Loan system – Alba Ruthenicae http://albaruthenicae.info/ Sun, 26 Sep 2021 01:05:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://albaruthenicae.info/wp-content/uploads/2021/07/icon-2021-07-06T145847.214-150x150.png Loan system – Alba Ruthenicae http://albaruthenicae.info/ 32 32 UWM announces Bolt subscription system for brokers http://albaruthenicae.info/uwm-announces-bolt-subscription-system-for-brokers/ http://albaruthenicae.info/uwm-announces-bolt-subscription-system-for-brokers/#respond Sat, 25 Sep 2021 22:41:21 +0000 http://albaruthenicae.info/uwm-announces-bolt-subscription-system-for-brokers/ United Wholesale Mortgages announced several new initiatives at the AIME Fuse conference on Saturday. In a keynote on the future of mortgages, UWM CEO Mat Ishbia introduced Bolt, an underwriting system he said would allow brokers to take out a loan in 15 minutes or less, which will go live on Monday, September 27. Available […]]]>

United Wholesale Mortgages announced several new initiatives at the AIME Fuse conference on Saturday. In a keynote on the future of mortgages, UWM CEO Mat Ishbia introduced Bolt, an underwriting system he said would allow brokers to take out a loan in 15 minutes or less, which will go live on Monday, September 27.

Available first for conventional loans, Bolt will sort the data of a loan file, validate the information, provide income verification, separate necessary documents and print an initial approval in 15 minutes or less, Ishbia said.

“Each day that a loan remains in place, the likelihood of it closing decreases,” Ishbia said. “Time kills business; Bolt records offers. It’s the future.

Ishbia also touted UWM’s Appraisal Direct program, which will bring the appraisal process in-house on October 1, allowing UWM to directly contract with appraisers and providing appraisers and brokers with a way around companies from evaluation management.

“Reviews slow down the business, the industry and cost consumers a lot of money. Nobody is happy with what is going on, ”Ishbia said.

Ishbia said Appraisal Direct will allow UWM to assign an assessment within hours. Appraisers will choose to work with UWM because the company will pass on the full appraisal fee paid by the borrower and pay appraisers on the business day following a successful appraisal, Ishbia said.

“The best assessors in the country will want to work with us. Reviewers don’t respond to an AMC, but if you don’t respond to us, we give out 70,000 loans per month, ”Ishbia said.

Ishbia said the decision to implement Appraisal Direct was not about AMCs, but it would force AMCs to do better. “If you charge a fee when I’m not going to charge a fee, then you better be really good.”

Speaking of suppliers, Ishbia also singled out the securities companies as being ripe for disruption. “If you don’t add value to what you bring, you won’t stay long,” he said.

Ishbia cautioned brokers to figure out their cost of creating a loan now, when rates were low and they were making money. ” The world changes ; the original cost is everything, ”Ishbia said.

Throughout his speech, Ishbia said his goal is to see brokers’ market share grow from one in five loans to one in three or more.

“I am more focused than ever. I’m probably hated more than ever, too, which I enjoy, so it’s okay… I bet on you and double down on brokers.


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6 home improvements that could lower home insurance costs http://albaruthenicae.info/6-home-improvements-that-could-lower-home-insurance-costs/ http://albaruthenicae.info/6-home-improvements-that-could-lower-home-insurance-costs/#respond Sat, 25 Sep 2021 14:00:27 +0000 http://albaruthenicae.info/6-home-improvements-that-could-lower-home-insurance-costs/ Renovating or improving a home can be expensive, and homeowners should consider the return on investment they will get (especially if they finance renovations with a loan). To determine if an upgrade is likely to pay off in the long term, it should also be considered whether the changes to the property could affect home […]]]>

Renovating or improving a home can be expensive, and homeowners should consider the return on investment they will get (especially if they finance renovations with a loan). To determine if an upgrade is likely to pay off in the long term, it should also be considered whether the changes to the property could affect home insurance premiums.

You see, the price of home insurance is based on the risk of a claim. And some home renovations can reduce the likelihood of this happening, which could lead to lower insurance costs.

Here are six improvements that could potentially make home insurance less expensive, as well as improve a property’s value and livability.

