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Down Payment and Closing Cost Assistance
STATE HOUSING FINANCE AGENCIES Down Payment and Closing Cost Assistance OVERVIEW STRUCTURE For many low- and moderate-income people, the The structure of down payment assistance programs most significant barrier to homeownership is the down varies by state with some programs offering fully payment and closing costs associated with getting a amortizing, repayable second mortgages, while other mortgage loan. For that reason, most HFAs offer some programs offer deferred payment and/or forgivable form of down payment and closing cost assistance second mortgages, and still other programs offer grant (DPA) to eligible low- and moderate-income home- funds with no repayment requirement. buyers in their states. The vast majority of HFA down payment assistance programs must be used in combi DPA SECOND MORTGAGES (AMORTIZING) nation with a first-lien mortgage product offered by the A second mortgage loan is subordinate to the first HFA. A few states offer stand-alone down payment and mortgage and is used to cover down payment and closing cost assistance that borrowers can combine closing costs. It is repayable over a given term. The with any non-HFA eligible mortgage product. Some interest rates and terms of the loans vary by state. DPA programs are targeted toward specific popula In some programs, the interest rate on the second tions, such as first-time homebuyers, active military mortgage matches that of the first mortgage. Other personnel and veterans, or teachers. Others offer programs offer more deeply subsidized rates on their assistance for any homebuyer who meets the income second mortgage down payment assistance. Some and purchase price limitations of their programs. -
Automated Clearing House (ACH) Agreement
Automated Clearing House (ACH) Agreement P.O. Box 189, Middlebury, Vermont 05753-0189 www.nbmvt.com Phone: 1-802-388-4982 THIS AGREEMENT is made this _______ day of ___________________, 20_____, by and between _____________________________________________________________ (“Company”) and National Bank of Middlebury of Middlebury, Vermont, (“Bank”). This agreement is governed by the laws of the State of Vermont. The Company has requested that the Bank permit it to initiate electronic signals for paperless entries through the Bank to accounts maintained at the Bank and in other banks and financial institutions, by means of the Automated Clearing House (“ACH”). NOW, THEREFORE, in consideration of the mutual promises contained herein, it is agreed as follows— 1. The Bank will transmit the credit and/or debit entries initiated by the Company to the ACH as provided in the ACH Rules (“Rules”), as in effect from time to time and this Agreement. An ACH Rule Book is available upon request from the Bank. Please contact the Bank with any questions about compliance with the ACH Rules. The Bank reserves the right to audit the Company to ensure compliance with the ACH Rules. 2. The Company will comply with the Rules insofar as applicable. The specific duties of the Company provided in the following paragraphs of this Agreement in no way limit the foregoing undertaking. The Company (Originator) will not initiate entries that violate the laws of the United States, which includes Office of Foreign Asset Control sanctions (OFAC). Website: www.treas.gov/ofac/ 3. The Company will obtain written authorization for consumer entries, shall provide a copy to the consumer, and shall retain the original for two (2) years after termination or revocation of such authorization. -
Commercial Mortgage Loans
STRATEGY INSIGHTS MAY 2014 Commercial Mortgage Loans: A Mature Asset Offering Yield Potential and IG Credit Quality by Jack Maher, Managing Director, Head of Private Real Estate Mark Hopkins, CFA, Vice President, Senior Research Analyst Commercial mortgage loans (CMLs) have emerged as a desirable option within a well-diversified fixed income portfolio for their ability to provide incremental yield while maintaining the portfolio’s credit quality. CMLs are privately negotiated debt instruments and do not carry risk ratings commonly associated with public bonds. However, our paper attempts to document that CMLs generally available to institutional investors