Doretha Clemon

Key Takeaways A portfolio lender is a financial institution that retains its mortgage loans instead of selling them, offering customized lending solutions. Portfolio lenders provide flexibility with terms but typically charge higher interest rates to mitigate risks. Unique borrowers, such as those seeking jumbo loans or investment property loans, might find favorable conditions with portfolio lenders.

Key Takeaways Bitcoin continues to lead the pack of cryptocurrencies in terms of market capitalization, user base, and popularity. Other virtual currencies, such as Ethereum, are helping to create decentralized financial (DeFi) systems. Some altcoins have been endorsed as having newer features than Bitcoin, such as the ability to handle more transactions per second or use different consensus algorithms.

Key Takeaways A deficiency balance is the amount owed to a lender after collateral fails to cover the full loan balance upon sale. Deficiency balances can impact credit reports, appearing as a charge-off, settlement, or deed in lieu of foreclosure. Borrowers may negotiate settlements for a deficiency balance or face potential legal actions from lenders. The IRS may treat waived deficiency balances as earned income, affecting tax obligations.