions. strong positions in the market. Buyers of the report can access verified and reliable market forecasts including those regarding the overall Global Consumer and Business Debt Consolidation Market size in terms of sales and volume.

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Scope of Consumer and Corporate Debt Consolidation Market Report

Report attribute Details
Market size available for years 2022 – 2030
Reference year considered 2021
Historical data 2018 – 2021
Forecast period 2022 – 2030
Quantitative units Revenue in USD Million and CAGR from 2022 to 2030
Segments Covered Types, applications, end users, and more.
Report cover Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Scope of customization Free report customization (equivalent to up to 8 analyst business days) with purchase. Added or changed country, region and segment scope.
Pricing and purchase options Take advantage of personalized purchasing options to meet your exact research needs. Explore purchase options

Regional Consumer and Business Debt Consolidation Market Analysis can be represented as follows:

This part of the report assesses key regional and country-level markets on the basis of market size by type and application, key players, and market forecast.

Based on geography, the global consumer and corporate debt consolidation market has been segmented as follows:

    • North America includes the United States, Canada and Mexico
    • Europe includes Germany, France, UK, Italy, Spain
    • South America includes Colombia, Argentina, Nigeria and Chile
    • Asia Pacific includes Japan, China, Korea, India, Saudi Arabia and Southeast Asia

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Tesla 2021 Impact Report – Moving Out of the Fossil Fuel Age https://aspect-sdm.org/tesla-2021-impact-report-moving-out-of-the-fossil-fuel-age/ Sat, 07 May 2022 17:36:15 +0000 https://aspect-sdm.org/tesla-2021-impact-report-moving-out-of-the-fossil-fuel-age/

You’re here published its 2021 Impact Report yesterday and shared details on the environment, supply chain and how it is leading the way out of the fossil fuel age. Last year alone, Tesla customers avoided 8.4 million metric tons of CO2e. This declaration in itself is an incredible step.

Here are some highlights from Tesla’s 2021 Impact Report.

Tesla provides thousands of jobs

Elon Musk recently tweeted that Tesla provides over 110,000 direct jobs and 500,000 indirect jobs, which I discussed in another post. However, Tesla’s impact report shares more details:

“Our number of employees has increased approximately 70 times over the past decade, and in just over ten years, Tesla has created nearly 100,000 direct jobs. While many companies in the automotive industry have reduced the number of employees and launched early retirement programs, we plan to expand our employee base in the years to come.

“As we aim to produce more than 20 times more cars by 2030 than in 2021, we will need to continue building new factories and hiring for these new locations. The Gigafactories in Texas and Berlin will be recruiting heavily from this year, which means that our job creation will continue to grow for some time.

Graphic courtesy of Tesla

Tesla received more than three million applicants worldwide last year and continues to expand access to hiring opportunities with a focus on underrepresented communities. Tesla does this by establishing community partnerships. According to the 2021 Universum ranking, Tesla and SpaceX are the best places for engineering students to work.

Tesla has several programs dedicated to hiring employees:

  • Manufacturing Development Program.
  • Learning tools and dies.
  • Introduce a girl to Engineering Day and National Manufacturing Day.
  • Tesla Internship Program.

Tesla has also invested $37.5 million in K-12 education in Nevada since 2018 as part of its deal to build Gigafactory Nevada and gain government support.

Tesla also listed its benefits, noting that it wants them to exceed industry standards. In addition to the usual medical, dental and vision services offered by many companies, Tesla offers employer-paid life insurance, short and long-term disability, counseling services, employee assistance programs , voluntary benefits programs, student loan and debt consolidation services, free shuttles, emergency childcare, and other tools and resources to support growing families.

One of the key employee benefits Tesla offers is SafetyNet, which provides limited financial assistance to employees who may become homeless, deal with an emergency or natural disaster, and even help with expenses related to sudden loss. of a family member.

