We can tell the salesperson that this company is creditworthy.
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Some businesses simply may not be creditworthy after this economic shock.
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That impairs their ability to make loans even to the creditworthy.
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Institutions may decide, for example, that unbanked individuals are less creditworthy.
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Canada's well capitalised banks are among the world's most creditworthy despite the downgrade.
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N000 already offers consumer credit loans in Germany if you're a creditworthy employee.
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That debt has put homeownership out of reach for millions of creditworthy borrowers.
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Shorter, smaller, less creditworthy contracts make financing multi-billion-dollar projects simply more difficult.
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At first glance, the European Union doesn't seem like the most creditworthy of borrowers.
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Appetite for new bonds, especially those issued by less-creditworthy businesses, has fallen off.
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Loan prime rate is the interest rate that banks charge their most creditworthy clients.
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The IBRD provides concessional financing for projects in middle-income and creditworthy low-income countries.
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Northeastern states were the least creditworthy while Southeastern and Western states have strong economic growth.
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That misrepresentation was part of a convoluted effort to make Mr. Manafort seem more creditworthy.
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This latter measure is aimed at ensuring banks continue to lend to creditworthy businesses and households.
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Independent mortgage companies and non-depository institutions play an important role in lending to creditworthy borrowers.
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Social Security is an inflation-adjusted creditworthy annuity far superior to anything offered in the marketplace.
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The more creditworthy you appear to a financial institution, the less interest you'll end up paying.
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Millions of creditworthy families are now excluded from the wealth-building opportunities that homeownership can provide.
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He will: Broaden access to basic financial services, including mortgage loans for creditworthy low-income households.
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The prime rate is what banks charge to lend to their most creditworthy customers, including large corporations.
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A corporate dash for cash is understandable, given that revenues have collapsed for many otherwise creditworthy companies.
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Moreover, lenders relaxed borrowing standards and made it easier for less creditworthy corporations to heap up debt.
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MI not only protects taxpayers, it helps creditworthy families without large down payments qualify for a mortgage.
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Engage the GSEs in other efforts to promote safe and sustainable homeownership for creditworthy low-income borrowers.
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Of the cards surveyed, just 10 offered rates less than that broader average to their most creditworthy customers.
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Were some of those same fake loans then "forgiven" to help Mr. Manafort seem more creditworthy to banks?
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Elizabeth has long supported reforming Fannie Mae and Freddie Mac so that they expand access to creditworthy borrowers.
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Perhaps you had an older, more creditworthy relative co-sign your loan to qualify for a lower interest rate.
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The prime rate is the rate at which individual banks lend to their most creditworthy customers, including large corporations.
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The prime rate is the rate at which individual banks lend to their most creditworthy customers, including large corporations.
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Kenyan SACCOs face a squeeze as a rate cap on bank loans intensifies competition for the most creditworthy borrowers.
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Chinese commercial banks are generally reluctant to offer loans to small businesses, which they view as not sufficiently creditworthy.
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Another problem: Retailers generally expect banks to lend to less creditworthy customers than they do with general purpose cards.
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The APR you get approved for is based on how creditworthy you are in the eyes of the lender.
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Your credit score shows a lender how creditworthy you are and can determine the amount of your credit line.
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What you don't want them to do is search for borrowers and do a lot of non-creditworthy loans.
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"There is a massive market opportunity of strong, creditworthy businesses that banks are shutting their doors to," he said.
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Ryan said digital lenders were luring away IPF's higher creditworthy customers, forcing the company to spend more to retain them.
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One of those tools is the loan prime rate — or the interest rate that banks charge their most creditworthy customers.
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Simpler still, states could be forced to pay the central government for a guarantee, with the least creditworthy paying most.
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The reason delinquency has improved is that a lot of the lending is only going to the most creditworthy borrowers.
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A higher rating would signify to bond investors that India was more creditworthy and help to lower its borrowing costs.
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"If the customer was only approved for $10,000 to $53,000, Euler could say this is a creditworthy account," he said.
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For one thing, job creation from the economic recovery, however tepid or uneven, has expanded the ranks of creditworthy borrowers.
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The prime rate, which banks charge their most creditworthy customers, nearly doubled by Election Day 1980, peaking at 21.5 percent.
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And, within that business, the reforms pushed banks from people with lower credit ratings toward creditworthy customers who respond to incentives.
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Commercial banks have preferred to lend to state-owned enterprises rather than private companies, which are viewed as being less creditworthy.
