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Kroll Bond Rating Agency Assigns Preliminary Ratings to MSCI 2015-XLF1


Kroll Bond Rating Agency, Inc. (KBRA) is pleased to announce the assignment of preliminary ratings to two classes of the MSCI 2015-XLF1 securitization, a $545.1 million large loan floating-rate CMBS transaction (see ratings listed below).

MSCI 2015-XLF1 is a CMBS large loan floating-rate transaction collateralized by five, non-recourse, first lien mortgage loans with an aggregate in-trust principal balance of $545.1 million. The senior pooled notes, together with 680 Madison Avenue, total $348.4 million and include Ashford Full Service Portfolio ($103.8 million), Ashford Select Service Portfolio ($31.4 million), and SOMA Towers ($28.2 million). Both the senior pooled and the subordinate non-pooled notes, which total $85.6 million, will be contributed to the trust. There is one non-pooled loan, Elad Portfolio, which is the sole source of cash flow for the “ELD” certificates, which are not rated by KBRA. As a result, the trust loan counts, balances, and percentages herein exclude the non-pooled Elad Portfolio loan.

The majority of the pool consists of lodging properties (50.0%) which serve as collateral for two loans, Ashford Full Service Portfolio ($103.8 million, 5 assets) and Ashford Select Service Portfolio ($31.4 million, 5 assets). Retail exposure (42.6%) is represented by 680 Madison Avenue ($185.0 million, 1 asset). The remaining property type exposure, multifamily (7.4%), consists of the SOMA Towers loan. The properties are located in ten states with three individual state exposures that represent more than 10.0% of the pool balance: New York (42.6%), California (12.7%), and Minnesota (10.2%).

KBRA’s analysis of the transaction involved a detailed evaluation of the underlying cash flows using our CMBS Property Evaluation Guidelines and the application of our CMBS Single-Borrower & Large Loan Rating Methodology. The results of the analysis yielded a KNCF for the underlying collateral properties that was, on average, 4.9% less than the issuer cash flow for the pooled loan components. KBRA applied our stressed capitalization rates to the KNCF to arrive at valuations of the underlying properties. The KBRA values were, on average, 29.7% less than the appraiser’s valuation for the pooled loan components. The resulting KBRA in-trust loan to value (KLTV) was 66.5% for the pooled loan components and the KLTV was 88.8% for the total in-trust balance, inclusive of the subordinate loan components. All of the loans have additional financing in place in the form of mezzanine debt. Inclusive of this additional debt, the weighted average all-in KLTV for the trust assets was 118.4%. As part of our analysis of the transaction, we also reviewed and considered third party engineering and environmental reports, our analysts’ site visits to the collateral properties, and the transaction structure.

Preliminary Ratings Assigned: MSCI 2015-XLF1

Class Balance Rating A $213,400,000 AAA(sf) X-CP(1) $348,400,000 NR X-EXT(1) $348,400,000 NR B $60,500,000 AA-(sf) C $45,100,000 NR D $29,400,000 NR AFS1(2) $37,100,000 NR AFS2(2) $27,600,000 NR ASL1(2) $9,100,000 NR ASL2(2) $8,000,000 NR SOMA(2) $3,800,000 NR ELD1(3) $55,100,000 NR ELD2(3) $14,100,000 NR ELD3(3) $10,300,000 NR ELD4(3) $8,200,000 NR ELD5(3) $15,900,000 NR ELD6(3) $7,500,000 NR ELDX(3) $87,700,000 NR

1 Notional amount
2 Represents a loan-specific class of certificates and is only entitled to distributions from the corresponding subordinate non-pooled component of the related mortgage loan.
3 Represents a loan-specific class that is only entitled to proceeds received with respect to the Elad Portfolio loan.

Related publications: (available at

CMBS: MSCI 2015–XLF1 Presale Report

CMBS: Single Borrower & Large Loan Rating Methodology, published August 8, 2011

CMBS Property Evaluation Guidelines, published June 10, 2011

About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

FinanceLoansCMBS Contact: Kroll Bond Rating Agency, Inc.
Analytical Contacts:

Michael McGorty, (646) 731-2393


Michael Brown, (646) 731-2307


Ken Kor, (646) 731-2339


Robin Regan, (646) 731-2358


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@KrollBondRating […]

Kroll Bond Rating Agency Assigns Preliminary Ratings to BAMLL 2014-FL1


Kroll Bond Rating Agency, Inc. (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of the BAMLL 2014-FL1 securitization, a $432.6 million large loan floating rate CMBS transaction (see ratings listed below).

