Ongoing loan – Ibook Linux http://www.ibooklinux.net/ Tue, 22 Nov 2022 18:35:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.ibooklinux.net/wp-content/uploads/2021/06/ibook-150x150.png Ongoing loan – Ibook Linux http://www.ibooklinux.net/ 32 32 How to Get the Best Mortgage in 2023 – Forbes Advisor https://www.ibooklinux.net/how-to-get-the-best-mortgage-in-2023-forbes-advisor/ Tue, 22 Nov 2022 18:15:21 +0000 https://www.ibooklinux.net/how-to-get-the-best-mortgage-in-2023-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Between record house prices, mortgage rates, rising inflation and recession fears, homebuyers have been tested this year. This has created more uncertainty heading into 2023 for many homebuyers looking for an affordable […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

Between record house prices, mortgage rates, rising inflation and recession fears, homebuyers have been tested this year. This has created more uncertainty heading into 2023 for many homebuyers looking for an affordable mortgage.

First-time homebuyers have felt the pressure in particular, as soaring home prices and mortgage rates have reduced their down payment and purchasing power.

As housing market conditions begin to improve, albeit very slowly, keeping a close eye on the mortgage market — and any government economic action — should be your top resolution for 2023 if you hope to land the best mortgage for you.

How inflation will affect mortgage rates in 2023

In its efforts to contain rising inflation, the Federal Reserve aggressively raised its benchmark federal funds rate throughout 2022. Although Fed rate hikes do not directly impact mortgage rates, they do affect the bond market, which directly impacts mortgage rates.

“Until the Federal Reserve deems runaway inflation to be under control, it will continue to aggressively raise the federal funds rate, which, in turn, will continue to drive up mortgage rates,” he said. Rick Sharga, executive vice president of business intelligence at ATTOM. leading real estate data curator.

Wells Fargo economist Charlie Dougherty expects the Fed to make more rate hikes in 2023. However, he says the increases will be less aggressive compared to 2022.

Nevertheless, Dougherty and other experts predict that mortgage rates will remain high, at least for the first few months of 2023.

“The economic consensus seems to be that there will be strong signs early next year that inflation is fading,” said Mark Fleming, chief economist at First American Financial Corp. But “all signs point to more upward pressure on mortgage rates than downward in early 2023.”

When will be the best time to get a mortgage in 2023?

With mortgage rates at record highs, house prices which have yet to normalize and uncertainty across the housing marketmany buyers pulled out of the market.

So, will 2023 be a better year to get a home loan?

When it comes to house prices, many housing experts say we’ll start to see more month-over-month declines next year.

“We now expect home prices to register year-over-year declines in 2023, with the national median price of existing single-family homes expected to fall 5.5% over the year,” Dougherty says. “That said, the long-standing supply shortfall and strong underlying demand will ultimately limit the extent of home price depreciation.”

However, home depreciation will not be uniform across the housing market. Rather, there will be regional variations, with previously white-hot markets seeing extreme downward swings relative to less popular markets, Dougherty says.

Keep in mind that home appreciation has skyrocketed abnormally in recent years. The average selling price of a home jumped 45% to $542,900 in the third quarter of this year compared to the second quarter of 2020, according to the St. Louis Fed.

When it comes to mortgage rates, some experts predict that the best case scenario for a 30-year fixed rate will be around 5.5% by the end of 2023. Others expect rates to remain in the 6.5% to 7.5% range throughout the year, Freddie Mac predicting an average of 6.4% in a recent forecast.

Related: Mortgage forecast for 2023

Advice for homebuyers in 2023

Given the ongoing fluctuations and uncertainties in the housing market, trying to figure out when to get a mortgage often requires more luck than skill. Real estate experts generally suggest buying the home that’s right for you and your needs – and staying there for at least five years – rather than timing the market.

Nonetheless, there are still steps you can take now that will put you in a stronger position when you’re ready to shop around for a mortgage.

“Take the time to research and understand the market,” says Ward Morrison, president and CEO of Motto Franchising, the Denver-based company behind Motto Mortgage. “Also be sure to research a variety of loan types.”

Here are other ways to be proactive:

  • Understand your credit score. See if there are ways to improve your credit score. If you can increase your score, it will help you get a lower mortgage rate, which means lower mortgage payments.
  • Meet the lenders. Getting to know the lenders and loans you potentially qualify for will put you in a stronger position once you’re ready to buy a home. Shop online, by phone or in person at a branch to find the best mortgage lender for you.
  • Review your financial situation. Look at your monthly debt payments against your usual income to determine a comfortable monthly payment amount so you know how much house you can afford. You may find that you have to broaden your search to places where house prices are lower.
  • Use a mortgage calculator. Once you have an idea of ​​the types of loans you qualify for, calculate your estimated monthly payments, enter your numbers into calculators such as a 30 Year Fixed Mortgage Calculator, 15 Year Fixed Mortgage Calculator, FHA Loan Calculator Where mortgage amortization calculator.
  • Manage your money. Use this time to save money on your down payment. The more you can invest in a home, the smaller the loan you’ll need and the less you’ll pay for a mortgage overall.

