Lending – EZY Eating Food, Diet & Protein Bars http://ezyeating.com/ Nutrition Ideas Wed, 22 Sep 2021 21:54:43 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://ezyeating.com/wp-content/uploads/2021/05/default.png Lending – EZY Eating Food, Diet & Protein Bars http://ezyeating.com/ 32 32 Volunteers lend a hand to several projects across the Valley for the Day of Action https://ezyeating.com/volunteers-lend-a-hand-to-several-projects-across-the-valley-for-the-day-of-action/ https://ezyeating.com/volunteers-lend-a-hand-to-several-projects-across-the-valley-for-the-day-of-action/#respond Wed, 22 Sep 2021 21:37:00 +0000 https://ezyeating.com/volunteers-lend-a-hand-to-several-projects-across-the-valley-for-the-day-of-action/ HARRISONBURG, Va. (WHSV) – Hundreds of volunteers were in the valley on Wednesday for the Harrisonburg and Rockingham County United Way’s annual Day of Action. United Way was excited to do even more hands-on projects this year, after the event had to be changed last year due to COVID-19. Being practical gives community members a […]]]>

HARRISONBURG, Va. (WHSV) – Hundreds of volunteers were in the valley on Wednesday for the Harrisonburg and Rockingham County United Way’s annual Day of Action.

United Way was excited to do even more hands-on projects this year, after the event had to be changed last year due to COVID-19.

Being practical gives community members a better idea of ​​the behind-the-scenes need of local organizations.

A group of volunteers were at the Blue Ridge area food bank to repackage produce, which will be sent to families in need on Thursday evening.

“It can be very difficult for families to buy products, so we try to complement this in any way we can and help support the nutrition, health and well-being of these community members,” Colleen Berger, volunteer and food drive coordinator for BRAFB, said.

It means meeting these people where they are. The food will be delivered through the food bank’s mobile pantry program, which follows the Gus bus to different areas of Harrisonburg.

“The Gus Bus is another place where we have volunteers cleaning it up today, so it will be nice and clean tomorrow for delivery of all of these products,” said Nadina Pupic, Program Support Specialist for United Way of Harrisonburg. and Rockingham County.

Berger says the food bank is grateful to have so many people to help because they wouldn’t be able to serve those in need without help from the community.

“We cover 25 counties and eight cities. There is no way to do it without our volunteers. Projects like this out in the community, it’s really important to us, ”said Berger.

Volunteers also lent a hand to around 20 other local organizations and schools on Wednesday, but some projects had to be postponed due to the rain.

If you want to learn more about volunteering for the food bank, check out their website.

You can also go to the United Way web page, where they can also put you in touch with other organizations in the region.

Copyright 2021 WHSV. All rights reserved.

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Evergrande gave workers a choice: lend us money or lose your bonus https://ezyeating.com/evergrande-gave-workers-a-choice-lend-us-money-or-lose-your-bonus/ https://ezyeating.com/evergrande-gave-workers-a-choice-lend-us-money-or-lose-your-bonus/#respond Wed, 22 Sep 2021 06:23:16 +0000 https://ezyeating.com/evergrande-gave-workers-a-choice-lend-us-money-or-lose-your-bonus/ When struggling Chinese real estate giant Evergrande ran out of cash earlier this year, it turned to its own employees with a strong case: Those who wanted to keep their bonuses should give Evergrande a short loan. term. Some workers have asked friends and family for money to lend to the company. Others borrowed from […]]]>

When struggling Chinese real estate giant Evergrande ran out of cash earlier this year, it turned to its own employees with a strong case: Those who wanted to keep their bonuses should give Evergrande a short loan. term.

Some workers have asked friends and family for money to lend to the company. Others borrowed from the bank. Then, this month, Evergrande suddenly stopped repaying the loans, which had been billed as high-interest investments.

Today, hundreds of employees joined panicked homebuyers to demand reimbursement from Evergrande, rallying outside the company’s offices across China to protest last week.

Once China’s most prolific real estate developer, Evergrande has grown into the country’s most indebted company. It owes money to lenders, suppliers and foreign investors. He owes unfinished apartments to homebuyers and has racked up over $ 300 billion in unpaid bills. Evergrande faces lawsuits from creditors and has seen its shares lose more than 80% of their value this year.

Regulators fear that the collapse of a company the size of Evergrande will cause upheavals throughout China’s financial system. Yet, so far, Beijing has not intervened with a bailout, having promised to teach the indebted corporate giants a lesson.

Angry protests by homebuyers – and now the company’s own employees – could change that calculation.

Evergrande is at the mercy of buyers of nearly 1.6 million apartments, according to one estimate, and could owe tens of thousands of its employees money. While Beijing remains relatively silent on the future of the company, those who are owed money say they are getting impatient.

“We’re running out of time,” said Jin Cheng, a 28-year-old employee from the eastern city of Hefei, who said he invested $ 62,000 of his own money in Evergrande Wealth, the investment arm of the company, on demand. senior management.

As rumors circulated on the Chinese internet that Evergrande could go bankrupt this month, Mr. Jin and some of his colleagues gathered outside provincial government offices to pressure authorities to intervene.

In the southern city of Shenzhen, homebuyers and employees crowded into the lobby of Evergrande’s head office last week and screamed for reimbursement. “Evergrande, give back my money that I earned with blood and sweat!” some could be heard screaming in video footage.

Mr. Jin said employees at Fangchebao, Evergrande’s online platform for real estate and auto sales, have been told that each department should invest in Evergrande Wealth on a monthly basis.

Evergrande did not respond to a request for comment, but the company recently warned it was under “enormous” financial pressure and said it had hired restructuring experts to help determine its future.

It hasn’t always been that way.

For more than two decades, Evergrande has been China’s largest developer, making money out of a real estate boom on a scale the world has never seen. With each success, Evergrande has expanded into new areas: bottled water, professional sports, electric vehicles.

