Joint Center for Housing Studies Harvard University
... During the early stages of the crisis, in 2007 and the first part of 2008, public policy was mostly concerned with impending rate resets on ARMs. As the crisis progressed, however, the spike in early payment defaults made clear that increasing numbers of homeowners could not afford their monthly mor ...
... During the early stages of the crisis, in 2007 and the first part of 2008, public policy was mostly concerned with impending rate resets on ARMs. As the crisis progressed, however, the spike in early payment defaults made clear that increasing numbers of homeowners could not afford their monthly mor ...
SECURITIZATION AND MORAL HAZARD: EVIDENCE FROM A
... retain it on its balance sheet, with securitization it could sell that loan to a secondary market buyer that would issue securities backed by the loan (usually bundled in a pool with many other loans).1 This process was thought to distribute the risk of default among disperse investors, provide the ...
... retain it on its balance sheet, with securitization it could sell that loan to a secondary market buyer that would issue securities backed by the loan (usually bundled in a pool with many other loans).1 This process was thought to distribute the risk of default among disperse investors, provide the ...
Can Local Long-term Institutional Ownership
... loans by serving as a signal that fills the gap in geography-related soft information. We also expect the LLTIO effect on loan pricing to be more salient when conflicts of interest between creditors and shareholders are unlikely. Otherwise, a gain to the latter could be synonymous with a loss to the ...
... loans by serving as a signal that fills the gap in geography-related soft information. We also expect the LLTIO effect on loan pricing to be more salient when conflicts of interest between creditors and shareholders are unlikely. Otherwise, a gain to the latter could be synonymous with a loss to the ...
Probability of Default for Microfinance Institutions
... missing typically indicate that the information is difficult to obtain. This information should therefore not be included in the final model » Factors must be intuitive. Experienced credit analysts should be familiar with the factor and its relationship with credit risk given the credit culture in w ...
... missing typically indicate that the information is difficult to obtain. This information should therefore not be included in the final model » Factors must be intuitive. Experienced credit analysts should be familiar with the factor and its relationship with credit risk given the credit culture in w ...
Enforcement Actions and Bank Loan Contracting
... enforcement actions may reduce income and increase costs significantly for disciplined banks. Section I reviews the institutional background on enforcement actions and develops the hypotheses to be tested regarding the relationship between enforcement actions and the cost of bank loans. Section II d ...
... enforcement actions may reduce income and increase costs significantly for disciplined banks. Section I reviews the institutional background on enforcement actions and develops the hypotheses to be tested regarding the relationship between enforcement actions and the cost of bank loans. Section II d ...
Does the Purpose of a Loan Matter?
... Yet, there exists limited knowledge regarding the relationship between loan proceeds use and the composition of the non-price components of loan contracts. For example, it is unclear whether certain covenants are more prone to appear in loans designated for one specific purpose relative to another. ...
... Yet, there exists limited knowledge regarding the relationship between loan proceeds use and the composition of the non-price components of loan contracts. For example, it is unclear whether certain covenants are more prone to appear in loans designated for one specific purpose relative to another. ...
BY USING THIS LETTER, YOU ARE NOT ENTERING INTO A
... entered into and maintained on terms consistent with an arms' length dealing. If pursuing this option we note that the ATO state in the guideline: If SMSF trustees have entered into an arrangement which does not meet all of the 'Safe Harbour' terms set out in this Guideline, whilst the trustees are ...
... entered into and maintained on terms consistent with an arms' length dealing. If pursuing this option we note that the ATO state in the guideline: If SMSF trustees have entered into an arrangement which does not meet all of the 'Safe Harbour' terms set out in this Guideline, whilst the trustees are ...
Are banks still special when there is a secondary market for loans?
... a borrowing firm, and specifically, is the borrowing firm’s stock price reaction on the first day of trading of its existing loans positive or negative? This is important since prior studies on bank specialness (see Section I for details) have only analyzed borrower stock price reactions at loan ori ...
... a borrowing firm, and specifically, is the borrowing firm’s stock price reaction on the first day of trading of its existing loans positive or negative? This is important since prior studies on bank specialness (see Section I for details) have only analyzed borrower stock price reactions at loan ori ...
When are consumer loans collateralized in emerging markets
... Theoreticians have argued that collateralization is a useful tool in resolving asymmetric information problems associated with both adverse selection and moral hazard and providing respite against default and bankruptcy loss. Empirical evidence based on accounting data supports these arguments for c ...
