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The story of the banking industry is, in many ways, the story of America. Immigrant successes, Westward expansion, rebuilding after massive losses, inventing new technology… American banks have been part of all these efforts and more.

This is especially true of the largest banks in America. With international presence and massive amounts of wealth, these banks play an important role in the history and future of world finance.

What’s Ahead:

1. JP Morgan Chase

  • Assets: $3,380,824M
  • Number of U.S. branches: 4,828
  • HQ: Columbus, OH

JP Morgan Chase’s ancestor institution, The Bank of The Manhattan Company, began as a water supplier. In 1799, New York Assemblyman Aaron Burr led an initiative to bring Manhattan residents fresh water. The entrepreneurial Burr used his state charter to start both a waterworks and a bank, which would outlive the water company and merge with Chase Bank in 1955.

Two other large institutions gave the bank its name. Famous financier J. Pierpont Morgan joined an 1871 merchant banking partnership to support American industrial growth. Publisher John Thompson established Chase National Bank in 1877, naming it after friend and Supreme Court Justice Salmon P. Chase. By 1930 Chase National Bank was the world’s largest.

Morgan spurred his firm’s growth by financing the railroad industry in the late 19th century. Struggling railroads like the Erie and the Northern Pacific got “Morganized” with cost-cutting measures and restructuring. Other companies that would later be a part of JP Morgan Chase founded American engineering projects standing today, like the Brooklyn Bridge and the Statue of Liberty. In 1904 J.P. Morgan & Co. financed the Panama Canal with a record-breaking real estate transaction of $40 million.

Later, JP Morgan Chase-affiliated institutions spearheaded 20th-century banking technologies including cash dispensers — the ancestors of ATMs — and home banking services.

2. Bank of America

  • Assets: $2,440,022M
  • Number of U.S. branches: 3,895
  • HQ: Charlotte, NC

Bank of America began in San Francisco as Bank of Italy. It traces its roots to 1904, when founder Amadeo Giannini, an Italian-American, had a vision for a new type of bank.

At the time major banks only catered to the wealthy. The Bank of Italy provided loans to middle and working-class Americans, immigrants, and farmers. Giannini convinced his neighbors, many of whom were fellow immigrants, to keep their money safely in a vault and earn interest. He began operations in a former saloon.

Giannini’s bank grew quickly and changed its name in 1930 to a name he felt better described his mission: Bank of America.

Bank of America continued to make inroads beyond its West Coast headquarters. By Giannini’s death in 1949 the bank was the world’s largest with $6 billion in assets.

In 1958, Bank of America issued the first bank credit card. By 1991, Bank of America had purchased a major California competitor and become the first bank to operate from coast to coast in the United States.

The 2009 acquisition of Merrill Lynch helped turn Bank of America into the largest wealth-management corporation in the world.

3. Citigroup

  • Assets: $1,720,308M
  • Number of U.S. branches: 666
  • HQ: Sioux Falls, SD

When the First Bank of the United States lost its charter in 1811, several of its investors decided to charter their own banks. One of these new banks was the City Bank of New York, founded in June 1812.

It was led by Samuel Osgood, a former member of George Washington’s cabinet and a Revolutionary War veteran. The bank was one of the first institutions to set up an office on Wall Street before the street became a financial hub.

City Bank saw opportunities in the early transportation industry. In the 1850s, bank president Moses Taylor invested in railroads and steamships.

City Bank was also the first American bank to open a department abroad. By 1915 it was the nation’s primary international bank. Texas entrepreneur James Stillman became bank president in 1891 and started trading with countries like Spain, Japan, and Brazil.

After a series of mergers, the former City Bank branched out into a holding company (Citigroup) and a banking business (Citibank) in the 1970s, forming Citigroup Inc. in 1998.

4. Wells Fargo

  • Assets: $1,712,535M
  • Number of U.S. branches: 4,739
  • HQ: Sioux Falls, SD

The California gold rush inspired investing partners Henry Wells and William Fargo to open a new venture in San Francisco in 1852. Wells, Fargo & Co. operated a bank and express delivery service for gold. As gold miners spread to cities and camps throughout California, Wells Fargo & Co. followed.

The company made its name in transportation. Prospectors needed to get their gold from coast to coast. There was a huge market for other transit needs, too, like communicating messages.