Banks and investors cheerfully invested the money, betting on China’s growing middle class and its appetite for homes and other properties. More recently, real estate has come under intense scrutiny from Chinese regulators who want to end the boom years and have forced the industry to start paying down debt.

The idea was to reduce the exposure of Chinese banks to the real estate sector. But in the process, regulators withdrew the money developers like Evergrande needed to finish building homes, leaving families without the homes they had already paid for.

“The Chinese financial system is really complex and when you see cracks like this you realize the impact it could possibly have on society,” said Jennifer James, investment manager at Janus Henderson Investors. “If Evergrande were to disappear tomorrow, it could be a socially systemic problem. “

Ms James and other investors said they only heard about Evergrande’s wealth management strategy involving its employees this month, when the company revealed it owed $ 145 million in cash. refunds.

Evergrande has attempted to sell parts of his vast empire to raise new funds, but said last week he was “not sure the group would be able to close such a sale”. He accused the media of triggering panic among homebuyers with negative coverage.

But Evergrande’s funding channels started to dry up long before last week. According to employee interviews, state media reports and corporate documents seen by The New York Times, the company began forcing staff members to help bail it out as early as April, when she started selling short term loans.

About 70 to 80 percent of Evergrande employees across China were asked to donate money that would then be used to help fund Evergrande’s operations, Liu Yunting, consultant for Evergrande Wealth, recently told Anhui. Online Broadcasting Corporation, a public news group.

A version of this interview went offline on Friday. Anhui Online Broadcasting did not respond to a request for comment.

The scope of the campaign and the amount of money it could have raised was unclear. Employees were told to each invest a certain amount of money in Evergrande Wealth products, and if they didn’t, their performance pay and bonuses would be tied up, the employees told Anhui.

Company management said the investments were part of “supply chain finance” and would allow Evergrande to make payments to its suppliers, Liu said in his interview with Anhui. “Because we, the employees, had to fill a quota, we asked our friends and families to put in some money,” he said.

Mr. Liu said his parents and in-laws invested $ 200,000 and that he invested around $ 75,000 of his own money in Evergrande Wealth.

Even before the protests last week, Evergrande was on the wrong side of Beijing. At the end of last month, its executives were called to a meeting with regulators. Officials from major banking and insurance supervisors in China have called on the rulers to pay off their huge debt in order to keep the Chinese financial market stable.

The authorities’ biggest concern is the unfinished apartments at Evergrande. The company has nearly 800 developments underway in more than 200 cities across China.

Evergrande, which has often pre-sold apartments to raise funds before their completion, may still have to deliver up to 1.6 million properties to homebuyers, according to a Barclays estimate.

Under close scrutiny, Evergrande convened its top executives earlier this month and asked them to publicly sign what he called a “military order” – a pledge to complete unfinished real estate developments.

Wesley Zhang and his family are among the hundreds of thousands of families still waiting for their apartments, and they are hopeful that the company will be able to deliver. Mr. Zhang, 33, joined other homebuyers who protested in Hefei last week after learning that Evergrande also owed its employees money.

“Everyone is anxious, we are like ants on a hot pan, not knowing what to do,” Zhang said, using a Chinese expression to describe the distress of seeing a $ 124,000 investment potentially go missing. He said he hoped the protests would spur the government to act before it was too late.

“We hope this will prompt the central government to pay enough attention,” Zhang said. “Then someone would come out to intervene. “

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vuenow infotech: Vuenow Infotech lends a helping hand to Bulgarian data centers https://ezyeating.com/vuenow-infotech-vuenow-infotech-lends-a-helping-hand-to-bulgarian-data-centers/ https://ezyeating.com/vuenow-infotech-vuenow-infotech-lends-a-helping-hand-to-bulgarian-data-centers/#respond Tue, 21 Sep 2021 02:26:00 +0000 https://ezyeating.com/vuenow-infotech-vuenow-infotech-lends-a-helping-hand-to-bulgarian-data-centers/ Vuenow Infotech, an India-based EDC (Edge Data Center) company, has expanded its wings in Europe. A six-member delegation – including Sukhwinder Singh Kharour, Founder and CEO; Abhaydeep Singh Mutti, director; Rahul Bhargav, COO; Nitin Srivastava, technical director; Jayant Trehan, financial manager; and Munish Arora, Head of Innovation – recently visited Bulgaria and signed a Memorandum […]]]>
Vuenow Infotech, an India-based EDC (Edge Data Center) company, has expanded its wings in Europe.

A six-member delegation – including Sukhwinder Singh Kharour, Founder and CEO; Abhaydeep Singh Mutti, director; Rahul Bhargav, COO; Nitin Srivastava, technical director; Jayant Trehan, financial manager; and Munish Arora, Head of Innovation – recently visited Bulgaria and signed a Memorandum of Understanding with Plovdiv Tech Park, Plovdiv, Bulgaria, which will strengthen the country’s data center infrastructure.

The MoU was signed on August 26 by the representative of Vuenow Srivastava and Va sk a Stoya nova and Venelin Yordanov, Executive Directors, Plovdiv Tech Park, in the presence of Rajesh Lal, Head of Chancellery, Embassy of India in Bulgaria; Stefan Stoyanov, Deputy Mayor of Plovdiv; and Kharour, founder and CEO of Vuenow Infotech. This involves developing a primary central location with a 100-rack Tier 4 data center in Plovdiv and six EDCs in the initial phase.

“Besides setting up DCs and EDCs, the company also plans to open skills development centers across Bulgaria to train young people in IT skills and then integrate them into the technical departments of the company, thus generating jobs, ”Kharour said.

