HOW can banks attract you? What would the perfect bank look like and do to get your attention?
Q. Of course the obvisious answer would be MONEY. Everyone would love to bank or open an account with a bank that gives free money. But lets put money aside for one second. What other ways can a bank get your attention and get you to be one of their customers? Lets start with products. Free checking, no atm fees, extended hours, better interest rates, no fees for overdraft or even give excellent customer service, etc... How can a bank better serve you? Now what about activities, giveaways, or promotions can a bank do to attract you? For example, kids events, charitity events, pens, sport bottles, food, vacation packages, gift certificates, etc... What kind of trinkets or goodies do you like to recieve from companies? So lets hear it people!!… [cont.]
Asked by Banks.?s.to.the.world - Thu Apr 26 00:53:08 2007 - - 2 Answers - 0 Comments
A. Free checking, no atm fees, extended hours, better interest rates & no fees for overdraft - all these features combined would do it for me. I've been with my bank for over 20 yrs and don't get these features. Community events just attract attention. If you don't have the plan features, no matter what give-aways you offer, you won't attract business. Now are you in a rural area or city? Are you looking to attract individual accounts or business. Which according to your business model are more profitable for you? This will determine what types of give- away items you'll want to consider.
Answered by shadow - Wed May 2 17:13:26 2007
Q. Of course the obvisious answer would be MONEY. Everyone would love to bank or open an account with a bank that gives free money. But lets put money aside for one second. What other ways can a bank get your attention and get you to be one of their customers? Lets start with products. Free checking, no atm fees, extended hours, better interest rates, no fees for overdraft or even give excellent customer service, etc... How can a bank better serve you? Now what about activities, giveaways, or promotions can a bank do to attract you? For example, kids events, charitity events, pens, sport bottles, food, vacation packages, gift certificates, etc... What kind of trinkets or goodies do you like to recieve from companies? So lets hear it people!!… [cont.]
Asked by Banks.?s.to.the.world - Thu Apr 26 00:53:08 2007 - - 2 Answers - 0 Comments
A. Free checking, no atm fees, extended hours, better interest rates & no fees for overdraft - all these features combined would do it for me. I've been with my bank for over 20 yrs and don't get these features. Community events just attract attention. If you don't have the plan features, no matter what give-aways you offer, you won't attract business. Now are you in a rural area or city? Are you looking to attract individual accounts or business. Which according to your business model are more profitable for you? This will determine what types of give- away items you'll want to consider.
Answered by shadow - Wed May 2 17:13:26 2007
How do Banks decide when to offer an overdraft and when to increase it?
Q. I've been told that it has to do with the banks 'coursing' information that they hold on you as a customer. Is this true? How exactly does it work? Do they share information with other banks in this respect? Do you run the risk of being refused an overdraft if a bank credit checks you and see's that you have too many other overdrafts?
Asked by Keith W - Wed Oct 24 08:29:28 2007 - - 3 Answers - 0 Comments
A. Bank offers overdraft to anyone who has an account with that particular bank. It doesn't cost anything to enroll. However, when you overdraft your checking account, they either transfer the money from your savings account or your credit card to cover the shortage. The fee for transfer is $10 but they will charge you at the ATM or cash advance rate normally 19.99% or 21.24% depends on your credit. If you have a relationship with your bank, they may waive one overdraft fee as a courtersy. If it happened too often, they won't. Banks do share info with other banks. For instance, if you transfer balances from one bank to another too often (one or twice wouldn't be so bad but to do it everytime the promo rate runs out to avoid paying… [cont.]
Answered by Andie - Wed Oct 24 09:46:25 2007
Q. I've been told that it has to do with the banks 'coursing' information that they hold on you as a customer. Is this true? How exactly does it work? Do they share information with other banks in this respect? Do you run the risk of being refused an overdraft if a bank credit checks you and see's that you have too many other overdrafts?
