All Forum Posts by: Corey Dutton

Thanks Joseph.

The ugly stepchild of Dodd Frank has no limits, according to a recent article posted by MPA Magazine. A Texas Representative, Jeb Hensarling, had this to say about the lack of accountability of the CFPB, “Arguably it is the single most powerful and least accountable Federal agency in the history of our nation.”

The CFPB was created in 2011 under Dodd Frank and it is an independent federal agency that holds primary responsibility for regulating consumer protection with regard to financial products and services. Unfortunately no one under the CFPB, including the omnipotent Director Richard Cordray, has any mortgage-related experience. Essentially this is just a “rogue agency” that’s creating and abolishing new mortgage and financial-related regulations with absolutely no experience in this area.

The CFPB has set out to eliminate mortgage products and services that were created for a reason. The reason is that there are borrowers out there that need them. Even the private money lending industry has been affected by the CFPB. The CFPB has made it impossible for anyone to obtain a private money loan on an owner occupied property. So if a consumer can’t qualify for a bank loan, now they can’t get a private money or hard money loan either!!! Why? Because the CFPB has made it so private money lenders won’t lend on owner occupied properties anymore.

Once again, too much government regulation, particularly by an agency with no mortgage background or experience, is bad, bad, bad. Let’s punish consumers for what the big banks and Wall Street did to them! Ridiculous. Read the entire article from MPA Mag here: http://www.mpamag.com/mortgage/cfpb-a-rogue-agency-with-no-accountability-16242.aspx

Hi @Greg Wilson glad you joined. Great resources here. We are a local private money lender. Just wanted to say hello !

Wow, thank @Jon Holdman I think you're dead on about Nokia & MTV. With Avon women can buy things online now and they couldn't before. With more women buying online, it's harder to get the women together, which is Avon's trademark.

With Canon, everyone is now using their phones for video and photos, so most people don't even think about buying a real camera. Sure the demand for high end is always going to be there but the market for dumbie proof cameras has completely dropped out I would think.

We’ve all seen some behemoth corporations go down in the past decade, from the retail giants like Circuit City all the way to firms like Bear Stearns in the financial crisis. It’s a tough fate for a company regardless of how or when. And in the process, lots of people get hurt, particularly the shareholders, which of course include the employees. But more has changed than what everyone sees on the surface. We are in a profoundly new economy compared with even ten years ago, and the wheels of the future aren’t just set in motion they are moving forward at full speed. When the inner workings of the economy change so rapidly, much like the game of musical chairs, there are many participants who are left without a chair when the music stops.

In this new economy that we are in the midst of, which monster corporations will suffer their fate next?

From a recent article in the Fiscal Times, the author Jonathan Berr gives a list of brands that have lost value in the past year. Some of the brands on this list really stuck out for me as examples of monster corporations that are getting hit hard by the rules of the new economy. I’ll let you use your own imagination and guess as to the reasons why. While some are losing market share against their competitors for an obvious reason, some are not so obvious. From the list on the Fiscal Times, I’ve chosen to highlight only those brands that I feel are will soon suffer their fates simply due to the changes brought about by the new economy. Here are some of those from the list that are slipping:

-Nokia

-MTV

-Avon

-Dell

-Canon

-Intel

What is your opinion on why these brands may be “falling from grace?” Please share below.

Hello @Account Closed !

Hi @Clark Davis , look me up sometime. Would love to have you come to the local REI club right in Sandy.

Commercial Loan Rates on Investment Property Are Stable

Because commercial loan rates charged by private money lenders are not tugged at by the prime rate, these rates remain stable. Banks offering commercial loan products often use the U.S. Prime Interest Rate as their base lending rate and then add a margin based primarily on the amount of risk they assign to a loan.However, commercial loan rates charged by private money lenders are not governed by the same forces that push bank rates up and down. As most know, commercial bridge lenders have higher commercial loan rates but much lower approval requirements.

The presence of commercial bridge lenders is growing in the commercial real estate arena due to delays in FHA from the recent shutdown combined with the tight lending guidelines of U.S. Banks. Let's face it, banks aren't loosening up their cash too easily to lend on investment properties. They are cherry-picking the best of the best deals to lend on and everything else goes to the wayside. Luckily for commercial bridge lenders, the wayside is their side.

To get an idea of the commercial loan rates for investment properties that are being charged by commercial bridge lenders, take a look at our loan programs page here: http://privatemoneyutah.com/loan-programs/

Our commercial bridge loans start at 7%. Not bad for those who can’t qualify for a bank loan or for those who have a need for speed.

Where is the property located? There are some rehab loans that will do 100% of purchase and 100% of rehab, but you're still bringing in loan fees, interest reserve, and closing costs at the very minimum. So there is cash required in the deal.

@Buddy LaRue I know some people I could possibly refer you to out there. We don't lend there but please shoot me an email privately and I can give you their contact info. It's a start! Maybe not 70% ARV but look into it anyway...