Word: loaned
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Dates: during 1980-1989
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...swift growth has come largely through acquisitions. Last year, for example, GM bought Norwest Mortgage of Minneapolis and Philadelphia's Colonial Mortgage group for $335 million. That made GMAC the nation's second-largest mortgage lender, with $22 billion in commercial and home loans on its books. Also in 1985, Chrysler acquired E.F. Hutton's commercial lending subsidiary for $125 million, and Ford paid $493 million for San Francisco-based First Nationwide Financial Corp., the holding company for the eighth-largest savings and loan...
...auto companies believe that these operations are natural extensions of their traditional car-loan business. GMAC, which has 8 million customers with car and truck loans, last week announced that it will mail letters to many of its Michigan borrowers, suggesting that they also apply for a home mortgage...
Many lenders are finding it difficult to manage the sudden growth of their business. At San Diego's Home Federal Savings & Loan, mortgage applications are running at nearly five times the normal volume. Boston-based Commonwealth Mortgage is processing $40 million a week in mortgages, more than four times last year's level. Many banks that usually process a loan application in three weeks now require up to two months. Another problem: a shortage of real estate appraisers, who are needed to approve loans...
Deep cuts proposed by Reagan in housing programs and urban aid are avoided, although the Community Development Block Grant program would be reduced by 10 percent. Several government loan portfolios would be sold to raise money...
...this movie is a generic myth constructed from a whole slew of great tales of yesterday, you, far away and thither. Playing on an anticipation of the viewer's weak memory, Legend offers us a couple of migrant dwarves straight from Middle Earth, a little-used golden sword on loan from King Arthur, a satanic but tender-hearted Evil (Tim Curry) lifted from Goethe, an outdoorsy-type hero borrowed from Edgar Rice Borroughs (Cruise), a couple of white unicorns stolen from the planet of Pern and a fairy queen cloned from Tinkerbell. Now, 'tis true that no one story...