1. Install a home security system

Home insurance policies generally cover theft as well as damage caused by vandalism. A home security system reduces the chances of either type of damage happening. Many systems also include other types of monitoring, such as fire detection, and the alarm company can take quick action to alert the proper authorities if there is a problem.

Because a security system can protect against many common losses that lead to insurance claims, adding one can result in a significant drop in home insurance costs.

2. Upgrade windows

Storm or impact resistant windows reduce the likelihood of damage from wind and hail, which are two of the main reasons for homeowners’ insurance claims. Adding roll-down storm shutters also reduces the risk of damage. This type of upgrade will have the biggest impact on premiums for homeowners who live in areas regularly hit by hurricanes or windstorms.

3. Addition of an emergency water shut-off device

While home insurance policies do not cover flooding caused by weather events, they do pay for damage resulting from water leaks in the home. Some examples of this are a leaking refrigerator line or damaged pipes.

Homeowners can install devices that detect water leaks and shut off the water supply, limiting damage. Since these devices reduce the likelihood of serious water damage if something goes wrong, it can lead to a significant reduction in insurance premiums.

4. Installation of a new roof

A new roof could lower a homeowner’s costs for several reasons, depending on the situation.

If the property had an older roof that was replaced with a newer one, the policyholder might qualify for a discount on the age of the roof. For example, impact resistant roofing materials help protect against hail and lightning, which could lower the cost of the home insurance policy.

5. Modernization of doors

Hurricane-resistant exterior doors and garage doors can have a similar effect in reducing damage claims such as a new roof or impact-resistant windows. While these upgrades can be expensive, they can reduce premiums paid over time by making damage to a home less likely to occur.

6. Improve other home systems

For owners of older homes, updating the electrical and heating system can reduce the risk of fire or flooding. This, in turn, can lead to a reduction in home insurance premiums. It can also reduce energy costs, which can pay off for homeowners in two ways. That said, like other enhancements, updating these systems can be expensive.

For a homeowner who wants to make their home a better place to live, these six upgrades could potentially accomplish that task while making the property safer and lowering insurance premiums in the long run.


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Lawyers and Experts Recommend Reforms to Kansas’ Inadequate Payday Loan System http://albaruthenicae.info/lawyers-and-experts-recommend-reforms-to-kansas-inadequate-payday-loan-system/ http://albaruthenicae.info/lawyers-and-experts-recommend-reforms-to-kansas-inadequate-payday-loan-system/#respond Fri, 24 Sep 2021 22:32:29 +0000 http://albaruthenicae.info/lawyers-and-experts-recommend-reforms-to-kansas-inadequate-payday-loan-system/ TOPEKA – A consumer finance expert recommends that Kansas reform payday loans that could save consumers more than $ 25 million a year while still maintaining access to credit. These loans have come under criticism in states across the country, with some going so far as to ban them. The data suggests that while the […]]]>

TOPEKA – A consumer finance expert recommends that Kansas reform payday loans that could save consumers more than $ 25 million a year while still maintaining access to credit.

These loans have come under criticism in states across the country, with some going so far as to ban them. The data suggests that while the majority of those accessing these loans are white, African Americans are disproportionately affected.

TiJuana Hardwell, a community organizer in Wichita, shared her personal experience of the predatory nature of the current loan structure with the Kansas Commission on Racial Equity and Justice economic subcommittee on Thursday. She recalled that her mother found herself caught in a cycle of loans and repayments to support Hardwell and his six siblings after a divorce.

Every payday, after cashing her work check, her mother drove to pay off the loan, then immediately took out another loan to make sure they had enough money to live on. Sometimes she even took out loans from two lenders at the same time.

“When we talk about a system, it has to be dismantled,” Hardwell said. “It’s something that I willingly rally people around. I want to educate them. I also want to make sure that these companies are accountable for how they offer these loans.”

A Kansas payday loan of $ 300 will often result in around $ 450 in fees for a total of $ 750, according to Pew Charitable Trusts. Long term loans have become increasingly popular in Kansas, but there is no limit to what lenders can charge.

Gabe Kravitz, consumer finance expert for Pew Charitable Trusts, said lines of credit for small amounts can be beneficial if properly structured, but in Kansas conventional payday loans do more harm than good. . He said the two-week loans offered by many lenders typically take a third of the borrower’s next paycheck and leave them in debt for an average of five months.

