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The Role of Installment Loans in Financing Large Purchases: Is It Worth It?

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The Role of Installment Loans in Financing Large Purchases: Is It Worth It?

The Role of Installment Loans in Financing Large Purchases: Is It Worth It?The Role of Installment Loans in Financing Large Purchases: Is It Worth It?

Installment loans are a type of loan that allows borrowers to repay the amount they owe over a set period through regular, fixed payments. Unlike revolving credit, where the balance can fluctuate, installment loans are structured with a clear start and end date. Common examples include car loans, home improvement loans, and personal loans, which help people manage significant expenses by spreading the cost over time.

Large purchases can be challenging, especially when they are sudden or unexpected. The total amount can be difficult to determine, whether it’s a new car, a significant home repair, or an expensive medical procedure.

Many people turn to loans as a solution, allowing them to purchase without draining their savings. However, this decision comes with its considerations, particularly when deciding whether to use installment loans.

Interest Rates

Interest rates play a crucial role in determining the overall cost of any loan. They represent the percentage of the loan amount the lender charges for borrowing the money. The higher the interest rate, the more you’ll end up paying over the life of the loan. Interest rates vary widely based on factors like credit score, loan amount, and loan term length.

One of the benefits of installment loans is that they often come with fixed interest rates. This means your payments remain consistent throughout the loan term, making it easier to plan and budget. With a fixed rate, there are no surprises, and you can confidently predict your monthly payments from start to finish.

But, the downside is that if you secure a loan with a high interest rate, you could pay significantly more than the initial purchase price. This is especially true for loans with longer terms, where even a seemingly small interest rate can accumulate into a large amount over time. It’s essential to shop around for the best rates and consider the total cost of the loan before committing.

Monthly Budget Impact

A large purchase can significantly impact your monthly budget, especially if you pay out of pocket. A sudden expense might force you to dip into savings or cut back on other areas of your spending. The financial strain can be even more pronounced with multiple ongoing expenses.

An installment loan can help by spreading the purchase cost over several months or years. This can reduce the immediate impact on your budget, allowing you to maintain your regular spending habits without feeling overwhelmed. With fixed monthly payments, you can incorporate the loan repayment into your budget more quickly than a large, one-time payment.

Conversely, committing to monthly loan payments over a long period can strain your finances in the long run. If your financial situation changes or an unexpected expense arises, keeping up with the payments might become challenging. It’s important to ensure that the monthly payments fit comfortably within your budget and that you have a plan for handling any potential financial disruptions.

Loan Terms

Loan terms describe the duration you have to repay the loan and the particular conditions the lender sets. These terms can differ significantly, with some loans needing to be repaid within a few months while others may allow repayment over several years.

One advantage of installment loans is that they offer flexible loan terms, allowing borrowers to choose a repayment period that fits their financial situation. Longer terms typically result in lower monthly payments, making managing the loan more feasible. This flexibility can be particularly helpful when dealing with a large purchase that you might not be able to pay off quickly.

However, longer loan terms come with their drawbacks. The extended repayment period means you’ll pay interest for longer, increasing the loan’s total cost. Additionally, the longer the term, the longer you’ll be committed to making payments, which can limit your financial freedom and flexibility in the future.

Credit Score Considerations

Your credit score is crucial in obtaining any loan, including installment loans. Lenders rely on this score to evaluate your creditworthiness and set the interest rate and loan terms. A higher credit score usually leads to more favorable loan conditions, while a lower score might result in higher interest rates or even challenges in getting approved.

Installment loans can be beneficial for building or improving your credit score as long as you consistently make timely payments. When you pay on schedule, it signals to lenders that you are reliable, which can positively affect your credit history. Over time, this can improve your chances of qualifying for more favorable loan options and lower interest rates.

Conversely, missing payments or defaulting on installment loans can significantly harm your credit score. This can make it harder to obtain credit in the future and may lead to higher interest rates on any loans you qualify for. Understanding your financial commitment and ensuring you can meet the payment obligations to protect your credit score is essential.

Purpose of the Purchase

When considering installment loans, it’s essential to evaluate the necessity of the purchase itself. Large purchases can be tempting, but it’s crucial to determine whether they are essential or simply a desire. Understanding the purpose of the purchase can help guide your decision-making process.