... Theoreticians have argued that collateralization is a useful tool in resolving asymmetric information problems associated with both adverse selection and moral hazard and providing respite against default and bankruptcy loss. Empirical evidence based on accounting data supports these arguments for c ...
keycorp reports first quarter 2016 net income of $182
... $.26 per common share, for the first quarter of 2015. During the first quarter of 2016, Key incurred mergerrelated expense totaling $24 million, or $.02 per common share, compared to $6 million in the fourth quarter of 2015. Excluding merger-related expense, earnings per common share were $.24 for t ...
... $.26 per common share, for the first quarter of 2015. During the first quarter of 2016, Key incurred mergerrelated expense totaling $24 million, or $.02 per common share, compared to $6 million in the fourth quarter of 2015. Excluding merger-related expense, earnings per common share were $.24 for t ...
The role of information asymmetry and financial reporting quality in
... traders into public information in the secondary loan market. The effect of timely loss recognition on the effectiveness of debt agreements and its influence on the borrower’s information environment make the secondary loan market an excellent empirical setting in which to explore the importance of ...
... traders into public information in the secondary loan market. The effect of timely loss recognition on the effectiveness of debt agreements and its influence on the borrower’s information environment make the secondary loan market an excellent empirical setting in which to explore the importance of ...
Microfinance Consensus Guidelines: Definitions of Selected
... The evolution of the microfinance industry has led to a greater focus on the financial viability of microfinance institutions (MFIs). A variety of measurements have been used to measure MFI performance, many of which have been recognized as standard indicators. On closer examination, it is evident t ...
... The evolution of the microfinance industry has led to a greater focus on the financial viability of microfinance institutions (MFIs). A variety of measurements have been used to measure MFI performance, many of which have been recognized as standard indicators. On closer examination, it is evident t ...
Financial Crises and the Composition of Cross-Border Lending
... criteria as the BIS IBS. We also make several adjustments to obtain estimates of cross-border SLEs that are comparable to the BIS loan claims.5 Our study expands on two branches of the international banking literature. First, we add to studies on the globalization of banking (see Goldberg, 2009 for ...
... criteria as the BIS IBS. We also make several adjustments to obtain estimates of cross-border SLEs that are comparable to the BIS loan claims.5 Our study expands on two branches of the international banking literature. First, we add to studies on the globalization of banking (see Goldberg, 2009 for ...
Financial Crises and the Composition of Cross-Border Lending
... that may not be fully drawn over the life of the loan. Using data on the volume and maturity of syndicated loan deals, we estimate the stock of outstanding cross-border syndicated loans at the lender-borrower country-pair level using the same aggregation criteria as the BIS IBS. We also make severa ...
... that may not be fully drawn over the life of the loan. Using data on the volume and maturity of syndicated loan deals, we estimate the stock of outstanding cross-border syndicated loans at the lender-borrower country-pair level using the same aggregation criteria as the BIS IBS. We also make severa ...
Non-Owner-Occupancy Misrepresentation and Loan Default
... Results are quantitatively similar regardless of how we define Balance Mismatch with respect to both the sixmonth time window and the strictness of the balance match (within 2%, 5%, $100, etc.). ...
... Results are quantitatively similar regardless of how we define Balance Mismatch with respect to both the sixmonth time window and the strictness of the balance match (within 2%, 5%, $100, etc.). ...
National Foreclosure Settlement
... Motivations for servicers are difficult to predict. However, certain modifications receive higher credits, so servicers may be more likely to offer those types of modifications. “Consumer relief” granted between March 1, 2012, and February 28, 2013, will receive a 25% bonus credit, so motivation exi ...
... Motivations for servicers are difficult to predict. However, certain modifications receive higher credits, so servicers may be more likely to offer those types of modifications. “Consumer relief” granted between March 1, 2012, and February 28, 2013, will receive a 25% bonus credit, so motivation exi ...
What can a lender learn from a loan application?
... than in relation to a claim of unconscionable dealing at general law. 29 However, some similar factors will be relevant to the courts’ decision. In particular, courts have held that the lender’s knowledge of the injustice30 will be relevant to the exercise of the court’s discretion to grant relief u ...
