Over the course of a few years, Dan Gilbert has purchased approximately 3 million square feet of commercial space in downtown Detroit, spent almost a billion dollars to acquire and renovate buildings, and moved the entire Michigan-based Quicken Loans staff into these core few blocks.
They have a spread on the interest rate they charge the other person over what they pay you and this pays for the buildings, the unpaid loans, the staff and everything else.
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Private-equity firms have hired extra staff to deal with the increased due diligence required, and in some cases have taken on bank staff who are familiar with the individual loans in question.
Correspondent lenders employ their own processing, underwriting and closing staff, and use warehouse lines to fund loans.
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Estrada's chief of staff, Ronaldo Zamora, ordered a review of all loans of more than 10 million pesos given by government banks in the final months of the Ramos presidency.
Four-fifths of the value of its loans goes to large companies (those with over 500 staff).
His staff hit upon another idea: Pledge the existing endowment as collateral for loans from banks, and lend the proceeds to students at normal rates.
It was my job to train her, and the automated library system requires staff to remember the processes, such as warnings about fines, overdue books, recalled loans etc. and to deal with them accordingly.
It says its managers, staff and contractors are compensated on an hourly or salary basis and never by the number of loans reviewed.
Also on Friday, General Electric unit WMC Mortgage said it would stop making loans to certain types of borrowers and will cut 460 workers, or 20% of its staff.
Also on Friday, General Electric (nyse: GE - news - people ) unit WMC Mortgage said it would stop making loans to certain types of borrowers and will cut 460 workers, or 20% of its staff.
City made multi-million-dollar loans to its executives to buy the bank's stock, then forgave them while forcing more junior staff to repay their borrowings.
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