Debt – Heiki http://heiki.org/ Fri, 23 Apr 2021 11:22:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 https://heiki.org/wp-content/uploads/2021/04/cropped-icon-32x32.png Debt – Heiki http://heiki.org/ 32 32 Premier Mortgage Resources Loan Officers List Top Originators 2021 Awards | national news https://heiki.org/premier-mortgage-resources-loan-officers-list-top-originators-2021-awards-national-news/ https://heiki.org/premier-mortgage-resources-loan-officers-list-top-originators-2021-awards-national-news/#respond Wed, 07 Apr 2021 23:13:41 +0000 https://heiki.org/premier-mortgage-resources-loan-officers-list-top-originators-2021-awards-national-news/ A total of 25 PMR loan officers made the list. “It is an honor to work with the talented loan officers that we have on our team, and it is a testament to their dedication during a very eventful year that they have earned these honors,” said Cory swain, Managing Partner of PMR. In Scotsman […]]]>


A total of 25 PMR loan officers made the list.

“It is an honor to work with the talented loan officers that we have on our team, and it is a testament to their dedication during a very eventful year that they have earned these honors,” said Cory swain, Managing Partner of PMR.

In Scotsman Guide, the 25 recognized PMR loan officers are:

  • Brent White | NMLS 149554 | Top Dollar Volume 2021 | Most loans closed in 2021
  • Brian Giovacchini | NMLS 116393 | Top Dollar Volume 2021 | Most loans closed in 2021
  • Cameron Lillibridge | NMLS 132195 | Top Dollar Volume 2021 | Most loans closed in 2021
  • Char Ruppel | NMLS 99445 | Top Dollar Volume 2021 | Most Closed Loans 2021
  • Crystal smith | NMLS 1228198 | Most Closed Loans 2021
  • Curtis Mangus | NMLS 9752 | Most loans closed in 2021
  • Danny salas | NMLS 232306 | Top Dollar Volume 2021 | Most loans closed in 2021
  • David Baker | NMLS 91585 | Most Closed Loans 2021
  • David Bardin | NMLS 136664 | Most loans closed in 2021
  • David Nishimura | NMLS 440356 | Most Closed Loans 2021
  • Doug schreifels | NMLS 104060 | Top Dollar Volume 2021 | Most loans closed in 2021
  • Jacy Pool | NMLS 1456505 | Most Closed Loans 2021
  • Jonathan matich | NMLS 75328 | Top Dollar Volume 2021 | Most loans closed in 2021
  • Karen lindgren | NMLS 351216 | Most Closed Loans 2021
  • Kiel Lillibridge | NMLS 190593 | Top Dollar Volume 2021 | Most Closed Loans 2021
  • Lane lowry | NMLS 1658229 | Top Dollar Volume 2021 | Most loans closed in 2021
  • Lisa Cardoza | NMLS 389926 | Top Dollar Volume 2021 | Most loans closed in 2021
  • Lorne Harvey | NMLS 227839 | Most Closed Loans 2021
  • Mandi feely | NMLS 38490 | Top Dollar Volume 2021 | Most Closed Loans 2021
  • Marety Jaro | NMLS 5604 | Top Dollar Volume 2021 | Most Closed Loans 2021
  • Mark Feller | NMLS 5210 | Most Closed Loans 2021
  • Matt Riener | NMLS 42311 | Most Closed Loans 2021
  • Paul Marrs | NMLS 5212 | Most Closed Loans 2021
  • Sabrina nelke | NMLS 1443529 | Most Closed Loans 2021
  • Shawn parker | NMLS 327268 | Most Closed Loans 2021

In addition to the above ranking, we are proud that Mandi feely, NMLS 38490, was recognized by Scotsman Guide as the second largest producer (units sold) in the state of Idaho, and the best producer in the state of Idaho.

What makes this achievement even more special is that Ms. Feely’s team is made up of all-female designers who work as a unit to effectively close loans for their clients.

PMR provides its loan officers with the resources they need to earn such rewards through fast, accurate and efficient underwriting, financing and closing. PMR takes pride in leveraging efficiency with highly skilled and well-staffed services focused on providing out-of-the-box solutions to speed up the lending process. And because PMR is big enough to get the job done, but small enough to care about each of its loan officers, it is able to offer great accessibility to high-level management as well as a level of transparency that you do not. don’t see many mortgage companies.

“Whether it’s our technology or how our loan officers and operations teams communicate, we deliver what we need to get the job done quickly and efficiently for our clients. At PMR, we are a family that makes the dream of family ownership come true. across the country, ”Swain said. “As we move into 2021, I know our loan officers are well equipped to continue to be successful with a focus on buying.”

About Premier Mortgage Resources

Premier Mortgage Resources (PMR) has been helping clients realize the dream of homeownership since 1991. With 34 licensed establishments west of the Mississippi and staffed with over 150 loan officers, the company offers a full menu of mortgage products and is delegated to underwrite conventional, FHA, VA, USDA and several government bond programs. PMR has branches in seven states (Washington, Oregon, California, Idaho, Nevada, Minnesota and Hawaii). For more information visit pmrloans.com.

SOURCE Premier Mortgage Resources



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Status Money 2021 review • Pros, cons and more • Benzinga https://heiki.org/status-money-2021-review-pros-cons-and-more-benzinga/ https://heiki.org/status-money-2021-review-pros-cons-and-more-benzinga/#respond Wed, 07 Apr 2021 23:13:41 +0000 https://heiki.org/status-money-2021-review-pros-cons-and-more-benzinga/ You’ve probably wondered how your emergency fund, debt level, progress towards financial milestones, and overall financial health compare to your peers. Unfortunately, you may rarely share this information, even with your close friends and family, which can make it difficult to assess whether you’ve set the right goals, like owning your own home or saving […]]]>


You’ve probably wondered how your emergency fund, debt level, progress towards financial milestones, and overall financial health compare to your peers. Unfortunately, you may rarely share this information, even with your close friends and family, which can make it difficult to assess whether you’ve set the right goals, like owning your own home or saving for your own. retirement.

Status money offers a unique money management platform that allows you to anonymously compare their finances to those of their peer group members, as well as additional investment and savings services. Benzinga’s Status Money review will help you learn more about what sets this app apart from the competition and help you decide if Status makes sense for your money management needs.

If you’ve used a budgeting or financial planning app before, you might already understand most of the services that Status Money offers. Some of our favorite services that Status Money currently offers include:

  • Financial comparisons: If you’ve just started saving for retirement or you’ve put money in an investment account for years, you’ve probably wondered how your holdings compare to savers your age. Status Money allows you to compare your saving, investing and spending habits anonymously with other users in your peer group and also compares it to national averages. The averages are always completely anonymous and the projections you see are happening through partnerships and panels with large financial institutions.

Wondering how your spending compares to people your age? Status Money allows you to anonymously compare your habits to national averages and spending by your peer group.

  • Social savings tools: You don’t have to be alone to plan for retirement, save for your first home, or pay off debt with Status Money. In addition to projection tools and tracking features, Status Money also offers social investing and savings features that allow you to connect anonymously with other platform users. Ask for tips and earn badges for participating in the community.

Status Money doesn’t just help you project your future net worth and plan ahead. You can also easily and anonymously ask for advice and help others with the platform’s Social Trading features.

