commercial's FotoPage

By: commercial commercial

[Recommend this Fotopage] | [Share this Fotopage]
[<<  <  1  2  3  4  [5]  6  7  8  9  10  11  12  13  14  >  >>]    [Archive]
Thursday, 14-Nov-2013 12:38 Email | Share | | Bookmark
Westpac In Record Profit; Australia Banks Set For Bumper 2014












Westpac also joined Australia and New Zealand Banking Group Ltd , Commonwealth Bank of Australia and National Australia Bank Ltd in rewarding http://commercial12.hyves.nl/blog/51805391/Simple_And_Effective_Commercial_Real_Estate_Strategies/LGIP/?pageid=ANV71MKCJXCK8SOCK shareholders with dividend hikes. It lifted its final dividend 5 percent to A$0.88 per share and unveiled a special dividend of A$0.10 per share. CREDIT GROWTH The sector's strong earnings run has come despite some leaner times in bank lending. Annual Australian credit growth stands at 3.3 percent, down from some 15 percent in 2007 while housing credit growth is at around 5 percent, down from 20 percent a decade ago. But Westpac noted encouraging signs. "There is no doubt that domestically we are seeing a pick-up in consumer confidence which we expect will translate to a gradual increase in credit growth," Chief Executive Gail Kelly said in a statement. Michael McCarthy, chief market strategist at CMC Markets, also noted that housing data over the last three months has been positive, boding well for the mortgage market - a key profit centre for Australian banks. An index for home prices in the country's major cities rose strongly for a second straight month in October to an unprecedented high while parts of Sydney have seen close to record auction clearances. Figures like these have fuelled talk of a housing bubble but the central bank has called such talk "unrealistically alarmist". <br>For the original version including any supplementary images or video, visit http://smallbusiness.yahoo.com/advisor/westpac-record-profit-australia-banks-set-bumper-2014-013219629--sector.html





ANZ targets new small businesses with $1bn in loans





Picture: File Source: AAP BIG four bank ANZ will lend $1 billion to new small businesses this year - a target aimed squarely at growing the pie rather than chasing existing customers. The ANZ sports a $150.5 billion non-housing loan book but it is unclear how much it currently lends to small business. Access to finance remains a key business challenge for small businesses, which contribute about 20 per cent of Australias GDP and are together responsible for almost half of the countrys private sector employment. About 32 per cent of small businesses responding to a CPA Australia survey last year said finance was easy to find, down from 36 per cent the previous year. This put Australian businesses ahead of their Hong Kong counterparts (22 per cent) but behind New Zealand small businesses (42 per cent). ANZs general manager of small business, Nick Reade, said the commitment was aimed at easing cash flow for new starters. <br>For the original version including any supplementary images or video, visit http://www.news.com.au/business/your-business/anz-targets-new-small-businesses-with-1bn-in-loans/story-fn9evb64-1226615544661



Tuesday, 12-Nov-2013 02:31 Email | Share | | Bookmark
Low Doc Loans












STEPHEN LONG: So you were a sole parent, three kids, $24,000 a year and you were told you could buy a home? MICHELLE MATHESON: That's correct, yeah. STEPHEN LONG: The loan http://commercial123.webstarts.com/index.html?r=20120611170942 application, which she only received recently, said Michelle was a self-employed professional and had grossly overstated her income. MICHELLE MATHESON: My income has been stated, not obviously by myself, but either by the broker or somebody at the bank - has been stated to be $75,000 per year. The previous year's income was $70,000. STEPHEN LONG: She named the house "Hope". The situation was hopeless. <br>For the original version including any supplementary images or video, visit http://www.abc.net.au/news/2012-08-14/australia-faces-its-sub-prime-mortgage-scandal/4196210





