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Aqua finance incorporated2/12/2024 Conseco Inc., a life and supplemental health insurer, memorably touted "extensive cross-marketing opportunities" when it agreed in April 1998 to acquire manufactured housing finance company Green Tree Financial Corp. all maintained significant consumer lending and/or residential mortgage operations during at least part of the 1990s, most of which they later sold in whole or in part as the notion of financial services convergence fell out of favor. of America and the predecessor to Principal Financial Group Inc. Life insurers such as Transamerica Corp., American General Corp., Prudential Insurance Co. What might appear to casual industry observers as an unusual marriage from an operational standpoint makes perfect sense in a financial context in the current environment. It also will benefit from Apollo's management expertise in the specialty finance arena. Those benefits may be individually incremental but collectively meaningful.įor Athene, which has already attained access to a diverse array of origination capabilities in large measure due to its relationship with Apollo Global Management Inc., the addition of Aqua Finance promises not only an additional supply of high-quality investable assets but also greater diversification by underlying borrower types. The TakeĪccess to direct origination platforms confers a competitive advantage to insurance companies during a time in which attractive new money investment yields remain difficult to find. Now, as most recently demonstrated by Athene Holding Ltd.'s proposed acquisition of a majority stake in home improvement lender Aqua Finance Inc., investment synergies are at the root of a new sort of convergence. Need to know if I can ignore or if I need to do something about this.The potential for sales-related synergies contributed to parent-subsidiary relationships between select life insurers and consumer finance companies decades ago. Tl dr: got a suspicious letter in the mail about account being opened under my name. Is this ignore-able? Or do I have to do something silly like accept this and put money into the account until the loan has been paid? Has anybody dealt with this before? I've tried googling and not much comes up except for this thread and all the bad reviews about people getting similar letters. I don't want this to come back and bite me unexpectedly. I'm just worried about any potential random overdraft fees I might incur if I just ignore this. I'm not too worried about if this is illegal or not, as I know this is happening to other people and some loophole is probably being exploited. It goes on to show me my account and member number, and that an account was opened on my behalf. However, you will continue to make your loan payments to Aqua Finance as originally established, and they will continue to service your loan." As a result, you've become a member of our credit union. Your loan was then purchased by Connexus. "You recently financed a purchase from our partner Aqua Finance. The other day I received a letter in the mail from Connexus Credit Union saying the following: Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash. Private communication is not safe on Reddit.
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