Sentence examples for payment of the borrower from inspiring English sources

The modifications reduce the interest payment of the borrower and often extend the term of the loan as well.

This platform, administered by the online investment brokerage FOLIOfn, also allows lenders to buy additional, already established Prosper loans after examining the payment history of the borrowers involved.

The F.H.A., which required its token down payment and documentation of the borrower's earning power, lost ground.

The Obama plan aims to lower monthly payments to 31percentt of the borrower's gross income by reducing interest rates to as low as 2percentt, extending the loan term or deferring principal.

The source is a cash payment by the borrower to the lender of money that would otherwise have been used as the down payment.

The practice involves lenders issuing mortgages at high interest rates for people with lower incomes or poor credit ratings, usually involving adjustable rates and sometimes no down payment and no investigation of the borrower's circumstances.

This would have increased its risk since lenders view the down payment as a key measure of the borrower's ability to repay.

What's more, new federal legislation taking effect in July will cap monthly payments based on a percentage of the borrower's income.

The National Consumer Law Center's Lauren Saunders pointed out that while promising, the agency's "proposal would permit a triple-digit six-month installment loan if payments are limited to 5% of the borrower's gross income, regardless of the borrower's expenses or debts".

It shows that in June, 58percentt of modifications cut the payments that the borrower has to pay, a slightly smaller percentage than in April or May.

Taken together, the modifications lower the monthly payment to no more than 38percentt of the borrower's pretax income.