Some lenders will charge a higher interest rate to someone with a low fico score or "bruised credit". They are not necessarily "predator lenders" but must take a higher risk than the bank. I am assuming that you are referring to real estate lending. There are private lenders, institutional lenders, mortgage brokers, and mortgage bankers. I would suggest you check with a member of NAMB. National Association of Mortgage Brokers. They are licensed in each State they operate in and also uphold their standards to the Mortgage Broker Code of Ethics. They are licensed and bonded.
As far as consumer credit, auto loans, credit cards & payday loans, I am not qualified to answer
Check with your lender. But in general - yes. Be aware of predatory lenders and predatory lending practices.
payday lenders can charge up to what interest
This is tricky because a lot of residential lenders can be predatory. A good way to weed out the predatory lender is to ask questions. Ask them what each fee means and any other questions about the application. Any lender who wants to help you can explain everything in detail without hesitation. Be sure to trust your instinct, too.
Alternative financing is financing that has a higher interest rate and is not considered conventional or first tier. It is procured from lenders that charge fees and higher interest rates.
Greedy Wall Street Fat Cats & Predatory Lenders ...ie...CitiFinancial
stay still
Check with your lender. But in general - yes. Be aware of predatory lenders and predatory lending practices.
payday lenders can charge up to what interest
payday lenders can charge up to what interest
Alternative financing is financing that has a higher interest rate and is not considered conventional or first tier. It is procured from lenders that charge fees and higher interest rates.
This is tricky because a lot of residential lenders can be predatory. A good way to weed out the predatory lender is to ask questions. Ask them what each fee means and any other questions about the application. Any lender who wants to help you can explain everything in detail without hesitation. Be sure to trust your instinct, too.
Interest payable or paid to lenders on debentures.
Greedy Wall Street Fat Cats & Predatory Lenders ...ie...CitiFinancial
Greedy Wall Street Fat Cats & Predatory Lenders ...ie...CitiFinancial
To make money.
Because mortgage lenders make money by charging more interest than they pay.
Net interest margins are important because they show the difference in interest rates between the banks, and the lenders. Without these, one would have no idea how much of an interest rate is needed.