Search results
Results From The WOW.Com Content Network
e. Money creation, or money issuance, is the process by which the money supply of a country, or an economic or monetary region, [note 1] is increased. In most modern economies, money is created by both central banks and commercial banks. Money issued by central banks is a liability, typically called reserve deposits, and is only available for ...
Credit is made up of two parts, the credit and its corresponding debt, which requires repayment with interest. The majority (97% as of December 2013) of the money in the UK economy is created as credit. When a bank issues credit (i.e. makes a loan), it writes a negative entry in to the liabilities column of its balance sheet, and an equivalent ...
Credit theory of money. Single and split tally sticks in the Swiss Alpine Museum – similar items may have been used in debt based economic systems thought to pre-date the use of coinage. Credit theories of money, also called debt theories of money, are monetary economic theories concerning the relationship between credit and money.
No income, no asset. No income, no asset (NINA) [1] is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage. A loan issued under such circumstances may be referred to as a NINA loan or NINJA loan . NINA programs are ostensibly created [2] for those ...
Debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. [1] Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial ...
Fannie Mae. The Federal National Mortgage Association ( FNMA ), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, [3] the corporation's purpose is to expand the secondary mortgage market by ...
The Federal Housing Administration ( FHA ), also known as the Office of Housing within the Department of Housing and Urban Development (HUD), is a United States government agency founded by President Franklin Delano Roosevelt, established in part by the National Housing Act of 1934. Its primary function is to provide insurance for mortgages ...
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.