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Cameroon: The African Development Bank engages in dialogue with Cameroonian financial institutions to strengthen women entrepreneurs’ access to financing https://www.ibooklinux.net/cameroon-the-african-development-bank-engages-in-dialogue-with-cameroonian-financial-institutions-to-strengthen-women-entrepreneurs-access-to-financing/ Mon, 14 Nov 2022 09:36:03 +0000 https://www.ibooklinux.net/cameroon-the-african-development-bank-engages-in-dialogue-with-cameroonian-financial-institutions-to-strengthen-women-entrepreneurs-access-to-financing/ The African development bank (www.AfDB.org) Managing Director of central Africa, Serge N’Guessanled a delegation for a series of interviews with Cameroonian private sector actors, including women entrepreneurs, between 24 and September 30, 2022 in Douala. Professional associations and financial institutions that partner with them through the Affirmative Finance Action for Women in Africainitiative also took […]]]>

The African development bank (www.AfDB.org) Managing Director of central Africa, Serge N’Guessanled a delegation for a series of interviews with Cameroonian private sector actors, including women entrepreneurs, between 24 and September 30, 2022 in Douala.

Professional associations and financial institutions that partner with them through the Affirmative Finance Action for Women in Africainitiative also took part. The aim was to establish a constructive dialogue between women entrepreneurs and financial institutions in Cameroon to catalyze female entrepreneurship in the country.

AFAWA, a flagship initiative of the African development bankworks to strengthen access to finance for women entrepreneurs Africa to fill the $42 billion funding gap they face. The African development bank will mobilize up to $5 billion by 2025 to achieve this.

“It was a very good opportunity because these meetings allowed us to see the blockages that exist between the banks and us, women entrepreneurs”, declared Michèle Kepeden Lewat, General Manager of Business Trade Cameroon SARL. The trading company specializes in the distribution of personal protective equipment to manufacturers and other occupational safety solutions: gas detection and analysis, fire protection, lifting and handling, valves and actuators.

The delegation visited two AFAWA partners in Cameroon: PRO-PME Financement SA, a financial institution specializing in loans to small and medium-sized enterprises, and Ecobanka pan-African bank.

“Beyond guarantees, which are a major constraint for women entrepreneurs, there is a problem of securing funds and keeping financial records, which does not allow financial institutions like ours to properly assess creditworthiness. women entrepreneurs who approach us for a loan,” said Pierre Conrad Edzoa, CEO of PRO-SME Financing SA

For the Ecobank representing, from Cameroon emergence depends on women. The bank has launched a program called Ellevate, which helps women entrepreneurs move from the informal to the formal economy by offering them specific loans depending on the type of business and the conditions guaranteed.

“Before warranty, there is flexible pricing,” said Guy Martin Mbah, Head of Small and Medium Enterprises and Head of Branch Network at Ecobank Cameroon. He said the ordinary loan is normally granted on a 10% interest basis, but women entrepreneurs get a premium. For the application fee, which is usually 1% of the total loan amount, women pay only 0.5%.

“We came to facilitate dialogue between women entrepreneurs and financial institutions. But we are very happy to see that this dialogue already exists, although it is still discreet,” said Charleine Mbuyi-LusambaGender Officer at African development bank. She added that: “The discussions of the past few days have allowed us to embark on the path of a flexible and frank dialogue, capable of creating a real economic dynamic in Douala and in Cameroon. She also announced that a high-level AFAWA mission, led by Esther Marieme Dassanouhead of AFAWA, will soon visit Cameroon strengthen ongoing initiatives.

“We sincerely thank AFAWA because its action effectively targets our needs. We are going to organize ourselves more and equip women entrepreneurs, so that they are up to the position that AFAWA will bring later”, declared Alice Maguedjio, President of the Retailers Union of the department of Wouri, whose capital Douala is.

In CameroonAFAWA is a partner of three financial institutions across the African Guarantee Fund.

Distributed by APO Group behalf African Development Bank Group (ADB).

