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...
repo market n.— «Barb at 321Gold.com keeps track of Federal Reserve Bank Temporary Reserves, known as the repo market, which are merely the interaction between (theoretically) somebody who needs some very short-term money for some reason...
desking n.— «What’s known as desking software allows the dealer to compare programs against each other to find the best loan, depending on each customer’s credit application.» —“DealerTrack Network Smooths Auto Buying” by...