High Loan To Value Ohio Mortgage Lending Defined

April 1st, 2022 by admin No comments »

A small part of HLTV Ohio home mortgage lending is geared toward Ohio subprime (high-risk) borrowers. For most HLTV borrowers, however, default risk is low. Lenders thus gain from increased assurance that loans will be repaid, while borrowers gain lower interest rates on their restructured credit card debt, plus tax-deductibility on some of their Ohio home equity loan interest.

The use of the word subprime to characterize HLTV lending has produced some confusion regarding its nature and risks and has led some observers to regard the practice as requiring specialized skills. In fact, the profitability and low average risk of HLTV lending have
been among the industry’s best-kept secrets. Some banks entering HLTV lending are surprised by the profitable low-risk lending opportunities it can offer. Banks like City Holding Company (Charleston, West Virginia) and Community West Bancshares (Goleta, California) are among those that until recently had been reluctant to enter the HLTV arena. After they began offering HLTV loans in 1997, bank executives soon realized that ”the business is not as complex as they initially believed and is similar to the Title I lending they had done for years” (Talley 1998, 7).

The confusion has largely come from semantic difficulties. Before HLTV lending, the vast majority of loans outside the specifications of Fannie Mae and Freddie Mac went to borrowers with less than excellent credit.

That is no longer the case, but the connection between failing to conform to Fannie Mae and Freddie Mac standards and Ohio subprime branding lives on. The subprime brand (or B and C ratings) is often still applied to all loans that have ”been rejected by Freddie Mac or Fannie Mae because [the loans] don’t meet their underwriting criteria” (Bush 1997, 34). Freddie Mac defines the subprime Ohio home mortgage market as a niche that finances mortgages that do not meet traditional underwriting standards. Ohio Subprime mortgages are made to borrowers who have a variety of past credit problems of varying severity or to people with unconventional borrowing needs, including those that exceed 100 percent of the underlying property’s value. (Roche 1998)

The implications of Freddie Mac’s characterization are important: references to Ohio subprime mortgages may arise because of borrower characteristics or Ohio mortgage product characteristics. This confusion was evident in the November 1996 conflict between Greentree Financial, a leader in manufactured housing loans, and Faulkner & Gray, a publisher of industry statistics on theOhio subprime lending industry. Before November 1996, Faulkner & Gray’s Inside B&C Lending was reporting Greentree Financial as the number 2 servicer in B and C (or subprime) loans.

Reputation Management is the Answer How Your Business Is Perceived

March 1st, 2022 by admin No comments »

Is it true that you are keen on finding out about dealing with your standing? Have you been searching for accommodating and solid data? Indeed, this article will ensure you get a few strong ideas. It will assist you with sorting out some way to more readily deal with your standing.

Posting data via online media locales is essential to your business’ standing. You should post a few times each week at any rate to actually run an advertising effort. Assuming you see that posting via online media locales is overpowering, consider recruiting an aide to make your posts for you.

At the point when individuals invest in some opportunity to offer something about your business, it is vital that you are sufficiently gracious to answer. While you might be an extremely bustling individual, it shows your crowd that you really care about them and what they need to say. This is imperative to keep a consistent client base.

At the point when you talk with your crowd, ensure that you do as such in a conversational tone. Individuals try to avoid the possibility of entrepreneurs continuously addressing them with promoting to them. While you would like to make a deal, you ought to never cause a client to feel like this is your main concern.

Be grateful. Assuming somebody leaves a decent audit about your organization, send them an individual message and express gratitude toward them for their criticism. On the off chance that conceivable, send your client a coupon for a specific percent off on their next buy as a much obliged. In the event that this is preposterous, earnestly say thanks to them for their input.