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Tag: loan
Ally posts 2Q profit on higher auto loan demand
2014-07-30 03:20:19| Automakers - Topix.net
The Detroit-based company was the former finance arm of automaker General Motors, but now it operates as an auto finance company and bank after being bailed out by the government.
Tags: auto
posts
higher
demand
New Subprime Auto Loan Boom Gets Tarnished in NYT Article
2014-07-28 19:23:04| AutomotiveDigest.com - Automotive Industry News
The Situation: Last Sundays issue of the New York Times, had a front page article about how subprime lenders may be overcharging credit impaired consumer for auto loans. The article continued on two full newspaper pages with photos of beleaguered borrowers with stories of repossessions and misleading lending practices. The ominous title of the article was Easy Credit, Hard to Repay and the subhead read Exorbitant Rates in Subprime Boom for Used Cars The Significance: Here is a listing of some of the red flagging content in the article: The surge in subprime auto lending & lack of caution resembles the subprime mortgage market of years past. Subprime auto loans have increased 130 % in last five years Investors are pouring tons of money into the subprime market Loans are then bundled as bonds & securities for sale to insurance companies and mutual funds The NYT article cited several loan cases where interest rates exceeded 23% In spite of warnings, subprime loan volume was up 15% to $146 B in 1st Qtr. See just how damaging this article may be to the subprime lenders and dealers ______________________________________________________ The Article New Subprime Auto Loan Boom Gets Tarnished in NYT Article appeared first on Automotive Digest.
Ceres awarded Brazil government loan and grant to enhance sorghum and sugarcane development programs
2014-07-28 15:30:42| Green Car Congress
Tags: development
government
programs
brazil
Food Corporation of India raises short-term loan of Rs 20,000 crore
2014-07-28 14:00:31| Agriculture - Topix.net
New Delhi, Jul 28 : Forced by rising food subsidy arrears, the Food Corporation of India has raised Rs 20,000 crore for the second time this fiscal to continue the smooth procurement and distribution of foodgrains.
Tags: food
corporation
india
loan
Sales manager pleads guilty in car loan fraud case
2014-07-25 01:30:30| Automakers - Topix.net
Abdul Islam Mughal is scheduled to be sentenced on Nov. 5 on one count of conspiring with others and one count of bank fraud.
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