One case study found that it takes ten days for a bank to process a simple student loan that should take one day, because the bank has to print out the online forms and courier them to the applicant for signatures, then wait for them to be returned by post only to scan them back into digital form.
The method had been simple: take a loan and stop repaying after a couple of months.
The classic example of a non-recourse loan is a simple mortgage (if you sign a personal guarantee in addition to the mortgage, that changes the nature of the loan).
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An interest-free loan for new computers is a simple way to start.
But the bottom line is more simple than that: Bonds are a type of loan for which you can expect the return of your principal in time.
In other banking crises, including the collapse of America's savings and loan associations (thrifts) in the 1980s, a simple but effective model has usually been adopted.
The basic idea of credit is simple: you borrow money, pay interest to the creditor and ultimately repay the loan in good faith.
In those cases, black claimants' simple assertion that they had attempted to farm or had applied unsuccessfully for a farm loan was sometimes sufficient to collect a large payout.
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Sheridan nodded an early second-half header wide of the mark but the on-loan Celtic striker grabbed Motherwell's second in the 58th minute with a simple goal from close range after a Steven Hughes crossed broke into his path.
The worst mistakes of this crisis were arguably made in relatively simple areas of retail and commercial banking from the concentration of risk in the corporate-loan book of HBOS to Wachovia's kamikaze acquisition of Golden West, a Californian lender stuffed full of mortgage-shaped grenades.
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