News

[ad_1] Share Market News Today | Sensex, Nifty, Share Prices LIVE: BSE Sensex and Nifty 50 were trading flat on Thursday, a day of F&O expiry of August contracts [ad_2] Source link

[ad_1] As compliance becomes an increased focal point for mortgage lenders and investors, staying ahead of state and federal regulations can be the difference between a flourishing business and one mired in fines. SitusAMC’s Scott McNulla, Senior Director of Regulatory Compliance, and Sheila Meagher, Senior Vice President of Enterprise Sales and Account Management, weigh in on changes across the compliance landscape, what lenders need to know and how to best navigate regulatory pressures. HousingWire: How have changes in White House and other agency leadership affected regulatory enforcement? Scott McNulla, Senior Director of Regulatory Compliance at SitusAMC Scott McNulla: We expect the Consumer Financial Protection Bureau and other agencies to be more enforcement-oriented. The indication at this point is the Biden administration is going to be much more focused on consumer protection. Although the last administration did not dismiss or ignore consumer protection, there appeared to be significant focus on open markets for lenders. Sheila Meagher, Senior Vice President of Enterprise Sales and Account Management at SitusAMC Sheila Meagher: The Biden administration will also be looking more closely at the competitive landscape. The president issued an executive order on July 9th asking agencies including the CFPB, Department of Justice, Federal Trade Commission and others to work to promote competition in the American economy. It will be interesting to see what it will mean for mega companies in the financial sector. HW: What should lenders prioritize in terms of compliance? McNulla: The most significant area of focus will be direct consumer harm. The two biggest rules for the origination market in the last decade were TRID (TILA-RESPA Integrated Disclosure) and Qualified Mortgages/Ability To Repay (QM/ATR). Those were issued to give consumers more information and make sure they can afford the loans being taken out. Institutions should get their ducks in row, be prepared for examinations and be ready to address any identified issues in a timely manner. The first time the agencies find something they may give a slap on the wrist – though fines could still be in the millions of dollars. But if they come back and the same problem is in play it can get cumbersome, possibly even including cease-and-desist orders. Meagher: With TRID regulations specifically, for institutions who don’t have the compliance tools in place, TRID related errors can be significant – with penalties running as much as $400 per loan. If you are using an automated compliance tool with the capability to view and delve into the details of your regulatory compliance findings data, you can uncover the cause(s) of a reoccurring failure or deficiency (e.g., a systemic issue related to process/workflow, a training issue, etc.). McNulla: For example, one entity held its loans in its portfolio and eventually decided to sell the paper. They had not used an automated compliance tool, so they didn’t know what they didn’t know. During the sale, due diligence was performed at the loan level, which uncovered significant compliance exceptions. These types of findings can be a rude awakening with significant impacts to the portfolio. It’s like driving a car without a speedometer – you know you’re going fast because you’re passing other cars, but you don’t know if you’re speeding over the limit. I don’t fault an underwriter for trying to get a loan to close – they are under tremendous pressure to perform, and they want to be compliant. But if they don’t have systems and controls in place to help them, they may not know how fast they are going. HW: How can lenders maintain efficiency amid increased pressure to remain compliant? McNulla: Integrate a solution directly into the process so loans are tested for compliance throughout the lifecycle of a loan, from application through approval through preclosing and post-closing, because there are aspects of origination under TRID that require a post-closing disclosure. Compliance tools give you real-time feedback, providing the opportunity to identify deficiencies on a specific loan as well as a system or process deficiency. Meagher: Lenders choose when their loan origination system is going to submit a request to a compliance tool – some hit it at rate lock, others further down the manufacturing process. Regardless of when the reviews are triggered, the user receives real-time feedback on the loan. The savings can be significant if you uncover and address a systemic problem, so it doesn’t happen on future loans. HW: How does SitusAMC help lenders navigate increased regulatory scrutiny? McNulla: Our compliance automation system, ComplianceAnalyzer, instantly audits and identifies compliance issues, whether the issue is on one loan or indicative of a systemic or process breakdown. We ensure lenders have visibility into their loans as they are being originated, to minimize regulatory findings that can be damaging from both a financial and reputational perspective. The cost to audit a loan is a fraction of the cost of potential fines and consent orders than can occur when regulators find issues. Meagher: There are some entities still using spreadsheets to check compliance. Our software provides an objective third-party process that makes testing exponentially easier. In addition, our platform is used by the CFPB and state regulators in performing their examinations. Lenders can review their loans with the same tool used by regulators. The post How lenders can prepare for increasing regulatory pressures appeared first on HousingWire. [ad_2] Source link