Tesla’s progress on its diversity roadmap

Last year, when Tesla released its Diversity, Equity and Inclusion (DEI) Impact Report, Tesla laid out a roadmap to better represent underrepresented communities. Tesla shared that he has a lot of work to do to represent the evolution of the American population and is committed to implementing the plans he has laid out to make it happen.

Tesla is now a majority-minority company, with 62% of its workforce made up of underrepresented groups. The table below further breaks down the numbers.

Graphic courtesy of Tesla

The company said:

“We are proud to be a majority-minority company with a broad representation of employees from communities that have long struggled to overcome historic barriers to equal opportunity in the United States As of December 31, 2020, 34% of our directors and vice presidents were non-white. This is a significant percentage, given that only 0.3% of our employees are in leadership positions and above at Tesla.

“We are working to increase minority representation in the professional and management categories through our intentional recruiting efforts with historically black colleges and universities and Hispanic-serving institutions, activations at the National Society of Black Engineers, the Society of Hispanic Engineers, AfroTech, as well as community partnerships with organizations like College Track and Black Girls Code. We also strive to ensure that the diversity of our entry-level positions is reflected, over time and through internal movement, in our leadership roles.

In addition to focusing on diversifying its workforce, Tesla is also focused on hiring American veterans and providing a safe and fair workplace for anyone LGBTQ+. The latter is reflected in Tesla’s seventh consecutive 100% Corporate Equality Index with the Human Rights Campaign.

Tesla generates more energy than it consumes

Tesla announced that its solar panels generated more electricity than was consumed by its vehicles and factories between 2012 and 2021. Tesla’s cumulative net energy impact between 2012 and 2021 in terawatt hours is shown in the graph below -below.

Graphic courtesy of Tesla

Tesla uses less water per vehicle compared to most vehicle manufacturers ICE

Tesla uses less water per vehicle than nearly all gas-powered car makers and plans to beat that while factoring in in-house cell manufacturing. In its impact report, Tesla addressed the misconception that producing electric vehicles requires more water than producing a gasoline-powered vehicle.

“There is a misconception that producing an electric vehicle requires more water than producing an ICE vehicle. Our data shows that this is not the case. Slightly differently (based on its degree of vertical integration), according to the latest publicly available figures, Tesla took less water from dedicated vehicle manufacturing facilities per vehicle produced than the majority of established automakers.

“In addition, the efficient manufacturing design we are implementing at our new plants in Texas and Berlin-Brandenburg will lead to further reductions in our water consumption per vehicle. Our goal is to have low water consumption per vehicle, the best in the industry, even taking into account the manufacture of the cells. The table below includes our latest estimates of water consumption per vehicle at these facilities. »

Tesla added that the impact of power generation on water usage is less appreciated.

“Electricity generation is a leading cause of water withdrawal in the United States, as water for thermoelectric power is used to generate electricity with steam turbine generators and to cool power generation equipment. This means that each kilowatt-hour (kWh) of clean solar energy produced not only reduces GHG emissions, but also reduces water consumption.

The graph below shows a comparison between Tesla’s factories and an estimate of Giga Texas and Berlin with several automakers and the industry average. Tesla and BMW use the least water per vehicle manufactured compared to the industry average. Tesla noted that these estimates are based on factory design.

You can read Tesla’s impact report here.


 


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The Most Famous Ponzi Schemes in US History https://aspect-sdm.org/the-most-famous-ponzi-schemes-in-us-history/ Tue, 03 May 2022 23:00:11 +0000 https://aspect-sdm.org/the-most-famous-ponzi-schemes-in-us-history/
Editorial credit: Pathdoc

Ponzi schemes are a type of investment fraud that promises investors high returns with little risk

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Named after Charles Ponzi, operator of the 1920s Ponzi scheme, these scams can be very difficult to detect and often end in financial disaster for investors. In this blog post, we are going to take a look at some of the most famous Ponzi schemes in US history.

Charles Ponzi

ponzi schemes
Mugshots of Charles Ponzi

Charles Ponzi was a fraudster who became famous for his Ponzi scheme, which was a type of investment fraud. It promised investors extraordinarily high returns in a short time, then used the new investors’ money to pay the initial investors. This went on for a while until there were no more new investors and everything fell apart. It is estimated that he defrauded people out of around $20 million.

