The Secret Database Blacklisting Borrowers

There are around 640,000 people who are listed on a scheme database making it hard for them to apply and be approved for any form of secured loans or mortgage. This database is a fraud prevention register that is owned by banks and building societies that blocks borrower from securing loans and mortgages regardless if they are aware or not that they are among the thousands of people in the said database. The National Hunter database was established by some lenders in the year 1993. The main concern of this organization is to prevent fraud. The lender who has any concern on the application of their customer can register them on the said database. These lists could be viewed by over 50 member organization.

Secured loans

At present, there are about 640,000 entries that are listed in the database. What is upsetting is that the companies are not required to inform their customers when they are being listed. Those who are listed will remain in the database for six years. But unlike other credit history reference agencies, this doesn’t contain details about scoring records, copies of County Court Judgement, electoral roll information and other credit histories like guarantor loans and the likes.

Those borrowers that have been flagged on the list will find it very impossible to secure any kind of mortgages like those of secured loans. If customers ask to check if they are among the block listed, the National Hunter will allow them to see the list for £10 fee. But the thing is, they will not offer any dispute facility, those unhappy customers will be referred back again to their lender and it is up to the lenders decision if there will be any reconsideration or not.

Alex Helmore, One Telegraph reader found that he was unable to secure a mortgage after he has been listed by Accord Mortgages in the database. Mr. Helmore works at a boarding school and he also stays in the site. He decided to buy a home and leave the school’s ground. He and his wife has found a perfect place to move in which is near his working place and made an offer to the seller which the latter accepted. The property needs some renovation so they plan to do so before transferring in the place.

Mr Helmore applied for loan with accord which is a part of the Yorkshire Building Society group. Helmore’s application was accepted and the examinations were carried out with a completion date which is set last September. However, the company withdrew the offer after the solicitor of Mr. Helmore check whether the loan was buy-to-let mortgage or a residential. This concerns the agency about the real plan of Helmore because most of the residential mortgages don’t allow let property.

Mr Helmore together with his solicitor made a letter to Accord for confirmation that the latter really plans to live in house but the lender refuse to consider the offer. Due to this, Holmes applied to other company but was also experience the same issue. Later through deep digging they learn that he was listed in the fraud database of the National Hunter by Accord Company as a “hidden buy-to-let customer”. Because of this, it is hard for the latter to secure any kind of loan. On the later part, reviews has been made and decided to remove his name from the database completely.

According to the spokesman of Yorkshire Building Society “As a responsible mutual organization, we have a duty to ensure that members’ money is lent in a secure and sustainable way, without exposing the Society to avoidable risk. We therefore take any inconsistencies in mortgage applications seriously and we only lend to borrowers when we are certain that their intentions are as stated on their mortgage application.”

Barry Brennan, the managing director of National Hunter said that it is not up to the register to make decisions regarding the validity of a customer’s entries. He said, “The data is owned by the members,” he said. “We don’t have the ability to change the data in any way. We simply carry out an administrative function.”

Students: Avoid Short-Term Loans

A payday loan company in the UK posted testimonials of their customers, saying they love them for providing a solution to their problems. These customers are unaware they will be charged of 782% interest rate each year. One of the payday lenders offering services to students is the Smart Pig; this lending company together with other companies were already reported to the Advertising Standards Agency for highlighting prizes everytime a customer borrows from them. They even include the opportunity of winning a term’s rent just to encourage borrowers.

Today, the payday lenders have expanded their targeted borrowers and this includes undergraduates or students, the number of borrowers within this bracket is already alarming. Last year, according to the National Union of Students, about 2% of the undergraduates have resorted to payday lending. This percentage may not sound a lot but if this will be equated to figures, this would total to 46,000 students risking the credit services of payday loans. This must be looked into by the payday lenders as they have social responsibilities too. One of the companies that have been transparent of the responsibilities of the borrowers when they fail to pay on time is payday loans by Uncle Buck. Part of their responsible lending practices is helping the borrower to try other organizations if their solution is not fitting. This means that students or undergraduates are part of the population that should not avail of the payday loans since they cannot cope up with the payment schemes. (more…)

Taulia Hires Thorbecke as CFO

Quick on raising a $40 million Series D round of funding, electronic invoicing and supply chain financing startup Taulia has now hired a Chief Finance Officer. Recently, the company announced that the former Meltwater Group CFO Rik Thorbecke will handle all the financial, legal, HR, and accounting aspects of their operations. They also announced their plans of expanding overseas.

Taulia provides a platform that will track all invoices, quick quid promo codes, and payments that are made out to their suppliers. They are targeting Fortune 500 customers primarily because they help them automate the invoicing process and payments which lowers their costs. For suppliers, on the other hand, the platform will help them get paid faster through the short term supply of financing based on approved invoices.