Media Contact:

Xiaomi Ollo HIEN

Department of Communication and External Relations

media@afdb.org

About African Development Bank Group:

The African Development Bank Group is the leading development finance institution in Africa. It comprises three distinct entities: the African development bank (ADB), the African Development Fund (ADF) and the Nigeria Trust Fund (FNT). Represented in 41 African countries, with a field office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member states. For more information: www.AfDB.org

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What a Senior Should Consider Getting a Reverse Mortgage in the 2022 Economy https://www.ibooklinux.net/what-a-senior-should-consider-getting-a-reverse-mortgage-in-the-2022-economy/ Fri, 11 Nov 2022 21:26:46 +0000 https://www.ibooklinux.net/what-a-senior-should-consider-getting-a-reverse-mortgage-in-the-2022-economy/ A reverse mortgage – specifically a home equity conversion mortgage (HECM) – is often seen as a method for seniors to tap into the equity they have accumulated in their home to provide cash flow. additional. But some older homeowners might be rethinking the prospect of the loan given the current economic climate, according to […]]]>

A reverse mortgage – specifically a home equity conversion mortgage (HECM) – is often seen as a method for seniors to tap into the equity they have accumulated in their home to provide cash flow. additional. But some older homeowners might be rethinking the prospect of the loan given the current economic climate, according to Brian Kline, real estate investor and financial columnist, in a new RealtyBizNews.com article.

“With rising interest rates, soaring inflation and a potential recession on the horizon, many senior homeowners are apprehensive about the current economic landscape,” he wrote. “With the Federal Reserve repeatedly raising interest rates, some reverse mortgages are approaching the 8.5-9% range, with further Federal Reserve interest hikes likely. This presents a huge dilemma for people considering a reverse mortgage.

Indeed, higher rates may have caused some reverse mortgage prospects to miss an opportunity to secure a low-cost loan. However, some seniors may still be considering a reverse mortgage to try to take advantage of current rates before they go up, he says. Maturity events must also be taken into account, he explains.

“When the homeowner sells the property, moves out, dies, or in some cases defaults on property taxes and other expenses, the reverse mortgage balance becomes due in full,” he says. “This includes the principal amount borrowed as well as accrued interest and charges. Although you don’t make monthly payments on the loan, interest accrues, which means your outstanding balance grows each month. This means that the higher the interest rate, the more the outstanding balance will increase each month.

Since reverse mortgages are fixed or variable rate, changes in Fed interest rates have the ability to inform the benchmark interest rate from which variable rate reverse mortgages operate, says -he.

“Choosing a fixed rate HECM provides predictability of the amount of interest that will accrue on the balance,” he says. “However, these typically required you to take the funds as a lump sum.”

Borrowers should also keep in mind a series of common expenses for a reverse mortgage, he explains, because the loss of a monthly mortgage payment does not diminish the need to meet other related expenses to maintain the loan in good standing. These include interest, the annual mortgage insurance premium, property charges such as taxes, and various forms of insurance and management fees.

“The higher your loan balance and the longer you hold onto your loan, the more ongoing fees you’ll be charged,” he says. “The best way to keep your ongoing costs low is to borrow only what you need.”

Read it column at Realty Biz News.

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Alto announces its intention to further diversify its activities https://www.ibooklinux.net/alto-announces-its-intention-to-further-diversify-its-activities/ Wed, 09 Nov 2022 01:06:48 +0000 https://www.ibooklinux.net/alto-announces-its-intention-to-further-diversify-its-activities/ On November 7, Alto Ingredients Inc. released its third quarter financial results and announced that it had entered into a $125 million senior secured term loan facility that will support efforts to complete upgrades strategic, including those related to corn oil, protein and yeast production, renewable natural products natural gas (RNG) and carbon capture and […]]]>

On November 7, Alto Ingredients Inc. released its third quarter financial results and announced that it had entered into a $125 million senior secured term loan facility that will support efforts to complete upgrades strategic, including those related to corn oil, protein and yeast production, renewable natural products natural gas (RNG) and carbon capture and storage (CCS) opportunities

Alto Ingredients CEO Mike Kandris discussed the loan during the company’s third quarter earnings call, noting that it will help accelerate Alto’s diversification growth strategies, help significantly to the company’s turnover and net income and will further insulate it from fluctuations in raw materials and margins. He said the funding circumvents the need to rely solely on organic cash flow, facilitating the timely completion of capital projects that are of a scale, scope and cost. -significant benefits for all stakeholders by creating a more stable business. With capital resources bolstered, Kandris said the company plans to undertake these key projects simultaneously.

According to Kandris, Alto plans to add new natural gas and RNG pipelines to connect directly to nearby major hubs. He said the project will increase the company’s access to more competitive natural gas, better meet future energy needs, including supporting carbon capture, and improve Alto’s ability to monetize RNG than the company currently produces and burns. Kandris said the natural gas/RNG project is in the design and licensing phase and is expected to be completed in 2024.

Citing the company’s 24 years as a trusted supplier to the pet food industry, Kandris also announced plans to expand into commercial yeast production through an aerobic fermentation process in its wet grinder. “Although primary yeast production has a different process and market, many existing and potential customers have expressed interest in this product for years,” he said.

The $125 million in funding will also support CCS implementation efforts. Kandris said Alto is currently working with “various parties to finalize the best option for Alto’s carbon sequestration future,” adding that the company is finalizing the selection of its front-end engineering and design partner and its carbon transport pipeline and sequestration developer.

