Securitization and Predatory Lending
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The document discusses the issues of predatory lending and securitization. It notes that many subprime loans lacked proper underwriting and that predatory loans often target vulnerable groups. Securitization exacerbates predatory lending by supplying capital without sufficient due diligence or disclosure of loan quality. The document proposes legislation to impose assignee liability to help address these problems.
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The document summarizes several lending programs offered by the Federal Reserve Bank of San Francisco, including the Primary Credit program, Borrower-In-Custody (BIC) program, and Seasonal Credit program. The Primary Credit program provides short-term funding to depository institutions. The BIC program allows institutions to pledge loans as collateral for discount window advances. The Seasonal Credit program provides lines of credit for institutions that experience seasonal fluctuations in deposits and loans.
Imk Fina Reforms
The document discusses various concepts related to financial sector reforms including information asymmetry, financial repression, and measures taken to reform the Indian financial system. It explains how information asymmetry can lead to issues like adverse selection, moral hazard, and credit rationing. It describes how the Indian financial system was previously characterized by financial repression through high reserve requirements, interest rate controls, and credit allocation. Financial reforms introduced prudential regulations, deregulated interest rates and capital markets, and allowed greater foreign investment to address inefficiencies and improve resource allocation.
Complete Payday Advance Borrower Guide
Legislation seeing cash advances fluctuates widely between different nations and, within the united ...
Week-9 Bank RegulationMoney and Banking Econ 311Tuesdays 7 .docx
Week-9 Bank Regulation
Money and Banking Econ 311
Tuesdays 7 - 9:45
Instructor: Thomas L. Thomas
Capital Adequacy Management
Bank capital helps prevent bank failure
The amount of capital affects return for the owners (equity holders) of the bank
Regulatory requirement – Regulatory Capital – Tier 1 and Tier 2 Basle Rules
Economic Capital - What is this
2
Capital Adequacy Management:
Returns to Equity Holders
3
Traditional Economic Capital Value-At-Risk (VaR) View
Frequency of Occurrence / Probability
Mean/Average Expected Losses (m)
Unexpected Losses @ 99.9% confidence Level (s)
Economic Capital
Reserves
Value-at-Risk
VAR
Before we can develop adequate credit stress testing we need to understand the differences between traditional credit loss measures and what stress tests incorporate.
Aside form standard concentration and coverage analysis, a standard portfolio credit risk analysis typically employs a Value-at-Risk view.
Credit risk in this view generally follows a positive skewed distribution (by definition one cannot have negative defaults and thus a normal distribution is not applicable).
Reserves ALLL generally cover average expected losses over a horizon. In reality these are usually allocated to general reserves since most ALLL have two components: general reserves and specific reserves for known credits that are detraining.
Economic capital functions as a cushion against unexpected loss up to some confidence level. In this case 99.9% or a single “A” rating is the regulatory standard (once every 10,000 years)
In addition to a loss cushion economic capital represents the amount of the firm’s equity that is at risk which requires a return sufficient to cover the associated risk.
The shape of the curve or tail will then reflect the underlying credit risk of the portfolio or product.
However this view has some assumptions that can miss important risk elements.
The distribution is generally based on one variable PD in this case and does necessarily fully account for other correlated factors that when combined either change the tail or increase the likelihood of default.
Second, while the event may be rare, this methodology does not tell how severe or the magnitude of the event when it occurs beyond the confidence level prescribed for economic capital.
4
Old Measure: New Ones
RAROC - Risk Adjusted Return on Capital
EVA - Economic Value Added.
Hurdle Rate – What is it. How is it measured?
5
Time Line of the Early History of Commercial Banking in the United States
6
Historical Development of the Banking System
Bank of North America chartered in 1782
Controversy over the chartering of banks.
National Bank Act of 1863 creates a new banking system of federally chartered banks
Office of the Comptroller of the Currency
Dual banking system
Federal Reserve System is created in 1913.
7
Asymmetric Information and Financial.
