About the same time Ugly also sold to Garcia a unit that made loans to third-party dealerships.
They made loans against assets that were worth less than had been claimed, or that did not even exist.
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The current mortgage crisis was caused in part by lenders who made loans to risky borrowers who couldn't afford down payments.
The bank, like any modern one, held deposits and made loans, dealt in bills of exchange, changed money and conducted business abroad.
India at that time was the World Bank's biggest client, and the bank made loans for health projects conditional on population control.
Mariposa hired Mr. Russell to manage its portfolio of stocks, purchased real estate which it leased, and made loans requiring annual interest payments.
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They made loans against future production ahead of the planting season.
Before this partnership, we made loans in a handful of states, and our customers loved the product, measured by our repeat rates as well as traditional customer satisfaction ratings.
The banks, while creditors themselves because they made loans to Enron, may also wind up being liable to other creditors because of their role in selling Enron shares and debt.
When it was a subsidiary of AIG, American General Finance, as Springleaf used to be called, issued bonds at interest rates of 5% to 7% and made loans at rates that often topped 10%.
According to the SEC, the Quantek hedge fund made loans to affiliates of Guerra and his Bultick Capital Markets Holdings that were not properly documented or secured, leading employees to later re-create the missing related-party loan documents, but misstate important loan terms and backdate materials to cover up the situation.
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The bank faces substantial further losses on poor quality loans it has made, especially property loans made by the Britannia Building Society, with which it merged in 2009.
Similarly, repayment of Eximbank loans made in 1986 for a satellite communication earth station and loans made in 1987 are also overdue.
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The number of loans made by the company quadrupled to almost 2.5 million, taking the total number of loans made since launch in 2007 to six million.
Many of the write-downs will be made on loans originated by Countrywide Financial Corp.
Germany has made expensive loans to troubled countries, but does not like big fiscal transfers.
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The result was that banks made new loans instead of calling in old ones.
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Guttentag suggests prohibiting lenders from charging many of the fees that have made subprime loans so profitable.
They each said they had made the loans at commercial rates of interest.
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More than 1, 300 banks and credit unions that had not made SBA loans since before the financial crisis are now lending again.
Loosening of the traditional distinction between banks and building societies that made mortgage loans helped power a housing bubble in the 1980s, Prof.
But that larger pool made smaller loans less attractive to banks.
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The Agriculture Department does not receive the paperwork from banks until after the grain is actually shipped, and department officials said they did not know who had made the loans.
The part of the business that sold cars and the part that made the loans were "two different cultures" when it came to credit quality, he says, and couldn't be welded effectively.
Considering the banks that made foolish loans to dishonest borrowers, the prudent were victimized by both sides for their tax dollars paying for the bailout of banks made insolvent by those same borrowers.
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