Tuesday, October 30, 2012

Possible Reasons behind loan rejection!

Loans are the useful fund and become valuable at the dearth financial situation when you need to finance your business or personal needs. You might be alert of several possible reasons a bank may reject your loan application. Applying for a loan involves preparation on different fronts. You are required to update your credit score such as ensuring close-out existing loans or credible loan track, proper payment of credit cards, proper tracking of other existing loans on property or assets, good income tax report and sound salary figure with healthy bank statement. These are the basics and prerequisites of the loan preparation as well as approval.

However, there are several other bold factors that can lead to your loan application rejection!

The first and foremost reason is your inconsistency in a particular job. This is the prime reason behind loan denial by banks. If you are not consistent in a job for more than six months then many banks consider your case as a weak loan application. Now days it is a common practice to switch jobs from one organization to other to gain a salary hike or get rid of job pressure or for a change. Banks pay considerable attention on job stability. So better to stick with a good organization as it hampers your credit worthiness and also you can avail prepayments by your employer at critical times.

Your profile is negative or not in line with the internal policies of bank may be the next reason. Every bank has its own internal policies and guidelines and they define credit profiles or geographical regions according to their policies as negative for loan. If you fall under this radar then the banking institutions will not lend you loan. Though there is an escaping space as your profile considered as negative by one bank may not be negative for rest banks. Also, one can present additional documents as security such as fixed deposits, insurance policies or other securities.

Apart from these, rest reasons are falling of your residential address in the bank's defaulter zone, loan application for an old or disputed property or your loan application has been rejected before. But you can avail loan even if you are under these loan rejection radars by providing valid and convincing proofs against those reasons to the bank. It is better to approach a bank, for loan purpose, which is near your residence or the bank where your salary is deposited. Banks are ready to address your valid reason for loan application and latterly awarding you with loan approval.

Thursday, October 25, 2012

Good Looking Marketing Flyers Are A Key Tool For Today's Real Estate Agent

With many types of word and photo processing programs available to busy real estate agents, what are the qualities that make some better than others? Today's agents need the ability to produce high quality, picture incorporated marketing flyers to keep up with what is a rapidly changing housing environment. In an industry dominated by desperate sellers, home builders with surplus inventory, and banks which have a growing number of foreclosures, real estate agents who have the ability to sell and are equipped with the proper tools to sell are in very high demand. The housing market we all know is very challenged with a record number of over-built single-family homes covering the U.S.

The opportunity for sales agents to earn big commissions is as good as it's been in a long while. You may say that there's too much competition in the industry, and while perhaps true, the better agents not only have a wide variety of inventory selections to market, but they also have a large array of potential clients to represent. Today's real estate agent has the luxury to pick and choose from quite a number of potential listings. They can take as many or as few listings based on how many hours that they want to commit to. Good tools are a necessity in maximizing the efficiency of time allotted to an agent's busy schedule.

The most basic of tools, aside from a "for sale" sign in the front yard, is a well-written, quality produced marketing flyer displaying the best photography and copy layout. While anyone can put a generic 18" x 24" for sale sign in a front yard, the next requirement for collateral material is a great looking sales flyer. An agent can use a traditional word and photo processing program or a specifically, industry-designed program written by a real estate agent, for a real estate agent. A program offering good templates which are user-friendly and have the flexibility to quickly update the format is just what the doctor ordered for a rapidly changing home sales market. For the constantly on-the-go professional, software that allows the user to burn-to-disc and use multiple computers is also a necessity.

After all, a well thought-out and produced marketing flyer can be the difference between making a sale or not making a sale and selling a home at 75% of asking price versus 105% percent of asking price. Arm yourself with the best possible tools to make you efficient and successful.