Reputation andexaggerationadversesel preview (1)
This document summarizes a study examining the role of borrower reputation in mitigating adverse selection and moral hazard in the subprime mortgage market leading up to the 2007-2008 financial crisis. The study uses data from a major subprime lender to analyze the differences between full documentation and low documentation loans. It finds that while low documentation loans performed worse, this effect was strongest for low-doc loans to W2 borrowers who could have obtained full-doc loans. However, for self-employed borrowers who relied on low-doc loans for credit access, there was little difference in performance between loan types. This suggests reputation concerns constrained adverse selection and income exaggeration for self-employed borrowers on low-doc loans. The
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The document summarizes a GAO report on the emerging person-to-person lending industry and regulatory challenges. It finds that the three major platforms in the US facilitate loans between individuals, with Prosper and LendingClub making mostly consumer loans totaling $475 million, and Kiva facilitating $200 million in microloans. Current regulations aim to protect borrowers and lenders but come from multiple agencies. As the industry grows, new regulatory challenges may emerge.
Introduction to consumer lending
Here are the steps to calculate the debt burden ratio:
1. Monthly income before tax: 1500 JD
2. Estimated tax: 20% of 1500 = 300 JD
3. Monthly net income: 1500 - 300 = 1200 JD
4. Monthly debt payments:
- Credit card 1: 50 JD
- Credit card 2: 75 JD
- Car loan: 150 JD
- Total monthly debt payments: 50 + 75 + 150 = 275 JD
5. Debt burden ratio = Total monthly debt payments / Monthly net income
= 275 / 1200
= 23%
Therefore, the debt burden ratio for this applicant is 23%.
Saunders 8e ppt_chapter21
This document discusses credit risk management for financial institutions. It covers topics such as how financial institutions transform household savings into loans, the importance of credit risk management, credit quality problems over time, analyzing different types of loans including real estate, consumer, small business and commercial loans. It discusses tools for credit analysis like the five C's of credit, cash flow analysis, ratio analysis, Altman's Z-score model and Moody's expected default frequency model. The document is from a textbook on financial institutions by Dr. Muath Asmar from An-Najah National University.
FairLendingQ&Av10
This document summarizes questions and answers from a webinar on fair lending compliance.
Jerry Miller addresses questions on Regulation B requirements for commercial vs consumer lending, problems that can arise from using proprietary scoring models or FICO scores to decline loans, recommendations for using proxies for HMDA data fields, whether UDAAP applies to commercial lending, issues with charging flat loan processing fees, laws that apply to commercial lending regarding fair housing and lending, HMDA reporting requirements for loan purchases, discretion in pricing commercial loans, and differences between fair banking exams by the OCC vs FDIC.
Presentation
This document discusses unfair credit contracts and advocating for consumers. It provides examples of unfair mortgage refinancing and fringe lending practices. For mortgage refinancing, it describes how brokers often provide consumers with more credit than requested, resulting in equity skimming. It also discusses obligations to assess repayment capacity. For fringe lending, it notes short term high interest loans targeted at disadvantaged groups. The document concludes by outlining Consumer Action's campaign for responsible lending regulations and capacity to negotiate relief for consumers.
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The document discusses a program to stimulate bank lending and small business growth through the use of UCC insurance. It notes that commercial loan delinquencies, charge-offs, and losses grew significantly from 2006 to 2009, representing billions in losses. Industry experts estimate that 30% of future defaulted loans, representing $31 billion, will involve documentation errors that cause the lender to lose lien priority and collateral. UCC insurance could help avoid $25 billion of these losses by protecting lien perfection and priority. The document recommends legislation requiring independent verification of security interests over $2 million and urges use of UCC insurance to manage commercial loan risk and maximize recoveries.
Stimulating Bank Lending
The document discusses a program to stimulate bank lending and small business growth through the use of UCC insurance. It notes that commercial loan delinquencies, charge-offs, and losses grew significantly from 2006 to 2009, representing billions in losses. Industry experts estimate that 30% of defaulted loans over the next three years, representing $31.11 billion, will have documentation errors that cause the lender to lose lien priority and collateral. UCC insurance could help avoid $24.88 billion in losses by protecting lien perfection and priority. The document suggests legislative language requiring third-party verification of security interests over $2 million to improve loan quality and encourage lending.