The delegation also discussed other projects with Kiril Petkov, Minister of Economy in the Bulgarian government. He ensured full cooperation for any project Vuenow enters the country. The delegation also met a team from the Ministry of Tourism and discussed the organization of a regional film awards festival in India. The process will begin soon following discussions with stakeholders in the film industry.

Vuenow Infotech Pvt Ltd was established in 2019 with the aim of becoming India’s most preferred computing power and data storage provider. The company is on track to establish the largest edge computing network by 2025. It is also in talks with various state governments and central government departments to create very robust, efficient and balanced data management networks. .

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Mortgage Lenders Can Now Count Rent Payments As Part of Your Credit Image https://ezyeating.com/mortgage-lenders-can-now-count-rent-payments-as-part-of-your-credit-image/ https://ezyeating.com/mortgage-lenders-can-now-count-rent-payments-as-part-of-your-credit-image/#respond Mon, 20 Sep 2021 04:10:25 +0000 https://ezyeating.com/mortgage-lenders-can-now-count-rent-payments-as-part-of-your-credit-image/ In an effort to help first-time homebuyers get into a tough housing market, mortgage giant Fannie Mae is now looking at rent payments as part of borrowers’ credit history. Renters’ dreams of home ownership often collide with a quirk of the credit reporting system: Landlords fail to report rent payments to credit bureaus. So tenants […]]]>

In an effort to help first-time homebuyers get into a tough housing market, mortgage giant Fannie Mae is now looking at rent payments as part of borrowers’ credit history.

Renters’ dreams of home ownership often collide with a quirk of the credit reporting system: Landlords fail to report rent payments to credit bureaus. So tenants can view a stellar record of on-time payments without seeing any effect on their credit scores. (Mortgage payments, on the other hand, are part of your credit score, making it easier to qualify for another mortgage, if you already have a mortgage.)

Starting September 18, Fannie Mae allows lenders to review the rental history of loan applicants as part of the underwriting process. With the permission of borrowers, lenders can use bank account data to identify up to 12 months of rent.

Fannie Mae CEO Hugh Frater said the initiative aims to remove “systemic barriers” to homeownership for those who have not been able to build their credit rating with cards. credit and auto loans. And he points out that payment data will only be used to increase borrowers’ credit scores.

“There is no way this could hurt their credit score, and it will only be used to help eligible homebuyers qualify for mortgage credit,” Frater recently wrote on Fannie’s website. Mae. “Any records of missed or inconsistent rent payments identified in the bank account data (and not already reflected on the applicant’s credit report) will not adversely affect their ability to qualify.” “

A 17% increase in solvent applicants

The new policy would help about one in six potential borrowers access homeownership, reports Fannie Mae. In other words, this initiative is designed for consumers who are about to qualify for a mortgage, but are not quite there.

The lending giant examined a sample of mortgage applicants who had not owned a home in the past three years and whose applications for Fannie Mae loans were turned down. About 17 percent of rejected applicants would have been approved had their rent payments been considered.

Fannie Mae says her new system will track rent payments that show up in the borrower’s bank statements. Fannie says this applies whether you paid rent by check or electronically, for example through a company’s payment portal or even Venmo or PayPal.

Fannie Mae does not make loans directly. Instead, he relies on lenders to make loans that meet his guidelines; Fannie then purchases loans and groups them together as investments. Freddie Mac, the other major government-sponsored loan company, has yet to begin reviewing rental payment history – but the regulator overseeing Fannie and Freddie has endorsed the idea.

“For many households, rent is the biggest monthly expense,” Sandra L. Thompson, acting director of the Federal Housing Finance Agency, said in a statement. “There is absolutely no reason why the timely payment of monthly housing expenses should not be included in underwriting calculations. “

Bridging the racial divide

Fannie Mae says the new effort targets the lingering racial divide in housing. According to the US Census Bureau, only 45% of black Americans owned their homes in the second quarter of 2021, compared to almost 74% of white Americans.

“This gap has remained steadfast since the early 1900s, and it stems in part from historically racist government policies that have disadvantaged black Americans and hampered their ability to create wealth and economic stability,” Frater wrote. “It was estimated that if homeownership rates were the same for all races, the wealth gap between black and white families would be reduced by 31%.”

Some 45 million American consumers have too rare a credit history to qualify for a mortgage. The Consumer Federal Protection Bureau calls this segment the nation’s “credit invisible” – a description that disproportionately includes blacks and Hispanics.

Fannie Mae’s new policy focuses on consumers who have bank accounts, so it’s designed for those who are on the verge of being creditworthy. It would not help the small proportion of Americans who do not have a bank account.

But for borrowers who can use rent payments to boost creditworthiness, Fannie’s new policy is “a blessing,” says Magesh Sarma, chief information officer at AmeriSave Mortgage in Atlanta. The company’s loan officers alert borrowers to the program and ask them to provide information through an online portal. From there, Fannie’s systems verify the rent payments.

“We are referring a lot of customers because they are not eligible for credit,” Sarma explains. “This will make the dreams of home ownership accessible to many clients that we turn down. “

Some services allow you to pay to report rent payments

Fannie Mae isn’t the first to notice that there is no direct way for tenants to report rent payments to the credit bureaus. Seeing a hole in the system, a number of companies offer credit reporting services that alert credit bureaus to on-time rent payments. Three examples:

  • Experian Rental Office: If your property management company or landlord works with Experian’s RentBureau, your rent payment data may be shared with Experian. If your landlord doesn’t report through RentBureau, you can sign up through a rent payment service that does, such as RentTrack, PayYourRent or Cozy.
  • Kharma rental: Rental Kharma reports rent payments to TransUnion. To use the service, you must rent from a property management company or the property owner. Rental Kharma will verify your payment history with your landlord or property manager and include six months of past rent payments in their reports. There is a start-up fee of $ 50 to start using the service, after which you will pay $ 8.95 per month.
  • Rent reporters: RentReporters sends data on your rent payments to two credit bureaus, TransUnion and Equifax. RentReporters tracks your rent payments by contacting your landlord directly to verify that on-time payment has been made. The registration fee is $ 94.95 which will get you two years of past rent data reports, then $ 9.95 per month to maintain the service.