Wells Fargo used steamships, ponies, railroads, telegraphs, and stagecoaches to make deliveries across the developing West. They operated the western leg of the Pony Express in 1861 and expanded with the transcontinental railroad in the 1870s.

By 1888, Wells Fargo, using the mottoes “Ocean-to-Ocean” and “Over the Seas,” ran the U.S.’s first national express company and looked towards global expansion. They also boasted the world’s largest collection of stagecoaches and served areas where railroads didn’t run.

5. U.S. Bank

  • Assets: $582,253M
  • Number of U.S. branches: 2,251
  • HQ: Cincinnati, OH

Like most banks on the list, U.S. Bank is the product of multiple mergers. The combined power of several original “legacy” banks across the country, from Oregon to Ohio to Colorado, helped make U.S. Bank the success it is today.

U.S. Bank’s oldest legacy bank, Firstar of Milwaukee, was founded in 1853 as Farmers and Millers Bank. And the administration of President Abraham Lincoln approved the charter for the First National Bank of Cincinnati (later Star Banc) in 1863, in the midst of the Civil War.

San Miguel Valley Bank in Colorado, later part of U.S. Bank, earned its own claim to fame when it was robbed by Butch Cassidy in 1889 — the first bank the outlaw ever robbed.

As American prospectors and businesspeople went West to seek profits, U.S. Bank expanded westward as well. The United States National Bank of Portland opened in 1891 in Oregon. It later formed a holding company called U.S. Bancorp. U.S. Bank locked in its name before a 1913 law prohibited other banks from using “United States” in their names.

Over a century later, in the early 2000s, Firstar of Milwaukee — now much larger and wealthier than the Farmers and Millers Bank of 1853 — combined with U.S. Bancorp. More regional mergers and acquisitions in the 1990s and 2000s added Star Bank, along with regional banks in Missouri and Minnesota, to the U.S. Bank fleet.

6. PNC Bank

  • Assets: $534,347M
  • Number of U.S. branches: 2,639
  • HQ: Wilmington, DE

PNC stands for Pittsburgh National Corporation. In some ways, PNC hasn’t strayed far from its Pennsylvania roots. The company still does business in the same Pittsburgh location where the First National Bank of Pittsburgh opened in the mid-19th century Civil War era.

The bank continued to serve the community during the Great Depression in the 1930s, partnering with Peoples-Pittsburgh Trust Company to finance local improvement projects. They established a simple process for home and auto loan approvals and opened branches in small Pennsylvania manufacturing towns.

In 1983, PNC merged with the bank Provident National Corporation, taking advantage of new laws that permitted statewide banking. At the time, this was the largest merger in U.S. banking history. Conveniently, the two companies had the same initials.

As technology took on a larger role in banking, PNC established a common platform for each of its member banks in 1990. This way, customers had consistent access to the same services. A 1999 acquisition of an investor services group helped PNC branch into the worldwide investment industry.

7. Truist Bank

  • Assets: $532,080M
  • Number of U.S. branches: 2,117
  • HQ: Charlotte, NC

A company with proud Southern roots, Truist began in Atlanta, Georgia, as the Commercial Travelers’ Savings Bank in 1891, with a grocer as its first president. The bank moved into an eight-story building a few years later (the first “skyscraper” in the South) and became Trust Company of Georgia (TCG), focused on investment banking.

TCG also played a role in financing one of the country’s favorite drinks. In 1919, TCG purchased the Coca-Cola company and received $110,000 of shares in Coca-Cola stock.

After becoming a full-service commercial bank in 1933, TCG expanded through Georgia and the southeast. They merged with Florida-based Sun Banks, Inc., in 1985, the largest bank merger in the American southeast at the time. The new company, SunTrust, became one of the first banks to use electronic check transactions in 2004.

A much larger merger followed in 2019, as SunTrust combined with fellow Southern bank BB&T. To start fresh as a new institution, the now-larger bank hired a branding company to come up with an original name. As American Banker reports, many customers thought the name Truist was strange — but this doesn’t seem to have impacted the company’s profits.

8. Goldman Sachs

  • Assets: $501,906M
  • Number of U.S. branches: 3
  • HQ: New York, NY

Marcus Goldman, a German American shopkeeper living in New York City, found a niche in the banking market in 1869. His “commercial paper” trading business helped merchants and small businesses get short-term funds without paying for pricey bank credits. In 1882 his son-in-law Samuel Sachs joined the firm.