The Legal Foundations of Financial Collapse
In 1984, in 1990 and in 2005 Congress passed laws exempting certain financial contracts from the standard provisions of the bankruptcy code. In each case, the effect of the law was to protect collateral securing the contract from those provisions of the bankruptcy code that allow a judge to review the claims of secured creditors and to protect the interests of other creditors whenever necessary.
The introduction of inequitable treatment into the bankruptcy code would be acceptable, if in fact the financial contract exemptions worked to protect the stability of the financial system. Recent experience indicates, however, that the special treatment granted to repurchase agreements and over the counter derivatives tends to reduce the stability of the financial system by encouraging collateralized interbank lending and discouraging careful analysis of the credit risk of counterparties. The bankruptcy exemptions also increase the risk that creditors will run on a financial firm and bankrupt it. Thus, the bankruptcy code has been rewritten to favor financial firms and this revision of the law has had a profoundly destabilizing effect on the financial system.
Bank Loans
The document discusses a study conducted on bank loans, analyzing data from 120 people who had taken out loans. Key findings included that having children, a bachelor's degree, and certain professions increased the likelihood of being approved for a loan. The level of education had the biggest impact, with over 50% of those with a bachelor's degree having received a loan.
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Risky Borrowers Or Risky Mortgages 10.2.2008
This document summarizes a study comparing the performance of loans from a community lending program (Community Advantage Program) to subprime loans for similar borrowers. The study found that for borrowers with similar risk characteristics, subprime loans, adjustable-rate mortgages, loans with prepayment penalties, and loans originated by brokers had significantly higher risks of serious delinquency than loans from the community lending program. This suggests that reckless lending practices, rather than simply riskier borrowers, played a central role in the subprime crisis. While the crisis caused beliefs that homeownership is not suitable for low-income households, the study concludes that responsible, community-focused lending can still make homeownership a viable asset-building option for
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Tim Weaver
This document discusses the shift from Keynesian economics to neoliberalism in urban politics and policy in the United States and Britain between 1976-2000. It argues that neoliberalism undermined cities' governing capacity and launched a new trajectory of political development that proceeded through two logics: neoliberalization by default through events like financial crises, and neoliberalization by design through targeted policy changes imposed by national elites. It provides examples of neoliberalization by design in London Docklands and neoliberalization by default through financial collapse and ideological shifts in Philadelphia.
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Penn Praxis has a plan for adding 500 acres of open green space to Philadelphia in the next four years. Their approach, informed by novel research by Penn scholars in areas ranging from real-estate economics to criminology, is a new way of imagining urban parkland.
The Park of a Thousand Pieces
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by Trey Popp
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Susan Covino's presentation from America’s Sustainable Future: How U.S. Cities Are Making Energy Work, an invitational conference of public-private partnership efforts from U.S. cities pursuing innovative energy management and smart grid initiatives. The assembled leaders in industry, research and policy-making will explore the diverse energy strategies emerging in Philadelphia and across the United States.
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"With the right policy moves—which we'll be exploring at the conference—Philadelphia can be a national leader in energy innovation," noted Susan Wachter, Penn IUR co-director.
The Benefits of Smart Grid Technology for Buildings, Cities, and Sustainability
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June 15, 2011
Audrey Zibelman's presentation from America’s Sustainable Future: How U.S. Cities Are Making Energy Work, an invitational conference of public-private partnership efforts from U.S. cities pursuing innovative energy management and smart grid initiatives. The assembled leaders in industry, research and policy-making will explore the diverse energy strategies emerging in Philadelphia and across the United States.