Two of the loans have been participated into senior pooled and subordinate non-pooled participations, both of which will be contributed to the trust. Proceeds received in connection with the senior participations and the non-participated loans will be used to make distributions on the pooled certificates and each of the non-pooled subordinate participations serves as the sole source of cash flow for a loan-specific class of certificates. Unless otherwise indicated, all percentage references reflect the aggregate in-trust balance of both the pooled and non-pooled components.

The trust assets consist of Lynnhaven Mall (54.3%), PGA National Resort & Spa (22.2%), Warner Center Marriott (11.9%) and Estancia La Jolla Hotel & Spa (11.6%). Each mortgage loan is secured by a single property. The related borrowers have a fee simple interests in three collateral properties (88.4%) and leasehold interest in one property, Estancia La Jolla Hotel & Spa (11.6%). The properties are located in three states, Virginia (54.3%, 1 property), California (23.5%, 2) and Florida (22.2%, 1). The pool has exposure to two property types, retail (54.3%) and lodging (45.7%), and the lodging exposure is comprised of two resort properties (33.8%) and one full service hotel (11.9%).

KBRA’s analysis of the transaction involved a detailed evaluation of the underlying cash flows using our CMBS Property Evaluation Guidelines and the application of our CMBS Single-Borrower & Large Loan Rating Methodology. The results of the analysis yielded a KNCF for the underlying collateral properties that was, on average, 2.5% less than the issuer cash flow. KBRA applied our stressed capitalization rates to the KNCF to arrive at valuations of the underlying properties. The KBRA values were, on average, 30.4% less than the appraiser’s valuation. The resulting KBRA loan to value (KLTV) was 85.7% for the pooled loans and 88.8% for the total in-trust balance. The financing for three of the properties (45.7%) also includes $89.9 million of debt held outside the trust in the form of $44.9 million of mezzanine debt, a $23.0 million subordinate B-note, and $22.0 million of preferred equity. Inclusive of this additional debt, the weighted average all-in KLTV was 106.5%. As part of our analysis, we also reviewed and considered third party engineering and environmental reports, our analysts’ site visits to the collateral properties, and the loan and securitization structures.

For complete details on the analysis, please see our presale report, BAMLL 2014-FL1 published today at The preliminary ratings are based on information known to KBRA at the time of this publication. Information received subsequent to this release could result in the assignment of final ratings that differ from the preliminary ratings.

Preliminary Ratings Assigned: BAMLL 2014-FL1

Class Balance Expected Rating A $197,147,000 AAA(sf) X-CP(1) $418,953,000 AAA(sf) X-EXT(1) $418,953,000 AAA(sf) B $55,223,000 AA-(sf) C $38,875,000 A-(sf) D $54,845,000 NR E $72,863,000 NR ELJ(2) $8,285,000 NR PGA(2) $5,397,000 NR

1 Notional amount

2 Represents a loan-specific class of certificates and is only entitled to distributions from the corresponding subordinate non-pooled participation in the related mortgage loan.

Related publications: (available at

CMBS: BAMLL 2014-FL1 Presale Report

CMBS: Single Borrower & Large Loan Rating Methodology, published August 8, 2011

CMBS Property Evaluation Guidelines, published June 10, 2011

About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

BondsFinancemortgage loanCMBS Contact:

Kroll Bond Rating Agency

Aleksandra Simanovsky, 646-731-2434


Robin Regan, 646-731-2358


Michael Brown, 646-731-2307


John Grosso, CFA, 646-731-2401 […]

ACE Cash Express Joins the Green Dot Reload Network, Adding 1,500 Locations


ACE Cash Express, Inc. (ACE) and Green Dot Corporation (GDOT) have signed a distribution agreement, making ACE an authorized retailer for the Green Dot Reload Network. Beginning this month, any cardholder with a Green Dot Network-enabled prepaid card can now reload cash to their card at any of ACE’s 1,500 locations in 35 states and the District of Columbia. Additionally, in 2015, Green Dot will begin selling other Green Dot-branded products at ACE locations.

