News 

Hunter Biden-linked company received $130M in special federal loans while Joe Biden was VP

“Three weeks after Rosemont Seneca was incorporated, a subsidiary of Rosemont Capital called Rosemont TALF SPV, received $23.5 million in federal loans through the TALF program” reports washingtonexaminer.com. Another investor in Rosemont’s TALF fund, called “Rosemont TALF Opportunities Fund II,” was also based in the Cayman Islands.Additional Rosemont TALF investors included two Greek shipping magnates, a California class action attorney and a financial trust based in Liberia.The fund was managed by a Delaware-based subsidiary of Rosemont called “Rosemont TALF GP,” SEC records show. Source: washingtonexaminer.com

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Markets News 

Junk loan market tensions signal end of buyout-led binge

“But the more cautious mood in the market about where the U.S. economy is headed has made loan investors insist on stricter terms, including higher interest rates” writes Midwest Communications Inc for 95kqds.com. Leveraged loans, unlike bonds, have a floating interest rate, which is less attractive in a falling interest rate environment.Private equity investors use leveraged loans to fund purchases of companies with a lot of debt, resulting in credit ratings at the lower end of the spectrum.This could ultimately restrict access to capital for the most heavily leveraged companies,…

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News 

Democrats will avoid the real causes of the student loan crisis at Wednesday’s debate

“Democrats act as if the only solutions to this crisis are the Magic Student Loan Debt Eraser, refinancing student debt and/or tuition-free college” writes Jimmy Sengenberger for marketwatch.com. The real cause of the student loan debt crisis is clear: Liquidity provided by the federal government enables colleges and universities to raise their prices. Source: marketwatch.com

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News 

More N.J. students can’t pay their college loans. See how your school stacks up.

“By the end of September, more than 7,300 students have recently defaulted on their federal school loans” writes J Dale Shoemaker for nj.com. The data from Federal Student Aid tracks federal loans students use at schools around the country.A whopping 14.53% of students defaulted on their federal loans this year.At New Jersey’s private schools, 6.43% of students defaulted on their federal loans this year.Nationally, about 9.6% of students who use federal loans at public colleges default on their loans while in New Jersey that rate is only 7.74%. Source: nj.com

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Crypto News Platforms 

Crypto Platform Celsius Network Reaches $4.25 Billion in Total Loans

“Cryptocurrency platform Celsius Network announced that it reached $4.25 billion in total crypto loan origination as of Nov. 12 in a press release shared with Cointelegraph” writes Adrian Zmudzinski for cointelegraph.com. Still, some uncertainties remain as to how crypto lending should be regulated.The latest data shows that the nascent cryptocurrency lending industry is growing rapidly.Celsius reached $4.25 billion of cryptocurrency loans since the start of its activity in July 2018 calculated at current Bitcoin (BTC) prices, a 93% increase from the $2.2 billion reported on Aug. 1, 2019. Source: cointelegraph.com

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AUD News 

Australian mortgage arrears still low, little risk: RBA

“He said loans granted since Australian regulators began tightening bank lending standards in 2014 had an arrears rate almost 40 basis points lower than loans before that” writes Midwest Communications Inc for 95kqds.com. Nationally, about 15% of loans in arrears were in negative equity, but that was equivalent to just 0.1% of all housing loans, Debelle added.”The lower arrears rates for more recent loans suggests these tighter lending standards have been effective,” Debelle said.In a speech in Sydney, Guy Debelle, the deputy governor of the Reserve Bank of Australia (RBA),…

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Markets News 

China central bank injects 200 billion yuan to boost liquidity, keeps rate unchanged

“SHANGHAI (Reuters) – China’s central bank extended 200 billion yuan ($28.60 billion) through its medium-term lending facility on Friday, the second time it has done so this month, while keeping the lending rate unchanged” writes Midwest Communications Inc for 95kqds.com. The move to add long-term funds caught the market off guard as the central bank had already injected funds last week.Last week, the central bank cut the interest rate on MLF loans for the first time since February 2016, but only by a marginal 5 basis points. The central bank…

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News 

Millennials know what they’d do if they didn’t have to pay their student loans: Pay off everything else

“Imagine just how much that would grow if you were able to turn that monthly student-loan payment of $393 into a monthly investment payment” writes Hillary Hoffower for businessinsider.com. The average student-loan debt total per person is $31,172, and the average monthly student loan payment for graduates is $393, according to Credit.com.If one were to put the monthly student-loan payment average toward this sum, they’d be able to pay off the average credit-card debt in just over 14 months.Student-loan debt can eat up a big chunk of a paycheck every…

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Refinancing your student loans with Earnest can help you pay them back on a timeline that works for you

“This is especially true if you have private student loans, although federal student loan borrowers may be able to save money with a student loan refinance as well” writes Clint Proctor for businessinsider.com. If you have federal student loans, it’s important to point out that they come with special benefits, such as student loan forgiveness options and income-driven repayment plans.And if your student loans are private, refinancing them with Earnest could be a major slam dunk. Source: businessinsider.com

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News 

U.S. fines former Deutsche Bank subprime chief over alleged mortgage fraud

“More than half the loans were made by Deutsche Bank’s DB Home Lending unit, then known as Chapel Funding” writes Midwest Communications Inc for 95kqds.com. Mangione was not responsible for Deutsche Bank’s RMBS practices and disclosures to investors, which were at the core of the government’s claims against him.”.  Source: 95kqds.com

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