Overview of the Bankruptcy Abuse Prevention and Consumer Protection Act :: Financial Scams

New Bankruptcy Law Key Points Here are key points, changes, and considerations. The bankruptcy laws were changed in 2005-2006, and much of the new law was pushed by credit grantors, finance companies, and shady politicians like Bob Ney of Ohio and lobbyist Jack Abramoff. Here are some points to consider: 1 Means Test for Chapter …

Difference between correspondent lenders and mortgage brokers

Correspondent lenders are small lenders who do have the right to extend loans on their own risk and have the necessary funds to do so. After a loan is closed a correspondent lender will rarely keep it in their portfolio, selling it to a larger wholesale lender. Sometimes it is hard for the borrower to …

Investment Bank, Defined

Unlike a commercial bank, which offers checking accounts, CDs and loans, an investment bank finances offerings of stocks, bonds and other investments. Investment banks help companies sell their stock to the public and help cities and towns raise money by issuing municipal bonds. Investment banks also offer advice on corporate mergers and acquisitions. If investment …

Difference between writedown and credit loss

Definition – the difference between a write-down and a credit loss: Investment banks and the investment-banking units of financial conglomerates mark their assets to market values, whether they’re loans, securities or collateralized debt obligations, and label that a “writedown” when values decline. Commercial banks take charge-offs on loans that have defaulted and increase reserves for …