ANALYSIS OF MORTGAGE LENDING IN BANKS IN UKRAINE

Directory of Open Access Journals (Sweden)

Violetta Kharabara

2017-11-01

Full Text Available The purpose is a mortgage market that occupies one of the major places among the financial mechanisms of economic stimulation and stable development of the economy. The mortgage market occupies one of the main places of financial mechanisms and economic incentives for the sustainable economic development. Mortgage lending covers the provision of long-term bank loans for the purchase, construction of residential real estate, as well as for repairs or to develop their own small businesses, where the collateral for such loans is real estate. Distinctive features of mortgages include: mortgages, like any collateral, in fact, is a way to ensure proper implementation of the other (main liabilities – loan or credit agreement, lease, contract, compensation, etc.; the subject of a mortgage is always real estate. Real estate includes land plots and everything that is firmly associated with them: buildings, perennial plants, etc.; mortgaged property remains in the possession of the debtor; the agreement between the creditor and the debtor on the establishment of a mortgage is formalized by a special document – the mortgage, which is also subject to state registration. The mortgage crediting is the method of accumulation of financial resources, effective instrument of bank activity, and an important factor in economic development of the country on the whole. Research results are market of the real estate and financial services development, to the revival of fund market, here the mortgage crediting is capable not only of activating reforms in industries of the economy but also gradually providing the decision of housing problems of the population. Practical consequences consist in the solution of problems that are related to the market for mortgage services of Ukraine’s development from 2006 to 2016. Value/originality. Analysis of the mortgage market in Ukraine shows that in recent years, its scope, dynamics, and trends do not meet the needs of either

Securitization, loan modification and the supply of subprime mortgage credit in the US

Directory of Open Access Journals (Sweden)

Anton Theunissen

2013-10-01

Full Text Available This paper develops a continuous time, contingent claims model of mortgage valuation with strategic behavior to show that mortgages that are securitized are characterized by significantly higher loan to value ratios than mortgages held on the balance sheet of the originator, if securitized mortgages cannot be renegotiated. Insofar as securitization inhibits loan modification, it serves as a credible threat to the borrower that default will provoke foreclosure. This enhances the value of the lender’s claim on the loan collateral, the home, and she is willing to lend more per dollar of collateral value. An important implication of the analysis is that the higher loan to value ratio for the securitized mortgage does not imply that the securitized mortgage is characterized by looser underwriting standards than the mortgage held on balance sheet. Higher loan to value ratios for securitized mortgages do not necessarily constitute evidence that securitization encourages risky lending.

78 FR 59890 - Qualified Mortgage Definition for HUD Insured and Guaranteed Single Family Mortgages

Science.gov (United States)

2013-09-30

... construction and policy implications demonstrates that there are sound reasons for adopting either... borrower except for minor adjustments.\\16\\ \\16\\ Handbook 4155.1, Ch. 6, Sec. C (Mortgage Credit Analysis....gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh/4155.1 . Requiring...

Anglo-American Credit Scoring and Consumer Debt in the Subprime Mortgage Crisis of 2007 as Models for Other Countries?

Directory of Open Access Journals (Sweden)

Thomas Fay Ruddy

2010-08-01

Full Text Available The system of credit scoring has been built up in recent times on the basis of a compromise struck between individuality and surveillance in ways that boosted consumption through consumer debt. This paper considers the role of credit scoring in the recent financial crisis, concluding that even if credit scoring had worked as intended under its own terms, the practice would not have been enough to limit the defaulting of mortgage borrowers under conditions of falling house prices. The broader economic problem is the crippling amount of consumer debt involved; hence the paper places credit scoring in the larger explanatory framework of consumer debt and, more generally, consumerism in its more problematic form. The sorting accomplished by credit scoring is open to abuses in the marketplace, unless it is tempered by the application of guardrails by a regulatory authority. As cultures beyond the Anglo-American sphere adopt this practice, guardrails like those applied to credit scoring in America are needed; as even the current U.S. Administration has acknowledged, the existing guardrails will have to be complemented by stricter social standards. The paper provides a derivation of the theoretical background on credit scoring as surveillance, and includes a literature survey.

78 FR 78519 - Appraisals for Higher-Priced Mortgage Loans

Science.gov (United States)

2013-12-26

... where the holder of the credit risk of the existing obligation remains the same on the refinancing. The....'' Specifically, new TILA section 129H prohibits a creditor from extending credit in the form of a ``higher-risk... rule.\\8\\ The term ``higher-risk mortgage'' generally encompasses a closed-end consumer credit...

On Security of Collateral in Danish Mortgage Finance

DEFF Research Database (Denmark)

Haldrup, Karin

2017-01-01

on the balance principle that assigns risks and responsibility to market players in a self-disciplinary manner and protected the mortgage banks against cash flow mismatches even during deep crisis, as history attests. It is shown how property registers and effective enforcement have created transparent property......Specialized mortgage intermediaries in Denmark have for over two hundred years provided owners and buyers of real property wide access to credit. The present paper sets out to explore the safeguards that nurtured development of a robust, market based financing system and a deep mortgage market....... Observations are made on the nature of collateral performance in respect to property rights, mortgage law and market development in search of general features of required institutional arrangements. The robustness of the Danish mortgage finance system is largely accredited to the securitization model based...

Indexation of Consumer and Mortgage Credit in Iceland in 2014: A Critical Battle between Legality, Fairness and Legitimacy

Directory of Open Access Journals (Sweden)

Maria Elvira Mendez Pinedo

2014-11-01

Full Text Available Six years after the financial crisis that led to the collapse of the banking system in 2008, the over-indebtedness of households is one of the most important problems in Iceland. This study aims to cast light on a specific feature of the Icelandic credit system in connection with the problem of over-indebtedness. The main research question is whether the end of indexation of credit is close or not. The author argues, in the first place, that indexation of credit ex-post to the consumer price index (CPI in negative amortization schemes is responsible for over-indebtedness. In the second place, the author describes the challenges ahead in the field of consumer and mortgage credit in Iceland in the light of European law (European Union EU and European Economic Area EEA. The incorporation of Directive 2008/48 on credit agreement for consumers to the Icelandic domestic order through the EEA Agreement allowed a preliminary legal review of the practice in light of EU/EEA consumer credit law, both at national and European level without a final conclusion. It has nevertheless led to the judicial review on the legality of some indexation alleged malpractices before national courts and to the EFTA Court for interpretation (mostly on Directives 93/13/EEC on unfair terms 87/102/EEC on consumer credit. A ruling from the Supreme Court is expected on several cases. A critical battle between the legality, the fairness and the legitimacy of indexation of credit is taking place in Iceland under the influence of European law.

Mortgage Finance and Security of Collateral

DEFF Research Database (Denmark)

Haldrup, Karin

2011-01-01

Developing economies face a gigantic lack of financing for urbanization due to the absence of formal and transparent property markets. The paper discuss the interference between mortgage finance and collateral security by using the Danish mortgage financing model as an example, because of its 200...... years long history, and because the system is recommended as an option in emerging markets and as a possible model for remedying failures in mature housing finance markets. It is suggested that development policies in land administration need to be revised in order to support a widening of credit...

24 CFR 206.37 - Credit standing.

Science.gov (United States)

2010-04-01

... CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement Eligible Mortgagors § 206.37 Credit standing. Each mortgagor must have a general credit standing satisfactory to the Secretary. ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Credit standing. 206.37 Section 206...

12 CFR 615.5570 - Book-entry procedures for Federal Agricultural Mortgage Corporation Securities.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Book-entry procedures for Federal Agricultural Mortgage Corporation Securities. 615.5570 Section 615.5570 Banks and Banking FARM CREDIT ADMINISTRATION... Federal Agricultural Mortgage Corporation Securities § 615.5570 Book-entry procedures for Federal...

Second Mortgages

DEFF Research Database (Denmark)

Miltersen, Kristian R.; Torous, Walter N.

correlates homeowners' default decisions so that a large drop in house prices can result in almost all of these homeowners defaulting together. In this case, even the most senior tranches of structured financial products collateralized by first-lien mortgages may no longer be protected from default losses...... after the bursting of the U.S. housing bubble. By contrast, our results are not consistent with the argument that the observed downgrades occurred because the severity of the U.S. housing market downturn was underestimated by credit rating agencies....

Probabilistic assessment of dry transport with burnup credit

International Nuclear Information System (INIS)

Lake, W.H.

2003-01-01

The general concept of probabilistic analysis and its application to the use of burnup credit in spent fuel transport is explored. Discussion of the probabilistic analysis method is presented. The concepts of risk and its perception are introduced, and models are suggested for performing probability and risk estimates. The general probabilistic models are used for evaluating the application of burnup credit for dry spent nuclear fuel transport. Two basic cases are considered. The first addresses the question of the relative likelihood of exceeding an established criticality safety limit with and without burnup credit. The second examines the effect of using burnup credit on the overall risk for dry spent fuel transport. Using reasoned arguments and related failure probability and consequence data analysis is performed to estimate the risks of using burnup credit for dry transport of spent nuclear fuel. (author)

The Great Mortgaging: Housing Finance, Crises, and Business Cycles

OpenAIRE

Oscar Jorda; Moritz Schularick; Alan M. Taylor

2014-01-01

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have risen substantially in many countries. Financial stability risks have been increasingly linked to real estate lending booms which are...

A New Paradigm in Islamic Housing: Non-Bank Islamic Mortgage

Directory of Open Access Journals (Sweden)

Egi Arvian Firmansyah

2018-05-01

Full Text Available An increasing demand for a sharia-compliant housing has resulted in a new initiative where the mortgage can presently be directly handled by the developer without involving the bank. This is called non-bank Islamic mortgage. This paper is aimed at portraying the consumer’s profile of non-bank Islamic mortgage and the issues of this practice. We disseminated questionnaires to the respondents in several cities in West Java who bought the house-using non-bank Islamic mortgage scheme. Subsequently, we synthesized the answers regarding their profiles and issues of the scheme for the betterment in the future. One of the issues of this scheme is the higher fraud because there is no rigorous credit scoring as conducted by the bank. The research of non-bank Islamic mortgage is still scant so this paper is expected to shed the light by contributing to the literature of Islamic home financing.DOI: 10.15408/aiq.v10i2.7274

12 CFR 226.39 - Mortgage transfer disclosures.

Science.gov (United States)

2010-01-01

... to the loan or it is assigned to the servicer solely for the administrative convenience of the servicer in servicing the obligation. (2) A “mortgage loan” means any consumer credit transaction that is secured by the principal dwelling of a consumer. (b) Disclosure required. Except as provided in paragraph...

Policy Incentives and the Extension of Mortgage Credit: Increasing Market Discipline for Subprime Lending

Science.gov (United States)

An, Xudong; Bostic, Raphael W.

2009-01-01

The lax underwriting in non-prime mortgage markets is widely perceived as one cause of the recent difficulties in the housing market. Policymakers are currently considering moves such as enforcing more careful underwriting to provide additional discipline to mortgage markets. This research explores the possibility of another approach to supplement…

12 CFR Appendix B to Part 1720 - Policy Guidance; Non-Mortgage Liquidity Investments

Science.gov (United States)

2010-01-01

... investment activities. The Board of Directors and management must evaluate the effectiveness of non-mortgage... Board in terms of why they occurred (e.g., changes in portfolio composition, changes in funding costs... reviewed annually, for: i. Credit threshold guidelines: Credit quality is a compelling factor for liquidity...

26 CFR 1.25-3T - Qualified mortgage credit certificate (Temporary).

Science.gov (United States)

2010-04-01

... providing the mortgage or to the issuer of the certificate containing a material misstatement and such misstatement is due to fraud. In determining whether any misstatement is due to fraud, the rules generally...

Mortgage loans: an analysis of the portfolios of the largest banks in Brazil

Directory of Open Access Journals (Sweden)

Bruno Vinícius Ramos Fernandes

2013-05-01

Full Text Available Given the current macroeconomic environment experienced in Brazil, where inflation has stabilized and the basic interest rate of the economy is in one of their historical lows, demand for mortgages is increasing. In this context, the mortgage is presented with great emphasis to meet the demand for purchasing housing in addition to being a catalyst for the reduction of the high housing deficit. From a descriptive and empirical-analytic was analyzed the mortgage loan portfolio of the largest banks of the country between the years 2001 and 2010 through Quarterly Financial Information (IFT available on the Central Bank website. It was settled a comparative relationship between the data in order to check the development of mortgage portfolios over the years and the factors that influenced this evolution, and evaluate the timeliness and quality of those loans. For the evolution of the portfolio there was an economic context in which Brazil was included in the period, and observed that for most of these operations are long term the banks are more exposed to market risk. With regard to credit risk parse that, over the years, Brazilian banks are presenting a mortgage loan portfolio with lower risk, and it is found that institutions with real estate credits with higher levels of portfolio risk are subject to have higher losses on such operations in the possibility of default.

12 CFR 614.4000 - Farm Credit Banks.

Science.gov (United States)

2010-01-01

... make, provided the borrower eligibility, membership, term, amount, loan security, and stock or... Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Lending... the requirements in § 614.4200 of this part, to make real estate mortgage loans with maturities of not...

Credit cycle coherence in the eurozone : Was there a euro effect?

NARCIS (Netherlands)

Samarina, Anna; Zhang, Lu; Bezemer, Dirk

2017-01-01

This paper examines effects of the euro introduction on credit cycle coherence in the euro-zone through six channels. We construct and describe credit cycles for total bank credit, household mortgages and non-financial business loans for 16 EMU economies over 1990-2015. Credit cycle coherence is

12 CFR 614.4030 - Federal land credit associations.

Science.gov (United States)

2010-01-01

..., amount, loan security, and stock or participation certificate requirements of the originating institution... Section 614.4030 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND... estate mortgage loans with maturities of not less than 5 years nor more than 40 years and continuing...

Mortgage finance in Central and Eastern Europe : Opportunity or burden?

NARCIS (Netherlands)

Beck, T.H.L.; Kibuuja, K.; Tiongson, E.; Cull, R.; Demirguc-Kunt, A.; Murdoch, J.

2012-01-01

Household credit, especially for mortgages, has doubled over the past years in the new European Union member countries, raising concerns about the economic and social consequences of household indebtedness in the event of a macroeconomic crisis. Using household survey data for 2005, 2006, and 2007

A primer on the mortgage market and mortgage finance

OpenAIRE

Daniel J. McDonald; Daniel L. Thornton

2008-01-01

This article is a primer on mortgage finance. It discusses the basics of the mortgage market and mortgage finance. In so doing, it provides useful information that can aid individuals in making better mortgage finance decisions. The discussion and the tools are presented within the context of mortgage finance; however, these same principles and tools can be applied to a wide range of financial decisions.

Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy

OpenAIRE

Ivo Pezzuto

2012-01-01

In the fall of 2008, the U.S. subprime mortgage loans defaults have turned into Wall Street’s biggest crisis since the Great Depression. As hundreds of billions in mortgage-related investments went bad, banks became suspicious of one another’s potential undisclosed credit losses and preferred to reduce their exposure in the interbank markets, thus causing interbank interest rates and credit default swaps increases, a liquidity shortage problem and a worsened credit crunch condition to consume...

Use of burnup credit for transportation and storage

International Nuclear Information System (INIS)

Sanders, T.L.; Ewing, R.I.; Lake, W.H.

1991-01-01

Burnup credit is the application of the effects of fuel burnup to nuclear criticality design. When burnup credit is considered in the design of storage facilities and transportation casks for spent fuel, the objectives are to reduce the requirements for storage space and to increase the payload of casks with acceptable nuclear criticality safety margins. The spent-fuel carrying capacities of previous-generation transport casks have been limited primarily by requirements to remove heat and/or to provide shielding. Shielding and heat transfer requirements for casks designed to transport older spent fuel with longer decay times are reduced significantly. Thus a considerable weight margin is available to the designer for increasing the payload capacity. One method to achieve an increase in capacity is to reduce fuel assembly spacing. The amount of reduction in assembly spacing is limited by criticality and fuel support structural concerns. The optimum fuel assembly spacing provides the maximum cask loading within a basket that has adequate criticality control and sufficient structural integrity for regulatory accident scenarios. The incorporation of burnup credit in cask designs could result in considerable benefits in the transport of spent fuel. The acceptance of burnup credit for the design of transport casks depends on the resolution of system safety issues and the uncertainties that affect the determination of criticality safety margins. The remainder of this report will examine these issues and the integrated approach under way to resolve them. 20 refs., 2 figs

Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy

Directory of Open Access Journals (Sweden)

Ivo Pezzuto

2012-09-01

Full Text Available In the fall of 2008, the U.S. subprime mortgage loans defaults have turned into Wall Street’s biggest crisis since the Great Depression. As hundreds of billions in mortgage-related investments went bad, banks became suspicious of one another’s potential undisclosed credit losses and preferred to reduce their exposure in the interbank markets, thus causing interbank interest rates and credit default swaps increases, a liquidity shortage problem and a worsened credit crunch condition to consumers and businesses. Massive cash injections into money markets and interest rates reductions have been assured by central banks in an attempt to shore up banks and to restore confidence within the financial system. Even Governments have promoted bail-out deal agreements, protections from bankruptcies, recapitalizations and bank nationalizations in order to rescue banks from disastrous bankruptcies. The credit crisis originated in the previous years when the Federal Reserve sharply lowered interest rates (Fed Funds at 1% to limit the economic damage of the stock market decline due to the 2000 dot.com companies’ crisis. Lower interest rates made mortgage payments cheaper, and the demand for homes began to rise, sending prices up. In addition, millions of homeowners took advantage of the rate drop to refinance their existing mortgages. As the industry ramped up, the quality of the mortgages went down due to poor credit origination and credit risk assessment. Delinquency and default rates began to rise in 2006 as interest rates rose (Fed Funds at 5,25% and poor households across the US struggled to pay off their mortgages. Many of them went bankrupt and lost their homes but the pace of lending did not slow. Banks have transformed much of the high-risk mortgage debt (securitizations into mortgage-backed securities (MBS and collateralised debt obligations (CDO, and have sold these assets on the financial markets to investment firms and insurance companies

Mortgage market maturity and homeownership inequality among young households: a five-country perspective

Czech Academy of Sciences Publication Activity Database

Bičáková, Alena; Sierminska, E.