  • Free credit score monitoring: Tracking your credit score remains an important part of balancing your finances and achieving your future financial goals. Status Money allows you to track your credit score for free and you can also activate alerts that notify you whenever a new item is added to your credit report.
  • Personalized recommendations and cash rewards: Status Money’s algorithms analyze your spending, interest rates, and fees you regularly pay on your accounts. The platform then recommends low-interest options to help you pay less for the cards and services you need. You’ll also earn cash rewards when you follow recommendations or when friends join the platform. You can claim as many rewards as you want just for saving and inviting friends to save.

Unlike some other budgeting apps, you don’t need to subscribe to a paid Status Money account to use the platform’s services. Status Money offers basic free features (including calculating net worth, credit monitoring, and social community features). The company makes money by providing you with sponsored offers, analyzing your spending and serving ads. For example, if Status Money has an advertising partnership with a credit card that offers lower interest rates for users like you, it offers you an ad for its partner card.

If you want to unlock advanced features of Status Money, you can also join Status Money Premium. Status Money Premium allows you to benefit from:

  • Advanced mapping: Status Money Premium accounts include advanced graphical options that allow you to better visualize spending and saving habits.
  • Individual coaching: Status Money Premium users can chat one-on-one with a financial planner once a month via video. It can help you stay on track to achieve the goals you set for yourself.
  • More customization features: Do you think your auto-generated peer group doesn’t exactly match your lifestyle? Premium users can further customize their peer group and comparison features.
  • Credit Report Updates: Premium users can access their full credit report on a weekly basis directly through their Status Money platform.

Status Money Premium costs $ 10 per month when you choose monthly billing and $ 96 per year when you choose a single annual payment. Premium subscription with an annual plan saves you 20%.

Status Money currently offers 1 method that you can use to get in touch with its customer service team – via email. To contact the Status Money customer service team by email, send a message detailing the issue to support@statusmoney.com. For the fastest possible response, use the email account you used to sign up for your Status Money account.

We would like to see Status Money continue to expand its customer service options to include services such as live chat and phone support.

Status Money’s financial app mimics all of the office functionality. Track your investments, access social trading features and even manage your rewards with Status’s intuitive mobile interface. You can also enable two-factor authentication to secure your account when you access Status Money through public WiFi.

Status Money has taken steps to ensure that (even when using the mobile platform) your data remains secure. The app uses 256-bit encryption to keep data out of the hands of hackers, which is the highest level of convenient encryption that can be used for everyday use. It offers the same services as the desktop platform and a fully synchronized system so that you can switch from your computer to your mobile device seamlessly and securely at any time.

With a quick signup process, unique tools you can use to benchmark your finances against your peers, and a simple, straightforward platform that transfers easily to mobile, Status Money offers a great option if you want to better track your value. net and your budget. You can also access affordable one-on-one coaching and advanced services through Status Money for less than $ 10 per month with an annual plan. While we would love to see the company continue to expand their offerings and customer service options, Status Money remains a low cost option for fund managers.

Status Money vs Competitors

Status money offers a few unique advantages over its competition, including:

  • Financial comparisons: Status Money allows you to anonymously compare your finances with those of your peers to ensure you stay on track to achieve your goals.
  • Social investment features: Login anonymously, give and get advice, and earn badges throughout Status Money’s social investor community.
  • Affordable one-on-one sessions with financial planners: Some companies charge hundreds or even thousands of dollars to meet with a financial planner. With Status Money Premium, you can video chat with a certified financial planner once a month to help keep you on track to achieving your goals.

Frequently Asked Questions

Is Status Money available outside of the United States?

1

Is Status Money available outside of the United States?

request

Sarah horvath

1

No, you can only use Status Money in the United States.

answered

Benzinga

Do I have to link my credit report to use Status Money?

1

Do I have to link my credit report to use Status Money?

request

Sarah horvath

1

No, associating your credit report is optional and you do not need to link your bank account information to open your account with Status. However, the company recommends that you link this information for the best possible user experience.

answered

Benzinga



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Wanted: fair access to credit to create wealth https://heiki.org/wanted-fair-access-to-credit-to-create-wealth/ https://heiki.org/wanted-fair-access-to-credit-to-create-wealth/#respond Wed, 07 Apr 2021 23:13:41 +0000 https://heiki.org/wanted-fair-access-to-credit-to-create-wealth/ Over the past year, the COVID-19 pandemic has imposed a double crisis. More than 542,000 American lives have been lost and the toll continues to rise. At the same time, the ripple effects of a massive economic recession caused the country to lose 9.5 million jobs – more losses than even those of the Great […]]]>


Over the past year, the COVID-19 pandemic has imposed a double crisis. More than 542,000 American lives have been lost and the toll continues to rise. At the same time, the ripple effects of a massive economic recession caused the country to lose 9.5 million jobs – more losses than even those of the Great Recession, according to the Carsey School of Public Policy of the University of New Hampshire.

Although many officials have called for a “return to normalcy,” millions of small businesses and communities are in need of something new instead. In black America in particular, the “old standard” never provided equitable access to the wealth creation opportunities that have served much of white America. Instead, a long history of public policies designed to create and maintain a thriving middle class has systematically excluded blacks and other people of color.

Now, as federal lawmakers seek to understand how best to pull the nation out of these health and financial crises, many advocates are calling for a new paradigm – the intentional inclusion of all who have been excluded, overthrown and underserved. Recent testimony before Capitol Hill committees focused on different issues, but led to the same conclusion: the time for change has come.

For example, during a confirmation hearing in February for Adewale Adeyemo, appointed by President Biden to become Assistant Secretary of the Treasury, the candidate said: “Until we get the pandemic under control, economic policy must remain focused on assisting those affected by the public health crisis, especially those disproportionately affected: low-income communities and communities of color. The pandemic has exacerbated inequalities, strained families and exposed disparities of opportunity across our country that existed long before COVID-19. Without further relief, these difficulties will become even more acute and inflict lasting suffering on countless Americans.

Adeyemo is the agency’s resource person for implementing the decree requiring all federal offices to submit diversity and inclusion plans to the Office of Management and Budget. Prior to her appointment, Treasury Secretary Janet Yellen, as reported by The New York Times, announced plans to invest $ 9 billion in community development finance institutions and minority depositories with the aim of increase loans.

Meanwhile, the U.S. House of Representatives Financial Services Committee convened several hearings that included expert testimony echoing Mr. Adeyemo’s appeals.

On March 10, Committee of the Whole held a hearing titled “Justice for All: Achieving Racial Equity Through Equitable Access to Housing and Financial Services”.

Opening remarks by Representative Maxine Waters, California Congressman and Committee Chair, set the tone for the forum.

“Today we are here to discuss the steps this committee can take to achieve justice and achieve racial equity through access to equitable housing and financial services. … And no matter where you are – and who you are – in America or in the world, institutional racism based on skin color creates barriers that impact social and economic outcomes, ”Waters noted.

Testifying on behalf of the Center for Responsible Lending, Nikitra Bailey, Executive Vice President of CRLs, recounted the legacy of federal housing policies the sum of which has created today’s financial inequalities.

A 1933 federal housing program, the Home Owners Loan Corporation (HOLC), supported redlining through its underwriting guidelines. As a result, black communities and other communities of color have been denied access to general funding. In the first 35 years of this program, only 2% of FHA insured mortgages went to blacks and other buyers of color.

Likewise, the 1944 GI Bill continued the same systemic discrimination. In Mississippi, for example, the 3,329 mortgages approved by the VA included only two black members.

Fast forward to newer times. In the early 2000s, half of all mortgages made to black and Latin families in the run-up to the foreclosure crisis were unsustainable subprime loans – although these consumers had credit histories that qualified for cheaper loans. , safer and more responsible.

