Mortgage Tech Startup Privlo Expands Into California, Serving The State’s Burgeoning Self-Employed Population

first_img faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Make a comment Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Privlo, a Non-QM mortgage startup backed by Spark Capital and QED Investors, just launched in its home state of California where a growing self-employed workforce is increasingly locked out of homeownership by traditional banks. Privlo’s mortgage platform takes in a far wider range of credit criteria and unique documentation than traditional lenders to assess high quality borrowers with complicated incomes or financial histories. These segments include small business owners, entrepreneurs, self-employed individuals and seasonal or commissioned workers with spiky incomes. Where banks may shy away from strong applicants who can’t prove financial ability with simple tax returns or W2s, Privlo works with them to sort through the complexity and find a truer measure of theircreditworthiness.In a state where 1 in 6 people in the workforce are either self-employed or small business owners, traditional lending standards are creating an imbalance. “More than 90% of California’s small businesses are sole proprietorships, and it’s no secret that many in this group are totally capable of taking on a mortgage but simply can’t get approved. There’s pent up demand in every state we’ve launched, but we expect California to exceed anything we’ve seen so far,” says Privlo’s Chief Credit & Product Officer Saro Vasudevan. California cities like Berkeley and Santa Monica lead the nation, hovering around 22% selfemployment and reflecting the state’s entrepreneurial and contract-based industries like entertainment and technology.The company, which also specializes in people who have had a single negative credit event, provides mortgages to highly qualified applicants who may have a bankruptcy or foreclosure as recent as a year old, and a short sale 6 months or older. This is compared to the general standard of two years or more among traditional lenders.“We retain lifetime interest in every loan we make so we’re still quite selective. When we look past things like uneven income, we’re finding really qualified people, some even with credit scores in the high 700s with great financial capability,” says Privlo Founder and CEO Michael Slavin. “What we’re doing is more of a mind shift if you think about it. If you live here in California, you’re probably blazing your own path in oneway or another. Traditional careers are becoming a thing of the past and we believe in embracing people and their entire financial picture, however complex it is, rather than devaluing their true financial ability.”The company expects most self-employed Californians who will qualify for home loans, or “Privloans” as they are called, to come from consumer-facing industries such as entertainment, tech, food and beverage, hospitality, and health care services – sectors with variable income that make them unattractive to traditional mortgage lenders, but an ideal fit for Privlo.About PrivloLaunched in 2011 by CEO Michael Slavin, Privlo (http://www.privlo.com) provides mortgages to highquality borrowers who aren’t eligible for traditional bank loans. The founding team comes from the worlds of consumer finance, real estate and technology startups, and is backed by Spark Capital and QED Investors. Privlo is headquartered in Los Angeles, CA and currently lending in California, Colorado, Idaho, Maryland, Minnesota, Tennessee, Texas, and Virginia with additional states planned in the coming months. Business News HerbeautyThese Lipsticks Are Designed To Make Your Teeth Appear Whiter!HerbeautyHerbeautyHerbeauty11 Signs Your Perfectionism Has Gotten Out Of ControlHerbeautyHerbeautyHerbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeautyA Mental Health Chatbot Which Helps People With DepressionHerbeautyHerbeautyHerbeautyTop Important Things You Never Knew About MicrobladingHerbeautyHerbeautyHerbeauty15 things only girls who live life to the maximum understandHerbeautyHerbeauty Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Top of the News Subscribe EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m.center_img Community News Your email address will not be published. Required fields are marked * Business Districts News Mortgage Tech Startup Privlo Expands Into California, Serving The State’s Burgeoning Self-Employed Population Using A Proprietary Credit Model For Complex Incomes, Privlo Focuses On Qualified Small Business Owners, Entrepreneurs and Seasonal Workers Often Overlooked By Banks From STAFF REPORTS Published on Thursday, January 22, 2015 | 12:33 pm Community News Name (required)  Mail (required) (not be published)  Website  More Cool Stuff First Heatwave Expected Next Week 8 recommended0 commentsShareShareTweetSharePin it Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

Woman accused of driving intoxicated, colliding with OPD car

first_img Police searching for man connected to hit and run By admin – May 11, 2018 Marisa Amador Police searching for woman connected to husband’s death Local NewsCrime Woman accused of driving intoxicated, colliding with OPD car Pinterest Home Local News Crime Woman accused of driving intoxicated, colliding with OPD car WhatsApp WhatsApp Facebookcenter_img Twitter Texas Fried ChickenSummer Spaghetti SaladHawaiian Roll Ham SlidersPowered By 10 Sec Mama’s Deviled Eggs NextStay Pinterest Previous article19-year-old charged with driving intoxicated with child in vehicleNext articleMan indicted in connection with shooting death admin RELATED ARTICLESMORE FROM AUTHOR Twitter Facebook Odessa police arrested a woman early Friday morning, accusing her of driving while intoxicated and colliding with an Odessa police car.Marisa Belia Amador, 31, was arrested around 2:45 a.m. Friday morning and charged with misdemeanor driving while intoxicated.An Odessa police release states officers patrolling the area saw a black Cadillac Escalade stopped at the intersection of University Boulevard and Bonham Avenue, and approached the vehicle to find a woman, later identified as Amador, to be in the driver’s seat with her head down, appearing to be asleep or unconscious.After Amador woke up to officers tapping on the vehicle door, officers instructed her to open the door and she shook her head “no,” the release states, before Amador took her foot off the brake, causing her vehicle to crash into a marked OPD car.There were no reports of any injuries. The release states officers smelled a strong odor of alcohol coming from Amador’s breath, before she was arrested and taken to the Ector County Law Enforcement Center. Youngsters urged to be safe over graduation weekends last_img read more

