Millions of small borrowers mobilised into debtors' associations and refused to pay as a matter of principle.
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Furthermore, according to Klein, Somolend is already doing lending, matching both banks and individuals to small borrowers, 40 percent of whom are nonprofits.
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Other Kenyan banks, particularly Kenya Commercial Bank, also are expanding their customer bases by targeting small borrowers in the informal economy, but none have caught up with Equity, which pioneered the idea of signing the unbanked in Kenya and fortified its position with the nation's largest network of storefront banking agents.
LibertyPointe of New York advertises that its loan officers will travel to see small-business borrowers.
In January, some small-business borrowers at Bank of America were asked to repay their credit lines in full.
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While a small number of borrowers nationwide have been foreclosed upon in error, the vast majority of paperwork errors occur in cases where the borrower has defaulted and essentially abandoned any claim to the property.
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The site has only been in operation since mid 2007, but as of now, Lending Club claims to have a 0% default rate and says that only a small fraction of borrowers--0.012% --have made late payments (30 days or more).
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The average of the two cities is plus four percent, but while we would expect to see few if any defaults in Boston, we would likely see some in Atlanta, as borrowers with small down-payments would go underwater.
"The mortgage market has reached a plateau with no real movement in the number of deal for borrowers with a small deposit, " said Michelle Slade at Moneyfacts.
Many of the loans backed by the FHA are held by borrowers who make a small down payment, which can be as little as 3.5 percent of the purchase price.
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While the number of private jumbo borrowers pursuing cash out refinancing is small, experts say it's on the rise.
Therefore some lenders have been putting up the cost of mortgages for borrowers who can put down only a small deposit.
Lenddo, a Hong Kong company now targeting borrowers in Colombia and the Philippines, makes small loans for "life-improving" purposes such as education, medical emergencies and home improvement.
By providing liquidity to issuers of consumer asset backed paper, the Federal Reserve facility will enable a broad range of institutions to step up their lending, enabling borrowers to have access to lower cost consumer finance and small business loans.
But now borrowers are saddled with higher debt repayments and are vulnerable to relatively small increases in interest rates.
Now China is one of the bank's top borrowers, and in December it became a donor, on a small scale.
Borrowers could pick how much to pay each month, including amounts so small they inflated the loan balance and practically insured the mortgage would blow up.
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These lend to a host of borrowers that the market shuns but politicians deem worthy, from farmers, to small firms, to projects in the southern prefecture of Okinawa.
Banks should be graded on how well they keep lines of credit open to solvent borrowers, as well as on their willingness to boost lines of credit to small and medium-size businesses that have sound plans for expansion.
Now, with the economy in the dumps, bankers rightly see that borrowers' risks are great and, in the near term, their profit opportunities small.
The bank, along with most of the other major UK High Street lenders, has also been found culpable in recent years of mis-selling unnecessary payment protection insurance to mortgage borrowers, and overly complex, over-priced interest rate and currency hedges to small businesses.
Even before the credit crisis, the Milken Institute reports that small firms have faced a number of practical challenges in accessing credit, ranging from potentially riskier borrowers and under-funded lenders, to a lack of historical performance data and misperceptions about investment opportunities.
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