I chose a regulation regarding the Making Home Affordable Program Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance; Capital-Residential Mortgage Loans Modified Pursuant to the Making Home Affordable Program. [Docket ID: OCC-2009-0007] 1. State the administrative agency which controls the regulation. Explain why this agency and your proposed regulation interests you (briefly). Will this proposed regulation affect you or the business in which you are working?
Premium Administrative law Mortgage loan Mortgage
payment assistance programs‚ and government funded educational opportunities (i.e. the Home Ownership Center of Greater Cincinnati)‚ the real estate and mortgage lending industries will continue to flourish. However‚ there are some unethical lending practices that are threatening the housing industry as a whole. Those involved in the mortgage lending process have some duty to the borrower. They are expected to perform their specific duties in an ethical manner and have some form of direct or
Premium Mortgage Predatory lending Mortgage loan
1932 President Hoover signed the Federal Home Loan Bank Act to establish a series of discount banks for home mortgages. This would assist in increasing the likelihood of Americans owning a home and not feeling that they were restricted because of financial pressures. Fannie Mae‚ Ginnie Mae‚ Freddie Mac were created to help bail out banks that had a growing number of defaults in mortgages. These three enterprises made it possible for banks to offer mortgages to riskier clients who normally would not
Premium United States President of the United States Great Depression
and credit crisis of 2007-2009. a. Mortgage b. Subprime loan c. Asset write-down Answer: Mortgage – is a contract whereby a borrower provides a lender with a lien on real property as security against a loan. Mortgage is important during the housing credit crisis because it is one of the major causes of the problems that financial institutions are facing during the crisis. The financial institutions (lenders) that owned subprime loans/ mortgage were in trouble because a lot of borrowers/home
Premium Bank Debt Credit union
was cheap. House finance‚ car finance‚ credit cards markets were at boom. Because of surplus money and cheap loans people were spending more and asset markets were flourishing at rapid speed‚ creating asset bubble. Financial institutions were offering mortgage loans and they over valued the asset prices in calculating the value of asset which was to be used as a security in mortgage loans. When the default rates increased because of their loose credit policies and fragile risk management‚ the
Premium Corporate governance Subprime mortgage crisis Financial services
firm which specialized in subprime mortgages. The company originated‚ sold‚ and serviced subprime home mortgage loans. New Century was structured as a real estate investment trust (REIT) and was composed of two operating divisions. The Wholesale Loan Division‚ known as New Century Mortgage Corporation‚ comprised 85% of the firm’s loan originations‚ while the Retail Mortgage Loan Division operated under Home123 Corporation. New Century Mortgage Corporation operated in 33 locations
Premium Interest Mortgage Mortgage loan
Elvis Attakora-Amaniampong Department of Real Estate and Construction Management Division of Building and Real Estate Economics 334 Han-Suck Song and Professor Hans Lind Accra-Ghana‚ Residential development‚ Acquisition‚ Development and Construction Loans. Master Thesis number Supervisors Keywords DEDICATION This work is dedicated to God‚ Almighty‚ Amen. 2 ACKNOWLEGEMENT Again‚ to God‚ be the glory! I wish to express my unreserved gratitude to Professor Hans Lind and Han-Suck Song‚ my
Premium Real estate Debt Mortgage loan
Executing Strategy 15. Countrywide Financial Corporation and the Subprime Mortgage Debacle © The McGraw−Hill Companies‚ 2011 Case 15 Countrywide Financial Corporation and the Subprime Mortgage Debacle Ronald W. Eastburn Case Western Reserve University Angelo Mozilo‚ founder and Chairman of Countrywide Financial Corporation‚ was the driving force behind the company’s efforts to become the largest real estate mortgage originator in the United States and‚ according to some‚ was also the driving
Premium Mortgage Subprime mortgage crisis Mortgage loan
interpret the terms of mortgage loan financing purchase of properties compute the monthly mortgage loan payment and mortgage insurance premium compute the rental return on property investment 2 Selection Criteria of Mortgage Loan The following factors should be considered when choosing mortgage loan plan: 1. Interest Rate 2. Borrowing Period 3. Installment Loan Repayments 4. Cash Rebate 3 Interest Rate In Hong Kong’s mortgage loan market‚ there are three different
Premium Interest Investment Debt
banks and other mortgage lending firms? Yes‚ I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable‚ not only for the government but also for potential home owners as well as those in construction‚ etc. Prior to the intervention only short-term‚ nonamortizing loans with lower LTV ratios were available and the result was many loans being defaulted on. The intent of the intervention was to assist in minimizing defaulted loans on short-term
Premium Bank Debt Subprime mortgage crisis