The second and third buckets would differ only in that one would be for specific loans with problems, while the other could be for groups of loans — such as mortgages in a town whose major employer was going out of business, or loans to a country that was facing fiscal difficulties.
It's this engine that tells customers on a loan-by-loan basis what repayment options exist for their specific loans that he believes sets Binksty apart from others in the space.
But privately, participants in some of the meetings said, the Obama administration has raised objections, saying it did not believe it was appropriate to pressure financial institutions to make concessions for specific loans or businesses, according to one person who attended a meeting with Treasury and White House officials on the topic but asked to remain anonymous.
These products are not, for the most part, closely tied to any specific loans or assets the banks may hold.
And for specific loan scenarios, click here for tips on navigating matters such as how to make a loan payment, and what to do if you can't afford your loan payments.
Specific loan product requirements for credit score, debt-to-income ratio, down payment, etc.
The increase, it said, was the result of "a provision set aside for one specific loan".
You will however need to complete this process if you signed for a specific loan and it never disbursed.
Available loan terms are 3, 5, 7, 10, or 12 years; available terms for a specific loan will be based on the loan principal and facility or equipment type.
From there, you still have to apply for a specific loan program and go through the underwriting process.
Would you be better off paying 3 percent of your income for 20 years, or 6.8 percent on a specific loan amount?