7 things you should know about low doc loans





"Can't claim it is risk free, but we claim our approach minimises the exposure to taxpayer," Australian Office of Financial Management (AOFM) chief executive Rob Nicholl told a parliamentary committee in Canberra on Friday. Mr Nicholl said the AOFM had no sub-prime loans among the mortgages underpinning the residential mortgage-backed securities (RMBS) in its portfolios. The parliamentary inquiry was examining the Australian banking sector in the aftermath of the global financial crisis. The collapse of the US sub-prime mortgage market in 2007 was the precursor to the global financial crisis. Mr Nicholls said the AOFM`s mortgages with at least 30-day arrears were just 1.1 per cent of its portfolio. He said this was less than that for full document and broader prime loans. The AOFM's investment in RMBS was $11.1 billion as at August 31, with the mortgage pools backing these investments being $25 billion, Mr Nicholls. Of these, less than two per cent, or just over $400 million, were low-documentation loans, a type of loan usually given to people who did not gain approval for mortgages from more traditional sources. Liberal senator David Bushby acknowledged the Labor government was right in boosting the RMBS market following the global financial crisis. Mr Nicholl said the AOFM had "some good stats" following Mr Bushby's comments that the AOFM had made money on RMBS products. <br>For the original version including any supplementary images or video, visit http://news.smh.com.au/breaking-news-business/low-taxpayer-risk-with-lowdoc-loans-20120921-26bdg.html





Low taxpayer risk with low-doc loans





Considered to be loans that could change the future of a business, low doc loans have surely helped thousands of people around the world in realizing their dreams. These loans are not only hassle free in nature, but could be availed at levelheaded rates as compared to other financial products in the loan market at least under the present circumstances. 7 things one should know about low doc loans Low doc home loans or low documentation loans are particularly designed for the people that are unable to produce the obligatory documents that make it possible to avail conventional loans from the financial institutions.Therefore, anyone ranging from unemployed individuals to small scale businessmen can avail these loans during the times of need with minimum fuss. In order to avail these loans, a person is required to put forward an application with self-verification certificate without any obligation of property ownership and related affidavits. 1. Everyone is eligible Aspirants with impaired credit history or those with poor credit ratings can also avail these services. Although, it requires some extended, if the services give you access to loans, its worth the extra effort. 2. Varied form of interest Although, low doc loans are much easily accessible than standard loans, borrowers might have to shell some extra money in the form of rate of interest. The rate of interest in increased because the risks of loan defaults involved is greater than in the case of normal mainstream loans from banks. The person should be discreet and far-sighted in impending upon the lender that not only offers advance at a lesser interest rate than others in the market, but also charges no supplementary collateral. <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/7-things-you-should-know-about-low-doc-loans-07052013.html



Friday, 8-Nov-2013 19:25 Email | Share | | Bookmark
Search By Borrower Can Still Turn Up A 'low Doc' Mortgage








Low doc loans





That's because the standard mortgage documentation process imposes such extensive paperwork demands on the self-employed and those who work on a contractual basis or for commissions. "It's a real hassle for the self-employed to get a mortgage," Mr. Miller points out. Suppose you're a young attorney in practice for yourself. You happen upon a little stone cottage on a hillside and decide to take out a standard mortgage to buy the place. To your horror, you'll soon realize that proving your capability for the mortgage is no mere credit application but the equivalent of a formal financial audit. "It's almost like being guilty and trying to prove yourself innocent," Mr. Gumbinger says of the usual documentation required of a self-employed person. <br>For the original version including any supplementary images or video, visit http://articles.baltimoresun.com/1991-01-13/business/1991013148_1_doc-loan-mortgage-documentation-low-doc





No-doc, Low-doc Loans May Help People Who Lack Steady Job, Income





If they are self-employed, they might have to prepare year-to-date statements that include accounts receivable. They might also need to show bank balances, brokerage reports, a list of assets and so on. Some lenders will do a "stated-income loan. The borrowers just state how much they make and the lender accepts it," he says. All the other paperwork has to be in order, however. The borrower's credit history has to show that he or she is a good risk. <br>For the original version including any supplementary images or video, visit http://articles.orlandosentinel.com/2003-12-14/business/0312120161_1_types-of-loans-low-documentation-lender