Asked by Keith W - Wed Oct 24 08:29:28 2007 - - 3 Answers - 0 Comments
A. Bank offers overdraft to anyone who has an account with that particular bank. It doesn't cost anything to enroll. However, when you overdraft your checking account, they either transfer the money from your savings account or your credit card to cover the shortage. The fee for transfer is $10 but they will charge you at the ATM or cash advance rate normally 19.99% or 21.24% depends on your credit. If you have a relationship with your bank, they may waive one overdraft fee as a courtersy. If it happened too often, they won't. Banks do share info with other banks. For instance, if you transfer balances from one bank to another too often (one or twice wouldn't be so bad but to do it everytime the promo rate runs out to avoid paying… [cont.]
Answered by Andie - Wed Oct 24 09:46:25 2007
What banks in Virginia dont make you deposit money to open it?
Q. Im trying to open up and new bank account so half of my direct deposit can go in that and i can save. Anybody know what banks dont make u deposit any or not alot of money?
Asked by PrettyBoi - Thu Oct 18 19:23:17 2007 - - 3 Answers - 0 Comments
A. Look into an account at the Virginia Credit Union. You need to maintain a minimum of $5 in your accounts. To earn interest, you must have at least $100. The Virginia Credit Union may have fewer locations, but since they are a credit union they will work with you more and, down the road, they offer guaranteed loans with fixed rates. They offered me the best rate on a car loan and they also split the automatic withdrawal into two monthly half payments. Good luck!
Answered by rec4lms - Sat Oct 20 08:42:06 2007
Q. Im trying to open up and new bank account so half of my direct deposit can go in that and i can save. Anybody know what banks dont make u deposit any or not alot of money?
Asked by PrettyBoi - Thu Oct 18 19:23:17 2007 - - 3 Answers - 0 Comments
A. Look into an account at the Virginia Credit Union. You need to maintain a minimum of $5 in your accounts. To earn interest, you must have at least $100. The Virginia Credit Union may have fewer locations, but since they are a credit union they will work with you more and, down the road, they offer guaranteed loans with fixed rates. They offered me the best rate on a car loan and they also split the automatic withdrawal into two monthly half payments. Good luck!
Answered by rec4lms - Sat Oct 20 08:42:06 2007
How do banks force collections on countries that owe them money?
Q. All countries, including the U.S., have a national debt, which they owe to banks, right? So how do banks collect the money that's owed to them from all these countries?
Asked by CrO4^2- - Tue Jun 3 15:40:53 2008 - - 1 Answers - 0 Comments
A. Typically, may even be in all cases, countries receive loans through the World Bank. The link below describes what the World Bank does and how it works.
Answered by tudorjason (matt) - Tue Jun 3 16:05:33 2008
Q. All countries, including the U.S., have a national debt, which they owe to banks, right? So how do banks collect the money that's owed to them from all these countries?
Asked by CrO4^2- - Tue Jun 3 15:40:53 2008 - - 1 Answers - 0 Comments
A. Typically, may even be in all cases, countries receive loans through the World Bank. The link below describes what the World Bank does and how it works.
Answered by tudorjason (matt) - Tue Jun 3 16:05:33 2008
What are the requirements for central banks to print money?
Q. What do banks have to do in order to print money? In what circumstances do banks print money? Are there any times when banks absorb back money instead of printing more?
Asked by v V - Sat Sep 20 13:17:35 2008 - - 2 Answers - 0 Comments
A. In the USA, I think, only the Federal Mint may print money
Answered by sassy25 - Sat Sep 20 13:21:11 2008
Q. What do banks have to do in order to print money? In what circumstances do banks print money? Are there any times when banks absorb back money instead of printing more?
Asked by v V - Sat Sep 20 13:17:35 2008 - - 2 Answers - 0 Comments
A. In the USA, I think, only the Federal Mint may print money
Answered by sassy25 - Sat Sep 20 13:21:11 2008
What do banks determine when giving a student there first credit card?
