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Republicans question loan to now-defunct Solyndra

Thu, 09/15/2011 - 18:19 by Anter Prakash Singh

The $528 million loan to Solyndra Inc., solar penal manufacturing company, has become cause of concern for Obama administration following company's collapse.

Fed survey claims banks relaxing loan conditions

Tue, 08/16/2011 - 17:45 by Anter Prakash Singh

The quarterly survey of senior loan officers conducted by the Federal Reserve found that the banks continued with the trend of easing out lending standards. Some of the respondent even claimed a slight rise in the demand for industrial and commercial loans along with the loans for commercial real estate.

Joint venture, bridge loan to help Saab restart production

Tue, 07/05/2011 - 15:01 by Jamie Anderson

In what may be considered as a fresh leash of life for the besieged Saab Automobile, Swedish Automobile, its owner, bagged a $35.9 million bridge loan from hedge fund Gemini Investment Fund.

Teens' Guide to Buying First Car

Sun, 10/24/2010 - 11:20 by Gauri Retarekar

Your decision to buy a car surely means a lot to you, but you need not create hullabaloo about it. Rather, simply follow The Money Times' step-by-step guide to simplify your car buying decision.

Foreclosure moratorium may harm fragile economy--SIFMA

Tue, 10/12/2010 - 11:56 by Anter Prakash Singh

With many politicians nationwide seeking a temporary halt on foreclosures, investor groups and industry experts have expressed concern about the ban.

Man faked robbery to avoid repaying loan

Sat, 10/09/2010 - 00:58 by Prince damin

Boynton Beach, Fla. -- Police in Florida said a 25-year-old man told them he falsified an armed robbery to avoid repaying a $400 loan from his mother.

Boynton Beach Police said Leon Murray told officers he was robbed of $400 cash, a bank card and a .45-caliber Taurus handgun Sept. 20, but he later admitted during questioning that he invented the story because of the debt, the South Florida Sun-Sentinel reported Friday.

Investigators said the handgun Murray reported stolen had been pawned several months earlier.

Murray was charged with one count of making a false report to law enforcement and arrested on an unrelated misdemeanor warrant, police said.

Copyright 2010 United Press International, Inc. (UPI).

Building a Desirable Credit Score

Sun, 09/26/2010 - 15:33 by Gauri Retarekar

It is your credit score that will eventually determine your credit worthiness and make your access to loans and other kinds of financial instruments either easy or difficult.

Shinhan Financial Group suspends CEO

Tue, 09/14/2010 - 21:57 by Prince damin

Seoul -- South Korea's Shinhan Financial Group Co. has put its chief executive officer on suspension on charges he was involved in granting unethical loans.

The financial group's board of directors suspended Shin Sang-hoon on a 10-1 vote with another director abstaining, South Korea's Yonhap News reported Tuesday.

The bank has charged that Shin approved $82 million in loans in 2003 through 2009 to a company in which a relative had an interest, but there is an undercurrent of board strife behind the suspension, as well.

The firm's chairman, Ra Eung-chan is under investigation by regulators in an inquiry that he suspects was triggered by Shin.

Some suspect Ra is behind the CEO's suspension, the news agency said.

Understanding Tightened Mortgage Availability

Wed, 09/08/2010 - 17:24 by Anonymous

It's no secret that mortgage availability in the United States has been down in recent years. Prior to the global financial crisis, mortgages were a lot easier to get hold of, but now it seems you need a good credit score to stand a chance, and even that is no guarantee of success.

Mortgage delinquency rates mixed

Fri, 08/27/2010 - 10:26 by Prince damin

Washington -- The Mortgage Bankers Association said Thursday delinquency rates on mortgages dropped in the second quarter but remain elevated compared to a year ago.

Delinquencies, which count loans at least one payment past due, dropped to a seasonally adjusted 9.85 percent, 21 basis points below the first quarter, but 61 basis points above the second quarter of 2009.

The non-seasonally adjusted delinquency rate, however, rose 2 basis points to 9.40 in the quarter, the MBA said.

One basis point is equal to 0.01 percent.

HAMP shortfall: 48% homeowners drop out of program in July

Sun, 08/22/2010 - 15:10 by Jaspreet Virk

Just as the foreclosure activity in the nation is surging, so is the drop out rate from federal government's loan modification program. In fact, the Obama administration's Home Affordable Modification Program (HAMP) has definitely fallen short of target.

Lending in Europe trending back to normal

Thu, 07/29/2010 - 02:16 by Prince damin

Brussels -- The European Central Bank said demand for loans rose from both consumers and businesses in the second quarter in the 16 nations that use the euro as currency.

In a survey of 120 banks in the eurozone, lenders indicating demand for loans was up rose from minus 13 percent in the first quarter to minus 2 percent in the second, while lenders indicating loan demand from consumers -- mostly for mortgages -- jumped from minus 2 percent to 24 percent, The Financial Times reported Wednesday.

Deutsche Bank economist Gilles Moec said a trend towards normal lending would continue in the next six months, but "not spectacularly, because the situation is still stressed."