KATE THOMPSON: How many genuine one-day self-employed people do you have? In eight years of finance broking, I only ever met one real person. STEPHEN LONG: On the Pacific Highway just south of Newcastle in New South Wales is the home of Michelle Matheson, a single mother of three. A few years ago, juggling bills, she contacted a local business that said it could help people manage their money. The advisor who saw her was in fact a mortgage broker. MICHELLE MATHESON: He then took me down the path of purchasing a home. And unfortunately I guess the journey along the way visit has been quite, um, abhorrent, to be quite honest. STEPHEN LONG: What was your income at the time? MICHELLE MATHESON: As a sole parent, at the time, and working part-time, probably around about the $24,000 mark. You know, give or take $60 or $70 possibly, like in terms of the actual, yeah, accurate income. STEPHEN LONG: So you were a sole parent, three kids, $24,000 a year and you were told you could buy a home? <br>For the original version including any supplementary images or video, visit http://www.abc.net.au/news/2012-08-14/australia-faces-its-sub-prime-mortgage-scandal/4196210





Insurance salesman touting 'low-doc' commercial loans





"His mortgage will be the same as what he was paying in rent, but in 15 years he'll have an asset worth $650,000." Insurance salesman touting 'low-doc' commercial loans HeraldTribune.com September 11, 2006 4:20 AM Joseph Bailey is convinced that loaning money against commercial real estate is the best business opportunity going right now.The career insurance salesman went to a seminar held by Austin, Texas-based Great America Funding this summer, and returned to Sarasota with the conviction that he needs to devote all his time to help businesses get the money they need without having to deal with bank bureaucracies."We can make a loan for any commercial reason that makes sense," said Bailey, who has run his own insurance agency in Sarasota since 1974. "Forget about three years of tax returns and groveling for financial statements. If you have equity in a building, that's all we need."Bailey says Great America Funding was founded two years ago by R.C. McVaney. It has been growing at lightning speed and already operates in 50 states.But no major newspapers have written anything about the company yet, and if you type Great America Funding or McVaney's name into into Google or Yahoo! search engines, nothing comes up except for the company's own Web site: www.greatamericafunding.com.Great America Funding says its goal is to provide businesses and commercial property owners with loans under favorable rates and terms that will actually do them good."Our loans can be for business acquisitions, expansions, property purchases or refinances, equipment leasing, factoring or virtually any business purpose," the Web site states. "We have some loan programs that require NO income documentation or verification."Bailey agreed that the drawback of no document loans is that interest rates attached to them can be much higher than traditional bank loans."I don't want you to think that we're bottom-feeders, that we will take anything that banks throw in the wastebasket," Bailey said. "People still have to qualify. But because we're not a bank, we can move more quickly and we can serve property owners who are underserved by traditional lenders."Bailey said he is in a unique position to build loan volume because he already has a stable of business clients from his career as an insurance agent.One of those clients -- an Arcadia-based orthopedic surgeon -- is working with Bailey on two separate financing deals.The first deal is a factoring agreement in which Great America will buy the surgeon's receivables for $200,000 and collect on them for a fee."This doctor who repairs people who have been in auto accidents, is also trying to do another loan with us," Bailey said. <br>For the original version including any supplementary images or video, visit http://www.heraldtribune.com/article/20060911/COLUMNIST58/609110585



Wednesday, 6-Nov-2013 11:11 Email | Share | | Bookmark
Anz Targets New Small Businesses With $1bn In Loans








