Web Eclair http://webeclair.com/ Fri, 01 Jul 2022 04:08:27 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://webeclair.com/wp-content/uploads/2021/05/web-eclair-icon-150x150.png Web Eclair http://webeclair.com/ 32 32 Champions Funding’s non-QM solutions enable brokers to meet the unique needs of borrowers https://webeclair.com/champions-fundings-non-qm-solutions-enable-brokers-to-meet-the-unique-needs-of-borrowers/ Fri, 01 Jul 2022 04:08:27 +0000 https://webeclair.com/champions-fundings-non-qm-solutions-enable-brokers-to-meet-the-unique-needs-of-borrowers/

Faced with a housing market in transition, mortgage lenders are scrambling to provide access to finance to a growing population of non-traditional borrowers. As these borrowers begin to represent a significant portion of overall housing demand, brokers and LOs want to partner with wholesale lenders who know how to serve this emerging customer base.

As demand for alternative lending is expected to grow, Champions Funding enables its brokerage partners to meet the diverse needs of borrowers by delivering solution-focused results in the non-QM space. Brokers who partner with Champions Funding enjoy exceptional support from a team that truly cares about their business goals.

“Our robust programs are backed by our exceptional underwriting and client relations team who offer one-on-one support,” said Natalie Verrette, President and COO of Champions Funding. “When brokers are put on hold, their business is on hold. Our goal is to reduce underwriting clutter and friction to get brokers and their borrowers on the road to a “yes” faster. »

Champion funding also helps put brokers on a path to serve the historically underserved. The company understands that today’s homebuyer doesn’t necessarily fit into a traditional agency credit box, allowing it to create solutions that meet the needs of an ever-changing borrower population. .

“Expanding access to funding beyond the limits of traditional lending with our unique CDFI lending options, while simultaneously providing our partners with the benefit of streamlined execution, is exactly the type of innovation needed in the marketplace. current to help deliver a top-notch customer experience. in the non-QM space,” explained Kimberley Torres, Executive Vice President of Sales at Champion Funding.

As one of the few lenders to hold a Community Development Financial Institution (CDFI) designation, Champions Funding fosters growth in some of the nation’s most struggling communities. Using the company’s flagship program, Ally, brokers can tap into a trillion-dollar market backed by the U.S. Department of the Treasury while reaching creditworthy borrowers whose communities have been historically underserved.

“We are seeing a boom in these community-driven loans, which propels our mission to serve the underserved,” explained Evan Stone, co-founder and CEO of Champions Funding.

Serving the underserved isn’t the only way Champions Funding differentiates itself from other wholesale lenders. Along with its end-to-end user experience and non-QM lending innovation, the company has a diverse and predominantly female-led team.

“We are proud to be one of the few lenders where the majority of the management team are women,” said Verrette. “We are staffing our team with highly motivated and talented mortgage professionals who may have been overlooked.”

Additionally, Champions Funding debunks the myth that non-QM loans are laborious and slow by providing personalized support and fast closings. In another example of their commitment to empowerment, the company’s top HERO brokerage platform is named exactly for what it’s designed for: Helping Empower a Real Opportunity.

As the mortgage industry is set to face new challenges as the housing market continues to change, Champions Funding is poised to be at the forefront of what’s to come.

Evan M. Stone: co-founder and CEO

Evan Stone draws on decades of success in the mortgage industry as former Founder/CEO of Pacific Union Financial, owner of ClearVision Funding and newly acquired Community Savings Bank to strategically lead the new lender champions of wholesale non-QM certified CDFI and Mission Focused Funding.


Natalie Verrette: President and Chief Operating Officer

Natalie Verrette brings to Champions a wealth of experience in growing all areas of mortgage origination, operations and fulfillment for large-scale mortgage lenders, where she is committed to serving the underserved.


Kimberley Torres: Executive Vice President of Sales

Kimberley Torres brings over 20 years of experience in the mortgage industry where she is focused on delivering the ultimate customer experience and is responsible for the strategic direction, vision, growth and performance of Champions sales organization.

