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Tustin Approves New Housing for Homeless

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The Tustin City Council has unanimously approved an agreement to construct a new transitional housing facility for homeless families to accommodate the city’s growing homeless population.


Editors’ Note: This dispatch is part of the Voice of OC Youth Media program, working with student journalists to cover public policy issues across Orange County. If you would like to submit your own student media project related to Orange County civics or if you have any response to this work, contact Digital Editor Sonya Quick at [email protected].


The seven-unit, short-term housing development dubbed the “House of Ruth” by Family Promise of Orange County, a nonprofit organization that aids the homeless, will be located at 1941 El Camino Real, a city-owned vacant property near Interstate 5 by other apartment buildings and houses.

Transitional housing provides temporary homes for specific homeless populations, such as families and working individuals, who are unable to afford long-term housing. The goal is to transition these residents into permanent housing.

The development agreement, approved in February, between Tustin and Family Promise will assist the growing homeless population and fulfill the city’s goal of developing “strong community and regional relationships,” states a City Council agenda report.

Jerry Craig, deputy director of business services and housing, introduced the Family Promise development, including its fundraising plans and partners, such as HomeAid Orange County, at the Feb. 18 meeting.

Mayor Pro Tem Letitia Clark said it takes several partners to address homelessness and she appreciates the partnerships forged in Tustin.

The city will loan the property worth $320,000 to Family Promise, as long as the organization demonstrates “their financial capacity to both construct and operate the House of Ruth,” the staff report said.

The organization was “given a forgivable loan, so [Family Promise] will not be paying anything for the land,” said Family Promise Executive Director Cyndee Albertson. “It would take us possibly another six to ten months to raise the additional funds to buy [it].”

A nearby apartment complex.

The Orange County homeless population has grown from about 4,800 in 2017 to nearly 7,000 people in 2019, according to its 2019 Point in Time count. Tustin had 359 homeless people in 2019, with 95 of them listed as unsheltered.

The city entered into a contract with Family Promise in November 2018 to negotiate the use of city property to develop the House of Ruth, the city staff report said. The units would provide three to six-month housing and assistance for homeless families, with those from Tustin given priority housing.

Tustin has also helped provide homeless assistance through other programs in the past, teaming up with the Orange County Rescue Mission and Habitat for Humanity.

Albertson stated that the House of Ruth will provide various services such as tutoring, mental health counseling, credit repair, career development, and more. It will also provide a community resource center with laundry units, computers, and printers.

“I’m excited to expand our transitional services, but I’m almost more excited to have people refer families [in need] to our resource center,” Albertson said. “There is no other service like this in Orange County right now.”

Katherine Futerer, a resident who lives a few blocks away from the development, said she is comfortable with the idea of a transitional housing facility.

“If homeless families are getting shelter and what they need, and since it’s not permanent housing, it wouldn’t be a bad thing at all,” Futerer said. “It’s helping the community with homelessness issues.”

Several other residents near the development declined requests for comment.

Edward Leon, an 18-year-old barista at a Starbucks near the planned development, supports the new facility and Tustin’s efforts with the homeless.

“Growing up in this community, I feel like in this area you always see those in need…Tustin itself is a community that always lends a helping hand,” Leon said.



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Landmark Point Predictive Fraud Study Details Record Year for Auto Loan Fraud in 2020

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SAN DIEGO–(BUSINESS WIRE)–Apr 15, 2021–

Point Predictive Inc., the San Diego-based artificial intelligence and data science company that helps lenders predict the trustworthiness of loan application information, published research detailing increased levels of attempted loan fraud in 2020, which the company believes could continue through 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210415005688/en/

US Auto Loan Fraud Reaches $7.3 Billion in 2020 (Graphic: Business Wire)

The company’s Auto Fraud Report is the auto finance industry’s most comprehensive annual assessment of application fraud risk. The 2020 edition includes unique insights about income and employment misrepresentation, identity fraud, and collateral fraud for US auto lenders, as well as the impacts of the pandemic on this important sector of the economy.

“2020 was a pivotal year for fraud risk, with auto loan fraud reaching $7.3 billion of originations,” said Frank McKenna, Chief Fraud Strategist for Point Predictive. “The pandemic heightened fear and anxiety and likely made consumers more vulnerable to scams and frauds. The ensuing economic turmoil caused an immediate and dramatic rise in unemployment, increasing some people’s willingness to engage in loan fraud. Furthermore, a flood of stimulus money and generous lender forbearance programs simultaneously increased the level of fraud while delaying lenders’ ability to recognize it.”