... than in relation to a claim of unconscionable dealing at general law. 29 However, some similar factors will be relevant to the courts’ decision. In particular, courts have held that the lender’s knowledge of the injustice30 will be relevant to the exercise of the court’s discretion to grant relief u ...
the credit channel in japan: resolving the supply versus demand
... to choose one answer from \accommodative," \not so severe," and \severe", the DI does not contain information provided by those answering \not so severe." Suppose that 45 % of the rms answer \accommodative" and 55 % answer \severe." In this case, the DI is calculated as ;10. The same value can be ...
... to choose one answer from \accommodative," \not so severe," and \severe", the DI does not contain information provided by those answering \not so severe." Suppose that 45 % of the rms answer \accommodative" and 55 % answer \severe." In this case, the DI is calculated as ;10. The same value can be ...
form 6-k securities and exchange commission - corporate
... 2 ROAE: Return on Average Equity = Net income distributable to shareholders divided by average shareholders’ equity 3. Net operating profit from reporting segments: Net interest income + Net fee and commission income + total financial transactions, net - provision for loan losses. These results excl ...
... 2 ROAE: Return on Average Equity = Net income distributable to shareholders divided by average shareholders’ equity 3. Net operating profit from reporting segments: Net interest income + Net fee and commission income + total financial transactions, net - provision for loan losses. These results excl ...
Frequently Asked Questions
... physicians exist? The Regents Physician Loan Forgiveness Award Program Amount/Service Period: up to $10,000 per year for two years Basic Eligibility Criteria: A. Applicants must be licensed to practice medicine in New York State. B. Applicants must have completed a professional residency program wit ...
... physicians exist? The Regents Physician Loan Forgiveness Award Program Amount/Service Period: up to $10,000 per year for two years Basic Eligibility Criteria: A. Applicants must be licensed to practice medicine in New York State. B. Applicants must have completed a professional residency program wit ...
The Economic Viability of Microfinancing in Pennsylvania
... 7. The Aspen Institute has estimated the cost of microfinancing programs acting as financial intermediaries to be $2,000 per loan (Corporation, 20092010). Sufficient state funding to intermediaries to help offset this cost is $500. Pennsylvania provides $7, with the majority of this money allocated ...
... 7. The Aspen Institute has estimated the cost of microfinancing programs acting as financial intermediaries to be $2,000 per loan (Corporation, 20092010). Sufficient state funding to intermediaries to help offset this cost is $500. Pennsylvania provides $7, with the majority of this money allocated ...
Valuation of Corporate Loans: A Credit Migration Approach
... more than the usage option, and the importance of this option increased over the timeframe of the sample. Finally, we show that loans for which the option values are high are more likely to prepay. The next section of this paper provides an overview on how CreditMark values a loan. It presents some ...
... more than the usage option, and the importance of this option increased over the timeframe of the sample. Finally, we show that loans for which the option values are high are more likely to prepay. The next section of this paper provides an overview on how CreditMark values a loan. It presents some ...
Contemporaneous Loan Stress and Termination Risk in Please share
... The CMBS market is one of the younger and less-developed securities markets in the U.S., but has become a rapidly growing source of capital to commercial lenders. The CMBS market currently has around 200 pools comprised almost exclusively of new loans that were originated since the market decline of ...
... The CMBS market is one of the younger and less-developed securities markets in the U.S., but has become a rapidly growing source of capital to commercial lenders. The CMBS market currently has around 200 pools comprised almost exclusively of new loans that were originated since the market decline of ...
Guidelines Small Business Micro Loan Program
... borrower for this process. Once an application is submitted, no activities can be performed on the project until completion of the ERR as this would be a choice-limiting action under NEPA regulations. Required DUNs number, verification of not being on federal debarred list, and insurance. All busine ...
... borrower for this process. Once an application is submitted, no activities can be performed on the project until completion of the ERR as this would be a choice-limiting action under NEPA regulations. Required DUNs number, verification of not being on federal debarred list, and insurance. All busine ...
BANCOLOMBIA SA (Form: 6-K, Received: 11/21
... 1. This report corresponds to the interim unaudited consolidated financial statements of BANCOLOMBIA S.A. and its subsidiaries (“BANCOLOMBIA” or “The Bank”) which Bancolombia controls, amongst others, by owning directly or indirectly, more than 50% of the voting capital stock. These financial statem ...
... 1. This report corresponds to the interim unaudited consolidated financial statements of BANCOLOMBIA S.A. and its subsidiaries (“BANCOLOMBIA” or “The Bank”) which Bancolombia controls, amongst others, by owning directly or indirectly, more than 50% of the voting capital stock. These financial statem ...