“As a result of these lending practices,” Bailey testified, “black and Latin American families lost over a trillion dollars in wealth during the crisis. In addition, black homeownership has been the slowest to recover from the Great Recession. In fact, there would be 770,000 more black homeowners if the homeownership rate were to return to its pre-crisis level in 2000 … The racial wealth gap contributes to the fact that in the 46 largest markets in the world. housing the country, a median-income black household could only afford 25 percent of homes on the market last year, compared to 57 percent that a median-income white household could afford. It will take bold and targeted action to reverse these inequalities. “

The next day, a House financial services subcommittee called another hearing. Entitled “Going Through the Cracks: Policy Options to Help American Consumers During the Pandemic,” the session covered access to affordable credit or small business capital, debt collection and stagnant credit, which became inevitable and further complicated the financial disadvantages facing the Color.

“Without a safety net or a cushion to fall back on, people of color are much less able to cope with financial calamities,” said Carla Sanchez Adams, chief counsel at Texas Rio Grande Legal Aid, Inc. “With less money. assets to draw on, people of color are more prone to poverty traps. ”

Sanchez Adams continued, “Debt collection activity increased in 2020, as did the profits of debt collectors. Auto repossessions were common and consumers were left at the mercy of their lenders. Consumers would benefit if all debt-related activity ceased during the pandemic. … Consumers would benefit from a moratorium on negative notification of delinquencies during the pandemic. Scams and frauds have also increased. ”

Speaking on behalf of minority lenders and small businesses, Robert James, President of Carter Development CDE and President of the National The Bankers Association, stressed the importance of small minority-owned businesses and cited the lack of convenient access to traditional banks and the decrease in the number of minority deposit-taking institutions as issues requiring attention and maintenance. correction.

“Small minority-owned businesses are the lifeblood of their communities,” said James. “The 1.1 million small minority-owned businesses before the pandemic employed more than 8.7 million workers and generated more than $ 1 trillion in savings annually.exit c. Women own nearly 300,000, employing 2.4 million workers. Despite their importance, these companies funderlying challenges that make them vulnerable in normal times. ”

But credit terms and a severe shortage of accessible credit, according to Carter, are also lending terms that need to become more inclusive.

At the same time, Carter noted that from 2009 to the second quarter of 2018, nationwide, the number of Minority Depository Institutions (MDIs) increased from 215 to 155. IDMs are also much smaller in assets than the average non-MDI bank.

“Black and Hispanic IDMs have average assets of $ 245 million and $ 2.7 billion, respectively,” Carter said, “compared to an average of $ 3.1 billion for all U.S. banks.”

Ashley Harrington, federal advocacy director for the Center for Responsible Lending, offered federal lawmakers a key recommendation that could give consumers more control over their own financial management.

“Allowing every adult to save and keep at least $ 1,000 per week in salary and $ 12,000 per bank account,” Harrington insisted, “will help families avoid eviction and pay for essential costs like drugs and food. While family savings cannot replace the social safety net, it is essential that families are able to support themselves at a minimum and basic level. These protections are more urgent than ever: recent research has established that an additional 8 million families have fallen into poverty since May 2020. ”

Charlene Crowell is a Principal Investigator at the Center for Responsible Lending.



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ADHERA THERAPEUTICS: MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND OPERATING RESULTS (Form 10-K) https://heiki.org/adhera-therapeutics-management-discussion-and-analysis-of-financial-position-and-operating-results-form-10-k/ https://heiki.org/adhera-therapeutics-management-discussion-and-analysis-of-financial-position-and-operating-results-form-10-k/#respond Wed, 07 Apr 2021 23:13:41 +0000 https://heiki.org/adhera-therapeutics-management-discussion-and-analysis-of-financial-position-and-operating-results-form-10-k/ Overview The following Management's Discussion and Analysis of Financial Condition and Results of Operations is intended to provide information necessary to understand our audited consolidated financial statements for the two-year period ended December 31, 2020 and highlight certain other information which, in the opinion of management, will enhance a reader's understanding of our financial condition, […]]]>


Overview




The following Management's Discussion and Analysis of Financial Condition and
Results of Operations is intended to provide information necessary to understand
our audited consolidated financial statements for the two-year period ended
December 31, 2020 and highlight certain other information which, in the opinion
of management, will enhance a reader's understanding of our financial condition,
changes in financial condition and results of operations. In particular, the
discussion is intended to provide an analysis of significant trends and material
changes in our financial position and the operating results of our business
during the year ended December 31, 2020, as compared to the year ended December
31, 2019. This discussion should be read in conjunction with our consolidated
financial statements for the two-year period ended December 31, 2020 and related
notes included elsewhere in this annual report on Form 10-K. These historical
financial statements may not be indicative of our future performance. This
Management's Discussion and Analysis of Financial Condition and Results of
Operations contains a number of forward-looking statements, all of which are
based on our current expectations and could be affected by the uncertainties and
risks described throughout this filing, particularly in "Item 1A. Risk Factors."



-29-






Corporate Overview



Nature of Business



Adhera Therapeutics, Inc. and its wholly-owned subsidiaries, MDRNA Research,
Inc. ("MDRNA"), Cequent Pharmaceuticals, Inc. ("Cequent"), Atossa Healthcare,
Inc. ("Atossa"), and IThenaPharma, Inc. ("IThena") (collectively "Adhera," the
"Company," "we," "our," or "us"), is an emerging specialty biotech company that,
to the extent that resources and opportunities become available, is
strategically evaluating its focus including a return to a drug discovery and
development company, and a departure from active commercialization and promotion
of hypertension treatment options in the U.S. market.



During 2020, to the extent that resources have been available, we have been
working with our advisors to restructure our company and to identify potential
strategic transactions to enhance the value of our company as such opportunities
arise, including potential transactions and capital raising initiatives
involving the assets relating to our legacy RNA interference programs, as well
as business combination transactions with operating companies. There can be no
assurance that we will be successful at identifying any such transactions, that
we will continue to have sufficient resources to actively attempt to identify
such transactions, or that such transactions will be available upon terms
acceptable to us or at all. If we do not complete any significant strategic
transactions, or raise substantial additional capital, in the immediate future,
it is likely that we will discontinue all operations and seek bankruptcy
protection.



Furthermore, we were evaluating all strategic options to out-license and/or
divest our existing commercial assets, including any assets that we currently
hold relating to Prestalia as well as our DyrctAxess platform, which is designed
to offer enhanced efficiency, control and access to the information necessary to
empower patients, physicians and manufacturers to achieve optimal care. On
January 4, 2021, the Company's licensing agreement for the sale and marketing of
Prestalia in the US was terminated by Servier and all potential out-licensing
activities related to divesting the asset were discontinued.



Background



On November 15, 2016, Adhera entered into an Agreement and Plan of Merger with
IThenaPharma, Inc., a Delaware corporation, IThena Acquisition Corporation, a
Delaware corporation and a wholly-owned subsidiary of IThena ("Merger Sub"), and
a representative of the stockholders of IThena (the "Merger Agreement"),
pursuant to which, among other things, Merger Sub merged with and into IThena,
with IThena surviving as a wholly-owned subsidiary of Adhera (such transaction,
the "Merger"). As a result of the Merger, the former holders of IThena common
stock immediately prior to the completion of the Merger owned approximately 65%
of the issued and outstanding shares of Adhera common stock immediately
following the completion of the Merger.



