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Can Social Networks Impact Credit Scores?

August 28th, 2013 Comments off

facebook-logo-posted-daily-business-news-manufactured-home-marketing-sales-management-mhpronews-comLenddo, Kabbage  and Kreditech are among the companies that use Facebook, PayPal, eBay or Amazon to determine if people without traditional FICO scores may be credit worthy.  CNN Money tells MHProNews that some of these start ups are finding that while traditional lenders steer clear of no/low credit score customers, that social connections can be a good indicator of a person’s creditworthiness. “It turns out humans are really good at knowing who is trustworthy and reliable in their community,” said Jeff Stewart, a co-founder and CEO of Lenddo. “What’s new is that we’re now able to measure through massive computing power.”  German Kreditech states it uses up to 8,000 data points when assessing an application for a loan. The lesson in part is that what you do online with social networking matters.  ##

(Image Credit: Facebook Logo)

How Much for Lunch? Millions!

June 4th, 2013 Comments off

For the 14th consecutive year Berkshire Hathaway CEO Warren Buffett is auctioning off a power lunch for eight on E-bay, his annual anti-poverty fundraiser that fuels the San Francisco charity GLIDE. The non-profit provides some 800,000 meals each year to the hungry, and has received $15 million since the auction began in 2000. CNNMoney tells MHProNews an anonymous donor last year won the bid for nearly $3.5 million. Bidding began Sunday evening June 2 at $25,000 and reached $130,000 by Monday morning. One of the world’s wealthiest and most generous men, Buffett intends to give away the bulk of his wealth, much of it to the Bill and Melinda Gates Foundation. He has pledges from over 100 billionaires around the world to leave half of their net worth to charity. Berkshire Hathaway is the parent company of Clayton Homes, North America’s largest producer of manufactured homes.

(Photo credit: Clayton Homes)