Cash out refinancing

Safeguard Scientifics’ Board of Directors Approves Plan to Voluntarily Terminate Registration of Its Common Stock with the SEC and Voluntarily Delist from Nasdaq

Retrieved on: 
Thursday, October 5, 2023
Schedule, Pete Musser, Special, Minimum number of individuals, Reverse stock split, Maxima and minima, Safeguard, Cash out refinancing, SFE, Cryptocurrency, Security (finance)

In order to deregister its shares of common stock, the Company must reduce its number of shareholders of record to below 300.

Key Points: 
  • In order to deregister its shares of common stock, the Company must reduce its number of shareholders of record to below 300.
  • Upon the forward stock split, the shares of common stock (including any fraction of a share of common stock) held by such Continuing Shareholders after the reverse stock split will be reclassified into the same number of shares of common stock as such Continuing Shareholders held immediately prior to the effective time.
  • As a result of the forward stock split, the total number of shares of common stock held by a Continuing Shareholder would not change due to the stock splits.
  • If the Stock Split Proposals are approved by shareholders at the Special Meeting and the Board decides to proceed with the going private transaction, the Company will take steps to terminate the registration of its common stock with the SEC and delist its common stock from trading on Nasdaq.

Earnin Announces They Have Provided Access to $10 Billion in Earnings for Members

Retrieved on: 
Tuesday, November 2, 2021
Professional Services, Technology, Other Technology, Finance, Software, Banking, People, Time, Income, EWA, Goal, Cash out refinancing, Credit, Bank, Restaurant

The $10 billion milestone was reached via more than 125 million transactions on Cash Out the companys core Earned Wage Access (EWA) product.

Key Points: 
  • The $10 billion milestone was reached via more than 125 million transactions on Cash Out the companys core Earned Wage Access (EWA) product.
  • Earnin empowers consumers by allowing workers to access their pay as they earn it, rather than when employers decide to provide access to wages.
  • It helps avoid falling behind on everyday bills and expenses, and improves their overall financial situation, said Earnin CEO Ram Palaniappan.
  • As of September 2021, Earnin has performed more than 125 million transactions and provided access to $10 billion in earnings for its members.

RMR Mortgage Trust Closes $27.4 Million First Mortgage Bridge Loan Refinancing of an Office Property in Plano, Texas

Retrieved on: 
Tuesday, July 13, 2021
REIT, Finance, Professional services, Commercial Building & Real Estate, Construction & Property, Mortgage, Money, Finance, Mortgage loan, Economy, Refinancing, Commercial mortgage, Cash out refinancing

RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $27.4 million first mortgage floating-rate bridge loan to refinance 500 N. Central Expressway in Plano, Texas, a five-story, 237,000 square foot, multi-tenant office property.

Key Points: 
  • RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $27.4 million first mortgage floating-rate bridge loan to refinance 500 N. Central Expressway in Plano, Texas, a five-story, 237,000 square foot, multi-tenant office property.
  • The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements.
  • Tom Lorenzini , President of RMRM, made the following statement:
    We continue to expand and diversify RMRMs portfolio with the closing of this first mortgage whole loan.
  • RMR Mortgage Trust (Nasdaq: RMRM) is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate.

Priority Technology Holdings, Inc. Announces Completion of Debt Refinancing and Preferred Equity Issuance

Retrieved on: 
Thursday, April 29, 2021
Finance, Money, Mortgage, Financial markets, Corporate finance, Personal finance, Refinancing, Preferred stock, Cash out refinancing

b'ALPHARETTA, Ga., April 29, 2021 /PRNewswire/ --Priority Technology Holdings, Inc. (NASDAQ: PRTH) ("Priority"), a leading payments technology company, today announced the completion of its debt refinancing and preferred equity issuance.\nThe new senior debt facility, which improves interest expense by 75 basis points, includes an initial term loan of $300 million used to refinance existing debt and pay debt placement fees and expenses.

Key Points: 
  • b'ALPHARETTA, Ga., April 29, 2021 /PRNewswire/ --Priority Technology Holdings, Inc. (NASDAQ: PRTH) ("Priority"), a leading payments technology company, today announced the completion of its debt refinancing and preferred equity issuance.\nThe new senior debt facility, which improves interest expense by 75 basis points, includes an initial term loan of $300 million used to refinance existing debt and pay debt placement fees and expenses.
  • "\nPriority has also executed a strategic preferred equity investment from credit funds managed by certain affiliates of Ares Management that includes an initial issuance of $150 million used to refinance existing debt, pay stock issuance fees and expenses, and add cash to the balance sheet for acquisitions.
  • A committed delayed issuance of $50 million will be used to finance a portion of the Finxera acquisition at closing later this year.
  • "We look forward to working closely with the outstanding Priority team to position the company for long-term growth and success.

US Farathane Announces Refinancing of $478 Million of Debt

Retrieved on: 
Monday, March 22, 2021
Chemicals, Plastics, Professional services, Manufacturing, Finance, Mortgage, Personal finance, Refinancing, Money, Finance, Economy, Cash out refinancing, USF, The Gores Group

The transaction provides for a $308 million term loan maturing in December 2024 and a $175 million privately placed second-lien term loan due in December 2025.

Key Points: 
  • The transaction provides for a $308 million term loan maturing in December 2024 and a $175 million privately placed second-lien term loan due in December 2025.
  • The proceeds will be used to refinance the Companys existing $478 million term loan which was set to mature in December 2021.
  • We are pleased to announce the refinancing of our term loan which extends our debt maturity, said Andy Greenlee, Chief Executive Officer of USF.
  • Refinancing our term loan allows us to continue our track record for winning new business and remain focused on launch execution.