have a credit profile similar to that of an A-rated corporate bond, while also historically providing an additional 100 bps in yield over A-rated industrials. CMLs differ from public securities such as corporate bonds in the types of protections they offer investors, most notably the mortgage itself, a benefit that affords lenders significant leverage in the relationship with borrowers. The mortgage is backed by a hard, tangible asset – a property – that helps lenders see very clearly the collateral behind their investment. The mortgage, along with other protections, has helped generate historical recovery from defaulted CMLs that is significantly higher than recovery from defaulted corporate bonds. The private CML market also provides greater flexibility for lenders and borrowers to structure mortgages that meet specific needs such as maturity, loan amount, interest terms and amortization. Real estate as an asset class has become more popular among institutional investors such as pension funds, insurance companies, open-end funds and foreign investors. These investors, along with public real estate investment trusts (REITs), generally invest in higher quality properties with lower leverage. -
Introduction
INTRODUCTION Bank Alfalah Limited was incorporated in June 21st, 1997 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from November 1st, 1997. The bank is engaged in commercial banking and related services as defined in the Banking companies ordinance 1962. The Bank is listed on all the three stock exchanges of Pakistan. The Bank is engaged in banking services as described in the Banking Companies Ordinance, 1962 and is operating through 191 conventional banking branches, 32 Islamic banking branches and 7 overseas branches and 1 Offshore Banking Unit, with the registered office at B.A. Building, I.I. Chandigarh, Karachi. Since, its inception as the new identity of H.C.E.B after the privatization in 1997, the management of the bank has implemented strategies and policies to carve a distinct position for the bank in the market place. Strengthened with the banking of the Abu Dhabi Group and driven by the strategic goals set out by its board of management, the Bank has invested in revolutionary technology to have an extensive range of products and services. This facilitates their commitment to a culture of innovation and seeks out synergies with clients and service providers to ensure uninterrupted services to its customers. The bank perceived the requirements of customers and matches them with quality products and service solutions. During the past five years, bank has emerged as one of the foremost financial institution in the region endeavoring to meet the needs of tomorrow as well as today. To continually upgrade the quality of service to the customers, training of team members in all the integral aspects of banking, customer service and IT was specially focused. -
Annual Report 2011
SoneriBank Soneri B8nk Limited Regla11ered ortlce: Rupall House 241-242, - Upper Mall Scheme, Anand Road, Lahore - 54000, Pakistan Tel: (042) 35713101-04 Head Otnc:e: 90·8-C/11, Uberty Market, Gulberg Ill, LahcnJ • 54000, Pakistan Tal: (042) 35772362-65 Central Office: 51h FlOOr, AJ.Rahim Tower, 1.1. Chundrigar Road, Karachi ·74000, Pakistan J Tal: (021) 32439562-67 Webde: www.aonertbank.com 2417 Call C.ntre: 0800-00500 UAN: 111-80NERI Soneri Bank Limited nnnUHL REPORT 2U II An experience Beyond Banking Soneri Bank Limited R~~URl ~frO~T 2011 OUR MISSION To develop Soneri Bank into an aggressive and dynamic financial institution having the capabilities to provide personalized service to customers with cutting edge technology and a wide range of products, and during the process ensure maximum return on assets with the ultimate goal of serving the economy and the society. Soneri Bank Limited R~~URl ~frO~T 2011 Products and Services 07 Corporate Information 13 Board Committees 14 Management Committees 15 Key Performance Indicators 17 Six Years' Financial Summary 18 Six Years' Growth Summary 20 Six Years' Vertical Analysis 22 Six Years' Horizontal Analysis 24 Directors' Report to Shareholders 27 Statement of Value Addition 33 Statement of Internal Controls- by President 34 Statement of Internal Controls- by Chairman 35 Statement of