Q. If they have no credit scores yet, how do banks determine to give a student there first credit card?
Asked by Love - Mon Nov 24 20:16:45 2008 - - 4 Answers - 0 Comments
A. they look at job history check out www.fastcreditcardapprova ls.com under student cards.
Answered by Brutus - Tue Nov 25 01:53:55 2008
Q. If they have no credit scores yet, how do banks determine to give a student there first credit card?
Asked by Love - Mon Nov 24 20:16:45 2008 - - 4 Answers - 0 Comments
A. they look at job history check out www.fastcreditcardapprova ls.com under student cards.
Answered by Brutus - Tue Nov 25 01:53:55 2008
What happens when the banks fail despite government intervention?
Q. The government has given billions of dollars to banks that it called too big to fail. What happens if the banks fail anyway? Will the government keep doling out taxpayer dollars? Were will it end?
Asked by gerafalop - Sat May 2 07:00:35 2009 - - 15 Answers - 0 Comments
A. The Taxpayer will be trillions of dollars in debt and nothing will have been fixed. That's why doing nothing would have been just as effective as wasting all the money. The money needed to to go to the consumer to keep the economy going, No use making the product on credit if no one can afford to buy it.
Answered by unknown - Sat May 2 09:05:07 2009
Q. The government has given billions of dollars to banks that it called too big to fail. What happens if the banks fail anyway? Will the government keep doling out taxpayer dollars? Were will it end?
Asked by gerafalop - Sat May 2 07:00:35 2009 - - 15 Answers - 0 Comments
A. The Taxpayer will be trillions of dollars in debt and nothing will have been fixed. That's why doing nothing would have been just as effective as wasting all the money. The money needed to to go to the consumer to keep the economy going, No use making the product on credit if no one can afford to buy it.
Answered by unknown - Sat May 2 09:05:07 2009
What do Banks use to determine your worthiness for a credit card?
Q. When you apply for a credit card, what are the most important factors to have for getting a card and having a decent credit limit. I was just wondering if anyone knows what Banks look for and what factors help?? Thanks in advance!
Asked by *LiL E* - Thu Jul 10 23:21:31 2008 - - 2 Answers - 0 Comments
A. Well, they usually look at your FICO score... B/c really, take this: when you apply online for a credit card, say AMEX, and they say, we'll give you an "instant decision in 30 seconds." Well, does the automated computer system take into consideration that you're doing good on this credit card, or you're paying good on this car payment? No, they don't. The online system does not look at the specifics... Also, when you put yearly income, you can put basically whatever you want, because they (the credit card company) are legally not able to ask your employer your income. So, go ahead, add an additional $15,000 to your annual income. Oh, if you're new to credit, Capital One is good at giving credit cards to new credit customers. Good… [cont.]
Answered by dROCK - Thu Jul 10 23:50:35 2008
Q. When you apply for a credit card, what are the most important factors to have for getting a card and having a decent credit limit. I was just wondering if anyone knows what Banks look for and what factors help?? Thanks in advance!
Asked by *LiL E* - Thu Jul 10 23:21:31 2008 - - 2 Answers - 0 Comments
A. Well, they usually look at your FICO score... B/c really, take this: when you apply online for a credit card, say AMEX, and they say, we'll give you an "instant decision in 30 seconds." Well, does the automated computer system take into consideration that you're doing good on this credit card, or you're paying good on this car payment? No, they don't. The online system does not look at the specifics... Also, when you put yearly income, you can put basically whatever you want, because they (the credit card company) are legally not able to ask your employer your income. So, go ahead, add an additional $15,000 to your annual income. Oh, if you're new to credit, Capital One is good at giving credit cards to new credit customers. Good… [cont.]
Answered by dROCK - Thu Jul 10 23:50:35 2008
What are the best banks for first-time homebuyers to use for getting a mortgage?
Q. My husband and I are going to be first-time homebuyers and we would like to know what banks are the best for great rates. Also which banks are fair regarding fees and which provide the best services to first-time homebuyers?
