Byju’s all set to replace Oppo on the Indian Jersey

first_imgAdvertisementTeam India will have a new brand name on their jersey as the Chinese-mobile maker Oppo which made a winning bid of about Rs 1,079 crores for the jersey rights in March,2017 will now make way for the Bangalore based educational technology and online tutoring firm, Byju’s.Sources have told that, Oppo has decided to exit the space and reallocate its rights to the Educational firm Byju’s, because Oppo who won the rights in 2017 from Star finds the value to be ”extremely high” and ”unsustainable”.According to the sources, Oppo will be seen on the Indian Jersey only till the end of the forthcoming Caribbean tour. Once South Africa’s tour of India starts in September , Byju’s will take over the jersey rights and this deal with the online educational firm will continue until March 31,2022. The source also added that the Chinese company has cut down its losses and reallocated the rights to Byju’s.Byju’s was founded by Kerala-based entrepreneur Byju Ravindran and is valued at 38,000 Crores after its latest funding. the source from the company said that they were looking for branding exercises of this volume and it is just the kind of space the company wanted to get in.Oppo’s winning bid in 2017 worked out to Rs 4.6 Crore per bilateral series and 1.56 crore per ICC or Asia Cup match. This was a massive increase from what previous right holders Star India Pvt.Ltd had been paying the BCCI. Advertisementlast_img read more

Examining Homeowners Mortgage Attributes

first_imgExamining Homeowners’ Mortgage Attributes in Daily Dose, Featured, Market Studies, News, Origination, Servicing 15-year fixed mortgage 30-year fixed mortgage Adjustable-Rate Mortgages CoreLogic mega loans Refinancing 2019-01-09 Donna Joseph According to a report by CoreLogic, the share of cash-out refinances, particularly among fixed-rate borrowers, suggests the desire of homeowners to access cash by borrowing against home equity. Out of the currently active loans that were originated in 2013, 47 percent accounted for cash-out refinances. The next largest mortgage purposes-consolidation, and rate/term reduction loans, accounted for 21 percent and 16 percent, respectively. Interestingly, Adjustable-rate mortgages (ARMs) is the most preferred option for those financing luxury homes. Data revealed that 76 percent of borrowers refinancing ARM loans opted to go for another. Thirty-one percent of the fixed-rate borrowers switched to an ARM with a median initial interest rate at 3.25 percent. The adjustable period for these will begin by Q3 2024, the report said. The report stated that out of  230 total active “super” jumbo mortgages, 75 percent were originated since 2013. Refinances account for roughly 180 of the total count, and 74 percent of these were also originated since 2013. “The share of refinances highlights the likely motivations of these wealthy homeowners,” the report reads.  Low interest rates and rising home values have driven refinance activity since 2013. Based on its public records data, a cluster of active-mortgage loans that have origination amounts between $10 million and $20 million in recent years. CoreLogic’s data points out that a few borrowers took advantage of the lower interest rates in refinances. Expiration of the fixed-rate term on the preceding ARM may have acted as an incentive to refinance, the report stated. However, it indicated that borrowers were able to capitalize on lower interest rates before the first adjustment—wherein half of the borrowers refinancing ARM loans before the first adjustment were able to obtain lower interest rates, decreasing their interest rate by an average of 70 basis points. The average increase in original principal balance for loans identified as cash-out refinance was $6.6 million. The report found an average refinance origination amount exceeded the prior mortgage amount by $8.3 million last year. In the fixed-rate category, the 15-year term was the most popular with fixed-rate loans, followed closely by 30-year, based on CoreLogic public data.California topped the “distribution of cash-out refinance mega loans outstanding by state list with a cashout-refinance share of 55 percent. Florida, Massachusetts, Connecticut, NewYork, Texas and all other states accounted for 92 percent of all cash-out refinance mega loans.center_img January 9, 2019 1,254 Views Sharelast_img read more