Regarding third-quarter operations, Kandris called the three-month period “challenging” and said Alto’s results were negatively impacted by low margins, high corn prices, logistical constraints and shutdown for maintenance of its ICP installation. He also discussed the status of ongoing improvement projects. He said the first phase of the CoPromax system installation at the company’s Idaho plant was complete, with corn oil production meeting expectations. Given the positive results at the Idaho plant, Kandris said Alto plans to proceed with a similar installation at its other dry plants. The second phase of the CoPromax facility at the Idaho plant will improve protein production. This facility is expected to be completed in the first quarter of 2023.

Kandris also reported that construction is underway on the Illinois Corn Storage Expansion Project, with the project expected to be completed before the end of the year. The project will double the maize storage capacity at the site, helping to reduce the volatility of production input costs. In addition, Alto is modernizing equipment related to its specialty alcohol production and has replaced two boilers at its Beijing campus.

Alto produced 74.7 million gallons of ethanol during the third quarter, compared to 60.6 million gallons produced during the same period last year. Capacity utilization was 85%, down from 59%.

Gallons of fuel ethanol sold reached 53 million in the third quarter, compared to 38.3 million gallons reported for the same quarter of 2021. Gallons of specialty alcohol sold reached 23.3 million, compared to 19 .87 million, with gallons of third-party renewable fuel sold at 27.6 million, down from 67.2 million.

Net sales for the third quarter were $336.9 million, compared to $305.6 million in the third quarter last year. Gross loss was $356.7 million, down from $3.4 million. Net loss available to common shareholders was $28.4 million, or 39 cents per share, compared to $3.5 million, or 5 cents per share.

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New construction while renovations bloom https://www.ibooklinux.net/new-construction-while-renovations-bloom/ Sat, 05 Nov 2022 21:00:20 +0000 https://www.ibooklinux.net/new-construction-while-renovations-bloom/ John Paul said the wait for hardwood for decking has become long. By Trish Bowman Wednesday’s release of the latest construction approvals and loan figures by the Australian Bureau of Statistics (ABS) shows signs of a continued decline in construction activity according to Master Builders Australia, but renovations are on the rise. John Paul Constructions […]]]>

John Paul said the wait for hardwood for decking has become long.

By Trish Bowman

Wednesday’s release of the latest construction approvals and loan figures by the Australian Bureau of Statistics (ABS) shows signs of a continued decline in construction activity according to Master Builders Australia, but renovations are on the rise.

John Paul Constructions has confirmed Central Queensland is also following the pattern of fewer new build applications as calls for renovations soar.

“New build inquiries have definitely gone down over the past two months,” Paul said.

“Part of the problem is the current cost of materials and the waiting time for those materials to arrive. Hardwood for decking, for example, can take two to three months to arrive. There is also a large order book for frames and trusses.

“It’s a new concept for a lot of people because before COVID we had much better access to materials.

“We have been assured that access to construction materials will improve by next year and we have already seen a slight improvement.”

Mr Paul said the call for renovations had certainly improved, but most people were struggling to find tradespeople to do the work.

“We’ve been hammered with enquiries, particularly for decking and bathrooms, but like most builders in the area right now, we’re already nearly full for the next 12 months.

“I have a lot of people calling me and when I explain the situation and suggest people call, they inevitably call back and say they couldn’t find anyone to do the job.”

Master Builders CEO Denita Wawn said loan numbers fell again in September for both homeowners and property investors.

“This coincides with weaker building approvals which fell 5.8% from August,” Wawn said.

“Australia’s building and construction industry is one of the most sensitive parts of the economy to rising interest rates and the September figures underscore the delicate state of the new homebuilding market. .”

Construction approvals for single-detached homes saw a much steeper drop of 7.8% compared to medium/high density housing across the country.

In previous months, there had been signs that new construction approvals for single-family homes had leveled off.

Despite the sharp increases in interest rates, the average loan size is still higher than a year ago for most categories.

Loans for major home renovations are still much higher for homeowners and real estate investors, at 13.6% and 12.4%, respectively.

Mr Wawn said there had been a surge in approvals for apartments in high-rise buildings of nine floors and above.

“The array of high-rise building reinforcement may be related to the anticipated resumption of migration to major cities,” he said.

“The building and construction industry continues to be impacted by product cost pressures and shortages of tradespeople.

“Any significant change in government policy, such as the government’s proposed industrial relations legislation, must be carefully considered in this context.”

