portfolio loan

Yup you're approved!today on Yup, you're approved! We're talking with Ted Lyonstalking about portfolios loanslet's see what we can do TedI guess can you tell me kinda what isa portfolio loan? what sets portfolio loans apart fromalmost every other mortgage loan out there is almost every other lender goes onguidelines and standards by this Fannie Mae Freddie MacUSDA Veterans Association Federal Housing Administrationthere's always guidelines that are handed to lenders and we're toldunderwrite this file and it fits these guidelines it fit in this box you've got a great long list to go byselling transfer but with portfolio loan itis a loan underwritten completely in-house by ourselvesfunded with own money with the intention that it's never going to besold to anyoneso what that does is frees up lets us get outside the boxand less red tapeokay great basically in in this market is mortgage environment whos really doingportfolio loanspractically no one i've worked for many companies through the yearsand this is the first lender I've ever worked with that offers portfolio loansmichigan first mortgage division of michigan first credit unionwe have our own funds to lend

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Collateralized Debt

We've seen that an investment bank canbuy a bunch of mortgages, which essentially makes themthe lender to the homeowners, and then itcould stick those mortgages inside of a special purposeentity. And then it could sell the shares in that special purposeentity, and that these shares wouldbe called mortgage-backed securities. And let's just say, just for the sake of argument,when it sells these shares it sells them at $10 a share,and it promises dividends at $10 a share,the equivalent of an 8% yield. So maybe the homeowners here are payinga higher than 8% interest, some of themdefault, once you average everything out,and the investment bank keeps a little bit for itselfand to do all the operations and all the overhead,and so it can actually give the investors an 8% yield. This might be good for a whole class of investors. They might like the safety profile, the risk profileof the special purpose entity of this mortgage-backed security,and they might like the return, and they might go for it. But there might be a class of investors,may be very risk-averse

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insurance project 2015

MusicThis is a concern that many parents beneficiary share,and it's a very valid concern.  Now, depending on the type of benefitsyour son receives, and the type of health insurance he has,the answer varies.  All individuals who receiveSSDI once they've been entitled for 24 monthsare entitled to Medicare.  There is medicare Part A, which is hospitalization,part B, which is outpatient, and part D, which is prescription drug coverage. Now, when a person goes to work, if heworks his way off of cash benefits, then he still entitled to receive medicarefor at least 93 monthsfollowing the completion of his trial work period. And if you remember from our previous conversation the trial work period lastsnine months. So, he is covered for Medicareno additional cost, for over8 years once he starts work, and that'sif he begins working above substantial gainful activity. So he'll be able to keep his medicare for quite some time.  And even after that,he'll still have the option to purchase Medicare if he chooses to do so. Now, in Indiana, we have something called MEDWorks,which is our state Medicaid buy-in program for people with disabilities whoare working. This is nice because even if a person doesn't currently qualify for Medicaid,yet they have disability through social security,her or she can apply for MEDWorksthrough our medicaid system once they become employed.  This gives an additional Medicaidcoverage,or health insurance, and it will also pay their medicare premiums. Right now that currently costs 105 dollars per month for Medicare Part Band anywhere from 35 dollars upfor Part D prescription drug coverage.  Sohaving this additional health care coverage really benefit a lot of peopleand provides them with additional health care coverage.  MEDWorksis asystem in which the person pays premiums based on their totalincome, which is their employer - um, excuse me - their employment plus their social security disability insurancecheck. And it's a sliding scale premium.  Some people's premium is 0;other people may pay $48 dollars a month; other people pay around 100dollars a month. They get a bill in the mail, they pay that bill, and they keep their Medicaid. Even if a person loses his job, then he may keep his MEDWorks for up to a yearwhile he continues to look for another job. Now, if a person receivesSSI, even yet he is a concurrent beneficiary - and again, that means hereceives bothSSDI and SSI - so if he receivesany amount of SSI, and he had SSI and Medicaid the month before starting work,then he is

protected by something known as 1619b. And this is really nice because he'll get to keep his Medicaid coverage - full coverage - without any extra premiums once he goes to work. And, he can earn up to 37,010dollars per year and that's in 2014.  The 2015 numbers still have not come outyet, but they generally go upeach year.  So, health insurance is not a worry. In addition to that, a person can also get health insurance through theiremployerand keep all of the things that I just mentioned. Music

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CMHC Insurance

To support the creation of affordable housing,CMHC enables lenders to offer financing flexibilitiesto home buyers and developers of multi-unit properties. Our flexibilities can help homebuyers by acceptinga broader range of down payment sources and higher ratios. We can also help developers with reduced equity requirements,lower premiums, flexibility in cash flow requirementsand loan advancing. Without CMHC's assistance, it would have been very difficultto proceed with this project as an affordable development. Mortgage loan insurance flexibilities. One more way CMHC helps Canadiansmeet their housing needs.
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