Lou Pearlman

The Most Famous Ponzi Schemes in US History 1
Credit: Everett Collection

According to reports, former Backstreet Boys and NSYNC manager Lou Pearlman is believed to have run a massive Ponzi scheme that defrauded investors of over $300 million. Pearlman also allegedly used fraudulent documents and inflated the value of his companies to attract more money from investors. For years he was able to keep the program going by using funds from new investors to pay off old ones, but eventually the program began to crumble. In 2006, federal authorities raided Pearlman’s offices in Florida, and he was subsequently arrested and sentenced to 25 years in prison.

Gerald Payne and Greater Ministries International

Gerald Payne and his department, Greater Ministries, have been accused of running a Ponzi scheme that defrauded investors of millions of dollars. The program worked by promising investors returns of up to 36% per year, but instead using money from new investors to pay older investors. The scheme eventually fell apart, leaving many investors without their money. Gerald Payne and Greater Ministries were sued for fraud and ordered to repay the stolen money. It is estimated that they robbed investors of around $150 million.

Reed Slatkin

Reed Slatkin was a co-founder of the Church of Scientology, and he committed fraud in a Ponzi scheme that defrauded investors of hundreds of millions of dollars. He started the scheme in the early 1990s and it continued until his arrest in 2001. The total amount taken from investors was around $593 million. Slatkin pleaded guilty to all charges and was sentenced to 14 years in prison.

Scott Rothstein

Scott Rothstein Ponzi
Photo credit: Instagram

Scott Rothstein ran a Ponzi scheme through his law firm, Rothstein Rosenfeldt Adler. He defrauded investors of approximately $1.2 billion. He is currently serving a 50-year prison sentence.

Rothstein’s scheme was exceptionally successful as he used the facade of a prestigious law firm to legitimize his illegal activities. Rothstein would convince investors, many of whom were close friends or family, to invest with his company by promising them shockingly high returns on their investments.

He used money from new investors to pay off old investors, giving the illusion that the company was doing extremely well.

Tom Petter

2 Most Famous Ponzi Schemes in US History
Tom Petters, CEO of Redtag Inc. in 2002

Tom Petters is a fraudster who was sentenced to 50 years in federal prison for his role in a $3.65 billion Ponzi scheme. The mastermind of one of the biggest Ponzi schemes in US history, he defrauded investors by promising astronomical returns on fictitious investments in everything from electronics to distributors of blue-box Sucrets.

The Tom Petters scheme began to unravel in September 2008 when federal agents raided the homes and offices of several of its top executives, leading to the indictment and arrest of seven company officials on various charges. fraud, including money laundering and electronic fraud.

R. Allen Stanford

R. Allen Stanford ran a Ponzi scheme that lasted over twenty years and defrauded investors of over $7 billion. He used his offshore bank, Stanford International Bank, to lure investors with promises of above-average returns on their deposits. In reality, he was using money from new depositors to pay off older ones and pocketing much of it for himself.

The scheme finally ended in 2009 when the U.S. Securities and Exchange Commission filed civil lawsuits against him for allegedly leading “massive and ongoing fraud.” He was arrested and convicted in 2012 of conspiracy, wire fraud and mail fraud. He is currently serving a 110-year prison sentence.

Bernie Madoff

3 Most Famous Ponzi Schemes in US History

Madoff’s scheme was a variation of the classic “Ponzi” scheme, in which money from new investors is used to pay false returns to previous investors.

madoff told his investors that he used their money to trade stocks and options. He promised very high rates of return, sometimes as high as 11 or 12% per year. But in reality, Madoff wasn’t investing any money at all. He was simply using new investors’ money to pay off old investors.

So how much did Madoff steal? It is now estimated that he received between $17 billion and $65 billion from his victims.

