Lending in rising rate environment: A look at HELOCs

first_imgOf course, there’s no such thing as free money, but the historically low interest rates of the past few years have been about as close as most consumers will ever get to the concept. Those low rates meant many consumers decided it was worth a few bucks in closing costs to refinance their higher-rate variable or fixed mortgages into something that would cost them a lot less interest over the life of the loan.Now, that pesky, interfering Fed has raised its federal funds rate — and interest rates are going along for the ride. Many consumers who might have been in the refi market just a year ago will likely decide they’re better off with the loans they have, rather than taking a chance that rates will continue to rise. When homeowners become wary of rising rates, refi business dries up for financial institutions.When refinancing business dwindles, and the new mortgage market becomes even more competitive, banks need to find other profitable lending opportunities. Our upcoming webinar, Top Lending Strategies in a Rising Rate Environment, aims to help financial institutions uncover opportunities to help them offset the probable downturn in these areas. You’ll hear from top economist Mark Zandi from Moody’s Analytics, as well as Deluxe’s own Chief Data Scientist Kesna Lawrence as they discuss the changing environment and how FIs strategies should be shifting for success in 2018. continue reading » 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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Kamarang and Kako register opening wins in Heritage football

first_imgREGION Seven teams Kamarang Tunnel Tigers (females) and Kako (males) registered contrasting wins to kick off the 2019 Heritage Games football competition yesterday morning at the Everest Cricket Club Ground.Kako needled Lake Mainstay 1-0, while the Tunnel Tigers gained revenge over a Region Eight Combine with a 4-0 victory.The Region Eight Combined players (light green) could not control their opponents.In the male clash, 19-year-old striker Artherley Elliman converted right in front of the uprights in the 79th minute of play to seal the victory.In the female clash, the Tunnel Tigers, who were knocked out in the quarterfinals by Region Eight last year, were able to out muscle, out run and outperform their rivals during the game.This year, the Region Eight side came with a number of new faces and their lack of practice together and conditioning under a sweltering sun undermined their chances.The scoreline could have been by a wider margin if Region Eight’s keeper Sharmella Clement had not held her own in goal. Zulika McNaughton, who showed some nice touches up front, had four of her shots blocked in the second half. The damage however, was already done, as the Region Seven female team had scored three of their four goals in the first half.Right-winger Patsy Walker converted the opener in the 17th minute, before McNaughton via an Ellenixa Martin cross, made it 2-0 three minutes later.Zorina Alli (partially blocked by a teammate) delivers a right-foot shot just outside the box, which passes the outstretched hands of Region Eight’s keeper Sharmella Clement.Zorina Alli then made it 3-0 in the 27th minute of play via another Martin pass, which left her alone with the keeper.Martin who did a good job in the forward position was able to set up substitute Simone Willie, who converted well from outside of the box in the 55th minute.The football competition, the highpoint of Heritage Games, will continue with knockout games until the finals tomorrow night.last_img read more

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Goal, City Football Group partner for esports series

first_imgFootball news website Goal has partnered with the City Football Group for an esport series – titled Goal Vs – that centers around its professional FIFA player, Graham “GrayzaGoal” McIntyre.The first four episodes of the series will show McIntyre facing off against fellow FIFA players from Manchester City FC, New York City FC and Melbourne City FC – all of which are part of the City Football Group.Paul Rayment, Marketing Manager for Goal said: “FIFA plays an integral part in how Goal’s fans enjoy football, for many, they spend more time playing the game than watching football on TV. As we’ve seen the popularity of FIFA as an eSport rise, we’ve been looking for a way to introduce it to our audience and we see “Goal Vs” as the perfect way to do so.”The series will kick off on May 24th and will be shared across the official social media accounts from each of the participating football clubs. McIntyre will be shown playing against Christopher “NYC_Chris” Holly in the very first episode.“City Football Group’s eSports players are some of the best in the world and working with them on the first four episodes makes perfect sense, aligning with Goal’s strategy to focus on the biggest teams, players and competitions in the world,” added Rayment.Goal Vs will have both Richard Buckley and Brandon Smith, two well-known figures from the FIFA community, commentating over the action.Esports Insider says: This is an interesting subject matter for a series, and will undoubtedly provide some extra exposure for Goal’s FIFA player, McIntyre. Getting the City Football Group to not only participate but to share the series, will help with viewership too. Overall, it seems like a good move from Goal.last_img read more

