Lending (also known as "financing") occurs when someone allows another person to borrow something. Money, property, or another asset is given by the lender to the borrower, with the expectation that the borrower will either return the asset or repay the lender. In other words, the lender gi...
Fair Lending: What To Do When The Government Comes KnockingPaul F. Hancock
It’s fair to say that both direct and marketplace lending will keep evolving as new technologies emerge. Ultimately, the future of lending should work to increase the accessibility of business financing for merchants. The financing experience itself should also improve as artificial intelligence becom...
1968: TILA is enacted by federal lawmakers as Title I of the Consumer Credit Protection Act. 1969: TILA, as implemented by Regulation Z, takes effect. 1980: Congress passes the Truth in Lending Simplification and Reform Act to simplify and clarify many TILA provisions. 1988: The Home Equi...
Erik J. MartinOct. 25, 2024 What Are Payday Alternative Loans? Borrow cheaply without a credit check. Payday alternative loans from credit unions deliver funds fast. Melanie LockertAug. 26, 2024 Funeral Loans for Final Expenses Arranging and paying for a funeral while grieving can be a challen...
A loan-to-value (LTV) ratio divides your loan amount by the home’s value; 80% is a good LTV. Lenders use LTV to determine your loan amount, risk, insurance, and interest rate.
What are the benefits and drawbacks of peer-to-peer lending? If you’re considering taking out a personal loan through a peer-to-peer marketplace, know the pros and cons first. Pros Fair credit accepted: Some peer-to-peer marketplaces allow borrowers to have credit scores as low as 600....
When deciding between a personal loan or a home equity loan, consider your unique financial situation and how you plan on using the funds. Erika GiovanettiOct. 11, 2024 Is Costco Good for Mortgages? A Costco mortgage could save you money, but shopping around is still a must. ...
Under fair lending laws, these factors cannot be used to make lending or underwriting decisions. Redlining is most often associated with mortgage lending practices, but can also be seen in student loans, business loans, car loans, and personal loans. ...
ECOA is an important federal law promoting fair lending practices. It bars lender discrimination, and guards against bias related to race, religion, national origin, gender, marital status, age, public assistance eligibility, or consumer protection rights. ...