Month: January 2018

Bankruptcy attorney Toledo helps in banking for bankruptcy

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From most recent not many years, there has been an expansion in the genuine monetary issues that individuals are experiencing and are falling back on the assistance of bankruptcy attorney Toledo. The prime and basic responsibility of a bankruptcy attorney

Legal advisors concentrate on the liquidation and help organizations, families and people all through the entire region. Individuals who require a complete fiscal begin might as well counsel a lawyer who can help in documenting for obligation easing. The point when people document for obligation help, it can help in ceasing wage garnishments, dispose of practically all the sorts of obligation and additionally put a close to the obligation gatherer’s provocation. The point when individuals index for obligation alleviation with the assistance of the lawyer stops dispossession or dispossession and will offer opportunity to the single person to do the installments. The liquidation legal advisors are obligation easing operators and will help in documenting for obligation alleviation which goes under chapter 11 code. To know where precisely the distinctive falls under liquidation contact the best insolvency legal counselor.

Chapter 11 or bankruptcy indexing alternatives & its representation

Chapter 11 lawyer will first verify where the distinctive fits in for the chapter 11 recording and they confirm the alternatives for their customers. Part 7 bankruptcies is for those people who can dispose of the restorative overheads, visa installments, payday credits and unsecured obligations to put the people on another fiscal begin. A chapter 11 lawyer can figure out if the alternative is ideal for their customers or not. Part 11 bankruptcies are additionally an alternate insolvency documenting for organizations and the individuals who have surpassed the edge for section 13 indexing. Part 12 bankruptcy recording is for reorganization of funds for angler and family agriculturists. Section 13 bankruptcy can help people in totally releasing of obligations as this sort of bankruptcy makes new interest free reimbursement approach. The reimbursement plans are extremely sensible and will administer obligations fittingly.

A bankruptcy attorney Toledo offers quality representation and help in indexing for the insolvency by figuring out the sort of liquidation that can release the substantial obligation. Consequently, individuals can read about insolvency alternatives about different varieties of chapter 11 recording. The methodology starts right from the time when the individual in obligation counsels the insolvency lawyer. They will give personalized consideration and these lawyers are polite enough to manage all the customers.

Reading the reviews provided by the author is one of the best ways to gain necessary information on http://www.bankruptcylawyerstoledooh.com/faq/

Banking Backlogs and Inconsistencies Plague the Mortgage System

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As a REALTOR in Williamsburg, VA, I have seen many of inconsistencies with mortgage companies during a down market. Frankly, this frustrates buyers and sellers, me, my staff and colleagues.

I have mortgage company incompetencies, slowdowns and backlogs to share. I have collected some stories from other agents in my RE/Max Capital office in Williamsburg, too. These snafus in the mortgage approval system impact buyers and sellers in a negative way.

Short Sales Frustrations
It is common for a seller to short sale a property, and to have the lender(s) make the seller wait six months for approval and then deny it! More often than not this crucial decision leaves the seller in financial ruins. The sale of the home is never closed, and the property now exists as bank inventory and may not even hit the real estate market for a year or two. Wasting time on short sales leaves homebuyers and home sellers hung-up in financial limbo, and real estate agents without a closed deal. This cannot be good for the economy.

FHA Owned Properties: HomeSteps and HomePath

The FHA is a government agency, backed by tax dollars. If a buyer happens to put an offer on an FHA owned property, they have to use the recommended program. The federal government, in its infinite wisdom, has instituted the HomeSteps program through Freddie Mac and HomePath through Fannie Mae as public loan programs for the home buyer to help assist in the process of closing deals on FHA owned properties. Private lenders work through the program while adhering to government guidelines.

Though the HomePath and HomeStep Programs are enticing for what they offer, the process is slow and unwieldy. Some real estate agents have found the formula applied to each loan approval is not always the same. One agent in my office had a buyer turned down because HomePath indicated they did not have enough income. When the agent confronted the loan officer, she wanted to know why the 10-month income verification was not applied, instead of 12-month verification. She said her clients would qualify with a 10-month formula, and the loan officer agreed it was allowed. Her complaint is that formulas are not being applied consistently. Even those with good credit and stable work histories are finding it hard to close on HomePath loans.

HomePath Lending Program
Fannie Maes HomePath program offers a traditional mortgage with 3% down, and no appraisal or premium mortgage insurance (PMI) is required. In addition, Fannie Mae offers another 3% down loan that includes home purchase and light to moderate renovations on primary or second homes or investment properties. A separate loan funds manufactured homes with the same 3% down payment.

HomeSteps Lending Program
The Freddie Mac Loan Program, HomeSteps, is stricter. The HomeSetps website recommends a 5% down payment with the possibility of qualifying for special programs offering down payment assistance. An appraisal is required on HomeSteps property purchases. Only certain homes will qualify for this program. A public review on the HomeSteps loan program is just as discouraging as HomePath. According to one buyer who complained publicly on CityData.com, the lender was Wells Fargo and the buyers made an initial offer on a Homesteps property, then made a lower offer once it was determined the house had illegal problems. She inquires, “Is it normal to wait three weeks for a reply?”