2020 Savings on Auto Loan Refinancing Among Highest on Record

Retrieved on: 
Tuesday, January 26, 2021
Mortgage, Money, Finance, Personal finance, Economy, Loans, Refinancing, Mortgage loan, Streamline refinancing, Cash out refinancing

The report provides an analysis of over half a million anonymized customer auto loan refinance applications from 2019-2020, examining interest rates, savings, credit scores, and debt-to-income ratios by vehicle type and geographical region.

Key Points: 
  • The report provides an analysis of over half a million anonymized customer auto loan refinance applications from 2019-2020, examining interest rates, savings, credit scores, and debt-to-income ratios by vehicle type and geographical region.
  • Americans saved an average of $989.72 a year on refinancing their car in 2020, the largest amount since 2016.
  • On average, Americans who applied to refinance their auto loans did so only 14.5 months into their existing loan -- the shortest time on record.
  • "Interest in better, more attractive terms for collateral-backed loans such as mortgage refinancing and auto refinancing, with the help of historically low fed rates, has increased.

Black Knight: Surge in Refinance Lending Driven by Record-Low Rates Leads to Largest Quarterly Volume on Record; Just 18% of All Refinancing Borrowers Retained by Servicers

Retrieved on: 
Tuesday, September 8, 2020
Mortgage, Personal finance, Finance, Refinancing, Money, Cash out refinancing, Banking in the United States, Family economics, United States housing bubble, Subprime mortgage crisis

"Nearly $1.1 trillion in first lien mortgages were originated in Q2 2020, which is the largest quarterly origination volume we've seen since first reporting on the metric in January 2000.

Key Points: 
  • "Nearly $1.1 trillion in first lien mortgages were originated in Q2 2020, which is the largest quarterly origination volume we've seen since first reporting on the metric in January 2000.
  • At the same time, purchase lending declined 8% year-over-year as the traditional spring homebuying season was impacted by COVID-19-related restrictions.
  • Likewise, while Q2 refinance activity was record-breaking, refi lock data suggests Q3 refinance volumes could climb even higher.
  • Despite a nearly 17-year high in refinance originations, the business of just 22% of rate/term borrowers and a mere 13% of cash-out refinance borrowers was retained in servicers' portfolios post-transaction.

Talonvest Closes $8.64 Million 10-Year Interest Only Loan

Retrieved on: 
Wednesday, July 29, 2020
Money, Finance, Loans, Economy, Mortgage, Debt, Nonrecourse debt, Taxation in the United States, United States housing bubble, Cash out refinancing

The $ 8,640,000 non-recourse loan featured ten years of Interest Only payments, cash out, and an upper 3.0% fixed rate loan.

Key Points: 
  • The $ 8,640,000 non-recourse loan featured ten years of Interest Only payments, cash out, and an upper 3.0% fixed rate loan.
  • Talonvest was able to keep all parties engaged during the past 120 days and orchestrated a loan funding as soon as the lender began closing loans again.
  • The Talonvest team responsible for this assignment included Erich Pryor, David DiRienzo, Lauren Maehler, Jim Davies, and Eric Snyder.
  • Talonvest Capital is a boutique real estate firm providing advisory services to self storage and commercial real estate investors, owners and developers nationally.

Black Knight: Q1 2020 Cash-Out Refinances Fell Despite Record-High Tappable Equity; Low Rates Have Increased Refinance Incentive Even in Face of Rising Delinquencies

Retrieved on: 
Monday, July 6, 2020
Mortgage, Economy, Money, Personal finance, Finance, Loans, Refinancing, Cash out refinancing, Mortgage loan

"Tappable equity rose by 8% year-over-year in the first quarter of 2020 to a record high of $6.5 trillion," said Graboske.

Key Points: 
  • "Tappable equity rose by 8% year-over-year in the first quarter of 2020 to a record high of $6.5 trillion," said Graboske.
  • "What's more, with mortgage interest rates hitting record lows, 90% of homeowners with tappable equity now have first lien rates above the prevailing market average.
  • But while Q1 2020 saw overall refinance lending climb to a 7-year high, the number of cash-out refinances, as well as the dollar value of equity withdrawn via refinance, fell for the first time since early 2019.
  • Likewise, the $38.7 billion in equity withdrawn from the market via cash-out refinances was down 8% from the prior quarter.

Apple FCU Provides Tips on Tapping Into a Home’s Equity as Pandemic Spurs Time at Home and Rates Are at a Low

Retrieved on: 
Wednesday, June 17, 2020
Finance, Banking, Professional services, Residential Building & Real Estate, Construction & Property, Mortgage, Economy, Money, Finance, Refinancing, Cash out refinancing, Mortgage loan

For many consumers who are now working from home, theyve started working on or thinking about home projects that theyve put off.

Key Points: 
  • For many consumers who are now working from home, theyve started working on or thinking about home projects that theyve put off.
  • With rates at some of the lowest in modern history, tapping into your homes equity can be a great option for making home upgrades, says Jeff Long, Chief Lending Officer, Apple Federal Credit Union.
  • Consumers who have paid their mortgage consistently over the years, coupled with property value increases, have probably built up some healthy equity.
  • Know your options for paying down debt: A cash out refinance allows homeowners to get cash from their homes equity.