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NASCAR All-Star Race format: Explaining the stages, choose cone rule & other changes for 2020

first_imgVery little about Wednesday night’s NASCAR Cup Series event will resemble what fans have come to know as a traditional All-Star Race. Yes, NASCAR likes to use the annual non-points race as an opportunity to experiment with new formats, rules and procedures, but never has the NASCAR All-Star Race experienced so much change for a given year.Arguably the most significant change for the 2020 NASCAR All-Star Race is the location, as Bristol Motor Speedway is hosting the event for the first time in its 36-year history. Only one NASCAR All-Star Race (Atlanta in 1986) has been held somewhere other than Charlotte Motor Speedway. All of the cars that are locked into the NASCAR All-Star Race will have underglow lights at Bristol. Here is a look at Kurt Busch with them during the burnouts in Nashville: #nascar ⁦@NASCARONFOX⁩ pic.twitter.com/8YxldXcglU— Bob Pockrass (@bobpockrass) July 9, 2020According to a report from automotive writer Bozi Tatarevic, Fords will feature blue underbody glow. Toyota underbody glow will be red, and Chevy underbody glow will be amber. The report also noted “LED strips will be mounted in a rectangular fashion around the fuel cell area and will illuminate the underside of the rear of the car.”These strips are fairly thin and light and will not impact the performance of the cars in any fashion,” Tatarevic wrote. “The complete light assembly is set to weigh less than 6 ounces and pull a small amount of current.”Similar underglow lights were used by Chip Ganassi Racing on its cars during the Burnouts on Broadway event in Nashville as part of 2019 Champion’s week. In line with the qualifying format NASCAR has used for the All-Star Race in all but its first year, the main event, scheduled to start at 8:30 p.m. ET on FS1, technically is one of two races Wednesday night. The Open, a qualifying race for the drivers who are not guaranteed starting spots for the All-Star Race, is scheduled to start at 7 p.m. ET and set three of the last four positions for the main event. The winner of a fan vote will be given the 20th and final position in the All-Star Race lineup.That procedure is nothing new, though. What is new for the 2020 NASCAR All-Star Race, beyond the modified date and location because of the COVID-19 pandemic, is a choose cone rule and a new look for the Cup Series cars in the field.Below is a breakdown of the format and rules for the 2020 NASCAR All-Star Race at Bristol, including the new procedures and paint schemes.MORE: Starting lineup for the 2020 All-Star RaceNASCAR All-Star Race formatPer usual, the NASCAR All-Star Race field is made up of recent points race winners, former All-Star Race winners and full-time drivers who have won Cup Series champions. Below is the official language on who is eligible to compete in the All-Star Race.Drivers who won a points event in either 2019 or 2020Drivers who won a NASCAR All-Star Race and compete full-timeDrivers who won a NASCAR Cup Series championship and compete full timeDrivers who don’t meet any of the above criteria must race their way into the All-Star Race via the Open, a three-stage sprint that at Bristol consists of two 35-lap segments and a 15-lap shootout at the end. The winner of each stage in the Open advances to the rear of the All-Star Race field.In addition, the winner of a fan vote will get the 20th and final starting spot in the All-Star Race. If the fan vote winner earns a spot in the main event via the Open, the driver with the second-most fan votes will get the last All-Star Race spot, and so on.The NASCAR All-Star Race payout is $1 million, and no championship points are awarded. From a technical aspect, the Cup cars will run the same short track package used at Bristol and Martinsville earlier this season.NASCAR All-Star Race stage lengthsRaceStage lengthsThe Open35 laps | 35 laps | 15 lapsAll-Star Race55 laps | 35 laps | 35 laps | 15 lapsBecause Bristol Motor Speedway is a half-mile oval as opposed to the 1.5-mile Charlotte Motor Speedway, the stage lengths for the 2020 NASCAR All-Star Race are longer than usual.Last year’s All-Star Race at Charlotte, for example, featured stage lengths of 30 laps, 20 laps, 20 laps and 15 laps for a total of 85. This year’s event at Bristol will run a total of 140 laps but is still split into four stages.Both green flag and yellow