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WINDSOR — Since October, those involved in the bankruptcy involving one of the limited-liability corporations that owns Future Legends Sports Complex have been waiting for proof that owner Jeff Katofsky had secured a $260 million loan to pay off all its bills and get construction back on track. As the New Year approaches, they’re still … Read more
The U.S. Small Business Administration (SBA) encourages small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations hit by severe storms, straight line winds, tornadoes and flooding that occurred April 25-May 9, 2024 to apply for Economic Injury Disaster Loans (EIDLs) before Jan. 30, 2025. The disaster declaration includes Oklahoma … Read more
GOP-led states block Biden’s latest student debt relief plan Touted the most affordable student loan repayment plan ever, the SAVE plan would have provided debt relief to over 30 million Americans. Student loan debt is a serious problem for many Georgians – and the path forward is unclear. Around 1.7 million Georgians owe a … Read more
Debt cancellations for Russian soldiers are likely to increase financial pressure on Russian banks next year, according to British intelligence shared by the UK Ministry of Defense on social media. Russia is leveraging financial incentives to avoid a new wave of mobilization, which the Kremlin views as damaging to public support for the war, which … Read more
A mortgage lender is suing Better Home & Finance for allegedly stealing its retail lending operation through a poaching and theft of trade secrets scheme. Luminate Home Loans asked a judge last week to impose a temporary restraining order to prevent Better from building its retail business with employees and data from Luminate’s former Neo … Read more
The total number of loans now in forbearance increased to 0.50 percent at the end of November, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey. © Shutterstock MBA estimates that 250,000 homeowners are currently in forbearance plans. The share of Fannie Mae and Freddie Mac loans in forbearance increased 1 basis point … Read more
Ramsey Solutions personality Jade Warshaw breaks down the latest economic data that shows consumers credit card debt is piling up amid a jump in spending. Experts are sounding the alarm over a new report indicating credit card loan defaults soared this year, warning the dam is about to break on Americans’ record-high consumer debt. During … Read more
The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US MyPillow founder Mike Lindell has once again found himself staring down the wrong end of a seven-figure lawsuit, this … Read more
Super Micro Computer Inc. (SMCI, Financials) ended a $50 million loan deal with HSBC’s Taiwan unit, therefore creating even another level of financial difficulties for its operations. The business said that formally the loan, completely repaid on Sept. 9, was ended on Dec. 20. Reflecting investor uncertainty, Super Micro’s shares fell 5% on the announcement. … Read more
Bank of America to acquire HomeStreet Bank’s $990m loan portfolio. (Credit: Waynepua/Wikipedia.org (Creative Commons)) HomeStreet, the parent company of HomeStreet Bank, has agreed to divest $990m worth multifamily commercial real estate loans to Bank of America. The transaction, structured on a servicing-retained basis, is valued at 92% of the loans’ principal balance, including the retained … Read more