As invoices follow other business processes into the market, it will quickly attract other customers. As it is being ramped up, the company has hired Thorbecke for the improvement of its own internal finance and HR procedures.

Throbecke has spent the past 25 years in varying finance and strategy positions in several well-known companies. He was also employed as CFO and Chief Strategy Officer of Plastic Logic and in VP position of Levi Straus and Electronic Arts in the mid-2000s. Before going to Silicon Valley, he spent more than 17 years at the PricewaterhouseCoopers in Netherlands, where he was a partner.

Utahns: Consumer Control Should Be Stronger

In a poll conducted, most Utahns want to have a stronger consumer control of the payday loan industry. In the previous years, payday loans have been a big issue every time there is a general legislative session. On January 26, 2015, the lawmakers convened it as the general session tackling about the regulation of the payday loan. The issue is not new but until now, the industry is not yet regulated. The payday loan interest reaches over 400% each year and in Utah, it is relatively unregulated and the lenders were close to the heart of the former AG John Swallow. The lenders donated to be used as campaign funds for Swallow.

Pollster Dan Jones including his Associates found out in the recent state-wide survey that 57% of the registered voters strongly agree with the idea of limiting the amount of the loan each person should borrow in payday loans. On the other hand, 37% do not agree with the limit. The poll had 609 respondents with a margin error of 3.97%.

In most payday loans the amount allowed for first-time borrowers is only $100-$500 including the online payday loans. Try to visit loans, they only offer small amounts to their borrowers to be paid on their next payday. When their customers create a good credit standing, they will be eligible to higher loanable amount even after the first loan. (more…)

Housing Market is Expected to Have Solid Performance

The real estate property market is deemed to show another reasonably solid performance in this year, according to property analyst Jacques du Toit at Absa Home Loans.

“Nominal middle-segment growth of price around 8% is predicted, which will turn into real cost growth of over 3% this year, according on the estimated consumer rate inflation of 4.5%, which is in rank with real price hike of the last two years.”

The average amount of middle-segment houses among residential property market in South Africa has shown fairly strong growth for the last two years until the end of 2014, based on the newest Absa House Price Index.

The Absa home rate indices depend on the applications for mortgage finance which the back received and approved in due respect of the middle-segment large, medium-sized and small houses.

“Nominal price hike came to 10 percent in the year 201 following relatively weak growth in the previous year, with price hike of about 9 percent recorded last year 2014,” Du Toit said.

In true terms – that follows adjustment for the result of the consumer rate inflation – yearly house rate growth in between 3%-4% was registered on years 2013 and 2014.

“The performance of house rate came regardless of some difficult economic status experience for this 2-year period, like of falling economic growth, low labor growth, a devaluing exchange rate and increasing interest rates and inflation, which have an impact on domestic finances,” Du Toit explained.

“But, an event of normalisation and more balanced demand and supply conditions of housing are deemed to have greatly contributed to the rate growth of the previous two years.”

There are also some sites that can help you spot some of the best homes in town. Try checking for more information about their homes, offering and some wonderful deals up for grab!

How the Changes in Credit Reporting Affect You?

The three huge credit reporting agencies are creating changes that could aid in steering some consumers be cleared of the credit dog house.

From the data gather by the Equifax agencies, TransUnion and Experian on hundreds of millions of individuals are utilized to make credit rates. Those rates can identify who acquires a loan and how much interest rate is being paid on it.

The move starts from months of dealings in between the firms and Erich Schneiderman New York Attorney General, one of the many state lawyers general who have put the credit reporting industry on great search.

Jim Hood, Mississippi Attorney General sued Experian last June, saying that the company has consciously included error-puzzled information in the credit files of the client. Mike Dewine, Attorney General in Ohio is leading over 30 states in an investigation into the credit companies. That recommends more modifications by the industry could be on its way.

So how will these new changes affect you?

What’s changing?

The credit bureaus have come to an agreement to make several modifications. Two of which have the likelihood to affect greatly the consumers – changes on how people respond to disputing errors in their credit documentations and in the kind of credit data that will show in their files.

Will it be simpler to clash errors in your credit report?

In theory, yes! Let’s just say you’ve settled a suitable payment on your credit card yet it wrongly appears in your credit files as an overdue payment, potentially weighing your credit score down.  Now, consumers who want to repair that error can make a file of a dispute with the credit reporting firms, however it falls on the consumer to have the error fixed with their credit card firm. Moreover, the credit agencies mainly suspend to the creditor.

To deal with this, the companies came up with an agreement to employ workers whose task is to review consumer credit disputes solely and not just rubber stamping on what’s the says of the lender or the credit card issuers.

What about the medical debt changes?

