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Fitch Affirms Senior Notes of New Hampshire Higher Ed Loan Corporation, Series 2011-1

NEW YORK–(BUSINESS WIRE)–

Fitch Ratings affirms the ‘AAAsf’ rating and maintains the Outlook Stable on the senior student loan notes issued by New Hampshire Higher Education Loan Corporation, Series 2011-1 (NHHELC 2011-1).

KEY RATING DRIVERS

High Collateral Quality: NHHELC 2011-1 collateral consists of 100% Federal Family Education Loan Program (FFELP) loans. The credit quality of the trust collateral is high, in Fitch’s opinion, based on the guarantees provided by the transaction’s eligible guarantors and reinsurance provided by the U.S. Department of Education (ED) for at least 97% of principal and accrued interest. Fitch currently rates the U.S. ‘AAA’ with a Stable Outlook.

Sufficient Credit Enhancement (CE): The NHHELC 2011-1 senior notes benefit from overcollateralization (the excess of trust’s asset balance over bond balance) and excess spread. As of March 2014, reported senior parity is 109.49%. The bonds are currently in turbo, and no cash is being released from the trust.

Adequate Liquidity Support: Liquidity support is provided by a Reserve Fund sized at the greater of 0.25% of the pool balance and $500,000.

Acceptable Servicing Capabilities: Granite State Management Resources Inc. (GSMR) is responsible for the day-to-day servicing of the student loans and Nelnet Servicing LLC (Nelnet) is the backup servicer. Fitch believes GSMR and Nelnet to be acceptable servicers of FFELP student loans.

RATING SENSITIVITIES

Since the FFELP student loan ABS relies on the U.S. government to reimburse defaults, ‘AAAsf’ FFELP ABS ratings will likely move in tandem with the ‘AAA’ U.S. sovereign rating. Aside from the U.S. sovereign rating, defaults and basis risk account for the majority of the risk embedded in FFELP student loan transactions. Additional defaults and basis shock beyond Fitch’s published stresses could result in future downgrades. Likewise, a buildup of credit enhancement driven by positive excess spread given favorable basis factor conditions could lead to future upgrades.

Fitch has affirmed the following ratings:

New Hampshire Higher Education Loan Corporation, Series 2011-1:

–Class A-1 at ‘AAAsf’; Outlook Stable;

–Class A-2 at ‘AAAsf’; Outlook Stable;

–Class A-3 at ‘AAAsf’; Outlook Stable.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–‘Global Structured Finance Rating Criteria’ dated May 20, 2014;

–‘Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria’ dated June 23, 2014.

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=748821

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=750530

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=837156

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Security Upgrades & DowngradesFinanceFitch Ratingsstudent loanFFELP Contact:

Fitch Ratings, Inc.

Primary Analyst

Jeffrey Prackup, +1-212-908-0839

Director

Fitch Ratings, Inc.

33 Whitehall Street

New York, NY 10004

or

Secondary Analyst

Victoria Ohorodnyk, +1-212-908-0866

Analyst

or

Committee Chairperson

Tracy Wan, +1-212-908-9171

Senior Director

or

Media Relations

Sandro Scenga, +1-212-908-0278

sandro.scenga@fitchratings.com […]

CASMED Secures $10 Million Loan Agreement with GE Capital Healthcare Financial Services

BRANFORD, Conn., June 30, 2014 (GLOBE NEWSWIRE) — CAS Medical Systems, Inc. (CASM) (CASMED), a leader in medical devices for non-invasive patient monitoring, announced that on Friday, June 27, 2014, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with General Electric Capital Corporation (“GECC”).

Pursuant to the Loan Agreement, GECC is providing the Company with a secured term loan of $7.5 million and a revolving line of credit up to $2.5 million. The term loan and the revolver each mature on June 27, 2018.

“Obtaining this new credit facility is a key milestone in our initiative to bring CASMED to cash-flow breakeven from operations with largely non-dilutive sources of capital,” said Tom Patton, CASMED’s President and CEO. “We are pleased to have a high-caliber partner like GE Capital as our lender and look forward to working with them over the longer term as our Company expands and our credit needs evolve.”