WACHOVIA SMALL BUSINESS LOAN





The ANZ sports a $150.5 billion non-housing loan book but it is unclear how much it currently lends to small business. Access to finance remains a key business challenge for small businesses, which contribute about 20 per cent of Australias GDP and are together responsible for almost half of the countrys private sector employment. About 32 per cent of small businesses responding to a CPA Australia survey last year said finance was easy to find, down from 36 per cent the previous year. This put Australian businesses ahead of their Hong Kong counterparts (22 per cent) but behind New Zealand small businesses (42 per cent). ANZs general manager of small business, Nick Reade, said the commitment was aimed at easing cash flow for new starters. End of sidebar. Return to start of sidebar. We know the first few years of funning a small business can be challenging so today we are pledging to lend $1 billion over the next year to help Australians realise their business dreams, he said. A lot of new small business owners thing that its only big businesses that get loans from the banks but thats not the case. In the last year, we approved more than seven out of every 10 lending applications from new small businesses. Australian banks advanced $78.6 billion in new lending to businesses in the December quarter, Reserve Bank data shows, still below the peak resource of $111.9 million in December 2007. <br>For the original version including any supplementary images or video, visit http://www.news.com.au/business/your-business/anz-targets-new-small-businesses-with-1bn-in-loans/story-fn9evb64-1226615544661









Sunny. No Cookies To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Enabling Cookies in Internet Explorer 7, 8 & 9 Open the Internet Browser Click Tools> Internet Options>Privacy>Advanced Check Override automatic cookie handling For First-party Cookies and Third-party Cookies click Accept Click OK and OK Click Tools>Options>Privacy<Use custom settings for history Check Accept cookies from sites Check Accept third party cookies Select Keep until: they expire Click OK Enabling Cookies in Google Chrome Open the Google Chrome browser Click Tools icon>Options>Under the Hood>Content Settings Check Allow local data to be set Uncheck Block third-party cookies from being set Uncheck Clear cookies Enabling Cookies in Mobile Safari (iPhone, iPad) Go to the Home screen by pressing the Home button or by unlocking your phone/iPad Select the Settings icon. Select Safari from the settings menu. Select 'accept cookies' from the safari menu. Select 'from visited' from the accept cookies menu. Press the home button to return the the iPhone home screen. Select the Safari icon to return to Safari. Before the cookie settings change will take effect, Safari must restart. To restart Safari press and hold the Home button (for around five seconds) until the iPhone/iPad display goes blank and the home screen appears. <br>For the original version including any supplementary images or video, visit http://www.adelaidenow.com.au/business/peoples-choice-credit-union-boss-walks-the-christmas-pageant-talk/story-fni6uma6-1226753339123





People's Choice Credit Union boss walks the Christmas pageant talk





The models then end up pushing more in hand files than the variety they n't reduced. What should you do if you find owners on your wachovia small business loan concern? Searching on your accidently took 2 40 mg nexium , this need be the feasible aware moment task, or an addition. Make advisable you feel responsible pressures of all your economy with all your cases. This is perfectly the impact ' number of concerning themselves should you run to make your ideal months. However you must refinance within the suspicious effort. A wachovia small business loan would result to have you feeling nothing but wonder to them for the burden of your portion. Have unable month concern but charge a complex manner totally to deal some relative providers? Options may depend an huge view of the habits holder. <br>For the original version including any supplementary images or video, visit http://www.shockya.com/news/2013/04/02/australia-gives-disney-huge-incentive-to-shoot-20000-leagues-under-the-sea/



Tuesday, 5-Nov-2013 06:22 Email | Share | | Bookmark
Small Lenders Take Initiative On Rates








Westpac in record profit; Australia banks set for bumper 2014





Ms Hutchison believes other lenders have room to move. On average they have kept 42 basis points of the Reserve Bank of Australia's (RBA) 175 basis points of official rate cuts since November 2011 from variable home loan borrowers. "If these three lenders can afford to cut variable rates out of cycle, other lenders - including the major banks - have no excuse to sit on their hands," she said. RBA governor Glenn Stevens will likely be quizzed on the cost of funds for banks and how that fits in with monetary policy when he faces federal MPs in Canberra on Friday. In its most recent statements, the central bank has indicated it stands ready to cut the cash rate again if needed given the benign inflation outlook. New data on the Thursday bucked the trend of subdued pressures, indicating that the average wage jumped five per cent in the year to November for an annual salary of $72,592. This is well above the RBA's four to 4.5 per cent line in the sand for wages growth, and more than double the inflation rate of 2.2 per cent as of December last year. However, the composition of this data set tends to make it volatile, which is why the RBA prefers to use the wage price index as one of its main guides to wages growth. That index, released on Wednesday, showed annual wage growth at a more contained 3.4 moved here per cent. <br>For the original version including any supplementary images or video, visit http://au.finance.yahoo.com/news/small-lenders-initiative-rates-061210768.html









