Word: loans
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Dates: during 2000-2009
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...driven by a return to reasonable lending: people aren't buying more than they can afford to because banks won't let them. When the Robertses first met with mortgage planner Iva Deobald last year, she told them to go away, pay down their credit-card and student-loan debt and then come back with a better set of financials. Deobald says, "I'm back to what I used...
...could charge as much as the market would bear, claiming that they had to charge more for bad credit risks. You can argue that's the democratization of credit, but it's in the interest of credit-card companies to keep people under the yoke. We've just swapped loan sharks for legitimate loan sharks. (See pictures of TIME's Wall Street covers...
...government should do "more to reward medical students who choose a career as a primary-care physician and who choose to work in underserved areas instead of a more lucrative path." As part of health reform, the Administration wants more money for the National Health Service Corps, which offers loan forgiveness to primary-care providers - including nurse practitioners as well as doctors - who agree to work in rural and remote areas. But even if these measures encourage more medical students to pursue careers in general practice, it will take years to have a real impact. Nurse practitioners, on the other...
...false alarm. Rumors had swept the trading floor that China was going to tighten money supply. That night, the central bank reaffirmed its loose monetary policy that is meant to support economic growth and pledged to refrain from imposing loan quotas to control bank lending. The next day, the Chinese banks that were said to be cutting back on credit denied they would do so. On July 31, the Shanghai index rebounded 2.7%, the biggest rise in two months; China stocks in July rose 15%, the largest monthly gain since 2007. (See pictures of China's infrastructure boom...
...Furthermore, new research suggests that a key assumption made in creating monetary incentives for loan modifications - that economic self-interest would make firms eager to modify loans - may be wrong. Economists at MIT and the Federal Reserve banks of Boston and Atlanta have found that about 30% of borrowers who become seriously delinquent on their payments later catch up. A big deal has been made of the redefault rate - the high number of borrowers who wind up missing even modified payments - but the new finding about the large percentage of loans that "self-cure" indicates that servicers might actually...