With a potential recession on the horizon, it’s worth asking whether a personal loan is your best option during an economic downturn. At first glance, this type of loan may seem like a particularly smart choice if the Fed decides to cut interest rates. However, taking on any debt comes with risk, and your decision
Personal Loans During a Recession: Pros, Cons, and Alternatives Read More »
The LGBTQ+ community has fought long and hard to gain the same marriage rights as heterosexual men and women. It took decades before marriage equality was widely accepted when the U.S. Supreme Court ruled in 2015 in Obergefell v. Hodges that all 50 states must recognize same-sex marriage.1 More than a dozen states still have
LGBTQ+ Marriage Rights and Financial Benefits Read More »
Definition A personal identification number (PIN) is a numerical code used to authenticate a user’s identity during electronic financial transactions, primarily associated with payment cards.
What Is a Personal Identification Number PIN Read More »
A personal service corporation (PSC) is a type of business entity recognized by the Internal Revenue Service (IRS) that’s created to provide personal services directly to clients. These services typically include fields like accounting, health, law, consulting, engineering, and other specialized professions. Under IRS rules, PSCs are taxed at a flat 21% corporate rate, and
What Is a Personal Service Corporation? Read More »
Key Takeaways Experts warn that AI tools can sound convincing but often rely on outdated info and lack personal context. Specialized platforms like Quest IndexGPT and AIEQ ETF offer institutional, data-driven alternatives to all-purpose generative AI. Experts recommend using AI for education and exploration, but not decision-making; human financial advisors remain essential for reliable planning
AI Financial Advice: Risks, Tools, and Why Human Advisors Still Matter Read More »
Toorak Capital LLC is selling its operating platform to Velocity Financial Inc. and a $3 billion business-purpose loan (BPL) portfolio to a third-party investment firm, the companies announced Thursday. The transactions have a total value of about $3.2 billion. California-based Velocity will purchase Toorak’s business-purpose lending and asset management platform in an all-cash deal. Meanwhile,
Toorak Capital Sells BPL Platform to Velocity Financial in $3.2B Deal Read More »
Article Summary The Senior Citizens League projects a 3.6% Social Security COLA for 2027 as CPI-W trends run higher, with the official update due Oct. 14. For reverse mortgage borrowers, higher future Social Security income and HECM line-of-credit growth dynamics can influence when to claim benefits and when to draw loan proceeds. Recent estimates show
Social Security COLA 2027 Projection at 3.6% and Reverse Mortgage Strategy Read More »
Article Summary Ginnie Mae President Joe Gormley said the agency is prioritizing standardized loan-level data and automation to reduce bad data cleanups. The push supports more transferable MSRs and earlier risk detection across the issuer ecosystem. Ginnie Mae President Joe Gormley’s message to executives at this week’s Mortgage Industry Standards Maintenance Organization (MISMO) Fall Summit
Ginnie Mae Prioritizes Standardized Loan-Level Data and Automation Read More »
Article Summary Mike Kortas and Anthony Casa have moved past their long-running feud as NEXA Lending recently announced its acquisition of UMortgage. The reconciliation has also brought Kortas, Casa and the Association of Independent Mortgage Experts back into closer alignment. Mike Kortas and Anthony Casa, two of the most prominent personalities in the mortgage brokerage
NEXA Lending Acquires UMortgage as Kortas and Casa Mend Feud and Reengage with AIME Read More »
AARP outlines six numbers for assessing financial health: monthly cash flow, Social Security estimates, retirement savings (using the 4% rule), credit scores, high-interest debt and debt-to-income ratios. With two in five workers worried about retirement, these measures can reveal problems early, when course corrections are easier. A handful of numbers — from the money left
AARP’s Six Numbers to Assess Your Financial Health Read More »