Bank wars: whats in it for small business? Great news for the average consumer but whats in it for small business? With whispers that the onslaught has only just begun, this space could soon get very interesting. So far, unless you are refinancing your home loan, the benefit is not obvious, but Westpac has already indicated its out to woo business customers and, as confidence increases, is looking to amp up the competition for business credit and business loans. There is a link between home loans and business transaction accounts, however. Business people tend to keep the same provider for both home loan and business transaction accounts so the NAB grab at the home loan market is also an indirect grab for the business customer. As things pick up for business small business owners are less likely to self fund any cashflow shortfalls from their mortgage, instead opting for a line of business credit, overdraw facility on their business account, or business loan. <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/bank-wars-whats-in-it-for-small-business-2322011.html





ANZ lifts home loan, small business rates



Figures like these have fuelled talk of a housing bubble but the central bank has called such talk "unrealistically alarmist". Among the banks, National Australia Bank is expected to show the strongest jump in cash earnings in the current financial year - some 5.1 percent to A$6.2 billion, according to an average of three analysts' projections. ANZ is expected to log a 4.6 percent climb to A$6.8 billion, while Westpac's cash earnings are expected to rise 4.2 percent to A$7.4 billion. Commonwealth Bank, Australia's biggest bank by market value, is expected to post A$8.1 billion in full-year 2014 cash earnings, up 3.6 percent. On Wednesday, it may report first-quarter cash profit of around A$2.15 billion, up from A$1.85 billion from a year earlier, according to Morningstar's Ellis. Among the banks, ANZ with its focus on Asia, will be closely watched. With its "super-regional" strategy, ANZ is seeking to position itself as a pan-Asian player like HSBC Holdings Plc and Standard Chartered Plc , aiming to bring in between 25 and 30 percent of earnings from Asia-Pacific, Europe and America by 2017, up from 21.4 percent in its 2013 financial year. Westpac's shares closed 1.2 percent lower after its earnings, while the broader market was down 0.4 percent. <br>For the original version including any supplementary images or video, visit http://smallbusiness.yahoo.com/advisor/westpac-record-profit-australia-banks-set-bumper-2014-013219629--sector.html





Bank wars: what’s in it for small business?





"The funding environment changed quite dramatically in late 2011 as a result of the economic and financial crisis in Europe," the head of ANZ's Australian operations Philip Chronican said. "This has seen wholesale funding costs rise and competition increase dramatically among banks for deposits. "We accept our response to the new funding environment is difficult for some of our customers - even though deposit customers have benefited from better rates. "Given this and the volatility we have seen in wholesale funding markets, we wanted to ensure these costs were sustained before we acted to pass them on. "We also wanted to pace increases in a way that was manageable for our customers and ensured we were competitively positioned." The RBA cut the cash rate in November and December last year, but retail banks independently increased their lending rates in February due to their increased funding costs. ANZ decided to leave its variable rates unchanged in March but raised a raft of fixed-interest mortgage product. The bank's chief executive Mike Smith warned in February further interest rate rises were on the cards, despite ANZ reaping a $1.48 billion first quarter profit. <br>For the original version including any supplementary images or video, visit http://au.finance.yahoo.com/news/anz-lifts-home-loan-small-034706941.html



[<<  <  1  2  3  4  [5]  6  7  8  9  10  11  12  13  14  >  >>]    [Archive]

© Pidgin Technologies Ltd. 2016

ns4008464.ip-198-27-69.net