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March 2009

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For the right price, Baltimore-area banks will sell troubled loans (BizJournals)

On first blush, it might seem that local bankers would be excited about the U.S. Treasury Department’s new plan to buy banks’ toxic loans and securities.

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Report: Refund loans costly to many Indians (Southwest Iowa News)

Six U.S. counties with American Indian reservations -- including Thurston County in Nebraska -- ranked highest in the nation for the percentage of taxpayers who claimed a federal income tax credit for low-income workers but who lost part of the benefit to costly refund anticipation loans, a children's advocacy group said.

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Taxpayers set to pick up toxic loans (Financial Times)

Taxpayers are set to take responsibility for up to £750m worth of mostly toxic loans at Scotland’s largest building society following disastrous investments in commercial property and mortgage-backed securities.

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BNR: Amounts due for RON and foreign currency loans up by 20.5 pc in February (Nine O’Clock)

The outstanding amounts due by households and companies in case of RON and foreign currency loans advanced in February by 20.5 per cent compared to the previous month, up to RON 4.25 bln, triggered by a stronger advance of the liabilities in foreign currency, based on the data published by BNR on Friday.

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‘Magic’ tax refund loans prey on working poor, critics say (Seattle Post-Intelligencer)

Consumer advocates say the quickie tax-refund loans Magic Johnson is advertising prey on the working poor.

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CBI, CVC may get to probe cos diverting working capital loans (The Economic Times)

Companies that have diverted working capital loans from banks for other purposes such as acquiring fixed assets face stiff penalties, as banks prepare themselves to comply with the Basel II banking guidelines from April 1.

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Italease Loss Doubles After Writing Down Bad Loans (Update1) (Bloomberg)

March 29 (Bloomberg) -- Banca Italease SpA, the Italian leasing company being bought by Banco Popolare SC, said its net loss last year more than doubled on almost 850 million euros ($1.1 billion) in writedowns of its loans.

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Trick of ‘magic’ tax refund loans? High rates (San Francisco Chronicle)

A broad smile spreads over Magic Johnson's face. "Sooner or later, we all need help," the former NBA superstar says into the camera. "If you need cash quickly, Jackson Hewitt has the Money Now loan. It's fast, it's simple - it's money like magic." But... Presented By: Gamer Gets Pwned by His Antivirus (Episode 2): The Celebration    A new MMORPG guild celebration gone wrong... ...

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Tighter credit makes tax-refund loans harder to get (Seattle Times)

Disappointed applicants say they've been turned down for refund-anticipation loans, known as RALs, where they've routinely received them in past years.

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Originating Two $64M Loans, Capmark Keeps Freddie Mac Financing Coming (Commercial Property News)

Beleaguered Freddie Mac is still making loans and Capmark Finance Inc., closing deal after deal, is actively paving the way for its clients to be on the receiving end of the funds.

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