Installment loans can be a great way to finance necessary purchases that would otherwise be out of reach. For example, buying a reliable car for commuting or making essential home repairs can justify taking on debt, as these purchases can improve your quality of life or even save you money in the long run.

However, using installment loans to finance non-essential or impulse purchases can lead to financial strain. Taking on debt for something you don’t truly need can result in long-term regret, especially if you struggle to keep up with the payments. It’s important to carefully consider whether the purchase is worth the financial commitment before taking out a loan.

Conclusion

Choosing a loan for a large purchase requires careful consideration of various factors, including interest rates, monthly budget impact, and loan terms. Evaluating these aspects is crucial to making a wise financial decision.  Before committing, assessing your needs, budget, and financial situation is essential to determine if this type of loan is the right choice.

Article written by Tiffany Wagner, tiffanywagtw@gmail.com

Why Celebrating Holidays Late Can Help You Save Big

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A young family preparing for the holiday. They're walking on the street and carrying Christmas stuff

‘Tis the season for spending! I’m a sentimental person who seriously loves festivities, and I always look forward to the holidays. But as a financial expert, I dread the holiday price tag.

A few years ago, I accidentally discovered a trick that saved me major money on seasonal expenses: celebrating a few days late. Admittedly, my motive in pushing back the festivities was not financial.

I initially suggested postponing Thanksgiving by a week to avoid the madness of traffic jams, the cramped seating on Amtrak and the stress of coordinating schedules with siblings and friends.

In my effort to reduce the stress of the holiday, I stumbled upon an unexpected gift: I saved money. Here’s how pushing back your holiday celebration by a few days or more can save you money, too.

How much do people spend on the holidays?

As far as I’m concerned, holiday spending is out of control. Maybe I sound like a Grinch, but here are some figures that dampen my holiday cheer:

  • The average consumer is expected to spend around $1,778 on the holidays in 2024.
  • Spending is expected to increase by up to 3.3% in 2024.
  • This season, 27% of people report they’ll take on credit card debt and buy now, pay later loans to cover their expenses.

Perhaps my holiday hack won’t stop you from taking on debt this year, but if it helps you cut down expenses, I’ll consider it a win.

4 expenses you can cut by delaying your holiday celebration

Pushing back holiday celebrations won’t eliminate all your holiday expenses, but it will give you a shot at significant savings. Here’s where you can expect to see it payoff.

1. Transportation

Finding an alternative date to travel could be your biggest shot at saving both time and money on your holiday vacation.

According to INRIX, a company that analyzes traffic data, December 23rd and 28th are the most congested days on the road. Visiting home at a later date could mean cutting any number of transportation costs, including:

  • Car rentals
  • Airline or train tickets
  • Gas (since you’ll spend less time in traffic)
  • Surge pricing on rideshares to/from the airport
  • Airport parking

Here’s a look at what you could save by flying for the New Year holiday instead of Christmas when you travel to some of the most popular destinations.

Lowest fare for round-trip airline tickets to popular holiday destinations*

Trip 

Dec 23-27 

Dec 30-Jan 2 

Savings for single passenger 

Savings for family of 4 

Seattle, WA > Orlando, FL 

$429 

$355 

$74 

$296 

Chicago, IL > Los Angeles , CA 

$396 

$357 

$39 

$156 

New York, NY > London, England 

$672 

$621 

$51 

$204 

*Prices found using Google Flights on September 20, 2024. Taxes not included.

To save even more money, consider booking on the optimal dates for low airfare, using your airline points or planning a trip closer to home.

2. Gifts

Black Friday gets all the credit for delivering discounts, but after-Christmas sales are not to be slept on. On December 26th, retailers start dropping prices, hoping to offload seasonal inventory and (according to my personal theory) dissuade consumers from returning holiday gifts.

That’s good news for anyone who celebrates Christmas a little late. If you start your shopping right after the big day, you could tap into year-end clearance sales, you can potentially save around 50% on gifts.

3. Food

Last Easter, the average adult reported plans to spend $177 per person on gifts, clothing, and most of all, food and candy. It’s easy enough to bring down that cost by celebrating just a few days later. You might find frozen ham marked down to half off the day after a holiday, as well as deep discounts on seasonal candy.

