Word: mortgagee
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Over the past few months, we have heard banker after Wall Streeter after mortgage lender declare that market conditions are the worst since they got into the business. Some go even further. "The worst market crisis in 60 years," pronounced investor George Soros. "The worst financial crisis since 1931," declared...
The main reason Visa can contemplate an IPO now is that, for all the troubles, large parts of the global financial system continue to function just fine. If you have bad credit and want a mortgage or you run a private-equity firm and want to finance a $15 billion...
This was not remotely the case during the darkest years of the Great Depression, 1931 and 1932. In those days, financial activity of all kinds--mortgage loans, IPOS, consumer lending, commercial lending--almost entirely ceased. The result was true disaster. The economy shrank 26% in three years. Unemployment hit 25...
The slumping economy has sent the banking system into panic mode, making it tough for even people with the best credit rating to get a good interest rate. So a rising number of folks looking to consolidate debt, buy an engagement ring, finance their small business or pay off a...
It might sound like a setup for another subprime-mortgage debacle. But so far, Lending Club's default rate is less than 0.5%. That's partly because P2P members are motivated to pay back or lend to an actual person rather than a big bank. Since May 2006, Marilyn Paguirigan...