Green Dot owns and operates the nation’s largest reload network. More than 200 programs representing millions of cardholders utilize Green Dot’s network for reload services through approximately 100,000 retail locations nationwide. Green Dot’s recent expansion into leading financial services center (FSC) retailers throughout the U.S. has met with strong retailer and consumer demand. In just the past twelve months, Green Dot has gone from no distribution in this important customer channel to now, with the addition of ACE, nearly 3,000 FSC locations coast to coast selling its products and services.

About ACE Cash Express

ACE Cash Express, Inc. is a leading retailer of financial services, including payday loans, installment loans, title loans, check cashing, bill payment, wire transfer, money orders and prepaid debit card services. ACE is the largest owner and operator of check cashing stores in the United States and the second largest owner and operator of short-term consumer loan stores in the United States. ACE focuses on serving consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to financial services. For additional information about ACE Cash Express, visit

ACE Cash Express on Twitter and ACE Cash Express on Facebook

About Green Dot Corporation

Green Dot Corporation and its wholly owned subsidiary bank, Green Dot Bank, are focused exclusively on serving Low and Moderate Income American families with modern, fair and feature-rich financial products and services, including prepaid cards, checking accounts and cash processing services distributed through a network of some 100,000 retail stores, neighborhood financial service centers and via digital channels. The Company is headquartered in Pasadena, California with Green Dot Bank located in Provo, Utah.

Green Dot Corporation Contact:

Investor Relations

Green Dot Corporation

Christopher Mammone, 626-765-2427


Media Relations

ICR for Green Dot Corporation

Brian Ruby, 203-682-8268


ACE Cash Express

Victoria Daugherty, 972-550-5161

Communication Manager […]

Delaying Marriage, One Loan Payment at a Time

I now pronounce you in decades of debt.

Student loans have hit a record high of $1.2 trillion, putting a crimp in The American Dream of owning a home and starting a family. And it’s affecting the broader economy too.

“People cannot participate in the American dream because of student debt,” said Natalia Abrams, executive director and co-founder of

Cody Hounanian, 23, graduated from University of California, Los Angeles last year with about $30,000 in debt. He worked part-time at an In-N-Out Burger restaurant near campus throughout college and now works full-time as a manager at Whole Foods in his hometown of Santa Clarita, Calif. He is in the process of applying to law school.

He’s not married, doesn’t expect to be anytime soon and puts part of the blame on the burden of student debt.

“I’m sure there are people who say, ‘I don’t want to have a husband or a wife who is $100,000 in debt,’ but I think the real problem is more indirect. There’s almost not enough time to go out and start a family,” he said. “It’s an aspect that people forget. Planning and investing: forming relationships get in the way of that.”

“People cannot participate in the American dream because of student debt.”

“I don’t want to sound materialistic, but there’s a financial aspect,” he said. “In finding someone, there has to be a cash flow in order to take someone out.”

Abrams said that even people with decent-paying jobs are delaying that walk down the aisle because of debt. “If you owe $100,000 to $150,000 in student loans, you’re paying $1,000 to $1,500 a month. It’s cost-prohibitive,” she said.

“Everything from saving for a home to saving for retirement is completely off the table,” Abrams said.

Student debt isn’t the only reason young people are putting off marriage, of course. Women are putting significantly more time into earning advanced degrees. And jobs for less-educated Americans have withered, causing a longer search for a career that can provide a middle-class lifestyle.

Never Married

While there is no specific data on student debt-related delays to marriage, a recent study by the Pew Research Center shows that a record number of Americans have never married. The study found the median age at first marriage is now 27 for women and 29 for men. In 1960, the median age was 20 for women and 23 for men.

Student loan experts say indebtedness is weighing heavily in the young adults’ decisions to get married, buy homes, and save for retirement, however.

Heather Jarvis, an attorney in Wilmington, N.C., who specializes in student loans and student loan education, said she considered her student debt when getting married and merging finances with her husband.

“Getting married actually reduced the loan payment assistance benefits from my law school. My debt became more squarely on my shoulders upon marriage,” said Jarvis.

