Word: defaulters
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Dates: during 1980-1989
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...addition to some dismal visuals, Kerouac deals with the controversial side of Jack Kerouac--the leader by default of the generation of writers and artists called the Beatniks--no better than have have recent print biographies...
Lenders like their new concoction because the loans extend for just half the term of the traditional 30-year mortgage. That means there is less risk that a borrower will default or interest rates will suddenly rise. Home buyers are enticed by the loan's interest rate, which is usually between one-half and five-eighths of a percentage point less than that on a 30-year mortgage. The current rate on a 15-year loan: 11.6%. Borrowers also are pleased that their interest payments by the end of the loan are less than half those of a 30-year...
...financial industry was perhaps even more spooked than consumers were. Community's subsidiary is delinquent in payments on $1.4 billion in mortgages and other securities that it sold to about 110 large investors and thrifts. A default on those securities could cause collapses among weaker institutions. It also could bring as much as $300 million in losses for mortgage-insurance companies, like Milwaukee's MGIC Investment, that have issued coverage on the certificates. In the longer term, a default could discourage investors from putting money into mortgages, and possibly drive up the cost of home financing...
Despite the high amount of guaranteed student loans (GSL) made by Harvard. Tefft said the default rate of holders is "very minor, definitely below the national average." The default rate of its student holders is under 5 percent, half the national rate of almost 10 percent...
...default rate has remained steady over recent years, Hastings said, but because about $7 billion is loaned each year the gross amount of unpaid loans rises by about $700 million yearly. Total debts have risen recently because of an increase in GSLs distributed between...