net branching n.— «Under the scenario, NARES was one of several shell corporations that operated under the name of “Pacific Bancorp.” The owners and directors of Pacific Bancorp granted franchise rights to do business in North Carolina to...
obsessive housing disorder n.— «As Washington grapples with the current mortgage crisis, advocates from both parties are already warning the feds not to relax their commitment to expanding homeownership—even if that means reviving the...
REO n.— «R.E.O. is industry lingo for “Real Estate Owned,” the term that bankers assign to homes they have taken in a foreclosure. Reomac is the industry group that serves the mortgage default trade, specializing in selling the busted-up...
spendulus n.—Gloss: The Obama administration’s economic stimulus package. «That’s Kimball’s take on President Obama’s stimulus package, or as he likes to call it, “the spendulus package.”» —“Bypass businessman says stop paying...
hit a number v. phr.— «Inserra knows how intense the pressure to inflate values can get. Three years ago, he found himself battling one of his largest clients. The bank’s senior vice president in charge of mortgage lending tried to get...
hydraulicking n.— «It’s not unheard of, particularly in the area of investment apartments and the practice of same-day selling, when a property is bought and sold by a middleman with a friendly valuer and a gullible end purchaser. The...