Learn more:

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Defi TVL climbs higher, use of optimism increases, 270K BTC on ETH, loans on ETH hit $ 44 billion – Defi Bitcoin News https://ezyeating.com/defi-tvl-climbs-higher-use-of-optimism-increases-270k-btc-on-eth-loans-on-eth-hit-44-billion-defi-bitcoin-news/ https://ezyeating.com/defi-tvl-climbs-higher-use-of-optimism-increases-270k-btc-on-eth-loans-on-eth-hit-44-billion-defi-bitcoin-news/#respond Sat, 18 Sep 2021 20:52:19 +0000 https://ezyeating.com/defi-tvl-climbs-higher-use-of-optimism-increases-270k-btc-on-eth-loans-on-eth-hit-44-billion-defi-bitcoin-news/ As of mid-September, the total locked-in value (TVL) in decentralized finance (challenge) continues to climb, as the value held on Ethereum, Binance Smart Chain, Avalanche, Solana and other blockchains has increased significantly to reach 171 billion dollars today. On the Ethereum network, there are 270,783 bitcoins held in TVL worth over $ 13 billion and […]]]>

As of mid-September, the total locked-in value (TVL) in decentralized finance (challenge) continues to climb, as the value held on Ethereum, Binance Smart Chain, Avalanche, Solana and other blockchains has increased significantly to reach 171 billion dollars today. On the Ethereum network, there are 270,783 bitcoins held in TVL worth over $ 13 billion and $ 15 billion has been traded on 14 different Ethereum-based decentralized exchange (dex) platforms. $ 23.8 billion has been traded between various blockchain protocols, according to a recently released weekly challenge report.

The growth of the challenge remains exponential

A number of crypto assets like bitcoin (BTC) and ethereum (ETH) have risen in value over the past month, but for the most part, crypto-assets like solana (SOL) and avalanche (AVAX) have stolen the show. in the last 30 days.

Defi TVL climbs higher, use of optimism increases, 270,000 BTC on ETH, loans on ETH hit $ 44 billion
Across 14 different Ethereum-based dex platforms, there have been $ 15 billion in swaps in the past seven days. Data recorded by Dune Analytics.

Decentralized Finance (challenge) solutions continue to grow exponentially and statistics from Dune Analytics indicate that $ 15 billion has been traded on 14 Ethereum-based dex platforms. Uniswap captured over 62% of that $ 15 billion in global trade volume by ordering $ 9,620,102,739 in swaps over the past week.

Defi TVL climbs higher, use of optimism increases, 270,000 BTC on ETH, loans on ETH hit $ 44 billion
Statistics from Defillama.com show that Pancakeswap has 5.55 billion TVL and Sushiswap with more channel connectivity has 5.46 billion TVL.

While Uniswap has a lot of volume, the Binance Smart Chain dex Pancakeswap has a TVL of around $ 5.55 billion according to metrics recorded on Saturday. Sushiswap has $ 5.46 billion and it has a lot more connections than the BSC network alone. The total weekly dex trading volume on a number of blockchains according to Coin98 Analytics is $ 23.8 billion.

Defi TVL climbs higher, use of optimism increases, 270,000 BTC on ETH, loans on ETH hit $ 44 billion
Weekly dex metrics by Coin98 Analytics, which leverages data from Debank and Dune.

The measurements show that there is $ 171 billion in TVL spread across a myriad of blockchains. Ethereum still dominates TVL by far, but a number of other chains have risen through the ranks in terms of activity over the past month.

Data from the latest challenge report from Coin98 Analytics shows that the total number of Polygon wallets has exceeded 68.3 million. The results from Coin98 Analytics also show that “Optimism and Arbitrum addresses increased 2 and 6 times, respectively”.

“Although the number of Optimism addresses [has] significantly surpassed that of Arbitrum, last week means a big increase in Arbitrum against optimism, ”Coin98 Analytics said. “Specifically, the total number of arbitration addresses reached 121,000, while the number of optimism addresses fell behind to 103,000,” the report adds.

Over $ 7 billion on bridges, TVL loan on Ethereum reaches $ 44 billion, large amount of Bitcoin mined on Ethereum

Dune Analytics’ Bridge Away (L1 Ethereum) statistics show that there is $ 7.71 billion TVL on Harmony, Near Rainbow Bridge, Optimism ERC20 Bridges, Arbitrum Bridges, Solana Wormhole, Fantom Anyswap Bridge, Polygon ERC20 Bridge and the Avalanche Bridge. On Friday, the Wormhole Project announced that its ETH – SOL token bridge is now live.

Defi TVL climbs higher, use of optimism increases, 270,000 BTC on ETH, loans on ETH hit $ 44 billion
Layer 2 (L2) fee data for September 18, 2021, according to L2fees.info.

L2fees.info states that an ether transfer using Loopring is $ 0.25, a transfer through Polygon Hermez is also $ 0.25, Zksync is $ 0.27, Arbitrum One costs $ 1.64 and Optimism costs around $ 3.06 on Saturdays. Meanwhile, L2fees.info shows that the median fee to send ethereum (ETH) on September 18 is over $ 5 per transfer.

Defi TVL climbs higher, use of optimism increases, 270,000 BTC on ETH, loans on ETH hit $ 44 billion
Metrics by Coin98 Analytics, which uses data from Debank and Defillama.

Another interesting statistic for the challenge this week discovered by Coin98 Analytics, is the total value of locked-in loans on Ethereum today is around $ 44 billion. Additionally, out of seven different bitcoin (BTC) projects that use the Ethereum network, 270,783 bitcoin are held at TVL worth over $ 13 billion today.

