Word: loan
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...addition, the President proposed cuts in some aid programs. He called for a reduction in more than half of the Federal contribution to the Perkins Loan Program, a loan program for low-income students...
Some student leaders also praised the council'said in cost-cutting. The council is currentlyexploring a plan to loan out College-owned vansfor student group...
Exhibit A is Udolf, a career federal prosecutor in the Justice Department's Miami office on loan to Starr in Washington. It was Udolf who helped negotiate the immunity deal with Monica Lewinsky that Starr has backed away from. But it was Udolf's role in a 1987 Georgia case that had Starr's office in confusion last week. In that case, he was found to have violated a defendant's civil rights when he was Georgia state prosecutor. The defendant, Ronald Reeves, was arrested on a weapons offense, held for several days in jail without being charged...
...with an estimated 30 million to 40 million potential customers who have few other places to turn for cash, sub-prime lenders have been Wall Street darlings. Borrowers whose chief alternatives ranged from pawnshops to loan sharks gladly jumped at the chance to pay nosebleed rates of 10% or more for a home-equity loan (vs. roughly 7% at a bank), if that was what it took to get money. Depending on points, fees, insurance and other charges, the effective interest on some sub-prime loans, particularly for autos...
...Tree seems likely to ride out its troubles. The company employs 5,700 people at 200 locations across the country and holds a whopping 30% of the lucrative market for financing mobile homes, making it the sector's largest lender. In addition, more than 90% of its $28 billion loan portfolio is secured by mobile homes, houses and other customer assets. Such backing is rare in the sub-prime industry and enables Green Tree to recover a relatively high proportion of losses when customers default on their payments. And despite problems such as the downgrading of much of Green Tree...