reverse redlining n.— «In a practice called “reverse redlining,” the lenders placed borrowers in targeted minority communities into loans they could not afford, later forcing them to go into foreclosure.» —“Memphis...
gapping n.— «The practice is called “gapping.” It’s when colleges offer students financial aid packages beneath what they need to attend—often driving them to other revenue sources like a private loan or, if they’re lucky, a...
car czar n.— «The loan program calls for the installation of a government official to monitor the money, and to keep track of whether GM, Chrysler and Ford—if Ford does need to tap into it—stay on track to restructure their business not...
balloon addendum n.— «The friend asked her if she was aware of something called a “balloon addendum.” The addendum states that in 40 years, when she is in her 80s, she will have to make one payment for the entire remaining...
reborn renter n.— «In addition to prospective buyers who are waiting it out, there also is the “reborn renter,” a term used to describe people who have lost their house to foreclosure and are now back on the rental market...
mark to myth n.— «Banking auditors are watching carefully to ensure bank valuations based on in-house mathematical models are not, in the phrase coined by Warren Buffett, “mark to myth.” In the backwash of the credit crisis, U...