-, č. 90 (2008), s. 1-58 ISSN 1864-6689 Institutional research plan: CEZ:AV0Z70850503 Keywords : home ownership * credit constraints * mortgage market Subject RIV: AH - Economics http://www.diw-berlin.de/documents/publikationen/73/79474/diw_sp0090.pdf

Mortgage market maturity and homeownership inequality among young households: a five-country perspective

Czech Academy of Sciences Publication Activity Database

Bičáková, Alena; Sierminska, E.

-, č. 778 (2008), s. 1-51 ISSN 1619-4535 Institutional research plan: CEZ:AV0Z70850503 Keywords : home ownership * credit constraints * mortgage market Subject RIV: AH - Economics http://www.diw-berlin.de/documents/publikationen/73/81771/dp778.pdf

78 FR 6407 - Ability-to-Repay and Qualified Mortgage Standards Under the Truth in Lending Act (Regulation Z)

Science.gov (United States)

2013-01-30

..., and child support; (7) the monthly debt-to-income ratio or residual income; and (8) credit history... concerns were heightened as mortgage delinquencies and foreclosure rates increased dramatically, caused in... to repay.\\6\\ Subprime products were sold primarily to consumers with poor or no credit history...

Status of burnup credit for transport of SNF in the United States

International Nuclear Information System (INIS)

Parks, C.V.; Wagner, J.C.

2004-01-01

Allowing credit for the reduction in reactivity associated with fuel depletion can enable more cost-effective, higher-density storage, transportation, and disposal of spent nuclear fuel (SNF) while maintaining a subcritical margin sufficient to establish an adequate safety basis. This paper reviews the current status of burnup credit applied to the design and transport of SNF casks in the United States. The existing U.S. regulatory guidance on burnup credit is limited to pressurized-water-reactor (PWR) fuel and to allowing credit only for actinides in the SNF. By comparing loading curves against actual SNF discharge data for U.S. reactors, the potential benefits that can be realized using the current regulatory guidance with actinide-only burnup credit are illustrated in terms of the inventory allowed in high-capacity casks and the concurrent reduction in SNF shipments. The additional benefits that might be realized by extending burnup credit to credit for select fission products are also illustrated. The curves show that, although fission products in SNF provide a small decrease in reactivity compared with actinides, the additional negative reactivity causes the SNF inventory acceptable for transportation to increase from roughly 30% to approximately 90% when fission products are considered. A savings of approximately $150M in transport costs can potentially be realized for the planned inventory of the repository. Given appropriate experimental data to support code validation, a realistic best-estimate analysis of burnup credit that includes validated credit for fission products is the enhancement that will yield the most significant impact on future transportation plans

Race, gender, and statistical representation: predatory mortgage lending and the US community reinvestment movement

OpenAIRE

Elvin K Wyly; Mona Atia; Elizabeth Lee; Pablo Mendez

2007-01-01

American mortgage markets, once arenas of discrimination by exclusion, now operate as venues of segmentation and discrimination by inclusion: credit is widely available, but its terms vary enormously. One market segment involves sophisticated predatory practices in which certain groups of borrowers are targeted for high-cost credit that strips out home equity and worsens the risks of delinquency, default, and foreclosure. Unfortunately, it has become more difficult to measure inequalities of ...

Multi-Period Structural Model of a Mortgage Portfolio with Cointegrated Factors

Czech Academy of Sciences Publication Activity Database

Gapko, Petr; Šmíd, Martin

2016-01-01

Roč. 66, č. 6 (2016), s. 565-574 ISSN 0015-1920 R&D Projects: GA ČR GA15-10331S Institutional support: RVO:67985556 Keywords : credit risk * mortgage * loan portfolio * dynamic model * estimation Subject RIV: AH - Economics Impact factor: 0.604, year: 2016 http://library.utia.cas.cz/separaty/2016/E/smid-0467176.pdf

Danish Mortgage Finance, Property Rights Protection and Economic Development

DEFF Research Database (Denmark)

Haldrup, Karin

of screening methods for assessing the readiness for such transplantation depends on a deeper understanding of three large domains: A) Mortgage Finance, B) Cadastre and Land Registration; and C) Economic Development; and the interrelations between these three areas. In particular the thesis has focused...... formal property rights regimes and real credit with implications for development strategies. The PhD was co-sponsored by VP Securities A/S, www.vp.dk...

RESIDENTIAL MORTGAGE IN MODERN RUSSIA

Directory of Open Access Journals (Sweden)

Dementiev N. P.

2015-03-01

Full Text Available The article presents a comparative analysis of residential mortgages in Russia and the United States. The primary ways of mortgage refinancing are outlined. Predominance of the elements of two-level refinancing system of residential mortgage in Russia and the United States is shown. The activity of the Agency for Housing Mortgage Lending (AHML, the basic tool of the Russian government’s mortgage policy, is described in detail. In its objectives and functions the AHML is similar to the American mortgage agencies Ginnie Mae, Fannie Mae and Freddie Mac. Similarities were identified in the Russian and US residential mortgages in the pre-crisis period (high rates of mortgage growth, favourable economic conjuncture, low interest rates, large increase in house prices, speculative housing demand. During the mortgage crisis, the policies of the Russian and US governments and monetary authorities had also much in common (monetary policy easing, cheap central banks loans, extended facilities of mortgage refinancing on the part of state agencies, mortgage rescue scheme, social mortgage programs. But the scope of mortgage in Russia is enormously narrow as compared to the US mortgage. The most important reason for that - low incomes of the Russian population.

Location mortgage in accounting objects

Directory of Open Access Journals (Sweden)

I.M. Vygiska

2015-12-01

Full Text Available The article analyzes the mechanism of the implementation of all kinds of mortgage (mortgage, pledge, mortgage of securities, security of property rights, the mortgage of goods in circulation or processing, tax lien defined the specificity of receipt/return of the mortgage, particularly payments between mortgagor and the mortgagee. Determine the subject property entities that can act as mortgage; identified by their place in the system of objects of accounting mortgagor and the mortgagee. The peculiarities of the balance sheet and off-balance sheet assets as a reflection of your collateral. Identified two groups of mortgage transactions: transactions with mortgage for its receipt and transmission; business transactions related to the conditions of loan agreements (loan and mortgage. The results are shown in the research paper proposals allow for further research to develop mortgage organizational and methodological support the operations accounting for the effective management of financial resources and obligations, collateralised.

Risks of Mortgage Loans in the Czech Republic

Directory of Open Access Journals (Sweden)

Jaroslav Tichý

2015-10-01

Full Text Available Indebtedness through mortgage loans is dominant of household debt in the Czech Republic. The gradual increase in the household debt level may also entail increasing credit risk assumed by banks in connection with their credit exposure to this sector. The objective of the paper is to verify the risk and identify factors that affect the credit risk development in the Czech Republic. We look for correlation between the risk development and the interest rate development. Furthermore, we verify links between the risk and the development of real estate collateral value. The paper does confirm that there are real risks associated with the potential increase in interest rates. No significant risks have been confirmed with regard to the current development of the residential property value. The paper also strives to provide an identification and verification of risks stemming from individual banks’ internal processes. It features a detailed analysis of the internal factors (aspects comprising revenue, competition, as well as distribution.

Burnup credit for storage and transportation casks

International Nuclear Information System (INIS)

Wells, A.H.

1988-01-01

The application of burnup credit to storage and transportation cask licensing results in a significant improvement in cask capacity and an associated reduction of the cost per kilogram of uranium in the cask contents. The issues for licensing with burnup credit deal primarily with the treatment of fission product poisons and methods of verification of burnup during cask operations. Other issues include benchmarking of cross-section sets and codes and the effect of spatial variation of burnup within an assembly. The licensing of burnup credit for casks will be complex, although the criticality calculations are not themselves difficult. Attention should be directed to the use of fission product poisons and the uncertainties that they introduce. Verification of burnup by measurements will remove some of the concerns for criticality safety. Calculations for burnup credit casks should consider rod-to-rod and axial variations of burnup, as well as variability of burnable poisons it they are used in the assembly. In spite of the complexity of cask burnup credit licensing issues, these issues appear to be resolvable within the current state of the art of criticality safety

Application of gadolinia credit to cask transportation of BWR-STEP3 SFAs

International Nuclear Information System (INIS)

Kikuchi, Tsukasa; Mitsuhashi, Ishi; Ito, Dai-ichiro; Nakamura, Yu

2003-01-01

Instead of the fresh-fuel assumption, the application of gadolinia credit to cask transportation of BWR SFAs is studied. Its efficacy for BWR-STEP2 SFAs had already been estimated. This paper reports on the application of gadolinia credit to cask transportation of BWR-STEP3 SFAs. (author)

Numerical ability predicts mortgage default.

Science.gov (United States)

Gerardi, Kristopher; Goette, Lorenz; Meier, Stephan

2013-07-09

Unprecedented levels of US subprime mortgage defaults precipitated a severe global financial crisis in late 2008, plunging much of the industrialized world into a deep recession. However, the fundamental reasons for why US mortgages defaulted at such spectacular rates remain largely unknown. This paper presents empirical evidence showing that the ability to perform basic mathematical calculations is negatively associated with the propensity to default on one's mortgage. We measure several aspects of financial literacy and cognitive ability in a survey of subprime mortgage borrowers who took out loans in 2006 and 2007, and match them to objective, detailed administrative data on mortgage characteristics and payment histories. The relationship between numerical ability and mortgage default is robust to controlling for a broad set of sociodemographic variables, and is not driven by other aspects of cognitive ability. We find no support for the hypothesis that numerical ability impacts mortgage outcomes through the choice of the mortgage contract. Rather, our results suggest that individuals with limited numerical ability default on their mortgage due to behavior unrelated to the initial choice of their mortgage.

Numerical ability predicts mortgage default

Science.gov (United States)

Gerardi, Kristopher; Goette, Lorenz; Meier, Stephan

2013-01-01

Unprecedented levels of US subprime mortgage defaults precipitated a severe global financial crisis in late 2008, plunging much of the industrialized world into a deep recession. However, the fundamental reasons for why US mortgages defaulted at such spectacular rates remain largely unknown. This paper presents empirical evidence showing that the ability to perform basic mathematical calculations is negatively associated with the propensity to default on one’s mortgage. We measure several aspects of financial literacy and cognitive ability in a survey of subprime mortgage borrowers who took out loans in 2006 and 2007, and match them to objective, detailed administrative data on mortgage characteristics and payment histories. The relationship between numerical ability and mortgage default is robust to controlling for a broad set of sociodemographic variables, and is not driven by other aspects of cognitive ability. We find no support for the hypothesis that numerical ability impacts mortgage outcomes through the choice of the mortgage contract. Rather, our results suggest that individuals with limited numerical ability default on their mortgage due to behavior unrelated to the initial choice of their mortgage. PMID:23798401

ENFORCEMENT OF MORTGAGE CONTRACT

Directory of Open Access Journals (Sweden)

Alisa A. BELU

2016-07-01

Full Text Available A chattel mortgage contract is the expression of a real guarantee that gives the creditor precedence over other creditors, in addition to the general pledge upon the belongings of the debtor. It refers to the sale of mortgaged movable assets, exclusively or prioritized in favor of the mortgaging creditor, in case the debtor does not comply with his / her commitments, under the signed mortgage contract. Beginning from this purpose, shared by both sides (as the chattel mortgage contract is synallagmatic, in case the debtor is unable to fulfill his / her commitments, the sides reach a situation of enforcement of the signed chattel mortgage contract. Given the legal status of the chattel mortgage contract [Art. 2387-2477 Noul Cod Civil , Universul Juridic, Bucureşti, 2016, ISBN 978-606-673-792-0], the principle of binding force of the contract and the principle according to which signed legal conventions will entail legal effects, the Romanian law maker developed the proper legal framework for the enforcement of the chattel mortgage contract. [art. 622 si urm. Noul Cod de Procedură Civilă, ed. Hamangiu, Bucureşti, 2016, ISBN 978-606-27-0459-9].

12 CFR 226.36 - Prohibited acts or practices in connection with credit secured by a consumer's principal dwelling.

Science.gov (United States)

2010-01-01

... credit secured by a consumer's principal dwelling. 226.36 Section 226.36 Banks and Banking FEDERAL... with credit secured by a consumer's principal dwelling. (a) Mortgage broker defined. For purposes of...) Misrepresentation of value of consumer's dwelling—(1) Coercion of appraiser. In connection with a consumer credit...

Regulatory status of burnup credit for storage and transport of spent fuel in Germany

International Nuclear Information System (INIS)

Neuber, J.C.; Schweer, H.H.; Johann, H.G.

2001-01-01

This paper describes the regulatory status of burnup credit applications to pond storage and dry-cask transport and storage of spent fuel in Germany. Burnup credit for wet storage of LWR fuel at nuclear power plants has to comply with the newly developed safety standard DIN 25471. This standard establishes the safety requirements for burnup credit criticality safety analysis of LWR fuel storage ponds and gives guidance on meeting these requirements. Licensing evaluations of dry transport systems are based on the application of the IAEA Safety Standards Series No.ST-1. However, because of the fact that burnup credit for dry-cask transport becomes more and more inevitable due to increasing initial enrichment of the fuel, and because of the increasing importance of dry-cask storage in Germany, the necessity of giving regulatory guidance on applying burnup credit to dry-cask transport and storage is seen. (author)

24 CFR 4001.203 - Calculation of upfront and annual mortgage insurance premiums for Program mortgages.

Science.gov (United States)

2010-04-01

... mortgage insurance premiums for Program mortgages. 4001.203 Section 4001.203 Housing and Urban Development... HOMEOWNERS PROGRAM HOPE FOR HOMEOWNERS PROGRAM Rights and Obligations Under the Contract of Insurance § 4001.203 Calculation of upfront and annual mortgage insurance premiums for Program mortgages. (a...

Application of burnup credit concept to transport

International Nuclear Information System (INIS)

Futamura, Yoshiaki; Nakagome, Yoshihiro.

1994-01-01

For the design and safety assessment of the casks for transporting spent fuel, the fuel contained in them has been assumed to be new fuel. The reason is, it was difficult to evaluate the variation of the reactivity of fuel, and the research on the affecting factors and the method of measuring burnup were not much advanced. Recently, high burnup fuel has been adopted, and initial degree of enrichment rose. The research has been advanced for pursuing the economy of the casks for spent fuel, and burnup credit has become applicable to their design and safety assessment. As the result, the containing capacity increases by about 20%. When burnup credit is considered, it is necessary to confirm accurately the burnup of spent fuel. The burnup dependence of the concentration of fissile substances and neutron emissivity, the coolant void dependence of the concentration of fissile substances, and the relation of neutron multiplication rate with initial degree of enrichment or burnup are discussed. The conceptual design of casks considering burnup credit and its assessment, the merit, problem and the countermeasures to it when burnup credit is introduced are described. (K.I.)

Portfolio Optimization and Mortgage Choice

Directory of Open Access Journals (Sweden)

Maj-Britt Nordfang

2017-01-01

Full Text Available This paper studies the optimal mortgage choice of an investor in a simple bond market with a stochastic interest rate and access to term life insurance. The study is based on advances in stochastic control theory, which provides analytical solutions to portfolio problems with a stochastic interest rate. We derive the optimal portfolio of a mortgagor in a simple framework and formulate stylized versions of mortgage products offered in the market today. This allows us to analyze the optimal investment strategy in terms of optimal mortgage choice. We conclude that certain extreme investors optimally choose either a traditional fixed rate mortgage or an adjustable rate mortgage, while investors with moderate risk aversion and income prefer a mix of the two. By matching specific investor characteristics to existing mortgage products, our study provides a better understanding of the complex and yet restricted mortgage choice faced by many household investors. In addition, the simple analytical framework enables a detailed analysis of how changes to market, income and preference parameters affect the optimal mortgage choice.

Alternatives for implementing burnup credit in the design and operation of spent fuel transport casks

International Nuclear Information System (INIS)

Sanders, T.L.; Lake, W.H.

1989-01-01

It is possible to develop an optimal strategy for implementing burnup credit in spent fuel transport casks. For transport, the relative risk is rapidly reduced if additional pre-transport controls such as a cavity dryness verifications are conducted prior to transport. Some other operational and design features that could be incorporated into a burnup credit cask strategy are listed. These examples represent many of the system features and alternatives already available for use in developing a broadly based criticality safety strategy for implementing burnup credit in the design and operation of spent fuel transport casks. 4 refs., 1 tab

17 CFR 210.12-23 - Mortgage loans on real estate and interest earned on mortgages. 1

Science.gov (United States)

2010-04-01

... each of the above classes of mortgage loans the average gross rate of interest on mortgage loans held... mortgages sold Amortization of premium Other (describe) Balance at close of period $ If additions represent... item of mortgage loans on real estate investments has been written down or reserved against pursuant to...

77 FR 7558 - Withdrawal of Proposed Rule on Approval of Farm Credit System Lending Institutions in Federal...

Science.gov (United States)

2012-02-13

... recent difficulties in mortgage finance markets indicated reduced availability of housing credit in rural... System has been a source of consistent and reliable credit for rural homeowners and that the ability to... afoul of the Administration's proposal to reduce government involvement in the housing finance market...

76 FR 15309 - Privacy Act of 1974, as Amended; System of Records; Nationwide Mortgage Licensing System and...

Science.gov (United States)

2011-03-21

... regulated by a Federal banking agency or the Farm Credit Administration who acts as a residential mortgage... information online into the NMLSR Web site. Once collected, the information will be maintained in the NMLSR.... FINRA operates similar systems in the securities industry. More information about this system is...

