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In January 2017, Funding Societies was one of the first SME digital lending platforms in Singapore to be awarded Capital Markets Services Licence by the Monetary Authority of Singapore. In February, it revolutionised Business Loans by introducing FS Bolt, a mobile app for loan applications, which is now available on App Store & Google Store.
The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore.It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves.
Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
Hard money loans are made to real estate investors for the purpose of investing in and rehabbing real estate. Rates are a little higher than borrowing directly from a private lender, as the hard money lender may also be collecting yield spread. The hard money lender will also charge points of 3% to 6% or more. [1] These points are often paid up ...
The licence, granted by the Monetary Authority of Singapore (MAS), will allow Ripple to provide regulated digital payment token services. It is one of 14 companies that are licensed to offer ...
The selling of mortgage loans in the wholesale or secondary market is more common. They provide permanent capital to the borrowers. A "direct lender" may lend directly to a borrower, but can have the loan pre-sold prior to the closing. Few lenders are comprehensive or "portfolio lenders". That is, few close, keep, and service the mortgage loan.
Singapore authorities on Friday announced new measures to tackle money laundering, including inter-agency data-sharing, striking off of inactive companies and channels and programmes to get ...
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