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Live Oak Bancshares: Exciting Model, But Short-Term Risks (NASDAQ: LOB) https://www.ibooklinux.net/live-oak-bancshares-exciting-model-but-short-term-risks-nasdaq-lob/ Wed, 02 Nov 2022 22:20:12 +0000 https://www.ibooklinux.net/live-oak-bancshares-exciting-model-but-short-term-risks-nasdaq-lob/ Michael Butrovich/iStock via Getty Images There’s a lot to love Live Oak Bancshares (NASDAQ:LOB) long-term. Banks with highly tactile service models and differentiated lending specialties typically do better than average, and Live Oak’s adoption of technology-enabled banking could be a major differentiator over time. In the short term, however, I’m concerned about owning a liability-sensitive […]]]>

Michael Butrovich/iStock via Getty Images

There’s a lot to love Live Oak Bancshares (NASDAQ:LOB) long-term. Banks with highly tactile service models and differentiated lending specialties typically do better than average, and Live Oak’s adoption of technology-enabled banking could be a major differentiator over time. In the short term, however, I’m concerned about owning a liability-sensitive bank during a period of Fed tightening, let alone a heavily leveraged bank for small business lending when the economy cools.

The valuation is interesting. My long-term discounted cash flow model suggests double-digit long-term annualized total return potential, but approaches based on short-term multiples (P/TBV and ROTCE-based P/E) are much less accommodating. , with the shares trading at a premium during a time when many other growth banks (is West (EWBC), Signature Bank (SBNY), and SVB Financial (SIVB) among others) are trading at high single-digit forward P/Es.

A provision-focused Miss, with strong pre-provision results

Live Oak’s reported basic earnings per share were weaker than expected (by about $0.03/share) in a quarter when most smaller banks beat expectations, but results were significantly lower. better at the pre-provisioning level, and given Live Oak’s historical credit quality, I’m not concerned about higher provisioning (especially given strong loan growth).

Revenue increased 12% year over year and 11% quarter over quarter on a basic adjusted basis. Net interest income rose 26% year-on-year and 5% quarter-on-quarter, beating expectations by about 1%, or $0.015/share. Net interest margin declined 15bps yoy and 5bps qq to 3.84%, about 10bps better than expected, while earning assets increased 5% qoq. Adjusted net interest income was up 32% quarter-on-quarter, outpacing 24% and driving up approximately $0.11/share.

Operating expenses were up 30% YoY and 6% and were a little higher than expected, but still beat based on the efficiency ratio (65.7% vs. 69.2 %). Earnings before provision fell 12% and rose 21% quarter-on-quarter, beating nearly 20% to $0.12/share. The provisioning took $0.20/share off earnings versus expectations, but Live Oak also saw a much lower tax rate in the quarter.

Healthy loan demand… but cost of funds is a key element to watch

Live Oak again saw strong loan growth, with end-of-period adjusted loans up 23% year-on-year and 18% quarter-on-quarter, driven by strong demand for small business C&I and loans real estate. Originations increased 5% sequentially ($1 billion vs. $6.8 billion in net lending at period end), while yield improved 62 bps yoy and 45 bps yoy quarterly at 5.91% on a basic basis. Almost half (48%) of the loans granted were SBA loans.

Deposits grew 23% yoy and 3% yoy, with non-interest bearing deposits increasing 121% yoy and 43% yoy. The cost of interest-bearing deposits increased by 57 bps to 1.55%, while the total cost of deposits increased by 57 bps to 1.53%.

Live Oak does not operate a traditional branch structure and collects deposits via the Internet. Non-interest bearing deposits make up an insignificant share of total deposits, and Live Oak has to compete aggressively for deposits – while some banks pay more for CDs (Allied Financial (ALLY) and Capital one (COF) among them), Live Oak is right up there at 3.75% on year-to-date CDs.

This is my biggest short-term concern with Live Oak. In the absence of a basic deposit allowance, Live Oak is liability-sensitive, meaning its net interest margin is expected to decline as interest rates rise. The bank has outperformed this quarter, and management has headed towards the top of its NIM range for Q4, but I’ve been pretty consistent in forecasting higher than expected deposit betas for this cycle, and I think Live Oak might have some vulnerability here.

I’m also a bit concerned about the short term for lending. Live Oak has built its business around small business lending to niche verticals through a high-touch model, but I’m concerned about the risk of weaker loan demand over the next 12-18 months, so as businesses face higher rates and greater uncertainty about the economy.

To be very clear, however, this is a short-term concern. Longer term, I think small business lending is an attractive market for Live Oak because many large banks don’t handle small business customers particularly well and smaller banks struggle to compete on quality of service . I love the company’s high-touch model (a model used successfully by companies like First Republic (FRC) and Summit (PNFP)), as well as the company’s ongoing efforts to develop technology-enabled banking services, including integrating banking functionality into ERP software packages used in its targeted specialty verticals.

Perspectives

I’m not worried about credit quality here. More than 40% of the bank’s loans are guaranteed by government organizations such as the SBA, and since 2012 the bank has accumulated a total of $56 million in net write-offs against $19.6 billion in loans. In this context, I think the bank’s 1.2% reserve position is good, and I’m not concerned about credit quality or capital adequacy here.