4. Decorations

For bargain hunters, the best time of the year to buy holiday decorations is right after the big day. Easter decor is often marked down by 50% starting the day after Easter, and Christmas decor may also be available at significantly reduced prices after the 26th.

Isn’t celebrating late kind of a… bummer?

For traditionalists, the idea of celebrating a holiday on the “wrong” date is simply out of the picture. And I understand why! After all, no one wants to feel left out or lonely on such a special day.

After a bit of trial and error, I’ve found the key to fending off FOMO and maintaining important traditions is to plan something small but special on the big date(s).

That might include watching a favorite movie, baking a pie with your immediate family, or exchanging a gift with a few friends.

As a reward for your flexibility, you’ll save money and extend the season by a few days or more, enjoy traveling when there’s less traffic, and visit home when your friends and family have more free time to enjoy one another’s company.

 

How Much Is My Long-Term Disability Settlement Worth?

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How Much Is My Long-Term Disability Settlement Worth?

Long-term disability (LTD) benefits can be a lifesaver for people who are unable to earn an income due to sickness or injury. If you are not able to work for months or even years at a time, it is a relief to know that you will still be getting a monthly check to help pay for your necessary expenses.

Most LTD plans will pay monthly disability benefits for as long as you remain disabled or otherwise meet the policy’s requirements. However, you may have an alternative option: a long-term disability settlement or buyout. If you go this route, instead of ongoing monthly payments, you’ll receive a single lump sum payment and then your benefits will be terminated.

Disability insurance companies might offer a lump sum disability settlement if they think it will save them money in the long run. Some policyholders might also prefer this option if they need a significant amount of cash now, or if they believe they will come out ahead if they can invest and manage their own finances.

But is it a good idea? To answer that question, you need to understand what your long-term disability claim is worth. In this blog post, we will examine ways to do this.

How Much Is My Long-Term Disability Settlement Worth?

What Factors Can Affect the Value of a Disability Insurance Policy Buyout?

There are a few major items that will be taken into consideration when valuing your long-term disability claim. While nothing compares to a disability insurance lawyer’s personalized assessment and calculations, here are a few factors you must consider.

The total value of your future disability benefits

This is simply your monthly benefit multiplied by the number of months left of coverage. If, for example, your monthly benefit is fixed at $3,000 and you have 15 years until benefits end, the full value of your long-term disability benefits would be $540,000 ($3,00 x 12 x 15).

If your policy includes an indexed cost of living adjustment (meaning the annual increase changes from year to year based on inflation, the Consumer Price Index, or another calculation), the exact total of your future payments will necessarily involve some estimation.

But either way, for the reasons below, your settlement offer will never be as high as the total sum of your future benefits.

The net present value (NPV) of your future benefits

The value of $3,000 today is not the same as the value of $3,000 in another 10 or 15 years. Inflation is the most obvious reason, but there are other factors to consider, too. For example, money that you obtain now can be invested and earn interest, which compounds over time. If you invest wisely, your future returns could greatly exceed your regular monthly benefit payments.

So, to calculate the buyout, the insurance company estimates what your future benefits will be worth using “present value,” or today’s dollars.

In general terms, present value is calculated by taking your remaining benefit payments and applying a discount rate. This estimates the monthly or annual discount for money paid now to be “worth” the same as money paid in the future.

Depending on how much longer your benefits are scheduled to last, this could result in your buyout value being significantly less than your total future benefits. Think of it this way: $2,000 in today’s dollars might be worth $2,100 next year, $2,550 in five years, and $3,250 in 10 years. So, the more years the insurance company is buying out, the lower percentage of the total you’ll receive.

Your life expectancy or mortality

If you die before your regular monthly benefits are scheduled to end, your payments simply stop. But if you take a lump sum, any money you save could be passed on to your heirs. If the insurance company believes you are unlikely to live to the end of your benefits period, they will offer you a lower buyout settlement.

How long you will need benefits

If the disability insurance company feels that you will be able to return to work before your benefits expire, or believe they will have a good reason to dispute your claim in the future, they may refuse to offer a buyout or reduce your buyout offer.

Generally speaking, insurance companies don’t offer buyouts unless they are very confident you will not be able to return to work at any point during your benefit period. If you request a buyout from them, they may even become suspicious that you are worried about losing your benefits—so this could backfire on you.

