"The borrower gets a low interest rate, commensurate with the interest of a conforming loan, and the bank mitigates its risk to some degree, " said Laurie Stewart, the bank's president and CEO.

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This is a form of heightened scrutiny, though informal and less severe than some other options, and looks at a bank's capital and risk management, loan quality and liquidity.

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Risk aversion also adds to interest rate costs on short term bank loans, and with Russia considered a risk investment, loan costs inevitably rise.

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By offering insurance on mortgages, the FHA is taking some of the financial risk off of the shoulder of a mortgage lender like Deutsche Bank which might not want to offer loan to just anyone.

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Lest it be accused of loan sharking, Sanwa Bank points out that the venture is aimed at untapped middle-income, middle-risk consumers (apparently it is already getting calls from school teachers and tax inspectors) who cannot borrow money at banks but flinch at traditional consumer-finance rates.

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