As the bank grows, it is likely to exceed what SBA loans can provide, but by building these specialized verticals, the bank should be well positioned to expand without too much trouble into C&I loans and more conventional CREs. Also, I think tech-enabled banking is going to become the norm, and that’s going to make life difficult for smaller banks that don’t have Live Oak’s understanding of fintech and the capabilities it’s gained through fintech partnerships.

I expect double-digit growth in long-term core earnings from Live Oak, and managing that growth will create challenges for the bank, but I’m also using a higher discount rate here than I’m would do it for First Republic or a more conventional bank like PNC Financial (ANC).

The essential

Shares of Live Oak have significantly underperformed over the past year as the market bails out both growth and liability-sensitive names. Even with this underperformance, however, the valuation call is complicated. If my long-term core earnings model is correct and Live Oak can deliver double-digit long-term core earnings growth and low double-digit ROE, these stocks should generate an attractive long-term annualized return. in mid-adolescence. . On the other hand, accurately modeling interest rates beyond a year or two is exceptionally difficult, let alone other bank income items.

Short-term approaches are not so accommodating. Short-term ROTCE in the 12%-13% range only gets me to the current stock price on a P/TBV basis, and although a forward P/E of 13x on my estimate FY23 EPS is not bad relative to growth, many growth banks are now trading at single-digit forward P/Es. I could argue that Live Oak should be trading closer to $40, but sentiment for banks is weak now, and it’s harder to make the case for a premium for a liability-sensitive small business lender in a cycle of tightening.

Investors willing to accept and look past the short-term risks that Live Oak’s spread income could underperform on higher-than-expected filing costs and sentiment could worsen further might like what they find here. At a minimum, I think it’s a name to keep on a watchlist, but I think it may be early to establish a full position.

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Northam Receives Ratings Upgrade from GCR and Extends Loan Maturities https://www.ibooklinux.net/northam-receives-ratings-upgrade-from-gcr-and-extends-loan-maturities/ Mon, 31 Oct 2022 14:18:00 +0000 https://www.ibooklinux.net/northam-receives-ratings-upgrade-from-gcr-and-extends-loan-maturities/ Credit rating agency Global Credit Rating (GCR) Company has upgraded JSE-listed Northam Platinum’s long-term credit rating from A+ to A+, and reaffirmed its short-term credit rating at A1, with a stable outlook. GCR attributes the improved rating to its improved liquidity position and significant financial flexibility, as well as the expectation that the group will […]]]>

Credit rating agency Global Credit Rating (GCR) Company has upgraded JSE-listed Northam Platinum’s long-term credit rating from A+ to A+, and reaffirmed its short-term credit rating at A1, with a stable outlook.

GCR attributes the improved rating to its improved liquidity position and significant financial flexibility, as well as the expectation that the group will continue to deliver strong operating performance under various price scenarios.

The agency says Northam continues to maintain high levels of profitability, which stem from the continued ramp-up of production and high-quality, cost-competitive assets.

Meanwhile, Northam announced that it has reached agreements for its five-year, R4 billion revolving credit facility, maturing in September 2024, to be refinanced and increased on more favorable terms.

The new five-year R5.7 billion facility will mature in August 2027.

In addition, the company has put in place a R3 billion bridge facility, which would have matured in December, as well as a new five-year term loan facility of R2.4 billion, which is also due. maturing in August 2027.

The facilities, together with Northam’s existing R1 billion general bank facilities, place the company’s available bank facilities at R9.15 billion.

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CAT Corporate Strategic Funding Update https://www.ibooklinux.net/cat-corporate-strategic-funding-update/ Fri, 28 Oct 2022 22:03:22 +0000 https://www.ibooklinux.net/cat-corporate-strategic-funding-update/ Enter Wall Street with StreetInsider Premium. Claim your one week free trial here. VANCOUVER, BC /ACCESSWIRE/October 28, 2022/ CAT Strategic Metals Corporation (CSE: CAT, OTC PINK: CATTF, FRA: 8CH) (“CAT“or the”Company“) announces its intention to complete a non-brokered private placement through the issuance of 20,000,000 units at a price of $0.03 per unit (the “Private […]]]>

Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.


VANCOUVER, BC /ACCESSWIRE/October 28, 2022/ CAT Strategic Metals Corporation (CSE: CAT, OTC PINK: CATTF, FRA: 8CH) (“CAT“or the”Company“) announces its intention to complete a non-brokered private placement through the issuance of 20,000,000 units at a price of $0.03 per unit (the “Private placement“). Each unit consists of one (1) common share (each a “Ordinary share“or the”Ordinary actions“) and one (1) common share purchase warrant (each a “To guarantee“), while each warrant entitles the lender to purchase one additional share of common stock (a “Warrant action“) at an exercise price of $0.05 per warrant share for a period of 36 months following the exercise date of the warrant. The Company intends to use the proceeds of the private placement for exploration expenses and general working capital.