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This common tool has the power over time to transform the stream of student loan repayments by creditworthy individuals into homeownership.
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Auto loans to more creditworthy clients continue to gain momentum, signaling an improvement in the credit profile of Canadians, Gomes said.
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For example, the bill will give more creditworthy borrowers the chance to get the mortgage they need to buy a home.
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Right now, only 0003% of the 500 largest cities in developing countries are considered creditworthy, hampering their ability to raise capital.
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In fact, six credit card issuers now offer upfront rewards of more than $210,10.84 to entice creditworthy people to open new accounts.
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With student loan refinancing, creditworthy borrowers can get lower rates, change the repayment terms of their student loans and potentially save thousands.
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But that regulation shouldn't get in the way of banks extending loans to creditworthy customers and otherwise serving their clients and communities.
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We can expand access to these creditworthy borrowers while protecting taxpayers and ensuring that community banks get equitable access to the GSEs.
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"Lenders kind of rely on one another — if one lender says you're creditworthy, the next lender feels a little more comfortable," Weston explained.
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Sure, in theory it simply tells companies how "creditworthy" a particular individual is — how likely they are to pay their bills on time.
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He emerged from bankruptcy insufficiently creditworthy to get the kind of bank loans he would need to keep doing major real estate projects.
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New York Fed economists said that while creditworthy borrowers are mostly driving the growth in originations, the performance of auto debt is worsening.
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While microfinance has had an impact, Christensen told KelloggInsight: "Microfinance companies proved that poor people, wherever they are, could be creditworthy," Christensen says.
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After a rate hike, banks raise the rate they charge their most creditworthy clients — such as large corporations — known as the prime rate.
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That's because the bond market tells you how companies and governments borrow money—and the bar to prove that you're creditworthy is high.
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Work on rebuilding your creditIf you find that you can't qualify for a loan, you'll want to take steps to become more creditworthy.
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DROPPING A CO-SIGNER Perhaps you had an older, more creditworthy relative co-sign your loan to qualify for a lower interest rate.
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Some would make it easier for creditworthy families to buy a home or for businesses to acquire the capital they need to grow.
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Of course, Exxon is one of the most creditworthy companies in the world, and rates are low, so they are having no problem borrowing.
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Whatever territories were to emerge from a divorce, they would be smaller and presumably less creditworthy than the government standing behind Spanish bonds now.
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Liquidity in the Taiwanese bond market is high, with long-term buyers of debt, primarily life insurance firms, seeking creditworthy names and chasing higher yields.
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Although the overall pool of creditworthy car loans has improved, the FRBNY noted a sharp rise in delinquencies among borrowers under 24 years of age.
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KEY RATING DRIVERS The 'BBB-' rating reflects stable availability-based revenues from a creditworthy counterparty and low cost risk due to pass-through to contractors.
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Extrapolating from economic policies is one thing, no longer trusting the good faith of the heretofore most creditworthy borrower in the world is quite another.
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Afghanistan needed to focus on "market building", with individual entrepreneurs forming creditworthy companies that could build value chains to take advantage of available trade preferences.
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There is a lending instrument already in widespread use that could serve as a bridge for creditworthy student borrowers to become homeowners: the home mortgage.
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Creditworthy federal student debt holders could be connected with available housing properties held by or serviced through the federal government or local county land banks.
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And the Federal Reserve on Tuesday announced significant expansions in lending from a stabilization fund to make sure creditworthy businesses could continue to access funding.
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He points to a threshold decision facing the Fed and Treasury: How much of a risk they are willing to take on less creditworthy businesses.
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Liquidity in the Taiwanese bond market is flush, with long-term buyers of debt, primarily life insurance firms, seeking creditworthy names and chasing higher yields.
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This has allowed the most creditworthy to bid up prices further in cities like San Francisco, while prices in places like Charleston, West Virginia, have sagged.
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The euro was up 0.36 percent to $323, and the gap between yields on Italian and more creditworthy German bonds was the narrowest in a month.
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Like many fintech firms, Klarna believes that its algorithms do a better job of identifying creditworthy customers than the arthritic systems used by conventional financial firms.
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"I would start talking to a bank the day you want to open a deposit account, but to be creditworthy could take [a while]," DesMarteau said.
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The prime rate, which is the rate that banks extend to their most creditworthy customers, is typically 3 percentage points higher than the federal funds rate.