Asked by Anita - Thu Mar 1 20:56:03 2007 - - 11 Answers - 0 Comments
A. oh no! not another of my long, drawn out answers, again! but: good for you! please go to the aarp.com site to see how buying a home is THE way to build wealth in the united states. buy for location, location, location. i'm surprised that nobody mentioned that a Realtor (r) can advise you which lenders she has personally closed deals with in the past year or so. depending on your circumstances, she will explain why she recommends one over another. another great source is your credit union, if you have one. some municipalities offer affordable housing programs for first time buyers, whereby they may allot so many percent of the purchase price (2-3% maybe) so that your downpayment would be higher than is usual these days--what [cont.]
Answered by Louiegirl_Chicago - Thu Mar 1 23:36:30 2007
Q. My husband and I are going to be first-time homebuyers and we would like to know what banks are the best for great rates. Also which banks are fair regarding fees and which provide the best services to first-time homebuyers?
Asked by Anita - Thu Mar 1 20:56:03 2007 - - 11 Answers - 0 Comments
A. oh no! not another of my long, drawn out answers, again! but: good for you! please go to the aarp.com site to see how buying a home is THE way to build wealth in the united states. buy for location, location, location. i'm surprised that nobody mentioned that a Realtor (r) can advise you which lenders she has personally closed deals with in the past year or so. depending on your circumstances, she will explain why she recommends one over another. another great source is your credit union, if you have one. some municipalities offer affordable housing programs for first time buyers, whereby they may allot so many percent of the purchase price (2-3% maybe) so that your downpayment would be higher than is usual these days--what [cont.]
Answered by Louiegirl_Chicago - Thu Mar 1 23:36:30 2007
How do investment banks (Goldman and Morgan Stanley) accept deposits?
Q. According to today's (Sept 22) NY Times, "Both banks already have limited retail deposit-taking businesses, which they plan to expand over time. Morgan Stanley had $36 billion in retail deposits as of Aug. 31 and Goldman Sachs had $20 billion in deposits. " I thought that ony banks could accept deposits, not investment banks. (Obviously this will be different after they convert themselves to bank holding companies, as now planned.) Under current law, how are Goldman and Morgan Stanley able to accept deposits? They do offer money market mutual funds, but these are uninsured investments, not "deposits". Thanks.
Asked by Erik - Mon Sep 22 05:50:46 2008 - - 1 Answers - 0 Comments
A. they do it through subsidiaries and employee deposits
Answered by NYC_Since_the_90s - Tue Sep 23 09:25:49 2008
Q. According to today's (Sept 22) NY Times, "Both banks already have limited retail deposit-taking businesses, which they plan to expand over time. Morgan Stanley had $36 billion in retail deposits as of Aug. 31 and Goldman Sachs had $20 billion in deposits. " I thought that ony banks could accept deposits, not investment banks. (Obviously this will be different after they convert themselves to bank holding companies, as now planned.) Under current law, how are Goldman and Morgan Stanley able to accept deposits? They do offer money market mutual funds, but these are uninsured investments, not "deposits". Thanks.
Asked by Erik - Mon Sep 22 05:50:46 2008 - - 1 Answers - 0 Comments
A. they do it through subsidiaries and employee deposits
Answered by NYC_Since_the_90s - Tue Sep 23 09:25:49 2008
Can the recent injections of liquidity by central banks increase inflation in the near term?
Q. Too much easy money is what led to skyrocketing house prices and the current financial troubles in the economy. And this makes me wonder if the huge loans central banks gave to private banks in the last couple of days are only going to prolong this situation and perhaps make it worse in the long run? Private banks will hide their bad loans for a while longer and perhaps even lend some more to people who can't pay. But in the end they'll have to come clean anyway?
Asked by Nick Z - Fri Aug 10 13:36:28 2007 - - 6 Answers - 0 Comments
A. You are certainly more knowledgable than most people about the problem. Yes. The Fed created the problem and they will do everything they can to see if they can mitigate their previous screw up. They will probably just make things worse in the long run.