flag laps will count in Stages 1-3, with only green flag laps counting in the last stage. In the final stage, if the race is restarted with two or fewer laps remaining, there will be unlimited attempts at a green-white-checkered finish under green flag conditions.Choose cone ruleDrivers and fans for years have pushed for a choose cone rule in NASCAR. They finally get it for the All-Star Race at Bristol, as if restarts Wednesday night were not going to be interesting enough.Commonly implemented at non-NASCAR short track races around the country, the choose cone rule — NASCAR is simply calling it the “choose rule” since there won’t be a literal cone on the track — is simple. Rather than just the leader, all drivers are able to choose their lanes for all restarts.As drivers approach a designated spot on the track, they will have to commit to the inside or outside lane for the restart. One they pick a lane, they have to stick with it, or they will lose their position.The choose cone rule should eliminate some shenanigans on pit road where drivers try to jostle for position based on the lane in which they want to restart.“There has already been an incredible amount of buzz around this year’s NASCAR All-Star Race with the move to Bristol Motor Speedway,” said Steve O’Donnell, NASCAR executive vice president and chief racing development officer. “The choose rule is going to add another dynamic to the race. Drivers and fans have been asking for this change, and I can’t think of a better time to try it than the All-Star Race.”Said driver Austin Dillon in May when he was advocating for a choose cone rule in NASCAR: “Dirt track, asphalt, you name it. You see it on a weekly basis at places that, heck, when I was Legends car racing at 14 with no radios, you could figure out how to make the choose cone work.”You just chose and that was your line you had to make. This puts it in the driver’s hands. It kind of allows us to decide our fate when it comes down to restarts.”Paint schemes, number placementThis one’s pretty simple. Because race teams have requested the chance to “use newfound prime real estate for sponsorship integrations,” as NASCAR put it, a new paint scheme concept is being used for the All-Star Race as a (for now) one-time only experiment.The car numbers on the side panels of the cars are simply pushed back toward the rear wheels to make room for the additional ad space. Below are some examples of the new paint schemes being used for the 2020 NASCAR All-Star Race.We can’t wait for a Wednesday race under the lights at @BMSupdates! 🏁#NASCAR pic.twitter.com/LhCNoTJXVd— Team Penske (@Team_Penske) July 13, 2020NASCAR IS HEATING UP! Catch Chase Elliott behind the wheel of an all-new No. 9 UniFirst Chevrolet, with a hot new paint scheme created just for the All-Star race at Bristol. Wednesday, July 15 at 8:30 p.m. EST on Fox Sports 1 (FS1). @TeamHendrick @Hendrick9Team @chaseelliott pic.twitter.com/YjaxweR5bG— UniFirst (@UniFirst_Corp) July 14, 2020The @allyracing machine is getting geared up for Wednesday’s #AllStarRace. 🤩 pic.twitter.com/3UwkEBteQb— Hendrick Motorsports (@TeamHendrick) July 14, 2020🎶 Hey now, you’re an All-Star! 🎶 Two are in. Two are hoping to secure a spot. What are your predictions for the #AllStarRace at @BMSupdates?Show your support for @ClintBowyer and @Aric_Almirola in the fan vote today!https://t.co/hFzM13HTyC pic.twitter.com/6oiPi9HMyH— Stewart-Haas Racing (@StewartHaasRcng) July 14, 2020To the right, To the right… Check out our paint schemes for Wednesday night’s #NASCAR All-Race @BMSupdates! @FedEx | @BassProShops | @mmschocolate | @craftsman pic.twitter.com/nfW9pij5JJ— Joe Gibbs Racing (@JoeGibbsRacing) July 13, 2020The @mmschocolate #Camry is ready for the #NASCAR All-Star race @BMSupdates !Can @KyleBusch take his No. 18 machine to victory lane? #TeamToyota pic.twitter.com/TIsImuDZlR— Joe Gibbs Racing (@JoeGibbsRacing) July 14, 2020NASCAR says it will accept feedback from teams sponsors and fans after the All-Star Race before it weighs potential changes for the future.Underbody glow lightsAlso simple but just as aesthetically interesting as the new paint schemes, the 16 cars that automatically qualified for the 2020 All-Star Race will feature glow lights under their cars. (The teams that qualify for the All-Star Race via the Open and the fan vote won’t have enough time to install the lights under their cars.)last_img read more

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