Connect with us

Bitcoin

April 2008 Mortgage Licensing Update

Published

on

The April Mortgage Licensing Update includes the following updates:

o FHA Licensing Bond – Will it ever pass?

o Alaska Mortgage Licensing – July 1, 2008

o New York Mortgage Licensing – Transition to NMLS

o Surety Bond Issues – Massachusetts, District of Columbia, and New York

o HUD Exempt States – This is really interesting

FHA Licensing Bond

Congress has been working on reconciling the FHA Modernization Act for months now and although it appears every week that they are making progress, it is still very unclear whether a bond provision will be in the new law. If you are looking to do FHA loans and you don’t meet the $63,000 net worth requirement, I recommend looking into other options. There are many companies out there that will allow you the independence you desire while operating under their HUD approval.

Alaska Mortgage Licensing

Although you won’t find anything on Alaska’s website, mortgage broker and lender licensing are required by July 1, 2008. The contact is Roger Prince at (907) 269-8144. My recommendation is to contact him as soon as possible if you desire to originate in Alaska after July 1, 2008.

New York Mortgage Licensing

The transition for New York Mortgage Brokers and Bankers to the NMLS has started. Beginning April 1, 2008 you can now submit your company information into the NMLS. The deadline for transition is September 1, 2008. With the complete incompetence of the New York Banking Departments Mortgage Licensing Division, there is great concern that they will be able to handle this in a professional manner. It could turn out very bad for many companies if this does not go smoothly, but it is possible that the NMLS will eventually streamline the process of getting licensed in New York, which at this time is the most difficult state for licensing in the nation. My hope is that they clean house over there and get rid of the people that are uncooperative and rude.

Surety Bond Issues

Massachusetts, District of Columbia, and New York are becoming very difficult states to place bonds in. Hartford issued a letter that they would not be renewing any Massachusetts bonds. District of Columbia has made some changes to the way they interpret the bond increasing the liability for the carrier, and New York has been making so many claims on the bonds that no surety carrier wants to write them anymore. My recommendation to you is to contact these states if you are licensed in them and complain. They need to make some changes to their surety bonds and the way they use them or the mortgage companies in these states are going to lose their licenses or be forced to pay a lot of money to get the bonds. Let your voices be heard.

HUD Exempt States

HUD approval allows you to do FHA loans, but it also has another added benefit: HUD exemptions. About 10 years ago, you could be exempt in most states if you were approved to broker FHA loans, but slowly the states have taken away these exemptions. Here is the list of states that still have some form of exemption in their laws. Keep in mind that some of these exemptions will not apply to you and some lenders do not accept exemptions.

Alabama

Hawaii under Foreign lender exemption (some banks don’t take it though – most do)

Oklahoma if you have a FHA nationwide direct lending branch or a FHA approved branch with a lending area that includes OK.

Ohio if you only originate HUD loans.

Missouri

Indiana if you originate 25 FHA loans per year in IN as of 1/1/08 OR if you have a Full-Eagle.

Kentucky if you originate 12 FHA loans per year in KY.

Tennessee will allow you to register instead of license, which removes the $90,000 bond requirement, however, if you are already licensed, you will be required to keep the bond for 2 years after changing from licensee to registrant.

Texas as a full-eagle under the mortgage banker registration (Must have DE Underwriter on staff)

google news

Bitcoin

Good Games Guild Announces Triple IDO on Seedify, Ignition, MoonStarter

Published

on

Panther and BUMPER Protocol announce partnership to provide seamless DeFi user experience

Jakarta, Indonesia, 24th October, 2021,

Good Games Guild, a gaming hub that aims to create the largest virtual world economy by optimizing its owned assets to get maximum yield, has announced that it will be introducing the $GGG token on three of the leading IDO platforms in early November 2021.

After finalizing their seed funding round and a private round, valued at a combined $1.7 million, the team at Good Games Guild are pleased to confirm that they will be carrying out the Triple IDO on Seedify, Ignition, and MoonStarter.

Here are the details for the IDO event:

  • IDO Price: $0.30 per token
  • Total Fundraising Target: $360,000
  • Number of Tokens to be Sold during IDO: 1,200,000 $GGG
  • Initial Market Capitalization: $387,750 (Exclude Liquidity Provision — At IDO Price)
  • Official $GGG token contract address: TBA
  • Blockchain Tech Platform: Binance Smart Chain (BSC) & Solana Chain (SOL)

Here are the details for the Triple IDO:

  • Good Guild Games is launching its $GGG token on the following IDO Platforms:

— MoonStarter

MoonStarter is a decentralized, multi-chain IDO Launchpad that supports innovative crypto projects across all blockchains with a goal to become the single-stop multi-chain launchpad for selected projects.

Here are the details for the token sale:

  • Number of Tokens to be Sold on MoonStarter: 116,666 $GGG
  • IDO Allocation: $35,000
  • Date and Time: November 2nd, 2021
  • Place: https://app.moonstarter.net/
  • Whitelist and Lottery Details: TBA
  • Token Type: Binance Smart Chain (BSC)

— Ignition

Operating as a decentralized swapping protocol, Ignition allows blockchain-based token projects to offer their private and public auctions to participants, leveraging both PAID Network and Polkadot technology. Ignition places a strong emphasis on creating a loyal community, which will best serve both projects and investors in the long-term.