Supply Chain Model with Stochastic Lead Time, Trade-Credit Financing, and Transportation Discounts

Directory of Open Access Journals (Sweden)

Sung Jun Kim

2017-01-01

Full Text Available This model extends a two-echelon supply chain model by considering the trade-credit policy, transportations discount to make a coordination mechanism between transportation discounts, trade-credit financing, number of shipments, quality improvement of products, and reduced setup cost in such a way that the total cost of the whole system can be reduced, where the supplier offers trade-credit-period to the buyer. For buyer, the backorder rate is considered as variable. There are two investments to reduce setup cost and to improve quality of products. The model assumes lead time-dependent backorder rate, where the lead time is stochastic in nature. By using the trade-credit policy, the model gives how the credit-period would be determined to achieve the win-win outcome. An iterative algorithm is designed to obtain the global optimum results. Numerical example and sensitivity analysis are given to illustrate the model.

24 CFR 257.203 - Calculation of up-front and annual mortgage insurance premiums for H4H program mortgages.

Science.gov (United States)

2010-04-01

... mortgage insurance premiums for H4H program mortgages. 257.203 Section 257.203 Housing and Urban... mortgage insurance premiums for H4H program mortgages. (a) Applicable premiums. Any mortgage presented for... LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES HOPE FOR HOMEOWNERS PROGRAM...

Terminated Multifamily Mortgages Database

Data.gov (United States)

Department of Housing and Urban Development — This dataset includes all terminated HUD Multifamily mortgages except those from the Hospital Mortgage Insurance Program. It includes the Holder and Servicer at the...

Mortgage Finance in Denmark

DEFF Research Database (Denmark)

2011-01-01

A brief introduction to the Danish mortgage system and some of the challenges and possibilities within this framework.......A brief introduction to the Danish mortgage system and some of the challenges and possibilities within this framework....

24 CFR 203.18c - One-time or up-front mortgage insurance premium excluded from limitations on maximum mortgage...

Science.gov (United States)

2010-04-01

... insurance premium excluded from limitations on maximum mortgage amounts. 203.18c Section 203.18c Housing and...-front mortgage insurance premium excluded from limitations on maximum mortgage amounts. After... LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES SINGLE FAMILY MORTGAGE...

Mortgage Debt and Wages

DEFF Research Database (Denmark)

Wood, James

2017-01-01

Different approaches to mortgage debt may impact wages, how homeowners engage with employers and welfare services, and economic growth.......Different approaches to mortgage debt may impact wages, how homeowners engage with employers and welfare services, and economic growth....

Mortgage market regulation: Europe

NARCIS (Netherlands)

Aalbers, M.B.; Smith, S.J.

2012-01-01

Despite several European Union (EU) initiatives, there is only limited pan-European mortgage market regulation. The EU strategy can be characterised as one of parallel liberalisation and consolidation. This article highlights the key differences in regulation among European mortgage markets.

76 FR 4408 - Notice of Funding Availability for Applications for Credit Assistance Under the Transportation...

Science.gov (United States)

2011-01-25

... to be selected for credit assistance. Because demand for the TIFIA program can exceed budgetary... Applications Because the demand for credit assistance can exceed budgetary resources, the DOT is utilizing... Availability for Applications for Credit Assistance Under the Transportation Infrastructure Finance and...

76 FR 3190 - Notice of Funding Availability for Applications for Credit Assistance Under the Transportation...

Science.gov (United States)

2011-01-19

... specified criteria to be selected for credit assistance. Because demand for the TIFIA program can exceed... Applications Because the demand for credit assistance can exceed budgetary resources, the DOT is utilizing...] Notice of Funding Availability for Applications for Credit Assistance Under the Transportation...

24 CFR 221.254 - Mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premiums. 221... Cost Homes § 221.254 Mortgage insurance premiums. (a) All of the provisions of §§ 203.260 through 203.295 of this chapter relating to mortgage insurance premiums shall apply to mortgages insured under...

76 FR 53362 - Approval of Farm Credit System Lending Institutions in FHA Mortgage Insurance Programs

Science.gov (United States)

2011-08-26

... marketing activities, and to farm-related businesses. The Farm Credit banks collectively issue debt... institutions. The four farm credit banks, one agricultural credit bank (hereinafter collectively referred to as the Farm Credit banks), and their direct lender associations (the Agricultural Credit Associations...

Fiscally Unsustainable Social Welfare, Untenable Housing Solutions and the Mortgage Default Ratio in South Africa

Directory of Open Access Journals (Sweden)

Vuyisani Vuyisani Moss

2013-10-01

Full Text Available This article reflects on social welfare system and governance of housingmarkets from an end-user perspective. The article critically analyses the wayin which social welfare has correlated to unsustainable development and createdself entitlement behaviours and attitudes in the South African low incomehousing market.  The phenomenon wasdemonstrable by empirical research whose findings confirmed an existence of anassociation between a fully subsidized social housing model (as underpinned bySouth Africa’s social welfare and propensity to default on mortgages.  The study found that the risk of default byhomeowners in the low income housing market in South Africa is influenced bygovernment’s housing grant model. In other words, the research established thatthe principle of servicing a mortgaged starter property (that is almost similarto a government free house by both structure and design is not universallyaccepted by homeowners of these mortgaged houses.  The unintended consequences are that thesystem has created indefinite expectations that potentially could; (i erodethe country’s balance sheet; (ii add to non-payment behaviour; (iii pressurizethe economic and credit systems; (iv propagate entitlement attitudes andmindsets; (v create social instability and (v widened the country’s balanceof payment deficits.

2008 Emlak Krizinin İller Bazında Etkileri(The Effects of 2008 Subprime Mortgage Crisis On The Cities

Directory of Open Access Journals (Sweden)

Burhan KABADAYI

2013-12-01

Full Text Available The aim of the study is to examine the effects of 2008 Mortgage Crisis started at USA on the cities of Turkey. The effects of the crisis were analyzed by current bank credit per capita and external trade structure. As a consequence, relatively less developed cities were affected by crisis less than developed cities of Turkey.

The globalization and Europeanization of mortgage markets

NARCIS (Netherlands)

Aalbers, M.B.

2009-01-01

Do globalization and Europeanization lead to the deterritorialization of European mortgage markets? Neither economic globalization nor EU policies have resulted in one European mortgage market. The various European mortgage markets are still quite different from one another in many respects. In most

24 CFR 203.255 - Insurance of mortgage.

Science.gov (United States)

2010-04-01

... Mortgage Scorecard is used by the mortgagee, and the TOTAL Mortgage Scorecard has determined that the application represents an acceptable risk under terms and conditions agreed to by the FHA, a Direct... also applicable to the use of the TOTAL Mortgage Scorecard: (i) Mortgagees and vendors must certify to...

24 CFR 241.1030 - Mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premiums. 241... Loans-Eligibility Requirements § 241.1030 Mortgage insurance premiums. The lender, upon endorsement of the note, shall pay the Commissioner a first mortgage insurance premium equal to 0.5 percent of the...

76 FR 26549 - Removal of Certain References to Credit Ratings Under the Securities Exchange Act of 1934

Science.gov (United States)

2011-05-06

... related security'' and ``small business related security,'' respectively, as the Commission considers how... terms ``mortgage related security'' and ``small business related security,'' respectively, as the...),\\9\\ which defines the term ``small business related security.'' In place of the credit rating...

24 CFR 203.32 - Mortgage lien.

Science.gov (United States)

2010-04-01

... obligations contracted in connection with the mortgage transaction or the purchase of the mortgaged property, except obligations that are secured by property or collateral owned by the mortgagor independently of the...

Herding Behavior and Rating Convergence among Credit Rating Agencies : Evidence from the Subprime Crisis

NARCIS (Netherlands)

Lugo, Stefano; Croce, Annalisa; Faff, Robert

2015-01-01

This article examines how credit rating agencies (CRAs) react to rating decisions on mortgage-backed securities by rival agencies in the aftermath of the subprime crisis. While Fitch is on average the first mover, Moody’s and S&P perform more timely downgrades given a downgrade or a more severe

24 CFR 266.415 - Mortgage lien and other obligations.

Science.gov (United States)

2010-04-01

... determine, that all contractual obligations in connection with the mortgage transaction, including the... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage lien and other obligations... Mortgage and Closing Requirements; HUD Endorsement § 266.415 Mortgage lien and other obligations. (a) Liens...

24 CFR 266.602 - Mortgage insurance premium: Insured advances.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Insured... Contract Rights and Obligations Mortgage Insurance Premiums § 266.602 Mortgage insurance premium: Insured.... On each anniversary of the initial closing, the HFA shall pay an interim mortgage insurance premium...

Residential Mortgage Market in Economic and Social Development of Ukraine

Directory of Open Access Journals (Sweden)

Onysko Stefaniia M.

2014-02-01

Full Text Available The article studies tendencies of development of the residential mortgage market in Ukraine in the post-crisis period 2009 – 2012, identifies main tendencies of development of the Ukrainian mortgage market and conducts analysis of the level of mortgage interest rates. The article analyses the modern state of the mortgage market of Ukraine, dynamics of volumes of mortgage loans, their cost, structure of banks as mortgage creditors and cost of housing in Ukraine in the studied period. The article makes a number of offers on efficiency of mortgage, offers directions of financial support of rehabilitation of the market for solving housing problems of the population and identifies importance of state support of mortgage development.

24 CFR 266.604 - Mortgage insurance premium: Other requirements.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Other... Contract Rights and Obligations Mortgage Insurance Premiums § 266.604 Mortgage insurance premium: Other..., based upon the respective share of risk, that is to be used in calculating mortgage insurance premiums...

Pricing Shared Appreciation Mortgages

OpenAIRE

Zhong, Yina

2006-01-01

This paper develops a model for the valuation of shared appreciation mortgage (SAM) and examines the effect of reduction in interest rate on the mortgage duration and share of property appreciation lender charges. The recent rise in SAM availability, as a result of some secondary market financial support and prerequisite standardization, motivates a more careful consideration of the underlying SAM value. The primary difference between the SAM model and the model for general traditional mor...

77 FR 26698 - Allocation of Mortgage Insurance Premiums

Science.gov (United States)

2012-05-07

... Allocation of Mortgage Insurance Premiums AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final... explain how to allocate prepaid qualified mortgage insurance premiums to determine the amount of the... Act of 2010. The regulations affect taxpayers who pay prepaid qualified mortgage insurance premiums...

Green mortgages in the Netherlands

International Nuclear Information System (INIS)

Bosch, N.

1997-01-01

Since November 1996 sustainable building of houses is also part of the fiscal Regulation for Green Projects (i.e. the stimulation of environment-friendly investments). The extension of that financial regulation resulted in a new product: Green Mortgages. The conditions that have to be met to be qualified for a Green Mortgage are briefly outlined

Optimal Mortgage Refinancing: A Closed Form Solution.

Science.gov (United States)

Agarwal, Sumit; Driscoll, John C; Laibson, David I

2013-06-01

We derive the first closed-form optimal refinancing rule: Refinance when the current mortgage interest rate falls below the original rate by at least [Formula: see text] In this formula W (.) is the Lambert W -function, [Formula: see text] ρ is the real discount rate, λ is the expected real rate of exogenous mortgage repayment, σ is the standard deviation of the mortgage rate, κ/M is the ratio of the tax-adjusted refinancing cost and the remaining mortgage value, and τ is the marginal tax rate. This expression is derived by solving a tractable class of refinancing problems. Our quantitative results closely match those reported by researchers using numerical methods.

76 FR 6185 - Registration of Mortgage Loan Originators

Science.gov (United States)

2011-02-03

... UNION ADMINISTRATION Registration of Mortgage Loan Originators AGENCY: Office of the Comptroller of the..., Agency-regulated institutions) who act as a residential mortgage loan originator to register with the... registration system for mortgage loan originators. Specifically, the Act requires: (1) All States to provide...

24 CFR 235.1214 - Mortgage lien.

Science.gov (United States)

2010-04-01

...: Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities-Refinancing... unpaid obligations contracted in connection with the mortgage transaction or the purchase of the mortgaged property, except obligations that are secured by property or collateral owned by the mortgagor...

24 CFR 221.256 - Interest rate increase and payment of mortgage insurance premiums on mortgages under § 221.60 and...

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Interest rate increase and payment... Interest rate increase and payment of mortgage insurance premiums on mortgages under § 221.60 and § 221.65... continuation of a below market interest rate, interest on such mortgage shall be computed by the mortgagee at...

7 CFR 1718.52 - Existing mortgages.

Science.gov (United States)

2010-01-01

... 7 Agriculture 11 2010-01-01 2010-01-01 false Existing mortgages. 1718.52 Section 1718.52 Agriculture Regulations of the Department of Agriculture (Continued) RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE LOAN SECURITY DOCUMENTS FOR ELECTRIC BORROWERS Mortgage for Distribution Borrowers § 1718.52...

Experienced discrimination in home mortgage lending

DEFF Research Database (Denmark)

Secchi, Davide; Seri, Raffaello

2017-01-01

This article proposes a framework for the analysis of experienced discrimination in home mortgages. It addresses the problem of home mortgage lending discrimination in one of the richest areas of northern Italy. Employees of a local hospital were interviewed to study their perception (or experien...

Commercial mortgages: An underutilized channel for scaling energy efficiency investments?

Energy Technology Data Exchange (ETDEWEB)

Mathew, Paul; Wallace, Nancy; Alschuler, Elena; Kolstad, Leonard

2016-02-01

Commercial mortgages currently do not fully account for energy factors in underwriting and valuation, particularly as it relates to the impact of energy costs and volatility on an owner’s net operating income. As a consequence, energy efficiency is not properly valued and energy risks are not properly assessed and mitigated. Commercial mortgages are a large lever and could be a significant channel for scaling energy efficiency investments. A pilot analysis of loans with different mortgage contract structures and locations showed that when energy cost volatility was included in mortgage valuation, a 20% reduction in energy use resulted in a 1.3% average increase in mortgage value. This suggests that the explicit inclusion of energy use and volatility in mortgage valuation can send a strong price signal that financially rewards and values energy efficiency in commercial properties. This paper presents findings from a scoping study addressing energy factors in commercial mortgages. First, we present a review of current practices as it relates to incorporating energy factors into commercial mortgage underwriting and valuation. Next, we detail the impacts of energy factors on property values, net operating income and mortgage valuation. Building operational practices alone can result in energy use variations from -17% to 87%. Finally, we present a set of proposed interventions to properly address energy factors in commercial mortgages, based on extensive discussions with stakeholders including mortgage originators, underwriters, building owners and regulators.

76 FR 68257 - Letters of Interest for Credit Assistance Under the Transportation Infrastructure Finance and...

Science.gov (United States)

2011-11-03

...The DOT's TIFIA Joint Program Office (JPO) announces the availability of a limited amount of funding in Fiscal Year (FY) 2012 to provide credit assistance. Under TIFIA, the DOT provides secured (direct) loans, lines of credit, and loan guarantees to public and private applicants for eligible surface transportation projects of regional or national significance. Projects must meet statutorily specified criteria to be selected for credit assistance. Because demand for the TIFIA program exceeds budgetary resources, the DOT is utilizing periodic fixed-date solicitations. This notice outlines the process that project sponsors must follow to compete to secure an invitation for Federal credit assistance for Federal FY 2012.

78 FR 70856 - Information Reporting of Mortgage Insurance Premiums

Science.gov (United States)

2013-11-27

... Information Reporting of Mortgage Insurance Premiums AGENCY: Internal Revenue Service (IRS), Treasury. ACTION... regulations that require information reporting by persons who receive mortgage insurance premiums, including... reporting requirements that result from the extension of the treatment of mortgage insurance premiums made...

Analysis of increasing trend of mortgage volume in the Czech Republic

Directory of Open Access Journals (Sweden)

Petra Střelcová

2009-01-01

Full Text Available The aim of this paper is an empirical analysis of mortgage volume in the Czech Republic and factors identification of the increasing trend of the mortgage volume in the period from 2001 to 2007. Firstly, analysis of quarterly time series of mortgage volume and average mortgage rate are performed. Consequently, causality between mortgage volume and average mortgage rate is analysed. The morgage rate is the most important factor for economic subjects decision of residential investment. Afterwards, it is analysed causality between mortgage volume and selected factors via multiple regression analysis. Based on this analysis, influencing factors for multiple regression analysis describing mortgage volume are selected. Our empirical analysis validate the causality between mortgage volume and mortgage rate, unemployment rate and price level of real estates. Part of this paper is also economic eduction of causality and estimation of expect progress of mortgage volume especially in connection with present economic and business recession.

Common Problems of Mortgage Banking Development in Poland

Directory of Open Access Journals (Sweden)

Anna Szelągowska

2007-03-01

Full Text Available In many countries the mortgage banking plays a basic role in the housing funding. The Polish model of the housing funding in large measure grounded on banking loans. However, more than 95% of mortgage loans come from universal banks. Mortgage banks, which have existed in the Polish economy for 10 years still play a small role in housing funding.

Optimal Mortgage Refinancing: A Closed Form Solution

Science.gov (United States)

Agarwal, Sumit; Driscoll, John C.; Laibson, David I.

2013-01-01

We derive the first closed-form optimal refinancing rule: Refinance when the current mortgage interest rate falls below the original rate by at least 1ψ[ϕ+W(−exp(−ϕ))]. In this formula W(.) is the Lambert W-function, ψ=2(ρ+λ)σ,ϕ=1+ψ(ρ+λ)κ∕M(1−τ), ρ is the real discount rate, λ is the expected real rate of exogenous mortgage repayment, σ is the standard deviation of the mortgage rate, κ/M is the ratio of the tax-adjusted refinancing cost and the remaining mortgage value, and τ is the marginal tax rate. This expression is derived by solving a tractable class of refinancing problems. Our quantitative results closely match those reported by researchers using numerical methods. PMID:25843977

Losses on Dutch residential mortgage insurances

NARCIS (Netherlands)

Francke, M.K.; Schilder, F.P.W.