In an offer to boost accuracy, medical debts will not be reported in pending after a 180-day waiting period to let time for insurance dues to be applied. The agencies approved to get rid from the credit reports previously reported medical collections that are being or have been paid by insurance firms.

Oftentimes, medical debts arise from insurance coverage disputes or delays. More than half of the entire collection stuff on credit reports are medical debts and those may not precisely reflect the creditworthiness of the consumers, base from Schneiderman statement.

How about the parking tickets?

With regard to the parking tickets, library late charges and similar penalties, they have agreed that these won’t be shown on the credit reports of consumers. The plan is not to include debts that don’t come from an agreement by the consumer to repay money, as in a credit card or through a loan. Still, if any of such debts will get sold to a collection firm, it’s likely that the unsettled debt record could lead anyway to your credit report.

Under the agreement, a working group will be created to review regularly the consistency and to make sure that the gathered data is applied evenly to consumers. The changes will begin to be implemented over the few months. Meeting with other attorneys general are continuing and there remains the likelihood for more agreements in the future. These changes could really help you in one way or another with your credit report and can be the best credit repair you are looking for.

Ways to Increase Affiliate Earnings In Amazon

Are you doing business with Amazon and after all these years, your earnings have been stagnant or even decreasing? This is the right article for you as this will give you ways on how to increase affiliate earnings in Amazon.

Target Buying Phrases

When people are shopping online, first, they go through general queries and then move on to more specific ones. The key is to target phrases which the people are looking for when they are approaching the buying stage. For instance, you are selling sleeping bags, do not use target phrases which are general like “what is the use of a sleeping bag” or “sleeping bags”. Use target phrases that people use when they are shopping such as “sleeping bag under $100” or “best sleeping bag”. These searches tell you they are looking for more detailed information to decide the purchase. Also, this will give you higher commission when your site achieves traffic of this kind.

Target Keywords with Long Tail

This is the same with the first point but you have to move further. Do not stop by using target phrases like “best sleeping bag” or “sleeping bags review”, you must target phrases with even longer tails. This means that you have to go for keywords that the search volume are very low. This strategy is fine even if you will get less traffic for each keyword or article, in the end; these kinds of keywords are high conversion types. You can use keywords like “cheap sleeping bag for toddlers” or best sleeping bag under $100”. These are some examples of long tail phrases when people are at the stage of making a decision to buy the product.

Link To Images

This tactic is simple yet often overlooked to improve your affiliate earnings at Amazon; you have to link your images to Amazon. When people read product reviews or articles, they always click the image and if the link is just a pull up on your site, then, you will lose one potential visitor or buyer. However, if the images are linked to Amazon, the chances are greater for more buyers.

If these tips are still insufficient and you need to personally hear them from the experts, then, you can attend the BHW Conference. You will learn from the best speakers known worldwide tackling about SEO and the Internet Marketing. One of the speakers that will help you to increase affiliate earnings and to turn your potential buyers into life-long customers is Jeremy Schoemaker. He is the founder of People Acquisition and Retention program (PAR) and has been in the business for 15 years with expertise in the fields of executive leadership and marketing. Also, he is the number one bestseller on Amazon and the most influential person over the Internet in 2010.

Listening from renowned speakers during the BHW conference will be a great learning experience to improve your skills and business.

I Bought My Car Just Like I Purchase Investment Property

I love my car. It is exactly what I need. However it is not what I want. When gas prices went up to over $4 a gallon, I decided to purchase a car with cash that was reliable and good on gas. I did not care what it looked like, it just had to last me 2 years, max $2K and around 30 miles per gallon. So I went on craigslist and began my search. I did the following as was amazed how similar it is to finding a motivated seller and purchase an investment property:

1. Searched for the keywords must sell and motivated

I Bought My Car Just Like I Purchase Investment Property

2. Sent out a lot of lowball offers, all cash and to purchase fast3. Completed a diagnostic inspection that cost $75 and saved me a mistake on 2 cars4. Talked him down more after the inspection even though the problems were not a concern5. Lastly, I test drove it and talked him down more due to the cosmetic dents, scratches and uncleanliness.

The result was much better than expected. Instead of spending $2K and getting a car that will last me 2 years, I spent $1K and got a car that will last me 5 years. I talked the guy down from $2700 to $1800. Then to $1300 after the inspection, then to $1000 after the test drive. The seller was motivated and due to the cosmetic issues there was little demand. I did not insult him when asking for price reductions, I explained the inspection items and the dents were a turnoff, but would still be interested if it was reflected in the price. Once I got an OK for a price reduction, the negotiation began and the seller said Yes to every price reduction request. Even though my car does not impress people, it is exactly what I need. I love getting into that car everyday knowing that I got an incredible bargain, just like we do when purchasing investment properties. With 1K in body repairs the car would be worth 5K. With purchase of 1K, and if I chose to do 1K in cosmetic repairs, the car is at a 40% LTV. Not too shabby. I used the same strategy to purchase a laptop. I ended up getting a nice one for $50 and a second one for free along with a really nice laptop bag. It pays to build rapport and get people to like you. I strongly recommend all investors try purchasing an item off Craigslist at a bargain price. It is great practice for negotiating and learning how to find great deals. Once I have enough money to purchase my dream car with cash, I will do so. But for now, I love that I got a better deal then anyone on the road.