Pros and Cons of Taking a Lump Sum Payment

Taking a lump sum buyout comes with both advantages and disadvantages. If your insurance company offers to buy out your LTD claim, you will have to consider carefully which choice will be best for your unique circumstances.

Advantages to settling your long-term disability claim

The main advantage to taking the lump sum is that it puts you in more control over your long-term finances. You may feel that you will come out ahead if you are able to invest the money or make a large upfront purchase, rather than continuing to draw a smaller monthly benefit payment (which, due to inflation and cost of living adjustments, will not be worth as much later as it is today).

Another key advantage is certainty. Even if you’ve been receiving disability benefits for years, there’s no guarantee that your benefits will continue to be paid as normal until the end of your policy’s benefit term. There’s always a possibility that the insurance company will challenge your disability status in the future and attempt to terminate your benefits—or that you might pass away unexpectedly while still receiving benefits. By settling, you are not only free from having to deal with the insurance company, but you will know exactly how much money you’ll have to save, invest, and hopefully pass on to your heirs when you die.

Disadvantages to settling your long-term disability claim

The main disadvantage is that, once you settle, the matter is closed and you can no longer go back and receive regular payments. If you run out of money—whether because you mishandled it, or had additional unexpected medical expenses, or outlived your life expectancy, or any other reason—you will have no recourse.

For these reasons, it is extremely important to understand what your claim is truly worth before considering any lump sum settlement.

Key Points to Consider Before Accepting a Buyout

Deciding whether accepting a settlement is in your best interest? Here are a few questions to ask and thoughts to consider.

Can I handle the money responsibly?

A large lump sum of money can set you up for life, but it can also be easily squandered in a few short years if you fail to take adequate precautions or make risky investing decisions. We strongly encourage you to work with a financial advisor or estate planning attorney to make sure you have a solid financial plan.

Have I considered the tax implications?

Your long-term disability settlement may be taxable, non-taxable, or partially taxable depending on whether or not an employer contributed to your premiums, and whether you paid your portion of the premiums with pre-tax dollars or post-tax dollars.

If your monthly benefit payments were taxable, your settlement should also be taxable. And because you will be receiving it as a lump sum in a single tax year, those taxes could be substantial. Again, working with a financial advisor or tax professional is strongly recommended before accepting any settlement offer.

RELATED POST: Are Short and Long-Term Disability Benefits Taxable? – Bryant Legal Group (bryantlg.com)

Is the settlement offer fair?

Remember, the insurance company would not be making the offer unless it believed that it would save them money in the long run. Although you might agree that it is the better option for you as well, the insurance company has their own interests at heart—not yours. So, you should be extremely cautious about taking their calculations about the true value of your disability case at face value.

To calculate the present value of your benefits, the insurance company will use a discount rate that makes certain assumptions about inflation, rate of investment returns, and other factors. Almost certainly, these assumptions will be skewed in their favor—not yours. You have some room for settlement negotiations, but since the insurance company doesn’t have to offer a buyout, they won’t take any deal they think is bad for them.

You will need to carefully consider whether the terms of the settlement are reasonable, factoring in the total expected lifetime benefits, what you can reasonably expect to earn through investments, and what any of the other benefits of settling (e.g. financial certainty, not having to worry about your benefits being terminated later) are worth to you.

RELATED POST: When Should I Take a Disability Insurance Settlement or Buyout? – Bryant Legal Group PC

Should I Use a Long-Term Disability Buyout Calculator?

Many websites offer a free online calculator to estimate a fair value for your lump sum payout. While such tools can provide a rough and approximate starting point, it is important to understand that the true value of your case cannot be determined by a simple formula.

There are many factors to consider when making this kind of calculation, and the process is not always straightforward. The assumptions and projections the insurance company makes about your case may be quite different from those considered by the calculator.

As a result, you should always consult with a long-term disability lawyer before accepting any settlement offer. An experienced attorney can bring unique insight into how much your claim is truly worth and can provide you with impartial advice about whether a buyout makes sense for your unique circumstances—and if so, how much the insurance company would need to offer to make it worth your while.