The newly named Goldman, Sachs & Co. was trading on the New York Stock Exchange by 1896. Business started booming. They scored big-name clients like Sears, Roebuck & Co., bought overseas banks, and started trading in international currency.

Goldman Sachs is known for pioneering the initial public offering or IPO, a process where a company offers shares of its stock for investors to buy. The IPO has since been essential to the growth of hundreds of companies and is one of the main ways companies raise capital.

9. TD Bank

  • Assets: $405,223M
  • Number of U.S. branches: 1,159
  • HQ: Wilmington, DE

TD Bank has Canadian roots. As the grain industry became more profitable in Canada, a group of merchants and grain millers founded the Bank of Toronto in 1855. A decade later in 1869, The Dominion Bank opened to serve Canadians, and both banks expanded across the country in the early 20th century.

After World War II, the two banks decided to merge in response to the challenges of the postwar economy. Their new combined name, Toronto Dominion (TD), has lasted since 1954.

Post-merger, TD Bank added substantially to its products and services, branching into mutual funds, discount and full-service brokerage, and commercial real estate. In 1987, the bank opened Toronto Dominion Securities Inc. for corporate investors.

Their expansion into the United States began in 2007-8 when TD Bank acquired the U.S.-based Commerce Bancorp. Commerce was known for its convenient hours, open seven days a week and almost 365 days a year. In its new incarnation, TD Bank adopted the tagline “America’s most convenient bank” throughout the U.S. and Canada.

10. Capital One

  • Assets: $388,440M
  • Number of U.S. branches: 296
  • HQ: McLean, VA

Compared to the other big banks in the United States, Capital One hasn’t been around for long at all. It wasn’t founded until 1988.

How did Capital One experience such rapid growth in only a few decades? Part of the answer is its niche expertise as a credit card company. Though Capital One has offered loans and consumer banking since 2005, its greatest profits in its early years came from customers’ desire for credit cards — which were more novel and exciting in the 1990s than they are today.

Capital One was pretty clever at growing its credit card business. The company used data to target customers with personalized offers, and grew its customer base by offering secured cards and joint accounts to customers with less-than-perfect credit. Additionally, Capital One offered the standout feature of letting cardholders design their own cards.

Catching up for its late start, Capital One acquired several other banks and increased its presence in the United States and Canada. By 2016, Capital One was the third-largest credit card issuer in the United States.

Nowadays, in addition to its booming credit card trade, Capital One has consumer banking and commercial banking divisions — including its Capital One 360 services that adapt checking, savings, and money market accounts for the digital age.

11. Bank of New York Mellon (BNY Mellon)

  • Assets: $365,102M
  • Number of U.S. branches: 29
  • HQ: New York, NY

The original Bank of New York (BNY) dates all the way back to 1784, when it was founded by Alexander Hamilton. BNY loans helped finance U.S. infrastructure projects like the Erie Canal and the subway in New York City.

Its future partner, Mellon Financial, got started in 1869 as a wealth management firm. Though the two companies are combined today, they still maintain a separate wealth management business.

In 2006-7, the Bank of New York acquired Mellon Financial and took on the new name BNY Mellon. The new company focuses primarily on corporate banking, including securities and asset management.

This focus is one reason for its huge profits; many of America’s large foundations, pension funds, and other Fortune 500 power players do business with BNY Mellon. By the end of 2020, the bank was servicing more money in assets than any other company in the world.

12. State Street Bank & Trust Co.

  • Assets: $296,434M
  • Number of U.S. branches: 2
  • HQ: Boston, MA

State Street’s predecessor banks date back to the 18th and 19th centuries. In 1792, Union Bank (later National Union Bank) was approved by Massachusetts Governor John Hancock and started business in Boston. They opened a headquarters on Boston’s State Street.

A century later in 1891, their competitor, the State Street Deposit & Trust Co., opened nearby. The two Boston banks merged in 1925 and kept the name of the street they had in common.

One major factor in State Street’s expansion was its embrace of technology and software. In 1973, when computers were still being developed, State Street acquired part of Boston Financial Data Services and began using data processing to improve their accounting and customer service.

When a 1974 law increased companies’ responsibilities to report pension plans to the government, State Street worked on software that helped companies maintain these records. That same year, the bank opened its own data processing headquarters in a Boston suburb.