Adhera was incorporated under the laws of the State of Delaware under the name
Nastech Pharmaceutical Company on September 23, 1983, and IThena was
incorporated under the laws of the State of Delaware on September 3, 2014.
IThena is deemed to be the accounting acquirer in the Merger, and thus the
historical financial statements of IThena will be treated as the historical
financial statements of our company and will be reflected in our quarterly and
annual reports for periods ending after the effective time of the Merger.
Accordingly, beginning with our Annual Report on Form 10-K for the fiscal year
ended December 31, 2016, we started to report the results of IThena and Adhera
and their respective subsidiaries on a consolidated basis.



Subsequent to the Merger, we executed on our strategy to become a commercial
stage pharmaceutical company by acquiring Prestalia from Symplmed
Pharmaceuticals LLC in June 2017. Prestalia is an FDA-approved and marketed
anti-hypertensive drug. Prestalia is an FDC of perindopril arginine, which is an
ACE inhibitor, and amlodipine besylate, which is a calcium-channel blocker and
is indicated as a first line therapy for hypertension control. The acquisition
of Prestalia transitioned our company from a clinical stage company to a
commercial organization. We re-introduced Prestalia into the U.S. market in June
2018, with continued promotion through December 2019, at which time we
terminated our business operations, including the commercialization of
Prestalia.



-30-






Results of Operations


Comparison of the completed year December 31, 2020 at the end of the year December 31, 2019




Net Sales



Net sales was approximately $252,000 for the year ended December 31, 2019 and
represented revenues from the sale of Prestalia®, net of discounts. No net sales
were recorded for the year ended December 31, 2020 due to the termination of our
commercial operations related to the sale of Prestalia® in December 2019.


Cost of Sales



Cost of sales was approximately $409,000 for the year ended December 31, 2019
and represented cost of sales from the sale of Prestalia®. No cost of sales was
recorded for the year ended December 31, 2020 due to the termination of our
commercial operations related to the sale of Prestalia® in December 2019.


Operating Expenses


Operating expenses were $2.0 million for the year ended December 31, 2020, a
decrease of approximately $9.1 million compared to the same period in 2019. The
following table summarizes our operating expenses for the years ended December
31, 2020 and 2019:



                                                                Year Ended
(in thousands)                          December 31, 2020       December 31, 2019         Change
Sales and marketing                    $               839     $             5,260     $      (4,421 )
General and administrative                           1,198                   4,713            (3,515 )


Amortization                                             _                      70               (70 )
Impairment of intangibles and other
assets                                                   _                   1,116            (1,116 )
Total operating expenses               $             2,037     $            11,159     $      (9,122 )




Sales and Marketing



Sales and marketing expenses decreased by approximately $4.4 million, primarily
due to the termination of our commercial operations related to the sale of
Prestalia® in December 2019. Sales and marketing expenses for the year ended
December 31, 2020 were primarily related to regulatory costs incurred for
maintaining the Prestalia® NDA.



General and Administrative


General and administrative expenses decreased by approximately $3.5 million for
the year ended December 31, 2020, as compared to the year ended December 31,
2019, primarily due to the termination of our commercial operations related to
the sale of Prestalia® in December 2019. General and administrative expenses for
the year ended December 31, 2020 were primarily related to personnel related
expenses and other consulting fees incurred to maintain our public company
regulatory obligations.



Amortization Expense



Amortization of intangible assets decreased by approximately $70,000 for the
year ended December 31, 2020 primarily due to the write-off of intangibles in
2019, as a result of our decision to divest assets that no longer align with our
strategic objectives.


Good will and depreciation of intangible assets

The loss on depreciation of $ 1.1 million for the year ended December 31, 2019, was the result of our strategic decision to discontinue the sale, marketing and marketing of Prestalia®.



-31-






Other Expenses



The following table summarizes other expenses for the year December 31, 2020 and
2019:



                                                   Year Ended
                                 December 31,       December 31,        Change
(in thousands)                       2020               2019           Inc/(Dec)
Interest expense                $       (1,336 )   $         (662 )   $       674
Other income                                45                  -             (45 )
Amortization of debt discount             (438 )                -          
  438
Total other expense, net        $       (1,729 )   $         (662 )   $     1,067

Total other net expenses for the year ended December 31, 2020 increased by about $ 1.0 million compared to the year ended December 31, 2019. The increase is primarily attributable to accrued interest, amortization of debt issuance costs and debt discounts, resulting from the issuance of promissory notes in 2020.

Liquidity and capital resources



Working Capital



                                December 31,       December 31,
(in thousands)                      2020               2019           Change
Current assets                 $            1     $          420     $   (419 )
Current liabilities                    14,774             10,307        4,467

Working capital (shortfall) ($ 14,773)($ 9,887)($ 4,886)





Negative working capital as of December 31, 2020 was approximately $14.8 million
as compared to negative working capital of approximately $9.9 million as of
December 31, 2019. As of December 31, 2020, current assets were approximately
$1,000 and related to cash and cash equivalents. As of December 31, 2019,
current assets were approximately $420,000, including approximately $370,000 in
prepaids and other assets, and $50,000 in cash and cash equivalents.



As of December 31, 2020, current liabilities were approximately $14.8 million an
increase of approximately $4.5 million from December 31, 2019 primarily due to
an increase in accounts payable and accrued expenses and dividends of
approximately $2.0 million, an increase of approximately $1.0 million for
issuance of notes payable net of issuance costs, and approximately $1.5 million
in accrued dividends for our Series E and F Preferred stock.



Cash Flows and Liquidity



The following table summarizes cash flows for the year ended December 31, 2020
and 2019:



                                                       Year Ended
                                             December 31,       December 31,
(in thousands)                                   2020               2019

Net cash used in operating activities $ (588) ($ 8,738)
Net cash used in investing activities

                    -                  -
Net cash provided by financing activities              539              4,870
(Decrease)/Increase in cash                 $          (49 )   $       (3,868 )

Net cash used in operating activities

Net cash used in operating activities was approximately $0.6 million during the
year ended December 31, 2020. This was primarily due to a net loss of
approximately $3.8 million, partially offset by changes in operating assets and
liabilities and non-cash charges including approximately $1.7 million of
non-cash interest and the amortization of debt issuance and discount costs
related to our 2020 term loans.



-32-





Net cash used in operating activities was approximately $8.7 million during the
year ended December 31, 2019. This was primarily due to the net loss of
approximately $12.0 million, partially offset by changes in operating assets and
liabilities and non-cash charges including approximately $0.7 million of
interest and the amortization of debt issuance costs related to our term loan.



Net cash used in investing activities

No cash was used or provided by investing activities during the years ended December 31, 2019 or 2020.

Net cash provided by financing activities

Net cash provided by financing activities of approximately $539,000 during the
year ended December 31, 2020 was primarily due to the issuance of approximately
$650,000 in promissory notes off set by debt issuance costs of $114,000.



Net cash provided by financing activities of approximately $4.9 million during
the year ended December 31, 2019 was primarily due to the issuance of
approximately $5.7 million in promissory notes off set by debt issuance costs of
$0.7 million.


We will need to raise additional operating capital in calendar year 2021 in order to maintain our operations, restructure the company and achieve our business plan. Without additional sources of cash and / or the postponement, reduction or elimination of significant planned spending, we may not have the cash resources to continue operating thereafter.