Bryant Legal Group: Helping Disabled Individuals Secure Their Financial Future

Deciding whether to trade your monthly benefits for a lump sum payment may be one of the most significant financial decisions of your life. It may be hard to say no to a one-time check worth hundreds of thousands of dollars, but if you settle for too little, it could mean disaster down the road. A disability lawyer can protect you and help you make a wise decision.

At Bryant Legal Group, serving our clients is always our top priority. Our attorneys have decades of experience representing disabled individuals and helped them secure the benefits they deserve, fight unfair denials, and plan for their long-term future.

If you are working through a disability claim, or deciding whether a buyout is the right decision, our experienced attorneys can talk you through your options, weigh the pros and cons, and help you make the right choice for yourself and your family.

Contact a long-term disability attorney in Chicago today by calling 312-561-3010 or completing our online form.

Homespire Mortgage Honored at Maryland Mortgage Program Awards

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Homespire Mortgage Honored at Maryland Mortgage Program Awards

Homespire Mortgage Honored at Maryland Mortgage Program Awards

Homespire Mortgage is honored to be recognized as a Silver Tier Lender by The Maryland Department of Housing and Community Development (DHCD) at their 2023 Maryland Mortgage Program annual awards event. This acknowledgment reflects our mission to help homebuyers responsibly and affordably finance their dream of homeownership and our dedication to helping more Maryland residents achieve that goal.

We are proud to partner with a program that provides valuable assistance for homebuyers, primarily first-time homebuyers, by helping to make homeownership more affordable and attainable. We look forward to continuing to work with the Maryland DHCD to deliver exceptional mortgage experiences and open the doors to homeownership for more people in Maryland communities.

To learn more, read the official MD DHCH press release here.

Are We Still in a Falling Mortgage Rate Environment?

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Are We Still in a Falling Mortgage Rate Environment?

It’s been a wild ride for mortgage rates this year. The 30-year fixed began 2024 at around 6.625% and is currently not far from those levels.

Despite that, rates were as low as 6% and as high as 7.50%. So there has been quite a range over the past 50 weeks or so.

Rates rallied last December after the Fed revealed it was ready to pivot and begin loosening monetary policy.

But as always, they ebbed and flowed along the way, instead of simply falling lower and lower, with the past couple months quite the rollercoaster higher.

However, we remain in a falling rate environment, even if rates aren’t currently at their 2024 lows. Allow me to explain.

Mortgage Rates Are Better Than Their Year-Ago Levels

Many things, including home prices and mortgage rates, are measured both monthly and year-over-year.

The latter can give you a bigger picture of where something is trending, whether it’s home prices or mortgage rates.

For example, home prices might fall month-to-month, but still register year-over-year gains thanks to stronger months along the way.

When it comes to mortgage rates, I’ve argued since mid-September that we remained in a falling rate environment.

Why did I have to? Because rates on the 30-year fixed climbed from about 6% to 7% in the span of less than two months.

This had many fearing for the worst. That the recent improvement in rates was another head fake. And a return to 8% or higher was imminent.

After all, we’d seen this movie before, as recently as spring of this year, when the 30-year fixed climbed from 6.5% to 7.5%.

But my argument has always been that we’ve seen lower highs. So first it was 8%, then 7.5%, and most recently 7%.

In addition, mortgage rates have been besting their year-ago levels, showing a longer-term trend as opposed to some short-lived noise.

But They’ll Need to Keep Dropping Thanks to a Recent Uptick

Are We Still in a Falling Mortgage Rate Environment?

Just to summarize the past couple months, the Fed cut rates in mid-September, which led to a little sell the news bounce in rates.

Simply put, the cut was baked in as evidenced by rates falling nearly two percentage points from October 2023.

Then we got a one-off hot jobs report that further propelled mortgage rates higher, followed by a presidential election.

Once it became clear that Trump was the frontrunner to win, rates moved even higher still, as his policies like tariffs are expected to be inflationary.

But eventually that big run up in rates ran out of steam and they seemed to get back on their downward track.

Ultimately, the economic data is what matters and it continues to show cooling inflation and some concern about rising unemployment.

That has pushed mortgage rates back from 7.125% to around 6.75% again. The big question now is if they can keep going lower.

As shown in the chart above from MND, the 30-year fixed plummeted in early December 2023 when the Fed implied it was done hiking and ready to cut rates in 2024.

