Archive for August 2008

monty asked: I’m reading some documents I ran accross online which references “prohibited WAN practices and practices” when covering anti-predatory lending and high-cost mortgage loans. I’ve searched every wehre i can think of to locate the definition of “WAN” but have yet to find anything.

Emilio O asked: I am not sure about anybody else but I hate these idiots that buy houses they cant affored and the government forces me to bail them out. I am a father and I made good decisions and now I am stuck using my hard earned money to bail these idiots out that [...]

Jane A. Smith asked: In June 2007 the federal financial regulatory agencies together issued a Statement on Subprime Mortgage Lending.  This statement contained references to an earlier document issued by the Comptroller Office’s for Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision.  [...]

Running Man asked: Does anyone know of a hard money or a private investor that would lend in the state of WI? I am looking at residential and small commercial properties, loan amounts as low as 50k. I am looking to buy and hold. I am looking for terms of 3 to 6 months and [...]

Jane A. Smith asked: The current housing market is disastrous. More than that, it is also something of a puzzle. There are several elements that have worked together here. If you understand each of these elements, you’ll see how they fit together, and how the puzzle has grown. We should hardly be surprised that subprime [...]

intotrashmail asked: My parents are considering selling a valuable painting to avoid having to cover the insurance on it. I would prefer to keep it in the family — does anyone know about lending paintings to museums?
How it works and if they cover the insurance on them?
If not museums anyone [...]

Mike S asked: I read the following in an article by George Will:
There has been too much risky lending to unqualified (”subprime”) borrowers, who were living riskily.
Corrections are necessary: When too much housing has been built, the market must clear the inventory. Corrections can be painful: Housing prices have declined.
Can someone elaborate on this for [...]

Rose asked: How much does someone make who is an assiant vice president of commercial lending for a bank?

Ivan Mantelli asked: The worldwide lending industry is a multi-billion dollar industry where people borrow from banks, financial institutions and other private lenders. In the last couple of years, the lending industry has gone through an evolution and has given way to social lending as the new and promising mode of lending. Also known as [...]

Kris Koonar asked: Simply put, asset based lending is a loan that is secured in exchange for the assets of the company like accounts receivable, inventory and other balance sheet asset items as collateral. Also known as asset based financing, it a straightforward concept which emphasizes on matching the company’s assets to the borrowing needs. [...]