Often buyers become frustrated with these slow moving property deals and move on. More often then not, the sale never closes.

Bank of America Backlog on Foreclosure Contract & Loan Approval
The Bank of America foreclosure department also drags its feet on closing real estate sales. I had a buyer ready to close on a Bank of America owned foreclosure and it took them two months to produce a contract. My buyer had an 800 credit score, but it took so long to approve his application, he became frustrated and pulled money out of another investment to pay cash for the property. I was lucky he had assets and was not totally reliant upon bank financing.

Bank of America Loan to Income Ratio Askew?
Another client I had was prepared to close on a property with Bank of America financing and he had a 780 credit score. The loan officer waited until one week before closing to inform him he did not qualify because his debt to income ratio was too high. When we considered lending alternatives, five other banks approved his loan, and even the USAA approved it. Why was Bank of Americas loan to income ratio different than the rest?

The backlog in application requests, slow customer service, and inconsistencies with loan approvals are all reasons for concern about the mortgage lending industry today. Everyone involved in closing real estate deals becomes frustrated: real estate agents, buyers, sellers, lawyers and contractors. Even the federal government has become suspicious of Bank of Americas (and other mortgage lenders) incomplete foreclosure paperwork and processes.

Though the federal government has been investigating some issues, lender inconsistencies and slow or no customer service are rampant in this real estate market. Buyers need to build extra time into their home sales process and agents need to exercise patience and attention to details for property deals to close.

For more information about purchasing bank owned properties, residential or commercial properties, or listing properties for sale, visit http://www.voncannonrealestate.com.

MBA Education for Banking and Non-Banking Managerial Jobs

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Business schools in many countries offer management courses tailored to full time, part-time, executive and distance learning MBA programs. Since MBA degree from any well-known institute not only offers recognition, but also a high salary package, a wide range of MBA programs are tailored with specialized concentrations like finance, marketing, accounting, information technology, human resource management and many other fields. In India, some MBA colleges offer post graduation diploma courses called PGDM programs which are approved by All India Council for Technical Education (AICTE). AITCE is an apex Indian government undertaking with a view to improve the qualitative technical education system throughout the country and regulate the norms and standards for planning the quantitative growth and matters connected therewith. Since the strength of any country’s economy lies in finance and banking sectors, the importance of MBAs in these sectors cannot be understated.

In India, all types of commercial banks, public sector banks, rural banks, foreign banks, private banks and urban co-operative banking institutions play a significant role in boosting the economy and financial position of the country. MBA degree is considered to be the foremost qualification which is required by these banking and financial institutions for their managerial level positions. MBA education in finance provides important knowledge about the financial skills and solutions for the issues relating to the domestic and international banking and services. Market analysis and cash management skills are two important areas which every MBA student must know how to handle. MBA with specialization in finance offers to learn a variety of subjects like costing, budgeting, corporate finance, international finance, investments, working capital finance and securities etc. MBAs pursuing their courses in finance can start their career in any investment firm or any banking institute as an associate manager. MBA in finance from top MBA colleges offers lucrative job placements from big companies and financial institutes. An MBA in finance has options to work with leading banks and non-banking institutions. He or she might have an option to work as a securities analyst or working with brokerage firms dealing in buying and selling of securities.

Degree of MBA in India from any reputed college is considered to be one of the most sought after degree aimed at providing high class management studies. Since the studies of marketing teaches about the art of selling products and services, MBAs has to analyze and assess the feasibility of products and services according to the market demand. They are required to introduce marketing strategies for marketing new products. They have to set marketing goals and have to work on branding, planning and adoption of promotional campaigns. In other words, marketing MBAs have to bring out new ideas and concepts which can help the companies and organizations to grow and prosper. Marketing MBA courses are designed to help inculcate good reasoning and problem solving skills which can help the individual to sell and market the products in difficult situations. MBA in marketing offers good pay-scale packages and jobs in this area are always in demand for all commercial, industrial and corporate sectors.

About Author: ISBF has been established to impart quality education with international recognition in the area of Economics, CFP, Management and MBA Education courses in India.

Visit us at: http://www.isbf.edu.in/ for more info on MBA and MBA Colleges and Finance courses.

Skye Bank may opt for ‘International Banking’ License

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In view of emerging developments in the banking industry in Nigeria, with the recent guidelines published by the Central Bank of Nigeria (CBN) seeking to categorize banks into three different cadres- regional, national and international banks, our investigations revealed that the Board and management of Skye Bank may seek the international banking license.

The Bank currently has three foreign subsidiaries within the African continent, namely: Skye Bank (Sierra Leone) Limited, Skye Bank (Gambia) Limited, and Skye Bank (Guinea) Limited.

The CBN, in its recent release directed banks to submit their individual plans for their new banking models 90 days from October 4, 2010 (i.e. on January 3, 2011), on account of the repeal of the Universal Banking Model (one-stop shop financial services supermarket) which banks in Nigeria had operated inthe past few years.