Summary

The 12 biggest banks in America all have different stories, but also many things in common: savvy entrepreneurs behind them, massive growth fuelled by mergers and banking innovations, and a whole lot of assets in their vaults.

Read more

Source: moneyunder30.com

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Hilton Honors American Express Card overview

The Hilton Honors American Express Card is the brand’s no-annual-fee (see rates and fees), entry-level product. Featuring 7 points per dollar on eligible Hilton purchases and complimentary Hilton Honors Silver status, the card is a solid option for new cardholders loyal to the hotel chain or those looking to avoid annual fees. However, other travel cards offer more points flexibility and bigger perks. Card rating*: ⭐⭐⭐

*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

The Hilton Honors program covers over 7,000 hotels in more than 120 countries, providing plenty of chances to earn and redeem points.

If you’re a beginner looking for a credit card with some Hilton perks, you may want to look at the Hilton Honors American Express Card. It has no annual fee and comes with a nice welcome offer, generous category bonuses and travel and purchase protections, making it a great option for travelers looking to get started with Hilton Honors.

Here’s everything you need to decide if the card is right for your wallet.

Related: Choosing the best Hilton credit card for you

THE POINTS GUY

Hilton Honors Amex welcome offer

New applicants for the Amex Hilton Honors card can earn 70,000 Hilton Honors bonus points and a free night reward after spending $1,000 in purchases on the card in the first three months of card membership. Offer ends July 19.

TPG values Hilton points at 0.6 cents apiece, which means this bonus is worth $420 (excluding the free night), all for no annual fee and just a $1,000 spending threshold.

SUMMER HULL/THE POINTS GUY

Earning points on the Hilton Honors Amex

With the Hilton Honors Amex, you’ll earn 7 Hilton Honors points per dollar on stays at Hilton hotels and resorts (including paying for your room and on-site spending at restaurants and spas), 5 points per dollar at U.S. restaurants (including takeout and delivery), 5 points per dollar at U.S. gas stations and U.S. supermarkets, and 3 points per dollar on other purchases.

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Given TPG values Hilton points at 0.6 cents apiece, you’ll earn a 1.8% return on daily purchases and 4.2% return at Hilton hotels — though you’ll get an extra 12 points per dollar from your Hilton Honors Silver elite status, bumping your return to 11.4%.

Related: Points of View: Which credit card should you use for Hilton stays?

If you’re looking for higher earning opportunities covering a wider swath of travel purchases, including flights and rental cars, you won’t get that with this card.

KYLE OLSEN/THE POINTS GUY

Redeeming points on the Hilton Honors Amex

You’ll get the best value for your Hilton points when using them for hotel and resort stays, even with the chain’s lack of published award charts. How many points you need for a hotel room fluctuates, so you won’t know the final price until you go to make a reservation. The Points Explorer tool can show you what other guests have paid recently.

You can also transfer your Hilton Honors points to over 40 global airline loyalty programs and Amtrak. However, unless you need to transfer Honors points to top off an airline account for a specific award, using them for this purpose isn’t a good idea. The transfer ratio is normally terrible, losing thousands of points.

Our advice? Stick to hotel room redemptions to get the best value for your rewards.

Related: 10 Hilton properties I can’t wait to redeem Hilton Honors points for

You’ll do even better when you redeem points for a stay of five nights or longer. That’s because you get a fifth night free on stays using points.

HILTON.COM

This hotel near Niagara Falls charges 29,000 points, but you’ll see in the image that the fifth night is free — resulting in a final price of 116,000 points for five nights.

To learn more about redeeming Hilton points (and doing so at a great value), read the following guides:

Hilton Honors Amex benefits

The Hilton Honors Amex features a few notable perks and benefits beyond the welcome bonus. Here’s an overview of what this card has to offer.

HILTON

Elite status

The card comes with automatic Hilton Honors Silver elite status, which provides member discounts, a 20% points bonus on paid stays, no resort fees on award stays, a fifth night free on award stays and free bottled water. If you spend $20,000 on the card in a calendar year, you can upgrade to Hilton Honors Gold status, which TPG values at $1,220.

However, it’s worth pointing out that other Hilton credit cards offer Gold status automatically, meaning spending $20,000 to get there isn’t a good value.

