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Learn About BofI Holding Inc & Settlement Payments
BofI is a holding company that is publicly traded in California. The initials BOFI stand for Bank of Internet Federal Bank. BofI is a federally chartered bank with Office of the Comptroller regulations. They handle a lot of different financial products all through the internet. The famous NASDAQ stock market is where the company is traded. The Global Select Market with a Ticker symbol of BOFI as per the companies initials.
The company is based in San Diego County in it's most populus city and namesake for the county San Diego. Gregory Garrabrants is the current CEO and their Vice President is Roy Koldaro who previously worked for Seneca One in Rockville/Bethesda, Maryland and is a large part of the growth division in the structured settlement division at the internet bank.
Anfed Bank Structured Settlement Broker
The division that focuses on structured settlement and annuity purhcases as well as lottery winnings is called Anfed Bank. These lump sum payments are transferred to the annuitant after selling a portion or all of their payments that they had received as a result of a lawsuit or personal injury case. Anfed on top of their secondary market purchasing business also focuses on personal banking services through savings and checking accounts as well as lending operations for automobiles and mortgages.
The bank does not lend or purchase payments in Mexico, Europe, or Canada currently just the continental USA as well as Alaska and Hawaii. All deposits are Federal Deposit Insurance Company for up to $250,000 which was raised from $100,000 back in 2008.
Bofi certainly has a disruptive model both for banking and settlement purchasing. Their management team has product lines with 20% growth and with their lottery buying division, million dollar plus multifamily investment lending deals, and annuity transfers that all have very aggressive spreads sets their stock apart from competitors like J.G. Wentworth where it claims to have $4.5 billion dollars in assets. Their business is seen as a low risk high reward with large spreads coming out of their sellers pockets to appease their shareholders.
Since 2011 their factoring division has grown more than 4 fold to over $120 million dollars today.
If you are looking to sell your payments to Anfed bank or BofI then let us know what the offer is so we can help you to determine if that is the best method of trasnferring your payments.