It will be difficult for the U.S. Government to allow another day of market turmoil for this financial behemoth. Paulson and Bernanke are, no doubt, trying to broker a private deal for them, but it wouldn't surprise me to see some sort of bridge loan or backstop similar to AIG or Fannie/Freddie. Look for this to occur before the Russian/Asian market open tonight, EST.
This will be another interesting week...
It will be difficult for the U.S. Government to allow another day of market turmoil for this financial behemoth. Paulson and Bernanke are, no doubt, trying to broker a private deal for them, but it wouldn't surprise me to see some sort of bridge loan or backstop similar to AIG or Fannie/Freddie. Look for this to occur before the Russian/Asian market open tonight, EST.
This will be another interesting week...
It will be difficult for the U.S. Government to allow another day of market turmoil for this financial behemoth. Paulson and Bernanke are, no doubt, trying to broker a private deal for them, but it wouldn't surprise me to see some sort of bridge loan or backstop similar to AIG or Fannie/Freddie. Look for this to occur before the Russian/Asian market open tonight, EST.
This will be another interesting week...
What's a credit score and why should I care about it?
Your credit score is the result of a mathematical formula that's applied to all the information in your credit report (both positive and negative) and then compared to millions of other credit reports. The most common credit score is a FICO score, developed by the Fair Isaac Corporation. A variation of the basic FICO model is used by each of the three major credit reporting agencies: Equifax, Experian, and TransUnion.
Your FICO score is based on five categories, each of which accounts for a percentage of your total score:
The result is a three-digit number between 300 and 850 that estimates your level of credit risk. The higher the number, the lower the risk.
This number significantly affects your ability to get credit and the terms you're offered. Generally, lenders consider people with scores above 700 to be in good financial health, and worthy of the best interest rates and credit terms. Those with scores below 600 are considered to be financially risky, and may be turned down for credit or offered stricter terms (higher interest rates, lower credit limits, and/or requirements for collateral or a cosigner or both).
To keep your score high:
It had been a few days without a day new Fed funding facility ... From the Fed: Federal Reserve announces the creation of the Money Market Investor Funding Facility (MMIFF) The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a private-sector initiative designed to provide liquidity to U.S. money market investors.
From the Fed...
Press Release
Release Date: October 21, 2008
For release at 9:00 a.m. EDT
The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a private-sector initiative designed to provide liquidity to U.S. money market investors.
Under the MMIFF, authorized by the Board under Section 13(3) of the Federal Reserve Act, the Federal Reserve Bank of New York (FRBNY) will provide senior secured funding to a series of special purpose vehicles to facilitate an industry-supported private-sector initiative to finance the purchase of eligible assets from eligible investors. Eligible assets will include U.S. dollar-denominated certificates of deposit and commercial paper issued by highly rated financial institutions and having remaining maturities of 90 days or less. Eligible investors will include U.S. money market mutual funds and over time may include other U.S. money market investors.
The short-term debt markets have been under considerable strain in recent weeks as money market mutual funds and other investors have had difficulty selling assets to satisfy redemption requests and meet portfolio rebalancing needs. By facilitating the sales of money market instruments in the secondary market, the MMIFF should improve the liquidity position of money market investors, thus increasing their ability to meet any further redemption requests and their willingness to invest in money market instruments. Improved money market conditions will enhance the ability of banks and other financial intermediaries to accommodate the credit needs of businesses and households.
The attached term sheet describes the basic terms and operational details of the facility.
The MMIFF complements the previously announced Commercial Paper Funding Facility (CPFF), which on October 27, 2008 will begin funding purchases of highly rated, U.S.-dollar denominated, three-month, unsecured and asset-backed commercial paper issued by U.S. issuers, as well as the Asset Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF), announced on September 19, 2008, which extends loans to banking organizations to purchase asset backed commercial paper from money market mutual funds. The AMLF, CPFF, and MMIFF are all intended to improve liquidity in short-term debt markets and thereby increase the availability of credit.
I am very involved in my community. I have many passions besides marketing, but I love helping clients reach their full potential. Wife-Susy Son-Percy Dog-Traveler
After several years in the financial services industry with MetLife and his own company, Pilot Financial Services, Mr. Manders had an opportunity to learn the mortgage business and made the most of the opportunity. He recently earned the designation of Certified Liability Advisor (CLA). The program, Manage Liabilities Into Assets, provided an intense two day education that involved various liability management concepts, strategies, and case studies. The program is offered to mortgage professionals to assist them with the integration of their client's borrowing and related liabilities as a core step toward financial independence. Completion of the training allows Billy to provide consumer advice on how to best build wealth through the effective management of liabilities. Mr. Manders also has his Certified Mortgage Planning Specialist (CMPS) certification and was the first Mortgage Banker in the State of Alabama to achieve this designation. Billy is certified as an instructor for Realtors, Financial Planners and CPAs needing state required continuing education credits.
