Loan Principal – Flight 93 http://flight93.org/ Thu, 23 Sep 2021 23:38:59 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://flight93.org/wp-content/uploads/2021/07/icon-5-150x150.png Loan Principal – Flight 93 http://flight93.org/ 32 32 Kudlow grids wishlist for the progressive left http://flight93.org/kudlow-grids-wishlist-for-the-progressive-left/ Thu, 23 Sep 2021 22:24:31 +0000 http://flight93.org/kudlow-grids-wishlist-for-the-progressive-left/ FOX Business host weighs in on Democratic budget resolution on ‘Kudlow’ So, with the plunging Biden polls and the large gaps within the Democratic Party on spending and taxation, along with serious popular opposition from groups like the Save America Coalition, I really think Democrats are in. leak. They are back on their heels. They […]]]>

So, with the plunging Biden polls and the large gaps within the Democratic Party on spending and taxation, along with serious popular opposition from groups like the Save America Coalition, I really think Democrats are in. leak. They are back on their heels. They can’t understand their story.

Once again this evening, I express my support for Joe Manchin’s strategic “pause” which lasts until spring 2022. Our motivations may be a little different, but our current objectives are similar.

If the Democratic budget resolution fails to achieve reconciliation that far – which is, admittedly, an unlikely long term – then everything will die.

I think the Democratic public weakness after Biden’s meetings and the absurd press conference with Schumer and Pelosi has a lot to do with today’s huge stock rally and while insiders tell me President Biden has tells Democratic leaders to come up with their own spending topline and I presume taxes, at this point, this project seems impossible with Manchin at $ 1 trillion to $ 1.5 trillion.

Bernie Sanders’ budget was $ 3.5 trillion, and the actual gadget-free budget was around $ 5.5 trillion. This is a very big gap, and as the Tax Foundation estimates show, even the ways and means tax brand, which I think would do the economy a lot of harm, even that will only produce an increase. $ 1,000 billion in net income with dynamic Laffer curve scoring.

So $ 1 trillion will not pay $ 3.5 trillion or $ 5.5 trillion.

So there is another problem.

The attack on drug companies with excise taxes, price controls and forced subsidies will not bring in nearly $ 700 billion, if left unchecked. By the way, reconciliation under the old Byrd rule is supposed to reduce deficits.

The Democratic Wish List will increase deficits and debt by at least $ 15 trillion over the next 10 years and possibly much more.

Then you have the so-called moderates in the Democratic House who tend to be more pro-business, but their holy grail is a reinstatement of the SALT tax deduction in order to satisfy their wealthy suburban voters.

In itself, that could be a deal breaker in the House. Republicans rightly oppose it in the name of tax reform.

Why should Nebraska and Oklahoma pay for New York and New Jersey? Far left progressives don’t like it because they look at everything through the lens of class warfare and this one doesn’t fit the bill as it would help rich people and we shouldn’t do it , no? Wrong!

In fact, what should happen here is that the corporate tax cut and Trump’s corporate spending program should be made permanent and the top tax rate should drop to 30% while that the income tax base should be broadened, but alas, that will not happen.

Meanwhile, on the spending side, the main reason I would like to see this bill eliminated is the dramatic increase in rights spending.

The federal government’s family paid vacation plan, as well as a trillion dollar increase in the child tax credit (which is a massive increase in spending through the tax code), as well as increases in the tax code. dependent child care (the former AFDC social protection program) and free universal pre-K education and other dependent care – these are middle class rights with eligibility up to – withhold your breath – up to $ 200,000.

Here’s one more: The progressive wishlist on the left also includes cancellation of student loans up to $ 50,000. This is another bad idea. It is the middle class that bail out the rich.

No, I’m not a class warrior, but if the rich want to go to college, then pay for it and go to college.

We have already postponed student loan payments of over $ 100 billion. At zero interest rates, borrowers should refinance their loans, reducing principal and interest to significantly ease the debt burden.

The worst offenders here are these permanent graduate students who are mostly left freaks who can’t find work.

I don’t want to forgive them anything. I don’t even want to forgive them for being.

All these rights of the middle class, which respond to the left progressive dream of a universal guaranteed basic income, have no conditions of work or education. Work and education are the best anti-poverty programs ever.

Work and education are the keys to climbing the ladder of opportunity, but Democrats want to try and transform the very essence of the American idea. They want to destroy the core fabric of American society.

The government will pay you, no need to work. It is the great socialism of government.

It is an attack on free enterprise capitalism. It is a sure way to increase poverty, increase inequality, reduce labor participation and further engage in serfdom.

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Is this really what we want? I do not think so.

I think the public is increasingly agreeing with my point of view. So, just to make up a phrase: save America. Kill the bill. This is my riff.


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The Docket: local court raid for 9.23.21 http://flight93.org/the-docket-local-court-raid-for-9-23-21/ Thu, 23 Sep 2021 09:08:44 +0000 http://flight93.org/the-docket-local-court-raid-for-9-23-21/ Chesterfield Circuit Court Kapitus Servicing, Inc. v. Michael Linan d / b / a Capital Siding and Roofing ContractorsThe plaintiff claims that the Texan company is in default of a forward purchase contract and seeks a judgment in the principal amount of $ 57,436.Lawyers: Nhon H. Nguyen, Timothy A. Hennigan and Charles D. Waters de […]]]>

Chesterfield Circuit Court

Kapitus Servicing, Inc. v. Michael Linan d / b / a Capital Siding and Roofing Contractors
The plaintiff claims that the Texan company is in default of a forward purchase contract and seeks a judgment in the principal amount of $ 57,436.
Lawyers: Nhon H. Nguyen, Timothy A. Hennigan and Charles D. Waters de Nguyen | Ballato
Filed: 9/9/2021
CL21003057

Strategic Funding Source, Inc. v Aloha Car Service, LLC d / b / a Aloha Car Service; and Warren Kobatake
The plaintiff claims that the Honolulu company is in default of a loan agreement and seeks a judgment in the principal amount of $ 43,735.
Lawyers: Nhon H. Nguyen, Timothy A. Hennigan and Charles D. Waters de Nguyen | Ballato
Filed: 9/9/2021
CL21003058

Kapitus Servicing, Inc. v. New World Dance d / b / a New World Dance; and Marsha Field
Aligo
The plaintiff claims that the California company is in default of a forward purchase contract and seeks a judgment in the principal amount of $ 33,792.15.
Lawyers: Nhon H. Nguyen and Timothy A. Hennigan de Nguyen | Ballato
Filed: 9/9/2021
CL21003059