[ad_1] The post Triple Net Lease Pros and Cons: What Landlords Need to Know appeared first on Millennial Money. If you’re a commercial landlord, you may be wondering if a triple net lease is right for you and your real estate properties. Also styled as a “NNN lease,” there are plenty of reasons why landlords and investors choose this lease structure. After all, they’re literally “nothing but net.” However, there are also some negatives. So let’s take a closer look at triple net lease pros and cons to help you determine whether this strategy would work for your commercial property. What Is a Triple Net Lease? A triple net lease is an agreement in which the commercial tenant agrees to pay all property expenses in addition to the rent and utility bills. These expenses can include major and minor repairs, routine maintenance, property insurance, and real estate taxes. Because the tenant is footing the bill for all of these costs, NNN lease landlords typically don’t charge as much base rent as they would with another lease type. Triple net leases are popular with commercial real estate investors because they provide a relatively hands-off, low-risk, long-term way to profit as a landlord. Who wouldn’t love that? But they also require a good deal of trust in the tenant. Other types of net leases Net leases are lease types in which tenants must pay additional building expenses in addition to rent. They’re popular in commercial real estate because they reduce the responsibilities of the property owner. Aside from the triple net lease, the other most popular type of net lease is the double net lease (or NN lease). Here, the tenant pays real estate taxes and insurance premiums as well as rent. The property owner covers all maintenance costs. A less common lease type is the single net lease (or N lease), in which the tenant is responsible only for property taxes in addition to the base rent. The landlord covers all the other stuff. Triple Net Lease Pros for Landlords You’ll enjoy minimal landlord responsibilities Most of the responsibilities for a triple net lease property are on the tenant, not the landlord. As a result, the NNN lease is a good option for rental real estate investors who prefer a hands-off approach to commercial leasing. If a window breaks, it’s not your problem. When the property tax comes due, it’s not your problem. What if a herd of elephants stampedes through the hallway? Again, it’s not your problem. (Unless they’re your elephants.) The “whatevs” attitude NNN lease landlords take on makes this lease type a desirable option for investors who live far from their commercial real estate properties. Learn More: How To Invest in Out of State Rental Property You’ll earn steady passive income A triple net lease can give you a consistent stream of passive income. That’s because you’ll receive regular rent payments. And — icing on the cake — your responsibilities as a landlord will be minimal. Once you and your tenant sign the lease, you just have to sit back and wait for the base rent payments to roll in. And those payments will be the same every month. You won’t have varying costs for repairs and maintenance taking a chunk out of your profits each month. This means more money in your pocket every month — making it that much easier to run your real estate empire. In fact, triple net lease arrangements work best for investors who own multiple rental properties. Learn More: Passive Real Estate Investing: A Beginner’s Guide What You Should Know Before Buying Rental Property You’ll lock in a long-term lease It’s typical for the lease term on a NNN property to last as long as ten or even twenty years. So you won’t be struggling to fill a vacancy nearly as often as you would with another lease type. This can save you time, money, and a hassle. Your NNN lease is transferable Triple net leases can transfer from one property owner to another. So if you decide to sell your interest in the property, you’re free to do so. This will come in handy if you ever decide to invest in a different type of real estate or another income-generating strategy altogether. Triple Net Lease Cons for Landlords You’ll have limited income potential Since the landlord and the tenant agree on a fixed base rent amount, there’s a cap on how much income you can earn as the owner of a triple net lease investment. You won’t be able to increase the monthly rent payments for the term of the lease. Although this is great news for tenants, it can put a damper on the landlord’s profit potential. For example, even if local property values skyrocket, you’ll have to wait until the end of the lease term to impose a rent increase. With a long-term NNN lease, that could be ten years or more. You may have trouble tenants Not all tenants may be good at keeping your building in perfect condition. Your tenants will be paying all of the costs associated with the property — and some of these costs might increase over time. As a result, cash-strapped tenants might turn a blind eye to upkeep. There’s also the risk that your tenant might fall behind on real estate taxes or neglect to pay them altogether. That might be enough to drive them out of business. Most NNN leases are ground leases. That means, once the lease term is over, the property again becomes the responsibility of the landlord. You’ll have to deal with whatever’s left after the tenant vacates. You could decrease this risk by using a bonded lease, also known as an “absolute lease,” “true NNN lease,” or — my favorite — “hell or high water lease.” This type of triple net lease puts every bit of building responsibility on the tenant. Even if Godzilla were to stomp on it, the tenant would have to pay to

