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MSNBC
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But "there was always push back" from sales executives when he advocated more conservative lending, Zimmer said. Like most big lenders, well over half of the loans made by People's Choice came not from its own employees but from independent mortgage broke..
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MSNBC
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The FBI on Tuesday said it is investigating 14 companies for possible accounting fraud, insider trading or other violations in connection with home loans made to risky borrowers.
Agency officials did not identify the companies under investigation but s..
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MSNBC
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The U.S. Internal Revenue Service said on Thursday it may restrict tax preparers such as H&R Block Inc and Jackson Hewitt Tax Service Inc from offering refund loans to customers because doing so could encourage fraud.
The agency's proposal sent shares..
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MSNBC
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Lenders are also posting huge losses as the easy money lending spree that fueled the housing boom continues to unwind. This month alone many major banking companies including Citigroup, Merrill Lynch, Morgan Stanley and Bank of America have reported billi..
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BBC News
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The underlying cause of the current global financial crisis is a system in which there’s little personal responsibility for lending decisions.
Here’s how it all works (or, as we now see, how it doesn’t work).
In the US, some half a million mor..
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BusinessWeek
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Financial institutions the world over use Libor—short for the London interbank offered rate—to set the interest paid on everything from mortgage loans to complex financial instruments. But now questions are being raised about whether the rate has been..
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BusinessWeek
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As traditional sources such as banks and government agencies pull back, peer-to-peer lending is entering the student loan market
Because of the credit crunch, conventional lenders are making it tough for any but the most creditworthy borrowers to quali..
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MSNBC
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For students who need to borrow for college, federal loans are almost always the best deal. But a new study finds that more than 1 million community college students — a disproportionate number of them minorities — can’t get such loans because their..
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MSNBC
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With mortgage defaults surging and politicians urging the industry to do more, six lenders agreed to widen their effort to help borrowers of all loans — not just subprime.
The plan, called Project Lifeline, is to be announced Tuesday by the Treasury..
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BusinessWeek
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Even banks that dodged the subprime bullet face losses from loans based on homes now at risk
Subprime mortgages have taken a lot of blame for banks' big losses. But there's another problem lurking behind the mess: home-equity lending.
Buoyed by risi..
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MSNBC
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The plan targets a looming crisis. Many subprime mortgages came with so-called teaser rates—interest rates that start out low but quickly reset to become significantly higher. Many of those loans—more than $350 billion worth, in fact—are going to re..
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MSNBC
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Credit-market tremors — like the ones linked to the housing crisis — are beginning to show up in the $85 billion student-loan market.
So far, there is no apparent shortgage of loans available to college-bound Americans. But analysts say rising defa..
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MSNBC
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A government proposal to freeze interest rates on millions of loans made to risky borrowers reflects political and financial realities of the housing market crisis, analysts say.
Until now, President Bush favored government restraint. But with investor..
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MSNBC
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Despite a dip in foreclosures last month, it appears unlikely that the wave of bad loans that have forced record numbers from their homes will peak any time soon. And despite efforts by lenders, politicians and homeowners to stem the tide, borrowers tryin..
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SF Gate
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As with most guarantors, it can be good for EdFund's business if financially struggling student borrowers default on their loans. But it doesn't have to be that way.
Great Lakes Higher Education Guaranty Corp. in Wisconsin is an exception when it comes..
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BBC News
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Rosneft has amassed a $22bn war chest to buy the remaining assets of Yukos, after securing a string of low-interest loans from several Western banks.
Russia's state-owned oil firm secured $13bn, while its wholly-owned subsidiary RN-Razvitiye had borrow..
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Los Angeles Times
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Bad news from lenders that write high-risk home loans continued today with Fremont General Corp. in Santa Monica saying it has warned a "significant" number of its 2,400 mortgage employees to expect pink slips in 60 days.
Fremont shut down its Brea-bas..
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Washington Post
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Residents of majority-black Prince George's County are much more likely to be saddled with high-interest home loans than residents of predominantly white areas in the rest of the region, placing them at greater risk of financial distress and foreclosure...
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ABC News
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No matter the type of loan, more homeowners had difficulty making their loan payments and became delinquent in the last three months of last year.
According to the Mortgage Bankers Association's National Delinquency Survey released on Tuesday, 4.95 per..
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