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Nearly every other significant asset class fared worse, too, including investment-grade bonds and less creditworthy high-yield issues, foreign currencies and commodities like gold and oil.
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Six credit-card issuers now offer upfront rewards of more than $1,000 to entice creditworthy people to open new accounts, according to a recent survey by CreditCards.com.
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The euro was up 0.45 percent to $1.1603, and the gap between yields on Italian and more creditworthy German bonds fell to the narrowest in a month.
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It's clear that private student loan lenders are looking for borrowers with a financially secure and creditworthy cosigner — whether that be a parent, guardian, or someone else.
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" Source: Paladin Research & Registry "Loans or private placements are potential scams because you do not ... know if your money was really lent to a creditworthy, collateralized borrower.
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BEIJING (Reuters) - China's banking and insurance regulator has asked financial institutions to give more support to infrastructure investment, importers and exporters, and creditworthy companies experiencing temporary problems.
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Too much capital may be chasing too few creditworthy borrowers, particularly in an environment of abnormally low interest rates and where non-bank loan growth has been aggressive.
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MCUSTX-TOTAL CHINA CREDIT: China's banking and insurance regulator has asked financial institutions to give more support to infrastructure investment, importers, exporters and creditworthy companies experiencing temporary problems.
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One of the biggest areas of concern for banking regulators is auto lending, where competition has been fierce, prompting some lenders to extend loans to less creditworthy customers.
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Sankaran granted loans to entities, which were not creditworthy or have been declared non-performing assets, causing wrongful loss to the company and its creditors, the official added.
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These banks make private-sector loans to small business borrowers who are creditworthy and healthy but who fall through the very common lending gap for American small businesses.
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SBA does not pick "winners and losers" because SBA does not make the loans and its 7(a) program is open to any eligible, creditworthy small business borrower.
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Specific details can disqualify some otherwise creditworthy borrowers, and Chang says this leaves a lot of money and business opportunities on the table — for creditors and borrowers alike.
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After a presidential disaster declaration, the U.S. Small Business Administration provides low-interest loans for home repair and property damage of up to $240,000, primarily to creditworthy households.
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Other factors, such as economic prospects, are also important in stimulating lending and loan demand from creditworthy customers is being amply served by a strong supply of liquidity.
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How it works: Institutions may decide, for example, that unbanked individuals are less creditworthy, and using this factor in loan decisions could disadvantage people of color and women.
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In 2016 it returned to the international capital markets, and earlier this year it sold a bond with a 100-year maturity, usually reserved for the most creditworthy borrowers.
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Exactly what you pay is typically a combination of your bank's prime rate — reserved for the most creditworthy customers — plus a fixed percentage that depends on your credit score.
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Moreover, the rally in US Treasuries and the massive decline in yields represents the long-overdue convergence of US borrowing costs with those of far less creditworthy, developed nations.
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An unexpected increase in risk appetite, which could be indicated by investments in less creditworthy securities or loan growth at less stringent loan-to-values, would be rating-negative.
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Losing its foothold in Japan would force QP to seek sales among less creditworthy buyers in Africa, the Middle East and south Asia which are riskier to deal with.
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But projects have struggled to find offtakers as the world's biggest buyers in Japan and South Korea seek nimbler terms while others such as India and Pakistan are less creditworthy.
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Digital technology has made it easier to collect and sift data—and hence to find creditworthy people among those with "thin" conventional credit files, who might otherwise be denied loans.
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As Minsky observed, this phase is characterized by increasingly exotic and complicated financial tools that disguise the extent of leverage being doled out to borrowers who are far from creditworthy.
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Last month, India's Serious Fraud Investigation Office (SFIO) arrested the former chairman of IL&FS and accused him of abusing his powers and granting loans to entities that were not creditworthy.
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Although financial markets have been extremely volatile of late, credit conditions in the U.S. remain good – creditworthy households and businesses face no difficulties in acquiring credit at historically low interest rates.
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It had been aided by an easing in concerns over Italian debt which left the gap between yields on Italian and more creditworthy German bonds at the narrowest in a month.
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"Our challenge now is to never swing back to where we were but to get to an equilibrium where people who are creditworthy can get the housing they need," Sperling said.
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For years, Mr Draghi has been saying that monetary policy alone cannot speed up the economy, and that creditworthy governments must use fiscal policy as well, ideally by raising public investment.
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"We continue to emphasize creditworthy customers and the credit quality of our portfolio is performing in-line with expectations," Chavez said in response to a question about Marcus customers' credit-worthiness.