That required the 30-year fixed to be sub-6.82% to beat its year-ago levels, which it barely accomplished thanks to another soft labor report this past Friday.

It now faces an even bigger test as the 30-year fixed was 6.65% in mid-December 2023, meaning we’ll need to see rates improve further over the next week to match/beat those levels.

Of course, it doesn’t need to be perfect.

Can Mortgage Rates Get Back to Sub-6% By February?

While rates certainly seem to be trending in the right direction after the dust settled from the election, they’ve still got to work to do.

In order to continue to remain below year-ago levels, they’ll need to fall another 10 basis points over the next week, which seems reasonable.

But to reach lower highs in 2025, they’ll need to keep showing improvement and get into the 5s, considering we saw a rate of 6.125% earlier this year.

They have time to do that, but mortgage rates tend to be lowest in winter, so perhaps it’ll happen sooner rather than later.

The last time the 30-year fixed was sub-6% was actually on February 2nd, 2023, when it hit 5.99%, per MND. It was very short-lived, and rates jumped to 7% that same March.

However, it’s possible rates could continue to drift that way into 2025, divvied up between some improvements this month and in January.

And it’s not really a big ask if you consider that the 30-year fixed was 6.125% in mid-September. Also note that rates tend to fall for several years after a Fed pivot.

Conversely, the biggest risk to mortgage rates climbing in the short-term, other than any strong economic data such as higher inflation or lower unemployment, would be inauguration-related noise.

There’s been a relative calm of late, but with that date steadily approaching, the government spending and inflation rhetoric could ratchet up again in early 2025.

Still, it wouldn’t surprise me to see mortgage rates continue to trend lower in 2025 and remain in a falling rate environment.

Colin Robertson
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International P2P Lending Volumes September 2024

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International P2P Lending Volumes September 2024

The table lists the loan originations of p2p lending marketplaces for last month. Mintos* leads ahead of Peerberry* and Esketit*. The total volume for the reported companies in the table adds up to 341 million Euro. I track the development of p2p lending volumes for many markets. Since I already have most of the data on file, I can publish statistics on the monthly loan originations for selected p2p lending platforms. This month I added Ventus Energy*.

Investors living in national markets with no or limited selection of local p2p lending services can check this list of international investing on p2p lending services. Investors can also explore how to make use of current p2p lending cashback offers available. UK investors can compare IFISA rates.

International P2P Lending Volumes September 2024international p2p lending volume statistic september 2024
Table: P2P Lending Volumes in September 2024. Source: own research
Note that volumes have been converted from local currency to Euro for the purpose of comparison. Some figures are estimates/approximations.

Links to the platforms listed in the table: Bondora*,  Crowdproperty*, Debitum Investments*, Esketit*, Estateguru*, Finansowo*, Finbee*, Folk2Folk*, Geldvoorelkaar*, Investly*, Iuvo Group*, Kuflink*, Kviku.Finance*, Lendermarket*, Loanch*, Mintos*, Nectaro*, Peerberry*, Proplend*, Robocash*, Swaper*, Ventus Energy*.

Notice to p2p lending services not listed:
For new companies a small listing fee applies. If you want to be included in this chart in future, please contact me for more information.

Notice to representatives of press/media: If you are interested in publishing a branded version of this table in your own layout/design, which will make a nice addendum to your coverage of p2p lending, please contact me.

International P2P Lending Volumes October 2024
International P2P Lending Volumes August 2024

How does the ADA impact remote work for SSD recipients?