All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day in accordance with applicable securities legislation. The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States. United States or to, or on behalf of or for the benefit of U.S. persons absent from registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Company also announces that it has entered into a senior secured loan agreement (the “Loan agreement“) with an arm’s length private lender for an aggregate principal amount of up to C$600,000 (the “Principal loan amountThe loan bears interest at 8% per annum compounded and calculated monthly, to accrue quarterly, before and after default; said interest being accrued quarterly to be paid in a single lump sum payment to be added to the principal at 18 months from the date hereof of the Loan (the “Due datePrior to the Maturity Date, the Lender has the right to convert all, but not less than $50,000, of the Principal Loan Amount and interest, in whole or in part, into Units of the Company (each a “Unity“or the”Units“) at a price of $0.05 per unit.

Each unit consists of one (1) common share (each a “Ordinary share“or the”Ordinary actions“) and one (1) common share purchase warrant (each a “To guarantee“), while each warrant entitles the lender to purchase one additional share of common stock (a “Warrant action“) at an exercise price of $0.05 per warrant share for a period of 36 months following the date of exercise of the warrant.

The General Security Agreement provides the Private Lender with a charge on all assets of the Company as general and continuing collateral security for the payment and performance of required obligations, subject to customary encumbrances permitted. The Company intends to use the principal loan amount for pending and future corporate actions and general working capital.

About CAT Strategic Metals Corporation (CAT)

CAT Strategic Metals’ corporate strategy, as reflected in its overall mission statement, is to seek, identify, acquire and advance real estate interests located in mining districts with proven world-class potential, primarily for uranium, lithium, gold and copper. In addition to the priority South Preston uranium project, CAT is focused on advancing the Burntland project located in New Brunswick, Canada; the Gold Jackpot strategic metals property located NE of Elko, Nevada, USA; and the Kamativi Lithium Project in Matabeleland North Province, Zimbabwe Africa. CAT’s shares trade on the Canadian Securities Exchange (CSE) under the symbol “CAT”, on the OTC under the symbol CATTF and on the Frankfurt Stock Exchange under the symbol “8CH”.

ON BEHALF OF COUNCIL

Robert Rosner
Chairman, President and CEO

Further information regarding the Company is available on SEDAR at www.SEDAR.comby visiting the Company’s website www.catstrategic.com or by contacting the Company directly at (604) 674-3145.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

We are looking for a safe harbor.

THE SOURCE: CAT Strategic Metals Corporation

See the source version on accesswire.com:
https://www.accesswire.com/722958/CAT-Strategic-Corporate-Financing-Update

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It’s as you’d expect with rates in the 7 https://www.ibooklinux.net/its-as-youd-expect-with-rates-in-the-7/ Wed, 26 Oct 2022 13:41:35 +0000 https://www.ibooklinux.net/its-as-youd-expect-with-rates-in-the-7/ There was a slight increase in refinances in the week ended October 21, but overall mortgage applications fell for the fifth week in a row. The Mortgage Bankers Association (MBA) said its Composite Market Index, a measure of mortgage application volume, was down 1.7% on a seasonally adjusted basis from the previous week and down […]]]>

There was a slight increase in refinances in the week ended October 21, but overall mortgage applications fell for the fifth week in a row. The Mortgage Bankers Association (MBA) said its Composite Market Index, a measure of mortgage application volume, was down 1.7% on a seasonally adjusted basis from the previous week and down 2% on an unadjusted base.

The seasonally adjusted purchases index fell another 2% and was 3% before adjustment. This put the volume of purchase requests 42% below its level at the same time in 2021.

The refinancing index rose 0.1% week over week and was 86% lower than the same week a year ago. The share of refinancing requests for the week reached 28.8% against 28.3% the previous week.

“Mortgage rates rose for the 10th consecutive week, with the 30-year fixed rate hitting 7.16%, the highest rate since 2001. The continued upward trend in mortgage rates continues to depress mortgage demand activity. mortgage lending, which remained at its slowest pace since 1997,” said Joel Kan, vice president and deputy chief economist at MBA. “Refinance applications remained essentially flat, but purchase applications declined 2% at the slowest pace since 2015 – more than 40% behind last year’s pace. Despite higher rates and lower overall demand activity, there was an uptick in FHA purchase inquiries as FHA rates remained lower than conventional loan rates.

MBA’s economic forecast for the year ahead was released earlier this week and Kan referenced his prediction that weak economy and housing market in 2023 “will lead to a 3% drop in purchases , while the volume of refinancing is expected to decline by 24%”.