Going Concern



The accompanying consolidated financial statements have been prepared on the
basis that we will continue as a going concern, which contemplates realization
of assets and the satisfaction of liabilities in the normal course of business.
At December 31, 2020, we had a significant accumulated deficit of approximately
$44.6 million and negative working capital of approximately $14.8 million. For
the year ended December 31, 2020, we had a loss from operations of approximately
$2.0 million and negative cash flows from operations. Our operating activities
consume the majority of our cash resources. We have incurred recurring losses
and negative cash flows from operations since inception we have funded our
operating losses through the sale of common stock, preferred stock, warrants to
purchase common stock, convertible notes and secured promissory notes.



In addition, to the extent that we continue our business operations, we
anticipate that we will continue to have negative cash flows from operations, at
least into the near future. However, we cannot be certain that we will be able
to obtain such funds required for our operations at terms acceptable to us or at
all. If we are unable to obtain additional financing in the future, there may be
a negative impact on the financial viability of our company. We plan to increase
working capital by managing our cash flows and expenses, divesting development
assets and raising additional capital through private or public equity or debt
financing. There can be no assurance that such financing or partnerships will be
available on terms which are favorable to our company or at all. While our
management believes that it has a plan to fund ongoing operations, there is no
assurance that its plan will be successfully implemented. Failure to raise
additional capital through one or more financings, divesting development assets
or reducing discretionary spending could have a material adverse effect on our
ability to achieve our intended business objectives. These factors raise
substantial doubt about our ability to continue as a going concern.



Future Financing



We will require substantial additional funds on an immediate basis to continue
our business operations. We have, in the past, raised additional capital to
supplement our commercialization, clinical and pre-clinical development and
operational expenses. We will need to raise additional funds through equity
financing, debt financing, strategic alliances, or other sources, which may
result in significant further dilution in the equity ownership of our shares or
in further encumbrances being placed on our assets. There can be no assurance
that additional financing will be available when needed or, if available, that
it can be obtained on commercially reasonable terms, or that it will be
sufficient for us to successfully engage in any of our planned business
operations, including re-starting the drug development and discovery programs
relating to our legacy RNA interference assets. If we are not able to obtain
additional financing on a timely basis, or generate significant capital from the
out-licensing and/or divestiture of existing assets, we will not be able to meet
our other obligations as they become due and will be forced to scale down or
even cease our operations altogether.



-33-





Off-balance sheet arrangements

From December 31, 2020, we did not have any significant off-balance sheet arrangements, as defined in point 303 (a) (4) (ii) of the SEC SK regulation.

Accounting policies and critical estimates




In preparing the financial statements, we make estimates and assumptions that
have an impact on the assets, liabilities, revenue, and expenses reported. These
estimates can also affect supplemental information disclosed by us, including
information about contingencies, risk, and financial condition. We believe,
given current facts and circumstances, that our estimates and assumptions are
reasonable, adhere to GAAP, and are consistently applied. Inherent in the nature
of an estimate or assumption is the fact that actual results may differ from the
estimates, and estimates may vary as new facts and circumstances arise. Our
significant accounting policies are more fully described in the notes to our
financial statements included herein for the period ended December 31, 2020.



New and recently adopted accounting statements

All new and recently adopted accounting pronouncements are further described in Note 2 to our financial statements included herein for the year ended.
December 31, 2020.

© Edgar Online, source Previews



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Investor expectations for European recovery hit record https://heiki.org/investor-expectations-for-european-recovery-hit-record/ https://heiki.org/investor-expectations-for-european-recovery-hit-record/#respond Wed, 07 Apr 2021 23:13:41 +0000 https://heiki.org/investor-expectations-for-european-recovery-hit-record/ Bloomberg Inflation slows the emergence of bonds and stimulates demand for safe-haven (Bloomberg) – As the global economy rebounds and commodity prices hit multi-year highs, emerging market investors are seeking refuge in the one area that offers protection against inflation fears. Inflicted pain on markets, from Brazil to Russia, debt securities linked to the pace […]]]>


Bloomberg

Inflation slows the emergence of bonds and stimulates demand for safe-haven

(Bloomberg) – As the global economy rebounds and commodity prices hit multi-year highs, emerging market investors are seeking refuge in the one area that offers protection against inflation fears. Inflicted pain on markets, from Brazil to Russia, debt securities linked to the pace of consumer price increases weathered the storm better than their nominal counterparts. . Now, data across the world is showing red flags again. Inflation in the United States in March was higher than estimated, while the CPI also recovered in Peru, Brazil, South Korea and India due to soaring energy and food costs. On Thursday, inflation in Mexico hit the fastest pace in more than three years. Meanwhile, central banks are facing pressure to keep rates low in order to contain the economic fallout from the coronavirus pandemic. “The fastest way for ME policymakers to stimulate the economy is through monetary policy,” said Michael Roche, strategist at Seaport Global Holdings in New York. “This activity reinforces inflation expectations, leading bond investors to seek protection in CPI-linked securities.” Inflation expectations are likely to continue to rise as emerging market central banks take the lead from the Federal Reserve, Roche said. The Fed has indicated that it will continue with its expansionary monetary policy for an extended period. Five-year Treasury ruptures – a measure of bond-based inflation expectations in the world’s largest debt market – climbed to nearly 2.6%, standing near the highest in more than a decade. , with breakeven rates over five years at 4.4% on expectations, the central bank will not be able to contain prices in a context of rising energy costs. Although concerns are strong, inflation accelerated less than expected in March, with underlying pressures remaining subdued for the time being. South Africa’s inflation-linked bonds for 2033 have gained 6.1% so far this year, well outpacing the 1.9% loss in nominal bonds of equivalent maturity. in Brazil are almost as high, with one-year break-even rates climbing to 5.1%, the upper end of the central bank’s target range for 2022, against a backdrop of rising public spending. As a result, Brazilian inflation-linked bonds maturing in 2030 weakened by just 6.8%, even as their fixed-rate counterparts fell 9.6%. In Turkey, the rise in oil prices and a weak currency are expected to fuel soaring consumer costs, even as President Recep Tayyip Erdogan – who has sacked the last central bank chief – is pushing for interest rate cuts. Inflation accelerated to 16.2% in March from 14.6% at the start of the year. Turkish inflation-linked bonds maturing in 2028 have lost 2.1% this year, while nominal benchmarks have plunged almost 21%. potential return of higher consumer prices. Inflation in the North Asian country returned to its pre-pandemic level in March amid rising oil prices and as consumer demand began to recover. Philippine bonds lost 4 , 2% this year in nominal terms while inflation has exceeded 4%, the upper end of the central bank. goal, for three consecutive months due to rising food prices. The risks The strategy involves risks. Edwin Gutierrez, portfolio manager at Aberdeen Asset Management in London, says that while the deal can hold up for about a month, food and fuel prices appear to have peaked. in some big losses, ”Guttierez said. “It’s a bit late for the transaction.” Gennadiy Goldberg, rate strategist at TD Securities in New York, also insists on the need to be vigilant. If inflation doesn’t materialize, “we might see some investors profit from their inflation hedging. and that could lead the movement to reverse ”later this year, he said. For now though, with inflation fears on the rise across the world, investors can still look for hedge. short-term “in inflation-linked bonds,” Goldberg said. “Markets are betting on loose central bank policy, pent-up demand and accelerating growth expectations will create a perfect storm for inflation.” (Updates to include Mexican inflation numbers in third paragraph.) Subscribe now to stay ahead with the most trusted source of business news. © 2021 Bloomberg LP



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Arvest Bank mortgage division receives honor from Fannie Mae https://heiki.org/arvest-bank-mortgage-division-receives-honor-from-fannie-mae/ https://heiki.org/arvest-bank-mortgage-division-receives-honor-from-fannie-mae/#respond Wed, 07 Apr 2021 23:13:41 +0000 https://heiki.org/arvest-bank-mortgage-division-receives-honor-from-fannie-mae/ Arvest Bank’s mortgage division has been awarded the title of Fannie Mae Servicer Total Achievement and Rewards Performer for 2020, according to a press release. “The STAR program is a performance management and recognition program based on a framework consistently applied to clearly define industry standards and leading practices,” he said. Servers are rated on […]]]>


Arvest Bank’s mortgage division has been awarded the title of Fannie Mae Servicer Total Achievement and Rewards Performer for 2020, according to a press release.

