Sentences with phrase «repaid on the borrower»

A cash advance is a small, short - term loan that typically must be repaid on the borrower's next payday.

Not exact matches

New rules on payday lending from the Consumer Financial Protection Bureau require an upfront test to determine if borrowers will be able to afford to repay the loan.

This year, the total amount of auto loans topped the $ 1 trillion mark, as borrowers took on debt that takes longer to repay.

Borrowers have on average 85 days to repay each advance.

Loans that have been in default can be consolidated after three consecutive monthly payments have been made or if the borrower agrees to repay the consolidation loans under an income - driven repayment plan (where the payments are based on the income of the borrower).

The suggested fixes include capping loans at 65 per cent of the home value, introducing new and more conservative means of estimating how much a residence is worth, and amortizing the loans (meaning that borrowers would have to repay the principal within a certain time frame, as in a mortgage, whereas now they can simply keep paying interest on their HELOCs).

There is no prediction that can be made as to what will take place with any of the student loan forgiveness programs, but borrowers should be aware that any or all of these benefits may disappear in the future, leaving the responsibility to repay student loans fully on their shoulders.

However, borrowers need to be aware of the caveats of federal student loan forgiveness, including tax implications, uncertainty about the viability of forgiveness programs, and the need to take lower - income positions before relying heavily on a forgiveness program to repay student loan debt.

Also, MEFA's eligibility requirements for student loan refinancing do not include having completed a degree, so borrowers who have put school on hold and are repaying their loans may be able to refinance into lower rates with MEFA — or at the very least, into a longer loan term and therefore lower monthly payments.

Only later did it dawn on investors that the incremental buyers were called «Sub-Prime» for a reason and they were not as likely to repay those loans as the Prime borrowers had been historically.

Borrowers who have refinanced their student loan debt with lenders on the Credible platform with the goal of reducing their interest rate, loan term and total amount repaid can expect to save $ 18,668 over the life of their loan.

While refinancing federal or private student loan debt helps streamline the loan repayment process, borrowers are required to repay the loan based on the terms agreed upon at the time the funds are received.

AdelaideBank, a division of Bendigo and Adelaide Bank, will today (Wed) announce stricter controls on apartment lending that include bigger sizes, better design, identifiable cash flows for investor / lands and more stringent calculations of a borrowers» capacity to repay.

This means that in the event that a borrower fails to repay, we would seek to recover the outstanding loan by selling the property and passing the proceeds on to investors.

Over time, repaying student debt has a positive impact on borrower's credit score and history, so long as the bill is paid on time each month.

But cosigning a loan means taking on the borrower's obligation to repay the loan if they can not.

A recent analysis found borrowers who refinanced their student loan debt with lenders on the Credible platform with the goal of reducing their interest rate, loan term and total amount repaid should expect to save $ 18,668 over the life of their loan.

Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory lending practices that saddled subprime borrowers and / or those with poor or limited credit histories with high - interest rate debt that they could not repay; (ii) many of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and active borrower numbers and increasing the likelihood of defaults; (iii) the Company was providing online loans to college students despite a governmental ban on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the number of its non-performing loans in the Registration Statement and Prospectus; (vi) because of the Company's improper lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification institution in China, subjecting the Company to undisclosed risks of penalties and financial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.

Borrowers who have withdrawn from their retirement accounts to repay student loans for parents need to play catch - up to get back on track.

A cosigner takes on just as much responsibility for repaying the student loan as the primary borrower does, and is equally affected by any missed payments.

But remember — by signing on to the loan with the borrower, the cosigner is agreeing to shoulder the responsibility of paying off the loan if the borrower is unable to repay it.

The co-signer doesn't just sign on the loan, he or she is making a promise to repay the loan if the borrower defaults.

«More than 10 million borrowers have had their servicer change in the past five years... When servicers change, payments may be lost, consumers may incur surprise late fees, and processing problems and missing account records can knock borrowers off track on repaying their loans.»

A loan is considered defaulted if the borrower fails to repay it on the terms that were agreed to in the loan contract.

The law's ability - to - repay rule requires mortgage lenders to make a «reasonable and good faith determination» on borrowers» repaying capability.