Entertainment

Get exclusive access to ticket presales and cardmember-only events, along with Broadway shows, concert tours, sporting events and more through the American Express Experiences program.

Free shipping

ShopRunner gives you free two-day shipping on eligible items at a network of more than 100 online stores after signing up at shoprunner.com/americanexpress. Enrollment is required in advance.

Extended warranty

The card comes with an extended warranty that adds up to one year to an original manufacturer’s warranty of five years or less.

Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

Purchase protection

Purchase protection covers items accidentally damaged, stolen or lost if you paid for them with your card. This benefit covers purchases for up to 90 days and covers up to $1,000 per item — up to $50,000 per calendar year.

Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

Car rental loss and damage insurance

When you use the card to reserve and pay for a car rental and decline the rental company’s insurance, you’re covered against damage and theft — up to $50,000. This benefit is secondary coverage to your own auto insurance and doesn’t include liability.

Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.

Dedicated help

The Global Assist Hotline helps with medical, legal, financial or other emergency services when traveling more than 100 miles from home.

Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Cardmembers are responsible for the costs charged by third-party service providers.

Which cards compete with the Hilton Honors Amex?

The Amex Hilton Honors card has natural competitors with “Hilton” in their names, but a general travel credit card also may do better in your wallet. Here are options you should consider.

  • If you like Hilton but want more perks: The Hilton Honors American Express Surpass® Card earns an improved 12 points per dollar at Hilton hotels, provides automatic Gold status, and you can earn a free night reward by spending $15,000 on purchases in a calendar year. You’ll also get 10 Priority Pass airport lounge visits per year, and the card has a low $95 annual fee (see rates and fees). For more information, read our full review of the Amex Hilton Surpass card.
  • If you want flexible rewards with no annual fee: The Amex EveryDay® Credit Card earns 2 American Express Membership Rewards points per dollar at U.S. supermarkets (up to $6,000 of purchases per year, then 1 point per dollar) and 1 point per dollar on other purchases. You can use these points with Hilton and over a dozen airline and hotel programs. You won’t get any benefits with Hilton but will have options with your points while still not paying an annual fee (see rates and fees). For more information, read our full review of the Amex EveryDay card.
  • If you want a hotel card without an annual fee, regardless of brand: The Marriott Bonvoy Bold Credit Card is an option if you want a hotel credit card without an annual fee and aren’t tied to Hilton. You’ll earn 3 points per dollar at Marriott Bonvoy properties, receive complimentary Silver Elite status (and 15 elite night credits to help you reach higher status levels with Marriott), plus other travel and shopping protections. For more information, read our full review of the Marriott Bonvoy Bold card.

The information for the Amex EveryDay card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

For additional options, see our list of the best hotel credit cards and American Express cards.

Related: The best no-annual-fee credit cards

HILTON

Is the Hilton Honors Amex worth it?

You might assume the Amex Hilton card is worth it by default since it has no annual fee. It depends on what you’re looking for, though. If entry-level elite status, a good welcome bonus and fair earning categories are sufficient, you’ll like this card. If you’re looking for flexible rewards or more Hilton perks, go for one with an annual fee.

Bottom line

The Hilton Honors American Express Card is a good starter card for those looking to maximize the benefits of Hilton’s loyalty program without paying an annual fee — especially with the increased welcome bonus. It may not be the right card for everyone, though it may be the right card for you if that’s what you seek.

Apply here: Hilton Honors Amex with 70,000 Hilton Honors bonus points and a free night reward after you spend $1,000 in purchases on the card in the first three months of card membership.

Additional reporting by Ryan Wilcox, Stella Shon and Madison Blancaflor.

For rates and fees of the Hilton Honors Amex Card, click here.
For rates and fees of the Hilton Honors Amex Surpass Card, click here.

Source: thepointsguy.com

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If you’re a green-thumbed apartment renter, you probably don’t have a patch of yard to call your own. That can be frustrating for people who want to grow their own plants outside, but don’t worry! There’s an easy solution that’s probably not too far away: Join a community garden.

A community garden is a communal piece of land on which many people plant vegetables or flowers in divided plots. It’s a way to beautify a community, improve your diet, get some exercise, connect to the environment and save money on grocery bills, all at the same time.

If there’s a community garden near you that you’re interested in joining, go for it! But there are a few things you should know before you get your hands dirty. Read on for our dos and don’ts of community gardening.