Answered by muncie birder - Fri Aug 10 13:47:12 2007
Q. Too much easy money is what led to skyrocketing house prices and the current financial troubles in the economy. And this makes me wonder if the huge loans central banks gave to private banks in the last couple of days are only going to prolong this situation and perhaps make it worse in the long run? Private banks will hide their bad loans for a while longer and perhaps even lend some more to people who can't pay. But in the end they'll have to come clean anyway?
Asked by Nick Z - Fri Aug 10 13:36:28 2007 - - 6 Answers - 0 Comments
A. You are certainly more knowledgable than most people about the problem. Yes. The Fed created the problem and they will do everything they can to see if they can mitigate their previous screw up. They will probably just make things worse in the long run.
Answered by muncie birder - Fri Aug 10 13:47:12 2007
How do I stop random banks from e-mailing me with a security alert and asking me to update my personal details?
Q. I keep getting e-mails from different banks, Lloyds, Alliance & Lester, Abbey National, Egg etc. I have never applied to or contacted any of these banks. How do I stop it and are they dangerous to open.
Asked by clueless - Thu Jul 9 13:24:24 2009 - - 4 Answers - 0 Comments
A. These emails are designed to acquire your personal user name and passwords for your account. They are usually mass emailed to everyone in hopes someone will actually respond and put in their user info to update then they use it to drain your account. Some may actually contain trojan horse programs or viruses used to attain your personal information and use on your own accounts. Do not open or respond to any of them. Delete them asap
Answered by unknown - Thu Jul 9 13:32:07 2009
Q. I keep getting e-mails from different banks, Lloyds, Alliance & Lester, Abbey National, Egg etc. I have never applied to or contacted any of these banks. How do I stop it and are they dangerous to open.
Asked by clueless - Thu Jul 9 13:24:24 2009 - - 4 Answers - 0 Comments
A. These emails are designed to acquire your personal user name and passwords for your account. They are usually mass emailed to everyone in hopes someone will actually respond and put in their user info to update then they use it to drain your account. Some may actually contain trojan horse programs or viruses used to attain your personal information and use on your own accounts. Do not open or respond to any of them. Delete them asap
Answered by unknown - Thu Jul 9 13:32:07 2009
How did the banks recover stolen money from a robbery before the FDIC insured days?
Q. I remember reading about how the Ashley gang from the 1920s got away with 4,500 dollars and 18,000 in securities. This, of course, was long before FDIC where which guarantees the safety of deposits in member banks, currently up to $250,000 per depositer. How did the banks before FDIC recover money in the event of a robbery, like the Ashley gang robbery, or a bank run? Did the bank immediately go under?
Asked by Daphne - Sat May 16 01:26:59 2009 - - 5 Answers - 0 Comments
A. FDIC has nothing to do with funds lost to a robbery. It only covers depositors for their losses in the event the bank becomes insolvent and has to be closed. Banks have separate insurance to cover losses from robbery or fraud. They have a deductible they have to pay and then the insurance company covers the remainder of the loss. They pay a regular premium, just as with any other type of casualty insurance.
Answered by doreen k - Tue May 19 00:37:32 2009
Q. I remember reading about how the Ashley gang from the 1920s got away with 4,500 dollars and 18,000 in securities. This, of course, was long before FDIC where which guarantees the safety of deposits in member banks, currently up to $250,000 per depositer. How did the banks before FDIC recover money in the event of a robbery, like the Ashley gang robbery, or a bank run? Did the bank immediately go under?
Asked by Daphne - Sat May 16 01:26:59 2009 - - 5 Answers - 0 Comments
A. FDIC has nothing to do with funds lost to a robbery. It only covers depositors for their losses in the event the bank becomes insolvent and has to be closed. Banks have separate insurance to cover losses from robbery or fraud. They have a deductible they have to pay and then the insurance company covers the remainder of the loss. They pay a regular premium, just as with any other type of casualty insurance.