In a recent special release to all banks and the general public, with the title “CBN Scope, Conditions and Minimum Standards for Commercial Banks Regulations No. 01, 2010”, the minimum capital requirement for banks seeking ‘national banking license’ was pegged at N25 billion, which was the minimum capital for the recently repealed Universal Banking license. In like manner, the CBN stated that the minimum capital for banks seeking international banking license is now N50 billion.

Skye Bank Plc is believed to likely seek the international banking license, considering that after raising additional capital of about N12 billion recently via a special placement, its capital rose to about N99 billion, which is approximately 100% above the minimum N50 billion capital requirement for international banks. This is in addition to the Bank’s three foreign subsidiaries, which the Bank is likely to keep, in order to remain internationally competitive.

Skye Bank, which has good reputation for supporting businesses, especially through structured finance in critical sectors such as manufacturing, power, oil and gas, construction, transportation, hospitality, education, housing, agriculture, maritime/shipping etc, is expected to continue its tradition, in addition to seeking to up-tier its business focus in favor of the corporate segment.

The Bank recently financed the ultra modern Beloxxi Industries Limited, the biggest indigenous biscuit manufacturing company in Nigeria today, which is located at Agbara, Ogun State.

It also funded projects such as Independent Power Projects (IPPs) in the South-South and North-West, Steel Mills in various parts of the country, fertilizer importation, ultra modern hotels in Lagos and Port Harcourt, private schools in Lagos and Abuja, housing schemes across Nigeria, West Africa’s leading cocoa factory, several oil and gas exploration and production installations, various vessel acquisitions, clearing and forwarding agency activities, etc.

Skye Bank is also committed to encouraging the Nigerian entrepreneurial spirit, having accessed significant funding through the CBN-led Commercial Agriculture Guarantee Scheme (CAGS) for subsequent on-lending to customers. The Bank equally partnered with Bank of Industry (BOI) in the disbursement of funds under the Power & Manufacturing Fund. It was also appointed among only four banks as a Primary Lending Institution (PLI) under the Cabotage Vessel Financing Fund (CVFF) Scheme by Nigerian Maritime Administration & Safety Agency (NIMASA).

Analysts suggest that the Bank would continue to leverage its well-acknowledged cutting-edge Information & Communication Technology (ICT) infrastructure for deployment in the areas of revenue collection, payment systems, and various e-banking platforms.

FOR MORE INFORMATION CONTACT
Head Office: Skye Bank Plc.
3, Akin Adesola Street, Victoria Island, Lagos.
Tel: + 234 1 2701600
Email:
www.skyebankng.com

Best Banking In Asia With Dbs Bank

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Ranked as the largest bank in South-East Asia by assets, the DBS Bank was established in 1968 as the Development Bank of

Singapore Limited by the Government of Singapore. It started operations in India in 1994 through a representative office

in Mumbai, which became a formal bank branch in 1995. Currently, the bank operates all over the country through 12 branches

in major cities and headquarters in Mumbai.
The DBS Bank extends its end-to-end services to facilitate capital in rapidly developing Asian countries. It has customized

banking products available for consumer, corporate, SME and wholesale banking segments across Asia and Middle East. With

subsidiaries like DBS Treasures, DBS Private Bank, Institutional Banking, DBS Private Equity, Capital Markets, DBS Vicker

Securites and POSB, the DBS Group is a comprehensive financial service institute.
Under personal banking, the bank offers a variety of savings and deposit accounts, Debt and Equity management, private

equity consultancy, protection services like health insurance and general insurance, International DBS Bank Debit Card,

Internet Banking etc. Under Institutional Banking, the DBS Bank provides services like Cash Management, Trade Finance,

Credit Facilities, Treasury Services like currency derivatives, forex and bonds/ interest rate derivatives, Securities and

Fiduciary Services, Capital Markets, Electronic Banking Services (DBS IDEAL, integrated web-based cash management gateway),

International Banking and Advisory Services.
In a competitive market for global banking, the DBS Bank stays ahead of its competitors by providing best quality of

services to its customers. The bank makes arrangement to provide detailed information about the financial products and

services to each customer, and has a 24 hour Customer Service actively handling all customer queries. The bank also lists

all its policies and processes regarding banking functions and dealing with customers on its website, easily available to

every client who wishes to have such information. In case any customer is dissatisfied with the bank at any level, a complaint against DBS Bank can be registered with the DBS

Bank Customer Care. The complaint can be made online on the website, at any of the toll free helpline numbers listed on the

website, through email, or by contact the branch manager of the concerned branch.
All DBS Bank Complaints are handled under an elaborate Grievance Redressal Policy which aims at efficient and prompt reply

and resolution of all issues. The branch manager is responsible to provide appropriate solution to every complaint within

14 days or date of complaint. In case customer is not satisfied with the response, the complaint can be escalated to the

Nodal Officer, further to the Chief Executive Officer and General Manager, and still further to the banking ombudsman

appointed by the RBI. All details on procedure and requirements of registering complaints at every level are detailed on

the banks website.
With its transparent operations and customer-friendly policies, the DBS Bank has become a trusted name among Indian

customers. It has been recognized as Indias Best Foreign Bank by the Financial Express E & Y Survey 2010, and also as

Indias Best Small Bank 2010 by Business Today.