Are you HARPing?

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The Home Affordable Refinance Program (HARP) expires at the end of 2015. It’s been a great opportunity for millions of Americans to refinance to lower rates even when they owed more than the value of the home. But some estimates indicate there are still millions of eligible borrowers who have not taken advantage of it. Is this an opportunity for Credit Unions to be memberlicious?I think so………….HARP is truly a great program for borrowers. It can save them hundreds of dollars on a monthly payment or reduce the term of their loan. There are criteria to qualify for HARP, but the main points are below:A borrower eligible for HARP if they meet all of the following criteria:The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.The current loan-to-value (LTV) ratio must be greater than 80%.The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months. continue reading »last_img read more

Prepaid cards in line to complement corporate credit

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Jeff FaulkCorporate expenses have long been the realm of credit cards, but prepaid could soon be breaking through (or at least making a dent) in that barrier.Currently, Javelin reports 42 percent of corporate card spending is done via corporate credit cards. For smaller companies, that total comes to 25 percent. The percentage falls to 18 percent for businesses showing earnings between $100,000 and $1 million per year.Managing expenses more efficiently, controlling and/or restricting employee spending and simplifying expense reporting are just three benefits to using prepaid for corporate expense accounts. Administering funds via one main account and gaining greater control over expense tracking without putting an employer’s personal credit on the line or paying high interest rates also make prepaid an attractive option. This can be particularly true for small- to mid-size businesses where credit availability and access may be limited.Of course this doesn’t have to be an “all or nothing” proposition. Using a combination of both credit and prepaid would be appropriate and beneficial for a number of businesses. Bringing prepaid into the fold “makes cards available for employees that may not have a robust credit history and where daily stipends are more controllable from a centralized corporate body,” Javelin Senior Payments Analyst Nick Holland said in a recent paymentssource.com article. continue reading »last_img read more

Awoniyi Confident of Rio2016 Glory with Siasia

first_img“We won that competition because of coach Siasia and he made sure we forgot our problems and faced the task before us.“So I don’t think there is anything to fear at the Olympics since he is in charge. I can as well call him a magician,” he disclosed.The striker has been included in the team that will play in a four-nation tournament in South Korea later this month against the hosts, Denmark and Honduras, all teams that will play at the Olympics.“Right now I am working on how to get the South Korean visa for the four-nation tournament. I am sure we are not going there to make up the numbers because I heard that the teams playing in the tournament have also qualified for the Olympics,” he said.“It is going to be very tough but I am confident of our team. We won’t disappoint football loving Nigerians.”Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Nigeria Under-23 striker Taiwo Awoniyi believes the team is capable of impressive feats at the Olympic Games under the tutelage of coach Samson Siasia.The African U23 champions have been drawn in the same group with Sweden, Japan and Colombia at Rio 2016 but the FSV Frankfurt forward is confident that the coach would fashion out a victorious plan.“I am not sing-praising anybody, I am just being realistic. I have played under coach Siasia for some time now and he has this great quality of pushing players to do what such player never believed they can do in their life,” Awoniyi told Goal.“People won’t know what happened in Senegal where we not only qualified for the Olympics but also emerged African U23 Cup of Nations champions.last_img read more