The term loan requires monthly principal repayments over 36 months commencing July 1, 2015, or over 30 months commencing January 1, 2016, if the Company reaches certain financial targets.

The Company’s secured term loan of $5 million with East West Bank was repaid in full at the closing of the Loan Agreement, and the revolving line-of-credit with East West Bank, which had no outstanding balance, was terminated.

The Company was advised in the transaction by Armentum Partners.

The foregoing description of the Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Loan Agreement, which is included as Exhibit 10.1 to the Form 8-K to be filed by the Company today.

About CASMED(R) — Monitoring What’s Vital

CASMED is a leading developer and manufacturer of medical devices for non-invasive patient monitoring that are vital to patient care. The Company’s FORE-SIGHT Absolute Cerebral Oximetry technology provides highly accurate, non-invasive, continuous measurement of absolute cerebral tissue oxygen saturation. Direct monitoring of tissue oxygenation provides a superior and powerful tool to alert clinicians to otherwise unrecognized and dangerously low levels of oxygenation of the brain and other tissues, thereby allowing them to intervene appropriately in the care of their patients. In addition to FORE-SIGHT Oximeters and accessories, the Company provides a line of bedside patient vital signs monitoring products, proprietary non-invasive blood pressure monitoring solutions for OEM use, neonatal intensive care supplies, and service.
For further information regarding CASMED, visit the Company’s website at www.casmed.com.

Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks detailed in the Company’s Form 10-K for the year ended December 31, 2013, and other subsequent Securities and Exchange Commission filings.

Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms “anticipate”, “believe”, “estimate”, “expect”, “may”, “objective”, “plan”, “possible”, “potential”, “project”, “will”, and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.

Company Contact CAS Medical Systems, Inc. Jeffery A. Baird Chief Financial Officer (203) 315-6303 ir@casmed.com
Investor Contact LHA Bruce Voss (310) 691-7100 (bvoss@lhai.com) @LHA_IR_PR FinanceInvestment & Company InformationLoan Agreement Contact:


[…]

China loosens requirements for loan-to-deposit ratio

BEIJING – China’s banking regulator is relaxing the rules for the calculation of banks’ loan-to-deposit ratio in a bid to release more cash into the system to support the real economy.

As of July 1, selected loans to small firms and the farm sector will be excluded in the computation of banks’ loan-to-deposit ratio, the China Banking Regulatory Commission said in a statement on its website.

The definition of deposits will also be broadened to include items such as large negotiable certificates of deposit, the regulator said.

The amendments will allow banks to re-lend more of their deposits, which could help shore up activity in China’s cooling economy.

Chinese laws cap banks’ loan-to-deposit ratios at 75 percent, which means banks can lend no more than three quarters of their deposits.

To meet the loan-to-deposit requirement, banks often demand more cash at the end of each quarter and year so that they can attract more deposits and dress up their quarterly financial statements.

Despite the changes, the regulator did not go as far as some had hoped in revising the rules.

Some investors had speculated that China would broaden its definition of deposits to include interbank loans when calculating the ratio.

But that change was rejected by the regulator as it felt interbank loans are not a steady form of income and should not be included in the computation of the loan-to-deposit ratio, said a source with knowledge of the matter.

The source declined to be named as she is not authorised to speak to the media.

[…]

Courts ‘fair’

Courts is hitting back against a claim that its “instant cash” loan offer is less attractive than it seems.

Trisha Tannis, managing director of Unicomer (Barbados) Ltd, which trades as Courts Barbados Ltd, insisted that the “Courts Ready Cash” offer rate is the lowest on the market, in response to an accusation that the company was charging customers too high an interest rate.

Through the programme, Courts’ “loyal” customers were sent cheques valued at between $500 to $1 000 redeemable in cash. The interest rate is 2.4 per cent with equal monthly payments of $191 for six months.

However, Grady Clarke, chief executive officer of Caribbean Credit Bureau Ltd, better known as Credi-Check, said the effective interest rate of the Courts loan worked out at close to 50 per cent.