Kapitus Servicing, Inc. v. McClain Media, LLC d / b / a Impact Horsepower; Dante McClain; and Mikala Parsons
The plaintiff claims that the Nevada company is in default of two financial agreements and seeks a judgment in the principal amount of $ 70,215.50.
Lawyers: Nhon H. Nguyen and Charles D. Waters de Nguyen | Ballato
Filed: 9/9/2021
CL21003060

Kapitus Servicing, Inc. v. Holloway Truck and Trailer Repair LLC d / b / a Holloway Truck and Trailer Repair d / b / a Holloway Truck
The plaintiff claims that the Georgia company is in default of a forward purchase contract and seeks judgment in the principal amount of $ 131,912.
Lawyers: Nhon H. Nguyen and Timothy A. Hennigan de Nguyen | Ballato
Filed: 9/9/2021
CL21003061

Charles G. Mitchell v. John J. Coalson Jr. and Coalson Enterprises, Corp.
The plaintiff alleges malicious prosecution and abuse of process, and claims that the defendants filed a police report and criminal complaint against him which contained lies, omissions and intentionally misleading statements, leading to his arrest, and that the Defendants’ motive, apart from malice, was to stop, obstruct or delay the plaintiff in pursuing two lawsuits against CEC alleging that CEC owes the plaintiff more than $ 400,000 for unpaid work under contract . The plaintiff seeks compensatory damages of $ 1 million and punitive damages of $ 1 million.
Lawyers: Stephen Bryce Wood of Wood Law Firm
Posted: 09/13/2021
CL21003103

Henrico circuit court

Jane Doe (pseudonymously) v. Massage Luxe International, LLC; Holding On Our Dreams, LLC d / b / a Massage Luxe; Hood Latoya Monea; Quinton D. Hood; and Shawn Lamont Robinson
Plaintiff says that on September 14, 2019 / around September 14, 2019 Defendant Robinson was assigned to perform her massage as a regular therapist in the business at 9054 Staples Mille Road was not available and that during the massage , she repeatedly attempted to penetrate her anus through her underwear, and when she contacted the defendant company to report the assault, she was offered a refund of $ 15, the price of the oil. used during massage. The complainant says based on information and belief, two women accused Robinson of sexual assault in 2018, at Massage Envy in Chesterfield. The plaintiff alleges negligence and seeks a judgment of $ 7 million and punitive damages, $ 350,000.
Lawyers: Courtney Leigh Winston of Christina Pendleton & Associates
Filed: 9/2/2021
CL21005869

Strategic Funding Source, Inc. v. Eidolon Analytic, Inc. d / b / a Eidolon Analytic; and Crystal Schaefer
The plaintiff claims that the Florida company is in default of a loan agreement and seeks a judgment in the principal amount of $ 45,907.22.
Lawyers: Nhon H. Nguyen, Timothy A. Hennigan and Charles D. Waters de Nguyen | Ballato
Filed: 8/9/2021
CL21006020

Kapitus Servicing, Inc. v Triox Technology Group, LLC d / b / a Triox Technology Group; and Thanh Chieu Hergott
The plaintiff claims that the Washington State company is in default of a future receivables factoring agreement and seeks a judgment in the principal amount of $ 30,952.
Lawyers: Nhon H. Nguyen, Timothy A. Hennigan and Charles D. Waters de Nguyen | Ballato
Filed: 8/9/2021
CL21006022

Kapitus Servicing, Inc. v Kids Learn & Care, LLC d / b / a Kids Learn & Care; and Tara Adeyeye
The plaintiff claims the Ohio company is in default of a loan agreement and seeks a judgment in the principal amount of $ 32,620.
Lawyers: Nhon H. Nguyen and Charles D. Waters de Nguyen | Ballato
Filed: 8/9/2021
CL21006024

Colonial Funding Network, Inc. v. Stronghold Construction, Inc. d / b / a Strong Hold Construction; and Jan Graham
The plaintiff claims that the Illinois company is in violation of two financial agreements and seeks a judgment in the principal amount of $ 55,872.
Lawyers: Nhon H. Nguyen and Charles D. Waters de Nguyen | Ballato
Filed: 8/9/2021
CL21006025

Kapitus Servicing, Inc. v Cat & I, LLC d / b / a Cat & I; and John Matthew III
The plaintiff claims that the Florida company is in default of a future receivables factoring agreement and seeks a judgment in the principal amount of $ 131,162.21.
Lawyers: Nhon H. Nguyen, Timothy A. Hennigan and Charles D. Waters de Nguyen | Ballato
Posted: 09/13/2021
CL21006149

Kapitus Servicing, Inc. v. Ms. Automotive Inc. d / b / a Ms. Automotive; and James Lee
The plaintiff claims that the Maryland company is in default of a loan agreement and seeks a judgment in the principal amount of $ 78,550.
Lawyers: Nhon H. Nguyen and Charles D. Waters de Nguyen | Ballato
Posted: 09/13/2021
CL21006151

Kapitus Servicing, Inc. v. Open Range Access, Inc. d / b / a Open Range Access; and Jonathan Manz
The plaintiff claims that the Colorado company is in default of a future receivables factoring agreement and seeks a judgment in the principal amount of $ 55,856.40.
Lawyers: Nhon H. Nguyen and Timothy A. Hennigan de Nguyen | Ballato
Posted: 09/13/2021
CL21006154

Kapitus Servicing, Inc. v Highport Arms, LLC d / b / a Highport Arms; and Brian Drummond
The plaintiff claims that the Texas company is in default of a future receivables factoring agreement and seeks a judgment in the principal amount of $ 107,374.
Lawyers: Nhon H. Nguyen and Timothy A. Hennigan de Nguyen | Ballato
Posted: 09/13/2021
CL21006156

Kapitus Servicing, Inc. v. H & B Store Front and Mirror Co d / b / a H&B Storefront & Mirror Co
The plaintiff claims that the Georgia company is in default of a future receivables factoring agreement and seeks a judgment in the principal amount of $ 95,668.
Lawyers: Nhon H. Nguyen and Timothy A. Hennigan de Nguyen | Ballato
Posted: 09/13/2021
CL21006157

Richmond Circuit Court

Mary Hollis Skirt c. AEG presents Mid-Atlantic, LLC a / k / a The National
The Complainant seeks damages in the amount of $ 500,000 and says that on or about February 21, 2020, she was caused to slip and fall to the theater floor due to the negligent actions / inactions of the Defendant, suffering permanent injuries.
Lawyers: Benjamin R. Rand of Blackburn, Conte, Schilling & Click
Posted: 09/13/2021
CL21003993

