The origination costs of personal loans

Posted by & filed under Personal Loans.

All loans have 3 components: loan origination, loan servicing, and investing in the loan. Sometimes the lender wears all 3 hats; originating, servicing and funding the loan. Thats not always the case, as many mortgage borrowers have learned when their servicing is sold to another firm. Its not a charity, its a business Loan origination […]

Payday lending limits win Waco council support, 5-1

Posted by & filed under Payday Loans.

District 3 Councilman John Kinnaird was the lone dissenter, saying the city should instead focus its efforts on lobbying for state regulation of payday lending. Pastors, bankers, professors, nonprofit group leaders and others involved in a local group called Citizens for Responsible Lending have been pushing the council to pass the ordinance to protect low-income […]

Quicken Loans Sister Company RocketLoans Poised to Revolutionize the Personal Lending Space

Posted by & filed under Personal Loans.

We recently shared how excited we are about Rocket Mortgage, the first fully online way to apply, receive approval and lock interest rates for home loans. Now, we’re extending a warm welcome to the newest member of the Quicken Loans Family of Companies! Our parent company, Rock Holdings, Inc., has launched RocketLoans, an efficient way […]

Support effort to regulate payday loans

Posted by & filed under Payday Loans.

I hope that the Legislature will support efforts to regulate payday loans. LB1036 would still make payday loans available, but limit how much lenders are allowed to profit from families in difficult circumstances. It would also ensure that more of this money stays in the pockets of local working families and in our community. Senator […]

Valdez: Payday loan redux lost the first round

Posted by & filed under Payday Loans.

Predatory loans lost the first round at the Legislature. But don’t count ’em out. Not yet. And apparently you shouldn’t call them “predatory,” either. Sen. John Kavanagh says loans that result in triple-digit interest rates are not predatory. “Thats a spin word,” he told the Senate Finance Committee Wednesday. Fortunately, the committee rejected Kavanaghs spin. It voted against […]