According to the Internal Revenue Service student loan interest deduction regulations, graduates may not claim tax deductions on their qualified student loans if they are married and file separately from their spouse. If a married couple chooses to file jointly for a student loan interest deduction, they cannot be claimed as dependents on someone else’s tax return.

Debt burdens “do limit students and graduates’ choices, influencing their timing,” she said.

Jarvis, who graduated from Duke University School of Law in 1998 with $125,000 in student debt, just recently finished repaying her private loans. She now has to pay off her federal loan debt from law school, which is about $30,000 – just above the current national average for undergraduate borrowers.

“People are delaying marriage, looking for more fulfilling partners, delaying childbearing. This demographic is people in their late 20’s, and most demographers would agree with that,” said Dr. Robert Bozick, a sociologist at the RAND Corporation in Santa Monica, Calif. Bozick published a study in June that found student loan repayment affected marriage timing for women, though less so in men.

As college tuition rises, Bozick said, it’s likely that “we are going to see more non-traditional lifestyles” than in generations past, emphasizing the “greater levels of debt.” He has found more young people have changed how they weigh whether or not they’re going to disrupt their careers for marriage, when in previous years, it was often the reverse.

Dr. Bozick himself earned his master’s degree from the University of Maryland, College Park, in 2001, and his doctorate from Johns Hopkins University in 2005. He has not yet finished repaying his student loans.

First published October 7 2014, 5:57 AM


How Payday Loans Leave Cash-Strapped Borrowers Unbankable

Barry Barker’s flock of macaws and kites were squawking for food last year when he went online for a payday loan to save them. The automatic debits got so costly he had to close his bank account to stop them.

Barker, 71, a field biologist in Florida who runs a nonprofit shelter for exotic animals, isn’t alone. Thousands of Americans exit the banking system after turning to last-resort lenders, according to a study released yesterday by the Pew Charitable Trusts. Of 252 online payday-loan borrowers surveyed by Pew as part of a three-year research project, 22 percent closed a checking account or had one closed for them.

Payday lending is migrating to the Internet as states from New York to California restrict the costly short-term loans, which are secured by a borrower’s next paycheck. The websites charge twice as much on average as payday stores and account for a disproportionate share of consumer complaints about fraudulent charges or harassment by debt collectors, according to Pew.

“Abusive practices in the online payday-loan market not only exist but are widespread,” Nick Bourke, director of the Pew project, said in a statement.

Pew is releasing the study as the U.S. Consumer Financial Protection Bureau weighs the first federal payday-loan guidelines. Regulators should require lenders to make more affordable loans and disclose the cost clearly, Pew said.

Consumer Demand

Payday lenders say they provide a valuable service to people who lack access to cheaper forms of credit. The Online Lenders Alliance, a lobbying group, said in a statement responding to the Pew study that “its members are working to ensure consumers are treated fairly.”

Some of the borrowers surveyed by Pew who closed their bank accounts said lenders were making unauthorized withdrawals, while others said they couldn’t keep up with the payments.

The average interest on a $100 loan is about $25 every two weeks, or an annual rate of 652 percent, according to Pew. About a third of borrowers said their loans were set up to only withdraw those fees, meaning they ended up making several payments without reducing the principal.

“Their business model is based on churning — getting people a loan and then having people re-up it so they stay in debt indefinitely,” said Liz Murray, policy director for National People’s Action, a network of community organizations that ran protests against payday lenders in August that it called “Shark Week.”

Offshore Address

Pew found that online lenders accounted for 89 percent of payday-loan complaints made to the Better Business Bureau in 2011, even though they control only a third of the industry. Some online firms are set up offshore or affiliated with American Indian tribes, and say state laws don’t apply to them. Most complaints were about those kinds of lenders, and not state-licensed companies like Speedy Cash Inc. and Cash America International Inc. (CSH), according to the report.

Barker got his loan through a website called, which he found by looking on Google for a payday loan. The website, which has said it’s based in Belize, has been cited by regulators in at least seven states for making illegal loans.