“The STAR program is a performance management and recognition program based on a framework consistently applied to clearly define industry standards and leading practices,” he said.

Servers are rated on their performance by managing four key metrics: investor reporting, general services, solution delivery, and schedule management. Each manager’s performance in these metrics is compared to the performance of other Fannie Mae loans with similar credit characteristics.

“We all know that 2020 was unlike any other year in recent memory, with many challenges and opportunities,” said Rodney Bechdoldt, executive director of mortgage lending for the mortgage division of Arvest and Arvest Central Mortgage Company.

“Our mortgage management teams have done an outstanding job in staying focused on our clients and providing them with solutions tailored to their many needs. We are honored to receive this recognition and we are more committed than ever to serving our customers.



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The impact of student debt on thousands of Coloradans https://heiki.org/the-impact-of-student-debt-on-thousands-of-coloradans/ https://heiki.org/the-impact-of-student-debt-on-thousands-of-coloradans/#respond Wed, 07 Apr 2021 23:13:41 +0000 https://heiki.org/the-impact-of-student-debt-on-thousands-of-coloradans/ DENVER – Mel Glenn is more comfortable outdoors. “Love it,” Glenn said. “I love being outside.” Her degree in biology serves her well as she works on ecological restoration and mosquito control. And yet, it is the same degree that causes her daily heartburn. “It’s just kind of a tough struggle to save,” Glenn said. […]]]>


DENVER – Mel Glenn is more comfortable outdoors.

“Love it,” Glenn said. “I love being outside.”

Her degree in biology serves her well as she works on ecological restoration and mosquito control. And yet, it is the same degree that causes her daily heartburn.

“It’s just kind of a tough struggle to save,” Glenn said. “I really can’t save money because of my student loan debt.”

Sometimes she feels like she’s carrying the weight of the world on her shoulders – $ 80,000 in student loans.

“I’ll die with this debt,” said Glenn, a 2013 graduate of Metropolitan State University in Denver. “I’ll never pay for that.”

She is certainly not alone. An estimated 44 million Americans have student loan debt, including 800,000 Coloradans. The nonprofit Brookings Institute estimates total student loan debt at around $ 1.5 trillion in the United States.

“Some even have monthly payments over $ 1,000,” said Andrew Pentis, senior writer and certified student loan advisor at Student Loan Hero by Lending Tree.

But help may be on the way. Congressional leaders and the Biden administration plan to write off large sums of student debt. The sticking point is the amount. Some members of Congress want a loan forgiveness of $ 50,000. President Biden has said he is ready to consider $ 10,000.

“The average Coloradan has about $ 35,000 in student debt,” Pentis said.

Pentis supports all types of relief.

“If you have $ 35,000 in student loan debt and it drops to $ 25,000 overnight, that will also reduce your monthly payment.”

At the university level, financial aid counselors see the same problems.

“I see everyday how finances really are the biggest obstacle to getting a degree,” said Will Simpkins, vice president of student affairs at MSU Denver.

Simpkins says that in the 1980s, state and local government covered two-thirds of tuition fees. Fast forward 40 years, they only cover a third.

“Which means students and their families are feeling that way in their wallets, which means more debt, more loans,” Simpkins said.

Tuition fees at MSU Denver are approximately $ 8,000 per year. Across town, at the University of Denver, it’s about $ 52,000 a year.

“One of our main messages is that the sticker price is not the indicator of the institution’s affordability,” said John Gudvangen, director of financial aid at DU.

Gudvangen, for his part, is not convinced of the forgiveness of student loans. Rather, he and his team are committed to making the UA, a private school, affordable for students by counseling families before they start borrowing.

“How can we give them good advice so as not to borrow too much?” Said Gudvangen. “We take a very careful look at each student’s situation and do our best to make it affordable.”

Despite the AU sticker price, between grants and scholarships, Gudvangen said AU graduate students with relatively low debt – $ 28,000 on average.

“Our students owe a similar amount of debt to students at flagship public institutions in this state,” Gudvangen said.

Gudvangen thinks it’s a manageable amount.

And Pentis does not disagree. He says good advice and guidance is often lacking.

“We have 18 year olds, 19 year olds, 20 year olds making big financial decisions to borrow thousands of dollars and they don’t really understand what kind of burden they will have to bear when they leave. school, ”Pentis said.

While this is true for many, some are now receiving good advice. Valeria Solis, Adrina Trejo, and Katie Sanchez will graduate from Abraham Lincoln High School in Denver in May with two years of college credit, free of charge.

“I’m glad I took this opportunity when I could,” Sanchez said.

“The advantages outweighed the disadvantages of many,” Trejo said.

“I knew that as long as I worked hard and for as long as I wanted, I could do it,” Solis said. “And I had a lot of support.”

The program between Denver Public Schools and Community College of Denver, MSU Denver and CU Denver is called College Success Pathway.

“To help students progress much faster, especially students of color who are socio-economically disadvantaged,” said Emmanuel Garza, post-secondary coordinator at Lincoln High.

Students can receive two years of college credit without incurring debt.

“And help students start thinking about college early,” Garza said. “And know that they can move forward. Even to the point that they can get an associate’s degree for free. “

“All of my credits have been transferred,” said Trejo, who will be heading to the AU next fall.

Job recruiter Chris Specht points out that sometimes an associate’s degree is all you really need.

“This is a path they can take to reduce their debt burden,” Specht said.

Take the example of software engineers. Specht says many employers look for up-to-date certifications and experience, not necessarily a degree.

“A lot of these people, like the last 10 years, can go to code school,” Specht said. “And that’s basically the equivalent of going and getting an associate’s degree. You get two years of schooling just on coding, for example. “

And that brings us back to the forgiveness of student loans. Some, like Godvangen, argue that it should be specific to those who need it most.

“Why not target this relief if funds are limited?” So that no one has to pay more than they can afford. “

Others say they have paid off their debt, so why should 44 million people now receive debt relief?

And still others say general forgiveness could take a dead weight off the economy.

“You’re never going to make everyone happy,” Simpkins said.

“When I hear the argument that we don’t want to give all this money to doctors and lawyers, I say, ‘Just give the money to doctors and lawyers,” Glenn said. “It’s going to do wonders for the whole country, for the whole economy if people can spend money on anything other than interest on loans.”



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Two other former auxiliaries accuse Cuomo of improper conduct https://heiki.org/two-other-former-auxiliaries-accuse-cuomo-of-improper-conduct/ https://heiki.org/two-other-former-auxiliaries-accuse-cuomo-of-improper-conduct/#respond Wed, 07 Apr 2021 23:13:40 +0000 https://heiki.org/two-other-former-auxiliaries-accuse-cuomo-of-improper-conduct/ Topline Two other women who worked as assistants to New York governor Andrew Cuomo (R) accused him of acting inappropriately towards them in the workplace on Monday evening, as the besieged head of state now faces allegations from five different women. New York Governor Andrew Cuomo speaks during the daily press conference at the Governor’s […]]]>


Topline

Two other women who worked as assistants to New York governor Andrew Cuomo (R) accused him of acting inappropriately towards them in the workplace on Monday evening, as the besieged head of state now faces allegations from five different women.