“Payday loan venues in Kansas are now about three times higher than in states that have updated their laws and heavily protected consumers,” Kravitz said. “They did this by demanding affordable installment loan structures, driving down prices and ensuring there were no unintended uses of state law or loopholes in the law. . “

Kravitz recommended that Kansas go down the Colorado path. There, lawmakers and stakeholders reached common ground by effectively banning the two-week payment and replacing it with a six-month installment loan with affordable payments.

Colorado has seen loan costs drop 42%. Ohio and Virginia have since followed a similar path, and repayment costs have fallen to 4% of the lender’s next paycheck.

John Nave, executive vice president of the AFL-CIO of Kansas, said his organization has taken an interest in the issue because it affects union members as well.

“Even though a lot of them make a good living, they can also have financial problems in this area of ​​payday loans,” said Nave. “We have to push this really hard this next session.”


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Students thrilled by Parliament’s demands to abolish loan system http://albaruthenicae.info/students-thrilled-by-parliaments-demands-to-abolish-loan-system/ http://albaruthenicae.info/students-thrilled-by-parliaments-demands-to-abolish-loan-system/#respond Fri, 24 Sep 2021 09:40:00 +0000 http://albaruthenicae.info/students-thrilled-by-parliaments-demands-to-abolish-loan-system/ The motions adopted during the budget debate concerning the abolition of the student loan system and the reintroduction of the basic scholarship were greeted with enthusiasm by the Interstedelijk Studenten Overleg (ISO). “It is excellent news that a large majority in parliament has definitely voted against the loan system. Thanks to these motions, a next […]]]>

The motions adopted during the budget debate concerning the abolition of the student loan system and the reintroduction of the basic scholarship were greeted with enthusiasm by the Interstedelijk Studenten Overleg (ISO). “It is excellent news that a large majority in parliament has definitely voted against the loan system. Thanks to these motions, a next government simply can no longer avoid the introduction of a new scholarship system: it is the final blow to the loan system. ISO President Lisanne de Roos said. The motions are “a cause for great celebration for students in the Netherlands”, according to De Roos.

The National Union of Students (LSVb) spoke of an important step towards greater equality of opportunity in education. President Ama Boahene: “The student loan system dramatically increases inequalities among students. It is very good news that a large majority of parliament is now speaking out against this system.

The student union said this was just the start. Boahene: “No concrete action has yet resulted from the adopted motions. It is now important to develop an alternative to the loan system in collaboration with student organizations. And compensation must be made for the generation of the loan system.

ISO pointed out that since the introduction of the loan system in 2015, various issues have arisen, such as unequal opportunities, pressure to perform and psychological complaints among students. According to the student organization, students also make other choices to keep their debt as low as possible. “With the reintroduction of a basic scholarship, students will once again have the flexibility they need to develop fully during and after their studies. The new cabinet will have to respond to Parliament’s unequivocal call to provide financial relief to students. “

ISO has said it would like to discuss with parties in the cabinet training process what the new student scholarship system should look like. Previously, he proposed a new system called Students On Their Own Feet. In addition to a basic scholarship, this includes an additional scholarship and “fair compensation for the generation of students who have studied under the student loan system”. De Roos: “Or the plan is on a silver platter.”


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Mark Cuban Explains Why Crypto-Based DeFi Will Disrupt Banks http://albaruthenicae.info/mark-cuban-explains-why-crypto-based-defi-will-disrupt-banks/ http://albaruthenicae.info/mark-cuban-explains-why-crypto-based-defi-will-disrupt-banks/#respond Thu, 23 Sep 2021 18:00:10 +0000 http://albaruthenicae.info/mark-cuban-explains-why-crypto-based-defi-will-disrupt-banks/ Billionaire investor Mark Cuban is optimistic about the growth of DeFi applications, or decentralized finance, and believes they will be a challenge for traditional banks. For him, “the fundamental advantage of DeFi is that it simplifies borrowing for personal purposes”, Cuban tweeted Thursday in response to a debate on DeFi. “It’s complicated to borrow money […]]]>

Billionaire investor Mark Cuban is optimistic about the growth of DeFi applications, or decentralized finance, and believes they will be a challenge for traditional banks.