Many lenders have praised Point Predictive’s research due to the breadth, detail, and scope of the analysis. This year’s analysis drew from the Point Predictive anti-fraud Consortium dataset, a secure and private data science collaboration among dozens of US lenders. The Consortium now includes over 94 million loan applications containing 85 individual fields of data on each application. Every month, activity from 45,000 dealerships contributes to a view of vehicle financing that spans nearly all 157,000 US auto dealers. This data set tracks over $2.7 billion in known early payment default and the company’s machine learning techniques have generated more than 10 billion risk attributes, offering unparalleled insight into mostly hidden risk trends and the ability to predict more fraud than ever before.

“Consortium data is deeper and more predictive of risk than any credit bureau or public records source,” said McKenna. He continued, “This vast and deeply-specific data on each loan application gave us incredible clarity into fraud risk that lenders are exposed to. And one thing is for sure: the risk of fraud to auto lenders rose dramatically as the pandemic unfolded.”

One of the most significant trends addressed by the analysis was the marked uptick in income and employment misrepresentation. As the lockdowns began, Consortium members were suddenly impacted by a 100% year-over-year increase of falsified income and employment claims on auto loan applications, a level of risk which continued throughout the year. Detected among the trend was the use of over 300 new, but bogus employers each month, used by applicants to fraudulently convince lenders of steady sources of income.

Completing a complex risk picture for fraud managers, the report notes that scams like synthetic identity creation, credit washing, and even lawful impacts of credit repair efforts complicate efforts by lenders to guard against fraud in order to more quickly serve trustworthy borrowers.

“As a lender, you have to keep your guard up at all times. No assumptions can be made about any loan application until every single one clears a satisfactory fraud review,” said Steve Christensen, Executive Vice President of Elite Acceptance Corp. “The analysis and outlook from Point Predictive is essential reading in order to be prepared. For Elite Acceptance, the crucial trends to get ahead of are the dealer implications, such as a sale price inflation of over 10% on the top 10 models,” said Christensen. He concluded, “I credit Point Predictive for exposing the truth behind what is presented to lenders by dealers and borrowers.”

Additionally, the analysis of auto loan fraud in 2020 covers other concerning trends, including clusters of fraud in certain states and metropolitan statistical areas (MSAs), new tactics used by self-employed borrowers, patterns of suspicious and ambiguous naming conventions for fake employers, synthetic identity centers, Social Security number manipulation tactics, vehicles subjected to inflated pricing, and the systematic disputing of multiple negative tradelines on a credit report in order to make the borrower appear to be more creditworthy. Power booking is also on the rise, wherein dealers inflate sale prices and falsify down payments to increase the chances of loan approval.

The Auto Fraud Report concludes with recommendations from Point Predictive’s fraud experts for staying ahead of fraud in 2021. Tim Grace, Chairman and CEO of Point Predictive, encourages lenders to bolster fraud defenses and staff. “In times of crisis, there is often a need to reduce costs to stay profitable amidst decreasing volumes. But this is a mistake. The rate of fraud and risk will increase over the next 18 months, making fraud prevention and staffing one of the most important investments you can make in maintaining the health of your portfolio. Resist the urge to cut costs where it matters most.”

Auto, mortgage, and student lenders who are interested in receiving a copy of Point Predictive’s 2020 Annual Auto Fraud Report should contact [email protected].

About Point Predictive Inc.

Point Predictive enables lenders to fund more loans simply with a unique combination of Artificial and Natural Intelligence™ (Ai+Ni™) to power machine learning technology solutions. Point Predictive helps automotive, mortgage, retail and personal loan finance companies to identify the consumer applications with truthful and reliable information without the intense interrogation and verification of data caused by lower tech solutions currently in use. Highly regarded as the most trusted fraud and misrepresentation analytic solution providers, Point Predictive has transformed that trust to enable lenders to fund more loans to more consumers simply. Point Predictive uses big data powerfully orchestrated from millions of examples of true and falsified loan applications, billions of derived proprietary data elements, and scientifically selected third-party data sources to build powerful machine learning models with the added natural intelligence of human experience.

Located in San Diego, California, more information about Point Predictive can be found at www.PointPredictive.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210415005688/en/

CONTACT: Dennis Behrman

VP of Marketing & Growth, Point Predictive

858-227-6644

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY FINANCE AUTOMOTIVE GENERAL AUTOMOTIVE SECURITY BANKING PROFESSIONAL SERVICES SOFTWARE DATA MANAGEMENT

SOURCE: Point Predictive Inc.

Copyright Business Wire 2021.

