A community meeting on Saturday will put Metro Council representatives face-to-face with residents to discuss legislation that could restrict pawnshops and payday lending businesses.

The Neighborhoods Resource Center will host the meeting at 1 pm Saturday at 1312 Third Ave. North.

Council members Fabian Bedne, Jacobia Dowell and Karen Johnson are scheduled to attend. They are sponsoring legislation that would change Davidson County zoning to limit the size of financial institutions to 2,500 square feet and create a distance requirement of a quarter-mile between such businesses.

The proposal cites a Chattanooga study that found payday lenders can reduce property values...

The first limits on mortgage lending in decades come into force this week as the Bank of England attempts to take some of the heat out of the home loan market.

The restrictions on lenders come into force as official data is expected to cast economic growth since 2012 in a stronger light, which will add to deliberations in Threadneedle Street over the timing of an interest rate increase. .

When Mark Carney, governor of the Bank of England, announced the caps on mortgage lending in June he acknowledged they would not have an immediate impact on house prices. But they are regarded as significant because they illustrate a bolder approach by policymakers in the wake of the 2008 banking...

About

Nick Clements is a personal finance expert and the co-founder of MagnifyMoney.com, a website that makes it easy for people to compare financial products, ditch expensive banking relationships and save money. By answering just a few questions, you can receive personalized recommendations and see how much money you can save.

Nick believes that banking has become too complicated and expensive, and he wants to make it simpler and cheaper.

Before MagnifyMoney, Nick spent nearly 15 years in banking. Most recently, he ran the largest credit card business in the UK (Barclaycard). He also spent 6 years in Risk Management with Citibank, working in New York, London and Moscow.

A...

Ben Rudd wants to make it easier for community banks to make commercial loans.

The former president of Heritage Bank Trust in Columbia, Tenn., has created BancAccess to connect community banks with business loans through a cooperative system. Its a new concept in Tennessee, and Rudd said regulators havent seen a similar idea elsewhere in the country.

Currently, four banks in rural Tennessee have capitalized Rudds company as co-owners. Hes anticipating eventually bringing additional capital in from 20 to 30 banks throughout the country. The companys loan referral system is open to any bank, though ones that have an ownerships stake in the venture get first dibs on loans.

Heres...

Though its a great feeling to be a homeowner, paying a fat portion of your salary towards the EMI payment is not the happiest feeling. And to to keep paying this sum of money for a period of 10-15 years (the tenure of your home loan) may feel exasperating, as the best part of your youth is over by then. Besides, the interest rate you pay the lender may actually end up making the repayment amount bigger than the principal amount you have borrowed. What then is the solution? The solution is prepayment of your mortgage in easy and simple steps to lighten your debt burden and save money in the long run.

Till about a couple of years back, one had reason to be worried about the prepayment...

The government-sponsored enterprise Fannie Mae posted another great blog post this morning.

Senior manager of economic and strategic research, Li-Ning Huang proffers something most of us in the mortgage financier business felt for some time; new regulations are deeply impacting mortgage lending.

The Consumer Financial Protection Bureau is not alone in passing new rules, as we all know. The Federal Reserve and the Federal Deposit Insurance Corp. also have new rules, for example.

In the quarterly Mortgage Lender Sentiment Survey, she writes:

Most lenders believe new regulations have had significant impact on their business. In particular, lenders...

While every business in America is going paperless, the process of applying for and obtaining a home loan has become very complicated and odious. This paper-driven process is due to the massive new government regulations, which purport to protect homeowners. However, these regulations discourage many consumers from even trying to obtain a home loan.

The process for many new homebuyers is just too daunting, with popup roadblocks and continuous requests for more information. One problem is the disjointed message from regulators out of Washington, DC It was reported in late spring that Fannie Mae — a government-sponsored enterprise (GSE), which securitizes nearly $23 billion per year...

* Australia is second-largest RMBS issuer so far this year

* Margins shrink to 70 bps from 85 bps, more contraction to
come

* Offshore demand seen increasing with ECB stimulus plan

By Cecile Lefort

SYDNEY, Oct 16 (Reuters) – Australias $236 billion
mortgage-driven securitisation market may see a further fall in
its already low yields when the European Central Bank (ECB)
embarks on its plan to stimulate the euro zone economy.

Demand from offshore investors and financial institutions
scouring for yield has already depressed returns in Australias
residential mortgage-backed securities (RMBS) over the past few
years. A further...