For him, “the fundamental advantage of DeFi is that it simplifies borrowing for personal purposes”, Cuban tweeted Thursday in response to a debate on DeFi.

“It’s complicated to borrow money from a bank,” he said. “And [DeFi] allows anyone with funds to also be a lender. “

DeFi apps aim to recreate traditional financial systems, such as banks and stock exchanges, with cryptocurrency. Most run on the Ethereum blockchain.

As Cuban mentions, through DeFi Loan, users can lend cryptocurrency, like a traditional bank does with fiat money, and earn interest as a lender. The barrier to entry for borrowing is low compared to that of a traditional system. In most cases, the only requirement for taking out a DeFi loan is the ability to provide collateral with other crypto assets.

“[B]Businesses, decentralized or not, tend to benefit when they offer customers the path of least resistance to get what they want and / or need, ”Cuban said. “DeFi is not monolithic. It’s competitive. It will evolve to meet customer needs. “

Cuban admits DeFi won’t “automatically end banking” because “banks aren’t dumb,” but predicts DeFi apps will always disrupt the traditional space. “As [how] fintech has selected features that have opened the door to applications that have attracted millions of customers, I think DeFi will evolve in the same way, ”he said.

“Some industries are against change. That’s the innovator’s dilemma. Banks could have simplified / automated to the point that DeFi wasn’t needed. They didn’t. They’re so stuck in it. heritage [operations] they are disturbed by simple fintech, ”continued Cuban.

However, DeFi is much riskier than a traditional bank for a number of reasons.

On the one hand, there is no regulation or insurance on your money when using DeFi, and due to the volatile nature of cryptocurrency, investors should be comfortable with large fluctuations. of price. In the event of a downturn, the value of crypto assets used as collateral can drop sharply and some investors may have their positions liquidated. That’s why experts warn investors to only spend what they can afford to lose.

Even Cuban admits that “DeFi is a platform that can be ripped off.”

Going forward, Cuban predicts that the “big players” in DeFi “will be in favor of regulation” because it “will allow the industry to grow and still have a Wild West aspect,” he said. .

Cuban has long been a supporter of DeFi and the crypto space as a whole. It has a large crypto portfolio with investments in bitcoin, ether, dogecoin, and other altcoins, as well as NFTs or non-fungible tokens, and plenty of blockchain companies.

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Don’t miss: Mark Cuban Says Crypto Regulation “Built Around Existing Fraud Laws” Would Not Necessarily Be a Bad Thing

Disclosure: CNBC owns the exclusive rights to the off-grid cable of “Shark Tank”.



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RBNZ tightens restrictions on loan-to-value ratio http://albaruthenicae.info/rbnz-tightens-restrictions-on-loan-to-value-ratio/ http://albaruthenicae.info/rbnz-tightens-restrictions-on-loan-to-value-ratio/#respond Thu, 23 Sep 2021 01:40:58 +0000 http://albaruthenicae.info/rbnz-tightens-restrictions-on-loan-to-value-ratio/ The LVR restrictions are intended to mitigate the economic and financial stability risks associated with a potential future correction in the housing market. The Reserve Bank of New Zealand (RBNZ) has announced that it will implement its proposal to tighten loan-to-value ratio (LVR) restrictions on homeowner loans to reduce risky mortgages. From November 1, 2021, […]]]>

The LVR restrictions are intended to mitigate the economic and financial stability risks associated with a potential future correction in the housing market.

The Reserve Bank of New Zealand (RBNZ) has announced that it will implement its proposal to tighten loan-to-value ratio (LVR) restrictions on homeowner loans to reduce risky mortgages.

From November 1, 2021, the RBNZ will limit the amount banks can lend above an LVR from 80% to 10% of all new homeowner loans, up from 20% currently.

The RBNZ launched a consultation paper proposing the change earlier this month, after observing that despite previous adjustments to LVR restrictions, house prices remained unsustainable and the risks of a housing market correction continued to rise. ” increase, increasing the risks to economic and financial stability.

“While the financial system remains strong and banks are well capitalized, we are concerned about the potential future risks to financial stability of allowing this higher risk borrowing to continue at its current rate,” RBNZ said. in a regulatory impact statement, published here.

Submissions to the industry representative consultation were broadly in favor of tightening LVR restrictions, with respondents recognizing the need to control house price inflation and mitigate potential risks to financial stability, RBNZ said. .