Answered by doreen k - Tue May 19 00:37:32 2009
Which of the following most accurately describes what banks do with their excess reserves?
Q. Which of the following most accurately describes what banks do with their excess reserves? A. Banks keep excess reserves on hand to meet customer's demands for withdrawals during a bank run. B. Banks invest excess reserves in the currency exchange market in order to stabilize their nation's currency. C. Banks use excess reserves to make loans to customers so that they can make profits on the interest. D. Banks spend excess reserves on expenses such as rent and salaries that are related to operating the bank.
Asked by Dina - Wed Apr 30 03:15:50 2008 - - 1 Answers - 0 Comments
A. The correct answer should be option C. Excess reserves are used to make loans to their customers so that they can make profits on the interest.
Answered by Baobaku - Wed Apr 30 09:50:41 2008
Q. Which of the following most accurately describes what banks do with their excess reserves? A. Banks keep excess reserves on hand to meet customer's demands for withdrawals during a bank run. B. Banks invest excess reserves in the currency exchange market in order to stabilize their nation's currency. C. Banks use excess reserves to make loans to customers so that they can make profits on the interest. D. Banks spend excess reserves on expenses such as rent and salaries that are related to operating the bank.
Asked by Dina - Wed Apr 30 03:15:50 2008 - - 1 Answers - 0 Comments
A. The correct answer should be option C. Excess reserves are used to make loans to their customers so that they can make profits on the interest.
Answered by Baobaku - Wed Apr 30 09:50:41 2008
How much do banks make when they sell loans on the secondary market?
Q. Banks take their loans and bundle them together and sell them on the secondary market. What is the average fee they make on a typical transaction? What is key to understanding how this works?
Asked by j_patmor - Mon Apr 24 00:51:11 2006 - - 1 Answers - 0 Comments
A. as a mortgage broker, I would say that the fee can range a great deal. The fee could range from as small as a fraction of a percent to as high as possibly 8%. Also, things vary such as holding times, ie, who gets the interest and for how long, what happens if the paper defaults or pays off early, what happens if fraud is detected or suspected. Sorry, I can't be more exact, but it really depends also on the coupon rate. The subprime paper is what is bringing more money, due to higher interest rate spreads. However, even these spreads are decreasing in the tough market.
Answered by hedgefundinvesting@yahoo.com - Mon Apr 24 00:54:20 2006
Q. Banks take their loans and bundle them together and sell them on the secondary market. What is the average fee they make on a typical transaction? What is key to understanding how this works?
Asked by j_patmor - Mon Apr 24 00:51:11 2006 - - 1 Answers - 0 Comments
A. as a mortgage broker, I would say that the fee can range a great deal. The fee could range from as small as a fraction of a percent to as high as possibly 8%. Also, things vary such as holding times, ie, who gets the interest and for how long, what happens if the paper defaults or pays off early, what happens if fraud is detected or suspected. Sorry, I can't be more exact, but it really depends also on the coupon rate. The subprime paper is what is bringing more money, due to higher interest rate spreads. However, even these spreads are decreasing in the tough market.
Answered by hedgefundinvesting@yahoo.com - Mon Apr 24 00:54:20 2006
How can banks get away with applying extra principal payments to future payments not yet due?
Q. This is happening to me and several friends. Payments made to principal on a current loan get applied to future payments instead of going to principal. This way the bank not only has your money but is charging you interest on the loan. If you call the bank they say they can't do anything about it once it gets into the computer. This has happened with my credit union and several friends banks. They are all different companies.
Asked by solarmoon3 - Thu Jul 17 00:55:14 2008 - - 4 Answers - 0 Comments
A. I have heard of this happening many times. The best way to handle this situation is to go to the bank/credit union in person and specifically tell the person taking the payment that you want it applied to the principal. Give it a minute and tell them again! Make sure it sinks in! If you can't go into the bank/CU, on your payment stub in big dark letters, write it out that payment should be applied to principal and make a copy of both the stub and your check before you send it. Always get proof. Then later, check your balance to verify that the principal was decreased by the amount that you wanted applied to it.