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Soaring Mortgage Rates Have Little Effect on Lincoln Housing Market | Local https://aspect-sdm.org/soaring-mortgage-rates-have-little-effect-on-lincoln-housing-market-local/ Mon, 02 May 2022 12:40:00 +0000 https://aspect-sdm.org/soaring-mortgage-rates-have-little-effect-on-lincoln-housing-market-local/

Lincoln’s white-hot real estate market has ignored every challenge that has come its way, whether it’s soaring prices or a lack of homes for sale.

Even mortgage rates that are at their highest levels in more than a decade, potentially adding hundreds of dollars to monthly payments, are having little to no effect, at least for now.

Through the end of March, sales of existing homes were up more than 10% compared to the same period in 2021.

“The March numbers are still very high for existing homes,” said Kyle Fischer, executive vice president of the Lincoln Realtors Association. “Listings are up, pending sales are up, and closed sales are up.”






Kyle Fischer


Courtesy picture


New home sales are doing even better, up more than 35% from a year ago.

This contrasts with what is happening nationally. The National Association of Realtors recently reported that existing home sales fell in March to their lowest pace in two years, while new home sales were at their lowest pace in four months.

People also read…

Lawrence Yun, the group’s economist, said he believed sales could fall 10% nationwide this year.

At least one local economist agrees that interest rates could have a chilling effect on home sales.

Lincoln Commercial Real Estate Mixed Bag in H2 2021

Nebraska bankruptcy filings fall for second straight year

“Rising interest rates will reduce housing demand in the months ahead,” Bureau of Business Research director Eric Thompson said recently.

Another potential effect of rising mortgage rates is lower house prices.

Most people buying a home need to get a mortgage, which means the decision on what they can afford is based more on the monthly payment than the actual price of a home.

When interest rates rise, they make the same house more expensive.

For example, the average rate on a 30-year mortgage at the start of the year was 3.2%. For a $200,000 loan at this rate, the monthly principal and interest payment would be approximately $865. As of last week, the 30-year average rate had risen to 5.1%, which adds about $220 a month to the payment on that same $200,000 loan.

Rich Rodenburg of Coldwell Banker NHS Real Estate said he saw some potential buyers reduce their price range due to higher rates.







Rich Rodenburg

Rodenburg


COURTESY PHOTO


But the possibility of a price drop remains theoretical at this point, at least in Lincoln.

So far this year, prices are up from last year – 11% for existing homes and nearly 20% for new homes.

Ben Barrett, branch manager of Belay Bank Mortgage, said he does not see the current trajectory, where buyers often bid well above the asking price, as sustainable.

“But there is a lot of underlying strength in the housing market that will prevent a collapse in house prices,” he said in an email.

Barrett said there are a number of factors that will keep the market from experiencing a crash similar to what happened in the mid-2000s, including buyers in better financial shape and tougher mortgage underwriting.

Freddie Mac, a quasi-government entity that buys mortgages on the secondary market, believes there will be very little change in the mortgage market for buying homes.

In a recent quarterly forecast, he predicted that mortgages for buying a home would grow from $1.9 trillion last year to $2.1 trillion this year, and to $2.2 trillion in 2023.







Ben Barrette

Barrette


But the forecasts are not good for the refinancing market.

In the same forecast, Freddie Mac predicts mortgage refinance applications will fall by two-thirds, from $2.8 trillion last year to $960 billion this year and $535 billion next year.

Most people who have purchased homes in recent years have secured low interest rates, and many existing homeowners have taken the opportunity to refinance loans at rates of 4% or less.

In fact, a recent report by online real estate website Redfin estimates that more than half of homeowners with mortgages have rates below 4%.

That means there’s very little point in refinancing mortgages with rates above 5%, Barrett said.

“It might make sense for a debt consolidation at these rates if they’re getting out of higher-rate consumer debt, or if the homeowner decides to stay in their current home for another 10 years and use a withdrawal to make a major renovation project with their social capital so strong at the moment,” he said.