However, comments from members of the public were mixed, with some submissions questioning the need for additional restrictions or arguing for other policies to protect the financial system.

A summary of the submissions is published here.

The consultation had proposed to implement the new LVR parameters from October 1, but the RBNZ decided to postpone the implementation to November 1 in light of the Covid-19-related disruptions, which delayed the completion of the housing purchases already approved by banks.

The policy change will take effect by modifying the Bank Registration Conditions (CoR).





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first-time home-buying program helps 11 families | Business http://albaruthenicae.info/first-time-home-buying-program-helps-11-families-business/ http://albaruthenicae.info/first-time-home-buying-program-helps-11-families-business/#respond Wed, 22 Sep 2021 16:41:57 +0000 http://albaruthenicae.info/first-time-home-buying-program-helps-11-families-business/ HATTIESBURG, Mississippi – (BUSINESS WIRE) – Sep 22, 2021– Eleven residents of Florida and Louisiana recently purchased a first home through Habitat for Humanity (Habitat) thanks in part to a grant from Homebuyer Equity Leverage Partnership (HELP) from The First, A National Banking Association ( The First) based in Hattiesburg, Mississippi, and the Federal Home […]]]>

HATTIESBURG, Mississippi – (BUSINESS WIRE) – Sep 22, 2021–

Eleven residents of Florida and Louisiana recently purchased a first home through Habitat for Humanity (Habitat) thanks in part to a grant from Homebuyer Equity Leverage Partnership (HELP) from The First, A National Banking Association ( The First) based in Hattiesburg, Mississippi, and the Federal Home Loan Bank of Dallas (FHLB Dallas).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005864/en/

A Louisiana mother, seen here with her son, received a leveraged homebuyers partnership grant from The First and the Federal Home Loan Bank of Dallas which helped with the down payment initial. (Photo: Business Wire)

Seven residents were from Florida, including four from Pensacola and three from Tallahassee. The other homebuyers assisted by Habitat were from the Louisiana towns of Abita Springs, Covington, Mandeville and Slidell. Each received a HELP grant of $ 5,500 and used the funds for down payments.

HELP, provided by FHLB Dallas through member institutions such as The First, assists first-time homebuyers with qualifying income with down payment assistance and closing costs.

All of the owners have worked with their local Habitat affiliates, which support affordable homeownership through educational and volunteer resources for low-income families.

In total, The First and FHLB Dallas partnership provided $ 60,500 to these 11 homeowners through Habitat.

One of the homebuyers, Bambi Spinks, mother of two from Abita Springs, said she was living in a mobile home when she applied for the grant. She never thought she could afford to buy a house.

“It feels good to know that my children and I live in a healthy environment,” she said.

Crystal Scott, director of resource development at Pensacola Habitat, which has helped owners of Pensacola, said the HELP grant is creating a huge impact for its owners.

“The program helps our community in so many different ways,” said Ms. Scott. “Some people have reached a point where they are ready to own a home, but don’t necessarily have the right tools, education, down payment or good credit to make their dream come true.

Michele Lynch, assistant vice president, community development officer at The First, which has provided $ 117,000 in HELP grants so far this year, said she appreciates the program because it helps long-time tenants become owners.

“The First has been able to help many first-time homebuyers throughout our partnership with FHLB Dallas through HELP,” said Ms. Lynch. “The First has leveraged several FHLB Dallas programs in the past to help our communities. Our partnership is twofold, as we are able to invest in our community while making homeownership accessible to the many clients we serve.

Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas, emphasizes the importance of this financial assistance.

“Buying a home is such an important achievement for many,” said Hettrick. “We are honored to work with The First to open new doors for these new owners. “

Ms. Scott added that helping tenants become home buyers is life changing.

“Handing over the keys after closing and knowing the impact it will have on their lives is amazing,” she said. “HELP has been of benefit to so many people in our community. “

About The First Bancshares Inc.

