The French League studies a common loan to help the clubs

first_imgThat decision can be a serious blow to the clubs, which in France receive 36% of their income in the first division from television broadcasting rights. Another threat comes from the fact that the transfer market may be severely affected by the slowdown. French clubs are traditionally vendors and they obtained a significant part of their income from this section. In the 2018-2019 season there were some 635 million euros in transfer surpluses, essential to balance their accounts, and according to the French financial control body, the clubs still need about 200 million euros until the end of the season to not end it in negative. Most of the clubs have resorted to partial unemployment mechanisms for their workforce or to salary reductions for their stars. But, even with these solutions, the coffers of the clubs must support up to 84% of the players’ net salary, not covered by the partial employment regulation files. The LFP is in negotiations with the soccer union to reduce wages 50% globally. The crisis is affecting most of the clubs, even the big ones.The main threatened is Olympique de Marseille, who already had red numbers before the arrival of the coronavirus and was in the spotlight of UEFA for that reason. Monaco, another of the greats, has put all its workers on technical unemployment and negotiates with the staff to reduce their wages. The club can benefit from the support of the Principality’s authorities and studies whether it can also receive help from the French State, since it plays in that league. The Paris Saint-Germain (PSG), for its part, despite having the largest budget, is also the one with the most losses linked to the pandemic. It is estimated that you can stop entering about 215 million euros. The French Professional Football League (LFP) is considering creating a community credit fund to help clubs overcome financial difficulties they may have due to the slowdown in competitions due to the COVID-19 pandemic. According to sources of the organization, it would be a credit of between 200 and 250 million euros that would be requested with the guarantee of future television income, both the current ones, from the BeIN Sports channel, and those of the following seasons, bought by the Spanish Mediapro. In this way, the aim is to allow entities to meet expenses during these months, when they have seen their income decrease due to the lack of ticket sales and all the benefits associated with the parties’ dispute. To this is added that Canal Plus has decided to freeze the payment of 110 million euros that it had to make on April 5, as it could not broadcast the games.last_img read more

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Improving Loan Officer Production

first_img in Commentary, Daily Dose, Featured, News, Origination Borrowers Carrington Mortgage Homebuyers Loan Officers Ray Brousseau technology 2018-11-30 Radhika Ojha November 30, 2018 769 Views Improving Loan Officer Productioncenter_img We live in a tough competitive world and in this market, technology’s role increases every day. It’s hardly news that loan officers have adopted every program they can find in an effort to generate more leads. Although access to technology is now universal the results are not. Some loan officers do better than others, and you may find yourself wondering why that is.Artificial intelligence, big data, robotics and all the rest are enormously powerful tools − but tools by themselves are not enough. The real trick is how they’re used. This means we must customize technology to best serve your loan officers. There are several ways of doing this.First, you must use data from your portfolio to work with borrowers. You’re continually in front of customers with relevant messaging that includes product information. With advanced customer relationship management technology (CRM) your loan officers can immediately respond when borrower-needs arise.Second, continually watch your portfolio, looking for telltale signs of financial change, early prepayment, and nonpayment. Once alerted your loan officers can then work with borrowers who require refinancing or other forms of assistance with their existing loans.Third, an online presence is acutely important. However, site traffic is just one measure of online success. Don’t get me wrong, we like traffic, the more the better, but the real question for lenders is what benefit is produced. The benefit we want, of course, is more new business, more repeat business, and better customer relationships.  Fourth, we love technology, but there continues to be a place for manual underwriting.Borrowers spend a lot of time developing loan applications. It can be a scary process for some. It only seems fair that in turn, we should look at their entire financial profile to get a better understanding of who they are and what risks they represent. Although automated systems can process large batches of applications at great speed, we don’t want automated systems to unfairly deny financing to a person who might potentially be a solid borrower. At the same time, we must adhere to the traditional banking standard in which you have to know your customer. Sometimes the only way to do that is with manual underwriting. Online and off, one constant reality is that lenders that are responsive, and that take customer interests seriously, are the lenders that succeed. Sharelast_img read more

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