Word: loaned
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Dates: during 1990-1999
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Direct lending has been touted as a revolution in the field of education loans.The program eliminated the costly intermediary role now played by banks and loan guaranteeing agencies...
Borrowers allege that Dime set up a loanprogram in the late '80s called the "no documentloan program" which ensured loan approval within48-hours. Vital information about those who tookout loans was not verified under this system
Partnering with prestigious New York brokeragehouses, Lennar has invested millions of dollars inexpanded portfolios whose assets range fromcommercial real estate to bad mortgages fromfailed savings and loan institutions...
Anderson said Dime loan representativesencouraged borrowers to put in false numbers or tosign a blank application, which the loan officerswould later furnish with false numbers...
Candee testified in the Segal case that he wasaware of negative amortizations as a feature ofthe "no doc" loan program. Through this scheme,Kelleher said, Dime encouraged widespread secondmortgages in Massachusetts, New Hampshire,Connecticut and elsewhere...