That system included the likelihood the person would repay or default on a loan based on statistics rather than the judgment of a loan officer or individual lender.
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Ongoing relationships with community banks have also helped Sageworks develop a statistically based model predicting the probability that, within a year, a business will default on a loan.
One company, Pasadena-based Paula Financial, is in technical default on a bank loan.
Default on a home loan and you could be on the street.
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If you default on a home equity loan, the worst they can do is take your home.
The simultaneous contracts could be arranged to replicate any agreed interest rate while providing legal protection against default on one side and loan sharking on the other.
With that promise in hand, the bank would make the purchase and immediately sell it onto the buyer at a mark-up, agreeing the buyer could pay, say, three months after goods are delivered--in effect, trade finance at a fixed rate with legal protection against default on the one side and loan sharking on the other.
The prior estimates based on samples had understated loan default rates and overstated recoveries from loans in liquidation.
As long as real estate prices continued to rise, troubled homeowners could avoid default on their mortgages by selling their properties to cover the loan obligations.
On average, managers now estimate that the loan default rate by principal amount will end 2012 at 1.8%.
Paired with that would be a prohibition on a mortgage lender from declaring a loan in default if an installment plan has been obtained.
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Earlier this week, a FICO study revealed that student loan debt has increased dramatically and the default rates on these loans are now much higher than previous years.
The current student loan default rate is 8.8%, the highest on record.
Hungary was given a 20bn-euro standby loan by the IMF in 2008 to prevent it having to default on its debts.
Hungary was given a 20bn euro standby loan by the IMF in 2008 to prevent it having to default on its debts.
The Fed, which used actual FHA loan data from 2007-2009, predicts there will be a 30% default rate on these loans within five years.
Unable to refinance, the group is asking the lender to accept a discounted payoff on the loan, according to Trepp, which also showed the mortgage flagged for imminent default.
The newspaper reported that ReconTrust, a division of Countrywide Financial, filed a notice of default related to a loan for McMahon's house in Los Angeles County Recorder's Court on Feb. 28.
The bank that lent money to her for the retrofit on condition that LEED Gold certification is awarded, declares a default and requires her to immediately repay her loan in full.
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Additionally, despite the Centers for Medicare and Medicaid Services (CMS) requiring that a state indicate it is able to repay its CO-OP loan, one estimate indicates that as many as 40 percent of CO-OPs will default on the planning loans and 35 percent will default on the solvency loans.
We were repeatedly advised that liquidity in wholesale markets depended on lending quality: good loan books would continue to attract funding when bad loan books began to default.
On the one hand, a combination earnings growth and liquid capital markets will depress default activity across the general leveraged loan population, keeping the rate inside the historical average of 3.4%.
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