Do: Find out who’s in charge

Your local county extension office, which you should be able to find with a simple Google search, should have information on the different community gardens in your area. Find a local contact and learn all you can about the garden you want to join. The American Community Gardening Association has a garden finder that you might also use.

Another option is to drive by a garden on a weekend when people are out tending their plants and ask them about joining.

Don’t: Steal anyone’s vegetables

This is an obvious gardening faux pas, but seriously: not cool.

Do: Stick with low-maintenance plants

…unless you’re a seasoned gardener. You want your plants to succeed, so start small, especially if you’re a first-timer. Do some research about the climate in your area and what grows well there, and start with those plants. Your fellow gardeners should be able to share some advice as well.

Don’t: Throw shade (literally)

Don’t let your plants block the sun for other people’s plants. What happens or doesn’t happen in your own plot is yours to deal with, but don’t affect anyone else’s garden.

Do: Make sure you can afford it

Most community gardens require annual dues to pay for general upkeep. The amount can vary greatly depending on your area and the garden in question, so do your research. The cost is likely minimal, but you should still know what you’re getting into.

Don’t: Use unapproved pesticides or fertilizers

Your community garden probably has rules about what sort of chemicals you can use – many don’t allow any at all. Remember that what you do in your plot does affect others’ plots, even if it doesn’t seem that way.

Do: Keep the walkway around your plot neat

The area around your plot, as well as in it, is your responsibility. Nice walkways make the entire community garden look nice, so do your part.

Don’t: Let your kids or pets run wild

Although gardening is a fun activity for kids as well as adults, keep an eye on them when you visit your plot. They might trample someone else’s garden, and that wouldn’t be very neighborly.

Do: Offer to water others’ plots when they go on vacation

They can do the same for you when you’re out of town.

Don’t: Let weeds grow

Your plot is for intended plants only! And after you pull weeds, don’t just toss them aside – put them in a trash can. If everyone does their part to keep the community garden beautiful, it’ll remain a beloved activity for your neighbors and yourself.

Are you a member of a community garden? What tips do you have for first-timers?

Image credits: Shutterstock / Arina P Habich, Oliver Sved, Laura Stone

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Apartment dwellers have neighbors. It’s a fact. Hopefully, you’re on good terms.

The neighbors many people are talking about the past few weeks are the ones portrayed by Seth Rogen and Zac Efron on the big screen in the movie “Neighbors.”

Their attempts to (cough!) get along result in mayhem at a level you’ll likely not experience as an everyday apartment dweller. (After all, you’d need a stunt double to safely get through some of those antics.)

[find-an-apartment]

Their silliness brings up a serious point, however. What do you do when you desperately want to get along with a challenging apartment neighbor?

Maybe you and your neighbor have a different idea of how loudly music should be played in the evening. Or perhaps your neighbor’s cooking is making itself a little too noticeable in your own apartment.

Small conflicts can exist, and the good news is they can be worked out when both parties come together and communicate. But here’s the challenge: you may have to be the one to broker an agreement.

With the skills you’ll read about here, you’ll be able to bring even a nightmarish neighbor to the negotiating table and work toward an acceptable outcome.

Start with “Hi…”
It’s an observation of modern-day interaction that we seem to avoid other people whom we do not know. We may feel uncomfortable and unsure about approaching strangers. Is it in my best interest to keep my mouth shut, we ask ourselves. Is avoidance the safest option? Will they take advantage of any openness I share?

For adults who share a neighboring living space, however, the onus falls on them to bridge the distance and set that anxiety aside — especially when they need to make a respectful request.

A conversation is the order of the day, and it can start with a simple hello.

Common ground
So, what do you have in common with your neighbor – besides the apartment community you live in and the quarrel you share? Continue your negotiation campaign by learning a little more about your neighbor beyond what you can observe.

How do you do this? Well, ask! Inquire about your neighbor’s interests. Note how you both drive similar vehicles; ask whether he likes his car. If a significant other or children are in the picture, share a detail or two about your own family.

When people understand each other and can find even a little common ground, they are less likely to dismiss the other’s point of view. Before you can expect your neighbor to see your side of an issue, you’ve got to be willing to take a look from their side. Empathy, or feeling from another point of view, is a key element in the process of addressing conflict.

This work at understanding is crucial. You must muster true interest, of course, or your efforts at empathy will fall short.

