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But new underwriting standards imposed in 2011 have made PLUS loans more difficult to secure.
Berkshire invested $93 million in Trenwick, and freed up $119 million in new underwriting capacity by providing reinsurance on some of the syndicate's business.
DEBT has been so cheap for so long in America that new underwriting for a company with a catastrophic balance sheet on terms once reserved for the most prudent raises barely a shrug.
Several investment banks are being investigated for alleged abuses during IPOS, analysts are being criticised for acting as cheerleaders of worthless shares in Internet companies in order to win their firms new underwriting business.
New underwriting policies encouraged many low- and moderate-income families to make a risky financing decision – one combining poor credit with a 30-year loan term, high debt, and a low down payment.
Kris Yamamoto, a spokeswoman for Bank of America, said in an e-mail that the longer processing times are the result of the "dramatic changes" the mortgage environment has undergone in recent years, including "new underwriting standards being enforced and regulatory changes enacted" to ensure that consumers can safely afford their mortgages.
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Government responses such as tax breaks are of course welcome, but they are ideological – rewarding end-result economic activity rather than stimulating the new by underwriting risk.
As many as 65percentt of commercial mortgages maturing over the next few years are unlikely to qualify for refinancing because of the drop in values and new stricter underwriting standards, he said.
Egypt's new constitution underwrites the army's judicial independence.
As millions of gardeners prepare for spring planting, a new study underwritten by The Nature Conservancy warns that imported nursery stock poses an increasing threat to the environment.
Banks and insurers would take steep haircuts, as write-downs are called, but would get new bonds underwritten by the European rescue fund.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com