Compliance with Best Practices of Code of Corporate Governance 36 Auditors' Review Report to The Members on Statement of Compliance with Best Practices of Code of Corporate Governance 38 Auditors' Report to The Members 39 Statement of Financial Position 40 Profit and Loss Account 41 Statement of Comprehensive Income 42 Cash Flow Statement 43 Statement of Changes in Equity 44 Notes to the Financial Statements 45 Shariah Advisor's Report 99 Notice of Annual General Meeting 101 Pattern of Shareholding 103 List of Branches 106 List of Foreign Correspondents 110 Soneri Bank Limited nnn ~Al ~Ero~r 2011 nnn~nl ~Ero~r 2011 As of 31 December 2011 Soneri Bank Limited was incorporated on September 28, 1991. -
4. Role of Multilateral Banks and Export Credit Agencies in Trade Finance 34 5
Revitalising Trade Finance: Development Banks and Export Credit Agencies at the Vanguard EXPORT-IMPORT BANK OF INDIA WORKING PAPER NO. 71 REVitaLISING TRADE FINANCE: DEVELOPMENT BANKS AND Export CREDIT AGENCIES at THE VangUARD EXIM Bank’s Working Paper Series is an attempt to disseminate the findings of research studies carried out in the Bank. The results of research studies can interest exporters, policy makers, industrialists, export promotion agencies as well as researchers. However, views expressed do not necessarily reflect those of the Bank. While reasonable care has been taken to ensure authenticity of information and data, EXIM Bank accepts no responsibility for authenticity, accuracy or completeness of such items. © Export-Import Bank of India February 2018 1 Export-Import Bank of India Revitalising Trade Finance: Development Banks and Export Credit Agencies at the Vanguard 2 Export-Import Bank of India Revitalising Trade Finance: Development Banks and Export Credit Agencies at the Vanguard CONTENTS Page No. List of Figures 5 List of Tables 7 List of Boxes 7 Executive Summary 9 1. Introduction 16 2. Review of Trade Finance Market 19 3. Challenges to Trade Finance 26 4. Role of Multilateral Banks and Export Credit Agencies in Trade Finance 34 5. Way Ahead 44 Project Team: Mr. Ashish Kumar, Deputy General Manager, Research and Analysis Group Ms. Jahanwi, Manager, Research and Analysis Group 3 Export-Import Bank of India Revitalising Trade Finance: Development Banks and Export Credit Agencies at the Vanguard 4 Export-Import Bank of India Revitalising Trade Finance: Development Banks and Export Credit Agencies at the Vanguard LIST OF FIGURES Figure No. -
COMMUNITY BANK LANDSCAPE North Carolina 1St Quarter 2019
COMMUNITY BANK LANDSCAPE North Carolina 1st Quarter 2019 RESEARCH | INVESTMENT BANKING | EQUITY SALES & TRADING | FIXED INCOME | CORPORATE & PRIVATE CLIENT SERVICES TABLE OF CONTENTS SECTION DESCRIPTION I. NORTH CAROLINA BANK REGULATORY DATA II. FIG PARTNERS UPDATE 2 I. NORTH CAROLINA BANK REGULATORY DATA OVERVIEW – NORTH CAROLINA BANK REGULATORY DATA Piedmont Mountains Coastal Plain METHODOLOGY ▪ 3 regions separated by geographic KEY STATE OBSERVATIONS relevance ▪ Median loan growth of 4.69% ▪ Data as of most recent available ▪ Median NIM of 3.77% quarter as of March 31, 2019 ▪ Regulatory call report data shown for all banks NOTES FOR ALL REGIONS: Note: Texas Ratio = (NPAs + Loans 90+ PD)/ (TCE+LLR) NPAs = Nonaccrual Loans + (Loans 90+ PD ) + Restructured Loans + OREO Nonaccrual loans, Loans 90+ PD and OREO are adjusted to exclude the FDIC guaranteed portion of these assets Does not include Bank of America, NA Source: S&P Global Market Intelligence, Most Recent Available Quarter 4 NORTH CAROLINA BANKS – MOUNTAINS REGION Company Information Balance Sheet Highlights Capital Adequacy Asset Quality Financial Performance Total Total MRQ Total MRQ Lns / Leverage RBC NPA/ NPA ex Restr/ Texas LLR/ NCOs/ MRQ MRQ MRQ MRQ Assets Lns Growth Deposits Growth Dep. Ratio Ratio Assets Assets Ratio Loans Loans Net Inc. ROAA N.I.M. Efficiency Name City ($M) ($M) (%) ($M) (%) (%) (%) (%) (%) (%) (%) (%) (%) ($000) (%) (%) (%) Black Mountain SB SSB Black Mountain $40 $29 3.3 % $34 (6.4) % 85.6 % 12.74 % 31.62 % 0.00 % 0.00 % 0.0 % 0.14 % 0.00 % $41 0.41 % 3.00 % 82.9 % Entegra Bank Franklin 1,668 1,089 2.0 1,251 8.2 87.1 9.67 14.35 0.80 0.43 7.8 1.11 0.02 4,046 0.98 3.17 68.3 HomeTrust Bank Asheville 3,455 2,674 4.7 2,332 10.2 114.7 10.25 12.22 1.09 0.40 10.0 0.91 0.38 3,373 0.39 3.34 69.7 Jackson SB SSB Sylva 32 26 (1.5) 26 (1.3) 101.7 20.97 40.77 1.20 1.03 5.7 0.22 0.00 81 1.00 3.69 69.2 Lifestore Bank (MHC) West Jefferson 293 185 3.2 225 7.7 82.2 10.99 18.61 1.13 1.13 9.6 1.31 0.00 713 0.98 3.46 72.8 Morganton SB S.S.B. -
