Word: interesting
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Dates: during 2000-2009
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...meantime, the discussion has turned to ways to encourage lenders and servicers to modify their own loans. Most, if not all, firms are already doing this, and some, such as JP Morgan Chase, have announced major new efforts, since it is generally in a lender's best interest to keep borrowers in their homes, even if they're paying less. Foreclosure is such a costly process, a lender might easily only recoup half of what it's owed. In August, the Federal Deposit Insurance Corporation instituted an aggressive loan-modification effort at the failed IndyMac Bank, and that program...
...servicers, found that of modifications completed last August and September, 42% kept the monthly payment the same and 18% actually raised it. An analysis of 3.5 million sub-prime and Alt-A loans by Valparaiso University's Alan White found that 68% of modified loans tacked on unpaid interest and fees, adding an average $10,800 to the balance due. A lender that caps the existing interest rate on an otherwise adjustable mortgage or reamortizes missed payments over the life of the loan might legitimately view its efforts as giving ground to a struggling borrower - but that doesn't mean...
Years before President Drew G. Faust created the Task Force on the Arts in 2007 to examine the role that arts plays at Harvard, the Freshman Seminar Program was already responding to a perceived change in the student body: their increased interest in artistic endeavors.The Task Force, comprised of faculty, students, and professional artists associated with the Harvard community, released a report last December emphasizing the value of the arts in research institutions such as Harvard. According to Faust, the findings called for an end to the “‘curricular banishment of the arts...
...creating a new "affirmative defense" for parents who made a "reasonable attempt" to provide medical care for their child. "We want to have an affirmative defense where parents relying on Christian Science treatment are given a fair opportunity to explain why they believed their action was in the best interest of their child," says Farkas. "Our church loves children and we want to protect children...
...jobs of its 53,000 employees. In a statement released on Feb. 2, Satyam claimed to have retained 95% of its top 20 clients and to have won 15 new contracts in January. At least four groups including Indian construction and engineering giant Larsen & Toubro have shown interest in acquiring a controlling stake...