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With so much home equity that has been accumulated since 2009 by very creditworthy borrowers, most homeowners should be able to weather a financial crisis much easier than in the past.
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But in its rhetoric, the administration has acquiesced to the core misconception of the CRA — that its pressure is necessary for banks to serve creditworthy but low-income communities and households.
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The Fed on Tuesday revived a facility last used during the 2007-08 financial crisis and recession to buy bonds from companies facing severe financial distress that would otherwise be creditworthy.
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And though Turkey's central bank has been slow to raise the official cost of borrowing for banks, those commercial lenders have been quick to raise interest rates for their decreasingly creditworthy borrowers.
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The prime rate is the rate at which banks lend to creditworthy customers, and often is used as a benchmark for other loans such as loans for credit cards or small businesses.
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Trump is famously not especially creditworthy, and I think the implication of this reporting is supposed to be that it's the fingerprints of a previously unknown credit relationship between Trump and Alfa.
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For corporate treasurers, swapping fixed-rate payments into floating-rate payments may be more expensive because the market has begun to view certain banks as less creditworthy, which can increase Libor, he said.
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"This is the number that mortgage lenders will look at to determine whether you are 'creditworthy,' and thus dictates whether you'll qualify for a home loan, and the rates you will get," Realtor.
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The borrowers would have to be "creditworthy federal student debt holders," meaning they would have to have federal loans, earn good credit ratings, have a job, and be up to date on payments.
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"FHA mortgage products exist to serve an important mission: providing homeownership opportunities to creditworthy borrowers who are overlooked by conventional lenders," said NAR President William Brown, a real estate agent from Alamo, Calif.
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While there's huge growth potential in the Chinese market, it's still relatively young and dominated by just a handful of buyers with enough experience managing LNG imports to be considered creditworthy by banks.
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However, strict lending criteria at the country's 'big six' banks mean a missed payment or change of employment could make otherwise creditworthy customers require alternative financing, boosting business of the less regulated lenders.
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Here's the worry: If home prices peak and then dip, homeowners who put down just 5% and are less creditworthy than their predecessors will owe more on their mortgages than their homes are worth.
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The prime rate is the rate at which banks lend to their most creditworthy customers, and can be used as a benchmark for other loans such as those for small businesses or credit cards.
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Fixing the global imbalance between savings and investment requires broad action right across the world economy: increased immigration to countries with ageing populations, dramatic reforms to stagnant economies and heavy borrowing by creditworthy governments.
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Mr. Hansson said that customer service employees were unable to explain why the algorithm had designated her to be less creditworthy but had assured his wife that the bank was not discriminating against women.
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Here's a breakdown of how it works: For starters, the prime rate, which is the rate banks extend to their most creditworthy customers, is typically 3 percentage points higher than the federal funds rate.
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"The rate cap was remarkably restrictive and the unintended consequence was that banks diverted their investments into Kenyan government liabilities and away from all but the most creditworthy private sector activities," Stocker told CNBC.
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Bank A lends every dollar deposited to creditworthy businesses, but is doomed to fail, either in the event that depositors want their money back unexpectedly, or in the event that interest rates rise sharply.
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New business school graduates are inevitably one step ahead of their regulator counterparts, and many of the least creditworthy businesses find it easy to borrow, because their loans can be quickly repackaged and sold.
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Lenders have recently introduced programs that will make it easier for creditworthy borrowers to buy a home with very little down even as they juggle other demands, like student loan repayment or starting a family.
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Home credit business accounted for more than 90 percent of the company's total revenue in 2016, but digital lenders were luring away IPF's higher creditworthy customers, forcing the company to spend more to retain them.
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So though banks see growing demand, this was growing demand from creditworthy borrowers who would have been financed otherwise, presumably, just not at quite such a low rate for borrowers and fat margin for banks.
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Parents of undergraduate or graduate students, as well as other "creditworthy" adults, like grandparents, aunts and uncles, and guardians who want to help finance the student's education, can apply for the loan, Mr. Rocha said.
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A material increase in risk appetite, which could be indicated by significant investments in less creditworthy securities, or rapid loan growth, or significant changes in underwriting standards, would also put pressure on Lombard Odier's ratings.
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There are common-sense policy measures we can take to clear the way for creditworthy borrowers to make a purchase, protect homeowner's most valuable asset, and help students make good financial decisions on their loans.