CashJar was part of a network of payday websites run by three Americans on the Caribbean island of St. Croix, Bloomberg News reported last month, citing people with knowledge of the matter who asked not to be identified. The company, called Cane Bay Partners VI LLLP, is part-owned by Vector Capital IV LP, a private-equity fund that counts Harvard University and the Massachusetts Institute of Technology among its investors, according to former employees of Cane Bay and Vector. The Pew report doesn’t mention Cane Bay or CashJar.

Closing Account

Ronn Torossian, a spokesman for Cane Bay, said the company does consulting, not payday lending. He declined to say whether Cane Bay runs CashJar, saying confidentiality agreements prevent him from discussing any clients. CashJar couldn’t be reached for comment because its website is down and its phone number now belongs to another company.

Barker, who ended up filing for bankruptcy, said he had to close his bank account to stop CashJar from making automatic debits. He has since found homes for all but seven of the abandoned birds he was caring for.

“When I closed the checking account, that’s when the phone calls started,” Barker said. “The threats were unreal. They said they were going to send the sheriff to my house within 24 hours.”

To contact the reporter on this story: Zeke Faux in New York at

To contact the editors responsible for this story: Peter Eichenbaum at Steve Dickson, Steven Crabill

Press spacebar to pause and continue. Press esc to stop.


Trevena Enters into $35 Million Tranched Term Loan Credit Facility


Trevena, Inc. (TRVN), a clinical stage biopharmaceutical company focused on the discovery and development of G protein coupled receptor (GPCR) biased ligands, today announced that it has entered into a senior secured term loan credit facility providing for up to $35.0 million of funding, of which $2.0 million was drawn at closing. Trevena has the option to draw the remaining funds in two equal tranches upon positive clinical data in the Company’s ongoing TRV130 and TRV027 studies. Oxford Finance LLC serves as collateral agent and lender and Square 1 Bank serves as lender.

“This facility strengthens our cash position and provides us with meaningful financial flexibility over the next 18 months,” said Maxine Gowen, Ph.D., president and chief executive officer of Trevena. “If we receive positive Phase 2 clinical data in our ongoing studies, we can choose to draw on this facility to help fund further clinical development of our product candidates. We are delighted to be working with Oxford Finance and Square 1, and recognize in their commitment to us a shared belief in the potential benefits of Trevena’s drug candidates.”

“Oxford is pleased to support Trevena with this new financing,” said Christopher A. Herr, managing director for Oxford Finance. “Through our diligence process we have developed strong confidence in the Trevena team and the Company’s pipeline of promising new therapies.”

About the Credit Facility

In addition to the $2.0 million initial term loan tranche, the facility provides for up to two additional term loan tranches of $16.5 million each. Trevena may opt to draw the second term loan tranche upon the receipt of positive efficacy data from the phase 2 study of TRV130 and the third term loan tranche upon the receipt of positive data from the phase 2 study of TRV027. Trevena currently expects data from the phase 2 bunionectomy study of TRV130 at the latest by the first quarter of 2015, and from the phase 2 BLAST-AHF trial of TRV027 in acute heart failure by the end of 2015. The term loans bear interest at a rate of 6.5% per annum, and the maturity date for the credit facility is December 1, 2018. At the maturity date, a fee of between 5.25% and 7.0% of the amount borrowed will be due. In certain circumstances, the maturity date may be extended to September 1, 2019.

About Trevena

Trevena, Inc. is a clinical stage biopharmaceutical company that discovers, develops and intends to commercialize therapeutics that use a novel approach to target G protein coupled receptors, or GPCRs. Using its proprietary product platform, Trevena has identified and advanced three differentiated biased ligand product candidates into the clinic – TRV027 to treat acute heart failure, TRV130 to treat moderate-to-severe acute pain intravenously, and TRV734 to treat moderate-to-severe acute and chronic pain orally. Trevena also is advancing additional product candidates in its portfolio, including a preclinical program focused on central nervous system indications.