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With more people working from home, making sure digital tools are accessible is really important, especially for people who get Social Security Disability (SSD) benefits. Many people with disabilities have trouble using online content and work tools, but the Americans with Disabilities Act (ADA) helps fix these problems, making remote work more fair and accessible.
The ADA’s Rules for Digital Accessibility
The ADA says that employers have to make sure all work-related digital tools are accessible to employees with disabilities. This means websites, software, and communication tools have to work well for people who use assistive technology. Employers need to think about features like screen readers, voice commands, and keyboard shortcuts so that employees on SSD can do their jobs from home effectively.
Helping Remote Workers on SSD
Employers also need to provide reasonable help, or accommodations, to remote workers who get Social Security Disability benefits. This could include giving access to special technologies, like screen readers or voice recognition software, that help employees do their tasks. Employers must also make sure their digital tools work with these assistive technologies, so remote workers can stay connected and get their work done.
What Happens If Companies Don’t Follow the ADA?
If companies don’t follow the ADA, they can get into legal trouble, including lawsuits and fines. Employers should regularly check their digital tools and work with professionals to make any needed changes. Following the ADA not only helps avoid legal issues but also creates a more inclusive workplace for people with disabilities, including those on SSD.
Why Accessible Remote Work Helps Everyone
Making digital tools accessible helps both employees and employers. Employees on SSD can do well in their jobs when they have the tools they need, which adds to a diverse and skilled workforce. Employers can also benefit by hiring talented people who might otherwise be left out. Making remote work accessible makes work better for everyone and increases productivity.
Supporting digital accessibility is key to creating a fair and inclusive work culture. Employers who focus on accessibility set a good example and help create a future where everyone, no matter their abilities, has a chance to succeed.The post How does the ADA impact remote work for SSD recipients? first appeared on Disability Rights Law Center.

TSB and HSBC reveal rate changes across range – Mortgage Strategy

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TSB and HSBC reveal rate changes across range – Mortgage Strategy

TSB and HSBC reveal rate changes across range – Mortgage Strategy

TSB have confirmed a selection of changes across its residential, product transfer and additional borrowing ranges.

Examples include, for residential, two year fixed remortgage 80-85% LTV rates reduced by up to 0.25% – so now 4.89% with a £995 product fee.

And five-year fixed remortgage 75% LTV rates reduced by 0.05%, so now 4.19% with a £995 product fee.

For product transfer, for TSB is offering a residential  two-year fixed 80-85% LTV rates reduced by up to 0.15%, so now 4.89%  with a £995 product fee.

Also, for residential five -year fixed 75% LTV rates reduced by 0.05% – so now 4.59% with a £995 product fee.

For additional borrowing, TSB’s residential two year fixed 80% LTV  has seen rates reduced by up to 0.15% – so now 5.09% with no product fee.

HSBC for Intermediaries has announced cuts across its UK residential first time buyer range.

Two -year Fixed Fee Saver at 60%, 70% and 75% LTV have decreased but two year Fixed Fee Saver at 85% LTV has increased

Similarly  HSBC’s five year Fixed Fee Saver at 60%, 70% and 75% LTV have decreased; while the five year Fixed Fee Saver at 90% LTV has increased.

Goldman Sachs slashes GDP forecast as smaller banks critical to US economy come under pressure

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Goldman Sachs slashes GDP forecast as smaller banks critical to US economy come under pressure

Goldman Sachs slashes GDP forecast as smaller banks critical to US economy come under pressure
Goldman Sachs on Wednesday cut its economic growth forecast for 2023, citing a drop in lending by small and medium-sized banks amid turmoil in the broader financial system.

A&D Mortgage prices latest non-QM securitization deal

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The loans reflect a weighted average loan-to-value (LTV) ratio of 67.4% and an average borrower credit score of 743. Investment property loans make up a significant portion of the pool, comprising 45.3%, while 35.3% of the mortgages fall into the non-QM category.

The transaction includes credit enhancements, such as excess spread and subordination, alongside a hybrid pro-rata/sequential payment structure designed to protect senior certificate holders. A&D Mortgage serves as the primary servicer, while Nationstar Mortgage, operating as Mr. Cooper, will act as the master servicer.

Read next: ‘Don’t wait!’ Rising demand for non-QM loans in Philly housing market

“Securitization remains a cornerstone for expanding access to capital, especially within the non-QM mortgage sector,” Bob Diamond, founding partner and CEO of Atlas Merchant, said in a Press release. “The ADMT 2024-NQM6 transaction underscores our shared commitment with A&D Mortgage to delivering innovative, high-quality asset-backed securities. This deal represents a sound investment, fortified by strong credit enhancements and dynamic collateral, making it resilient against market fluctuations.”

The transaction has received strong preliminary ratings from both S&P Global Ratings and Kroll Bond Rating Agency (KBRA), with the senior classes achieving ratings as high as AAA (sf). These ratings affirm the quality of the collateral and the strength of A&D Mortgage’s underwriting processes.

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