Other highlights from the weekly MBA Mortgage Application Survey:

  • The size of mortgages increased from an average of $366,000 to $362,900. The size of purchase loans was essentially unchanged at $402,400, but that average was down about $60,000 from its all-time high in March.
  • FHA’s share of total claims fell from 13.6% to 13.9%, while VA and USDA’s shares remained unchanged from the previous week at 10.7% and 0.5%, respectively.
  • The average contract rate for the week of 7.16% for 30-year conforming fixed rate mortgages (FRMs) was up from 6.94% the previous week. Points have been reduced to 0.88 from 0.95.
  • The average contract interest rate for the 30-year jumbo FRM was 6.53%, down from 6.31%, with points dropping from 0.67 to 0.68.
  • The thirty-year FRM with FHA support had an average rate of 6.79% with 1.59 points. The previous week, the rate was 6.63% with 1.60 points.
  • The 15-year FRM rate rose 30 basis points to 6.39%. Points went from 1.18 to 1.52.
  • The average rate for 5/1 variable rate mortgages (ARMs) increased from 5.65% to 5.86%. with points decreasing from 0.90 to 0.88.
  • ARM’s share of business decreased week over week, from 12.8% to 12.7%.

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Pakistan only received $2.234 billion in loans from international lenders in the first quarter https://www.ibooklinux.net/pakistan-only-received-2-234-billion-in-loans-from-international-lenders-in-the-first-quarter/ Sat, 22 Oct 2022 22:09:06 +0000 https://www.ibooklinux.net/pakistan-only-received-2-234-billion-in-loans-from-international-lenders-in-the-first-quarter/ ISLAMABAD-Pakistan received just $2.234 billion in loans from international lenders in the first quarter (July to September) of the current fiscal year amid dwindling foreign exchange reserves. Despite the revival of the IMF lending program, Pakistan has not received major financing from bilateral and multilateral sources in the first quarter (July to September) of the […]]]>

ISLAMABAD-Pakistan received just $2.234 billion in loans from international lenders in the first quarter (July to September) of the current fiscal year amid dwindling foreign exchange reserves.

Despite the revival of the IMF lending program, Pakistan has not received major financing from bilateral and multilateral sources in the first quarter (July to September) of the current financial year. Ahead of the IMF board meeting (August 29), it was felt that the revival of the IMF program would pave the way for securing loans from other international creditors. However, the country has not yet received significant financing from international lenders, which translates into a reduction in foreign exchange reserves.

The country has drawn $1.166 billion from the International Monetary Fund (IMF), $682.3 million from multilateral sources and $386 million from bilateral sources, bringing total loan disbursement to $2.234 billion from July to September FY23. The country did not receive any loans from foreign commercial banks during the first quarter of the current financial year (2022-23). The government had received a loan of $3.204 billion during the same period of the previous year. According to the latest data from the Ministry of Economic Affairs, the government received only $625.85 million in external loans in September 2022.

Meanwhile, international lenders had pledged to lend to Pakistan, which would bolster the country’s foreign exchange reserves. The Asian Development Bank (AfDB) has approved much-needed financing of $1.5 billion to help the Pakistani government, which would bolster the country’s foreign exchange reserves and improve the value of the local currency. The country would receive $1.5 billion next week. Approval of the AfDB loan would also pave the way for securing $500 million from the Asian Infrastructure Investment Bank (AIIB). The total disbursement will hit $2 billion in the current month.

The influx would help build up the country’s foreign exchange reserves, which had been dwindling. Reserves at the State Bank of Pakistan (SBP) as of last week had fallen by $303 million to $7,596.9 million. This decrease was entirely attributed to external debt repayments, which included the repayment of a commercial loan and the payment of interest on Eurobonds. The total liquid foreign exchange reserves held by the country stood at $13.246 billion. The foreign exchange reserves held by the SBP amount to 7.596 billion dollars and the net foreign exchange reserves held by commercial banks to 5.649 billion dollars. Pakistan is also expecting $1-2 billion from the World Bank. The government has budgeted foreign aid of $22.8 billion for the current fiscal year, including $7.5 billion from foreign commercial banks, $22.655 billion in loans and $161.46 million in grants.

China shelled out $54.93 million in the first quarter compared to the government’s budget estimate of $49.02 million for the current fiscal year. Saudi Arabia disbursed $300 million of the $800 million budgeted. The United States disbursed $9.95 million during the period under review compared to the $32.49 million budgeted for the current fiscal year. Korea shelled out $15.65 million and France $4.44 million in the first quarter of the current fiscal year.

The Asian Development Bank (AfDB) has disbursed $112.73 million out of the $3.202 billion budgeted for the current fiscal year. IDA disbursed $416.49 million of the budgeted $1.4 billion, IBRD disbursed $28.90 million of the budgeted $1.246 billion and the Islamic Development Bank disbursed $11.50 million of the $3.38 million budgeted for the current fiscal year.

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