The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First, a national banking association. Founded in 1996 near Hattiesburg, Mississippi. The First has grown rapidly in southern Mississippi, southern Alabama, Louisiana, Florida and Georgia, offering competitive services compared to those found in large regional banks. The company’s shares are listed on the Nasdaq Global Market under the symbol FBMS. The information is available on the company’s website www.TheFirstBank.com.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system established by Congress in 1932. FHLB Dallas, with total assets of $ 58.6 billion as of June 30, 2021, is a co-operative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210922005864/en/

CONTACT: Corporate communication

Federal Home Loan Bank of Dallas

fhlb.com

(214) 441-8445

KEYWORD: LOUISIANE MISSISSIPPI FLORIDE TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: MEN BANK PROFESSIONAL SERVICES FAMILY PHILANTHROPIA CONSUMER RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE WOMEN SENIORS FINANCE OTHER PHILANTHROPY

SOURCE: Federal Home Loan Bank of Dallas

Copyright Business Wire 2021.

PUB: 22/09/2021 12:40 / DISC: 22/09/2021 12:42

http://www.businesswire.com/news/home/20210922005864/en


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Does Home Insurance Cover Mold? http://albaruthenicae.info/does-home-insurance-cover-mold/ http://albaruthenicae.info/does-home-insurance-cover-mold/#respond Tue, 21 Sep 2021 23:01:00 +0000 http://albaruthenicae.info/does-home-insurance-cover-mold/ How to spot mold in your home Homeowners can spot mold in their home by smelling, seeing, or getting sick from the mold. The faster you catch mold, the less damage there will be from the spread of mold. The more mold has spread, the more expensive it will be to repair the damage. Places […]]]>

How to spot mold in your home

Homeowners can spot mold in their home by smelling, seeing, or getting sick from the mold. The faster you catch mold, the less damage there will be from the spread of mold. The more mold has spread, the more expensive it will be to repair the damage.

Places where mold can grow include:

  • Behind the walls
  • Under the carpets
  • Behind your fridge
  • Between the bathroom tiles
  • Wet areas such as the kitchen or bathroom
  • Poorly ventilated or poorly lit areas

Mold can have a soft, fuzzy texture, and if the pattern is more even, it could be what’s called a mold colony. It also has a musty smell like rotten leaves in fall, and the stronger the smell, the more mold is likely to be in that area.

It could also be a situation where the mold smell occurs when you turn on the air conditioning or heating in your home, which probably means that the mold is in your air conditioning or heating system.

Sometimes when you can’t see mold, but can smell it, it can be in an inconspicuous place like under the carpet, behind an appliance, or inside the wall. If you can’t spot mold but can smell it, you can also call a mold inspection team to help locate it.

Illness from exposure to mold is another unfortunate way homeowners find out they have mold. Some physical symptoms to watch out for include:

  • Sore eyes or throat
  • Cough or sneeze
  • Runny or congested nose
  • Itchy skin or asthma

These symptoms are not necessarily due to mold as they are characteristic of many diseases ranging from allergies to viral infection. However, if you find that your symptoms get worse as you spend time at home, there could be a link between your illness and mold growth in your home.


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GA Farm Equipment CEO Sentenced to Jail and Ordered to Pay $ 6.3 Million in Restitution http://albaruthenicae.info/ga-farm-equipment-ceo-sentenced-to-jail-and-ordered-to-pay-6-3-million-in-restitution/ http://albaruthenicae.info/ga-farm-equipment-ceo-sentenced-to-jail-and-ordered-to-pay-6-3-million-in-restitution/#respond Tue, 21 Sep 2021 10:03:01 +0000 http://albaruthenicae.info/ga-farm-equipment-ceo-sentenced-to-jail-and-ordered-to-pay-6-3-million-in-restitution/ Southwest Georgia businessman and tractor supply company owner who pleaded guilty to orchestrating a complex fraud involving millions of dollars in loans from multiple creditors has been sentenced prison and compensate his victims for his crime. Rickey Carter, 60, of Nashville, Ga., Was sentenced to 63 months in prison followed by five years of supervised […]]]>

Southwest Georgia businessman and tractor supply company owner who pleaded guilty to orchestrating a complex fraud involving millions of dollars in loans from multiple creditors has been sentenced prison and compensate his victims for his crime.

Rickey Carter, 60, of Nashville, Ga., Was sentenced to 63 months in prison followed by five years of supervised release by U.S. District Judge Hugh Lawson on Wednesday, September 15, after pleading guilty to bank fraud. The court also ordered Carter to pay more than $ 6.3 million in restitution to banks and creditors who were defrauded, as well as to the US Small Business Administration. There is no parole in the federal system.