Lincoln home sales continue record pace despite high prices and lack of inventory

Another large affordable housing project planned for Southwest Lincoln

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She accused her ex-husband of abuse. She’s still stuck with her student loans. –Mother Jones https://aspect-sdm.org/she-accused-her-ex-husband-of-abuse-shes-still-stuck-with-her-student-loans-mother-jones/ Sat, 30 Apr 2022 00:32:40 +0000 https://aspect-sdm.org/she-accused-her-ex-husband-of-abuse-shes-still-stuck-with-her-student-loans-mother-jones/

Illustration by Mother Jones; Getty

When Michelle and her husband divorced, a judge separated their assets. She got the televisions. He got the gas grill and freezer. Most of their debts were divided and, in many cases, divided equally between the two.

But one debt proved more difficult to separate: their student loans. When they got married, they had combined their existing college debt into what is called a spousal consolidation loan. This obscure financial product, which was first made available in 1993 by an act of Congress and pulled from the market in 2006, allowed married couples to turn their separate student loans into a single, shared liability.

“The pitch was really, you know, ‘It’ll lower your payments,'” Michelle recalled.

But spousal consolidation loans have a catch: there is no mechanism to separate loans from two borrowers, even after the breakdown of a marriage. That’s what happened to Michelle, who, according to a complaint she filed in court, had been repeatedly beaten by her then-husband. After he allegedly verbally abused her and threatened to hit her again, Michelle obtained a protective order against him and filed for divorce. In a legal filing, Michelle’s husband denied the abuse allegations.

Michelle, whose name has been changed in this article, was eventually able to get a divorce, but the loans remained consolidated and would become a tie to a relationship she had tried so hard to leave.

The number of people in situations like Michelle’s is relatively small. Mother Jones previously reported that there are only 776 borrowers with spousal consolidation loans that are still in repayment or expected to be repaid in the future – a small fraction of the 45 million borrowers with student debt. Not all of those 776 borrowers are divorced, but many report problems accessing debt relief initiatives like the federal program that forgives loans for those employed in public service-oriented jobs. For those who are divorced, however, and especially for borrowers who have been through abusive marriages, these loans can present particularly painful challenges.

“It was a very unique product that was created, and the fact that you can’t separate them – I don’t know of any other product designed in this way,” says Persis Yu, director of policy at Student Borrower Protection. Center. “They stopped making these loans in 2006, so they are really old loans at this point.”

Because the law that created spousal consolidation loans leaves both borrowers responsible for all debt even after a divorce, ex-spouses must “work together to make payments,” Yu notes. is a very big problem with these loans. These loans can actually put victims of domestic violence in a very precarious situation. »

Michelle says consolidated debt became a way for her ex-husband to continue to exercise control over his life. The divorce decree stated that Michelle would be responsible for the loans she had accumulated for her studies before the consolidation, while the ex-husband would be responsible for the loans he had accumulated. But legally, the loans remained a single debt with a single monthly bill, and making the payments became a point of contention. Since Michelle was worried about the impact of overdue debt on her credit rating and on her career, she felt compelled to keep up to date with the payments. But to do that, she needed to interact with her ex-husband.

Michelle’s ex only made part of the payments, she says Mother Jones. “I would call him and say, ‘Hey, the loan repayment is due. I have to go through and receive payment,” she said. Occasionally, her ex-husband would give her a check or money order. Other times, Michelle says, he made no payment. “Most of the time I tried to call, he didn’t answer. I was trying to text, he wasn’t responding. In a legal filing, Michelle’s attorneys alleged that the ex-husband stopped paying altogether from 2017 and in total only contributed about $1,600 to the loan after the divorce, while that Michelle had paid over $60,000. In his own filing, Michelle’s ex denied the allegations and claimed he paid his share of the debt.

Eventually, Michelle came to see the lack of cooperation as a continuation of the abuse she says she suffered during her marriage. “I realized over the past two years that this was a way for him to abuse, because he always had the cards in hand,” she says. At times, her ex-husband denied ever having student debt in the first place.

