How small loans can have a huge impact

first_imgThroughout life there are situations – life events – where money plays a significant role in the decision-making process, and a positive resolution is dependent on the availability of funds. In certain cases, where the resolution requires more money than what may be available, an already stressful situation can feel frustrating and overwhelming. But what if a financial institution knew their member personally, and was willing to take a look at special situations to see if they could lend a hand (or money) to assist that member? Take a chance on a member with a long standing history and make a difference to them? This is the embodiment of the Credit Union Difference.Credit unions have long prided themselves on having personalized relationships with their members, sharing affinities based on education, occupations and the community. Recently, some credit unions have been going above and beyond in their traditional lending practices when looking to meet some of their members’ financial needs. They have started offering smaller, more express and niche-type loans, often stemming from the needs within the community it serves. These smaller loans, while not typical, are creating positive results; building both loan portfolios and member appreciation and loyalty.A recent article from outlined some of the more unique lending strategies being offered to members at a growing list of credit unions. Lending strategies were implemented after a need was identified within their community and member base. Loans were granted for life events such as adoption, the path to citizenship, environmental initiatives, and to help meet the needs of a union worker just joining and learning their trade. Some CUs have even begun to offer an alternative for those dreaded payday loans, where the borrower usually has no viable alternatives and is stuck paying a huge amount of interest and fees. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Beat writers unanimous in prediction of Syracuse’s game at Miami

first_imgAfter losing at home to North Carolina State, Syracuse (17-9, 6-7 Atlantic Coast) to take on a Miami (18-7, 7-6) with plenty of offensive weapons. The Hurricanes hosted No. 1 Virginia on Tuesday and lost, 59-50. But with just five games remaining in both teams’ ACC schedules and within one win of each other in-conference, the Orange and Miami have plenty to play for when Saturday’s game tips off at noon.See how our beat writers think the matchup will play out.Matthew Gutierrez (22-4)Hurricane Season in FebruaryMiami 70, Syracuse 55As Sam soaks up the South Florida sun, there’s a decent chance Syracuse loses each of its last five games. Several signs point to that beginning at Miami this weekend. With its frontcourt now in a flux, Syracuse’s identity has not differed much from three main scorers and a strong defense that struggles at times defending the outside. The latter was evident early in the year, even against Colgate. Stopping the 3-point shot is a glaring weakness for SU and, when combined with an injury-depleted frontcourt, it becomes difficult to suspect SU will come out with a win against a good Miami team on the road.Sam Fortier (19-7)A Bay BayMiami 68, Syracuse 61AdvertisementThis is placeholder textThe Hurricanes and Orange are about even in terms of defense, but Miami can really shoot the ball and that, at home, gives them enough of an advantage to pick them comfortably in this game. Led by 5-foot-7 freshman point guard Chris Lykes, the Hurricanes have 67 or more points in all but three conference games. UM surrounds Lykes with four capable scoring options and some nice complementary length. The one thing about UM: They are one of the worst free-throw shooting teams in the nation, hitting 66.4 percent from the stripe. If the Orange can make it a contest there down the stretch, there’s a chance for SU. But even still, Miami might have too much offense.Tomer Langer (18-8)U are doneMiami 65, Syracuse 59Syracuse’s loss to N.C. State on Wednesday night stings, particularly because SU played fairly well. Now, it’s put a damper on the hope this team showed one week earlier. The narrative throughout the ACC this year has been about how difficult it is to win on the road in conference. And even in last year’s disappointing campaign, Syracuse only lost one ACC home game. But the loss to the Wolfpack was SU’s third ACC loss in the Carrier Dome this year. One came against a powerhouse in Virginia, but then there’s this most recent one to the Wolfpack and a still-inexplicable loss to a Notre Dame team missing its two best players. Now, the Orange has to play UM. The only teams to beat the Hurricanes in Miami are Virginia and then-No. 5 Duke. SU isn’t in the same class as those teams, so give me Miami in this one. Comments Facebook Twitter Google+ Published on February 16, 2018 at 5:14 pmlast_img read more

Four Million Homes Return to Positive Equity in 2013

first_img in Daily Dose, Data, Featured, Headlines, News Share Nearly four million homes last year returned to a position of positive equity, leaving about 6.5 million upside-down, CoreLogic reported Thursday.As of the end of 2013, CoreLogic estimates the number of mortgaged residential properties with equity totaled about 42.7 million, representing a share of about 86.7 percent. Due to a slowdown in the quarterly growth rate of the company’s Home Price Index, the share of homes with equity versus underwater homes was mostly unchanged from Q3 to Q4.“The rebound in home prices in 2013 helped 4 million property owners regain at least some positive equity in their largest asset—their home,” said Anand Nallathambi, president and CEO of CoreLogic. “We still have a long way to go to eliminate the negative equity overhang but significant progress is being made every day across most of the country.”Of those properties with positive status, just under a quarter—10 million—are considered “under-equitied,” meaning they have less than 20 percent equity; more than 1.6 million have less than 5 percent equity.Not only does this circumstance leave borrowers at risk of going back under should prices dip, but it also means they may have a more difficult time obtaining new financing for their homes due to underwriting constraints, CoreLogic says.As might be expected given their massive declines during the crash, Nevada, Florida, and Arizona topped the list of states with high negative equity rates, clocking in at 30.4 percent, 28.1 percent, and 21.5 percent, respectively. Following that were Ohio (19.0 percent) and Illinois (18.7 percent). Together, the five states accounted for 36.9 percent of negative equity in the fourth quarter.An examination of the top Core Based Statistical Areas (CBSAs) looked very much the same, with the Orlando-Kissimmee-Sanford area leading at 31.5 percent, followed by Tampa-St. Petersburg-Clearwater (30.4 percent).Also making the list were Phoenix-Mesa-Scottsdale (22.1 percent), Chicago-Naperville-Arlington Heights (21.4 percent), and Atlanta-Sandy Springs-Roswell (19.9 percent).The national aggregate value of negative equity for underwater homes last quarter was $398.4 billion, down from $401.3 billion the prior period. Four Million Homes Return to Positive Equity in 2013center_img CoreLogic Home Equity Home Prices Underwater 2014-03-06 Tory Barringer March 6, 2014 477 Views last_img read more