President Biden plans to cancel some student debt. Here’s why it should get big. https://webeclair.com/president-biden-plans-to-cancel-some-student-debt-heres-why-it-should-get-big/ Thu, 30 Jun 2022 17:26:44 +0000 https://webeclair.com/president-biden-plans-to-cancel-some-student-debt-heres-why-it-should-get-big/

On Wednesday, Rep. Ayanna Pressley hosted a virtual roundtable with the Debt Collective to highlight how burdensome the student debt crisis has been for so many Americans. In the roughly hour-long conversation – which at one point included someone holding back tears as she described the shame and embarrassment she felt for having incurred so much debt for a degree from a for-profit college – people from different walks of life and life stages shared how their student loans had delayed their plans to buy a home, start a family or even pursue certain careers. College was a path to financial security, they were told, but it seems to have gotten them nowhere.

David Ormsby, a member of the Debt Collective who now works at Ford Motor Company outside Detroit, was a retailer when he decided to go back to college in order to earn a higher salary. Between working 40 to 60 hours a week, attending school and caring for his family – including his father, who suffered from early-onset Alzheimer’s disease – it took Ormsby nine years to complete his studies. “When I graduated, it was one of the proudest moments of my life,” he said.

But two years later, Ormsby found that his life had not improved. His salary had barely changed and he was now responsible for repaying his loans. He described it as the equivalent of two extra car payments per month. “I also have part-time jobs to help pay off my student loans,” he said, adding that at age 50 he will likely die before he pays off the balance. “The system here is sticking to my throat.”

Ormsby is not alone. Tara Sung, a medical assistant, was one of the first generation in her family to go to college. Her parents immigrated from South Korea, and she saw higher education as the surest way to be financially secure. And although she’s happy working at a women‘s health clinic in New York, high student loans have kept her from becoming a doctor. “I knew if I went to medical school I would owe hundreds of thousands by the end of it,” she said, adding that she had already racked up more than $100,000 in debt from her bachelor’s and master’s degrees.

There is no doubt that canceling student loans can significantly improve people’s lives. Since the federal government froze repayment plans as part of the response to the coronavirus pandemic, Sung has been able to help his parents make ends meet. But once repayments begin, she says, that support will end. That’s why she’s put off any long-term plans to buy a house or start a family: She’s not sure what her finances might look like next year – or even by then. late summer, when the student loan repayment freeze could occur. to an end.

The stories of individuals, the faces behind the debt, and all that student loan forgiveness would do for them are often lost in arguments about student debt forgiveness.

Consider Pamela Hunt, another Debt Collective member and mother of eight. She was saddled with student debt of over $100,000 after attending one of the schools run by the former for-profit Corinthian Colleges Inc. Her debt prevented her from getting mortgage approval and she had to own a house. so that she can make necessary renovations for her disabled son, Joshua, such as installing ramps and wider doors.

When the federal government wiped out all student debt borrowed to attend Corinthian college — nearly $6 billion — due to the for-profit institution’s false advertising and predatory practices, Hunt was finally approved for a loan. mortgage. The only problem is that she still has tens of thousands of dollars in debt to attend the University of Connecticut, so the loan she was approved for isn’t enough to get her the home she needs for her son.

“Student debt impacts every aspect of your life,” Hunt said. It prevents you from getting other things you need to live, and in my case, I couldn’t afford a house for my family.

Biden often likes to talk about the “dignity of labor.” Well, people are working. In many cases, they are working multiple jobs to cover their student debt and they are still waiting for the government to grant them the dignity they have been promised. If Biden wants to change that, then he should finally cancel their student debt.

Abdallah Fayyad is a columnist for the Globe. He can be contacted at abdallah.fayyad@globe.com. Follow him on Twitter @abdallah_fayyad.

Prize money and club compensation https://webeclair.com/prize-money-and-club-compensation/ Wed, 29 Jun 2022 17:20:44 +0000 https://webeclair.com/prize-money-and-club-compensation/

The Women‘s Euro 2022 promises to be the biggest and the best in more ways than one.

Three times as many tickets were made available as the record-breaking Euro 2017 in the Netherlands, which has the potential to make the Wembley final the most attended match in Premier League history. Europe – men or women.

Many world-class players and teams will be on display across England, while UEFA have chosen to double the prize money on offer, which will be split between all the competing countries. In addition to this, clubs with players present will also be compensated financially.