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Commercial Lender

Transcript: Responsibilities as a Commercial Lender Commercial lenders are used specifically for loans to businesses All companies have complex financial situations, which requires human judgement from a commercial loan officer Some loans for companies are too large for a single bank, so a commercial lender will have to work with multiple banks in order to provide a package of loans By:Ryan Brennan University of Michigan has a solid undergraduate business program A major that would be beneficial for a commercial lender would be finance or business University of Michigan is ranked number 4 in the country for business and number 3 for finance A bachelor's degree would take 4 years to earn The cost for tuition and room and board is $43,377 a year One famous alumni from University of Michigan is Richard Costolo, who is the CEO of twitter Available job continued Salaries range from $32,000 to $120,000 The average salary is around $60,000 There is a project growth in employment as a commercial lender of 8 percent Advancement beyond being a commercial lender is supervising other commercial lenders A bachelor's degree in either business or finance is the minimum requirement to become a commercial lender Commercial lenders must also understand general business accounting Once hired, commercial lenders receive on-the-job training Available Job as a Commercial Lender Commercial Lender as a Career One company that has an open position as a commercial lender is Capital Bank The description of this job is that this person "Examines, analyzes, evaluates, and authorizes or recommends approval/denial of customer applications for commercial loans. Monitors and maintains existing commercial loan portfolio. Provides customer service to commercial Bank clients." Capital Bank is a large company that was founded in 1998 Capital Bank provides a range of commercial banking services which make up about half of the bank's loan portfolio (total of all loans held by the bank) What is a Commercial Lender? It is required to have a bachelor's degree as well as 3-5 years commercial lending experience College to Attend Commercial Lender Contact companies to ask if they need a loan Meet with the companies to gather information Explain different types of loans Obtain and verify financial information about the company Approving the loan application


Transcript: Mortgage Broker/Agent Mortgage Rate History *Late great Jim Flaherty made some difficult decisions and changes BUT it kept us out of the same mess as the US *Banks raise then drop rates over and over again. The BOC rate has dropped from 5.35% to 4.99% but what caused this? and why is it important to know this? *CMHC has made it increasingly difficult for first-time home buyers and self-employed borrowers Amina Mohamed Mortgage Agent & Real Estate Investor Amina's Mortgage Services License #11977 www.aminasmortgageservices/blog Tel: 416 697-5443 Fax: 289-809-3467 RRSP's: 1. Non-Arm's Length 2. Arm's Length Financing - Getting the Lenders to say YES! Here are the average 1, 3, and 5 year term mortgage rates over the last seven years. RE Investment Types Year Variable 5 Year Best Rate? 2014 3.00% 5.14% Variable 2013 3.00% 5.23% Variable 2012 3.00% 5.27% Variable 2011 3.00% 5.40% Variable 2010 2.60% 5.57% Variable 2009 2.42% 5.72% Variable 2008 4.79% 7.10% Variable Investing in 1st & 2nd Mortgages -access to over 30 lenders -structure your mortgage for your needs -work for you not the bank or the lender -will help you restructure financing to suit your investment goals Document Checklist History of Mortgages and what has happened since the financial meltdown of 2009 Purchase Price $350,000 Fin. 75% LTV $262,500 10% Own $ $35,000 15% VTB $52,500 1st Mortgage @4.99% = $1525.22 2nd Mortgage @ 4% = $135 Interest only *assuming 25 year amortization, 5 year term, 4.99% qualifying rate Financial Equalization Getting the Lender to Say VTB EXAMPLE YES! Self-Employed: * T1 & NOA (2 years) * Business License/Articles * 6 Months Financials & Bank Statements * Letter from Lawyer confirming self-employed status * Proof of downpayment * 2 Pieces of ID (photocopied back and front) Year 1 Year 3 Year 5 Year Best Rate? 2014 3.14% 3.79% 5.14% 1 Year Rate 2013 3.08% 3.73% 5.23% 1 Year Rate 2012 3.18% 3.91% 5.27% 1 Year Rate 2011 3.53% 4.29% 5.40% 1 Year Rate 2010 3.49% 4.28% 5.57% 1 Year Rate 2009 4.10% 4.64% 5.72% 1 Year Rate 2008 6.72% 6.91% 7.10% 1 Year Rate JV Partnering and Going on Title Average Variable vs 5 Year Fixed Rates Since 2008 Difference in Lending Employed: * T4 & NOA (2 Years) * Letter of Employment * Proof of Downpayment * 2 Recent Pay Stubs * 2 Pieces of ID (photocopied back and front) Bank Specialist *What is Financial Equalization and how can it help you? * Victoria Grant Why is Variable better than Fixed? * Land * Single Family - RTO, Flips, Buy & Hold * Duplex, Triplex, Quad's * Multi-Family (1-4) & (5 +) * Small Buildings (5-50 Units) * Apartment Buildings * Commercial and Mixed-Use * Tax Sales REIT & MIC Investor Different Types of Investing: Lender -work for only the bank -not licensed -earns commission on all the products they sell you -only one lender - themselves! *Building your Team *Different lending criteria for different types of property investments *What documents you need? How to prepare? *Different types of funding and how to get it?

PayDay Lender

Transcript: BOOF PAID Presents "Cash in OUR Pockets" Public Awareness Campaign PayDay Lender Payment Due Our communities are fighting back Why do we care? design by Dóri Sirály for Prezi Catalyzing a Youth-Movement for Financial and Economic Justice Nothing can be done with out partnership! Thank you to our amazing partners: California Reinvestment Coalition, Center for Responsible Lending, Insight Center for Economic Development, Silicon Valley Community Foundation, MyPath, Nuestra Casa, Community Legal Services- East Palo Alto and California Friday Night Live Partnership. NO! Payday lending is a short-term loan These loans can be as much as $300! Most borrowers can't afford to pay it back There are over 2,100 payday loan stores across California What resources can help you? Save a little extra to your savings Borrow from loved ones Work out a credit payment plan Learn financial education (Mypath) South San Francisco Victory What are ? What can you do! It all started with... LATE Hi my name is Gabe and I'm living with a deep dark secret- Instead of turning to my family and friends for financial support I turned to payday lenders to avoid the stigma of shame, I could not let my family and friends know that I was struggling financially. Click to Play YLI PAID Lead Daly City Victory Do you think this is right? MyPath and YLI Launched the 1st School for Financial and Economic Justice (SFEJ) in San Mateo County in 2013 In 2014 the 2nd annual SFEJ was held in Fresno, CA 3rd annual SFEJ NOW! This is a story of our friend Gabe who was once caught in a vicious cycle of debt! Join a movement around whats being done. Advocate for alternative products at financial institutions Educate your friends and families around this issue Help collect stories and submit complaints to the CFPB website. PAST DUE

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