round trip transaction n.— «According to prosecutors, Stockman lied to banks about the firm’s financial condition, inducing them to loan the company money it couldn’t repay. He engaged in “round trip” transactions that...
liar’s loan n. money borrowed from a financial institution under false pretenses, especially in the form of a “stated income” or “no-doc” loan which can permit a borrower to exaggerate income. (source: Double-Tongued...
liar’s loan n.— «You rarely hear anything about individual borrowers who tell little white lies, the ones who obtain so-called “liar loans,” but they’re just as prevalent, if not more so. A young New Jersey couple, “the...
liar’s loan n.— «Over half of subprime mortgages are stated-income loans, loans which the industry often refers to as “liars loans.” The question is, who’s lying? According to a survey of over 2,000 mortgage brokers, 43% of...
starvation corner n.— «In 1945 opponents of the American Loan denounced its acceptance as “an economic Munich,” to which [John Maynard] Keynes retorted that the alternative was “starvation corner...
cram down n.— «if a debtor owned a car for which the loan was worth more than the car itself, the court was allowed to do what’s called a “cram down”—or matching the debt to the car’s value.» —“Just Creeping...