Tashonie Bryant v. NC Financial Solutions of Utah, LLC d / b / a NetCredit; and Experian Information Solutions, Inc.
The complainant says that following a confidential settlement with NetCredit in July 2019 that resolved all claims related to a loan agreement, she challenged, through a lawyer, Experian’s report on the loan, explaining in September, October and November 2019, that NetCredit’s false and derogatory reports had been violated. the Federal Fair Credit Reporting Act. The complainant claims that the report negatively impacted her credit rating and damaged her reputation, and seeks a judgment of $ 100,000 and punitive damages of $ 1 million.
Lawyers: Drew D. Sarrett of Consumer Litigation Associates
Posted: 09/14/2021
CL21004123

Kapitus Servicing, Inc. v Universal Security Guard Association, Inc. d / b / a Universal Security Guard Association; James Luxama; and Gina Laguerre
The plaintiff claims that the Florida company is in default of a future receivables factoring agreement and seeks a judgment in the principal amount of $ 82,630.
Lawyers: Nhon H. Nguyen and Timothy A. Hennigan de Nguyen | Ballato
Posted: 09/13/2021
CL21004129

Kaye Finton v Blackstone Animal Clinic, LLC
The complainant says that on April 9, 2021 / around April 9, 2021, she slipped on a substance in the ground at 1638 Cox Road, Blackstone, causing her to fall and sustain serious physical injuries. The plaintiff seeks a judgment of 10 million dollars.
Lawyers: John R. Newby of Tronfeld West & Durrett
Posted: 09/17/2021
CL21004143

Ryan Brewer, an infant, by his father and next friend, John Brewer c. Boddie-Noell Enterprises, Inc. d / b / a Hardees
The complainant says that on May 3, 2019, at the restaurant at 1120 E. Nine Mile Road, Ryan, 3, sustained a serious finger injury when the bathroom door slammed on it. The plaintiff seeks a judgment of $ 72,000.
Lawyers: Bridget Long of Allen, Allen, Allen & Allen
Posted: 09/17/2021
CL21004159


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Text of the Fed’s September monetary policy statement http://flight93.org/text-of-the-feds-september-monetary-policy-statement/ Wed, 22 Sep 2021 18:14:00 +0000 http://flight93.org/text-of-the-feds-september-monetary-policy-statement/ To be released at 2 p.m. EDT September 22, 2021 The Federal Reserve has pledged to use its full range of tools to support the U.S. economy during these difficult times, promoting its maximum employment and price stability goals. Thanks to progress in immunization and strong political support, economic activity and employment indicators continued to […]]]>

To be released at 2 p.m. EDT September 22, 2021 The Federal Reserve has pledged to use its full range of tools to support the U.S. economy during these difficult times, promoting its maximum employment and price stability goals. Thanks to progress in immunization and strong political support, economic activity and employment indicators continued to strengthen. The sectors most affected by the pandemic have improved in recent months, but the increase in COVID-19 cases has slowed their recovery. Inflation is high, largely reflecting transient factors. Overall, financial conditions remain accommodative, partly reflecting policy measures aimed at supporting the economy and the flow of credit to US households and businesses. The trajectory of the economy continues to depend on the evolution of the virus. Advances in immunization are likely to continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain. The Committee seeks to achieve a maximum employment and inflation rate of 2% in the longer term. As inflation has remained below this longer-term target, the Committee will aim to maintain inflation just above 2% for a period of time, such that inflation averages 2% over time and that long-term inflation expectations remain firmly anchored at 2%. The Committee expects to maintain an accommodative monetary policy until these results are achieved. The Committee has decided to maintain the target range for the federal funds rate at 0 to 1/4 percent and expects it to be appropriate to maintain this target range until labor market conditions. have reached levels consistent with (continued) For release at 2 p.m. EDT September 22, 2021 -2- Peak employment and inflation estimates have risen to 2 percent and are on track to moderately exceed 2 percent for a certain time. Last December, the Committee said it would continue to increase its holdings of treasury securities by at least $ 80 billion per month and agency mortgage-backed securities by at least $ 40 billion. per month until further substantial progress is made towards its maximum employment and price stability goals. Since then, the economy has progressed towards these goals. If progress continues overall as planned, the Committee believes that a moderation in the pace of asset purchases could soon be justified. These asset purchases help promote smooth functioning of markets and supportive financial conditions, thereby supporting the flow of credit to households and businesses. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of the information received for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy if necessary if risks arose that could impede the achievement of the Committee’s objectives. The Committee’s assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflationary pressures and inflation expectations, and financial and international developments. Jerome H. Powell, chairman, voted for monetary policy action; John C. Williams, vice-president; Thomas I. Barkin; Raphaël W. Bostic; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Daly; Charles L. Evans; Randal K. Quarles; and Christopher J. Waller. -0- To be released at 2 p.m. EDT on September 22, 2021 Decisions Regarding the Implementation of Monetary Policy The Federal Reserve has taken the following decisions to implement the monetary policy direction announced by the Federal Open Market Committee in his statement of September 22, 2021: The Board of Governors of the Federal Reserve System voted unanimously to keep the interest rate paid on reserve balances at 0.15%, effective September 23, 2021. • In As part of its policy decision, the Federal Open Market Committee voted to authorize and direct the Open Market Desk at the Federal Reserve Bank of New York, until instructed otherwise, to execute trades on the open system account. market in accordance with the following national policy directive: “As of September 23, 2021, the Federal Open Market Committee directs the Desk to: o Undertake open market operations as necessary to maintain the rate of f Federal waves in a target range of 0 to 1/4%. o Increase the open market system Account holdings of treasury securities of $ 80 billion per month and agency mortgage-backed securities (MBS) of $ 40 billion per month. o Increase holdings of Treasury securities and agency MBS by additional amounts and purchase agency commercial mortgage backed securities (CMBS) as necessary to keep markets for these securities functioning properly. o Carry out overnight buyback operations with a minimum bid rate of 0.25% and with an overall transaction limit of $ 500 billion; the overall operating limit may be temporarily increased at the discretion of the president. o Carry out overnight reverse repurchase transactions at an offer rate of 0.05% and with a counterparty limit of $ 160 billion per day; the limit per counterparty may be temporarily increased at the discretion of the President. o Renew all principal payments from Federal Reserve holdings of Treasury securities at auction and reinvest all principal payments from Federal Reserve holdings of agency debt and agency MBS into agency MBS. o Allow modest deviations from the amounts indicated for purchases and reinvestments, if necessary for operational reasons. o Engage in dollar and coupon exchange transactions as necessary to facilitate the settlement of Federal Reserve agency MBS transactions. the Federal Reserve voted unanimously to approve setting the primary lending rate at the current level of 0.25%. This information will be updated as necessary to reflect decisions of the Federal Open Market Committee or the Board of Governors regarding the details of the Federal Reserve operational tools and approach used to implement monetary policy. regarding open market operations and reinvestments can be found on the website of the Federal Reserve Bank of New York.