Thursday, October 18, 2012

How Credit Metrics Improve The Scorecards

In a world where credit is the most readily available option to obtain financial resource whether it is for personal or business capital purposes, credit metric systems are very much useful. Also called credit scorecards, these systems use quantitative measurement indicators called credit metrics or credit risk metrics. The purpose of these systems is to identify the probability of an organization or individual to pay his obligation on time and to present a clear status of a customer's present and past credit standing. But how does credit risk metrics help lenders?

The process of obtaining historical data from a database of client records and corresponding load defaults is commonly called credit scoring. This observation is then processed, analyzed, and presented as a meaningful information. Based on the customer's historical data, the credit score system will then rank the client by order of credit risk but not necessarily pointing out the probability for default.

It may sound easy on the surface, but in reality though the process of measuring the credit riskiness of a borrower is an arduous and often challenging task to do. The reason behind is that credit risk is a tricky to model if it be compared with market risk. Primarily, there is a shortage of liquid market that contributes to the unfeasibility of pricing credit risk for a specific tenor or obligor. Secondly, the probabilities of true default are obtained ambiguously. In some cases, it can be determined through analysis of a default rate resulting from a process of subjective credit approval. And in other cases, true default probabilities can be drawn by assuming default rates according to the recorded historical experience.

The third reason why credit risk is hard to model is that there is a big challenge in measuring or observing the default correlations thus making it difficult to combine credit risk.

Credit risk metrics comes into play by minimizing these challenges. Among the most commonly used indicators in credit scorecards are capital adequacy, gross debt service, customer credit quality, customer perspective, and company perspective. All of these metrics focus on modeling credit risk rather than trying to find out if a client is worthy to be granted a credit.

Because of the emergence of these metrics, credit scorecards today have become smarter and more useful. There are now new approaches to measuring credit riskiness such as reduced form credit models, logistic regression, and hazard rate modeling. These approaches only differ in their database structures and their capacity to calculate the financial vale of the loan, provided that the risk level is known from the credit point of view.

The database of these systems is stored with every client detail, from defaulted loans to unpaid dues, which literally makes it easy for lenders to determine the products of macro-economic elements like stock prices, interest rates, and auto prices.

A credit risk scorecard is very simple to use. After the appropriate metrics are identified, the latest company accounts are then encoded. The system will then compute the financial ratios based on factors like stock turn, trade debtors, and net profit rate. Credit metrics indeed have helped improve the way lenders evaluate borrowers.

Tuesday, October 16, 2012

Resume Summary - Why Your Resume Must Include A Summary Section

A summary statement on a resume is pretty much what the name implies; a thumbnail sketch of the particular skills, strengths and accomplishments that make you the perfect fit for the job in question. The resume summary is your advertising pitch to the reader. Short on details, it is a teasing list of assertions of what you can do and what you can offer the company. The actual data backing up those assertions is implied to be found throughout the balance of the resume. The job of the summary is to coax the reader into exploring that balance, with a predisposition that the qualifications for the job have already been met.

The importance of such a summary statement can't be overstated. If your resume summary doesn't grab the reader, address his needs and pique his interest in reading further, all hope is lost.

Location of the Resume Summary

If your resume has an objective statement, locate the summary directly beneath the objective. If you elect to forgo the objective, the summary will be the first section on the resume, just beneath your name and contact information.

Should a Resume Summary Take The Place of the Objective?

Opinions are divided. Some career experts will tell you that the objective is old school and a liability on a contemporary resume. Others will tell you that nothing focuses a resume like a clear objective statement. I think it remains advisable to use an objective, if 1) you know the position you're applying for, and you insert that position title into your objective, 2) you have an overly diverse work background that doesn't lend itself to a natural focus, or 3) you're changing careers, or entering the job market for the first time.

If you don't use an objective, your summary will need to be crafted to include the element of focus that would have otherwise fallen to the objective.