  • Number of Tokens to be Sold on Ignition: 416,666 $GGG
  • IDO Allocation: $125,000
  • IDO Details:
    • Lottery open: Tuesday, October 21st, 2021, 2 PM UTC.
    • Lottery close: Friday, October 29th, 4 AM UTC.
  • GGG IDO: Wednesday, November 3rd, 11 AM UTC.
  • Token Type: Binance Smart Chain (BSC)
  • How to join? Check links below:

— Seedify

Seedify is an incubator and launchpad for blockchain games and gamers. At Seedify, they provide curated Initial Game Offerings (IGOs) through their platform, supporting quality blockchain games with reaching crowdsourced funding, as well as helping projects with community building and marketing efforts; all while providing an avenue for the community to get the tokens of upcoming blockchain games before they get listed on exchanges.

About Good Games Guild

Good Games Guild is a Gaming Hub that aims to create the largest virtual world economy by sponsoring millions of play-to-earn gamers, investing in play-to-earn games and their in-game assets, and building tools that will enhance the future of gaming and the Metaverse.

Good Guild Games is also a decentralized autonomous organization (DAO) that focuses on non-fungible tokens (NFTs) that are frequently used in blockchain-based games & virtual products.

Contacts
google news
Continue Reading

Bitcoin

Bullish Avalanche (AVAX) Will Hit $71 Soon?

Published

on

Bullish Avalanche (AVAX) Will Hit $71 Soon?
  • Avalanche’s first desktop wallet launched version 2.0.
  • AVAX price will also hit its strong resistance level of $71 soon.
  •  we can also expect AVAX price may regain its lost position.

A layer one blockchain that functions as a platform for decentralized applications (dApps) and custom blockchain networks is Avalanche. Recently, Avalanche’s first desktop wallet launched version 2.0. The new features in version 2.0 are quite compatible with all the DApp on Avalanche blockchain. With this new update, Avalanche (AVAX) could climb up to its peak in the forthcoming days. Avalanche’s (AVAX) price will also hit its strong resistance level of $71 soon.

Accordingly, in the time of mid-may, the AVAX price experienced a huge crash after this now the asset went parabolic. After witnessing the ups and downs, AVAX has shown a bullish sign and surge over $60. Eventually, with the latest drop and corrections, the AVAX price chart has formed the w-shaped pattern and broke the resistance level, and moved upwards.

Furthermore, since the mid of August, the AVAX platform has undergone an immense surge of volume, which has given huge confidence and a boost to the price. After the recent up and downs from $60 to nearly $50 and also reached the resistance level. Therefore, as forementioned, AVAX formed a w-shape. Henceforth, with a recent gain in AVAX price, the asset broke the next resistance level and moved towards a strong resistance level at $71. If it breaks the resistance level then we can expect a new all-time high (ATH) soon.

AVAX Current Market Status 

As per CoinMarketCap, AVAX’s price has been trading at $66.73 with a 24-hour trading volume of $539,966,583. AT press time, in the last 24 hours, AVAX price has increased by over 1.90%. The circulating supply of AVAx is 220,286,577.21 AVAX. It can be traded in top crypto exchanges such as Binance, Coinbase, Huobi Global, Bitfinex, Gate.io, Kucoin, and more.

More so, currently, the chart displays an ascending channel pattern, if this trend continues then the levels at 1.4 FIB levels at $126 could be an achievable target. And we can also expect Avalanche’s (AVAX) price may regain its lost position and reach more heights will the new ATH.

google news
Continue Reading

Bitcoin

JPMorgan Says, Worries About Inflation Drive-Up Bitcoin’s Price

Published

on

Bitcoin
  • The initial hype with BITO could fade after a week.
  • Gold used to be an effective tool to hedge against inflation.
  • The second bitcoin futures ETF in the U.S. launched Friday.

As opposed to investment opportunities in newly created futures trading exchange-traded funds. According to the global investment firm JPMorgan, inflation fears are driving bitcoin prices to record highs (ETFs). “The flow shift continues intact, supporting a bullish prognosis for bitcoins through year-end.” The business said, noting that investors are shifting their money away from gold ETFs and towards bitcoin funds.

A research note issued this week by JPMorgan Chase analysts led by Nikolaos Panigirtzoglou explained that inflation. Instead, the excitement surrounding the first U.S. futures trading exchange-traded fund has already been driving up. The price of bitcoin to all-time highs (ETF).

After just one day of trading, the Proshares Bitcoin Strategy ETF (ticker: BITO) has garnered almost $1 billion in assets under management. On Friday, the second bitcoin derivatives exchange-traded fund (ETF) in the United States opened.

They go on to say that “by itself. The introduction of BITO is unlikely to ignite a new phase of considerably. Additional fresh money into bitcoin,” and they provide the following explanation:

Our research indicates that bitcoin is perceived as an improved inflation hedge than gold. This perception, in turn, has prompted a transition away from gold ETFs and into bitcoin funds, which has occurred since September.

As the experts pointed out, “the initial excitement surrounding BITO may dissipate within a week or two.”

Earlier today, according to information from Bitcoin.com Markets. The price of bitcoin reached an all-time high of $66,899, a new all-time high. It is currently valued at around $61,249 at the time of writing. 

This index has climbed by roughly 40 percent. It is since the start of the month and by more than 90 percent since January 1, 2015. When the market expected the authorization of a bitcoin futures exchange-traded fund (ETF) by the Securities & Exchange Board of the United States. The bitcoin price significantly increased in value (SEC).

Not only have JPMorgan analysts clarified that the real driver behind bitcoin’s price increase has been starting to grow inflationary concerns.

But they’ve also mentioned that this has prompted investors to look at investments that, can act as a hedge against this risk, such as gold as well as bitcoin.

The gold standard was formerly seen as an effective inflationary buffer. However, it has been unable to respond effectively over the last week to growing concerns about rising cost pressures on the company.

google news
Continue Reading

Trending