 

(MORE TO FOLLOW) Dow Jones Newswires

September 22, 2021 at 2:14 p.m. ET (6:14 p.m. GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.


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Rising home prices have pushed home buying out of reach on major US subways http://flight93.org/rising-home-prices-have-pushed-home-buying-out-of-reach-on-major-us-subways/ Tue, 21 Sep 2021 23:00:59 +0000 http://flight93.org/rising-home-prices-have-pushed-home-buying-out-of-reach-on-major-us-subways/ Strong points Following our recent review of national housing affordability trends, this study finds that none of the 11 largest metropolitan areas has a current typical payment share of income that exceeds the values ​​observed in 2008 and 2018, two periods when national payment shares were highest. Additionally, although mortgage payments as a percentage of […]]]>
Strong points
  • Following our recent review of national housing affordability trends, this study finds that none of the 11 largest metropolitan areas has a current typical payment share of income that exceeds the values ​​observed in 2008 and 2018, two periods when national payment shares were highest.
  • Additionally, although mortgage payments as a percentage of income are increasing, the 11 largest metropolitan areas currently have a higher payment share, lower than previous local highs.
  • Homebuyers in the Los Angeles metro area spent 13.4% of their additional monthly income on mortgage payments compared to last year, experiencing the biggest affordability issues.
  • Median selling prices are up more than 20% in the metropolitan areas of San Francisco, Atlanta, Los Angeles and Chicago, compared to last May. The weakest price growth was seen in the Philadelphia subway, but even there the typical selling price rose 8.4%.

As concerns over record house prices continue to rise across the country, a recent study by Realtor.com examined housing affordability issues at the national level. The study compared the current situation with historical records and found that homebuyers spent 21% of their income on housing payments in May 2021, higher than the monthly average for the past ten years (19.6%). , but still below historical peaks. This research also estimated that the increase in selling prices in July is expected to drive revenue payment shares to break the 2018 record (22%). In addition to rising prices, the potential for rising mortgage rates could push typical monthly costs to historically difficult levels, reaching an all-time high in 2008 (25%) if mortgage rates were to rise to 4.2%, a rate that was surpassed in 2018. In this research, we revisit the topic by examining whether homebuyers in the 11 largest metropolises in the United States are now surpassing themselves financially.

We use an income payment share to measure housing affordability. It compares median monthly mortgage payments for recent sales to the estimated median monthly household income at metropolitan levels. A higher value suggests that costs represent a larger proportion of family income each month, indicating a relatively less affordable housing market. Meanwhile, a lower share implies a much healthier housing environment.

Our national study concluded that the current lower interest rates mainly alleviated overextension issues, and this is also true for metropolitan areas. This report primarily focuses on the factors that vary across metro levels (i.e., selling price and down payment rates) and examines their impacts on local housing affordability.

AAccessibility issues increased the most in Los Angeles compared to last year

Figure 1 shows a set of results for the 11 largest metropolitan areas in the United States. While none of the regions hit all-time highs in May, many have clear upward trajectories. Table 1 compares the shares of monthly payments between May 2020 and May 2021. Affordability problems worsened most in Los Angeles, where May homebuyers spent 13.4% of their additional monthly income on payments. mortgage compared to last year. Buyers in Chicago and Atlanta are also facing higher mortgage payments than last May, as they spent 12.4% and 11.7% of their additional monthly income, respectively. There were a few exceptions. The Washington DC area housing market saw payment shares jump just 0.8%. In Philadelphia, stocks fell 1.2% from last May, suggesting buyers were facing slightly better affordability.

Figure 1: Income payment shares, 11 largest metropolitan areas

Table 1: Income payment shares, 11 largest metropolitan areas

Metropolitan areas May 2020 May 2021 Annual growth rate
Atlanta-Sandy Springs-Roswell, Georgia 17.7% 19.8% 11.7%
Boston-Cambridge-Newton, MA-NH 22.8% 25.0% 9.5%
Chicago-Naperville-Elgin, IL-IN-WI 15.7% 17.6% 12.4%
Dallas-Fort Worth-Arlington, Texas 17.4% 18.2% 4.8%
Houston-the Woodlands-Sugar, TX 16.0% 16.5% 3.1%
Los Angeles-Long Beach-Anaheim, California 36.0% 40.8% 13.4%
Miami-Fort Lauderdale-West Palm Beach, Florida 25.2% 26.7% 6.0%
New York-Newark-Jersey City, NY-NJ-PA 23.2% 24.6% 5.9%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 16.8% 16.6% -1.2%
San Francisco-Oakland-Hayward, California 31.4% 34.1% 8.5%
Washington-Arlington-Alexandria, DC-VA-MD-WV 19.6% 19.7% 0.8%

Surprisingly, the record selling prices have yet to put buyers at risk of exceeding previous historical norms. Additionally, the spreads could be even larger if current buyers have higher incomes and better credit scores than the typical metro area household compared to previous buyers, as this analysis uses the metropolitan area median income. instead of the income of home buyers.

Rising sales prices increase the risk of unaffordable housing

Our report at national level found that record home prices reduced affordability. Similar trends can be observed at metropolitan levels. Figure 2 shows the monthly payment shares and median house price trends for these subways. In May 2021, all median selling prices in these regions hit record highs. Specifically, as shown in Table 2, metro buyers in San Francisco, Atlanta, Los Angeles and Chicago experienced the most significant price inflation, all above 20% compared to last May. The Philadelphia metro area saw the smallest price increase, but growth was still as high as 8.4%. In addition, Figure 2 shows that payment shares and median selling prices have very similar upward trajectories over the past few months, suggesting that rising prices put buyers at high risk of overspending financially.