Adjustable-Rate Mortgage (ARM) Is a Loan with an Interest Rate That Changes
The Federal Reserve Board Consumer Handbook on Adjustable-Rate Mortgages Board of Governors of the Federal Reserve System www.federalreserve.gov 0412 Consumer Handbook on Adjustable-Rate Mortgages | i Table of contents Mortgage shopping worksheet ...................................................... 2 What is an ARM? .................................................................................... 4 How ARMs work: the basic features .......................................... 6 Initial rate and payment ...................................................................... 6 The adjustment period ........................................................................ 6 The index ............................................................................................... 7 The margin ............................................................................................ 8 Interest-rate caps .................................................................................. 10 Payment caps ........................................................................................ 13 Types of ARMs ........................................................................................ 15 Hybrid ARMs ....................................................................................... 15 Interest-only ARMs .............................................................................. 15 Payment-option ARMs ........................................................................ 16 Consumer cautions ............................................................................. -
Global Fund Finance Symposium
8TH ANNUAL Global Fund Finance Symposium MARCH 21, 2018 NAME _________ GRAND HYATT, NEW YORK 8TH ANNUAL Global Fund Finance Symposium TABLE OF CONTENTS Letter from the Chairman ...3 Agenda at a Glance ............. 4 Session Details .................... 5 Sponsors ............................ 13 Speakers ............................ 31 FFA Leadership .................. 78 2 LETTER FROM THE CHAIRMAN Industry colleagues, The WFF committees have a great set of events planned for As I sit here on a Sunday night, with a glass of pinot in hand, 2018, and a special thanks to each of the firms that are helping trying to think of how to best encapsulate the feeling of the to sponsor these events. To help broaden the audience to 2017 market, my mind keeps wandering off to the pleading include more male participation, we’ve structured a great words of RiRi….. feature panel here today as part of the symposium. It’s my early favorite for winner of Best Panel of the day. “Please don’t stop the, please don’t stop the, please don’t stop the music” Couple of housekeeping notes - this year, we’ll be hosting our Rihanna 2007 (…and investors everywhere in 2017) Sponsor Dinner in London prior to the European symposium. Markets across the board were up, volatility was low, three The European fund finance market continues to grow, and the quarters of global GDP saw a pick-up in year-on-year terms in Board is looking forward to an evening there to both thank 2017, and the IMF is projecting stronger global GDP growth in our participating sponsors, but importantly provide a forum 2018 & 19 than 2017. -
Commonwealth International Series Trust ANNUAL REPORT October