HELOCs function as a second mortgage, with the borrower withdrawing and repaying funds on a more flexible schedule, and the government allowing a tax deduction for interest payments.

Private mortgage insurance (PMI) is insurance which covers the mortgage lender in case the borrower defaults on repaying the mortgage.

Experian said 2.44 percent of borrowers were 30 - days delinquent on repaying their loan in the fourth quarter, which is up slightly compared to the same time as 2015.

The rates offered by Avant also depend on the borrower's creditworthiness — their credit history and ability to repay the loan.

And if the borrower can't repay or declares bankruptcy, the lender will turn to the cosigner for repayment on the debt.

Generally speaking, borrowers with higher scores have a history of repaying their debts on time and in full.

On the other hand, it can be ged by the lenders on the loan made available to another person called borrower for use so that the person (borrower) can repay in a future timOn the other hand, it can be ged by the lenders on the loan made available to another person called borrower for use so that the person (borrower) can repay in a future timon the loan made available to another person called borrower for use so that the person (borrower) can repay in a future time.

In other words, it borrows money from depositors over the short term, promising to repay it on demand, while it lends most of that money out over the long term to borrowers, for instance in the form of 30 - year mortgages.

Among its promises are that Democrats will support free community college for all, make it easier to repay student loans, allow borrowers with student loans to discharge their debts in bankruptcy if necessary, strengthen higher education schools that serve minorities, crack down on «for - profit schools that take millions in federal financial aid,» and continue to work to improve public schools by holding teachers and schools «accountable.»

Private mortgage insurance (PMI) is insurance which covers the mortgage lender in case the borrower defaults on repaying the mortgage.

«Iffy» borrowers have to pay a bit more in interest, so you earn a bit more on loans to them; high quality borrowers pay you a bit less but you can be pretty sure that they'll repay their borrowings promptly and fully.

Applications are approved based on the quality of the vehicle as well as the borrower's ability to repay.

That might sound strange, but depending on the size of the loan required, and the employment chances of an applicant, lenders have calculated that there can be a strong chance of even unemployment loans that are unsecured being fully repaid on time by the borrower.

Mortgage insurance is the first level of credit protection against the risk of loss on a mortgage in the event a borrower is not able to repay the loan and there is not sufficient equity in the home to cover the amount owed.

Lenders make well over $ 1 trillion in loans every year based in large part on credit scores developed by Fair Isaac Corp., a firm based in San Jose, Calif., that attempts to quantify which borrowers are most likely to repay the money on time.

A Home Equity Conversion Mortgage, also known as the HECM reverse mortgage, is a loan that functions as a federally - insured cash advance on a borrower's home equity, and, while there are other maturity events as well, it is repaid when the last borrower or eligible non-borrowing spouse leaves the home.

It is common however, to renegotiate the loan terms which is a form of refinancing but it seldom happens when the borrower is still repaying the loan as it usually happens only when negotiation is forced through a default on the loan repayment.

Borrowers with a history of repaying their debts on time have a better chance of being approved for a home loan.

The borrower will then need to request another loan in order to repay the one due and so on till he will find himself paying only interests and never reducing the loan principal.

It is thought that the nature of the payday loan market creates a vicious cycle where borrowers» financial limitations make it incredibly difficult to repay the loans on time, at which point they are slammed by outlandishly high APRs.

Lenders take on greater risk by underwriting non-QM loans, so they require very specific qualification standards to asses the borrowers ability (and likelihood) to repay the loan.

The lender will add a margin on top of the reference rate that's aimed at offsetting the risk that the borrower won't repay the loan and to make a profit.

In order to repay loans faster, borrowers may want to consider either increasing the amount of their typical monthly payment or making a second payment each month with whatever extra money they can allocate to the loan (on top of paying their typical payment).

Interest rates vary for Western Finance loans, based on the borrower's ability to repay, budget, and income stability.

While payday loans are structured to ensure the borrower repays the loaned amount in full on the next payday, installment loans direct lender are designed such that the repayments are done in installments say weekly, biweekly or monthly, depending on the amount borrowed.