Figure 2: Income payment shares and median selling prices, 11 largest metropolises

Table 2: Median selling prices, 11 largest metropolitan areas

Metropolitan areas May 2020 May 2021 Annual growth rate
Atlanta-Sandy Springs-Roswell, Georgia 272,000 335,000 23.2%
Boston-Cambridge-Newton, MA-NH 505,000 595,000 17.8%
Chicago-Naperville-Elgin, IL-IN-WI 265,000 320,000 20.8%
Dallas-Fort Worth-Arlington, Texas 284,063 333,437 17.4%
Houston-the Woodlands-Sugar, TX 253,293 290,000 14.5%
Los Angeles-Long Beach-Anaheim, California 668,000 815,000 22.0%
Miami-Fort Lauderdale-West Palm Beach, Florida 335,000 380,000 13.4%
New York-Newark-Jersey City, NY-NJ-PA 459,000 537,000 17.0%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 285,900 310,000 8.4%
San Francisco-Oakland-Hayward, California 890,500 1,120,000 25.8%
Washington-Arlington-Alexandria, DC-VA-MD-WV 459,000 499,900 8.9%

The deposit is less worrying compared to the increase in sales prices in the metro

The other factor that varies by metro and can affect the affordability of housing is the down payment rate. A higher down payment rate suggests lower loan amounts and lower monthly payments when selling prices, mortgage rates, and other costs (i.e. insurance and taxes) remain constant. In other words, a decreasing deposit rate can result in higher monthly payments, which creates an affordability challenge. At National level, the median down payment rate in May was 13.3%, and we conclude that given current selling prices and mortgage rate levels, even reducing the down payment to 0 does not reach the peak of 2008. At the metro level, given the upward trends in recent months, as shown in Table 3, it seems that the down payment is a minor concern compared to the selling prices.

Table 3: Down payment rate, 11 largest metropolitan areas

Metropolitan areas May 2020 May 2021 Annual growth rate
Atlanta-Sandy Springs-Roswell, Georgia 5.5% 10.0% 80.8%
Boston-Cambridge-Newton, MA-NH 15.3% 18.5% 20.6%
Chicago-Naperville-Elgin, IL-IN-WI 8.5% 11.9% 39.9%
Dallas-Fort Worth-Arlington, Texas 18.6% 19.3% 3.3%
Houston-the Woodlands-Sugar, TX 18.4% 18.8% 2.0%
Los Angeles-Long Beach-Anaheim, California 17.8% 21.2% 19.4%
Miami-Fort Lauderdale-West Palm Beach, Florida 8.1% 14.0% 73.7%
New York-Newark-Jersey City, NY-NJ-PA 14.6% 17.1% 17.2%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 8.3% 10.6% 28.2%
San Francisco-Oakland-Hayward, California 22.5% 24.6% 9.3%
Washington-Arlington-Alexandria, DC-VA-MD-WV 7.6% 9.2% 21.3%

Methodology:

Mortgage amounts and sale prices are obtained from Realtor.com’s public records database through May 2021. The down payment is derived from the difference between the sale prices and the mortgage amounts. Sales to companies and businesses are excluded. We assume that all sales are less than 30 year fixed rate mortgages and apply the going national rate to the mortgage amounts to estimate the monthly payment. We take the median at metropolitan levels to represent the monthly payments for all sales, and the monthly payments consist of the principal and estimated mortgage interest (excluding taxes and insurance). Median household income data comes from Moody’s Analytics.


Jiayi Xu,

Danielle HaleDanielle Hale,

Sabrina speianuSabrina speianu


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Rocket Companies Announces Offering of Senior Notes Due 2026 and Senior Notes Due 2033 http://flight93.org/rocket-companies-announces-offering-of-senior-notes-due-2026-and-senior-notes-due-2033/ Tue, 21 Sep 2021 11:47:00 +0000 http://flight93.org/rocket-companies-announces-offering-of-senior-notes-due-2026-and-senior-notes-due-2033/ DETROIT, September 21, 2021 / PRNewswire / – Rocket Companies, Inc. (NYSE: RKT) (the “Company” or “Rocket Companies”), a Detroittechnology-based holding company of technology-driven real estate, mortgage and financial services companies – including Rocket Mortgage, Rocket Homes and Rocket Auto – today announced its subsidiaries, Rocket Mortgage, LLC (the “Issuer”) and the co-issuer of Rocket […]]]>

DETROIT, September 21, 2021 / PRNewswire / – Rocket Companies, Inc. (NYSE: RKT) (the “Company” or “Rocket Companies”), a Detroittechnology-based holding company of technology-driven real estate, mortgage and financial services companies – including Rocket Mortgage, Rocket Homes and Rocket Auto – today announced its subsidiaries, Rocket Mortgage, LLC (the “Issuer”) and the co-issuer of Rocket Mortgage, Inc. (the “co-issuer” and, together with the Issuer, the “Issuers”), propose to issue and sell $ 1.5 billion total principal amount of Senior Notes due 2026 and Senior Notes due 2033 (collectively, the “Notes”) in connection with an offer which will be exempt from the registration requirements of the Securities Act of 1933, as as amended (the “Securities Act”) (the “Offer”). The Notes will be jointly and severally guaranteed on a senior basis not guaranteed by all the national subsidiaries of the Issuers which guarantee the existing Notes of the Issuer.

The Issuer intends to use the net proceeds of the Offer (i) to purchase, pursuant to a separately announced takeover bid and solicitation of consent (the “Takeover Offer” ), all or part of $ 1.01 billion principal outstanding of the Issuer’s 5.250% Senior Bonds maturing in 2028 at the applicable redemption prices, plus accrued and unpaid interest, (ii) to pay the costs and expenses related to the Offer and the Public Offer, and (iii) for general corporate purposes.

The Notes are only offered to persons reasonably suspected of being Qualified Institutional Purchasers under Rule 144A under the Securities Act, and outside United States, to non-US investors in accordance with Regulation S. The Securities and associated collateral will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in United States in the absence of an effective registration statement or applicable exemption from registration requirements or in connection with a transaction not subject to the registration requirements of the Securities Act or any securities law of a state.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be illegal. This press release does not constitute an offer to buy or the solicitation of an offer to sell, and it is not a solicitation of consents with respect to the 5.250% Senior Bonds due 2028.

About rocket companies

Rocket Companies is a DetroitHolding company based on personal finance and consumer service brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial. Since 1985, Rocket Companies has been obsessed with helping clients achieve the American dream of home ownership and financial freedom. Rocket Companies delivers a cutting-edge customer experience powered by our simple, fast and reliable digital solutions. Rocket Companies has approximately 26,000 team members across United States and Canada. Rocket Companies ranked # 5 on the Fortune list of the “100 Best Companies to Work For” in 2021 and has been in the top third of the list for 18 consecutive years.