Commonwealth International Series Trust 791 Town & Country Blvd., Suite 250 Houston, TX 77024-3925 888-345-1898 www.commonwealthfunds.com INVESTMENT ADVISOR FCA Corp 791 Town & Country Blvd., Suite 250 Houston, TX 77024-3925 Commonwealth Australia/New Zealand Fund Africa Fund DISTRIBUTOR Commonwealth Japan Fund Ultimus Fund Distributors, LLC Commonwealth Global Fund 225 Pictoria Drive, Suite 450 Cincinnati, OH 45246 Commonwealth Real Estate Securities Fund TRANSFER AGENT & ADMINISTRATOR Ultimus Fund Solutions, LLC 225 Pictoria Drive, Suite 450 Cincinnati, OH 45246 ANNUAL REPORT CUSTODIAN BANK October 31, 2020 Fifth Third Bank N.A. Fifth Third Center 38 Fountain Square Plaza Cincinnati, OH 45263 Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the INDEPENDENT REGISTERED PUBLIC Funds’ shareholder reports like this one will no longer be sent by ACCOUNTING FIRM mail, unless you specifically request paper copies of the reports BBD, LLP from the Funds or from your financial intermediary such as a 1835 Market Street, 3rd Floor broker-dealer or bank. Instead, the reports will be made available Philadelphia, PA 19103 on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report. LEGAL COUNSEL If you already elected to receive shareholder reports electronically, Practus, LLP you will not be affected by this change and you need not take any 11300 Tomahawk Creek Parkway, Suite 310 action. You may elect to receive shareholder reports and other Leawood, KS 66211 communications from the Funds electronically by contacting the Funds at 888-345-1898 or, if you own these shares through a financial intermediary, you may contact your financial intermediary. -
Fifth Third Bank, N.A. Charter Number: 21963
O LARGE BANK Comptroller of the Currency Administrator of National Banks Washington, DC 20219 PUBLIC DISCLOSURE May 4, 2009 COMMUNITY REINVESTMENT ACT PERFORMANCE EVALUATION Fifth Third Bank, N.A. Charter Number: 21963 424 Church Street Nashville, Tennessee 37219 Office of the Comptroller of the Currency Nashville Field Office 5200 Maryland Way, Suite 104 Brentwood, Tennessee 37027 NOTE: This document is an evaluation of this institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operation of the institution. This evaluation is not, and should not be construed as, an assessment of the financial condition of this institution. The rating assigned to this institution does not represent an analysis, conclusion, or opinion of the federal financial supervisory agency concerning the safety and soundness of this financial institution. Charter Number: 21963 Table of Contents OVERALL CRA RATING .......................................................................................................... 2 DEFINITIONS AND COMMON ABBREVIATIONS................................................................... 3 DESCRIPTION OF INSTITUTION............................................................................................. 7 SCOPE OF THE EVALUATION................................................................................................ 8 FAIR LENDING OR OTHER ILLEGAL CREDIT PRACTICES REVIEW................................ 10 MULTISTATE METROPOLITAN -
How to Become a Mortgage Broker
HOW TO BECOME A MORTGAGE BROKER What is a Mortgage Broker? A Mortgage Broker is a go-between between the borrower and the lender (usually a bank), who negotiates the loan on your behalf. They will research products on the market from the hundreds available, and then support the customer through the application and settlement process. They facilitate the transaction between the lender and the borrower. A Mortgage Broker will look at the client’s specific needs and circumstances and should be able to interpret which type of loan best suits their client and why. They will look at the different aspects of a loan application, present their client's application in its most positive light, rather than just seeing whether it meets a checklist or not. Good Mortgage Brokers will 'follow up' approvals for their clients. The service offered by Mortgage Brokers doesn’t stop with just submitting the loan application, it continues right up to and after settlement. A Mortgager Broker should be trying to minimise the legwork and hassle for their clients, and remain available to answer any questions they may have, even well after the loan settles. The Role or Job Description of a Mortgage Broker A Mortgage Broker serves as a financial expert, retained by a homeowner or homebuyer to explore financing options for real estate purchases or refinancing, and to take care of the loan origination process up to the point of disbursing the funds. Armed with credit and financial information from the potential borrower, a Mortgage Broker uses a network of lenders and institutions to find a loan that suits the needs and desires of the buyer, then negotiates with the lender to secure terms and options for the buyer.