Mr. Manders was recently chosen as one of 40 mortgage advisors from around the country to participate in the inaugural ground-breaking liability management Mentor Program by Kendall Todd, the leading provider of strategy, content, tools and training for mortgage and Financial Advisors seeking to maximize their clients wealth creation through management of their liabilities. As a Series 6 and 63 licensed professional, Mr. Manders has a unique ability to understand the power of incorporating the mortgage you choose with your overall long and short-term financial strategy.
He is the founder of The Manders Group, The Institute of Wealth Strategies, and The National Institute of Financial Education(along with several financial professionals from around the country) where he spends much of his time educating clients, financial and real estate professionals on how to effectively use a mortgage as a tool to build financial stability and create wealth.
Billy is very active in his community. A member of the Board of Director's for several organizations in the Mobile area:
The Mercy Medical Foundation--Co-Chair
Goodwill/Easter Seals of the Gulf Coast
The Drug Education Council of South Alabama
The Mulherin Custodial HomeMr. Manders is a 2008 graduate of Leadership Mobile, a year-long program that targets emerging leaders in the community.
--First-time Homebuyer Specialist
--Foreclosures(both FHA and Conventional loans available)
--FHA/VA
--In-house underwriting
--USDA
--Financial Education
--Credit Seminar
--Credit optimization
--Wealth Seminars
--CE courses for Realtors, CPA's and Financial Planners
"The Manders Group provided me with exceptional service in obtaining a new mortgage. Billy and Connie were very responsive to my needs and were diligent in their efforts to ensure that I locked into the very best deal the market had to offer. I would highly recommend The Manders Group to anyone looking for a new mortgage, refinance of an existing mortgage, or their consulting arm to explore strategies on restructuring your financial portfolio to minimize risks and plan for your future financial well-being."
Stephen Hand - U.S. Army Corps of Engineers--Mobile, Alabama
"I know that we are not your only deal, but you made us feel that way. I know that you guys make all your clients feel that way. Thank you for getting all this together for us..."
Jason Schmitt, CPA - McKean & Associates, P.A.
"Billy is a very diligent and hard working individual. Despite not doing any business with Billy to date, I discussed my financial situation, and specifically my debt structure with Billy. He gave me excellent advice, and he recommended that I should not change a thing. I think Billy holds his clients and their best interest in the highest regard, even if this results in no economic benefit to Billy. When you are a commission only provider, and you approach your business in the manner Billy does, word gets out, and it pays off in the long-run. I completely trust Billy, and would strongly recommend Billy to anyone that is exploring replacing or entering into debt."
John Hensley - Senior Vice President, Regions Bank
"I have worked with Billy on more than one occasion and highly recommend him to anyone needing financial assistance - be it a mortgage, refinance or just financial advice. He is ALWAYS available to help and answer any questions. He is truly a Top-Notch advisor and goes that extra mile EVERY time."
Sara Cummings--Real Estate Agent--Dauphin Realty--Mobile, AL
"Billy is a thoughtful and smart leader in the financial education community. He has a passion to help others grow financially and truly enjoys his role of educator. I highly recommend working with Billy if you have the opportunity and you might learn and grow from him as I have by working side by side with him. Billy is a man of high integrity and superior knowledge."
Mike Young, - Faculty, National Institute of Financial Education
"One of the most enthusiastic individuals I have had the pleasure of working with. Really works hard and is always determined to do the best job that he can for his clients. I give Billy 5 Stars - someone who truly has other people's best interests in mind."
Timothy Dozier - Owner, Hummingbird Ideas. Inc
"Bill is a very hard worker and he is determined to succeed. His organization skills allow him to make sure that not only is everything in order, but that it is followed up on. In addition Bill has a true desire to help others, something very refreshing in today's world."
Matt Carr, Chief Sales Officer, Fox Filtration
"I strongly encourage, at a minimum, speaking with The Manders Group if you are considering a new mortgage, a refinance, or financial advice in real estate transactions. I have used the Manders Group on two occasions, once for a refinance, and more recently for a new mortgage. On both occasions, I have been nothing but pleased with the active participation of The Manders Group, including their providing of sound financial advice, ease of process, and their ability to "close the deal." They have gone above and beyond my expectations in order to ensure that the product they provided was exactly what I needed, nothing more, nothing less. They are responsive, well informed, knowledgeable, professional, courteous, and diligent. My experiences with The Manders Group have been absolutely positive, and I encourage anyone making or considering to make any financial moves in this market to give Billy a call."
Jeremy P. Taylor, Attorney at Law, Carr Allison, P.C. - Daphne, Alabama
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