Word: holderness
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...Other advantages of this solution are that it is universal and nondiscriminatory: every mortgage holder in the U.S. gets a break. Homeowners without mortgages also benefit, as foreclosures directly lead to deflated home values, and the number of foreclosures will be reduced considerably. At the same time, the banks' assets will have a greater inherent value: their balance sheets will improve, and they are likely to begin lending sooner than they would with the government's current strategy...
...there are also plenty of people who might be able to keep their homes with a lower interest rate or a longer loan period. In many cases, this is in the best economic interest of the mortgage holder, since up to half of a house's value can be lost in foreclosure. And yet often--especially when the loan has been chopped up and dispersed to investors around the globe with a third-party servicer in charge of collecting payments--that's not happening. "Servicers don't have the right incentives," says Christopher Mayer, professor of real estate at Columbia...
...Strata's collateral as the backing against which it could write credit default swaps (CDS), that is, insurance contracts based on whether some other bonds get paid back. As a writer, or seller, of CDS contracts, Strata investors get a regular fee, much like a annual amount any insurance holder would pay, for guaranteeing the buyer of the insurance against losses on the bonds. All told, Bank of America wrote CDS contracts worth $20 million based on the debts of as many as 75 companies. Add the fees from the insurance contracts to the interest Strata was already receiving...
...they didn’t disappoint, setting a new meet record with a time of 3:19.18.“I was feeling pretty good about our guys [going into the final race],” Saretsky said. “We had Jon Dingus, who was the record holder at his school in the 400, running off as a leadoff leg. Those other guys just did a great job.”“We just needed to beat Northeastern in order to win but to do it in a dominant fashion and to win the meet...
...hearing room was a reminder of Holder's uncommon roots: there was his wife Sharon Malone, a prominent obstetrician whose late sister Vivian Malone Jones faced down George Wallace to integrate the University of Alabama in 1963; his brother Billy, who became a New York Port Authority cop; his three young children, who may never know the indignity of racial profiling; and his mother Miriam, 85, who brought up two sons to revere the law. "We taught them to help where you can and right the wrongs that you see," she says. As in the old days, that...