PUB: 04/15/2021 10:57 AM/DISC: 04/15/2021 10:57 AM

http://www.businesswire.com/news/home/20210415005688/en



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TML announce launch of new residential Lumi products

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Steve Griffiths TML





A new, Lumi-branded, residential product has been launched by The Mortgage Lender, following a rise in demand from borrowers who have been financially impacted by the pandemic.

TML say that the range is available up to 75% loan to value, across four Lumi categories and caters for customers with defaults, CCJs, and mortgage arrears. It also offers enhanced credit criteria for unsecured arrears, bankruptcy and payday loans when compared to TML’s core range.

Lumi products are available for employed, self-employed and complex income applicants. The minimum loan is £25,001 and the maximum loan is £1m with rates starting at 4.98% for a two-year fix and 5.29% for a five-year fix at 70% loan to value.

Steve Griffiths, The Mortgage Lender sales and product director, said: “Now more than ever lenders need to have criteria that caters for a wide range of customer circumstances and recognise that the last 12 months has been financially difficult for many people.

“Our Lumi range, which is available through specialist distributors, takes a pragmatic approach to the real-world experience many of our broker partners are presented with when they are sourcing a mortgage for their clients.

“It offers fair rates combined with a flexible approach to underwriting that provides a stepping-stone for home-movers or those remortgaging and, in some cases, credit repair.”

Doug Hall, 3mc director, adds: “We are seeing increasing numbers of customers whose financial situation has been impacted by the Coronavirus pandemic who need products that are appropriate for their circumstances now.

“Through sharing our knowledge and challenges with lenders, like TML, the specialist lending sector is proving it can meet those needs in a responsible way. The launch of Lumi is great news for brokers and customers. It shows lenders are listening and able to respond to the market, improving customer choice and competition.”

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how to boost a bad credit rating

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HOLLAND, Mich. — Your credit score is just a number, but it can make a difference in your ability to get a loan, house, or even a job ,and after a tough year for finances, now is an important time to pay attention to your score.

“You need to have options, and you need to be able to have access, and all of that boils right back down to your credit score,” says Bree Austin-Roberts, a credit expert and founder of Lakeshore Credit Management and Repair Services in Holland. “I think it was a reality check for a lot of people to saying, ‘Hey, it’s time for me to start thinking about my financial situation.’”

Bree’s story is similar to so many of her clients. A few years ago, before she founded her credit repair business, she and her family were evicted from their apartment. Searching for a house and facing homelessness, Bree noticed a similar roadblock everywhere she looked.

“The credit became a problem,” she said. “It always boiled back down to the credit.”

Bree buckled down on payments and in no time had raised her credit score enough to move her family into a home and start up her business. Now helping others achieve the same success, Bree says a few simple adjustments can make a big difference. Her first call was to the three major credit bureaus to check the accuracy of her score.

“Like 80 percent of people in the United States have something that’s inaccurate on their credit report, but a lot of people don’t know because they don’t monitor their credit.”

So start by checking with TransUnion, Equifax and Experian on the accuracy of your score.

If you’re having a tough time making payments this year on bills or installment loans (which Bree says you should always have at least one of), try contacting your creditors to see if they can delay payments or work out some sort of payment plan that works for you.

“Directly related to the pandemic, a lot of lenders are being very lenient,” said Bree.

In addition to making all your monthly credit card payments on time when you can, Bree says it also matters how often you use your credit card, and on what. She says most repair experts will recommend you keep your card usage below 30 percent, but Bree recommends a lower limit for her clients.

“When you’re in the building process, you want to keep it 10 percent or below,” she said. “If you’re planning on making a major purchase in like 30 to 60 days, you probably want to keep your credit card balances between 1 and 3 percent.”

Other tips include becoming an authorized user on a loved one’s credit card. If they have good credit, spending responsibly on their account could help boost your score faster. Just have them ask their bank or credit union about adding you as an authorized user.

You can also open a secured card on your own. A secured credit card is essentially a prepaid card that ensures you don’t miss payments.

And remember: no credit doesn’t mean good credit. Lenders want to see you can responsibly handle debt.

“Having something to report is positive, but it’s the amount that reports that shows your credit worthiness,” said Bree.

What it boils down to, Bree says, is having good habits and sticking to them. Building or rebuilding credit is a marathon, not a sprint, and Bree says patience is key.

“I was never always a credit expert. It was trial and error,” she said. “I have been there before, and it doesn’t take much to end up right back there again if you’re not budgeting well–if you’re not being credit conscious.”

You can reach Bree at [email protected] or on her website or her Facebook and use the hashtags #lakeshoreCredit and #CreditQueen to join the conversation with her.

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