The moment of truth…
Ok, you’ve laid the groundwork for a constructive conversation with your neighbor, and the moment has arrived for actual negotiation about the issue at hand. Even with care, this could get tense. Choosing your words carefully has never been more crucial.

The skills of the professional counselor will aid you, here:

  • Listen! For every point you make, take a breath and listen to your neighbor’s response. This models how they might also behave in return.
  • Keep the discussion firmly on the topic at hand. If the conversation begins to veer away from the point, use your words gently to move back into constructive territory.
  • Reflect your neighbor’s words back to her to positively indicate your understanding.
  • Avoid the language of the absolute. An ultimatum will invariably provoke an emotional response that is unhelpful in resolving the dispute.
  • If talk becomes too personal or demeaning, take a break. When you begin to argue from an emotional standpoint, you’ve likely lost the day.
  • Catch yourself before you utter words like “you always…” or “you never…”
  • Don’t avoid conciliation. If your neighbor makes a reasonable point — or you even find your position changing — acknowledge this.
  • If brevity’s all that’s needed, keep the chat short.
  • Don’t use profanity!

An important choice is leaving the option open for further discussion, should this be necessary.

Standing firm on shaky ground
Your level of investment likely varies depending on whether you are lodging the complaint or defending yourself against one. But maintaining mutual respect and staying away from emotionality should be your goal, in either case.

The goal in negotiating a complaint is to win, right? Perhaps…but not at any cost. Winning likely involves some compromise, and the bigger person embraces this fact. You’ve “won” the conflict when you can live more or less in peace with your apartment neighbor.

Photo credits: Shutterstock / Ron and Joe, PathDoc, Cartoonresource

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How do low rates, big savings, and a simplified mortgage sound? Well, that’s what “ConsumerDirect Mortgage” says it’s offering its customers.

The online mortgage lender has apparently renovated the home lending process to eliminate fees, while also boosting transparency and customer satisfaction.

So it might be possible to get a cheaper mortgage in less time, with less work, which should make for a happier borrower.

Let’s more about this digital mortgage company to see if they could be a good fit.

Update: In February 2022, ConsumerDirect Mortgage changed its name to “Real Genius.”

ConsumerDirect Mortgage Fast Facts

  • Direct-to-consumer mortgage lender offering home purchase and refinance loans
  • Founded in 2012, headquartered in Delray Beach, Florida
  • The online division of parent company FirstBank, an FDIC insured depository bank
  • Licensed to do business in 49 states and D.C. (not available in Maryland)
  • Originated more than $5 billion in home loans last year
  • 99% of their loans come with a lender credit to reduce or eliminate closing costs

As you might have already suspected given the name, ConsumerDirect Mortgage is a direct-to-consumer mortgage lender that offers home purchase and mortgage refinance loans.

That means they work with borrowers remotely from a call center, which is located at their mortgage headquarters in Delray Beach, Florida.

Their loan production and operations center is located in nearby Charlotte, NC, and their mortgage servicing department in Newark, NJ.

While they’ve only been around since 2012, they are a division of FirstBank, a publicly-traded, FDIC-insured bank that was founded all the way back in 1906.

FirstBank funded more than $5 billion in home loans last year, with about half coming by way of refinance and half home purchase loans.

Roughly 70% of their loan production consisted of conventional mortgages, with the remainder mixed between jumbo and government lending.

They were most active in the states of Alabama, Arizona, California, Colorado, and Tennessee, but are licensed in every state other than Maryland.

How to Apply with ConsumerDirect Mortgage

  • Simply call them up directly or visit their website to get started
  • Prospective borrowers can generate mortgage rates quotes on the fly without providing contact info
  • If you like what you see or hear, click on Apply Now to begin the digital mortgage application
  • They claim to be a 100% paperless loan originator meaning most tasks should be electronic

To get started, simply call them directly to speak with a loan officer about loan pricing and eligibility, or visit their website and do it on your own.

If you go the website route, you can click on “View Rates” to price out your own unique loan scenario to see the latest mortgage rates available.

From there, you can click on Apply Now to begin a formal loan application, and a loan officer will be assigned to you as your guide.

ConsumerDirect Mortgage claims to be a 100% paperless loan originator, so most if not all tasks should be digital/electronic, including the application itself.