Forward-looking statements

Certain of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are generally identified by the use of words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, ” plan “,” “predict”, “plan”, “should”, “target”, “will”, “would” and, in each case, their negative or other terminology, different or comparable. These forward-looking statements reflect our point of view. view of future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee that these expectations will prove to be correct. All of these forward-looking statements are subject to risks and uncertainties, many of which are beyond our control, and could cause future events or results to materially differ. different from those stated or implied in this document. It is not possible to predict or identify all of these risks. These risks include, without limitation, the risk factors described in the section entitled “Risk Factors” in the documents filed by the Company with the Securities and Exchange Commission. These factors should not be construed as exhaustive and should be read in conjunction with the other caveats included in this press release and other documents. We expressly disclaim any obligation to update or publicly review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law.

SOURCE Rocket Companies, Inc.


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Credit union launches foreclosure on Carney’s Tavern property http://flight93.org/credit-union-launches-foreclosure-on-carneys-tavern-property/ Mon, 20 Sep 2021 23:01:11 +0000 http://flight93.org/credit-union-launches-foreclosure-on-carneys-tavern-property/ A credit union with a lien on the historic Carney’s Tavern property in Ballston Lake last week launched foreclosure against Rosemary Carney, asking the court to authorize the sale of the property. Saratoga County Court Federal Credit Union Sunmark on Thursday opened foreclosure proceedings against Carney, who the credit union said defaulted on a loan […]]]>

A credit union with a lien on the historic Carney’s Tavern property in Ballston Lake last week launched foreclosure against Rosemary Carney, asking the court to authorize the sale of the property.

Saratoga County Court Federal Credit Union Sunmark on Thursday opened foreclosure proceedings against Carney, who the credit union said defaulted on a loan of more than $ 600,000. The loan was secured by the property listed at 15 Main Street and 17-19 Main Street in Ballston Lake, which includes a small apartment, vacant lot and the historic pub closed in July after operators Matt and Stephanie Finnigan shut down in July. announced their intention to start a new business. (The Finnigans are not involved in the foreclosure proceeding.)

The Latham-based credit union in the court file describes a total lien of $ 692,000 on the property, noting that Carney still owed more than $ 520,000 on the principal of the unpaid debt, and asks the court to order the sale of the property to pay off that debt.

The building, built in the 1840s, has housed many taverns, inns and restaurants over the decades. Local musicians performed at the bar, and Burnt Hills-Ballston Lake graduates used the venue as a meeting place. The building was reportedly visited by Theodore Roosevelt as he was about to be sworn in as president.

Carney and his family have been affiliated with the property for almost 40 years, but the Finnigans had owned the pub business since 2013, leasing space from Carney. Finnigan, after announcing the pub’s closure, said the old building needed more investment than it thought it was worth the time, energy and expense.

“It’s too expensive and too big a project for us to even consider,” he said in July. “It was an overall nice place, unfortunately it’s just the condition of the building, it just expired. Every time you fix one thing, something else is wrong.

While Carney insisted that she planned to reopen the pub within days of Finnigan’s departure, she did not have the necessary liquor license to sell alcohol, and the pub remained closed at over the past two months.

The latest legal deposit suggests Carney also faces significant unpaid debts, and the property of Carney’s Pub could be linked to litigation – or sold to reduce debt. Carney was partially protected by personal bankruptcy proceedings pending between 2014 and 2019, according to court records, but his bankruptcy was dismissed in December 2019 for failing to make required payments under his repayment plan approved by the tribunal.

It is not clear whether Carney received the foreclosure summons filed in court last week. When reached by phone on Monday, she said it was the first time she had heard of the lockdown and declined to comment further.

The foreclosure file includes over 200 pages of supporting documents outlining numerous mortgages on the property that have been consolidated over the years, resulting in the lien held by Sunmark.

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Categories: Business, News, Saratoga County


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Phathom Pharmaceuticals: Loan and Guarantee Agreement (Form 8-K) http://flight93.org/phathom-pharmaceuticals-loan-and-guarantee-agreement-form-8-k/ Mon, 20 Sep 2021 12:12:19 +0000 http://flight93.org/phathom-pharmaceuticals-loan-and-guarantee-agreement-form-8-k/ Loan and Guarantee Agreement On September 17, 2021 (the “Closing Date”), Phathom Pharmaceuticals, Inc. (the “Company”) entered into a loan and guarantee agreement (the “Loan Agreement”) with Hercules Capital, Inc., in its as administrator and agent and guarantee agent and as lender (in that capacity, the “Agent” or “Hercules”) and other financial institutions which from […]]]>

Loan and Guarantee Agreement

On September 17, 2021 (the “Closing Date”), Phathom Pharmaceuticals, Inc. (the “Company”) entered into a loan and guarantee agreement (the “Loan Agreement”) with Hercules Capital, Inc., in its as administrator and agent and guarantee agent and as lender (in that capacity, the “Agent” or “Hercules”) and other financial institutions which from time to time become parties to the Loan Agreement as lenders ( collectively, the “Lenders”).

Rising. The Loan Agreement provides for term loans of up to $ 200.0 million in aggregate principal amount (the “Term Loan”) in installments. The tranches consist of (i) a first tranche consisting of term loans with a total principal amount of $ 100.0 million, all of which has been financed in favor of the Company at the closing date (the “First advance”), (ii) of a second tranche of up to an additional $ 50.0 million, which will become available to the Company once the main effectiveness evaluation criteria are specified in the protocol of the Company’s phase 3 trial investigating vonoprazan for the cure and maintenance of healing in erosive esophagitis with acceptable safety data, which will be made available to the Company results support application submission new drug or an additional new drug request without the need for another phase 3 study and will be available, if the specified conditions are met, until December 15, 2022, (iii) a third installment consistent into an additional $ 25.0 million, which will become available to Phathom upon obtaining (a) FDA approval of Phathom’s new drug application for vonoprazan and amoxicillin, or its new drug Application vonoprazan, amoxicillin and clarithromycin, in each case for an indication relating to the treatment of H. pyloriwith an approved indication on the claim that is generally consistent with that sought in Phathom’s New Drug Application; and (b) filing a Phathom New Drug Application or Vonoprazan Supplemental New Drug Application for indications relating to healing and maintaining healing of erosive esophagitis (steps (a)) and (b), together, the “second stage of performance”), and will be available, if the specified conditions are met, until September 30, 2023, and (iv) a fourth tranche comprising up to 25.0 million euros. additional dollars, which will be available, if the specified conditions are met, until March 31, 2024, upon fulfillment of the same conditions required for the availability of the third tranche. The Company intends to use the proceeds of the term loan advances for working capital and general business purposes. In addition, approximately $ 54 million of the proceeds of the first advance were used to fully settle and repay the Company’s debt under its previously outstanding credit facility with Silicon Valley Bank (the “SVB Term Loan “).