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The changes "will help America's banks, particularly community banks, get back to the basics of lending to creditworthy borrowers and businesses," said Rob Nichols, president and CEO of the American Bankers Association, in a statement.
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Here's a breakdown of how it works: For starters, the prime rate, which is the rate that banks extend to their most creditworthy customers, is typically 3 percentage points higher than the federal funds rate.
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Restructuring professionals also point to outflows from the junk bond market, a key funding source for less creditworthy borrowers, and creeping inflation, which slowly results in an across-the-board rise in costs for companies.
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Within the euro club, the gripe is that Germany, as the most creditworthy member, has insisted on austerity for countries with heavy debts, without recognising that its own tight rein on spending makes that adjustment harder.
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The tech is built on a radically simple idea: If you have access to someone's cell phone account, you have a way to identify them individually and a history of payments to tell if they're creditworthy.
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The average contract rate on the 30-year fixed will likely end the day as high as 4.875 percent for the highest creditworthy borrowers and 5 percent for the average borrower, according to Mortgage News Daily.
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The interbank market is also bubbling with $21 trillion worth of excess reserves, the money banks can readily loan out to creditworthy private sector customers — in addition to mopping up some of Uncle Sam's extravagant IOU offerings.
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Moreover, as many NBFCs typically lent to less creditworthy clients, banks are reluctant to rush in to fill the void, as they themselves struggle to cope with an existing pile of about $150 billion in bad loans.
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When you tap your phone to apply for the card, Goldman will have to instantaneously decide how creditworthy you are, how much of a credit line it will offer you, and how much interest it will charge.
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Taking on more risk in fixed income portfolios seems unlikely to make up much of the ground lost to rising interest rates which will, after all, make highly indebted borrowers less creditworthy and more likely to default.
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Moreover, as many NBFCs typically lent to less creditworthy clients, banks are reticent to rush in to fill the void, as they themselves struggle to cope with an existing pile of about $150 billion in bad loans.
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He continued to treat Mr. Gates as his aide, asking him how to convert profit-and-loss statements from PDF format into Word in order, prosecutors said, to inflate his income and appear more creditworthy to banks.
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The LPR is the interest rate that banks charge their most creditworthy customers and a revamp was announced by the Chinese central bank in August in a bid to lower borrowing costs to boost the country's economy.
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Spreads on junk bonds, issued by companies that are considered significantly less creditworthy, have risen even more, from around 3.2 percentage points at the start of the year to more than 4.5 percentage points now, according to FactSet.
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She lays out the stakes of this whole thing quite clearly: It matters for the woman struggling to start a business in a world that still seems to think women can't be as successful or creditworthy as men.
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In addition to cash back on charges for gas, groceries and restaurants, six credit-card issuers now offer upfront rewards of more than $1,000 to entice creditworthy people to open new accounts, according to a recent survey by CreditCards.com.
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As the economy has slowed, smaller banks with less access to top-tier creditworthy borrowers have increasingly dabbled in creating, packaging and repackaging exotic assets for sale to retail investors, who assume they are tacitly guaranteed by the government.
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A creditworthy cosigner helps in many ways — primarily by being able to access credit and by getting a lower interest rate— but they're also on the hook if the student is unable to repay the loan at any point.
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Otting came into office with CRA reform at the top of his agenda, and his efforts could give banks greater incentive to extend loans to creditworthy borrowers in underserved neighborhoods and to think creatively about helping their local communities.
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Otting, who is comptroller of the currency, has strongly defended his proposal, saying he is seeking to offer greater incentives for banks to extend loans to creditworthy borrowers in underserved neighborhoods and to think creatively about helping their communities.
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Because the US federal government is an extraordinarily creditworthy institution (after all, if it goes bankrupt, every other borrower of dollars is going to have a worse problem), it can borrow dollars at a lower interest rate than anyone else.
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For your average American, these decisions have a wide-ranging impact — both good and bad: The prime rate, which is the rate that banks extend to their most creditworthy customers, is typically 20.01 percentage points higher than the federal funds rate.
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In America analysts at UBS, a bank, have seen delinquency rates on subprime unsecured loans and credit-card balances start to rise (albeit from a low base), and poor performance start to spread from subprime car loans to more creditworthy borrowers.
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Tim Docking of Refugee Investment Network (RIN), a U.S non-profit that also assisted 734 Coffee, said one of the key hurdles they seek to address is proving to investors, who might view refugees as risky prospects, they are creditworthy.
