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Economy

Economy

A-2702-ComidaBlockchain-BBVA

Fair-trade coffee, quality guarantee, ecological tomatoes… consumers read the labels on the things they eat. But is there any way of checking that what they say is correct? In order to do so, you would need a register of the processes to which the product has been submitted, something blockchain can do.

BBVA has teamed up with several global banks to become a member of the Standard Repackaging Documentation platform (SRD). This initiative is a response to investors’ demands for standardization of repackaging transactions. BBVA is the only Spanish bank involved.

On the road to home ownership, it can feel like every turn includes another unexpected charge or fee, with one of the final being closing costs.

‘Closing costs’ is an umbrella term that encompasses various fees collected by those who perform all the final tasks that ultimately allow a home buyer to sign on the dotted line of their mortgage loan. The fees, which typically range from 3 to 5 percent of the cost of the home, include various charges like appraisal,  underwriting and recording fees, among other charges. According to BBVA Compass Director of Real Estate Originations Jose Pascual, the number and total amount of fees can vary.

The regulation of the digital world is a key issue for Latin America and a necessary condition for achieving relevance in this field on a global level.  So far, Latin American regulators have adopted a “wait-and-see” attitude that aims to avoid slowing down innovation. However, a lack of action on the regulatory front could put the brakes on innovation in industries such as finance.

Let’s talk Private Mortgage Insurance, or as it’s more commonly known, “PMI.”

If you’re buying a house and in the process of obtaining a home loan, chances are good you’ve at least heard the term. Chances are even better you’re acutely aware of PMI if you’re planning a down payment of less than 20 percent, because PMI is the premium you’ll have to pay to insure the lender against loan default.

Taking on a mortgage might be the single most important financial decision a person makes, and accordingly, it may also be one of the most complicated. Simply understanding the type of mortgage loan that is right for your situation can be confusing at best.

In this article, we’ll wade through industry terminology to boil each option down to its essence, so you can better know which may be right for you and your home buying situation. We’ll also review some of the terms you might hear bandied about – Conforming, Conventional – to understand how they fit into the bigger picture.

When it comes to how much home you can afford, the answer is not always as cut and dried as the pre-qualification you receive from your lender, says BBVA Compass Director of Real Estate Originations Jose Pascual.

Pascual says that lenders do their best with what they’re given in order to pre-qualify customers for an affordable amount, but there are considerations outside their purview that borrowers should also consider.