Sentence examples for mortgage package from inspiring English sources

Federal records show it was the largest mortgage package given by MBNA to any single debtor that year.

The Citi mortgage package was declared in default a mere nine months later, and according to the S.E.C., Citigroup's clients lost over $700 million while Citi raked in a $160 million profit on its short position.

A spokesman for MBNA, Brian Dalphon, said the company's loan officers had apparently offered the mortgage package to Mr. Moran without realizing that he was a member of Congress and might be involved in the bankruptcy bill.

The SEC's prosecution of Goldman focuses on a single transaction in which the firm is charged with tricking clients into investing in a mortgage package known as a synthetic CDO that was filled with doomed home loans.

MBNA spokesman Brian Dalphon said that the bank had offered the mortgage package not knowing that Moran was a member of Congress, and that the loan "made good business sense" because with the mortgage loan, "we improved our position by getting security for an unsecured loan..

She said that house purchases fell to 36,000 in June as banks and building societies tightened lending conditions and took many mortgage packages off the market.

Trading profits have also been waning amid a slowdown in volumes, and Wall Street's once-lucrative mortgage packaging business is unlikely to bring in the blockbuster fees it earned during the housing boom.

It was Lewis Ranieri, as a trader at Salomon Brothers in the 1980's, who famously worked to develop the American market for these mortgage packages, which are resold as securities by Fannie Mae and many banks and make mortgages cheaper for homeowners.

The new rules would encourage lending institutions to offer borrowers "guaranteed mortgage packages" that would specify the interest rates and total settlement charges right at the start, an approach that is inhibited by current regulations.

It emerged that as many as 90% of the loans in certain mortgage packages securitised by Goldman had been written on a so-called "stated income" basis, meaning that homeowners were not required to offer any proof of their salaries on mortgage applications.

RS: Yeah, you know, they weren't making light bulbs and refrigerators for their profit; they were doing, you know mortgage packages and finance and everything.