Highlights

Cuomo has repeatedly denied touching or proposing someone inappropriately, but admitted at a press conference last week that he may have unwittingly acted in a way that “made people feel bad. at ease ”.

Joining two other former collaborators who accused Cuomo of inappropriate sexual behavior, Anna Liss, 35, who served as Cuomo’s policy and operations assistant from 2013 to 2015, Told The Wall Street Journal that the governor “asked her if she had a boyfriend, called her a sweetheart, touched her lower back at a reception, and kissed her hand once as she stood up from the desk.”

Liss said she initially thought Cuomo’s behavior was a “harmless flirtation,” but over time he found her “condescending” and said she felt reduced to “just a skirt” , adding that her experience in Albany led her to seek mental health counseling in 2014.

Meanwhile, Karen Hinton, the governor’s former press secretary, detailed at The Washington Post allegations that Cuomo acted inappropriately towards her after a work event in 2000, when he headed the U.S. Department of Housing and Urban Development and she was a consultant for the agency (she had quit her post full time as HUD communications manager).

Hinton alleged that Cuomo summoned her to his dimly lit hotel room and pulled her towards him after attempting to pull away from him, holding her before stepping back and out of the room.

Hinton – who was 42 at the time, roughly the same age as Cuomo – described the hug as “very long, too long, too tight, too intimate” and “not just a hug.”

Cuomo’s office denied improper conduct in both cases, Peter Ajemian, the governor’s director of communications, saying Forbes Hinton’s account of the interaction in the hotel room “did not happen.”

Cuomo’s office denied improper conduct in both cases, Peter Ajemian, the governor’s director of communications, saying Fobes Hinton’s account of the interaction in the hotel room “did not happen.”

“Karen Hinton is a known antagonist to the governor who is trying to use this moment to score cheap points with made-up allegations from 21 years ago,” Ajemian said in an email (The Washington Post reported that the couple were known to have a contentious working relationship).

Crucial quote

Responding to Liss’ claims, Richard Azzopardi, Cuomo’s senior advisor, called their interaction normal. “Journalists and photographers have covered the governor for 14 years watching him kiss men and women and pose for photos,” Azzopardi said. Forbes. “At the mansion’s public reception there are hundreds of people and he poses for hundreds of photos. That’s what politicians do.

Key context

The allegations are in addition to similar claims made by three other women, including two former aides who accused the governor of unwanted sexual overtures. Cuomo has faced mounting criticism and calls for resignation amid the mounting allegations, which are currently under investigation by New York State Attorney General Letitia James.

Further reading

“Andrew Cuomo’s Third Former Assistant Describes Inappropriate Treatment in the Workplace” (Forbes)

“Cuomo’s behavior has created a ‘hostile and toxic’ work culture for decades, according to former collaborators” (The Washington Post)

“Cuomo denies touching anyone inappropriately: ‘I’m not going to resign'” (Forbes)



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GOP leaders accuse Wolf of setting up voting questions on emergency powers for failure: ‘It wasn’t a mistake’ https://heiki.org/gop-leaders-accuse-wolf-of-setting-up-voting-questions-on-emergency-powers-for-failure-it-wasnt-a-mistake/ https://heiki.org/gop-leaders-accuse-wolf-of-setting-up-voting-questions-on-emergency-powers-for-failure-it-wasnt-a-mistake/#respond Wed, 07 Apr 2021 23:13:40 +0000 https://heiki.org/gop-leaders-accuse-wolf-of-setting-up-voting-questions-on-emergency-powers-for-failure-it-wasnt-a-mistake/ Republican legislative leaders accuse Gov. Tom Wolf’s administration of trying to sabotage their efforts to reassert their authority in determining the duration of emergency disaster declarations in Pennsylvania. They say the governor’s State Department intentionally formulated two proposed constitutional amendments which will appear on the May 18th primary ballot in a way that tries to […]]]>


Republican legislative leaders accuse Gov. Tom Wolf’s administration of trying to sabotage their efforts to reassert their authority in determining the duration of emergency disaster declarations in Pennsylvania.

They say the governor’s State Department intentionally formulated two proposed constitutional amendments which will appear on the May 18th primary ballot in a way that tries to ensure that they fail to garner support from voters.

“It was not a mistake,” said Senate Speaker Pro Tempore Jake Corman of R-Center County of the wording of the proposed amendments.

“The governor is so desperate to hang on to power that he drafted this language in the May ballot to misrepresent the amendment,” said House Majority Leader Kerry Benninghoff of County R- Center.

Corman, Benninghoff and Senate Majority Leader Kim Ward, R-Westmoreland County, spoke about voting issues at a press conference on Capitol Hill Thursday.

A spokeswoman for Wolf defended the wording as necessary to provide context for the referendum that voters are urged to consider.

One of the proposed amendments would limit the duration of an emergency disaster to 21 days, but it could be extended by passing a concomitant General Assembly resolution. Currently, the constitution allows a governor’s emergency disaster to last up to 90 days and can be extended indefinitely.

The State Department wording is as follows:

“Should the Pennsylvania Constitution be amended to change existing law and increase the power of the General Assembly to unilaterally terminate or extend a declaration of disaster emergency – and the powers of Commonwealth agencies to in the face of disaster however serious it is in accordance with this statement – by passing a simultaneous resolution by simple majority, thereby removing the existing control and balance of presenting a resolution to the governor for approval or disapproval? “

A separate amendment would allow the General Assembly to end an emergency disaster without having to present it to the governor for signature. This follows from a decision of the State Supreme Court However, the General Assembly cannot act unilaterally to end a governor’s declaration of emergency. The court said it would require the governor’s approval to go into effect.

Here is the State Department wording of that referendum:

“Should the Pennsylvania Constitution be amended to change existing law so that: a declaration of disaster emergency automatically expires after 21 days, regardless of the severity of the emergency, unless the Assembly general take action to prolong the disaster emergency; the Governor cannot declare a new disaster emergency to respond to the dangers facing the Commonwealth unless the General Assembly passes a concomitant resolution; the General Assembly promulgates new laws for disaster management? “

Wolf spokesperson Lyndsay Kensinger said: “Ballot questions tell the voter in a fair, precise and clear manner what question to vote on. The proposed amendment removes the existing control and balance – already contained in the Constitution of the Palestinian Authority – of presenting simultaneous resolutions to the governor for approval or disapproval. “

The administration is also reporting a series of court cases that highlight the need for voters to have context in relation to the issue before them.

Wolf, along with his Democratic allies, have made clear their opposition to these proposed constitutional changes that stemmed from Republicans’ dissatisfaction with Wolf’s handling of the COVID-19 pandemic.

Democrats say the governor’s decisions related to the pandemic had the health and safety of the public at heart and that the proposed constitutional amendments are an attempt to seize power by Republican legislative majorities.

But Republican leaders have maintained their intention behind the proposed amendment, which has been passed by both houses with bipartisan support in two consecutive legislative sessions, is intended to give the people a voice in determining the duration of a disaster. emergency.

“We’re not trying to take away the governor’s power,” Ward said. “We are trying to reestablish our equal branches of government. And if there is still an emergency going on, yes the governor still has a call for a state of emergency, but we would also have a seat at the table to look at things.