I believe it’s powered by Silicon Valley-based Tavant, a provider of AI-driven digital lending products.

Once you’ve submitted an app, you’ll be able to log in to their online borrower dashboard to access your to-do list and see the latest status updates.

All in all, they seem to make it quick and easy to apply for a home loan thanks to their use of the latest technology available.

Loan Programs Offered by ConsumerDirect Mortgage

  • Home purchase loans including first-time home buyer options
  • Refinance loans: rate and term, cash out, and streamline
  • Conforming loans backed by Fannie Mae and Freddie Mac
  • Jumbo home loans
  • FHA loans
  • VA loans
  • Construction-to-perm loans
  • Fixed-rate mortgages: 10, 15, 20, 25, and 30-year loan terms available
  • Adjustable-rate mortgages: 5, 7, and 10-year ARMs available

ConsumerDirect Mortgage offers a bevy of loan options, including home purchase loans, refinance loans, and construction loans.

You can get a conventional mortgage backed by Fannie Mae and Freddie Mac, or a government-backed loan such as an FHA loan or VA loan.

They don’t appear to offer USDA loans, which is the only real major loan type missing.

However, they do offer jumbo home loans, though it’s unclear how large of a loan amount they’ll allow.

Those building a home can take advantage of their construction-to-perm loan offering, and my assumption is they also offer home renovation loans such as the FHA 203k loan program.

Their mortgages are available on all major residential property types, including single-family homes, condos, townhomes, and multi-unit properties.

You can get both a fixed-rate or adjustable-rate mortgage, in a variety of different loan terms ranging from 10 to 30 years.

ConsumerDirect Mortgage Rates

Another positive to ConsumerDirect Mortgage is the fact that they let you price out daily mortgage rates right on their website.

Simply click on today’s rates from the top menu once at their website and fill out the short form to see how they’re priced.

You can get rates for all types of different loan programs at once, along with different rate and fee combinations to determine the best approach.

As noted, most of their borrowers take advantage of lender credits to create a no cost loan, meaning nothing is charged out-of-pocket.

In terms of lender fees, they appear to charge a $675 loan origination fee, which is pretty low relative to other lenders.

From what I saw, they were pretty well priced for a variety of different loan types, including adjustable-rate mortgages like the 5/1 ARM, which is a rarity these days.

They may not offer the very lowest rates out there, but seem to be a super close second in many scenarios.

ConsumerDirect Mortgage Reviews

One thing Consumer Direct Mortgage isn’t short of is good reviews. They’ve got lots from all the different ratings websites.

At Zillow, they have a 4.73-star rating out of a possible 5 from more than 800 customer reviews, which is super solid given the large sample size.

Quite a few of those reviews indicated that the interest rate and/or closing costs were lower than expected.

On LendingTree, they have an equally impressive 4.8-star rating from over 230 reviews, and a 94% recommended rating, meaning most past customers would vouch for them.

At Google, they have an even better 4.9-star rating from 100+ reviews, and at CreditKarma a 4.5 out of 5 from 50 reviews. They also have a 4.2-star Bankrate score.

Lastly, they are an accredited business with the Better Business Bureau and currently hold a perfect ‘A+’ rating based on customer complaint history.

Additionally, they have a 4.72-star rating out of 5 from over 100 customer reviews on the BBB website, which is a really high score for the complaint-driven BBB website.

In summary, ConsumerDirect Mortgage appears to be a highly-liked mortgage lender with excellent customer satisfaction.

And if their mortgage rates are also on point, they could be a good choice for a homeowner, especially someone looking to refinance an existing mortgage.

They may not be as favorable for home buyers due to their lack of physical locations, though these days working remotely doesn’t seem to be an issue for most borrowers.

ConsumerDirect Mortgage Pros and Cons

The Pros

  • Offer a digital mortgage application
  • Can apply for a mortgage directly from their website
  • Say they offer a 100% paperless loan process
  • Lots of loan programs available
  • Licensed to do business in 49 states
  • Excellent reviews from past customers
  • A+ BBB rating, accredited company
  • They service their own loans
  • Backed by a large, publicly-traded depository bank
  • Knowledge center and mortgage glossary on their website

The Cons

  • Do not offer USDA loans
  • Not available in Maryland
  • Limited physical locations

(photo: Joris Leermakers)

Source: thetruthaboutmortgage.com