Costa Mesa, Calif.-based ibank has created a commercial lending search engine that allows small businesses to find lenders and brokers based on four search criteria.The criteria act as a filter, which allows lenders to target their marketing dollars only to those small businesses seeking their products, iBank said. The new engine allows small businesses to search up to 85 different types of small-business loan, equipment leasing, and commercial and home mortgage loan. Lenders can reach these small businesses in three ways: the Organic Lender List, which is composed of information taken online from lender websites by the iBank website's Web crawler; the Classified Campaign Lender, composed of lenders who pay for placement in the classified section of the search engine; and the Premier Campaign Lender, which consists of lenders who have taken a more active approach by registering with iBank's website and creating targeted campaigns that deliver hot prospects directly to their computers each day. The company can be found online at http://www.ibank.com.
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CrossCountry Capital will partner with an Ares Alternative Credit fund and Hildene Capital Management after receiving $1 billion of equity capital commitments.
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The 30-year fixed rate mortgage was down another 9 basis points this week, Freddie Mac said, but much of this pricing was before the Federal Reserve meeting.
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Whereas AI can supercharge returns on investment in fulfillment and databases, the tech may also replace your entire staff, experts warned.
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The company will now consider loans up to $819,000 as government-sponsored enterprise-eligible, even though it cannot sell them to the agencies until Jan. 1.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
September 17