Mexico: Credit rating downgrades to continue, placing downward pressure on MXN – Wells Fargo
Friday, 22 May 2020, 19:04:04
According to analysts at Wells Fargo, Mexico will likely face more credit rating downgrades that could lead to capital outflows in the future. They wa
America’s largest mall is reportedly 2 months behind on a $1.4 billion loan
Thursday, 21 May 2020, 17:56:41
The Mall of America, the biggest mall in the US, has missed two months of payments on a $1.4 billion commercial mortgage-backed security, Bloomberg reported Thursday , citing a filing by Wells Fargo, the loan’s master servicer. The filing states that the loan is currently due for April and May payments, according to the report. In addition, the borrower has notified Wells Fargo of COVID-19-related hardships. The Mall of America closed March 17 amid sweeping lockdowns to curb Covid-19. It plans to reopen some retail shops June 1. Read more on Business Insider . The biggest mall in the US is experiencing financial hardship as the coronavirus pandemic slams the retail industry. The Mall of America, based in Bloomington, Minnesota, has missed two months of payments on a $1.4 billion commercial mortgage-backed security, Bloomberg reported Thursday . The report cited a filing by Wells Fargo, the trustee of the debt and a master servicer of the loan. The filing states that the loan is currently due for April and May payments, according to the report.
— Business Insider
The 6 best credit cards for bad credit in May 2020
Thursday, 21 May 2020, 15:36:00
Having a low credit score makes it harder to get approved for a new credit card and other types of loans, and it means that when you do get approved for, say, a mortgage, you’ll generally get less-favorable terms like the highest variable interest rates. A bad credit score is defined as anything below 580, according to the FICO scoring model, and anything below 601 according to VantageScore. If you currently find yourself in this credit score range, you probably won’t get approved for popular rewards cards like the Chase Sapphire Preferred® Card , but you do have some credit card options. Secured credit cards are particularly easy to get approved for, because you put up a cash deposit as collateral to get started, and there are also non-secured cards tailored to those looking to repair or build their credit. Using a card responsibly will help boost your credit over time, since keeping your credit utilization low and making on-time payments are the two biggest factors that determine your credit score .
— Business Insider
‘All hands on deck:’ JPMorgan and Bank of America are reassigning staff to focus on troubled loans and companies amid a wave of pandemic-driven disruptions
Thursday, 21 May 2020, 15:27:02
Some of the largest US banks have been shifting employees into roles restructuring troubled loans, according to people with knowledge of their policies. Others are lending a hand with an influx of new loan requests, including credits for troubled companies seeking cash, some of the people said. “It’s all hands on deck and everyone is doing what they can,” one of the people said. Some of the employees had been working on examination activities, and got freed up when the Federal Reserve called a halt to some exams in late March. “The regulators don’t want regulation to be the excuse why banks aren’t doing their best to keep their employees safe, and help their customers and clients and counterparties work through these difficult times,” said PwC’s Adam Gilbert. Click here for more BI Prime stories. Some of the largest US banks have started shifting employees into restructuring roles as they take steps to handle a wave of troubled or defaulted loans, according to people with knowledge of their policies.
— Business Insider
Wells Fargo And NGLCC Collaboration Launches XLR8 LGBTBE® Capacity Development Program
Wednesday, 20 May 2020, 16:15:00
WASHINGTON, May 20, 2020 /PRNewswire/ — Wells Fargo & Company and the National LGBT Chamber of Commerce (NGLCC), the business voice of the LGBT community, are proud to announce an unprecedented program for LGBT entrepreneurs: The NGLCC XLR8 Program. The XLR8 Program is designed to help…
— PR Newswire