This measure includes projects such as WBTC, TBTC, SBTC, IMBTC, PBTC, HBTC and RENBTC. 76% of the 270,000 bitcoins or $ 13 billion of wrapped or synthetic BTC is used by the Wrapped Bitcoin (BTC) project and its participants.

What do you think of the growing activities linked to the decentralized finance space (challenge)? Are you planning to challenge slow down soon? Let us know what you think of this topic in the comments section below.

Tags in this story

Arbitrum, Avalanche, Binance Smart Chain, BSC, BSC network, Coin98 Analytics, Debank, Decentralized Exchanegs, decentralized finance, DeFi, Defi Blockchains, defillama.com, DEX, Dex Platforms, Dune Analytics, Ethereum, loan, Optimism, Pancakeswap, Polygon , Solana, Sushiswap, uniswap, bitcoin wrapped

Image credits: Shutterstock, Pixabay, Wiki Commons, Dune Analytics, Coin98 Analytics, Defillama.com, L2fees.info, Coin98 Analytics Defi Report,

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.

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Affordable Rent, Homeownership Out of Reach for Minimum Wage Workers, Lending Tree Report Says https://ezyeating.com/affordable-rent-homeownership-out-of-reach-for-minimum-wage-workers-lending-tree-report-says/ https://ezyeating.com/affordable-rent-homeownership-out-of-reach-for-minimum-wage-workers-lending-tree-report-says/#respond Sat, 18 Sep 2021 11:34:39 +0000 https://ezyeating.com/affordable-rent-homeownership-out-of-reach-for-minimum-wage-workers-lending-tree-report-says/ A new report from Lending Tree says affordable housing is not available to minimum wage workers in any state in the United States. Policymakers and advocates have called for a minimum wage of $ 15, but that would not be enough. That wage, twice the federal minimum wage, would not offset skyrocketing rent and home […]]]>

A new report from Lending Tree says affordable housing is not available to minimum wage workers in any state in the United States. Policymakers and advocates have called for a minimum wage of $ 15, but that would not be enough. That wage, twice the federal minimum wage, would not offset skyrocketing rent and home ownership costs.

The report comes as New York City tries to distribute rent relief more quickly to struggling tenants in response to the coronavirus pandemic. The Cuomo administration has been criticized for slowly rolling out the billions of dollars made available for the effort in New York – and weeks after Governor Kathy Hochul took office – less than $ 400 million had been distributed to tenants.

“The reality is that in much of the country, the gap between the minimum wage and what it really takes to live is huge,” David Cooper of the Economic Policy Institute told Yahoo. He’s a senior analyst there. “Even big enough goals like $ 15 will fail in a lot of places.”

The federal minimum wage has been $ 7.25 since 2009. There are 30 states with higher minimum wages, but even these do not cover the gap created by rising housing costs. For example, in New York, the minimum wage is $ 12.50. This would make the maximum amount payable for housing $ 600 per month – assuming someone earning minimum wage works 40 hours per week.

For the study, the researchers based 40 hours of work per week, for 52 weeks of the year at minimum wage. Next, let’s take a look at the costs of renting and owning a home.

Can minimum wage workers afford housing?

Researchers have found that since 2000, owning and renting has become less affordable. Although it was a huge problem. For example, the owner’s median monthly costs in 200 were $ 771 higher than this true 30% of gross minimum wage income. Likewise, the rent was $ 296 higher than what a minimum wage worker could afford.

Fast forward to 2019 and the researchers found that the gap for each increased to $ 1,072 and $ 423, respectively.

Taking this point a step further, the report found that on average across the 50 states, a monthly affordable housing payment for minimum-wage workers is $ 1,074 less than the median monthly housing costs paid by workers. owners with a mortgage.

Lending Tree found that the average difference between a monthly affordable housing payment and a median gross rent is $ 533. The report found that there are cheaper states in which to live for minimum wage workers – like Arkansas, Maine and West Virginia – but even then the median rent is still around $ 300. more than they can afford.

What does this mean for workers and housing?

“The cost of everything keeps going up,” Reginald Torro told FingerLakes1.com. “You can raise wages by a dollar or two, but it won’t make any difference when the cost of these things continues to rise like it has. “

The recent college graduate works with an engineering company based in Cleveland. Torro went to college in New York. He said many of his peers who graduated at the same time are struggling – or have given up on owning a home. “Forget about renting for a minute,” he told FingerLakes1.com. “We’ve heard for a long time that if we go to college, if we get a good job, if we do everything you’re supposed to do, it would be possible to own a house. This is not possible for minimum wage workers – or those earning several dollars more per hour than minimum wage.

Renting and homeownership are inevitably linked. As homeownership becomes less accessible for those not earning much more than minimum wage, this has acted as an additional driver of median rent.

A higher minimum wage is not the answer to affordable housing problems

Margo Heggler, originally from Buffalo, told FingerLakes1.com that rent increases over the past five years have “deflated.” “You definitely feel defeated,” she said, after seeing her own rent go up four times in the past five years to over $ 20. “It doesn’t sound like a lot at once, but it doesn’t encourage anyone to stay put or rent long term.”

Heggler is a nurse earning $ 20 an hour now. She was making around $ 18 when she started three years ago. “I was able to absorb the first rent increase of $ 20 with the new job at the time,” she recalls. “The next three were a little harder to swallow, and in between all the extra services the owners charge at the moment – like snow removal, garbage collection, etc.” – that chipped away most of my raises. It’s like I haven’t had a raise.

To be clear, Heggler is not a minimum wage worker – but soaring housing costs – especially in high demand markets, make housing difficult for everyone. Even those earning what some might consider a “living wage” face a number of challenges.

