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13 Dec 2018, 4:15 pm by Joe Glantz
If the property is in a flood zone, then the loan may be denied. [read post]
11 Dec 2018, 3:00 am by Liz Dunshee
Also note that the OCA Staff is assessing comments on the auditor independence “loan” rule – final rulemaking is expected in 2019. [read post]
10 Dec 2018, 3:08 am by Peter Mahler
Justice Schechter did find, however, that the fiduciary breach claim was defective insofar as it alleged that the defendants loaned funds to the LLC at an excessive interest rate, since section 3.3 of the Operating Agreement expressly governs the interest rate on such loans, and also in regard to the alleged self-dealing contract between the LLC and defendants’ separate company, the propriety of which is governed by section 5.7. [read post]
Common issues TR18/5 identifies include: incomplete record keeping; inconsistent handling of vulnerable customers; inadequate reviewing arrangements; narrow quality assurance processes; lack of offering alternative options for the repayment of arrears; and barriers to effective engagement. [read post]
4 Dec 2018, 1:54 pm by Staff Attorney
  According to the company’s SEC filings, Peaks Co-Optivist invests in discounted corporate debt, senior secured term loan and equity-linked debt securities of public and private companies that trade on the secondary loan market for institutional investors and provide distributions to investors. [read post]
4 Dec 2018, 9:16 am
(Pix credit: Mexico: López Obrador and a memorable speech in the Zócalo: “With the people everything, without the people nothing” (Full text))I have been writing about the most interesting speech delivered to the representatives of the Mexican state assembled in Congress at an gathering to which a large number of foreign representatives were also in attendance. [read post]
29 Nov 2018, 11:58 am by Wolfgang Demino
In 2008 TERI filed for bankruptcy when it became clear that it would be unable to cover the mounting losses due to high rates of delinquencies on earlier vintages of loans that were in repayment.The poor quality of the most recent [highly subprime] vintages originated in 2007 just before the big crash (NCSLT 2007-1, 2007-2, 2007-3, and 2007-4) did not yet have to be recognized because most of the borrowers were still in in-school deferment and couldn't therefore default under… [read post]
15 Nov 2018, 4:00 am by ccollins
” According to a news release by the US Attorney’s Office for the Northern District of Georgia, which was published by the US Department of Justice, the federal government is alleging that UBS: • Misled investors about the quality of billions of dollars worth of Alt-A and subprime mortgage loans that were backing 40 RMBS deals. [read post]
13 Nov 2018, 8:50 am by Len Feltoon
The traits of the certified counselors are critical to our service quality. [read post]
11 Nov 2018, 4:03 pm by Wolfgang Demino
He deserves special attention on this blog because he wrote two of the three Houston appellate opinions in recent student loan collection cases brought by the National Collegiate Student Loan Trusts (NCSLT). [read post]
9 Nov 2018, 11:42 am by Ben Vernia
As detailed in the complaint, from 2006 through 2007, UBS misled investors about the quality of billions of dollars in subprime and Alt-A mortgage loans backing 40 RMBS deals. [read post]
31 Oct 2018, 9:10 am by Simon Lovegrove (UK)
The ECB has identified the key drivers of risk in the banking sector are: geopolitical uncertainties; the stock of non-performing loans (NPLs) and potential for a build-up of future NPLs; cybercrime and IT disruptions; potential repricing in financial markets; the low interest rate environment; banks’ reaction to new and existing regulations; euro area economic and fiscal conditions; cases of misconduct; developments in real estate markets; structural business challenges; and non-bank… [read post]
30 Oct 2018, 8:00 am by Len Feltoon
One of the best qualities of our benefit program is that employers can choose the options. [read post]
30 Oct 2018, 7:40 am by zamansky
How much one can borrow depends on the quality and safety of the collateral. [read post]
23 Oct 2018, 7:57 am by J. Dana Stuster
Bloomberg has reported that Erdogan is working behind the scenes to pressure Saudi Arabia to remove MBS from the role of crown prince and replace him with someone less reckless, or at least secure favorable loans from the Saudi government. [read post]
22 Oct 2018, 3:59 pm by Ben Vernia
  The United States further alleged that UAMC improperly incentivized underwriters and knowingly failed to perform quality control reviews, which violated HUD requirements and contributed to UAMC’s submission of defective loans. [read post]
18 Oct 2018, 12:30 pm by ccollins
Unfortunately, many investors lost money because banks sold them mortgage-backed securities backed by poor quality or faulty loans prior to the housing meltdown. [read post]