“He just said to me, ‘These are yours. He would use it to make fun of me. You know, ‘What are you going to do? What are you going to do? You’re not gonna have me running around chasing those loans anymore… What are you gonna do? They are yours.’ And that was just mean. He insulted me.

Another borrower, Catherine, said Mother Jones that its consolidated student loans also posed a significant challenge. (Catherine’s name, like Michelle’s, has been changed for this article.) Catherine ended her marriage after learning that an investigation was underway against her ex-husband for producing child pornography. He eventually pleaded guilty and is currently serving a long prison sentence.

During the marriage, Catherine says, her ex-husband controlled their finances and consolidated the couple’s student loans. He also ran up large debts for unpaid federal taxes during and after their marriage, according to tax liens reviewed by Mother Jones. When they got married, Catherine and her ex-husband had filed jointly, meaning Catherine was held jointly and severally liable for her ex-husband’s tax bills. For taxes, Catherine said she was able to get relief through the IRS Innocent Spouse Assistance Program, which eventually freed her from a significant portion of that debt. In contrast, there is no similar program for spousal consolidation loans and no method for separating debts.

Currently, Catherine says, she makes monthly student loan payments for her and her ex-husband’s. The Biden administration’s student loan payment pause did not apply to her, she says, because of the type of loan she has. Catherine repays the loans under an income-tested repayment plan, which requires her to certify her income each year. And despite her loan officer allowing her to do so without providing information about her ex, Catherine found the process traumatic.

“It’s emotionally overwhelming every time,” Catherine says. “Every year when I have to go through income-based repayment, I have to tell my story…to the loan officer because he doesn’t read the notes. And so I have to go through all the spiel that my ex has nothing to sign, I don’t have to give you my ex’s income.

“It’s just so emotional to have to go through that every year,” Catherine adds, “knowing that I’m paying this debt to the person who…hurt me.”

There is bipartisanship legislation in Congress that would allow spousal consolidation loans to be segregated based on the proportion originally owned by each borrower. A spokesperson for Sen. Mark Warner (D-Va.) said Mother Jones that he and other co-sponsors “are actively engaged in conversations with our colleagues and are hopeful that we can soon move the bill forward toward its long-awaited passage.” Catherine, who is employed in the civil service, says the measure could be life-changing as it could allow her to clear her debts under the civil service loan forgiveness scheme.

Student loans are ‘the one thing that’s gonna haunt me, it’s gonna haunt me for the rest of my life unless I can do [the] public service pardon program,” says Catherine.

Separating consolidated loans isn’t always as simple as dividing them by who originally borrowed how much, especially for people like Michelle, who says she made more payments than her ex-husband. “I have no idea how they would go about separating them,” Michelle says.

Still, Michelle says separating the loans would offer her significant relief, both because she wouldn’t have to interact with her ex-husband and because it could make it easier for the government to cancel the loans. “Every time I have to make a payment every month, it reminds me that I’ve been abused,” she says. “I fought to get out of it. And I’m still tied to that.

]]> Child tax credit: Advocates propose new way to extend monthly payments for parents https://aspect-sdm.org/child-tax-credit-advocates-propose-new-way-to-extend-monthly-payments-for-parents/ Thu, 28 Apr 2022 12:12:13 +0000 https://aspect-sdm.org/child-tax-credit-advocates-propose-new-way-to-extend-monthly-payments-for-parents/

With child tax credit payments expiring, CBPP policy analysts have suggested a new way for state governments to support families financially. (iStock)

When Congress passed the US bailout last spring, the maximum Child Tax Credit (CTC) amount was temporarily increased through the end of 2021. Parents also had the option of receiving the credit under form of monthly installments instead of a lump sum during tax season. . As a result, millions of families received up to $300 per child each month between July and December 2021.

But this legislation has not been renewed in 2022, meaning eligible households have not received CTC payments this year so far. The Center on Budget and Policy Priorities (CBPP) has previously indicated that making the expanded CLC permanent would reduce child poverty, but lawmakers have yet to pursue the expansion of the credit.