2014-01-01

Purpose - This paper aims to study the data on losses on mortgage insurance in the Dutch housing market to find the key drivers of the probability of loss. In 2013, 25 per cent of all Dutch homeowners were "under water": selling the property will not cover the outstanding mortgage debt. The

24 CFR 266.410 - Mortgage provisions.

Science.gov (United States)

2010-04-01

... HOUSING FINANCE AGENCY RISK-SHARING PROGRAM FOR INSURED AFFORDABLE MULTIFAMILY PROJECT LOANS Mortgage and... than the purpose intended on the day the mortgage was executed. The conversion of a project from rental... requirements apply as long as the HFA retains an interest in the project and final claim settlement has not...

Determinants of primary market spreads on U.K. RMBS and it’s implications for investor reliance on credit ratings

NARCIS (Netherlands)

Fabozzi, F.; Vink, D.

2012-01-01

We provide empirical evidence about the credit factors that affect the pricing of newly issued residential mortgage-backed securities (RMBS) in the U.K. Our findings add an important element to the current debate by regulators throughout the world regarding whether investors rely exclusively on

Secondary Market Products in the Mortgage System and Global Practices

Directory of Open Access Journals (Sweden)

Erhan Eroğlu

2010-12-01

Full Text Available In general terms, the mortgage market has two faces, the primary and the secondary markets. The primary market covers housing mortgage loans. On the other side of the mechanism, these loans are securitized and issued in financial markets with different form of securities in secondary markets. The common name of these instruments is “mortgage backed securities - MBS”. A mortgage backed security is a financial instrument issued in capital markets for investors, derived from either backed by the cash flow of the housing loan repayments (which is called pay-through or backed by directly selling the mortgage pools to the MBS issuers (which is called passthrough. The most trading secondary mortgage market instruments and world practices are explained in this article.

IMPACT OF THE GLOBAL FINANCIAL CRISIS ON THE CREDIT RISK MANAGEMENT IN A BANK

Directory of Open Access Journals (Sweden)

Jerzy Piotr Gwizdała

2016-06-01

Full Text Available The main purpose of this article is to present the role of risk in the activity of a commercial bank with particular reference to the global financial crisis. The introductory part presents the origins of economic crises, especially the contemporary crisis from 2007-2010, which began in the United States subprime mortgage market. Dating back to the 1831, considerations allow to undetstand the causes of the crises. Then the impact of the global financial crisis on the scale of the crediting activities of banks in Poland was analyzed, presenting a credit portfolio structure, with a particular focus on the structure of loans to households and enterprises. In the second part of the article the process of credit risk management was discussed, paying attention to the crucial role of the bank's credit policy, and the conditions and prospects of commercial bank credit activity development were specified. It presents also the criteria for the proper credit management, indicating as the optimal solution the development of the so-called „credit textbook”.

31 CFR 337.13 - Payment of mortgage insurance premiums.

Science.gov (United States)

2010-07-01

... insurance premiums. When book-entry debentures are being purchased prior to maturity to pay for mortgage insurance premiums, the difference between the amount of the debentures purchased and the mortgage insurance... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Payment of mortgage insurance...

78 FR 10367 - Appraisals for Higher-Priced Mortgage Loans

Science.gov (United States)

2013-02-13

... the current sale. A creditor of a ``higher-risk mortgage'' must also: Provide the applicant, at the... addition, the final rule implements the Act's requirement that the creditor of a ``higher-risk mortgage... provision requiring appraisals for ``higher-risk mortgages'' that was added to TILA by the Dodd-Frank Wall...

Financial Literacy and the Use of Interest-Only Mortgages

Science.gov (United States)

Seay, Martin C.; Preece, Gloria L.; Le, Vincent C.

2017-01-01

This study explored the relationship between financial literacy and the use of interest-only mortgages using data from the 2009 National Financial Capability Study (NFCS). A series of analyses were conducted to investigate characteristics associated with the use of an interest-only mortgage as a primary mortgage, as compared to fixed-rate mortgage…

Ten myths about subprime mortgages

OpenAIRE

Yuliya Demyanyk

2009-01-01

On close inspection many of the most popular explanations for the subprime crisis turn out to be myths. Empirical research shows that the causes of the subprime mortgage crisis and its magnitude were more complicated than mortgage interest rate resets, declining underwriting standards, or declining home values. Nor were its causes unlike other crises of the past. The subprime crisis was building for years before showing any signs and was fed by lending, securitization, leveraging, and housing...

Mortgage risks, debt literacy and financial advice

NARCIS (Netherlands)

van Ooijen, Raun; van Rooij, Maarten C.J.

2016-01-01

A limited understanding of mortgage contracts and the risks involved may have contributed to the outbreak of the 2007–2008 financial crisis. We developed a special questionnaire relating mortgage loan decisions to financial knowledge and financial advice. Our results demonstrate that homeowners

A New Paradigm in Mortgage Loan Advice

DEFF Research Database (Denmark)

Otterstedt, Margrét Sesselja; Rasmussen, Kourosh Marjani; Kulahci, Murat

2013-01-01

The Danish mortgage market has undergone considerable changes during the last 15 years. New and more complex variations of loan products have been introduced. Nevertheless, mortgage loan advice has remained, by large, unchanged. This paper addresses a study where a number of new refinancing rules...

17 CFR 210.12-29 - Mortgage loans on real estate. 1

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Mortgage loans on real estate... § 210.12-29 Mortgage loans on real estate. 1 [For Certain Real Estate Companies] Column A—Description 2... amount of the extended mortgages, explain. 7 If any item of mortgage loans on real estate investments has...

Obstacles to the Mortgage Financing of Forest Rights and its Countermeasures

Institute of Scientific and Technical Information of China (English)

2011-01-01

Current status of the mortgage financing of forest rights is introduced.Significance of the development of mortgage financing of rural forest rights is analyzed,indicating that the mortgage financing of rural forest rights is an inevitable trend of rural reform development,Mortgage financing of forest rights in rural China is an effective vector for the farmers’ income increase project with financial support,explores the great potential of forest resources,promotes the coordinated development of forestry and financial services.Major obstacles for the mortgage financing of forest rights at present is pointed out,which are the high assessment fees,the complex mortgage valuation,the unsound element market of forestry,and the lack of risk protection mechanism.Countermeasures for the development of mortgage financing of forest rights is out forward.For instance,both government and Forestry Bureau should strengthen the circulation services,establish smooth evaluation mechanism,establish companies for rural assets platform,increase the interest subsidies for forest right mortgage and the risk compensation,strengthen the team construction and improve the service system.

Home-mortgage lending trends in New England in 2010

OpenAIRE

Ana Patricia Muñoz

2012-01-01

This brief analysis of home-mortgage lending trends in New England is based on data collected under the Home Mortgage Disclosure Act (HMDA). HMDA provides information on mortgage lending trends and includes data by loan purpose, type of loan, income, and the race and ethnicity of borrowers. In this report we focus on home-purchase and refinance loans in New England.

24 CFR 266.600 - Mortgage insurance premium: Insurance upon completion.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium... MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.600 Mortgage insurance premium: Insurance upon completion. (a) Initial premium. For projects insured upon completion, on...

9 CFR 55.6 - Mortgage against animals.

Science.gov (United States)

2010-01-01

... 9 Animals and Animal Products 1 2010-01-01 2010-01-01 false Mortgage against animals. 55.6 Section 55.6 Animals and Animal Products ANIMAL AND PLANT HEALTH INSPECTION SERVICE, DEPARTMENT OF... DISEASE Chronic Wasting Disease Indemnification Program § 55.6 Mortgage against animals. When cervids have...

24 CFR 3500.21 - Mortgage servicing transfers.

Science.gov (United States)

2010-04-01

... servicer means a servicer, including a table funding mortgage broker or dealer on a first lien dealer loan..., mortgage broker who anticipates using table funding, or dealer who anticipates a first lien dealer loan... applicants, and material in square brackets is optional or alternative language. The model format may be...

24 CFR 266.606 - Mortgage insurance premium: Duration and method of paying.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium... AFFORDABLE MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.606 Mortgage insurance premium: Duration and method of paying. (a) Duration of payments. Mortgage insurance...

49 CFR 536.8 - Conditions for trading of credits.

Science.gov (United States)

2010-10-01

... 49 Transportation 6 2010-10-01 2010-10-01 false Conditions for trading of credits. 536.8 Section... SAFETY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION TRANSFER AND TRADING OF FUEL ECONOMY CREDITS § 536.8 Conditions for trading of credits. (a) Trading of credits. If a credit holder wishes to trade credits to...

24 CFR 203.420 - Nature of Mutual Mortgage Insurance Fund.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Nature of Mutual Mortgage Insurance Fund. 203.420 Section 203.420 Housing and Urban Development Regulations Relating to Housing and Urban... and Distributive Shares § 203.420 Nature of Mutual Mortgage Insurance Fund. The Mutual Mortgage...

24 CFR 266.608 - Mortgage insurance premium: Pro rata refund.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Pro... PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.608 Mortgage insurance premium: Pro rata refund. If the Contract of Insurance is terminated by payment in full or is terminated...

Prepayment risk, impact on credit products

Directory of Open Access Journals (Sweden)

Dan Costin NIŢESCU

2012-08-01

Full Text Available Credit pricing is always an important aspect of operations of banks, as loans are generally two thirds of bank assets. Therefore, the study of factors influencing a bank customer behavior and their impact on early repayment of loans may have a significant influence in reducing the risk assumed by such unexpected operations.Objective analysis of prepayment risk is to estimate the probability of repayment to better manage its manifestation. The existence of potential customers that use this option exposes the bank to a number of risks, such as interest rate risk, the maturity mismatch risk and liquidity risk.Proper evaluation and forecasting the evolution of this risk can bring great benefits for a credit institution in the management of loan products and customer relationship: lower risk of over-ensure against fixed rate mortgage, a better management of short-term and long term liquidity needs (thus reducing the risk of over-financing can offer customers more competitive pricing (achieved by reducing funding costs due to better assessment and management of risks involved early repayment.

SHORT-TERM FORECASTING OF MORTGAGE LENDING

Directory of Open Access Journals (Sweden)

Irina V. Orlova

2013-01-01

Full Text Available The article considers the methodological and algorithmic problems arising in modeling and forecasting of time series of mortgage loans. Focuses on the processes of formation of the levels of time series of mortgage loans and the problem of choice and identification of models in the conditions of small samples. For forecasting options are selected and implemented a model of autoregressive and moving average, which allowed to obtain reliable forecasts.

7 CFR 1718.54 - Availability of model mortgage.

Science.gov (United States)

2010-01-01

... 7 Agriculture 11 2010-01-01 2010-01-01 false Availability of model mortgage. 1718.54 Section 1718.54 Agriculture Regulations of the Department of Agriculture (Continued) RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE LOAN SECURITY DOCUMENTS FOR ELECTRIC BORROWERS Mortgage for Distribution Borrowers...

26 CFR 1.6050H-3T - Information reporting of mortgage insurance premiums (temporary).

Science.gov (United States)

2010-04-01

... Information reporting of mortgage insurance premiums (temporary). (a) Information reporting requirements. Any... section applies to the receipt of all payments of mortgage insurance premiums, by cash or financing... premiums is determined on a mortgage-by-mortgage basis. A recipient need not aggregate mortgage insurance...

Subprime cities: the political economy of mortgage markets

NARCIS (Netherlands)

Aalbers, M.B.

2012-01-01

The study of mortgage markets has traditionally been the domain of economists. During historic times of turmoil and change, however, social scientists of various stripes are often called upon to shape our understanding of ways mortgage markets function. We are presently experiencing an episode of

77 FR 39222 - Consumer Use of Reverse Mortgages

Science.gov (United States)

2012-07-02

... influence reverse mortgage consumers' decision-making, consumers' use of reverse mortgage loan proceeds.... Sensitive personal information such as account numbers or Social Security numbers should not be included... personal information that could be used to identify an individual consumer or account, nor should they...

49 CFR 536.4 - Credits.

Science.gov (United States)

2010-10-01

... OF TRANSPORTATION TRANSFER AND TRADING OF FUEL ECONOMY CREDITS § 536.4 Credits. (a) Type and vintage... category, and model year of origin (vintage). (b) Application of credits. All credits earned and applied are calculated, per 49 U.S.C. 32903(c), in tenths of a mile per gallon by which the average fuel...

Path innovation of rural property mortgage financing in China

Directory of Open Access Journals (Sweden)

Wu Yongchao

2016-01-01

Full Text Available Rural property mortgage financing, as an important breakthrough to deepen the reform of rural property right system and financial system, is an important approach to increase the farmers’ property income. Besides, rural property mortgage financing is of great significance in implementing the rural land usufructuary right and meeting the demand of medium-and-long-term and large-scale operation of the funds used in agricultural production. Under the existing institutional arrangement, the property mortgage financing in the rural areas of our country still is faced with many obstacles, and it is still at the stage of low level development. In this paper, closely based on the acceptability and the difficulty in the mortgaged property involving in legal disposal, the author puts forward important methods: clearly define the ownership, unify the urban and rural markets, increase the participation enthusiasm of financing bodies, and improve the supporting policies to promote property mortgage financing in rural area. Finally, the government should give farmers more property rights and revitalize the usufructuary right of agricultural land and its derivative right.

Reverse Mortgage Participation in the United States: Evidence from a National Study

Directory of Open Access Journals (Sweden)

Swarn Chatterjee

2016-03-01

Full Text Available This paper uses the most recent wave of a nationally representative dataset to examine the factors associated with elderly homeowners’ decision to obtain reverse mortgage loans. The findings of this study suggest that very few homeowners participated in the reverse mortgage market, and homeowners younger than 67 were less likely to have reverse mortgage loans. However, homeowners who were risk averse, and homeowners in the two highest quartiles of net worth were more likely to have reverse mortgage loans. Further analyses reveal that among the reverse mortgage participants, homeowners with long-term care insurance coverage were less likely to have reverse mortgage loans. Implications for financial economists, financial planners, policy-makers, and scholars of retirement economics are included.

24 CFR 203.260 - Amount of mortgage insurance premium (periodic MIP).

Science.gov (United States)

2010-04-01

... Mortgage Insurance Premiums-Periodic Payment § 203.260 Amount of mortgage insurance premium (periodic MIP... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Amount of mortgage insurance premium (periodic MIP). 203.260 Section 203.260 Housing and Urban Development Regulations Relating to...

Regulatory status of burnup credit for dry storage and transport of spent nuclear fuel in the United States

International Nuclear Information System (INIS)

Carlson, D.E.

2001-01-01

During 1999, the Spent Fuel Project Office of the U.S. Nuclear Regulatory Commission (NRC) introduced technical guidance for allowing burnup credit in the criticality safety analysis of casks for transporting or storing spent fuel from pressurized water reactors. This paper presents the recommendations embodied by the current NRC guidance, discusses associated technical issues, and reviews information needs and industry priorities for expanding the scope and content of the guidance. Allowable analysis approaches for burnup credit must account for the fuel irradiation variables that affect spent fuel reactivity, including the axial and horizontal variation of burnup within fuel assemblies. Consistent with international transport regulations, the burnup of each fuel assembly must be verified by pre-loading measurements. The current guidance limits the credited burnup to no more than 40 GWd/MTU and the credited cooling time to five years, imposes a burnup offset for fuels with initial enrichments between 4 and 5 wt% 235U, does not include credit for fission products, and excludes burnup credit for damaged fuels and fuels that have used burnable absorbers. Burnup credit outside these limits may be considered when adequately supported by technical information beyond that reviewed to-date by the NRC staff. The guidance further recommends that residual subcritical margins from the neglect of fission products, and any other nuclides not credited in the licensing-basis analysis, be estimated for each cask design and compared against estimates of the maximum reactivity effects associated with remaining computational uncertainties and potentially nonconservative modeling assumptions. The NRC's Office of Nuclear Regulatory Research is conducting a research program to help develop the technical information needed for refining and expanding the evolving guidance. Cask vendors have announced plans to submit the first NRC license applications for burnup credit later this year

Mortgage development in Serbia, specialty in Serbian Civil Code from 1844. year

Directory of Open Access Journals (Sweden)

Popov Danica

2012-01-01

Full Text Available The history of Serbian mortgage law is not too long. The mortgage law began in first half of XIX century. The first Act about mortgage was The Intabulation Law from 1839. year. Mortgage is a right of lien on an immovable which authorizes the creditor to seek satisfaction of his claim for the value of such immovable before of other creditors that do not have mortgage on it, as well as before creditors who have acquired mortgage on such immovable subsequent on him, irrespective of a contingent change of owner of the encumbered immovable. The mortgage was based on some rules. The mortgage is accessory rights. One of the basic features of a security right is its dependence on the claim. The mortgage creditor is entitled to request satisfaction of the claim from the value of immovable encumbered by mortgage, regardless of whether it is still in possession of the mortgage debitor or it has been convened into ownership of a third party. This The Intabulation Law is changed twice. For the first time in 1842 year, and second time in 1853. year. The lack of both changes was missing the principle of speciality. Principle of speciality marks the fact that a guarantee (security, may secure only a definite claim of one creditor and that the guarantee may exist only on a definite set of objects (assets. On one hand speciality of real security interest forbids securing an indefinite number of claims or an indefinite amount of claim, and, on the other, forbids the prospect of indefinite assets, or all assets of the debitor be subject of to such a security interest. This lack are eliminate in the new Intabulation Law from 1854. year, which was incorporated into Serbian Civil Code from 1844. year. The subject of this article is The Intabulation Law from 1854. year.

Taking burnup credit for interim storage and transportation system for BWR fuels

International Nuclear Information System (INIS)

Yoshioka, Ken-ichi; Ando, Y.; Kumanomido, H.; Sasaki, T.; Mitsuhashi, I.; Ueda, M.