“Hitting banks by lying to get millions of dollars in loans undermines the integrity of the banking system and puts businesses – and the people they employ – at risk,” Acting US Attorney Peter D. Leary. “Our office and law enforcement will work to hold fraudsters accountable and protect citizens from fraud.”

“This conviction recognizes the importance of holding the accused accountable for orchestrating a fraudulent scheme to obtain millions of dollars in loans from these banks,” said the special agent in charge, Kyle A. Myles of the Office of the United Nations. Inspector General of the Federal Deposit Insurance Corporation (FDIC -BIG). “The FDIC-OIG remains committed to working with our law enforcement partners to investigate financial crimes that threaten the integrity of the banking industry.”

“No matter how elaborate or complicated the fraud scheme is, the FBI and our federal partners will find out and unravel it to protect American citizens and businesses from further harm and strive to recoup their losses,” Chris said. Hacker, special agent in charge of FBI Atlanta. . “Carter will be held responsible for the damage he caused, sending a message that fraud is a serious crime with serious consequences.”

Carter was president and CEO of Nashville Tractor (NTI), a company that sold and leased farm and construction equipment, attachments and parts. In 2016, he obtained a US Small Business Administration (SBA) loan from Farmers and Merchants Bank (FMB) for a principal amount of $ 5,000,000. At the same time, NTI obtains a new line of credit and signs a credit agreement with BKW in the amount of $ 625,000.

In 2010, Carter had entered into an ongoing wholesale and safety finance agreement with CNH Industrial Capital America, LLC (CNH) to fund NTI’s inventory purchases for retail or rental. It also entered into a Retail Finance Agreement (RFA) with CNH under which CNH would purchase NTI’s stake in retail contracts for the purchase of agricultural and construction equipment with retail customers. The CNH deal was a primary source of agricultural and construction equipment inventory for NTI.

Carter was able to continue NTI’s operations and other loan agreements were made with a number of other banks and funding entities. In each case of a loan with the banks, Carter was required to provide true and complete financial information to the banks and was required to provide ongoing information for line of credit drawdowns. However, in 2015, NTI started having financial and cash flow issues, which made it difficult to pay off loans and payroll. During this time, Carter began to sell equipment she held in trust, but without paying cash to CNH and other creditors as required. Carter sold at least 88 pieces of equipment valued at over $ 1.5 million subject to CNH collateral and sold other pieces of equipment securing funding from Kubota Credit Corporation, Ameris Bank, Bank of Alapaha and Diversified Financial Services. As part of the fraud scheme, Carter falsified NTI’s financial records in order to inflate the company’s net worth. As part of the falsification of records, Carter sometimes instructed NTI employees to generate payment checks on accounts payable but not send the checks, thereby reducing accounts payable but not deducting checks from NTI accounts. In 2016, Carter falsified documents provided to FMB to secure the SBA loan and line of credit.

Carter also created fraudulent retail installment contracts for the sale or lease of numerous equipment with CNH using the names of real people whose information was available to Carter. These fraudulent contracts generated more than $ 1.2 million in payments to NTI.

Carter continued throughout the SBA loan period to provide false and fraudulent information. In total, Carter admitted to being responsible for an expected fraud loss totaling more than $ 3.5 million but not more than $ 9.5 million. Carter is responsible for restoring actual monetary losses caused by the fraud to FMB ($ 1,227,319.66), SBA ($ 1,500,000), Ameris Bank ($ 321,934.50), Bank of Alapaha ($ 150,000 ), CNH ($ 2,782,959.99), KCC ($ 185,993.32) and Diversified Financial Services ($ 228,399.92).

The matter was investigated by the FBI and FDIC-OIG.