To make up for the lack of federal benefits, CBPP Policy Analysts urge state governments to create their own child tax credits. They said state-funded CTCs can effectively “target tax cuts at the people and communities who could use the aid the most”.

Keep reading to find out which states already have child tax credits in place, as well as how to manage your finances if you don’t qualify for the CTC expansion. One method is to consolidate higher interest rate debt into a fixed rate personal loan. You can learn more about debt consolidation on Credible.

STIMULUS CONTROL FOR SOCIAL SECURITY BENEFICIARIES? THE ELDERLY GROUP SAYS IT’S URGENT

When federal benefits expire, some states offer their own child tax credits

The expanded federal child tax credit — including monthly CTC payments — expired at the end of 2021. As the CBPP urges state legislatures to implement their own CTC extensions, nine states l have already done. You can see which states have child tax credits on the map below:

States That Have Child Tax Credits

HOW TO SPOT TAX FILING SCAMS

CTC eligibility requirements vary by state – for example, California Tax credit for young children is available to working families who have a child under the age of 6 and are eligible for the state Earned Income Tax Credit (EITC). Massachusetts Tax credit for household dependents is accessible to dependent elderly and disabled people, as well as to children.

Lawmakers in some other states, including Michigan and Oregon, recently introduced legislation to create a new child tax credit. Moreover, the New York State Legislature recently increased funding for the Empire State Child Tax Credit program, which was established in 2006.

Yet taxpayers in the vast majority of states do not have access to these CTC benefits.

If you’re looking for ways to reduce your expenses after federal CTC payments expire, you may want to consider credit card consolidation. Paying off revolving credit card balances with a personal loan can save some borrowers thousands of dollars in interest charges over time. You can visit Credible to compare personal loan rates for free without affecting your credit score.

YOU MAY GET A LOWER TAX REFUND IF YOU HAVE RECEIVED ADVANCED CHILD TAX CREDIT PAYMENTS

State CTCs can reduce child poverty and boost local economies

CBPP research shows that improved child tax credits can help eligible families meet basic needs like groceries, utilities and rent while lifting millions of American children out of poverty. Cash grants “like the CTC” are also associated with improved child development and school performance.

Not only can tax credits give low-income families the financial tools they need to provide for their children, but more money in parents’ pockets often translates into greater participation in local economies. and state. Additionally, CBPP policy analysts have stated that funding expenditures for CTC programs are relatively insignificant in a state’s budget.

“The costs of enacting or improving existing credits are also generally low enough that states can absorb them without generating additional revenue,” the authors wrote.

However, these tax credits only benefit households in certain areas of the United States. Families who live in states without CTC programs may need to look for other ways to cut expenses, such as consolidating debt into a fixed-rate personal loan. You can compare interest rates in the table below and visit Credible to learn more about debt consolidation.

THE 2022 TAX REPORTING SEASON HAS NEW COMPLEXITIES

Do you have a financial question, but you don’t know who to contact? Email the Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.

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Americans Are Feeling Stressed: Here’s How To Reduce Your Money Worries https://aspect-sdm.org/americans-are-feeling-stressed-heres-how-to-reduce-your-money-worries/ Tue, 26 Apr 2022 12:12:30 +0000 https://aspect-sdm.org/americans-are-feeling-stressed-heres-how-to-reduce-your-money-worries/

Ziga Plahutar / iStock.com

Money stress has reached new heights in recent months thanks to inflation, rising housing prices and rising gasoline prices.

See: 20 awesome things Mark Cuban says he does with your money
Find: How to get rich with normal work

According to the American Psychological Association, about 87% of Americans say the rising cost of everyday items like groceries and gas is a “significant source of stress.” annual survey. A CreditWise Survey also revealed that 73% of adults said finances were a major cause of stress, outranking family, work and politics.

Yet financial experts say that with the right mindset and habits in place, Americans can ease their worries about money, even in today’s tight economy. Here’s what you can do to ease the burden of rising prices.

