Man Behind ‘As Seen on TV’ PedEgg to Buy $100 Million Miami Home
Ajit “AJ” Khubani made a fortune selling contraptions such as the PedEgg, for removing callouses from feet, and the Horsepower, for getting rid of grime, through “As Seen on TV” ads.
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Ajit “AJ” Khubani made a fortune selling contraptions such as the PedEgg, for removing callouses from feet, and the Horsepower, for getting rid of grime, through “As Seen on TV” ads.
Nonbank mortgage companies, which increasingly dominate the sector, pose unique risks and vulnerabilities that can weaken financial stability, according to a new Financial Stability Oversight Council report.
Federal Reserve Governor Michelle Bowman said she doesn’t expect it will be appropriate for the Fed to cut interest rates in 2024, pointing to persistent inflation in the first several months of the year.
Ghana has started a market for trading short-term debt, a platform that builds on the fixed income market created more than eight years ago, and comes as the country restructures debt to make it sustainable under an International Monetary Fund program.
Portugal will lower taxes on new homebuilding and make more rural land available for developing affordable flats in a bid to ease the housing crisis in one of western Europe’s poorest countries.
Mar 20, 2020
Bloomberg News
,The Canadian government announced it will guarantee previously uninsured mortgages, allowing it to acquire these loans in a $50 billion (US$34.8 billion) state purchase program.
The step is aimed at making it easier for smaller institutions -- which may not have enough insured loans -- to participate in the liquidity boosting plan, analysts said.
“These are extraordinary times and we are taking extraordinary measures,” Finance Minister Bill Morneau said in a statement. “As a result of this measure, banks and lenders will have more liquidity -- which, in turn, will enable them to work on a case by case basis with Canadian businesses and individuals who face hardship at this time.”
The changes will allow mortgage lenders to pool previously uninsured mortgages into the so-called National Housing Act Mortgage-Backed Securities program, making them eligible to be sold to the government.
The mortgage purchase plan is part of a slew of measures from the government, Bank of Canada and the nation’s banking regulator to inject liquidity into the nation’s banking system.
The changes will remain in force until December. Canada Mortgage and Housing Corp., the housing agency that will acquire the mortgages, will undertake its first operation on March 24.