“Based on my calculations,” said Clarke of the $191 for six months, “this amounts to a total of $1 146 being paid, and when you subtract the $1 000 principle, you are left with $146. If this represents the interest income that is charged on the loan over a six-month period, and the fact that the average balance of the $1 000 loan repaid in equal instalments over six months is $500, the effective interest rate works out to be close to 50 per cent.

“How many customers would actually know the true cost of borrowing?” Clarke said. He added that “customers have a right to repay the funds and have the loan cancelled if they were not aware of the cost”.

Please read the full story in today’s SUNDAY SUN, or in the eNATION edition. […]

Find A Solid Payday Loan Today | Money Insight

Most families will need a Nevada payday loan at least once just to make sure that they can make it through some hard times. When the family is looking for a way to get through these hard times, they must make sure that they working with a company that can provide them with loans that are easy to apply for and pay off. The best payday loans help the family while providing them options for the future.

The Application

The application process for a payday loan must be done by the family online or in person to make sure they can get approved as fast as possible. When the family fills out their information online, the approval team can go over the application quickly. When the family fills out a paper form, they will hand it off to a worker who can go over the application with an underwriter. The goal is to approve these loans as fast as possible, and the only way to make sure that the family gets a quick answer is to work with companies who provide these fast services.

The Payment

The payment that the family receives from the loan can come in the form of a check or direct deposit. This means that the family can get their cash in a form that works best for them. The family does not have to accept payments forms they cannot use, and the family is free to cash their check or use any bank account for a direct deposit.

The Payoff

When families are looking paying off their payday loans, they must make sure they understand the terms of their loan. Some families will need a little bit of extra time to pay off the loan, and other families will make the small monthly payments until the loan is completed. The interest rates and terms on the loan application will show the family how much to pay.

The best way for a family to get through tough financial times is to use a payday loan to fill their coffers. They can get a quick approval, easy payment and pay off the loan as fast as they like.

[…]

AG: Thousands of borrowers could see refunds

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Attorney General Gary King says “thousands” of borrowers are in line for refunds of exorbitant interest charges by two signature-loan companies on the heels of a state Supreme Court opinion this week that called their interest rates exceeding 1,000 percent “unconscionable.”

The controversial signature loans were issued by high-interest lenders Cash Loans Now and American Cash Loans since 2006. The Illinois-based companies had retail storefronts in Albuquerque, Farmington and Hobbs.

The companies lent borrowers between $50 and $300 with nothing but a signature, but charged interest rates between 1,147 percent and 1,500 percent.

KING: AG’s lawsuit was initially filed in 2009 (Eddie Moore/Albuquerque Journal)

The loans called for 26 biweekly payments of about $40 for every $100 borrowed paid over a year.

A borrower given a $100 signature loan at the lowest available interest rate was on the hook to pay an additional $999.71 in interest over the year of repayment, according to the court. That amounts to a total obligation of $1,099.71.

King on Friday said loans continued to be issued by the companies through Thursday, when the court opinion was published ordering a halt to the practice and a partial refund to customers.

“In just this case, there are probably several thousand borrowers,” King said at a news conference Friday. “I’m going to say there are thousands of New Mexicans that might be impacted by this decision.”

The lawsuit was initially filed by the Attorney General’s Office in 2009.

The New Mexico Supreme Court on Thursday held that the company’s signature loans violated the state’s Unfair Practices Act and “took advantage of borrowers to a grossly unfair degree.”

The attorney representing the loan companies, Alex Walker, was out of the office Friday. He did not respond to an email request for comment.

The high court opinion ordered all the company’s signature loan contracts changed to replace all the “unconscionable” interest rates with a 15 percent interest rate, the rate state law sets as the “default” in lending contracts that don’t specify a different rate.

The court said Cash Loans Now and American Cash Loans will be required to return any money they were paid by borrowers in excess of the loan principal plus 15 percent interest.

That means a $100 borrower could be charged no more than $115 for the loan.

If that borrower paid the full $1,099.71 to the companies charged on a $100 loan, the borrower would be entitled to receive a $984.71 refund under the Supreme Court ruling. The court also ordered any late fees charged by the companies to be returned.