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PNB cuts pension-based lending rate by 25 basis points to 6.55% https://ezyeating.com/pnb-cuts-pension-based-lending-rate-by-25-basis-points-to-6-55/ https://ezyeating.com/pnb-cuts-pension-based-lending-rate-by-25-basis-points-to-6-55/#respond Fri, 17 Sep 2021 12:24:11 +0000 https://ezyeating.com/pnb-cuts-pension-based-lending-rate-by-25-basis-points-to-6-55/ The state-owned National Bank of the Punjab (PNB) announced today that it has lowered the pension-based lending rate from 25 basis points (bps) to 6.55%. “The pension linked loan rate (RLLR) fell from 6.80% to 6.55%, with effect from September 17, 2021 (Friday),” the bank said in a regulatory filing. RLLR was introduced in October […]]]>

The state-owned National Bank of the Punjab (PNB) announced today that it has lowered the pension-based lending rate from 25 basis points (bps) to 6.55%.

“The pension linked loan rate (RLLR) fell from 6.80% to 6.55%, with effect from September 17, 2021 (Friday),” the bank said in a regulatory filing.

RLLR was introduced in October 2019. It is a variable rate personal or retail loan linked to external benchmarks, such as the Reserve Bank of India (RBI) repo rate.

PNB shares closed on Friday at ??39.70 each on BSE, down 5.02% from the previous close.

What is the pension rate?

Repo is the rate at which the RBI lends money to commercial banks for their short-term needs.

Recently, PNB said its board approved the increase of ??6,000 crore by issuing bonds.

The decision was made at the board meeting on Friday.

In a regulatory filing, the bank said its board of directors had “approved the raising of capital through the issuance of additional Basel III level 1 (AT-1) bonds or level II bonds or combination of the two in one or more installments up to an amount of ??6,000 crores “.

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After $ 6.5 Million Increase, DeFi Minterest Lending Platform Develops Value Capture Protocol to Make DeFi Fairer https://ezyeating.com/after-6-5-million-increase-defi-minterest-lending-platform-develops-value-capture-protocol-to-make-defi-fairer/ https://ezyeating.com/after-6-5-million-increase-defi-minterest-lending-platform-develops-value-capture-protocol-to-make-defi-fairer/#respond Thu, 16 Sep 2021 12:00:00 +0000 https://ezyeating.com/after-6-5-million-increase-defi-minterest-lending-platform-develops-value-capture-protocol-to-make-defi-fairer/ Minterest’s unique design maximizes long-term returns through new, fairer structure TALLINN from Estonia, September 16, 2021 / PRNewswire / – A seasoned team of cryptographers and blockchain industry luminaries today unveiled Interest, a value-added lending and borrowing protocol designed to make DeFi fairer for users. The revelation of the new protocol follows a recent private […]]]>

Minterest’s unique design maximizes long-term returns through new, fairer structure

TALLINN from Estonia, September 16, 2021 / PRNewswire / – A seasoned team of cryptographers and blockchain industry luminaries today unveiled Interest, a value-added lending and borrowing protocol designed to make DeFi fairer for users. The revelation of the new protocol follows a recent private fundraiser that saw the team behind the project raise US $ 6.5 million leading investors including KR1, DFG, CMS, DigiStrats, FOMOcraft, Bitscale Capital, PNYX Ventures, CMT Digital and Faculty Capital.

The Minterest Protocol provides users with decentralized token money markets, combined with a unique and fair incentive structure that will facilitate and promote widespread adoption of DeFi. What sets it apart from DeFi incumbents is that it is designed from the ground up to capture the value it generates. Using its own buy-back mechanism, the protocol passes 100% of the income generated to its community of active participants. A key element of this architecture is its unique liquidation mechanism which is fully managed by the protocol rather than being delegated to external parties.

Lending protocols generate significant value, but traditionally this value has not been conveyed to users. Existing loan protocols reward users in two main ways. First, through various forms of issuance of tokens through the extraction of cash to incentivize use. Second, through the liquidation process which is only accessible to a very small and sophisticated group of users who buy back the positions of under-secured borrowers at a market discount.

In an industry first, the Minterest protocol automatically undertakes liquidation processes, without the need for external liquidators, and thereby captures all fee income, including interest, flash loans, and liquidation fee income. On other loan protocols, this income is generally taken from the network for the benefit of a privileged few.

Uniquely, Minterest uses its operating surplus to automatically purchase the protocol’s native MNT token from the marketplace and then distribute it to its users. This means that the revenues of protocol users are supplemented by a portion of the protocol rewards, creating the potential for the highest long-term returns in DeFi.

Josh rogers, Founder and CEO of Minterest said, “The success of the blockchain industry continues to surprise everyone. However, we are seeing more and more gamers losing sight of the original motivation and what caused such success in decentralized digital economies. The Minterest protocol takes up crypto’s vision of creating a fairer and more egalitarian financial system with a new DeFi model that generates value for the entire ecosystem of users, instead of extracting it only for a few. uns, and in doing so, it intentionally challenges existing industry leaders.

“DeFi’s current total TVL of almost 170 billion dollars represents about as little as about 5% of global crypto assets. With significant and sustained crypto growth and the vast majority of crypto value yet to be gained, DeFi is in its infancy and represents a huge opportunity for crypto investors. Today’s DeFi lending and borrowing protocols have inflationary token models, neither capture nor transmit the value generated by the protocol, often lack cross-chain capabilities, and provide an overly complex user experience. Minterest changes that. Through their interactions, users create value on the platform, making their participation fair and rewarding. Without its community, any protocol would be obsolete, and our model places our community at the center of the value creation cycle. “

The design of the Minterest protocol works on the principle of flywheel tokenomics, creating a self-reinforcing value cycle in the platform. The greater the value created and captured in the protocol, the more value is passed on to users, thus improving the Annual Percentage Return (APY). This makes it more attractive to become a liquidity provider for Minterest, thereby attracting new users and, over time, exponentially increasing the overall value of the protocol.