2001-01-01

In order to establish a realistic burnup credit design system, a calculation system has been developed for determining isotope compositions, burnup, and criticality. The calculation system consists of several modules such as TGBLA, ORIGEN, CITATION, MCNP, and KENO. The TGBLA code is a fuel design code for LWR fuels developed in TOSHIBA Corporation. A compact measurement system for a fuel assembly has been being developed to meet requirements for the burnup determination, the neutron emission-rate evaluation, and the nuclear materials management. For a spent MOX fuel, a neutron emission rate measurement method has been being developed. The system consists of Cd-Te detectors and / or fission chambers. Some model calculations were carried out for the latest design BWR fuels. The effect of taking burnup credit for a transportation cask is shown. (authors)

Oversizing of the subprime mortgage market as the main cause of its fall

Directory of Open Access Journals (Sweden)

Živkov Dejan

2012-01-01

Full Text Available The U.S. subprime mortgage crisis was one of the first indicators of the great financial crisis that escalated in late 2008. The law deregulation and human greed are considered to be the main causes of the crisis. However, some recent analyses have shown one more cause of the mortgage crisis, that seems to be crucial - oversizing of the subprime mortgage market. Due to the fact that the subprime mortgage market depends on the prime mortgage market, in an attempt to provide its stability and sustainable growth, some kind of the ratio between the number of subprime and the prime mortgages must have been taken into the consideration.

The National Housing Fund, Mortgage Finance and Capital Formation in Nigeria

Directory of Open Access Journals (Sweden)

ADETILOYE Kehinde Adekunle

2013-07-01

Full Text Available Mortgage financing is one of the ways by which housing stocks are added and capital formation takes place in an economy. This paper examined the impact of the National Housing Fund (NHF, a government agency, in the process of capital formation in Nigeria. The paper adopted some key variables among which are capital formation, lending rate and capital expenditure and the various aspects of mortgage loans in the economy. The paper employed the Two Stage Least Square (2SLS techniques to measure the impact of the various units. It discovers that the mortgage loan generally is significant and insurance companies advances for mortgage is also significant while the National Housing Fund (NHF is not significant. This is however due to many problems bedevilling the Fund. The paper recommends among others, the deepening of the mortgage finance market, further assistance to the help to the National Housing Fund and while the government incentivises the firms involved in lending on mortgage fiscally to improve performance and capital stocks in the economy.

‘Mortgaged lives’: the biopolitics of debt and housing financialisation

OpenAIRE

Garcia Lamarca, Melissa; Kaika, Maria

2016-01-01

The paper expands the conceptual framework within which we examine mortgage debt by reconceptualising mortgages as a biotechnology: a technology of power over life that forges an intimate relationship between global financial markets, everyday life and human labour. Taking seriously the materiality of mortgage contracts as a means of forging new embodied practices of financialisation, we urge for the need to move beyond a policy? and macroeconomics?based analysis of housing financialisation. ...

49 CFR 260.13 - Credit reform.

Science.gov (United States)

2010-10-01

... appropriations, direct payment of a Credit Risk Premium by the Applicant or a non-Federal infrastructure partner... 49 Transportation 4 2010-10-01 2010-10-01 false Credit reform. 260.13 Section 260.13... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.13 Credit reform. The Federal Credit Reform Act...

Denmark; Systemic Issues in Mortgage Loans and Covered Bond Finance: Technical Note

OpenAIRE

International Monetary Fund

2014-01-01

This technical note analyzes systemic issues in mortgage loans and covered bond finance in Denmark. Mortgage lending has seen significant product innovation in recent years. Loans with adjustable interest rates and/or interest-only periods, which have been introduced since the late 1990s, had grown to 75 percent and 53 percent, respectively, of total outstanding mortgage loans at the end of 2013. The major changes in the characteristics of the underlying mortgage loans have naturally been ref...

Analysis of Tax-deductible Interest Payments for Re-advanceable Canadian Mortgages

Science.gov (United States)

Naseem, Almas; Reesor, Mark

2011-11-01

According to Canadian tax law the interest on loans used for investment purposes is tax deductible while interest on personal mortgage loans is not. One way of transforming from non-tax deductible to tax deductible interest expenses is to borrow against home equity to make investments. A re-advanceable mortgage is a product specifically designed to take advantage of this tax discrepancy. Using simulation we study the risk associated with the re-advanceable mortgage strategy to provide a better description of the mortgagor's position. We assume that the mortgagor invests the borrowings secured by home equity into a single risky asset (e.g., stock or mutual fund) whose evolution is described by geometric Brownian motion (GBM). With a re-advanceable mortgage we find that the average mortgage payoff time is less than the original mortgage term. However, there is considerable variation in the payoff times with a significant probability of a payoff time exceeding the original mortgage term. Higher income homeowners enjoy a payoff time distribution with both a lower average and a lower standard deviation than low-income homeowners. Thus this strategy is most beneficial to those with the highest income. We also find this strategy protects the homeowner in the event of job loss. This work is important to lenders, financial planners and homeowners to more fully understand the benefits and risk associated with this strategy.

Higher Bank Capital Requirements and Mortgage Pricing: Evidence from the Countercyclical Capital Buffer (CCB)

OpenAIRE

Basten, Christhoph; Koch, Cathérine

2015-01-01

How has the CCB affected mortgage pricing after Switzerland became the first country to activate this Basel III macroprudential tool? By analyzing a database with several offers per mortgage request, we construct a picture of mortgage supply and demand. We find, first, that the CCB changes the composition of mortgage supply, as relatively capital-constrained and mortgage-specialized banks raise prices more than their competitors do. Second, risk-weighting schemes linked to borrower risk do no...

31 CFR 337.8 - Payment of mortgage insurance premiums.

Science.gov (United States)

2010-07-01

... insurance premiums. When certificated debentures are tendered for purchase prior to maturity in order that the proceeds thereof be applied to pay for mortgage insurance premiums, any difference between the amount of the debentures purchased and the amount of the mortgage insurance premium will generally be...

9 CFR 53.9 - Mortgage against animals or materials.

Science.gov (United States)

2010-01-01

... 9 Animals and Animal Products 1 2010-01-01 2010-01-01 false Mortgage against animals or materials. 53.9 Section 53.9 Animals and Animal Products ANIMAL AND PLANT HEALTH INSPECTION SERVICE, DEPARTMENT....9 Mortgage against animals or materials. When animals or materials have been destroyed pursuant to...

Mortgage lenders and loans

NARCIS (Netherlands)

Aalbers, M.B.; Smith, S.J.

2012-01-01

This article presents a short historical overview of the different types of lenders that are active in the origination of residential mortgage loans. First, a distinction is made between depository and nondepository lenders. Second, there are two major types of depository lenders: commercial banks,

Burnup credit activities being conducted in the United States

International Nuclear Information System (INIS)

Lake, W.

1998-01-01

The paper describes burnup credit activities being conducted in the U.S. where burnup credit is either being used or being planned to be used for storage, transport, and disposal of spent nuclear fuel. Currently approved uses of burnup credit are for wet storage of PWR fuel. For dry storage of spent PWR fuel, burnup credit is used to supplement a principle of moderator exclusion. These storage applications have been pursued by the private sector. The Department of Energy (DOE) which is an organization of the U.S. Federal government is seeking approval for burnup credit for transport and disposal applications. For transport of spent fuel, regulatory review of an actinide-only PWR burnup credit method is now being conducted. A request by DOE for regulatory review of actinide and fission product burnup credit for disposal of spent BWR and PWR fuel is scheduled to occur in 1998. (author)

77 FR 23273 - Proposed Information Collection; Comment Request: Home Equity Conversion Mortgage Counseling...

Science.gov (United States)

2012-04-18

... Collection; Comment Request: Home Equity Conversion Mortgage Counseling Client Survey AGENCY: Office of the... information: Title of Proposal: Home Equity Conversion Mortgage Counseling Client Survey. OMB Control Number... reverse mortgage counseling. As part of HUD's evaluation of its HECM counseling program, performance...

Prepayment and the Valuation of Danish Mortgage-Backed Bonds

DEFF Research Database (Denmark)

Jakobsen, Svend

Ph.D. thesis on prepayment modelling and valuation of Danish mortgage backed bonds. The thesis discusses several aspects of mortgage backed bonds including after-tax valuation, the special Danish delivery option, rational prepayment behavior, transaction costs and heterogenous borrowers. The thes...... concludes with an empirical analysis of pricing and holding period returns...

9 CFR 56.7 - Mortgage against poultry or eggs.

Science.gov (United States)

2010-01-01

... 9 Animals and Animal Products 1 2010-01-01 2010-01-01 false Mortgage against poultry or eggs. 56.7... AGRICULTURE COOPERATIVE CONTROL AND ERADICATION OF LIVESTOCK OR POULTRY DISEASES CONTROL OF H5/H7 LOW PATHOGENIC AVIAN INFLUENZA § 56.7 Mortgage against poultry or eggs. When poultry or eggs have been destroyed...

Transforming the Mortgage System and Challenging the Zombie Economy

DEFF Research Database (Denmark)

Wood, James

2017-01-01

By developing stable mortgage finance institutions that do not require government bailouts we can break the “doom loop” between the financial sector and the British state.......By developing stable mortgage finance institutions that do not require government bailouts we can break the “doom loop” between the financial sector and the British state....

Maximizing Home Equity or Preventing Home Loss: Reverse Mortgage Decision Making and Racial Inequality.

Science.gov (United States)

Keene, Danya E; Sarnak, Ann; Coyle, Caitlin

2018-03-07

Reverse mortgages are loans that allow older homeowners to borrow from their home equity with no repayment due until the borrower dies or moves out of the home. We currently know very little about how homeowners evaluate and experience reverse mortgages as solutions to their financial and housing needs in later life. Furthermore, despite an increasingly diverse population of reverse mortgage borrowers, we know little about how social inequalities may contribute to reverse mortgage decisions and their outcomes. In this paper, we examine reverse mortgage decision-making and experiences in a racially and economically diverse sample of older US homeowners. We conducted 44 in-depth interviews with older homeowners who were considering or who had obtained a reverse mortgage loan. We inductively and iteratively developed a thematic coding scheme that was applied to all interview transcripts. Our analysis produced a dichotomous schema of reverse mortgage decision making that was shaped by social and economic opportunities and constraints. For some participants, reverse mortgages represented strategic tools used to maximize home equity and its benefits. For others, it was an option of last resort to which participants turned when faced with the imminent loss of their home. Focusing on reverse mortgages, our analysis suggests way that social inequalities may be reproduced through financial decisions and the unequal landscapes of opportunity in which they are made.

Competition in the Dutch mortgage market: notes on concentration, entry, funding, and margins

NARCIS (Netherlands)

Treur, L.; Boonstra, W.W.

2014-01-01

This article describes the institutions that shape the Dutch mortgage market, as well as how they affect mortgage funding, and, ultimately, mortgage interest rates. The Dutch housing market is characterized by a very large social housing sector, as well as a relatively large share of owner-occupied

Effect of loan value and collateral on value of mortgage default

OpenAIRE

Itoo, R. A.; Selvarasu, A.; Filipe, J.

2013-01-01

This study explore the factors influencing mortgage loan default by using the data of mortgage default case from Jammu and Kashmir Bank. To achieve the study objectives sixteen variables are taken. The variables are categorized into three dimensions as borrower’s profile, loan value contents and collateral security. The tools used for analysis of data describing mortgage loan defaulter’s are chi-square, regression, ANOVA, and logistic regression through SPSS 18.0. The results indicate that th...

12 CFR 201.109 - Eligibility for discount of mortgage company notes.

Science.gov (United States)

2010-01-01

... directly affect the production or distribution of goods and services. Mortgage banking, on the other hand... inventory of mortgage loans pending their “packaging” for sale to permanent investors that are usually...

"Cream-skimming" in subprime mortgage securitizations : which subprime mortgage loans were sold by depository institutions prior to the crisis of 2007?

OpenAIRE

Paul S. Calem; Christopher Henderson; Jonathan Liles

2010-01-01

Depository institutions may use information advantages along dimensions not observed or considered by outside parties to "cream-skim," meaning to transfer risk to naive, uninformed, or unconcerned investors through the sale or securitization process. This paper examines whether "cream-skimming" behavior was common practice in the subprime mortgage securitization market prior to its collapse in 2007. Using Home Mortgage Disclosure Act data merged with data on subprime loan delinquency by ZIP c...

Allegheny County Mortgage Foreclosure Records

Data.gov (United States)

Allegheny County / City of Pittsburgh / Western PA Regional Data Center — This data includes filings related to mortgage foreclosure in Allegheny County. The foreclosure process enables a lender to take possession of a property due to an...

Analysis of effects of foreign bank entry on credit interest rate behavior in Serbia

Directory of Open Access Journals (Sweden)

Đukić Đorđe

2007-01-01

Full Text Available Following foreign bank entry, credit interest rates have been extremely high in Serbia compared with a reference group of countries: Croatia, Bulgaria and Romania. This is connected with monetary authorities' poor predictions regarding the behavior of those banks in setting interest rates, creating an illusion that competition, per se, would rapidly result in decreasing interest rates; as well as undertaking monetary policy measures-such as an extreme increase in the reserve requirements rate-that contributed to unchanged or increased credit interest rates. The final outcome of poor predictions and measures undertaken by the National Bank of Serbia is limited to periodical appeals by its highest officials to citizens to consider the conditions under which they borrow from banks. However, under conditions of fully inelastic demand for bank credit and a cartel presence in the banking sector, such appeals are ineffective, merely reflecting an attempt to avoid responsibility for a possible wave of bankruptcies in the household sector. Only increasing competition among banks can lead to a significant decrease in credit interest rates in Serbia in the medium term. Empirical analysis shows that competition should be most intensive on the mortgage loan market.

Energy Factors in Commercial Mortgages: Gaps and Opportunities

Energy Technology Data Exchange (ETDEWEB)

Mathew, Paul [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Coleman, Philip [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Wallace, Nancy [Univ. of California, Berkeley, CA (United States); Issler, Paulo [Univ. of California, Berkeley, CA (United States); Kolstad, Lenny [Inst. for Market Transformation, Washington, DC (United States); Sahadi, Robert [Inst. for Market Transformation, Washington, DC (United States)

2016-09-01

The commercial real estate mortgage market is enormous, with almost half a trillion dollars in deals originated in 2015. Relative to other energy efficiency financing mechanisms, very little attention has been paid to the potential of commercial mortgages as a channel for promoting energy efficiency investments. The valuation and underwriting elements of the business are largely driven by the “net operating income” (NOI) metric – essentially, rents minus expenses. While NOI ostensibly includes all expenses, energy factors are in several ways given short shrift in the underwriting process. This is particularly interesting when juxtaposed upon a not insignificant body of research revealing that there are in fact tangible benefits (such as higher valuations and lower vacancy and default rates) for energy-efficient and “green” commercial buildings. This scoping report characterizes the current status and potential interventions to promote greater inclusion of energy factors in the commercial mortgage process.

76 FR 40741 - Federal Housing Administration (FHA) Mortgage Insurance Premiums for Multifamily Housing Programs...

Science.gov (United States)

2011-07-11

... Administration (FHA) Mortgage Insurance Premiums for Multifamily Housing Programs, Health Care Facilities and... mortgage insurance premiums (MIPs) for FHA Multifamily Housing, Health Care Facilities, and Hospital... mortgage insurance regulation at 24 CFR 207.254 provides as follows: Notice of future premium changes will...

77 FR 21580 - Changes in Certain Multifamily Housing and Health Care Facility Mortgage Insurance Premiums for...

Science.gov (United States)

2012-04-10

... Multifamily Housing and Health Care Facility Mortgage Insurance Premiums for Fiscal Year (FY) 2013 AGENCY...: In accordance with HUD regulations, this notice announces changes of the mortgage insurance premiums... mortgage. The mortgage insurance premiums to be in effect for FHA firm commitments issued or reissued in FY...

Secondary mortgage market (SMM): Is it right for financing housing ...

African Journals Online (AJOL)

It notes that the scale of mortgage origination in the primary market is limited; the adjudication process is slow; collateralization is inadequate; and the land title regime is poor. It suggests that it is appropriate for Ghana to concentrate on solving these basic problems before any attempt at implementing a secondary mortgage ...

24 CFR 213.259a - Premiums-mortgages insured pursuant to section 238(c) of the Act.

Science.gov (United States)

2010-04-01

.... All of the provisions of §§ 213.253 through 213.259 governing mortgage insurance premiums shall apply... mortgage insurance premiums due on such mortgages in accordance with §§ 213.253 through 213.259 shall be... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Premiums-mortgages insured pursuant...

49 CFR 260.15 - Credit risk premium.

Science.gov (United States)

2010-10-01

... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium. 260.15 Section 260.15... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.15 Credit risk premium. (a) Where available... pay to the Administrator a Credit Risk Premium adequate to cover that portion of the subsidy cost not...

Status of burnup credit implementation in Switzerland

International Nuclear Information System (INIS)

Grimm, P.

1998-01-01

Burnup credit is currently not used for the storage of spent fuel in the reactor pools in Switzerland, but credit is taken for integral burnable absorbers. Interest exists to take credit of burnup in future for the storage in a central away-from-reactor facility presently under construction. For spent fuel transports to foreign reprocessing plants the regulations of the receiving countries must be applied in addition to the Swiss licensing criteria. Burnup credit has been applied by one Swiss PWR utility for such transports in a consistent manner with the licensing practice in the receiving countries. Measurements of reactivity worths of small spent fuel samples in a Swiss zero-power research reactor are at an early stage of planning. (author)

24 CFR 266.610 - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 266.610 Section 266.610 Housing and Urban Development Regulations Relating to Housing... MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.610 Method of payment of mortgage insurance premiums. In the cases that the Commissioner deems appropriate, the...

Home Truths: Promises and Challenges in Linking Mortgages and Political Influence

Directory of Open Access Journals (Sweden)

Deniz Igan

2016-11-01

Full Text Available What can “big data” tell us about the dynamics shaping the regulation of and activities in housing and mortgage markets? This paper describes a detailed database of the lobbying activities, campaign contributions, political connections, and mortgage lending activities of the financial industry. A review of the findings of recent research that has utilized this data set suggests that the political influence of the financial industry may have a bearing on the regulation of mortgage markets and, in turn, on risk-taking by lenders. A key challenge is deciphering the motivations behind the politically targeted activities of the financial industry.