Create a realistic budget

Having a budget may seem like a no-brainer, but you might be surprised how many people don’t use one. A survey of 1,900 Americans by The Penny Hoarder shows that more than 55% of adults don’t budget and 56% don’t know how much they spent in the previous month.

Still, experts say setting up a set monthly budget is the first step to alleviating your financial stress.

“Write down your household income exactly,” says Levon Galstyan, CPA at Oak View Legal Group. “When developing the budget, divide your income into three sections: the fixed payment, your needs and those of your family, and savings. Make sure you don’t stray from the budget, although it’s essential to give it some breathing room for a few unforeseen expenses.

Reduce expenses as much as possible

Nathan Liao, Certified Management Accountant and Founder of CMA Exam Academyrecommends scanning your budget regularly to see if there are extra expenses you can eliminate.

“Many families make the mistake of not looking at their actual expenses when setting their monthly budget,” he says. “It can really drain their budget, because they can unknowingly be paying monthly subscriptions for publications they no longer read, mobile apps they no longer use, streaming services they no longer watch, etc. It is therefore relevant to open your bank and credit card statements, check each item, identify those that are recurring expenses, then eliminate those that you no longer need.

POLL: Do you think states should suspend their gas taxes?

You can cut your expenses even further by buying store-brand versions of everyday grocery items, using discounts and coupons, and buying in bulk.

“Whenever you buy packaged food and personal care items like baby shampoo and soap, you should go for family-sized items,” Liao says. “Do it even if there are only one or two people living in your household! Family-sized items will have a lower price per unit or serving, and personal care products will last much longer. Plus, whenever you cook a family meal for yourself or someone else, you can save the leftovers for your lunch or dinner the next day, saving you even more money.

Repay debt strategically

Debt can become a big headache if not managed properly,” says Galstyan. “If you’re having trouble dealing with it, it’s time to change the way you manage your debt.”

If you find that trying to pay off several debts at once is too much for your finances, consider using the snowball strategy. This involves paying off the smallest debt first, then moving on to the next smaller one. Continue this pattern until you have eliminated every debt.

Or you can try the opposite approach: the avalanche method, which involves paying off your largest debt first and reducing gradually. Galstyan recommends adding a little extra money to your payments each month to speed up this process.

“You can try debt consolidation programs that can help you consolidate your debt into single monthly installments,” he says. “These programs will help you manage your repayments systematically and efficiently.”

Read: Here’s how much cash you need to hoard if a national emergency hits

Communicate with your partner or family about finances

Samantha Hawrylack, co-founder of the personal finance blog How to shootsays communication is key to managing money-related stress, especially if you have a partner.

“If you’re married or have a partner, it’s important to be on the same page financially,” she says. “Couples or families can ease their financial stress by communicating openly about money and working together to make wise financial decisions.”

Finding ways to reduce spending together can help ensure that the budget is a mutual agreement and can avoid misunderstandings about spending. Plus, when both parties agree on a plan, it’s easier to hold each other accountable.

“And if you’re able to stick to a financial plan,” says Hawrylack, “you’ll be in a much better position to weather whatever financial storms come your way.”

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About the Author

Jenny Rose Spaudo is a content strategist and writer specializing in personal and business finance, investing, real estate, and PropTech. His clients include Edward Jones, Flyhomes, PropStream and Real Estate Accounting Co. As a journalist, his work has appeared in Business Intern, GOBankingTariffs, Movieguide®, and various small publications. She has also written a book and hundreds of articles for CEOs and thought leaders. Before going freelance, Jenny Rose was director of online news for Charisma Media, where she oversaw three online magazines, hosted a daily news podcast and managed editorial content for the company’s robust podcast network. In 2014, she graduated summa cum laude from Stetson University with a bachelor’s degree in communication and media studies and Spanish. During her academic career, she won two awards for her research and was named “Top Senior” in both of her majors. Find it on jennyrosespaudo.com and connect with her on LinkedIn.
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