Interest rate and Refund. The Term Loan will mature on October 1, 2026 (the “Maturity Date”). The term loan bears (i) cash interest at a variable annual rate equal to the greater of (a) 5.50% and (b) the prime rate (as reported in The Wall Street Journal) plus 2.25 % (the “interest rate”) and (ii) payment in kindinterest at an annual interest rate equal to 3.35%. Phathom can only make interest payments until October 1, 2024, which can be extended until October 1, 2025, upon the achievement of the second performance milestone by September 30, 2024 and provided that no default or defect does not exist, and which may be extended until October 1, 2026, subject to FDA approval of Phathom’s new drug application (or additional new drug application) for vonoprazan for an indication for the cure and maintenance of the cure for erosive esophagitis with an approved label indication that is generally consistent with that sought in Phathom’s New Drug Application (or Drug Application Additional News) (the “Third Performance Milestone”) prior to September 30, 2025 and no defaults or events of default exist (the “Interest Only Period”). After the interest-only period, the principal balance and related interest must be repaid in equal monthly installments until the maturity date.

Commitments, declarations and guarantees; Other provisions.The loan agreement contains customary closing costs, prepayment charges and provisions, events of default, and representations, guarantees and commitments, including a financial commitment requiring Phathom to maintain certain levels of liquidity subject to agreement. control in favor of the agent (less accounts payable not paid within 120 days of invoice) (“qualifying cash”), and effective May 15, 2023, after three months of net income from the sale of vonoprazan and products containing vonoprazan. The revenue commitment will be canceled at any time Phathom maintains qualifying liquidity equal to at least 60.0% (before the third performance milestone) and 35% (after the third performance milestone) of the total principal outstanding amount. term loan, or Phathom’s market capitalization is at least $ 900.0 million.

Security. As security for the obligations, the Company has granted Hercules a first ranking security interest in all of the Company’s rights, titles and interests in, on and under substantially all of the Company’s property, including intellectual property.

The foregoing description of the terms of the loan agreement is not complete and is qualified in its entirety by reference to the full text of the loan agreement, which will be filed as attachments to the company’s next quarterly report. on form 10-Q.

To guarantee

In connection with the conclusion of the loan agreement, the Company issued to Hercules a warrant (the “Warrant”) to purchase a certain number of common shares of the Company, with a par value of $ 0.0001. per share (the “Common Shares”) equal to 2.5% of the total amount of term loan advances that are funded, as such amounts are funded. On the closing date, the Company issued a subscription warrant for 74,783 common shares. The Warrant may be exercised for a period of seven years from the date of issue to a per shareexercise price equal to $ 33.43, which was the closing price of the Company’s common shares on September 16, 2021.

The issuance of the Warrant by the Company to Hercules was made on the basis of the exemption from registration contained in Section 4 (a) (2) of the Securities Act of 1933, as amended.

The foregoing description of the terms of the warrant is not complete and is qualified in its entirety by reference to the full text of the warrant, which will be filed as an attachment to the Company’s next quarterly report on a form. 10-Q.

Termination of a material definitive agreement

The information provided in point 1.01 of this current report on form 8-Kconcerning the termination of the term loan SVB is incorporated by reference in this section 1.02.

Creation of a direct financial obligation or obligation under a ImbalanceSheet arrangement of a registrant.

The information provided in point 1.01 of this current report on form 8-Krelating to the Loan Agreement is incorporated by reference in this Item 2.03.

Unregistered sales of equity securities.

The information provided in point 1.01 of this current report on form 8-Krelating to the Warrant is incorporated by reference in this Section 3.02.

Disclaimer

Phathom Pharmaceutical Inc. published this content on September 20, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 20, 2021 12:11:00 PM UTC.


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Gateway Bank Offers $ 2,000 Cashback on Green Home Loans http://flight93.org/gateway-bank-offers-2000-cashback-on-green-home-loans/ Mon, 20 Sep 2021 00:37:24 +0000 http://flight93.org/gateway-bank-offers-2000-cashback-on-green-home-loans/ On Monday, Gateway Bank launched a $ 2,000 cash back offer for those refinancing a green home, making green upgrades, or building a new, energy-efficient home. The $ 2,000 cash back offer is tied to two home loans: Green Plus: 2.34% pa advertised rate (comparison rate 2.68% pa *) Green: 2.44% pa advertised rate (2.78% […]]]>

On Monday, Gateway Bank launched a $ 2,000 cash back offer for those refinancing a green home, making green upgrades, or building a new, energy-efficient home.

The $ 2,000 cash back offer is tied to two home loans:

  • Green Plus: 2.34% pa advertised rate (comparison rate 2.68% pa *)
  • Green: 2.44% pa advertised rate (2.78% pa comparison rate *)

Both come with a 100% offset account, but the former is for home loans that achieve a 7-star “NatHERS” energy efficiency rating, while the latter is for borrowers who make at least three upgrades. environmental protection in their home, such as solar panels. , water reserve or double glazed windows.

These home loans are for homeowners who pay principal and interest with a loan-to-value ratio of up to 80%.

The cashback offer is available from September 20 to December 31, with funding to be finalized by March 31, 2022.

“There is a rapidly growing market segment that wants to reduce their home’s impact on the environment and is borrowing to add energy efficient features or to buy a new home with those integrated,” said Lexi Airey, CEO of Gateway Bank. .

Gateway Bank also cut rates on a number of its home loans to investors on Thursday, with a few cuts of up to 43 basis points.

Gateway Bank joins a chorus of other lenders offering discounts and special “green” home loans for those who are renovating their home or buying a new, energy-efficient home.

However, in August, the CEO of a non-bank lender warned borrowers against repayment offers, saying the fundamentals remained – always checking advertised and comparison rates.


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The entire market was not taken into account in the selection of the above products. Instead, a smaller part of the market has been envisioned, which includes the retail products of at least the Big Four Banks, the Top 10 Client-Owned Institutions, and Australia’s largest non-banks:

Products from some vendors may not be available in all states. To be taken into account, the product and the price must be clearly published on the website of the supplier of the product.