About Oxford Finance LLC

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit

About Square 1 Bank

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1’s expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients’ needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Denver, Durham, Los Angeles/Orange County, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit

Cautionary Note on Forward-Looking Statements

Any statements in this press release about future expectations, plans and prospects for the company, including statements about the company’s strategy, future operations, clinical development of its therapeutic candidates, plans for potential future product candidates and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “suggest,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the status, timing, costs, results and interpretation of the company’s clinical trials, including whether Trevena will have final data from the phase 2 bunionectomy study of TRV130 by the first quarter of 2015, and from the phase 2 BLAST-AHF trial of TRV027 in acute heart failure by the end of 2015; the uncertainties inherent in conducting clinical trials; whether interim results from a clinical trial will be predictive of the final results of the trial or results of early clinical trials will be indicative of the results of future trials, including whether the company’s belief in the potential benefits of Trevena’s drug candidates will be realized; expectations for regulatory approvals; availability of funding sufficient for the company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements, including whether the term loan credit facility will provide the company with meaningful financial flexibility, whether the company will receive positive data in the TRV027 Phase 2 study and/or the TRV130 Phase 2 study to enable it draw the remaining $34 million provided under the term loan credit facility and, in such case, whether the company will choose to draw down on the facility; other matters that could affect the availability or commercial potential of the company’s therapeutic candidates; the inherent uncertainties associated with intellectual property; and other factors discussed in the Risk Factors set forth in the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other filings the company makes with the SEC from time to time. In addition, the forward-looking statements included in this press release represent the company’s views only as of the date hereof. The company anticipates that subsequent events and developments may cause the company’s views to change. However, while the company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, except as may be required by law.

Health Care IndustryFinanceTrevena, Inc.Credit Facility Contact: Investor Contacts:

Trevena, Inc.

Jonathan Violin

Director of investor relations

610-354-8840 x231


Argot Partners

Andrea Rabney

President and chief executive officer



Media Contact:

Argot Partners

Eliza Schleifstein

917-763-8106 […]

Payday loan, phone scam victim issues warning for others | Fox17

VAN BUREN COUNTY, Mich. — Pamela Eldred says she took a phone call on Thursday from a man claiming she owed a debt.

The lifelong Paw Paw resident said this call came from out of the blue, and she wasn’t sure if she owed anything.

The caller identified himself as Daniel Lewis with Philip Hopkins Law Firm in California. He had also left a couple of voice messages.

‘Lewis’ said he represents a payday loan company called CashNetUSA, and he told Eldred she owes $300. If she didn’t pay, she was told, court costs would be in the thousands of dollars, she said.

‘Lewis’ asked Eldred if she had a credit card, and she told him she had her husband’s card.

“He goes, ‘Can you use that? If you don’t you’re going to go to jail. We’re going to call the police,’” Eldred said. She gave the caller her husband’s debit card number.

For Eldred, this could have ended badly. She and her husband could have lost their money.

In this story, she explains the steps she took to avoid disaster, and the Paw Paw police offer advice on how to avoid becoming a victim.

Watch the video for more.

Filed in: News


Stuff Everyone Ought To Learn About Receiving A Pay Day Loan …

Stuff Everyone Ought To Learn About Receiving A Pay Day Loan

Posted on September 6, 2014 by Vera Van Laer in Business Products & Services.

Get urgent $ 500 payday online ck marketing Fresno California no employment verification same day 10 minutes approval. You can also apply instant $100 checkline personal loans New York, NY no fax.

Pay day loans, also known as brief-term loans, offer you monetary strategies to anyone who needs a few bucks rapidly. Even so, the process might be a little difficult. It is important that you know what should be expected. The ideas in this article will prepare you for a payday advance, so you may have a great expertise.

There are state laws and regulations, and rules that especially include payday cash loans. Frequently these companies have realized methods to operate all around them legally. Should you sign up for a cash advance, usually do not consider that you may be able to get from it without paying it away in full.

If you are paying out your pay day loan away, make certain that the verify you write will not inflatable bounce. If this does, you may be confronted by massive fees from your loan company, and will most likely receive some additional costs from your banking institution. This could quickly snowball, and you may end up in financial issues than once you required out the financial loan to start with.

Should you be contemplating a shorter word, payday advance, usually do not acquire anymore than you must. Payday cash loans ought to only be used to get you by in the crunch and never be utilized for additional money through your wallet. The rates are far too great to borrow anymore than you undoubtedly need.

When studying the offered regards to a payday loan offer you, be sure to decide if you can find any penalties assessed for prepayment of your financial loan balance. In this way, it is easy to avoid paying out unnecessary fascination when the funds required to pay back the loan are, received sooner than in the beginning expected.

