Trump loaned his effort another $2.2m, bringing his total outlay over the past year to about $46m – almost all of which is loans.
Mr. Talbott: Including credit card balances, which are loans too, reflects the reality that a large majority of small-business owners use their credit cards to run their business.
For one thing, it's not confined to subprime mortgages, which are loans to people who don't satisfy the standard financial criteria.
It owns another $16 billion in Alt-A mortgages, which are loans to borrowers with credit that is slightly better but still shaky.
One controversial source of OneWest foreclosures is the corporation's reverse mortgages, which are loans to elderly homeowners that enable them to borrow against their home equity.
Despite government efforts to ease credit around the country, the market in New York is being starved by a limited availability of credit, especially for jumbo mortgages, which are loans of more than $729,750.
The impasse is particularly serious for whole mortgages, which are loans that banks have kept on their own books instead of selling them to Wall Street firms, which bundle them into pools and resell them as mortgage-backed securities.
The bank's provision for credit losses was a credit of $22 million compared with a charge of $147 million in the 2009 quarter, because of the current quarter's 26 percent decline in criticized assets, which are loans that are classified just above nonperforming loans.
What's worse, Mark Kantrowitz says, you may not be able to quickly tell which items are grants and which are loans.
"Wall Street has created a new asset class, or better yet, a new category of securities, which are loans for fix-and-flip investors.
