United States until the housing market started to fall. They had so much bad loans that executives were about to closed the doors, until Bank of America came to the rescues and purchase the company. This was the beginning of the nightmare that was soon to make the evening news. The American people were soon to find out about all the creative loans that were approved to unsuspecting customers who were soon to lose their homes. This was the beginning of the end for Countrywide and a turbulent time for
Words: 1348 - Pages: 6
action they make. But we still need to have “gatekeepers” to keep executives from committing fraud again. Savings & Loan Scandal There have been many disappointments in my lifetime and that’s just in the past 30 years where the government has had to step in and provided some assistance at the expense of the American people. We can go back to the early 80’s when all the Savings & Loans went belly up and the government had to interfere and bail out all of them. The government spent billions of dollars
Words: 1626 - Pages: 7
I. Problem definition: Ms. Salinas Savings & Loan has bucked the trend of financial and liquidity problems that has plagued the industry since 1985. Ms. Salinas believes it is necessary to have a long range strategic plan for her firm including a 1 year forecast and preferably even a 5 year forecast of deposits. Objective:1.To determine what would be a successful forecasting tool for the strategic plan of Ms. Salinas.2. To compare different forecasting tool with its Pros and Cons. |
Words: 758 - Pages: 4
extensive experience working with talented sales teams, meeting aggressive revenue targets, and delivering first-class sales solutions, I am confident that I can help your company meet aggressive goals as well. Capitalizing on my success at Federal Home Loan Bank, I am seeking a professional opportunity to leverage my exceptional sales record and proven account management skills to benefit your company as well as your clients. With the practical experience and demonstrated success, I have the drive and
Words: 255 - Pages: 2
Case Study: Lincoln Savings and Loan Association In 1978, Charles Keating, Jr. began focusing his time and energy on his business endeavours when he founded the real estate firm, American Continental Corporation (ACC). Six years later, ACC acquired Lincoln Savings and Loan Association, which was headquartered in Phoenix, although its principal operations were in California. In his application to purchase Lincoln, Keating pledged to regulatory authorities that he would retain the Lincoln management
Words: 4502 - Pages: 19
Term Paper on: The Federal Home Loan Bank System Abstract The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied government-sponsored liquidity facility that currently has more than $1 trillion in secured loans outstanding, mostly to commercial banks and thrifts. In this paper, we document the significant role played by the FHLB System at the onset of the ongoing financial crises and then provide evidence on the uses of these funds by the System’s bank and thrift
Words: 3665 - Pages: 15
Elements of Results Controls Albert (Al) Fiorini should continue running his business of Atlanta Home Loan (AHL) which is mortgage lending and financing company. He needs to fight to regain control over AHL perhaps only about $25,000 worth of equipment left. In other to get back his business Al can apply elements of results controls which require four steps. First, Al must define the dimensions. He must defining the right performance dimensions although is critical because the goals that are set
Words: 1636 - Pages: 7
ATLANTA HOME LOAN I. Devices that Al used to control his business Before he went back to school a. Result control: - Al paid each telemarketer a combination of an hourly wage plus a performance bonus ($10.00) for each lead produced. - Al paid the loan officers 40% of the total loan revenue on loans that AHL originated and 60% on loans they originated. b. Action controls: - Al bought leads from list brokers, then telemarketers called people on the lists to assess their interest in refinancing
Words: 654 - Pages: 3
originated when Mr. James D Mcnair, President of the farmers and merchants bank had a small water line run from the city of aiken to his home near montmorenci. When president Dwight d Eisenhower approved the rural area development in 1960 it was rumored hud in Atlanta ga had some money to give away. Messers. James d mnair Charles venning and Oscar b simpson flew to Atlanta to investigate and check out some figures to no avail. The people in the community had a meeting in the aiken electric coop and some
Words: 449 - Pages: 2
crisis i. Fixed mortgage versus floating 1. Demyanyk, Y., & Van Hemert, O. (2011). Understanding the Subprime Mortgage Crisis. Review of Financial Studies, 24(6), 1848-1880. ii. High risk mortgage loans and lending/borrowing practices 1. Peterson, C.L. (2009). Fannie Mae, Freddie Mac, and the Home Mortgage Foreclosure Crisis. Loyola Journal of Public Interest Law, 101-149. 2. Razaki, K.& Koprowski, W. (2012). The Paucity of Fed Enforcement Actions Leading to the Subprime Mortgage Crisis
Words: 970 - Pages: 4