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"With the right policy moves—which we'll be exploring at the conference—Philadelphia can be a national leader in energy innovation," noted Susan Wachter, Penn IUR co-director.Michael Smith - Envision Charlotte
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Doug Laub - Living City Block
June 15, 2011
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Brewster McCracken - Pecan Street Project
June 15, 2011
Brewster McCracken's presentation from America’s Sustainable Future: How U.S. Cities Are Making Energy Work, an invitational conference of public-private partnership efforts from U.S. cities pursuing innovative energy management and smart grid initiatives. The assembled leaders in industry, research and policy-making will explore the diverse energy strategies emerging in Philadelphia and across the United States.
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Wayne Gardner - Pennsylvania Public Utility Commission
June 15, 2011
Wayne Gardner's presentation from America’s Sustainable Future: How U.S. Cities Are Making Energy Work, an invitational conference of public-private partnership efforts from U.S. cities pursuing innovative energy management and smart grid initiatives. The assembled leaders in industry, research and policy-making will explore the diverse energy strategies emerging in Philadelphia and across the United States.
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Chairman of the Federal Energy Regulatory Commission Jon Wellinghoff
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June 15, 2011
Chairman of the Federal Energy Regulatory Commission Jon Wellinghoff's presentation from America’s Sustainable Future: How U.S. Cities Are Making Energy Work, an invitational conference of public-private partnership efforts from U.S. cities pursuing innovative energy management and smart grid initiatives. The assembled leaders in industry, research and policy-making will explore the diverse energy strategies emerging in Philadelphia and across the United States.
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From the Penn IUR and Penn GSE sponsored conference:
“Preparing Today’s Students for Tomorrow’s Jobs in Metropolitan America: The Policy, Practice and Research Issues"
May 25-26, 2011
Organized by Laura Perna, a professor in Penn GSE, and Susan Wachter, a professor in Penn’s Wharton School, “Preparing Today’s Students for Tomorrow’s Jobs” explores the most effective institutional and public-policy strategies to be sure high school and college students and adult learners have the knowledge and skills required for future employment.
“The conference addresses such critical questions as: How do we define success with regard to the role of education in preparing students for work?” Perna said. “How well are different educational providers preparing future workers? What is the role of public policy in improving connections between education and work?
“It seeks to improve our understanding of several fundamental dimensions of this issue through insights from federal, state and local policy leaders, college administrators and researchers.”
Guest speakers include Eduardo Ochoa, assistant secretary of the U.S. Department of Education; former Pennsylvania Gov. Edward Rendell; Lori Shorr, chief education officer to Philadelphia Mayor Michael Nutter; Charles Kolb from the Committee for Economic Development in Washington, D.C.; Claudia Neuhauser from the University of Minnesota; Bethany Krom from the Mayo Clinic; and Harry Holzer from Georgetown University.
“Much recent attention focuses on the need to improve high school graduation and college degree completion. But, relatively less attention has focused on whether graduates and degree recipients have the skills and education required by employers,” Perna said.
The event is sponsored by the Penn’s Pre-Doctoral Training Program in Interdisciplinary Methods for Field-Based Research in Education, with funding from the U.S. Department of Education’s Institute for Education Sciences in collaboration with Penn’s Institute for Urban Research.
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#فهم_ماكو_درخ
3- دقة الكتابة والصور عالية جداً جداً جداً
4- هُنالك بعض المعلومات تم توضيحها بشكل تفصيلي جداً (تُعتبر لدى الطالب أو الطالبة بإنها معلومات مُبهمة ومع ذلك تم توضيح هذهِ المعلومات المُبهمة بشكل تفصيلي جداً
5- الملزمة تشرح نفسها ب نفسها بس تكلك تعال اقراني
6- تحتوي الملزمة في اول سلايد على خارطة تتضمن جميع تفرُعات معلومات الجهاز الهيكلي المذكورة في هذهِ الملزمة
واخيراً هذهِ الملزمة حلالٌ عليكم وإتمنى منكم إن تدعولي بالخير والصحة والعافية فقط
كل التوفيق زملائي وزميلاتي ، زميلكم محمد الذهبي 💊💊
🔥🔥🔥🔥🔥🔥🔥🔥🔥
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