Returns Management Maximizes Future Profits

Until recently, companies and organizations focused only on forward supply chain. Enterprises were more concerned about making their forward supply chain as perfect and as flawless as possible. Hence, reverse supply chain did not receive the kind of attention that it truly deserves. Though products did come back, it was considered as a pain in the neck that eats into company profits. Hence, the products were dumped in warehouses to gather dust and dirt. It remained there until it was ‘discovered’ during a physical inventory or warehouse cleanup. By that time, there would be nothing left to be salvaged.

Companies and organizations are now slowly waking up to the fact that product returns are the reality of every business. It is completely unavoidable and therefore, instead of considering it as a nuisance concrete steps are being taken to manage it cost-effectively. Moreover, the economic downturns also forced companies to explore possibilities of profits with returned goods.

At a time when another recession is in the offing, effective returns management can help companies and organizations to tide through tough times. Not only can it help in improving the company’ financial condition but also help in fostering strong relationships with customers.

Returns management is defined as "The management of all logistic operations related to returns of products from their original user to their supplier with the intention of a cost-effective recovery, while meeting all legal obligations". Product returns are always viewed from the perspective of transportation costs, inventory costs and warehousing costs but the fact of the matter is if managed effectively returns management can actually help in maximizing future profits. It can be a value generating system though not as perfect as forward supply chain.

Today the world has become customer-centric and hence it is the customers who call the shots. In order to increase sales and customer loyalty companies and organizations must ensure customer satisfaction. But today’ customers cannot be satisfied easily. They expect and want the after sales services to be as excellent as the sales services. Customers prefer return policies to be simple and easy and this has been vouched by several studies which says that a lenient return policy translate into long-term sales relationships. If the customers are assured that the product can be returned at any time they would not think twice when making the purchase or making other purchases of the same brand.

Hence, returns management is as important as any other activity in a supply chain be it retail distribution, retail fulfillment or order fulfillment.

Facts To Get Accepted For An Edmonton Mortgage

The key to Edmonton Mortgage approval is a job

When you are trying to get approved for a loan on a house, you will want to be sure that your job is stable. This means that you have a steady history of working. Your current job doesn’t have to be the one you have had for years, but it is good to show a good pattern of work places. This can help get an application approved faster. Banks always want to feel secure about the loan that they are giving out, and someone with a good stable job is more likely to continue making their payments on their new home.

An application to get approved for a mortgage will include proof of your employment. A bank specialist will want to contact your employers to find out how long you have been there and verify the income that was stated on the mortgage application. Typically they want to see that you have been with your job for at least a year. This is a crucial step in determining how likely it is for you to lose your job. Many employees are let go within their probation period. Waiting beyond that time frame, gives banks a feeling of more security.

Achieve excellent credit

A credit check is always done on someones loan application. The credit check will assess several factors. These things may include your previous credit history and if there are any red flags. Cautions for the bank would be a bankruptcy in the last few years or another form of it. Banks will also look at any outstanding payments that were not made, or any credit bureau findings. Before a person heads into a bank or a lenders office, they should find out what their credit score is. That can save on time and the hassle of going through with an application. Checking the score first can help a person raise their score before they visit a loan lender.

Facts To Get Accepted For An Edmonton Mortgage

Just because there are flaws on a credit score, it doesn’t mean that a mortgage is out of the question. Most lenders and banks will tell a person who they can get good credit and get approved for their mortgage. It may take some time, but there are ways to improve scores on a credit check. Things like reducing debt amounts and making payments to bills on time are all fantastic ideas. Everyone has different criteria that has to met. The more income that is earned, the more debt that can be okay. There is a percentage that is followed as a guideline for banks to use on applications when approving people for their house loans.

Facts To Get Accepted For An Edmonton Mortgage

Manage any debt

It is common for Edmonton mortgage agencies to approve many applications. They will look at the overall family debt, the family income and assess the credit history of the person or people being put on the mortgage. When applications are accepted without the right criteria established, it can cause people to fail at their monthly budget and fall behind on bills. The right policies are set up to give people a fair advantage for home ownership. Working with the specialists at banks or lending companies, is the ideal way to get approved. They can make suggestions and highlight areas for improvements. They want your application to get approved so that they can benefit from the loan, it is in every ones best interest to have a great looking application.