77 FR 45411 - Letters of Interest for Credit Assistance Under the Transportation Infrastructure Finance and...

Science.gov (United States)

2012-07-31

...Pursuant to the recently enacted Moving Ahead for Progress in the 21st Century Act (MAP-21), DOT announces the availability of funding authorized in the amount of $1.75 billion ($750 million in Federal Fiscal Year (FY) 2013 funds and $1 billion in FY 2014 funds (and any funds that may be available from prior fiscal years)) to provide TIFIA credit assistance for eligible projects. The FY 2013 and FY 2014 funds are subject to an annual obligation limitation that may be established in appropriations law. The amount of TIFIA budget authority available in a given year may be less than the amount authorized for that fiscal year. Under TIFIA, DOT provides secured (direct) loans, lines of credit, and loan guarantees to public and private applicants for eligible surface transportation projects. Projects must meet statutorily specified eligibility criteria to receive credit assistance. This notice outlines the process that project sponsors must follow in seeking TIFIA credit assistance. DOT is publishing this notice to give project sponsors an opportunity to submit Letters of Interest for the newly authorized funding as soon as possible. However, in addition to authorizing more funding for TIFIA credit assistance, MAP-21 made some significant changes to the TIFIA program's structure, including the terms and conditions pursuant to which DOT can provide TIFIA credit assistance. While this notice provides guidance about how DOT will implement some of the changes made by MAP-21, it does not provide guidance about how DOT will implement all of these changes. Further information about the changes made by MAP-21 and additional DOT guidance for implementation of these provisions is provided in Part VII below. Also, Part VII invites interested parties to submit comments about DOT's implementation of MAP-21 and DOT's guidance for awarding TIFIA credit assistance. Unless otherwise noted, statutory section references in this notice are to sections of title 23 of the U.S. Code, as

Burnup credit calculations for criticality safety justification for RBMK-1000 spent fuel of transport and storage systems

Directory of Open Access Journals (Sweden)

V. V. Galchenko

2010-12-01

Full Text Available In present paper the burnup credit calculations for TK-8 transport container and SVJP-1 spent fuel storage fa-cility of pool type with RBMK-1000 spent fuel during 100-years of cooling time were performed for criticality safety analysis purpose using MCNP and SCALE codes. Only actinides were taken into account for these critical systems. Two approaches were analyzed with isotopes distribution calculations along fuel assembly height and without it. The results show that subcriticality margin is increased considerably using burnup credit and isotopes distribution along fuel assembly height made this value more reasonable.

78 FR 59366 - Multifamily, Healthcare Facilities, and Hospital Mortgage Insurance Premiums for Fiscal Year (FY...

Science.gov (United States)

2013-09-26

... Facilities, and Hospital Mortgage Insurance Premiums for Fiscal Year (FY) 2014 AGENCY: Office of the... with HUD regulations, this Notice announces the mortgage insurance premiums (MIPs) for Federal Housing Administration (FHA) Multifamily, Healthcare Facilities, and Hospital mortgage insurance programs that have...

Dutch mortgage arrears and the role of the global financial crisis

NARCIS (Netherlands)

Teye, A.L.; De Haan, J.; Elsinga, M.

2015-01-01

As in many countries, the Dutch housing market was severely hit by the recent financial crisis. Following the recession, the average house price in the Netherlands fell by almost 25% and the proportion of homeowners with mortgage payment arrears nearly doubled. In this paper, we study mortgage

Financial literacy, risk aversion and choice of mortgage type by households

NARCIS (Netherlands)

Cox, R.; Brounen, Dirk; Neuteboom, P.

2015-01-01

This paper analyzes how financial literacy and reported willingness to take financial risk impact a household’s choice of mortgage type. The results show that households reporting higher financial literacy and lower risk aversion are 55 to 97 % more likely to opt for interest-only mortgages. The

Path innovation of rural property mortgage financing in China

OpenAIRE

Wu Yongchao

2016-01-01

Rural property mortgage financing, as an important breakthrough to deepen the reform of rural property right system and financial system, is an important approach to increase the farmers’ property income. Besides, rural property mortgage financing is of great significance in implementing the rural land usufructuary right and meeting the demand of medium-and-long-term and large-scale operation of the funds used in agricultural production. Under the existing institutional arrangement, the prope...

PSA Duration: Conquering the Prepayment Risk of Mortgage Portfolios

OpenAIRE

Boleslav Gulko

1996-01-01

Money managers have little control over the values of their individual holdings, but they have considerable control over the risk exposure of their portfolios. This article introduces new tools for the risk management of mortgage portfolios. We extend the traditional duration analysis to two dimensions, interest rates and mortgage prepayments, and develop independent hedging rules for the interest rate risk and the prepayment risk. In particular, we define the PSA duration as a formal measure...

Burnup credit in Spain

International Nuclear Information System (INIS)

Conde, J.M.; Recio, M.

2001-01-01

The status of development of burnup credit for criticality safety analyses in Spain is described in this paper. Ongoing activities in the country in this field, both national and international, are resumed. Burnup credit is currently being applied to wet storage of PWR fuel, and credit to integral burnable absorbers is given for BWR fuel storage. It is envisaged to apply burnup credit techniques to the new generation of transport casks now in the design phase. The analysis methodologies submitted for the analyses of PWR and BWR fuel wet storage are outlined. Analytical activities in the country are described, as well as international collaborations in this field. Perspectives for future research and development of new applications are finally resumed. (author)

Burnup credit demands for spent fuel management in Ukraine

International Nuclear Information System (INIS)

Medun, V.

2001-01-01

In fact, till now, burnup credit has not be applied in Ukrainian nuclear power for spent fuel management systems (storage and transport). However, application of advanced fuel at VVER reactors, arising spent fuel amounts, represent burnup credit as an important resource to decrease spent fuel management costs. The paper describes spent fuel management status in Ukraine from viewpoint of subcriticality assurance under spent fuel storage and transport. It also considers: 1. Regulation basis concerning subcriticality assurance, 2. Basic spent fuel and transport casks characteristics, 3. Possibilities and demands for burnup credit application at spent fuel management systems in Ukraine. (author)

The effect of mortgage origination fees on the housing price dynamics

Czech Academy of Sciences Publication Activity Database

Tsharakyan, Ashot

-, č. 357 (2008), s. 1-36 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : mortgage origination fees * housing price * mortgage market deregulation Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp357.pdf

How do mortgage lenders influence neighbourhood dynamics? Redlining and predatory lending

NARCIS (Netherlands)

Aalbers, M.B.; van Ham, M.; Manley, D.; Bailey, N.; Simpson, L.; Maclennan, D.

2013-01-01

Manuel Aalbers argues that the actions of mortgage lenders can play an important role in understanding the trajectories of some of the most deprived neighbourhoods in Western cities. Mortgage lenders use the notion of the neighbourhood as a means to reduce their risk or to extract profit, and as

Extra-Margins in ACM's Adjusted NMa ‘Mortgage-Rate-Calculation Method

NARCIS (Netherlands)

Dijkstra, M.; Schinkel, M.P.

2013-01-01

We analyse the development since 2004 of our concept of extra-margins on Dutch mortgages (Dijkstra & Schinkel, 2012), based on funding cost estimations in ACM (2013), which are an update of those in NMa (2011). Neither costs related to increased mortgage-specific risks, nor the inclusion of Basel

24 CFR 251.6 - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 251.6 Section 251.6 Housing and Urban Development Regulations Relating to Housing and... HOUSING PROJECTS § 251.6 Method of payment of mortgage insurance premiums. In the cases that the... affected lenders, that mortgage insurance premiums be remitted electronically. [63 FR 1303, Jan. 8, 1998] ...

24 CFR 252.6 - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 252.6 Section 252.6 Housing and Urban Development Regulations Relating to Housing and..., AND BOARD AND CARE HOMES § 252.6 Method of payment of mortgage insurance premiums. The provisions of..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT...

24 CFR 236.252 - First, second, and third mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 236.252 Section 236.252 Housing and Urban Development Regulations Relating to Housing... insurance premiums. All of the provisions of § 207.252 of this chapter governing the first, second, and third mortgage insurance premiums shall apply to mortgages insured under this subpart, except: (a) Where...

Technical Basis for Peak Reactivity Burnup Credit for BWR Spent Nuclear Fuel in Storage and Transportation Systems

Energy Technology Data Exchange (ETDEWEB)

Marshall, William BJ J [ORNL; Ade, Brian J [ORNL; Bowman, Stephen M [ORNL; Gauld, Ian C [ORNL; Ilas, Germina [ORNL; Mertyurek, Ugur [ORNL; Radulescu, Georgeta [ORNL

2015-01-01

Oak Ridge National Laboratory and the United States Nuclear Regulatory Commission have initiated a multiyear project to investigate application of burnup credit for boiling-water reactor (BWR) fuel in storage and transportation casks. This project includes two phases. The first phase (1) investigates applicability of peak reactivity methods currently used in spent fuel pools (SFPs) to storage and transportation systems and (2) evaluates validation of both reactivity (k_eff) calculations and burnup credit nuclide concentrations within these methods. The second phase will focus on extending burnup credit beyond peak reactivity. This paper documents the first phase, including an analysis of lattice design parameters and depletion effects, as well as both validation components. Initial efforts related to extended burnup credit are discussed in a companion paper. Peak reactivity analyses have been used in criticality analyses for licensing of BWR fuel in SFPs over the last 20 years. These analyses typically combine credit for the gadolinium burnable absorber present in the fuel with a modest amount of burnup credit. Gadolinium burnable absorbers are used in BWR assemblies to control core reactivity. The burnable absorber significantly reduces assembly reactivity at beginning of life, potentially leading to significant increases in assembly reactivity for burnups less than 15–20 GWd/MTU. The reactivity of each fuel lattice is dependent on gadolinium loading. The number of gadolinium-bearing fuel pins lowers initial lattice reactivity, but it has a small impact on the burnup and reactivity of the peak. The gadolinium concentration in each pin has a small impact on initial lattice reactivity but a significant effect on the reactivity of the peak and the burnup at which the peak occurs. The importance of the lattice parameters and depletion conditions are primarily determined by their impact on the gadolinium depletion. Criticality code validation for BWR burnup

26 CFR 1.166-6 - Sale of mortgaged or pledged property.

Science.gov (United States)

2010-04-01

...-6 Sale of mortgaged or pledged property. (a) Deficiency deductible as bad debt—(1) Principal amount... been returned by him) as a bad debt for the taxable year in which it becomes wholly worthless or is... mortgaged or pledged property by certain mutual savings banks, domestic building and loan associations, and...

24 CFR 255.6 - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 255.6 Section 255.6 Housing and Urban Development Regulations Relating to Housing and... PROJECTS § 255.6 Method of payment of mortgage insurance premiums. The provisions of 24 CFR 251.6 shall..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT...

7 CFR 3565.108 - Responsibility for actions of agents and mortgage brokers.

Science.gov (United States)

2010-01-01

... brokers. 3565.108 Section 3565.108 Agriculture Regulations of the Department of Agriculture (Continued... Requirements § 3565.108 Responsibility for actions of agents and mortgage brokers. An approved lender is responsible for the actions of its agents and mortgage brokers. ...

49 CFR 260.17 - Credit risk premium analysis.

Science.gov (United States)

2010-10-01

... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium analysis. 260.17 Section 260... Financial Assistance § 260.17 Credit risk premium analysis. (a) When Federal appropriations are not available to cover the total subsidy cost, the Administrator will determine the Credit Risk Premium...

24 CFR 206.25 - Calculation of payments.

Science.gov (United States)

2010-04-01

... HOME EQUITY CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement Eligible Mortgages § 206.25... principal limit set aside as a line of credit including any set asides for repairs and first year property... credit separately or with monthly payments. If the mortgagor has a line of credit, separately or combined...

Linking mortgage finance incentives to a voluntary home energy rating system: Insight into consensus building

International Nuclear Information System (INIS)

Jenior, M.-M.

1994-01-01

A collaborative consensus process was created to implement a program linking voluntary home energy rating systems (HERS) to mortgage incentives. The participants involved many of the stakeholders or interest groups who have a role in implementing and who will be affected by energy efficiency mortgate incentive programs linked to HERS. The participants included representatives from the primary and secondary mortgage market; real estate, home building, and remodeling industries; utilities; state, local, consumer, and environmental organizations; and home energy rating providers. The participants defined the actions required to implement as well as the technical requirements of a program linking home energy ratings and mortgage finance. Building on the recommendations of the collaborative process, members of the collaborative continue to take initiatives to put a Home Energy Rating Systems Council into place, in planning pilot programs for developing and testing ways to link HERS and mortgage programs, and in making home buyers and owners aware of existing mortgage incentives. At the same time, mortgage providers are working to develop uniformity among mortgage incentive programs and with the US Department of Energy to develop procedures to verify the relative accuracy of HERS calculation tools and their application, and with the emerging HERS Council to develop the guidelines for voluntary HERS required under the Energy Policy Act of 1992

A boundary PDE feedback control approach for the stabilization of mortgage price dynamics

Science.gov (United States)

Rigatos, G.; Siano, P.; Sarno, D.

2017-11-01

Several transactions taking place in financial markets are dependent on the pricing of mortgages (loans for the purchase of residences, land or farms). In this article, a method for stabilization of mortgage price dynamics is developed. It is considered that mortgage prices follow a PDE model which is equivalent to a multi-asset Black-Scholes PDE. Actually it is a diffusion process evolving in a 2D assets space, where the first asset is the house price and the second asset is the interest rate. By applying semi-discretization and a finite differences scheme this multi-asset PDE is transformed into a state-space model consisting of ordinary nonlinear differential equations. For the local subsystems, into which the mortgage PDE is decomposed, it becomes possible to apply boundary-based feedback control. The controller design proceeds by showing that the state-space model of the mortgage price PDE stands for a differentially flat system. Next, for each subsystem which is related to a nonlinear ODE, a virtual control input is computed, that can invert the subsystem's dynamics and can eliminate the subsystem's tracking error. From the last row of the state-space description, the control input (boundary condition) that is actually applied to the multi-factor mortgage price PDE system is found. This control input contains recursively all virtual control inputs which were computed for the individual ODE subsystems associated with the previous rows of the state-space equation. Thus, by tracing the rows of the state-space model backwards, at each iteration of the control algorithm, one can finally obtain the control input that should be applied to the mortgage price PDE system so as to assure that all its state variables will converge to the desirable setpoints. By showing the feasibility of such a control method it is also proven that through selected modification of the PDE boundary conditions the price of the mortgage can be made to converge and stabilize at specific

Higher bank capital requirements and mortgage pricing: evidence from the Counter-Cyclical Capital Buffer

OpenAIRE

Basten, Christoph; Koch, Cathérine

2014-01-01

We examine mortgage pricing before and after Switzerland was the first country to activate the Counter-Cyclical Capital Buffer of Basel III. Observing multiple mortgage offers per request, we obtain three core findings. First, capitalconstrained and mortgage-specialized banks raise their rates relatively more. Second, risk-weighting schemes supposed to discriminate against more risky borrowers do not amplify the effect of higher capital requirements. Third, CCB-subjected banks and CCB-exempt ...

Mortgage Risk and the Yield Curve

DEFF Research Database (Denmark)

Malkhozov, Aytek; Mueller, Philippe; Vedolin, Andrea

2016-01-01

We study feedback from the risk of outstanding mortgage-backed securities (MBS) on the level and volatility of interest rates. We incorporate supply shocks resulting from changes in MBS duration into a parsimonious equilibrium dynamic term structure model and derive three predictions...

26 CFR 6a.103A-1 - Interest on mortgage subsidy bonds.

Science.gov (United States)

2010-04-01

... interest on a mortgage subsidy bond is includable in gross income and subject to Federal income taxation... the regulations thereunder. (4) Advance refunding. On or after December 5, 1980, no tax-exempt obligation may be issued for the advance refunding of a mortgage subsidy bond (determined without regard to...

24 CFR 207.252e - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 207.252e Section 207.252e Housing and Urban Development Regulations Relating to Housing... Premiums § 207.252e Method of payment of mortgage insurance premiums. In the cases that the Commissioner... mortgagees, that mortgage insurance premiums be remitted electronically. [63 FR 1303, Jan. 8, 1998] ...

25 CFR 152.34 - Approval of mortgages and deeds of trust.

Science.gov (United States)

2010-04-01

... 25 Indians 1 2010-04-01 2010-04-01 false Approval of mortgages and deeds of trust. 152.34 Section 152.34 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER ISSUANCE OF PATENTS IN FEE, CERTIFICATES OF COMPETENCY, REMOVAL OF RESTRICTIONS, AND SALE OF CERTAIN INDIAN LANDS Mortgages and Deeds of Trust to Secure Loans to...

Conceptual cask design with burnup credit

International Nuclear Information System (INIS)

Lee, Seong Hee; Ahn, Joon Gi; Hwang, Hae Ryong

2003-01-01

Conceptual design has been performed for a spent fuel transport cask with burnup credit and a neutron-absorbing material to maximize transportation capacity. Both fresh and burned fuel are assumed to be stored in the cask and boral and borated stainless steel are selected for the neutron-absorbing materials. Three different sizes of cask with typical 14, 21 and 52 PWR fuel assemblies are modeled and analyzed with the SCALE 4.4 code system. In this analysis, the biases and uncertainties through validation calculations for both isotopic predictions and criticality calculation for the spent fuel have been taken into account. All of the reactor operating parameters, such as moderator density, soluble boron concentration, fuel temperature, specific power, and operating history, have been selected in a conservative way for the criticality analysis. Two different burnup credit loading curves are developed for boral and borated stainless steel absorbing materials. It is concluded that the spent fuel transport cask design with burnup credit is feasible and is expected to increase cask payloads. (author)

The impact of possession on legality of mortgage registered on a building under construction: With case law

Directory of Open Access Journals (Sweden)

Vicković Tanja

2016-01-01

Full Text Available The expansion of the subject of a mortgage to buildings under construction is a considerable step forward in regulating mortgages. It is not possible to register ownership rights on buildings under construction. A person acquiring ownership does not have the possibility to protect his rights. Acquiring ownership rights to a building under construction is tied to possession. This is detrimental to the principle of publicity which in turn erodes the principle of reliance. Validity of the mortgage is tied to the possession over the mortgaged real estate at the time of its registration. Such position of the courts challenges the very essence of mortgage.