Answered by tmlinla28 - Thu Jul 17 01:03:52 2008
Q. This is happening to me and several friends. Payments made to principal on a current loan get applied to future payments instead of going to principal. This way the bank not only has your money but is charging you interest on the loan. If you call the bank they say they can't do anything about it once it gets into the computer. This has happened with my credit union and several friends banks. They are all different companies.
Asked by solarmoon3 - Thu Jul 17 00:55:14 2008 - - 4 Answers - 0 Comments
A. I have heard of this happening many times. The best way to handle this situation is to go to the bank/credit union in person and specifically tell the person taking the payment that you want it applied to the principal. Give it a minute and tell them again! Make sure it sinks in! If you can't go into the bank/CU, on your payment stub in big dark letters, write it out that payment should be applied to principal and make a copy of both the stub and your check before you send it. Always get proof. Then later, check your balance to verify that the principal was decreased by the amount that you wanted applied to it.
Answered by tmlinla28 - Thu Jul 17 01:03:52 2008
What kind of credit risk is involved with community banks?
Q. Say you know a guy who runs a community bank with a single branch. He is an integral part of the community and he lends only to the people that live within the community and has been doing it for decades. Is this a sound strategy? Sounds good to me, most banks are community banks and seems pretty easy to keep things in balance (you deposit he lends). What do you think?
Asked by nitre - Sun Nov 25 23:54:54 2007 - - 1 Answers - 0 Comments
A. That kind of lending, in which a member of the community lends only to people in the community, is extremely rare these days. Most banks only find it efficient to lend on verifiable, objective criteria (personal FICO scores, income verification, real estate appraisals) rather than local knowledge of members of a community. If you find a community lender, I'm impressed, because it is a rare phenomenon.
Answered by michaeltaylor0331 - Mon Nov 26 19:46:09 2007
Q. Say you know a guy who runs a community bank with a single branch. He is an integral part of the community and he lends only to the people that live within the community and has been doing it for decades. Is this a sound strategy? Sounds good to me, most banks are community banks and seems pretty easy to keep things in balance (you deposit he lends). What do you think?
Asked by nitre - Sun Nov 25 23:54:54 2007 - - 1 Answers - 0 Comments
A. That kind of lending, in which a member of the community lends only to people in the community, is extremely rare these days. Most banks only find it efficient to lend on verifiable, objective criteria (personal FICO scores, income verification, real estate appraisals) rather than local knowledge of members of a community. If you find a community lender, I'm impressed, because it is a rare phenomenon.
Answered by michaeltaylor0331 - Mon Nov 26 19:46:09 2007
What details do banks see when they do a credit check?
Q. I am applying for a mortgage and I am wondering what details banks see when thy do a credit check. Do they see who you own money and how much? Or do they just see like a numbered rating? Could you also please explain any terms that might come up, such as certain capacities and what all that means?
Asked by Wednesday - Thu Aug 17 06:04:17 2006 - - 5 Answers - 0 Comments
A. you need to get hold of your own report so you can see for yourself. Yes they see who you owe money to, how much, for how long and whether you are making the agreed repayments on time. I seem to remember there's a numbered rating for each month's repayments with, say, 0 indicating a late payment, 1 indicating payment made on time, etc. It will also list your county court judgments if any, and any defaults. But do get hold of your own report so you know what the bank will be seeing. It's only 2 from www.experian.co.uk
Answered by SLF - Thu Aug 17 06:32:37 2006
Q. I am applying for a mortgage and I am wondering what details banks see when thy do a credit check. Do they see who you own money and how much? Or do they just see like a numbered rating? Could you also please explain any terms that might come up, such as certain capacities and what all that means?