The Supreme Court sent the case back to a state District Court to determine how the refunds would be issued and who would receive them.

“We can’t say today exactly whose entitled to restitution, other than we know that the companies through the course of this litigation continued to offer these loan products, and so we’re going to want to see information on everybody who got these loan products,” King said Friday.

Cash Loans Now and American Cash Loans defended the practice, saying the New Mexico Legislature intended to have unrestricted interest rates for lenders after voting in 1981 to delete the cap on loans. The court rejected that claim, highlighting several other state laws that regulate other small installment loans with caps.

King said the court ruling puts other predatory lenders on notice that exorbitant interest rates for short-term loans will be challenged.

“There are a number of companies in New Mexico that are making similar loans, and for years those companies have claimed that those loans are legal,” King said. “… This case makes it very clear that that is not true.”

King said his office will “look at other cases” of predatory lenders after the ruling against Cash Loans Now and American Cash Loans.

[…]

Man's ID is used to obtain $750 from a fast cash loan facility: Bainbridge Blotter

BAINBRIDGE TOWNSHIP, Ohio – Fraud, Abbey Road – Someone used a Bainbridge man’s information to obtain $750 from a fast cash loan facility. A second attempt was made at another facility, but was stopped.

JOAN RUSEK/SPECIAL TO SUN NEWS

The victim filed a report June 23. He believes this is related to an incident earlier this year when someone used his credit card numbers for fraudulent purposes.

Assist Fire Department, Geauga Lake Road – A shed caught on fire causing a tractor inside it to explode and set fire to stored fuel 1:43 p.m. June 23.
The shed was located next to a garage and pole barn, with the home 15-20 feet away. The garage siding was melting when officers arrived.

Traffic was halted at Pettibone Road and tanker trucks arrived from Auburn and Russell to assist Bainbridge firefighters. The fire was brought under control 20 minutes after the call was initiated, and the road was reopened at 2:55 p.m. No injuries were noted.

Information, Stafford Road – After purchasing $269 in steak and chicken from a door-to-door salesman, June 23, a woman saw that the meat was of poor quality. She stopped payment on the check she wrote and contacted police.

Theft, Elizabeth Lane – A South Riverside Drive male faces charges for stealing a man’s ATV from his shed sometime between June 17 and 19.

The ATV owner reported on June 19 that his $7,000 Honda ATV was taken from an unlocked shed. He said the keys were in the vehicle. He last saw the vehicle on June 17.

Officers traced the vehicle to the back of the South Riverside Drive property and obtained permission from the subject’s grandmother to search the premises. The ATV was found, identified and returned to the owner.

Information, Squires Road – After cell phones were stolen from her son and his friend 8:47 p.m. June 24 at Wildwater Kingdom, a woman contacted police and met officers at the gate. She told them she believed the phones and the culprit were still in the park.

Park security found the phones in a trash can.

Animal Complaint, Depot Street – A turtle in the road 4:41 p.m. June 22 stopped traffic until an officer arrived to remove it and guide it into a wooded area.

[…]

Manage your cash flow


Manage your cash flow

ResourcesDate (1) Read later

Keeping a record of the money flowing in and out of your business is crucial for managing your business finances.

It’s also a good idea to think about what you can do to improve or maintain your cash flow.

Keep track of your cash flow

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[…]

How to compete for a home without cash

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Real estate

How to compete for a home without cash

Emily Heffter Zillow

2 hours ago

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As cash buyers continue to inundate recovering markets, it’s easy to feel like the underdog if your offer includes a pre-approval letter for a mortgage.

In some places — especially in the Midwest and Florida — more than half of sales in the first quarter of 2014 were closed with cash, according to a recent Zillow analysis.

Lynne Sladky / AP

In cash-rich markets such as Miami, would-be home buyers without a lot of money should consider these tips to seal a deal.

“Cash is always the deal-sealer and the best way to get deals,” said Joe Spake, a longtime real estate agent in Memphis, Tennessee, where nearly half of first-quarter sales were all-cash. “Just, not a whole lot of people have it, especially in the regular-people realm. The average working person is going to have to get a mortgage.”