COGEMA/TRANSNUCLEAIRE's experience with burnup credit

International Nuclear Information System (INIS)

Chanzy, Y.; Guillou, E.

1998-01-01

Facing a continuous increase in the fuel enrichments, COGEMA and TRANSNUCLEAIRE have implemented step by step a burnup credit programme to improve the capacity of their equipment without major physical modification. Many authorizations have been granted by the French competent authority in wet storage, reprocessing and transport since 1981. As concerns transport, numerous authorizations have been validated by foreign competent authorities. Up to now, those authorizations are restricted to PWR Fuel type assemblies made of enriched uranium. The characterization of the irradiated fuel and the reactivity of the systems are evaluated by calculations performed with well qualified French codes developed by the CEA (French Atomic Energy Commission): CESAR as a depletion code and APPOLO-MORET as a criticality code. The authorizations are based on the assurance that the burnup considered is met on the least irradiated part of the fuel assemblies. Besides, the most reactive configuration is calculated and the burnup credit is restricted to major actinides only. This conservative approach allows not to take credit for any axial profile. On the operational side, the procedures have been reevaluated to avoid misloadings and a burnup verification is made before transport, storage and reprocessing. Depending on the level of burnup credit, it consists of a qualitative (go/no-go) verification or of a quantitative measurement. Thus the use of burnup credit is now a common practice in France and Germany and new improvements are still in progress: extended qualifications of the codes are made to enable the use of six selected fission products in the criticality evaluations. (author)

75 FR 60352 - Notice of Proposed Rulemaking: Mortgage Acts and Practices - Advertising Rule

Science.gov (United States)

2010-09-30

... Acts and Practices - Advertising Rule AGENCY: Federal Trade Commission (FTC or Commission). ACTION...) relating to unfair or deceptive acts and practices that may occur with regard to mortgage advertising, the Mortgage Acts and Practices (MAP) - Advertising Rule (proposed rule). The proposed rule published for...

'Cognitive closure' in the Netherlands: mortgage securitization in a hybrid European political economy

NARCIS (Netherlands)

Aalbers, M.B.; Engelen, E.; Glasmacher, A.

2011-01-01

There is a strong case that mortgage-backed securities were at the root of the 2007 - 09 financial crisis. Even though geographers have convincingly demonstrated that loan origination is strongly locally rooted and that the fallout from the subprime mortgage crisis clearly had spatially

24 CFR 207.252c - Premiums-mortgages insured pursuant to section 238(c) of the Act.

Science.gov (United States)

2010-04-01

.... All of the provisions of §§ 207.252 and 207.252a governing mortgage insurance premiums shall apply to... insurance premiums due on such mortgages in accordance with §§ 207.252 and 207.252a shall be calculated on... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Premiums-mortgages insured pursuant...

Financial and estimating indicators for assessment of mortgage lending value

Directory of Open Access Journals (Sweden)

Antonio Benvenuti

2013-08-01

Full Text Available The article proposes a calculation criteria for the determination of the mortgage lending value which originates from the application of the financial method (direct capitalisation, by adopting a capitalisation rate calculated by means of the Debt Coverage Ratio (DCR, taking into consideration the criteria set out by the mortgage lending value, that is (i prudent appreciation of the future marketability, (ii normal and local market conditions, (iii current use and (iv long-term sustainability of the property.

26 CFR 1.162-19 - Capital contributions to Federal National Mortgage Association.

Science.gov (United States)

2010-04-01

... issuance price (the amount of capital contributions evidenced by a share of stock) over the fair market... sale to FNMA of mortgage paper gives rise to the issuance of a share of FNMA stock during a taxable... gain or loss from the sale to FNMA of mortgage paper, with respect to which a share of FNMA stock is...

Varieties of indebtedness: Financialization and mortgage market institutions in Europe.

Science.gov (United States)

Van Gunten, Tod; Navot, Edo

2018-02-01

During the global housing boom that preceded the 2007-9 financial crisis, household debt increased substantially in many European countries, posing a challenge for literature on financialization and the institutional heterogeneity of mortgage markets. This paper examines recent institutional shifts in European mortgage markets and specifies three analytically distinct models of debt accumulation: inclusion, extension and intensity. While existing research has emphasized inclusion (access to homeownership), we show that financial intensification is an important determinant of cross-national variation in debt. We assess the variation in financial intensity in six European countries (France, Germany, Italy, the Netherlands, Portugal and Spain) using household-level survey data. Our results show that inclusion and expansion explain only part of the cross-national variation in mortgage debt to income ratios. Furthermore, household financial behavior is consistent with the financial intensity model, and variation in the degree of financial intensification explains a substantial portion of the cross-national difference in debt levels. Copyright © 2017 Elsevier Inc. All rights reserved.

International and Russian practice of banking risk-management. Mortgage risks

Directory of Open Access Journals (Sweden)

A. V. Nikolaeva

2016-01-01

Full Text Available The goal of the work is to compare Russian norms and standards of risk management of mortgage lending with international standards of risk management based on the documents of the Basel Committee. The article also aims to analyze new banking tools of risk management of mortgage lending, that arise in connection with the application of international norms and standards of risk management.Materials and Methods: The main documents considered in the article are the agreements on capital, issued by the Basel Committee on Banking Supervision: Basel-I (1988, Basel-II (2004 and Basel-III (2010, as well as instructions and standing orders issued by the Central Bank of Russia, including: Instruction № 139-I "Ob obiazatel'nykh normativakh bankov", instruction № 1 "O poriadke regulirovaniia deiatel'nosti kommercheskikh bankov", the standing order number 215-P "O metodike opredeleniia sobstvennykh sredstv (kapitala kreditnykh organizatsii", the standing order № 395-P "O metodike opredeleniia velichiny sobstvennykh sredstv (kapitala kreditnykh organizatsii («BAZEL III»" and others. On the basis of these documents the work examines and summarizes the main methods of risk management of mortgage lending, such as: comparison and analysis of risk management techniques, study of the basic documents regulating risk management in banks and generalization of risk management methods in the segment of mortgage lending.Results: The article analyzes the legal and methodological basis of risk management and provides practical methods that can be used in practice for managerial decisions in a constantly changing external economic environment. It also analyses international and native risk management. Russian standards of risk-management are compared with international. The work conducts a critical review of the effects of introduction of international standards in Russia. Special attention is paid to the practice of mortgage risk

Liquidity Constraints and the Centralized Home Mortgage Policy in China

DEFF Research Database (Denmark)

Gao, Cixiu

2017-01-01

This paper investigates China's centralized mortgage policy in general, and evaluates the policy change in 2011: the minimum down payment was dramatically raised to 60% of the home price. Using our previously developed structural model, we recover the unobserved liquidity wealth levels of individ......This paper investigates China's centralized mortgage policy in general, and evaluates the policy change in 2011: the minimum down payment was dramatically raised to 60% of the home price. Using our previously developed structural model, we recover the unobserved liquidity wealth levels...

Burnup credit activities in the United States

International Nuclear Information System (INIS)

Lake, W.H.; Thomas, D.A.; Doering, T.W.

2001-01-01

This report covers progress in burnup credit activities that have occurred in the United States of America (USA) since the International Atomic Energy Agency's (IAEA's) Advisory Group Meeting (AGM) on Burnup Credit was convened in October 1997. The Proceeding of the AGM were issued in April 1998 (IAEA-TECDOC-1013, April 1998). The three applications of the use of burnup credit that are discussed in this report are spent fuel storage, spent fuel transportation, and spent fuel disposal. (author)

Does Homeownership Counseling Affect the Prepayment and Default Behavior of Affordable Mortgage Borrowers?

Science.gov (United States)

Quercia, Roberto; Spader, Jonathan

2008-01-01

The lack of industry wide data on homeownership education and counseling (HEC) programs has severely limited evaluation. In particular, very little evidence exists on the relationship between HEC completion and loan prepayment, an outcome of interest to both mortgage lenders and consumer advocates. Where mortgage prepayment directly influences the…

Mortgages, seniors and the common law contractual doctrine of mental incapacity in Australia.

Science.gov (United States)

Burns, Fiona

2011-01-01

Seniors in Australia are being called upon to mortgage their most precious economic asset, the family home. They may be asked to guarantee the liabilities of other family members by providing a mortgage-based guarantee or they may decide to enter into a reverse mortgage to supplement financially their savings and pensions. As the family home is the single most valuable asset for most older Australians, the creation of any obligations in regard to it ought to be undertaken with care and vigilance. While seniors are free to create mortgage, they may lack the capacity to understand the legal ramifications of these complex transactions or be unable to protect their interests when entering into them. It is not suggested that older Australians necessarily suffer a lack of contractual capacity. Many seniors are more than able to take care of their interests and assets. However, some seniors do suffer cognitive impairment which adversely affects their capacity to act in their best interests and to navigate the complexities of contractual relations. In contract and mortgage law, this raises the issue of mental incapacity. For centuries, the common law has recognized not only that mentally incapacitated people exist, but that they may enter into contracts such as mortgage and may later wish to have the mortgage set aside. The present formulation of the contractual doctrine of mental incapacity is the product of 19th century jurisprudence in which the courts framed the doctrine to accommodate commercial dealing rather than the interests of persons who lacked the necessary mental capacity. Accordingly, the doctrine has been very difficult to rely on successfully when challenging mortgages made by persons lacking capacity. Therefore, Australian litigators and courts alike have sought to deal with mental incapacity issues in the contractual context by using and modifying other doctrines (such as non est factum, undue influence and unconscionable dealing) in which the issue of

78 FR 64143 - 30-Day Notice of Proposed Information Collection: Contractor's Requisition-Project Mortgages

Science.gov (United States)

2013-10-25

... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5683-N-88] 30-Day Notice of Proposed Information Collection: Contractor's Requisition--Project Mortgages AGENCY: Office of the Chief Information... Title of Information Collection: Contractor's Requisition--Project Mortgages. OMB Approval Number: 2502...

24 CFR 207.259a - Waiver of title objection; mortgages formerly Commissioner-held.

Science.gov (United States)

2010-04-01

... UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES MULTIFAMILY HOUSING MORTGAGE INSURANCE Contract Rights and Obligations Rights and Duties of Mortgagee Under the Contract of Insurance § 207.259a Waiver of... any lien or other adverse interest that was senior to the mortgage on the date of the original sale of...

Value of burnup credit beyond actinides

International Nuclear Information System (INIS)

Lancaster, D.; Fuentes, E.; Kang, Chi.

1997-01-01

DOE has submitted a topical report to the NRC justifying burnup credit based only on actinide isotopes (U-234, U-235, U-236, U-238, Pu-238, Pu-239, Pu-240, Pu-241, Pu-242, and Am-241). When this topical report is approved, it will allow a great deal of the commercial spent nuclear fuel to be transported in significantly higher capacity casks. A cost savings estimate for shipping fuel in 32 assembly (burnup credit) casks as opposed to 24 assembly (non-burnup credit) casks was previously presented. Since that time, more detailed calculations have been performed using the methodology presented in the Actinide-Only Burnup Credit Topical Report. Loading curves for derated casks have been generated using actinide-only burnup credit and are presented in this paper. The estimates of cost savings due to burnup credit for shipping fuel utilizing 32, 30, 28, and 24 assembly casks where only the 24 assembly cask does not burnup credit have been created and are discussed. 4 refs., 2 figs

75 FR 29877 - Affordable Housing Program Amendments: Federal Home Loan Bank Mortgage Refinancing Authority

Science.gov (United States)

2010-05-28

...: Federal Home Loan Bank Mortgage Refinancing Authority AGENCY: Federal Housing Finance Agency. ACTION... Federal Housing Finance Agency (FHFA) to permit the Federal Home Loan Banks (Banks) until July 30, 2010... Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, Enterprises), the Banks, and...

CREDIT SYSTEM AND CREDIT GUARANTEE PROGRAMS

OpenAIRE

Turgay GECER

2012-01-01

Credit system is an integrated architecture consisted of financial information, credit rating, credit risk management, receivables and credit insurance systems, credit derivative markets and credit guarantee programs. The main purpose of the credit system is to provide the functioning of all credit channels and to make it easy to access of credit sources demanded by all of real and legal persons in any economic system. Credit guarantee program, the one of prominent elements of the credit syst...

Role of measurement systems in burnup credit operations

International Nuclear Information System (INIS)

Ewing, R.I.; Sanders, T.L.

1991-01-01

Spent fuel transport casks designed using burnup credit have increased payloads that may greatly reduce the number of shipments required to transport spent fuel from reactor sites to repositories. Burnup credit is obtained by applying the reduced reactivity of spent fuel to considerations of nuclear criticality in the design of transport casks. Although it does not appear to be possible to directly measure the criticality of spent fuel assemblies, measurements can be employed to ensure that the only assemblies loaded into a cask have the characteristics appropriate to that cask design. An effective on-site measurement system must be matched to the characteristics of the spent fuel cask design and to the inventory of spent fuel. For operation reasons the system should be simple, accurate, efficient, and easily calibrated. This paper is part of a study to examine the effects of the spent fuel inventory in the U.S. on the selection of measurement systems useful in burnup credit operations

Phenomena and parameters important to burnup credit

International Nuclear Information System (INIS)

Parks, C.V.; Dehart, M.D.; Wagner, J.C.

2001-01-01

Since the mid-1980s, a significant number of studies have been directed at understanding the phenomena and parameters important to implementation of burnup credit in out-of-reactor applications involving pressurized-water- reactor (PWR) spent fuel. The efforts directed at burnup credit involving boiling-water-reactor (BWR) spent fuel have been more limited. This paper reviews the knowledge and experience gained from work performed in the United States and other countries in the study of burnup credit. Relevant physics and analysis phenomenon are identified, and an assessment of their importance to burnup credit implementation for transport and dry cask storage is given. (author)

Application of burnup credit in spent fuel management at Russian NPPs

International Nuclear Information System (INIS)

Koulikov, V.I.; Makarchuk, T.F.; Tikhonov, N.S.

1998-01-01

The article concerns implementation of burnup credit in spent fuel storage and transportation. Some of the problems with increased enrichment fuel can be resolved by use of modified transport methodology. Such as shipping in gas-filled casks only, reduced number of assemblies in casks, etc. However, the use of modified schemes of transportation results in essential financial losses. An actinide-only burnup credit is taken into account in most part of criticality calculations, and a parameter limiting loading of spent fuel in the cask or the repository is the avenge value of burnup on an assembly. The main method of burnup depth definition is its defect measurement. A short description of devices for measurement as well as some technical results of suing burnup credit approach in storage and transport are given. (author)

Advances in applications of burnup credit to enhance spent fuel transportation, storage, reprocessing and disposition. Proceedings of a technical meeting

International Nuclear Information System (INIS)

2007-05-01

Given a trend towards higher burnup power reactor fuel, the IAEA began an active programme in burnup credit (BUC) with major meetings in 1997 (IAEA-TECDOC-1013), 2000 (IAEA-TECDOC-1241) and 2002 (IAEA-TECDOC-1378) exploring worldwide interest in using BUC in spent fuel management systems. This publication contains the proceedings of the IAEA's 4th major BUC meeting, held in London. Sixty participants from 18 countries addressed calculation methodology, validation and criticality, safety criteria, procedural compliance with safety criteria, benefits of BUC applications, and regulatory aspects in BUC. This meeting encouraged the IAEA to continue its activities on burnup credit including dissemination of related information, given the number of Member States having to deal with increased spent fuel quantities and extended durations. A 5th major meeting on burnup credit is planned 2008. Burnup credit is a concept that takes credit for the reduced reactivity of fuel discharged from the reactor to improve loading density of irradiated fuel assemblies in storage, transportation, and disposal applications, relative to the assumption of fresh fuel nuclide inventories in loading calculations. This report has described a general four phase approach to be considered in burnup credit implementation. Much if not all of the background research and data acquisition necessary for successful burnup credit development in preparation for licensing has been completed. Many fuel types, facilities, and analysis methods are encompassed in the public knowledge base, such that in many cases this guidance will provide a means for rapid development of a burnup credit program. For newer assembly designs, higher enrichment fuels, and more extensive nuclide credit, additional research and development may be necessary, but even this work can build on the foundation that has been established to date. Those, it is hoped that this report will serve as a starting point with sufficient reference to

75 FR 10707 - MORTGAGE ASSISTANCE RELIEF SERVICES

Science.gov (United States)

2010-03-09

... offer ``forensic audits,'' purported reviews of mortgage loans to determine lender and servicer.... filed Apr. 3, 2009); California Dep't of Real Estate, Consumer Alert 6 (warning consumers of ``forensic... defendants falsely claim to have attorneys or forensic accountants on staff); FTC v. Loan Modification Shop...

"When you're in a crisis like that, you don't want people to know": mortgage strain, stigma, and mental health.

Science.gov (United States)

Keene, Danya E; Cowan, Sarah K; Baker, Amy Castro

2015-05-01

We analyzed experiences of stigmatization, concealment, and isolation among African American homeowners who were experiencing mortgage strain. We conducted semistructured interviews between March 2012 and May 2013 with 28 African American homeowners in a northeastern US city who were experiencing mortgage strain. We coded all of the transcripts and reviewed data for codes relating to stigma, sharing information, social support, social isolation, and the meaning of homeownership. Our data showed that mortgage strain can be a concealable stigma. Participants internalized this stigma, expressing shame about their mortgage situation. Additionally, some participants anticipated that others would view them as less worthy given their mortgage trouble. In an effort to avoid stigmatization, many concealed their mortgage trouble, which often led to isolation. This stigmatization, concealment, and isolation seemed to contribute to participants' depression, anxiety, and emotional distress. Stigma may exacerbate stress associated with mortgage strain and contribute to poor mental health, particularly among upwardly mobile African Americans who have overcome significant structural barriers to home ownership. Reducing stigma associated with mortgage strain may help to reduce the health consequences of this stressful life event.