Asked by Wednesday - Thu Aug 17 06:04:17 2006 - - 5 Answers - 0 Comments
A. you need to get hold of your own report so you can see for yourself. Yes they see who you owe money to, how much, for how long and whether you are making the agreed repayments on time. I seem to remember there's a numbered rating for each month's repayments with, say, 0 indicating a late payment, 1 indicating payment made on time, etc. It will also list your county court judgments if any, and any defaults. But do get hold of your own report so you know what the bank will be seeing. It's only 2 from www.experian.co.uk
Answered by SLF - Thu Aug 17 06:32:37 2006
How do the banks and the GM company recover from the government bailouts?
Q. I've heard that some of the banks wanted to pay back their debt to the government for their bailouts, but the government wouldn't take the money - because the government is now the "top share holder" of their companies. (Something along those lines w/the share holder-aspect.)
Asked by zeruhn - Thu Jul 23 08:48:56 2009 - - 1 Answers - 0 Comments
A. Some banks have given back their tarp funds. The tarp funds were loans not stock purchase like in the case of GM. But the tarp funds had regulations on pay and bonuses that are causing concern in the banks. The government does not want the money until the banks start opening credit and make money a little more available.
Answered by Tom E - Thu Jul 23 14:09:13 2009
Q. I've heard that some of the banks wanted to pay back their debt to the government for their bailouts, but the government wouldn't take the money - because the government is now the "top share holder" of their companies. (Something along those lines w/the share holder-aspect.)
Asked by zeruhn - Thu Jul 23 08:48:56 2009 - - 1 Answers - 0 Comments
A. Some banks have given back their tarp funds. The tarp funds were loans not stock purchase like in the case of GM. But the tarp funds had regulations on pay and bonuses that are causing concern in the banks. The government does not want the money until the banks start opening credit and make money a little more available.
Answered by Tom E - Thu Jul 23 14:09:13 2009
What formula do banks use to determine the value of commercial property?
Q. I am considering investing to my property before I sell it but need to come up with a budget and projections of what my property will be worth when Im done. I have a good idea in figuring this out but I need to know what the banks look at to see how realistic this may be. Well, thanks but I was hopping for a little more. Like total income multiplied by 8.5 (NY's tax assesment formula). Something like that.
Asked by Double R - Mon Apr 13 14:10:12 2009 - - 5 Answers - 0 Comments
A. Banks have a variety of ways of analyzing a commercial real estate asset but there are a few guidelines they all use. The primary number of importance to a lender is NOI or Net Operating Income which is simply income minus expenses. As simple as that is, the calculation can vary dramatically. Income is fairly simple - take the income of the property (what you collect from your tenants whether it be office, retail or multi-family or industrial) subtract a vacancy factor (banks use a vacancy factor common to the product type and location) and that gives you a Gross Operating Income. Expenses include items such as Property taxes, Insurance, maintenance, management, utilities and Reserves to name a few. Subtract your total expenses… [cont.]
Answered by rich8259 - Tue Apr 14 17:39:59 2009
Q. I am considering investing to my property before I sell it but need to come up with a budget and projections of what my property will be worth when Im done. I have a good idea in figuring this out but I need to know what the banks look at to see how realistic this may be. Well, thanks but I was hopping for a little more. Like total income multiplied by 8.5 (NY's tax assesment formula). Something like that.
Asked by Double R - Mon Apr 13 14:10:12 2009 - - 5 Answers - 0 Comments
A. Banks have a variety of ways of analyzing a commercial real estate asset but there are a few guidelines they all use. The primary number of importance to a lender is NOI or Net Operating Income which is simply income minus expenses. As simple as that is, the calculation can vary dramatically. Income is fairly simple - take the income of the property (what you collect from your tenants whether it be office, retail or multi-family or industrial) subtract a vacancy factor (banks use a vacancy factor common to the product type and location) and that gives you a Gross Operating Income. Expenses include items such as Property taxes, Insurance, maintenance, management, utilities and Reserves to name a few. Subtract your total expenses… [cont.]
Answered by rich8259 - Tue Apr 14 17:39:59 2009
From Yahoo Answer Search: 'banks'
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