The Minterest protocol will be audited by reputable auditors in the blockchain space before its early access phase, which underpins network security and gives users the confidence to participate fully.

James Wo, Founder and CEO of Investor Digital Finance Group (DFG) said, “Minterest has made a major improvement to the current DeFi ecosystem by addressing issues that exist in legacy DeFi protocols. Its unique token redemption mechanism using the protocol’s own revenue means that Minterest passes protocol rewards to users for their participation in its governance. It’s the first of its kind in DeFi, and a truly sustainable, long-term model. It’s that kind of innovation that really appeals to us as investors. “

Eric weiss, partner of Digital Strategies noted, “We love that Minterest has taken the original DeFi ecosystem and made it fairer and more inclusive for its users. In doing so, they ensure that the true beneficiaries are the users who share all the revenue generated by the protocol. These unique characteristics make it an attractive platform for everyone in the industry. We are excited to be making the trip with the team and supporting the evolution and growth of the protocol. “

Minterest was founded by Josh rogers, a serial technology entrepreneur with over 25 years of experience as a founder or as a member of start-up founding teams for projects such as COMindico, the world’s first point-to-point IP telecom; Oriel Communications, the world’s leading micro-billing content engine; Mitchell morgan, a consultancy and financial technology conglomerate comprising a digital agency for online digital platforms; Freelancer, the world’s largest independent job market; and hey you, australia largest home app. The Minterest team is like the who’s who of industry luminaries, with leadership backgrounds from Cardano, Prysm Group, Chainlink and IBM as well as members with elite academic and technological credentials.

Josh rogers, founder of Minterest, is available for an interview

About Minterest

Interest is a unique borrowing / lending protocol designed by industry leaders to serve the billions in Total Locked Value (TVL), in DeFi lending projects, with the specific purpose of putting user benefits at heart of his concerns. It provides users with a decentralized, fair and inclusive financial platform.

The Minterest protocol has the world’s first buy-back mechanism, which automatically passes income on to contributing users of the platform. In this way, users receive protocol income in addition to the highest borrowing / lending rates in the industry, thus creating the potential for the highest long-term returns in DeFi. The protocol also has on-chain treasury that captures and shares liquidation revenue with users.

Cision

View original content: https://www.prnewswire.com/news-releases/following-a-6-5m-raise-defi-lending-platform-minterest-builds-value-capturing-protocol-to-make-defi – fairer-301377964.html

SOURCE of interest

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River City Bank Expands CRE Loans to Texas and Several Western States with Hiring of Curtis Brunton https://ezyeating.com/river-city-bank-expands-cre-loans-to-texas-and-several-western-states-with-hiring-of-curtis-brunton/ https://ezyeating.com/river-city-bank-expands-cre-loans-to-texas-and-several-western-states-with-hiring-of-curtis-brunton/#respond Wed, 15 Sep 2021 13:11:50 +0000 https://ezyeating.com/river-city-bank-expands-cre-loans-to-texas-and-several-western-states-with-hiring-of-curtis-brunton/ Curtis Brunton has been appointed Senior Vice President, Business Development Officer for River City Bank. He is responsible for business development and CRE loans in the western United States. “Now that we have started to expand into new markets in Texas and other western states, we are delighted to welcome a proven artist like Curtis […]]]>

Curtis Brunton has been appointed Senior Vice President, Business Development Officer for River City Bank. He is responsible for business development and CRE loans in the western United States.

“Now that we have started to expand into new markets in Texas and other western states, we are delighted to welcome a proven artist like Curtis to our team. “

River City Bank announces the arrival of Curtis Brunton as Senior Vice President, responsible for business development. Brunton, who is based in Austin, TX, will be responsible for developing new businesses, with a focus on providing commercial real estate loans (CREs) across Texas and parts of the western United States. He brings over 22 years of lending experience. and new business development, having recently opened the San Francisco office for Morgan Stanley’s Commercial Mortgage Backed Securities (CMBS) group in 2017.

“Our team at River City Bank has enjoyed tremendous success over the past few years,” said Dan Franklin, director of commercial real estate for River City Bank. “Now that we have started to expand into new markets in Texas and other western states, we are delighted to welcome a proven artist like Curtis to our team. We look forward to its business development efforts in growing markets such as Austin, which will serve as its home port. “

TWEEZ THIS: People on the Move: @RiverCityBank expands CRE loans to #Texas with the announcement of Curtis Brunton as SVP, Austin-based Business Development Officer. He will oversee new business development and CRE loans in Texas and other states in the western United States. #Commercial Bank

“River City Bank has a track record of success in the California market, particularly with respect to commercial real estate loans,” said Curtis Brunton, senior vice president, responsible for business development at River City Bank. “I am excited to expand these practices to new markets in Texas and other western states. “

As a CRE loan originator with San Francisco-based Morgan Stanley, Brunton focused on commercial lending in the western United States through mortgage bank customers and direct borrowers. Prior to opening this office with Morgan Stanley in 2017, he spent a total of 15 years with PGIM Real Estate Finance and two years as Managing Director of Redwood Trust.

Brunton holds a Bachelor of Science in Finance from the University of Arizona.

For more information on River City Bank, visit RiverCityBank.com.

About River City Bank

Named one of the “50 Fastest Growing Companies” by the Sacramento Business Journal for each of the past five years, River City Bank is the Sacramento area’s premier merchant bank with assets of nearly 3, $ 4 billion. River City Bank offers a full range of banking services including loans, deposits and cash management tools to the commercial real estate, consumer and corporate sectors. With tailor-made executive-level service, an investment grade rating from S&P Global Ratings and a “superior” financial rating from the country’s leading independent bank rating firm, Bauer Financial, River City Bank is redefining the experience banking and every point of contact that surrounds it. River City Bank is the largest locally owned independent bank in the Sacramento area with offices in the San Francisco Bay Area and a presence in Southern California. For more information, please visit RiverCityBank.com or call (916) 567-2600. FDIC member. Equal housing lender.