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From Equifax's own website, it lists the factors used to calculate credit scores as: Notice no mention of details you might find important in finding someone creditworthy, like say, their net worth-and this is the crux of the issue.
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Days after the central bank slashed interest rates to zero, the Fed on Tuesday launched an emergency effort to make certain that big creditworthy businesses will continue to be able to access funding, amid concern that the cash would dry up.
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They conveniently look past the crimes of the dictatorship and fool themselves into believing that "investments" in a bankrupt Communist society that ranks at the bottom of creditworthy countries can somehow translate into genuine political reforms and lead to democracy.
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While borrowers are far more creditworthy and lenders are more stringent than in the run-up to the last downturn, the upward creep in serious delinquencies in automobile, credit card and now student debt could unsettle policymakers at the Fed and elsewhere.
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While government loans tend to have high default rates, lenders are attracted to the private side of the business because they can offer better pricing to more creditworthy borrowers, Citizens Financial Group Inc Chief Executive Bruce Van Saun said in an interview Thursday.
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The agencies said that workers were likely facing "temporary hardship" because of the shutdown and said financial institutions should "consider prudent workout arrangements that increase the potential for creditworthy borrowers to meet their obligations," including extending new credit, waiving fees, and modifying loan terms.
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During a conference call to discuss third-quarter results, analysts wanted to know what yields Goldman expects from consumer lending, how creditworthy its borrowers are, the loss rates it might incur from different kinds of loans and how a recession would impact the operation.
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Other indications are that U.S. and global equity valuations appear to be stretched, housing bubbles have re-appeared in a number of important economies and an alarming amount of credit has been extended to non-creditworthy borrowers around the globe at historically low interest rates.
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Even though Italy's government bonds recovered some of their losses on Thursday, the bonds of nearly two-thirds of non-financial companies in Italy's FTSE MIB equity index have lower yields than that of the sovereign, suggesting that investors find them more creditworthy than the government.
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As the economy has slowed to its slackest pace in 25 years, smaller banks with less access to top-tier creditworthy borrowers have increasingly dabbled in creating, packaging and repackaging exotic assets for sale to retail investors, who assume they are tacitly guaranteed by the government.
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State-owned banks have flooded credit markets with so many loans that finding large, financially stable, creditworthy borrowers has become harder in China, forcing newcomers to enter the treacherous market of providing loans to smaller enterprises at a time when the entire Chinese economy is gradually slowing.
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If a machine was asked to identify creditworthy candidates for loans, it might use data like felony convictions, but if felony convictions were unfair in the first place — if they were based on, say, discriminatory drug laws — then the loan recommendations would perforce also be fallible.
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The defaults by IL&FS and its group entities relate to loans and bonds financing other infrastructure projects as well as unsecured lending to non-creditworthy entities, according to an interim report from audit firm Grant Thornton, which IL&FS's new board hired to dig into the books.
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According to a recent ABA survey, just 9 percent of single-family mortgage loans made in 2016 were made outside of the "qualified mortgage" box, which means a one-size-fits-all arbitrary regulatory standard is keeping too many creditworthy families out of homes they can readily afford.
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Douglas Merrill of ZestFinance in Los Angeles says that Baidu, a search-engine titan that has a stake in his firm, increased approval rates for its small-loans programme by 150% without a rise in losses; ZestFinance's software crunches reams of messy data, allowing less obviously creditworthy people to borrow.
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That would mean only around 10 percent of China's 2,500 banks would be able to issue the full range of WMPs, according to analysts at China Merchants Securities Co. Banks often sell WMPs from intermediaries such as brokerages and trust companies as a way of extending loans to less creditworthy borrowers.
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In America the Centre for the New Middle Class, the think-tank arm of Elevate, a Texas-based online lender specialising in the "nonprime" market (not immediately creditworthy), estimates that 183m Americans are nonprime and a further 218m are "credit invisibles", without enough of a financial history to be assigned a credit score.
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"In the middle of a housing affordability crisis, when the gap between the Black and white homeownership rates is as big as it was when housing discrimination was legal, the Trump Administration wants to make it harder for creditworthy working families — especially families of color — to buy a home and build wealth," said Warren.
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This means it is cheap and easy for creditworthy consumers to move their debts around to take advantage of the best deals, something the Financial Conduct Authority found to be common as long ago as 2014, when one in five people who acquired a new card had also made a balance transfer between 2012 and 2013.
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