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Credit card redlining is a spatially discriminatory practice among credit card issuers, of providing different amounts of credit to different areas, based on their ethnic-minority composition, rather than on economic criteria, such as the potential profitability of operating in those areas. [78]
By Paula Pant Imagine: You're a beginner real estate investor. You want to flip a house for the first time. You don't have much money. Someone recommends that you get a Home Depot or Lowe's credit ...
v. t. e. A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. A financial institution makes available an amount of credit to a business or consumer during a specified period of time.
The Fair and Accurate Credit Transactions Act of 2003 (FACT Act or FACTA, Pub. L. 108–159 (text) (PDF)) is a U.S. federal law, passed by the United States Congress on November 22, 2003, [1] and signed by President George W. Bush on December 4, 2003, [2] as an amendment to the Fair Credit Reporting Act. The act allows consumers to request and ...
Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt ...
When planning personal finances, the individual would take into account the suitability of various banking products (checking accounts, savings accounts, credit cards, and loans), insurance products (health insurance, disability insurance, life insurance, etc.), and investment products (bonds, stocks, real estate, etc.), as well as ...
Warehouse line of credit. A warehouse line of credit is a credit line used by mortgage bankers. It is a short-term revolving credit facility extended by a financial institution to a mortgage loan originator for the funding of mortgage loans. The cycle starts with the mortgage banker taking a loan application from the property buyer.
Predatory lending is the practice of overcharging a borrower for rates and fees, average fee should be 1%, these lenders were charging borrowers over 5%. [19] Consumers without challenged credit loans should be underwritten with prime lenders. In 2004, 69% of borrowers were from subprime lending.