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The wrong turn for World Bank concessional lending https://ezyeating.com/the-wrong-turn-for-world-bank-concessional-lending/ https://ezyeating.com/the-wrong-turn-for-world-bank-concessional-lending/#respond Sat, 11 Sep 2021 03:11:48 +0000 https://ezyeating.com/the-wrong-turn-for-world-bank-concessional-lending/ (MENAFN – Gulf Times) The International Development Association is the part of the World Bank that aims to help the poorest countries in the world. Its explicit mission is “to reduce poverty by providing loans and grants at zero or low interest rates for programs that stimulate economic growth, reduce inequalities and improve people’s living […]]]>

(MENAFN – Gulf Times) The International Development Association is the part of the World Bank that aims to help the poorest countries in the world. Its explicit mission is “to reduce poverty by providing loans and grants at zero or low interest rates for programs that stimulate economic growth, reduce inequalities and improve people’s living conditions”. IDA provides about a quarter of its financing in the form of grants and the remainder in the form of concessional loans repayable over 30 to 40 years, including a grace period of up to ten years.
In the fiscal year ending June 30, 2020, IDA committed nearly $ 30.5 billion to low-income countries. Next month, IDA’s 173 member states will meet to agree on its latest disbursement of funds, estimated at $ 94 billion for the two-year period 2021-2023. In annual terms, this is not a significant increase, especially given the massive economic devastation the Covid-19 pandemic has caused in low-income countries.
Developing countries have been ravaged by a combination of the health crisis caused by the pandemic, collapsed exports, rising global food prices, domestic economic contraction, falling tax revenues and external debt distress . The World Bank estimates that an additional 97 million people – many in Africa – will fall into extreme poverty in 2021. This may well be an underestimate, as it does not take into account rising food prices, increasing inequalities and impact on the poor. in South Asia.
Providing even the most basic of support to people in increasingly precarious conditions in the poorest countries will cost well over $ 47 billion a year. Researchers at the International Monetary Fund estimate that low-income countries will need around $ 200 billion over the four years to 2025 just to recover from the pandemic and an additional $ 250 billion to catch up with advanced economies. But even a smaller amount of IDA funding could provide some relief, especially in terms of government fiscal space, and is important because of low interest conditions.
But how much of this money will actually go to governments that desperately need to increase public spending on health and social protection, and promote economic recovery? Unfortunately, there is a high risk that IDA funds will be used in part to favor private sector actors, instead of allowing governments to directly support the poor.
Indeed, the World Bank Group, in line with its 2017 “Cascade” approach, introduced a “private finance first” model that favors private finance options over the use of public resources in development projects. As part of this broader strategy, IDA launched its own Private Sector Window (PSW) in 2017 to leverage private investment in recipient countries.
The PSW places donor aid resources under the direct control of the World Bank’s private sector investment arm, the International Finance Corporation (IFC), and its private sector guarantee arm, the Multilateral Agency. investment guarantee (MIGA). This means that IDA funds are used to subsidize private sector projects supported by IFC and MIGA in low-income countries and fragile and conflict-affected states.
This reorientation of development funds can be criticized on several counts. For starters, some accused the World Bank Group of a lack of transparency in subsidizing companies through a non-competitive process on the basis of unsolicited proposals. The bank has also not demonstrated sufficient impact on development, as the criteria for evaluating the PSW and demonstrating the “additionality” of private sector financing are complex and technical and do not explicitly take into account the factors involved. developmental effects. In fact, the effectiveness of the PSW appears to be limited to its role of hedging the risks associated with IFC and MIGA operations, rather than demonstrating the contribution of private finance to economic growth and sustainability. Finally, some have criticized the poor targeting of the PSW of development-related projects as part of the responses to Covid-19.
Even the World Bank’s PSW Mid-Term Review noted that “the question of whether a project can take place without PSW support does not always have a straightforward answer. The basic objective of introducing PSW in developing countries – to bring private finance into development projects – has also not been achieved. The 2021 assessment by the World Bank’s Independent Review Panel shows that, overall, the PSW has raised even less private capital than other blended finance instruments like the MIGA Guarantee Facility.
The World Bank’s persistence with a strategy focused on private finance – despite the dire need for increased public spending – may in part reflect the governance structure of IDA. The establishment of the body in 1960 represented a compromise accepted by developing countries, many of which had instead called for a United Nations multilateral fund operating on a “one country one voice” basis to help meet development needs. US influence at the World Bank prevented this, and the 74 IDA recipient countries now have less than 16% of the vote. This democratic deficit at the multilateral level, as well as a lack of accountability at the evaluation stages, further reduces the capacity of developing countries to influence decision-making.
The current reversal of positive development trends induced by the pandemic must be addressed through stable funding channels in developing countries. These channels should focus on subsidies supporting essential public services like health and education, as well as infrastructure. Given the inherent limitations of PSW, subsidizing the private sector to invest in public goods and services through IDA will only exacerbate the adverse consequences of the pandemic.
As long as IDA can be an important source of stimulus funds for the poorest economies, these resources must be used efficiently. This will require shutting down the PSW and, instead, providing resources directly to governments and developing alternative approaches to strengthen public finances and public services. We can no longer afford solutions that make the problem worse. – Project union

• Jayati Ghosh, Executive Secretary of International Development Economics Associates, is Professor of Economics at the University of Massachusetts Amherst and a member of the Independent Commission for the Reform of International Business Taxation.

• Farwa Sial is an Economist and Senior Policy and Advocacy Officer at the European Network on Debt and Development (Eurodad).

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