Pay day loans are a very good way to acquire dollars in a rush. There are lots of companies that offer you this specific service, and the expenses associated with these sorts of loans change. Seem to get the best offer on the loan to help you pay it off swiftly and without the considerable persistent debts.

When seeking to accomplish a cash advance as with all acquire, it is wise to take time to shop around. Different spots have programs that differ on interest rates, and suitable forms of collateral.Look for a loan that works well to your advantage.

If you think that a cash advance business has been doing you wrong, tend not to be frightened to report them to your express company. When there are numerous wonderful payday advance companies, there are also a lot of fakes. To get free of these artificial companies, their state should be made aware of them.

While confronting a payday financial institution, keep in mind how tightly regulated they may be. Interest rates are generally lawfully capped at varying level’s express by state. Understand what responsibilities they already have and what personal rights that you may have as a buyer. Hold the contact info for regulating government places of work handy.

The main rule relating to payday loans would be to only acquire whatever you know you are able to pay back. For instance, a cash advance firm may provide you with a specific amount because your income is nice, but you might have other obligations that stop you from paying the financial loan again. Generally, it is wise to get the sum you can afford to repay when your expenses are paid for.

Be very careful rolling more than any kind of payday advance. Frequently, folks feel that they may shell out in the adhering to pay time period, but their personal loan eventually ends up obtaining greater and bigger right up until they can be kept with very little dollars to arrive using their paycheck. They can be trapped in the cycle exactly where they are unable to pay out it again.

If you are looking to acquire a payday advance but they are tense about the prospect of it, you must unwind. Realize that a lot of the bad connotations associated with a payday advance will not be correct. If you borrow only whatever you can afford and pay out it again from the because of date, it ought to be an easy encounter.

Receiving a quick-term financial loan can be only the point you have to assist you to by way of difficulty. These loans can be a excellent aid, but only for those who have all the details you need. Utilize these ideas to help you get judgements about getting a pay day loan, and you may cope with these challenging times quicker.


‘Trapped Cash’ Phenomenon Labeled an Overstatement

By Siobhan Hughes

Big American companies have long complained that an estimated $1 trillion in cash is trapped overseas—all because the U.S. corporate tax rate of 35% keeps companies from bringing it home. A new report from a California tax-law professor counters that argument, calling it an “overstatement” advanced by large, multinational corporations with significant foreign operations.

Ed Kleinbard, a professor at the University of Southern California who was previously chief of staff at the Joint Committee on Taxation, examines why so many companies are seeking to reincorporate overseas for tax purposes, a practice known as inversion. Companies are advancing a “false narrative,” he says, that they are pushed into inversions because “their love goes unrequited by a country that cruelly saddles them” with “the highest corporate tax rate in the world.”

Instead, U.S. multinationals take advantage of a “feast of tax planning opportunities” to end up with corporate tax rates that are “the envy of their international peers,” he writes. A May 2013 report by the Government Accountability Office found that for the 2010 tax year, the effective tax rate paid by profitable companies was 17%, factoring in foreign and state and local income taxes. The effective rate was 22.7% when unprofitable companies were included – still well below the top rate of 35%.

As an example, Mr. Kleinbard cites Apple Inc. The maker of the iPhone held $113.3 billion in cash and other instruments in overseas subsidiaries as of Sept. 28, 2013. In May 2013, it issued almost $17 billion in debt. Under the U.S. tax code, the interest earned on the overseas cash is taxable in the U.S. At the same time, the interest payments on the debt are tax-deductible in the U.S. The interest earned on the overseas cash investments can be used to pay the interest on the loan, and the company, Mr. Kleinbard says, “is left in the same economic position as if it had simply repatriated the cash tax-free (plus or minus a spread for differences in interest rates between the two streams.)”

“As Apple Inc. demonstrated in 2013, large multinational firms often can access their offshore earnings without incurring a tax cost, simply by borrowing in the United States and using the earnings on the offshore cash to pay the interest costs,” he writes.

The idea that current tax rules trap cash overseas, Mr. Kleinbard concludes, is a “great overstatement.”