Example of a Resume Summary used WITH an Objective Statement


Dedicated professional with a B.S. in Occupational Therapy and over nine years of O.T. experience in diverse clinical settings including hospital, home health, mental health, and skilled nursing/long-term care facilities.
1. Particular strengths in identifying individual needs, formulating practical solutions to those needs, and coordinating therapeutic activities with other health care disciplines to maximize patient benefits.
2. Implemented "Claudia Allen" therapeutic approach in a nursing home setting.
3. Perceptive listener with excellent interpersonal and communication skills.
Example of a Resume Summary used WITHOUT an Objective Statement

Occupational Therapist delivering excellent patient relations skills and demonstrated technical/therapeutic proficiency from over nine years of diverse O.T. clinical experience in hospital, home health, mental health, and skilled nursing/long-term care facilities.
1. Particular strengths in identifying individual needs, formulating practical solutions to those needs, and coordinating therapeutic activities with other health care disciplines to maximize patient benefits.
2. Implemented "Claudia Allen" therapeutic approach in a nursing home setting.
3. B.S. in Occupational Therapy.
The resume summary typically focuses on three to five skills or competencies that have been culled from resume and represent the best arguments as to why you are a perfect match for the job in question. And by the way, the summary section can go by a number of names: Profile, Summary, Summary of Qualifications, Career Summary, Accomplishments Profile, Etc.

Call it what you will. But whatever you chose to call it, make it a part of your resume... or plan to spend a lot of time with your shoes shined and nowhere to go, wondering if your phone still works.

Tuesday, October 2, 2012

Advantages and Disadvantages of Obtaining Bad Credit Loans

There are enough reasons to need money as their enough things that can be bought with money. However, the sad tale is that not everybody has access readily available virtually unlimited funds. Thus, for times when there is not enough money on ground the usual solution is to get a loan. The loan can be from friends and family, or from a bank. However, for people that have a poor credit rating securing a bank loan may be impossible. Thus, bad credit loans are available for those with a poor or bad credit rating.

Traditional financial institutions do not usually offer these kinds of loans. They are usually available from alternative financial houses. These alternative financial houses include, moneylenders, hard moneylenders among others.

Without much ado, there are always two sides to a coin. This also holds true for this kind of loan facility. It has some obvious advantages and disadvantages.

One of the major advantages is that this loan is available to all applicants without any credit check. The good thing about it is that the officials of the lending house know that the applicant invariably has a poor financial rating; otherwise, there is no reason to apply for the loan. Hence, there is no reason to make the applicant go through potentially embarrassing situations by conducting a check.

Another major advantage is that there are usually no or minimal fees in the application process. More often than not, all the application requires is a walk in into the center to fill the application form. In fact, some lending houses have a website where the people can download and fill the application form. Most of the forms are usually filled in less than five minutes.

One of the advantages that cannot but be mentioned is the fact the loan is usually approved within a short period. The waiting period at banks is drastically reduced if not eliminated. More often then not, the loan is approved within forty-eight hours. In fact, some lending houses make a decision within the hour of submitting the application.

Another benefit is that the loan is usually approved. The fact remains that no matter the rating of the applicant, there are greater chances of securing the loan from these alternative financial options. It is only in extreme cases that an applicant is turned down for a loan.

In addition, money is lent to the applicant without asking for any collateral. Most of the time, the only requirement is that the applicant show a proof of employment. Thus, there is no need to pawn of jewelries and family heirlooms all because extra cash is needed.

However, the major disadvantage is often the high interest rate that the lender charges. The interest rate could be as high as thirty percent in some instances. Yet, when one considers the fact the ease of obtaining the funds may cause borrowers to default, the high interest rate seems justifiable.

Hence, an objective observer will note that the advantages far outweigh the disadvantages. Thus, when there is a need for extra cash and payday is far away, bad credit loans can save the day. More so, they are good for seeing business deals through especially when speed of business is necessary.

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Are you looking for bankruptcy loans? There are many options available for people with bad credit, no credit, bankrupt. Check your local directory or look online. Make sure that you consult the right company.