[ad_1] Do your kids need new socks? This is a great deal on Adidas Kid’s Socks! Adidas is offering Creators Club Members (it’s free to join) an extra 33% off your purchase when you use the promo code ALLACCESS at checkout! Plus, shipping is free for members. As a deal idea, you can get Adidas Superlite Kids Socks 6-Pack for just $5.36 shipped after the promo code (regularly $16)! You can also get Adidas Kids Tees for just $4.69 shipped after the promo code (regularly $10)! Valid through August 29, 2021. Thanks, Hip2Save! [ad_2] Source link

[ad_1] U.S. to work with Big Tech, finance sector on new cybersecurity guidelines [ad_2] Source link

[ad_1] The company invested in new businesses to capitalise on future growth opportunities and increase its shareholding in existing businesses, it said. [ad_2] Source link

[ad_1] Gary Keller, executive chairman of KWx  Whatever changes are afoot at Keller Williams, Gary Keller remains the company’s public face. Last October, Keller, founder of the real estate franchise network, stepped down as CEO. He took the role of executive chairman of KWx, a holding company that would showcase the 38-year-old, Austin, Texas business’s forays outside straight home selling. Carl Liebert, a veteran executive of companies from HomeDepot to Auto Nation, was named new CEO. Fast forward to the present and a three-day long Keller Williams event this week, dubbed “Mega Camp,” featured multiple sessions with Keller. He interviewed “top-producing agents and leaders throughout the industry. The company founder conversed with the company’s head of inclusion and belonging. And Keller emceed the proceedings on a stage for the virtual event. In front of hundreds of small screens, wearing a black blazer, Rolling Stones t-shirt, and brightly colored sneakers, Keller was the star. This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Gary Keller stars at KW’s Mega Camp appeared first on HousingWire. [ad_2] Source link

[ad_1] Need new workout apparel? Don’t miss these huge savings on Gaiam products! Zulily is offering huge savings on Gaiam Workout Apparel right now with prices starting at just $11.99 and all items under $16! Plus, you’ll get an exclusive 10% off when you shop through our link. These are GREAT savings on a quality workout clothing brand! Meg here from the MSM Team! I love Gaiam clothing for yoga, workouts, or even just lounging around. Their clothing is SO comfortable and moves with you. (Also, I love that their leggings actually stay up and don’t roll down!) I highly recommend their tank tops, leggings, and pullover long-sleeve shirts. They’re all SO comfy and I wear them all year long! Shipping starts at $5.99. But if you place one order today, the rest of your orders will ship for FREE through 11:59 p.m. PT tonight! [ad_2] Source link

[ad_1] NetApp Earnings, Revenue Beat in Q1 [ad_2] Source link

[ad_1] An easy solution to improve distribution business is privatisation of discoms, with transitional financial support from the govt and a prescribed commercial loss reduction trajectory [ad_2] Source link