would now count against a bank’s CRA rating.” (Lawrence H. White‚ “How Did We Get into This Financial Mess?‚” Cato Institute‚ November 18‚ 2008). HUD also “actively pushed Fannie Mae and Freddie Mac into backing the enormous expansion of the nonprime mortgage market…. To fund their enormous growth‚ Fannie Mae and Freddie Mac
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for valuation and evidence of stocks at your residence/ godown Warehouse receipt‚ duly endorsed ‚ if stocked at warehouse. SECURITY : Loan sanctioned against goods stored in Farmer’s godown: Primary : Hypothecation of stocks. Collateral : Mortgage / Charge over Land or Third Party guarantee for loans above Rs. 50‚000/-. Loans sanctioned against Warehouse Receipts (WHR) : Primary : Pledge of stocks. Collateral : No collateral is required for loans upto the maximum permitted limit of
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Greetings Duke Manor Management Staff This Bruce Harvill‚ Building 3011 Apt. D‚ writing to you. My caregiver‚ Linda and I have been living in Duke Manor for the past 8 years or so‚ and we call it home. For the last year or so‚ we have been hearing rumors that when our lease expires in November‚ we will be forced to move to either a different apartment or out of the complex. However‚ I have also heard that in some cases‚ the lease is extended for one more year. Which of these statements are the
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Arranging a family trust is one of the more beneficial estate planning methods. Also referred to as a living trust‚ this method requires people to transfer ownership of property to avoid probate and accelerate estate reconciliation. While the process of arranging a family trust is relatively simple‚ it’s advisable to get help from an estate lawyer. Oftentimes‚ people are uncertain of the legalese contained in documents and unsure of how to go about the process of funding their trust. Working with
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Renter’s Insurance covers the personal effects and third party liability of an apartment or house renter. Smart consumers evaluate comparative offerings from insurance companies based on the nature of coverage. Some elements that are important are the amount of deductible‚ maximum benefit‚ per occurrence maximums and the specific events that are excluded in the coverage. If a tenant realizes that personal possessions have been damaged or ruined owing to a fire or a break in‚ he cannot expect the
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mergers and could even be hit with lawsuits. To avoid such severe consequences‚ banks began to lower their standards for issuing loans and required little documentation of the borrower’s information. These loans were mostly given out in the form of mortgage backed assets and the brokers who approved these loans would bundle the new‚ risky subprime loans with other prime loans and resell them as investments to other institutions. Most individuals would use one of these new loans to buy a house they
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having trouble meeting the bank’s strict guidelines for obtaining a mortgage? A lease with purchase option is a viable alternative for anyone looking to buy a home. Understanding what this purchase option really is and what it involves will help you make an informed decision. Since the housing bust of a few years ago‚ lenders have toughened up their lending guidelines‚ making it harder for many people to qualify for a mortgage. Their debt-to-income ratio may be too high. Their credit scores may
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Question 1 (5 points) Qin deposits his first paycheck in the bank. The annual interest rate is 12%‚ but interest is compounded quarterly. The EAR is: 12.00 12.55 12.68 12.44 Question 2 (5 points) Gloria is 35 and trying to plan for retirement. She has put a budget together and plans to save $4‚800 per year‚ starting at the end of this year‚ in a retirement fund until she is 65. Assume that she can make 7% on her account. How much will she have for retirement at age 65? 499245 144000
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MenuItem 10: (Topic 10) Medium- to long-term debt Question 1: Manufacturer Limited is seeking a five-year term loan from its bank. The bank manager has indicated that a loan can be provided and will be priced at the bank’s base rate‚ plus a margin. Which of the following is not a determinant of the margin to be paid by the company? A: the debt to equity ratio of the borrower B: the borrower’s past loan-repayment performance C*: the term structure of interest rates D: the assets available to
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How the Deregulation of Banks Caused the Great Recession The recession of 2008‚ which we are only just starting to come out of‚ happened as a result of a few major factors. The primary factor was the deregulation of banks during the Bush administration. Another factor was that banks offered loans without looking into the financial stability of borrowers or businesses. Also‚ credit unions‚ savings and loans‚ and banks entered into competition with each other. The Security and Exchange Commission
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