Word: lender
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...GUARANTEED Insurance Loan Program (GILP)--established under Title IV of the Higher Education Act of 1965--was originally intended to induce banks and other private lenders to provide student loans. Under GILP, the Office of Education guarantees loans in full. It will cancel loans in case of death or total disability; provide interest subsidies for low-income students; and pay the lender an interest supplement intended to make student loans as attractive as alternative investments...
...rise of Japan as a global lender and investor seems healthy. Asia's richest country certainly has the financial power to play a far larger role in the world economy than that of exporter. Many foreign companies and governments could use a new source of capital. Direct Japanese investment could create needed jobs in quite a few countries, not least...
Already indicted were seven full-time FHA employees, two part-time FHA employees, eight real estate firms and ten lawyers. Shockingly, the indictments also named Dun & Bradstreet, long the ultimate arbiter of the credit status of businesses and individuals, and one of the firm's executives. The main lender indicted was Eastern Service Corp., owned by Harry Bernstein and his wife Rose, one of the biggest and until now among the most respected mortgage dealers on Long Island...
...especially impressive record considering that Karl, now 61, started only 14 years ago, with $250,000 borrowed from friends, to compete against the Federal Government in a field in which private enterprise had failed dramatically. What MGIC does essentially is guarantee that it will pay any losses a mortgage lender may suffer if the homeowner cannot meet his monthly payments and the house must be foreclosed. After the Depression wiped out poorly financed private insurers, Government agencies, principally the FHA, were the only source of mortgage guaranty insurance, which most bankers and other lenders require on all mortgages carrying less...
...helped spur the first surge of suburb building in the early postwar years. But in the 1950s, savings and loan associations, the chief source of housing credit, began to shun FHA-insured loans because the agency had a rigid ceiling-5% when MGIC started-on the interest that lenders could charge to home buyers. By offering private insurance, Karl enabled S and Ls to obtain higher interest rates on secure loans and still cut the down payment below 20%. Moreover, Karl successfully slashed through the FHA's red tape. MGIC guarantees to approve or reject a home loan insurance...