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Marabella Commercial Finance, Inc. Achieves Strong Loan Production in Second and Third Quarter of 2014 – Net Lease …

CARLSBAD, Calif., Aug. 5, 2014 (GLOBE NEWSWIRE) — via PRWEB – Marabella Arranges Financing For several Walgreen, Starbucks and O’Reilly’s Automotive Properties in the 2nd and 3rd Qtr. 2014. For the Walgreen property the Sponsor was a repeat client for Marabella Commercial Finance. Marabella dealt with the Sponsor’s uncle in the 1970’s in which Marabella acted as principal structuring Sale-Leaseback financing with Safeway, putting CTL debt on the stores and then selling the Safeway stores to the uncle. For the nephew’s Walgreen store Marabella structured a refinance / cash-out transaction. Marabella originated a CMBS permanent loan of $4,500,000. The spread for this transaction was 197 Basis Points over the 10 year swap rate. The rate was locked at approximately 4.70%. The Sponsor requested a 6 year interest only loan and after the interest only period the loan begins to amortize over 25 years from year 7 to 10. This was a Non-Recourse loan with Standard Carve-Outs. For the Starbucks property Marabella met the developer at the International Council of Shopping Centers Convention (RECON) May 2014 and helped the developer pull cash out of the Starbucks. Marabella Arranged a loan amount of $850,000 with an amortization of 20 years and fixed for 10 years at 4.75%. The prepayment penalty is a friendly 3.00% for the life of the loan and no prepayment for the last 6 months of the loan. If all conditions are met this transaction should fund in mid August 2014. The Developer plans to have Marabella arrange financing for additional Net Lease Projects he has in the works. The Sponsor for the O’Reilly’s transaction is a repeat client for Marabella. Marabella Commercial Finance arranged financing for this client’s other O’Reilly’s property several years ago. For the new cash-out transaction a conditional commitment has been issued. The client for this transaction requested a fixed and fully amortizing coterminous loan which amortizes over the remaining primary term of the lease which is 14 years. The fully amortizing loan has a fixed rate of approximately 4.25%. This loan also comes with a friendly prepay option of 3.00% for the life of the loan and the no prepayment window in the last 90 days of the loan. If all conditions are met this loan should fund in mid-August 2014. Marabella is also arranging financing for two additional Walgreen properties and working with a repeat client in which Marabella arranged financing for her clients KinderCare property in Irvine, California (Southern California). This client is one of the top female money managers in United States by Barron’s financial magazine and has $1.2 Billion in assets under management. Marabella arranged an 18 year amortization with a 15 year fixed rate loan at approximately 4.25%. The loan amounts equaled $1,725,000 and $2,850,000. Marabella again arranged a friendly 3.00% prepayment penalty for this transaction. If conditions are met both of these transactions are expected to fund sometime in September 2014.

About Marabella Commercial Finance

Marabella Commercial Finance specializes in arranging financing for 1031 Exchange Net Lease Buyers, Commercial Investment Properties and Large Anchored Centers. Past Credit Tenant Net Lease Properties that Marabella Commercial Finance has originated loans are as follows; Walgreens, CVS, Starbucks, Kohls, Dollar General, Family Dollar, Dollar Tree, Safeway Stores, Rite Aid, Jack in the Box, 7-Eleven, O’Reilly’s, AutoZone and Large Anchored Centers with credit tenants. Marabella Commercial Finance, Inc. is a member of the Mortgage Bankers Association and will be attending the annual 2015 CREF Convention in San Diego, CA from February 1st to the 4th, 2015. Marabella will also be attending the International Council of Shopping Center’s 2014 Annual Western Division Convention in San Diego, CA from October 1st, to October 2nd, 2014 at the San Diego Convention Center. MCF will also be attending the 2015 International Council of Shopping Center’s RECON Convention around May 17th to the 20th 2015 at the Las Vegas Convention Center in Las Vegas, Nevada. Christian Marabella is also a Board Member of ACRE Socal —

Contact: Christian S. Marabella – President

Marabella Commercial Finance

We Finance America’s 1031 Exchange Net Lease Properties

(760) 479-0800

Email: nnn(at)marabellafinance(dot)com

This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit

View photo.FinanceLoansCommercial FinanceStarbucks Contact: Marabella Commercial Finance
Christian S. Marabella
+1 (760) 479-0800