Benninghoff said the administration’s decision to draft the referendum the way it did begs the question, “Why are they so scared?”

“All we asked for was to have a voice,” he said.

Particularly troubling to GOP leaders were the phrases “however severe the emergency” and “remove existing checks and balances” they support are meant to scare voters into voting no.

“It’s shameful,” Benninghoff said. “I’m just amazed at the way this was written and frankly the Pennsylvanians deserve better.

It is the latest in a series of issues that have arisen with other proposed constitutional amendments since Wolf has been governor.

Recently, lawmakers have overwhelmed the inability of the State Department to release a proposed amendment this would open a two-year window for lawsuits brought by survivors of child sexual abuse who are beyond the statute of limitations. Lawmakers and victim advocates wanted him to appear on the May ballot. This botched effort led to the resignation of Kathy Boockvar as secretary of the department.

Five years ago, it was the State Department’s formulation of yet another proposed constitutional amendment regarding the mandatory retirement age for judges that became the center of the controversy that resulted in an unsuccessful legal challenge by Republicans in the Senate. The dispute over this referendum unfolded so close to the primary elections that the issue ended up appearing twice on the ballots. The first time the question came up it didn’t count and the second time, he barely passed.

Going forward, Corman said they are looking to remove the State Department from the role of drafting voting questions and hand them over to the bipartisan Legislative Reference Office. The office is at the center of the legislative action that led to his time in the General Assembly and knows the intent behind it, Corman said.

Regarding these proposed amendments, Corman said no legal challenges are being considered, citing Republicans’ unsuccessful record on various Democratic-majority issues in the state’s Supreme Court.

Instead, he said they would focus on educating voters on ballot issues.

“It’s about how we move forward as a government and we want one person to make all of these decisions. I don’t think our drafters designed our government that way, ”Corman said. “We hope to do our best to educate voters again so they can make the call.”

Last week, Wolf signed another 90-day extension to the state’s disaster declaration due to the COVID-19 pandemic. It will be in effect until the May primary.

Jan Murphy can be reached at jmurphy@pennlive.com. Follow her on Twitter at @JanMurphy.

Learn more about PennLive

The $ 100,000 club: 11,337 Pennsylvania state government employees made the list in 2020



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A Guide to Financing Options for First-Time Home Buyers https://heiki.org/a-guide-to-financing-options-for-first-time-home-buyers/ https://heiki.org/a-guide-to-financing-options-for-first-time-home-buyers/#respond Wed, 07 Apr 2021 23:13:40 +0000 https://heiki.org/a-guide-to-financing-options-for-first-time-home-buyers/ We asked Darrin Q. English, Senior Community Development Credit Officer at Quontic Bank in New York, for financial advice for first-time buyers. English responded to our questions in an email. Answers have been edited for length and clarity. Q: Do you have any general advice for first-time buyers on financing? A: Preparing for your first […]]]>


We asked Darrin Q. English, Senior Community Development Credit Officer at Quontic Bank in New York, for financial advice for first-time buyers. English responded to our questions in an email. Answers have been edited for length and clarity.

Q: Do you have any general advice for first-time buyers on financing?

A: Preparing for your first home purchase can be daunting. It is important to educate yourself about the home buying process. Understanding basic financial language will be essential when doing a survey with a lender. Familiarize yourself with risk factors such as your credit score and debt that will influence your rate and the terms of your loan. Also:

● Start your search online.

● Attend an online shopping seminar.

● Contact a bank that you know first.

● Find a local non-profit agency sponsored by the Ministry of Housing and Urban Development. A HUD Certified Home Buyers Advisor will know your local programs and guidelines.

● Ask your family and friends to recommend lenders to consult.

Q: How much money do buyers typically need for the down payment and closing costs?

A: Typically, a borrower needs a minimum of 3 percent for the down payment. Closing costs vary by state and range from 3 to 5 percent of the purchase price. Many loan programs also require borrowers to have at least two months of principal, interest, taxes, and insurance (PITI) in reserves.

These funds can be obtained from a combination of savings, retirement funds and gifts from family members. It is important to note that many loan programs require that the 3% down payment come from the borrower’s own savings.

Q: What are the right loan options for first-time buyers?

A: FHA loans of Federal Housing Administration are the federal government’s premier first-time home buying program. FHA loans require a 3.5 percent down payment and allow borrowers to qualify with a lower credit score and higher debt-to-income ratio, which compares your minimum monthly debt payments to your gross monthly income. Borrowers can get donations from family members.

Additionally, sellers can contribute up to 6% of the purchase price towards a borrower’s closing costs. However, mortgage insurance is required for the life of the loan.

VA loans, which are designed for people who have served our country in the armed forces, are a good option for those who are eligible, as buyers can finance 100% of the purchase price without the need for mortgage insurance.

In addition to the standard first-time loan programs, many lenders have their own special programs designed for first-time buyers. Some are limited to first-time buyers and some are open to all borrowers, but are particularly useful for first-time buyers.

Bank of America: Bank of America’s Community engagement in homeownership, available in many U.S. markets, includes down payment and closing grants, low down payment loans, and educational resources to help buyers prepare for homeownership.

Bank of America Real Estate Center home shopping tool helps buyers identify homes where subsidy programs may be eligible. Borrowers must qualify based on income and housing price limits.

The program allows eligible borrowers to purchase a home with a down payment as low as 3 percent of the property’s purchase price, which can come entirely from donation funds. Eligible borrowers can request up to $ 5,500 for closing costs or down payment.

To be eligible, borrowers must have a minimum credit score of 620 and a maximum debt-to-income ratio of 45%, which compares the minimum payment of all recurring debt to your gross income.

The borrower’s income cannot exceed the area median income (AMI) of the county in which the property is located.

Loans can be combined with community programs that provide down payment assistance. Citizen home loans require income and credit qualification and are available in 12 states, primarily New England and the Mid Atlantic.

Adopt home loans: The Affordable Housing Program offers reduced closing costs and lower interest rates for eligible borrowers. The program works with the FHA, Department of Agriculture, Department of Veterans Affairs, Home Possible and HomeReady loans, and allows down payments as low as 3 percent, from sources such as eligible donations, grants, and grants. down payment assistance programs.

To qualify, borrowers must be first-time buyers, have a credit score of 620 or higher, and have an income of 80% or less of the MAI for the location of the property.

Federal Navy Credit Union: The Homebuyers Choice Loan is a no down payment loan with a fixed interest rate and no PMI requirement. Borrowers don’t have to be first-time buyers. The loan terms are the same as for other conventional loans, with a review of income, assets and credit.

Quontic Bank: The SONYMA (State of New York Mortgage Agency) loan program includes Make the dream come true, a 30-year fixed rate loan with a 3 percent down payment requirement that can be combined with grants and down payment grants. In addition, a low interest rate program is available on loans with a 3% down payment.

Borrowers must be first-time buyers in New York State who will be living in the residence. Income and purchase price limits also apply.

TD Bank: The TD Right Step Mortgage offers qualified buyers a 30-year low fixed rate alternative to conventional or FHA guaranteed loans and offers flexible down payment options as low as 3% without the additional cost of PMI.

To qualify, borrowers must complete a home buyers class and meet the bank’s credit standards. TD Bank also offers extensive training and resources for home buyers, including interactive seminars that explain the mortgage process.

Low to moderate income borrowers must have verified qualifying income, which is 80 percent or less of the MAI.



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