In the interest of full disclosure, Savings.com.au, Performance Drive, and Loans.com.au are part of the Firstmac group of companies. To learn more about how Savings.com.au handles potential conflicts of interest, as well as how we are paid, please click on the links on the website.

*Comparison rate is based on a loan of $ 150,000 over 25 years. Please note that the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as draw charges and cost savings such as fee waivers are not included in the comparison rate but may inuence the cost of the loan.


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Center seeks Andhra Pradesh government report on foreign loan of Rs 960 crore http://flight93.org/center-seeks-andhra-pradesh-government-report-on-foreign-loan-of-rs-960-crore/ Sun, 19 Sep 2021 12:55:47 +0000 http://flight93.org/center-seeks-andhra-pradesh-government-report-on-foreign-loan-of-rs-960-crore/ Efforts to contact the Principal Secretary of Finance for clarification on the matter have not borne fruit (File) Amaravati: The Center requested a report from the government of Andhra Pradesh on Rs 960 crore received in the form of loans from foreign agencies for various foreign aid projects (EAP) remaining unused. The departments which are […]]]>

Efforts to contact the Principal Secretary of Finance for clarification on the matter have not borne fruit (File)

Amaravati:

The Center requested a report from the government of Andhra Pradesh on Rs 960 crore received in the form of loans from foreign agencies for various foreign aid projects (EAP) remaining unused.

The departments which are supposed to obtain these funds for the execution of the projects have gone blank, while payments amounting to hundreds of crore of rupees are still to be made to the contractors for the work carried out so far.

The EAPs remain today in the impasse because the State is unable to withdraw other amounts of loans from the external agencies due to the poor progress of the works and the non-clearance of payments (contributions).

The Department of Economic Affairs (DEA) under the Union Ministry of Finance took a firm position and wrote a letter last week asking for an explanation from the State Finance Department on the matter.

“The overall situation of the use of advances made by various authorities is not so encouraging, as a very large amount of advances is in the accounts of the government of Andhra Pradesh. As of September 7, the amount released as an advance amounted to $ 124.65 million, or approximately equivalent to Rs 960 crore, ”said the DEA in its letter to the Principal Secretary of Finance.

The DEA also noted that the use of the loan amount “is not that high”, indicating a “situation in which the cost of interest is increasing but the execution of the project is at a slow pace”.

In addition, DEA officials have personally called senior officials from different state departments and “told us about the sad situation,” a senior official said.

“We are bombarded with questions about the state of the work and the use of funds (put forward by foreign agencies), but our bulletin is filled with only blanks. They gave us money but we can’t tell them we don’t. have it, “observed the bureaucrat.

On the one hand, the state government rushed to get loans but, on the other hand, the guaranteed loans were clearly not being spent for their intended purpose, he told PTI.

Efforts to contact the Principal Secretary of Finance for clarification on the matter were unsuccessful.

There are currently 14 EAPs running in AP, with loans from foreign lenders like the World Bank, Asian Infrastructure Investment Bank, International Fund for Agricultural Development, Asian Development Bank, International Bank for Reconstruction and Development, Japan International Cooperation Agency, New Development Bank and KfW of Germany.

The DEA, in particular, mentioned six of these projects for which the ADB, AIIB, IBRD and IFAD have already released an amount of USD 124.65 million in advance.

The AP rural road project is a classic case.

The $ 666 million project was launched in November 2018 with a 70% loan ($ 455 million) from AIIB to provide road connectivity to unconnected homes of over 250 residents and rebuild existing roads in 137 rural constituencies. of the Assembly in 13 districts. .

Of the 6,323 km of roads proposed under the project, only 865 km have been completed to date.

A recent memo presented to the Chief Minister by the Panchayat Raj and the Rural Development Department stated that there were “no bidders” for 169 works although the tender notices were published four times. In some cases, offers were rejected due to proposed excess rates.

The note states that Rs 507 crore has been received from the AIIB so far and that an expenditure of Rs 405 crore has been incurred.

As of September 2020, Rs 341 crore has not been paid to contractors (on completed work) while invoices for another Rs 349 crore (performed) are to be increased.

According to the letter from the DEA, 43.35 million USD (approximately Rs 316 crore) should be available (with the State) as a balance (advance) on the total disbursement of 71.13 million USD.

The worst is the US $ 468.10 million PA Health Systems Strengthening Project, launched in 2019 with 100% World Bank assistance.

The medical and health department as such has obtained “zero” (money) from the project so far, although, for the record, it is still “on track”.

“What we do under the National Health Mission, we show it as under the World Bank project, because most of the work under the two programs is similar,” said a senior official. .

“It is another matter that our department does not even receive the funds from the NHM,” he lamented.

The DEA has warned the state to ensure that EAPs are “completed at a faster rate” by liquidating advances as the closing date in the case of four projects is very close.


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Apple Valley City Council Approves $ 10 Million Bond to Cover Legal Costs in Attempt to Acquire Water Supply System http://flight93.org/apple-valley-city-council-approves-10-million-bond-to-cover-legal-costs-in-attempt-to-acquire-water-supply-system/ Sat, 18 Sep 2021 23:19:59 +0000 http://flight93.org/apple-valley-city-council-approves-10-million-bond-to-cover-legal-costs-in-attempt-to-acquire-water-supply-system/ City council approved a $ 10 million bond earlier this week that Apple Valley officials say will help refinance a loan and fund costs associated with the attempted acquisition of the water supply system. by Liberty Utilities. City council voted 5-0 on Tuesday to initiate the bond which will also pay for additional capital improvements […]]]>

City council approved a $ 10 million bond earlier this week that Apple Valley officials say will help refinance a loan and fund costs associated with the attempted acquisition of the water supply system. by Liberty Utilities.

City council voted 5-0 on Tuesday to initiate the bond which will also pay for additional capital improvements and potential costs if Apple Valley continues to fight to acquire the water system, according to the city.

Apple Valley’s initial $ 10 million loan, or line of credit, had a three-year term, starting in October 2018, and a variable interest rate of 0.075 to 2.52 percent, the door said on Friday. – city talk, Orlando Acevedo, to the Daily Press.

“The city only paid interest for the term with a spent portion of $ 6 million due in October 2021,” according to Acevedo, who said the new bond is a fixed rate of 2.52% over 20 years. with a payment of $ 322,000 due every six months.


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