Across the country, cash buyers are on the decline, but in some markets you’re still very likely to be pitted against one. We asked agents in the country’s most cash-rich markets for advice for buyers who want to stay competitive without cash.

The bottom line is the bottom line

Cash buyers come in looking for a deep discount, said Tony Baroni, an agent in Tampa, Florida, which trails only Miami in the percentage of homes purchased with cash.

“At the end of the day, all the seller cares about is how much money they’ll get,” Baroni said. “Some sellers don’t care if it’s cash or financed.”

Tucson, Arizona, agent Spirit Messingham has seen buyers get intimidated when they go up against all-cash offers.

“What I tell people … is that most sellers don’t care if I give them a bag of dirty old cash or if I give them a loan from a local lender,” he said.

Get a solid loan

If you can’t write a fat check, get pre-approved and know how much you can put down on a home before you start shopping, agents said. Spake believes it’s worth seeking out a local lender. The seller or listing agent might even recognize the lender’s name — or at least the bank’s name — and that could give you an edge.

Plus, Spake said: “I can go to that person’s office and stand on his desk if I have to.”

How much do you want it?

Cash buyers are often investors, so they’re looking for a great deal. If a competing buyer is shopping for a home, it’s sentimental. The home might be worth more to them than the asking price.

“When we go up against a cash buyer, you need to act decisively,” Messingham said. “How badly do you want it? Because it’s not just an investment. It’s not like we’re trying to buy Apple [stock] at a 52-week low. This is going to be your home.”

Lyn Miller, an agent in Miami, agreed: “Sometimes you’ve got to offer over the asking price to get them.”

Keep it simple

One major advantage of cash is simplicity. Relying on the loan process adds a level of complexity to the deal. To compensate for that, agents said it’s important to make your offer straightforward and simple.

Baroni recommends short inspection periods and lots of earnest money.

In Memphis, a popular market for investors, Spake tells his buyers not to ask for anything they don’t really need.

“The bottom line for me is to make the cleanest deal for the seller possible,” he said. “I want them to pick me, and I don’t want them to have a lot of hidden paragraphs” in the offer.

Personalize it

Baroni took a chance recently and delivered an offer with a photo of his buyer and a letter explaining the buyer’s story. The offer came in $5,000 lower than the highest offer on the table, but the seller picked his client anyway.

A human angle is something investors often can’t bring to the table, and it can sometimes seal the deal just as well as a briefcase full of George Washingtons.

More from Zillow:

Metros Where Cash Buyers Dominate the Market

10 Markets Where Borrowers Have the Edge

15 Cities Where Renting Rules

Emily Heffter, a reporter and writer for Zillow Blog, covers celebrity real estate, unusual properties and other real estate topics. Read more of her work here.

© 2006-2014 Zillow Inc., All Rights Reserved

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Forgotston.com » State needs Payday Loan


Be happy; don’t worry

It’s a good thing that the leges didn’t pass the legislation to tighten the restrictions on Payday Loans during the 2014 Regular Session. It appears the state will need one.

Thanks to the leges ignoring the problem (Kicked can down road.) during the session, according to State Treasury John Kennedy, the current fiscal year that ends at Midnight on Monday is short by $134 Million to fully fund the budget. ( Story here.)

Bobby Jindal’s Liar-in-Chief, Kristy Nichols a.k.a. Commish of Administration says not to worry. Even though the fiscal year ends Monday, she won’t close the books until August 15. That’s plenty of time for the imaginary money to materialize.

Of course, if the Tooth Fairy doesn’t bring the money before August 15, Nichols can just delay closing the books further or borrow money from the fiscal year that begins on Tuesday. Ceveat: Don’t try this with paying your taxes due the state of Louisiana; you’ll probably be committing a felony.

There is still a chance that the state can take out a Payday Loan to fully fund the current year budget until the treasury is flush again. That’s what such loans are for, aren’t they?

C.B.

“King of Subversive Bloggers” – James Gill

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