TH&R Celebrates Valentine’s DAY

first_img Email the author By Jaine Treadwell Print Article Plans underway for historic Pike County celebration Sponsored Content By The Penny Hoarder Troy falls to No. 13 Clemson Penny Hoarder Issues “Urgent” Alert: 6 Companies Are… TH&R Celebrates Valentine’s DAY Published 3:00 am Saturday, February 13, 2016center_img Skip Messenger photo/Jaine TreadwellEdward Mims and Mary Trawick were crowned Troy Health and Rehabilitation Center’s Mr. and Ms. Valentine at the center’s Valentine’s Day Party on Friday. Neither, Mims nor Trawick had been crowned as royalty before and were equally excited to wear the crowns. As Valentine King and Queen, both said they declare peace on earth and health and happiness for all. Although Mims and Trawick enjoyed homemade cookies and punch at the party, they both had special treat requests for Valentine’s Day. Queen Mary would like chocolate candy and King Edward demanded barbecued Doritos. At top, musical entertainment was part of the party for residents on Friday. Book Nook to reopen Remember America’s heroes on Memorial Day You Might Like TPD course teaches firearm safety, laws Whether you’re interested in learning about personal firearms or simply want to become more comfortable with a gun you already… read more Pike County Sheriff’s Office offering community child ID kits Latest Stories Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthGet Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Earth Talk: The End of Global Warming?

first_imgDear EarthTalk: Does the fact that we’ve had such a cold and snowy winter mean that global warming might not be such a big problem after all?— Lacey L., Lynchburg, VA It’s tempting to think that the cold air and snow outside augur the end of global warming, but don’t rejoice yet. According to the Union of Concerned Scientists (UCS), weather and climate are two very different beasts: “Weather is what’s happening outside the door right now; today a snowstorm or a thunderstorm is approaching. Climate, on the other hand, is the pattern of weather measured over decades.”Isolated weather events and even seasonal trends are not an indication of global warming’s existence one way or another, and most climatologists agree that the carbon pollution we have been spewing into the atmosphere for the past century is leading to more frequent and intense storms of every kind and causing greater temperature swings all around the planet. In short, the harsh winter we are having shouldn’t be viewed as a refutation of global warming, but rather as further evidence of a growing problem.“There is a clear long-term global warming trend, while each individual year does not always show a temperature increase relative to the previous year, and some years show greater changes than others,” reports the National Oceanic and Atmospheric Administration (NOAA). The agency chalks up these year-to-year fluctuations to natural processes such as El Niño or volcanic eruptions, but points out that, regardless, the 20 warmest years on record have occurred since 1981, while the 10 warmest were in the past 12 years. And global average temperatures have risen by 1.4°F overall since the early 20th century.According to Becky Oskin of LiveScience.com, shrinking polar ice caps as a result of global warming in recent decades are one factor that may be contributing to the cold weather in North America this winter. “One way the shrinking ice changes weather is by pushing winter air south,” she reports. “When the stored ocean heat gradually escapes in autumn, it changes the pattern of an atmospheric wind called the polar vortex, streaming frigid Arctic air into North America and Europe.” Meanwhile, a 2012 study by researchers Jennifer Francis and Stephen Vavrus concluded that intense warming in the Arctic has caused changes to the jet stream that regulates air circulation around the planet, potentially leading to stronger winter storms hitting the eastern seaboard of the U.S.And what about all that snow? “Hotter air around the globe causes more moisture to be held in the air than in prior seasons,” reports UCS. “When storms occur, this added moisture can fuel heavier precipitation in the form of more intense rain or snow.” The U.S. is already enduring more intense rain and snowstorms, says the group: “The amount of rain or snow falling in the heaviest one percent of storms has risen nearly 20 percent, averaged nationally—almost three times the rate of increase in total precipitation between 1958 and 2007.” And some regions of the country “have seen as much as a 67 percent increase in the amount of rain or snow falling in the heaviest storms.”And Oskin points out that while we may be bundling up and shoveling out in the U.S., it’s turned into another scorcher of a summer in the Southern Hemisphere: 2013 was Australia’s hottest year on record, and 2014 has started off even hotter, with temperatures soaring to 125°F and severe fire warnings issued in at least two states there. Apparently global warming is still on.last_img read more

BC Transit receives millions in funding, plans improvements

first_imgCommissioner of BC Transit Greg Kilmer said he appreciates the support from elected officials, and told 12 News that money received recently will be used to help support rural communities in the Southern Tier. “The rural communities in Broome County are much, much larger than anyone would imagine,” he said. “We have embraced the spirit of the CARES money, and so we’ve made a lot of modifications to make things safer, and it’s going to make us safer going ahead.” Congressman Anthony Brindisi announced around $1 million in funding would be heading to the Broome County Department of Transportation from the Federal Transit Administration. VESTAL (WBNG) — As Broome County Transit continues to receive funding, the Commissioner Greg Kilmer said he appreciates the support and changes to the bus station are coming. He mentioned that he’s been in touch with officials at the county’s health department, and said the contact tracing teams have seen few issues with buses. The department had previously received just under $11 million as part of the CARES Act back in April.center_img Kilmer says these measures are just part of the department’s ability to respond to the COVID-19 pandemic. The money will allow for changes like touchless fare systems, and the experimentation with new sprays that kill germs more effectively, as well as helping hire and retain CDL drivers for buses. Kilmer says there is no evidence to support the virus being transmitted on a bus. Overall, Kilmer said the current funding the department has will also be used to help offset costs brought on by the pandemic, which has included a decrease in ridership.last_img read more