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Jurors hear audio at murder trial – Daily Freeman http://albaruthenicae.info/jurors-hear-audio-at-murder-trial-daily-freeman/ http://albaruthenicae.info/jurors-hear-audio-at-murder-trial-daily-freeman/#respond Mon, 20 Sep 2021 23:07:51 +0000 http://albaruthenicae.info/jurors-hear-audio-at-murder-trial-daily-freeman/ KINGSTON, NY – Jurors in Corey Smith’s murder trial heard an audio recording on Monday that prosecutors said captured the sounds of gunfire and a woman shouted “Corey, no! Corey, no! as Ashley Dixon was shot in the Stuyvesant Charter apartments last year. To a Freeman reporter, court officers and family members watching the proceedings […]]]>

KINGSTON, NY – Jurors in Corey Smith’s murder trial heard an audio recording on Monday that prosecutors said captured the sounds of gunfire and a woman shouted “Corey, no! Corey, no! as Ashley Dixon was shot in the Stuyvesant Charter apartments last year.

To a Freeman reporter, court officers and family members watching the proceedings on closed-circuit television in another part of the courthouse, the sound was largely unintelligible, with listeners only being able to hear this. which sounded like a loud bang and a lot of muffled sounds.

But in his opening statement to jurors on Thursday, Senior Assistant Prosecutor Gerard Van Loan told jurors they would hear three shots on the tape and hear Dixon’s girlfriend Janai Lawrence screaming ” Corey, no! As Smith, 36, fired his .40 caliber semi-automatic handgun at Dixon’s, hitting him in the neck, chest and arm.

On Monday, Senior Deputy District Attorney Gerard Van Loan said it was not clear whether Lawrence, who prosecutors said was an eyewitness to the shooting, would take the witness stand.

Lawrence was among those on the witness list and in his opening statements to the jury, Van Loan told jurors that Lawrence would testify that she drove Smith to the Stuyvesant Charter Apartments to meet Dixon, 31, and watched a few yards only Smith shot Dixon. Jurors were shown photos of what prosecutors said was Lawrence’s Mercedes Benz in the apartment complex on Thursday.

However, she has yet to appear on the witness stand and, following a conference with the judge on Monday, court proceedings were adjourned until 1 p.m. on Tuesday, with the judge telling jurors that “the matter is still in the hands of the people “but following” legal questions “, the proceedings of the day had to end.

Van Loan declined to comment on these pending legal issues.

When asked if Lawrence would appear on the witness stand on Tuesday, Van Loan shrugged and said “that remains to be seen”.

Dixon was shot and killed three times around 7.20 p.m. on February 11, 2020, near the 46 Sheehan Court apartment complex. He was pronounced dead shortly after at the HealthAlliance at the Hudson Valley Broadway Campus. On Friday, the medical examiner who performed the autopsy said Dixon was hit once in the left arm, once by a bullet that penetrated his neck, came out and tucked into the top of his right arm, and once to his chest by a bullet that fractured his ribs and punctured his esophagus and aorta before lodging in the left side of his chest.

Prosecutors have previously claimed that Smith was a member of the G-Shine subset of the Bloods street gang and Dixon was a member of the Sex, Money, Murder subset of the Bloods. They said Smith shot Dixon following a series of phone calls earlier today on February 11, 2020, including one that involved an “heated argument” about 30 minutes before the shooting, as Dixon had become a handicap for the gang.

William T. Martin, Smith’s attorney, has denied Smith’s involvement in a gang and so far prosecutors have made no mention of possible gang connections.

On Monday, State Police Senior Investigator Brian Salmon said he analyzed Smith’s Dodge Durango “infotainment system” and discovered that the vehicle was parked in the Styvestant Charter Apartments at the time. where Dixon was shot. He also identified a series of call logs taken from the car’s infotainment system.

State Police investigator David Meyers said Monday that Smith was driving this Dodge Durango the next day when he was arrested in New York.

Meyers said he was part of a contingent of police vehicles that arrested Smith around 4:30 p.m. on February 12, 2020. He said when he approached Smith, who had previously been arrested and was seated in the back of a police vehicle, Smith asked “is this an arrest warrant?” “

When questioned by Van Loan, Meyers said Smith’s question was spontaneous and did not answer any questions put to him, and said Smith asked the question “as soon as I got in the vehicle.”

During a preliminary hearing, Meyers said the only time he heard the term “body warrant” was in connection with a homicide or murder. However, he offered no such testimony on Monday. Meyers resisted Martin’s efforts during cross-examination, however, to say that a body warrant was just another way of saying arrest warrant.

Testimony at the trial will resume at 1 p.m. Tuesday at the Ulster County Courthouse.


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