The loan blog

Search-Autoparts.com Loan may fall short of saving dealershipsSearch-Autoparts.com, OHIn its waning days in office, the Bush Administration extended a lifeline in the form of a $17.4 billion short-term loan to GM and Chrysler culled from the $700 billion financial industry assistance package. But for many struggling American automotive … More: continued here

Instant decision loan: Easy and instantSearch By Headlines (press release), NVThe amount offered in instant decision loans ranges from £100 to £1500 for short term period of time say within 14 to 31 days. To lessen repayment worries, the borrowers must adjust the repayment date with upcoming payday. This will help the borrowers … More: continued [...]

Seattle Times Bellevue loan officer sentenced to 7 years for mortgage fraudSeattle Times, United StatesBellevue loan officer Christopher Brooks, whose own attorney said he could be a "poster child" for the nation's mortgage mess, was sentenced Friday to seven years in federal prison and ordered to pay nearly $2.5 million in restitution for running what …Ex-loan [...]

ICRA downgrades Tata Motors Finance ratingBusiness Standard, IndiaICRA has also assigned the rating of A1 to the enhanced Short term Fund based limits of Rs 7.85 billion (enhanced from Rs 5.65 billion) and Rs 10.50 billion Short term loans of TMFL. This is the highest credit quality rating assigned by ICRA to … More: continued here

SYS-CON Media Magna defaults on PNC Bank loan tied to Pimlico, Laurel tracksBaltimore Sun, United StatesBy Andrea K. Walker | andrea.walker@baltsun.com Magna Entertainment Corp. said last night that it had defaulted on a loan for Pimlico Race Course, Laurel Park and the Maryland Jockey Club, but that the financial institutions were not yet going to take [...]

HispanicBusiness.com SBA Reconsiders 'Goodwill' Loan ProvisionWashington Post Blogs, DCThe agency this month notified banks offering its most popular loan program that effective March 1, the SBA would limit "goodwill" financing to 50 percent of the loan amount or a maximum of $250000. The agency does not make loans itself but works with …Disaster loan deadline March [...]

AFP Putting off the real day of reckoning?Los Angeles Times, CAOne is that the programs simply don't acknowledge that with loans sharply underwater, folks have little incentive to maintain their mortgages even when payments are being lowered to something more affordable. It has been claimed that past studies have …Schumer:2/3 Of Mortgage Servicers Agree To Foreclosure [...]

House prices put mortgages in reachSeattle Post IntelligencerBy AUBREY COHEN Nationwide home prices have fallen far enough, when combined with current low mortgage interest rates, to get payments back in line with wages, the chief economist for the National Association of Realtors said Friday in Bellevue. …Decline in US home resales worse than fearedFinancial Timesall [...]

BofA carries loans $44 bln above market valueReutersN: Quote, Profile, Research) is carrying loans on its balance sheet marked at more than $44 billion above their fair value, the company said in its annual report filed with US regulators on Friday. The bank said it ended 2008 with $886.2 billion in …Bank of America Loans [...]

Seattle Times Ex-loan officer gets seven years in fake-buyer fraudsSeattle Post IntelligencerBy HECTOR CASTRO A former Bellevue loan officer who pleaded guilty last year to conspiracy to commit wire fraud in a mortgage scheme was sentenced Friday to seven years in prison, a longer term than even prosecutors had sought. …Mortgage-fraud defendant sentenced to seven [...]