Dissaving of the Past via Reverse Mortgages

Directory of Open Access Journals (Sweden)

Ana Luiza Champloni

Full Text Available We build a simple two-period general equilibrium model with incomplete markets which incorporates reverse market mortgages without appealing to the complicated framework required by the infinite horizon models. Two types of agents are considered: elderly agents and investors. The former are owners of physical assets (for instance housing who will want to sell them to investors. For that end the elderly agents, who are assumed to not have any bequest motive, issue claims against physical assets they own. One of the claims issued will be interpreted as reverse mortgage (loan for seniors and the other one as a call option written on the value of housing equity. By assuming that both the elderly agents and the investors are price takers, and by applying the generalized game approach, we show that the equilibrium in this economy always exists, providing the usual conditions on utilities and initial endowments are satisfied. We end with a remark on efficiency of the quilibrium.

rapid increase in precaution The global financial crisis: origin ...

African Journals Online (AJOL)

user

2010-05-01

May 1, 2010 ... loosening of lending standards and the rise of sub prime mortgages. In order to cover the risk of defaults on mortgages, particularly sub prime mortgages, sed credit default swaps. 3. (CDSs). These are. 2 Fannie Mae (Federal National Mortgage Association) is a government-sponsored enterprise (GSE) ...

24 CFR 206.51 - Eligibility of mortgages involving a dwelling unit in a condominium.

Science.gov (United States)

2010-04-01

... a dwelling unit in a condominium. 206.51 Section 206.51 Housing and Urban Development Regulations...; Endorsement Eligible Properties § 206.51 Eligibility of mortgages involving a dwelling unit in a condominium. If the mortgage involves a dwelling unit in a condominium, the project in which the unit is located...

24 CFR 207.251 - Definitions.

Science.gov (United States)

2010-04-01

... laws of the State, district or territory in which the real estate is located, together with the credit.... (d) The term insured mortgage means a mortgage which has been insured by the endorsement of the credit instrument by the Commissioner, or his duly authorized representative. (e) The term contract of...

12 CFR 226.35 - Prohibited acts or practices in connection with higher-priced mortgage loans.

Science.gov (United States)

2010-01-01

..., and other loan pricing terms currently offered to consumers by a representative sample of creditors for mortgage transactions that have low-risk pricing characteristics. The Board publishes average... and premiums for mortgage-related insurance required by the creditor, such as insurance against loss...

76 FR 71797 - Federal Agricultural Mortgage Corporation Funding and Fiscal Affairs; Farmer Mac Investments and...

Science.gov (United States)

2011-11-18

... diligence procedures that are required for investments, but we do not intend to change the fundamental... Federal Agricultural Mortgage Corporation Funding and Fiscal Affairs; Farmer Mac Investments and Liquidity... Mortgage Corporation Funding and Fiscal Affairs; Farmer Mac Investments and Liquidity Management AGENCY...

The Exposure of Mortgage Borrowers to Interest Rate Risk, Income Risk and House Price Risk – Evidence from Swiss Loan Application Data

OpenAIRE

Guin, Benjamin; Brown, Martin

2015-01-01

We study the exposure of mortgage borrowers in Switzerland to interest rate, income and house price risks and examine how the households’ choice of risky mortgages is related to individual interest rate expectations and risk-aversion. Our analysis is based on a unique data set of household mortgage applications from September 2012 until January 2014. Our assessment of risk exposure among mortgage borrowers in Switzerland is highly sensitive to the underlying assumptions on mortgage costs, hou...

MODEL PEMBAYARAN GRADUATED PAYMENT MORTGAGE (GPM SEBAGAI SALAH SATU ALTERNATIF PEMBAYARAN KREDIT RUMAH

Directory of Open Access Journals (Sweden)

Njo Anastasia

2003-01-01

Full Text Available The Graduated Payment Mortgage (GPM has a unique stair-step payment schedule that often enhances borrower qualification for young, first-time home buyers who are anticipated to have increasing incomes. The determination of the initial payment on a GPM mortgage is often regarded as complex; therefore, textbook authors especially financial real estate normally disregard its theoretical development and substitute instead GPM interest factor tables. This study develops a general equation for finding the initial payment on a GPM and programmable computer spreadsheets (Microsoft Excel routines for implementing the general equation. This approach enhances the technical understanding of the GPM, and its offer more flexible. Abstract in Bahasa Indonesia : Model Graduated Payment Mortgage (GPM memiliki keunikan dalam pembayaran pinjaman yang dapat membantu peminjam usia muda, pembeli rumah pertama yang dapat diantisipasi pertambahan pendapatannya. Pembayaran cicilan pertama GPM sangat kompleks, sehingga pada umumnya buku-buku tentang keuangan real estat menetapkan pola pembayaran GPM menggunakan tabel suku bunga. Penelitian ini mengembangkan pola pembayaran cicilan pertama GPM menggunakan program komputer (Microsoft Excel untuk lebih fleksibel dalam penerapannya. Kata kunci: graduated payment mortgage, cicilan pertama, tabel suku bunga, komputer.

Issues for effective implementation of burnup credit

International Nuclear Information System (INIS)

Parks, C.V.; Wagner, J.C.

2001-01-01

In the United States, burnup credit has been used in the criticality safety evaluation for storage pools at pressurized water reactors (PWRs) and considerable work has been performed to lay the foundation for use of burnup credit in dry storage and transport cask applications and permanent disposal applications. Many of the technical issues related to the basic physics phenomena and parameters of importance are similar in each of these applications. However, the nuclear fuel cycle in the United States has never been fully integrated and the implementation of burnup credit to each of these applications is dependent somewhat on the specific safety bases developed over the history of each operational area. This paper will briefly review the implementation status of burnup credit for each application area and explore some of the remaining issues associated with effective implementation of burnup credit. (author)

75 FR 75091 - Mortgage Assistance Relief Services

Science.gov (United States)

2010-12-01

... happening for a number of reasons. First, MARS have been advertised and marketed widely in mass media and... ; Stephanie Armour, Home Foreclosure Rates Posts First Annual Decline in Five Years, USA Today (May 13, 2010... demand to work for loan modification companies. One MARS advertised for consultants with mortgage and...

The Impact of Operating Parameters and Correlated Parameters for Extended BWR Burnup Credit

Energy Technology Data Exchange (ETDEWEB)

Ade, Brian J. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Marshall, William B. J. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Ilas, Germina [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Betzler, Benjamin R. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Bowman, Stephen M. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

2017-06-01

Applicants for certificates of compliance for spent nuclear fuel (SNF) transportation and dry storage systems perform analyses to demonstrate that these systems are adequately subcritical per the requirements of Title 10 of the Code of Federal Regulations (10 CFR) Parts 71 and 72. For pressurized water reactor (PWR) SNF, these analyses may credit the reduction in assembly reactivity caused by depletion of fissile nuclides and buildup of neutron-absorbing nuclides during power operation. This credit for reactivity reduction during depletion is commonly referred to as burnup credit (BUC). US Nuclear Regulatory Commission (NRC) staff review BUC analyses according to the guidance in the Division of Spent Fuel Storage and Transportation Interim Staff Guidance (ISG) 8, Revision 3, Burnup Credit in the Criticality Safety Analyses of PWR Spent Fuel in Transportation and Storage Casks.

On the rationality of borrowers' behaviour : Comparing risk-attitudes of homeowners

NARCIS (Netherlands)

Neuteboom, P.

2008-01-01

Though time and depth of cycles differed from one European country to another, mortgage markets have grown in size, expanded in product variation and improved borrowers' accessibility to mortgage credit. However, this expanding range of mortgage opportunities significantly increases the search and

Energy-efficient mortgages and home energy rating systems: A report on the nation`s progress

Energy Technology Data Exchange (ETDEWEB)

Farhar, B.C.; Eckert, J.

1993-09-01

This report summarizes progress throughout the nation in establishing voluntary programs linking home energy rating systems (HERS) and energy-efficient mortgages (EEMs). These programs use methods for rating the energy efficiency of new and existing homes and predicting energy cost savings so lenders can factor in energy cost savings when underwriting mortgages. The programs also encourage lenders to finance cost-effective energy-efficiency improvements to existing homes with low-interest mortgages or other instruments. The money saved on utility bills over the long term can more than offset the cost of such energy-efficiency improvements. The National Collaborative on HERS and EEMs recommended that this report be prepared.

Education Levels and Mortgage Application Outcomes: Evidence of Financial Literacy. Discussion Paper No. 1369-09

Science.gov (United States)

Collins, J. Michael

2009-01-01

This paper uses 2005 Home Mortgage Disclosure Act data aggregated by census tract to measure the relationship between census tract-level college completion rates and the rates at which first lien refinance mortgage applicants submit incomplete loan applications, withdraw loan applications before they are reviewed, and reject lender approved loan…

Contagion in International Stock Markets during the Sub Prime Mortgage Crisis

Directory of Open Access Journals (Sweden)

Hsien-Yi Lee

2012-01-01

Full Text Available The sub prime mortgages crises took place in July, 2007 in US which causes the large scare in the global financial markets, and the international stock and foreign market suffer heavy shock. Using twenty international stock indexes, this study examines whether any contagion effect occurred across international markets after the sub-prime financial mortgage crisis in US. Using the heteroscedasticity biases based on correlation coefficients to examine the existence of the contagion effect, this study shows that stock markets of some countries (namely Hong Kong, Taiwan, Australia and New Zealand did suffer from the contagion effect.

FEATURES OF PRICING OF THE MORTGAGE MARKET IN THE RUSSIAN FEDERATION AND THE REPUBLIC OF MOLDOVA (Part 1

Directory of Open Access Journals (Sweden)

Tatiana KASYANENKO

2016-07-01

Full Text Available The relevance of the study is determined by the importance of the market of mortgage loans as the main instrument of social policy. The aim of the article is to identify the relationship between the volume of mortgage loans and the value of residential real estate on both the primary and secondary markets. The article consists of two parts. The main objective of the first part of this article is to clarify the concepts and features of mortgage loans, and identification of peculiarities of mortgage loans in the Russian Federation and the Republic of Moldova. The methodological basis of the work is made up of methods of analysis and synthesis, the combination of logical and historical approaches, methods of economic comparison and statistical analysis. The result of the study of the first part of the article is to identify the stages of development of mortgage loans in the Russian Federation, an analysis of prices in the primary and secondary markets of residential property on the basis of aggregate statistical indicators that reflect the status and characteristics of the housing market. The Russian experience is correlated with the peculiarities of the development of the mortgage market in the Republic of Moldova.

24 CFR 203.390 - Waiver of title-mortgages or property formerly held by the Secretary.

Science.gov (United States)

2010-04-01

... UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES SINGLE FAMILY MORTGAGE INSURANCE Contract Rights and... conveyed to him, he will not object to title by reason of any lien or other adverse interest that was... mortgage is later conveyed to the Secretary, the Secretary will not object to title by reason of any lien...

12 CFR 226.33 - Requirements for reverse mortgages.

Science.gov (United States)

2010-01-01

... dwelling; and (2) Any principal, interest, or shared appreciation or equity is due and payable (other than... terms, charges, the age of the youngest borrower and the appraised property value. (4) Explanation of... part of the reverse mortgage transaction. (3) Additional creditor compensation. Any shared appreciation...

Disposal criticality analysis methodology's principal isotope burnup credit

International Nuclear Information System (INIS)

Doering, T.W.; Thomas, D.A.

2001-01-01

This paper presents the burnup credit aspects of the United States Department of Energy Yucca Mountain Project's methodology for performing criticality analyses for commercial light-water-reactor fuel. The disposal burnup credit methodology uses a 'principal isotope' model, which takes credit for the reduced reactivity associated with the build-up of the primary principal actinides and fission products in irradiated fuel. Burnup credit is important to the disposal criticality analysis methodology and to the design of commercial fuel waste packages. The burnup credit methodology developed for disposal of irradiated commercial nuclear fuel can also be applied to storage and transportation of irradiated commercial nuclear fuel. For all applications a series of loading curves are developed using a best estimate methodology and depending on the application, an additional administrative safety margin may be applied. The burnup credit methodology better represents the 'true' reactivity of the irradiated fuel configuration, and hence the real safety margin, than do evaluations using the 'fresh fuel' assumption. (author)

75 FR 51623 - Registration of Mortgage Loan Originators

Science.gov (United States)

2010-08-23

... online registration system, the Nationwide Mortgage Licensing System and Registry (Registry). \\1\\ The S.A... benefit only small institutions. \\24\\ 12 U.S.C. 2801 et seq. \\25\\ See 12 CFR 203.2 (Regulation C). Other... limit--rendering gaming opportunities essentially unrealistic. Many commenters noted the complexity of...

The use of burnup credit for spent fuel cask design

International Nuclear Information System (INIS)

Lake, W.H.

1993-01-01

A new generation of high capacity spent fuel transport casks is being developed by the U.S. Department of Energy (DOE) as part of the Federal Waste Management System (FWMS). Burnup credit, which recognizes the reduced reactivity of spent fuel is being used for these casks. Two cask designs being developed for DOE by Babcock and Wilcox and General Atomics use burnup credit. The cask designs must be certified by the U.S. Nuclear Regulatory Commission (NRC) if they are to be used in the FWMS. Certification of these casks by the NRC would not require any change in the NRC's transport regulations, and would be consistent with past practices. Furthermore, use of burnup credit casks appears to be consistent with current International Atomic Energy Agency (IAEA) rules and regulations. To support NRC certification, DOE has identified the technical issues related to burnup credit, and embarked on a development program to resolve them. (J.P.N.)

Appropriate burnup measurements for transportation burnup credit

International Nuclear Information System (INIS)

Lancaster, D.; Fuentes, E.

1997-01-01

This paper addresses two of the measurement specifications used in analyzing spent fuel packages to gain burnup credit. The philosophy and calculation of rejection criteria and measurement accuracy are discussed. Any assembly for which the declared measured value and reactor record value deviate by more than 10% will be rejected. Measurement accuracy requirements are established for dependent and independent systems. The requirements have been tested and are achievable, ensuring safe operation without extra cost. 6 refs

77 FR 56857 - Notice of Proposed Information Collection for Public Comment; Public Housing Mortgage Program and...

Science.gov (United States)

2012-09-14

... of the loan resulting from the mortgage or security interest are used for low-income housing uses... mortgage or security interest in any public housing real estate or other assets, a proposal must be submitted to HUD. After approval and execution of any legal documents associated with the loan and related...

77 FR 70175 - Notice of Submission of Proposed Information Collection to OMB; Public Housing Mortgage Program...

Science.gov (United States)

2012-11-23

... public housing real property or grant a security interest in other tangible forms of personal property if the proceeds of the loan resulting from the mortgage or security interest are used for low- income..., October 21, 1998) added Section 30, Public Housing Mortgages and Security Interest, to the United States...

Housing Finance in Ghana: Can Community Mortgage Cooperatives ...

African Journals Online (AJOL)

There is insufficient housing in Ghana. Available houses are mostly poorly developed and lack the basic amenities required to make them habitable. The growth of households is in excess of housing growth resulting in housing deficit in the country. The formal finance institutions have supplied very little mortgages to ...

The Informal Sector and Mortgage Financing in Ghana

African Journals Online (AJOL)

with some increment prior to first payment completion and flexible collateral ... it presupposes that any policy intervention may be a failure once the informal ... While inflation had remained slightly stable keeping interest rates also slightly firm, the ..... discussed earlier, the mortgage system as pertains in Ghana is very formal ...

MODELING CREDIT RISK THROUGH CREDIT SCORING

OpenAIRE

Adrian Cantemir CALIN; Oana Cristina POPOVICI

2014-01-01

Credit risk governs all financial transactions and it is defined as the risk of suffering a loss due to certain shifts in the credit quality of a counterpart. Credit risk literature gravitates around two main modeling approaches: the structural approach and the reduced form approach. In addition to these perspectives, credit risk assessment has been conducted through a series of techniques such as credit scoring models, which form the traditional approach. This paper examines the evolution of...

Validation of SCALE-4 for burnup credit applications

International Nuclear Information System (INIS)

Bowman, S.M.; DeHart, M.D.; Parks, C.V.

1995-01-01

In the past, a criticality analysis of PWR fuel stored in racks and casks has assumed that the fuel is fresh with the maximum allowable initial enrichment. If credit is allowed for fuel burnup in the design of casks that are used in the transport of spent light water reactor fuel to a repository, the increase in payload can lead to a significant reduction in the cost of transport and a potential reduction in the risk to the public. A portion of the work has been performed at ORNL in support of the US DOE efforts to demonstrate a validation approach for criticality safety methods to be used in burnup credit cask design. To date, the SCALE code system developed at ORNL has been the primary computational tool used by DOE to investigate technical issues related to burnup credit. The ANSI/ANS-8.1 criticality safety standard requires validation and benchmarking of the calculational methods used in evaluating criticality safety limits for applications outside reactors by correlation against critical experiments that are applicable. Numerous critical experiments for fresh PWR-type fuel in storage and transport configurations exist and can be used as part of a validation database. However, there are no critical experiments with burned PWR-type fuel in storage and transport configurations. As an alternative, commercial reactors offer an excellent source of measured critical configurations. The results reported demonstrate the ability of the ORNL SCALE-4 methodology to predict a value of k eff very close to the known value of 1.0, both for fresh fuel criticals and for the more complex reactor criticals. Beyond these results, additional work in the determination of biases and uncertainties is necessary prior to use in burnup credit applications

Prime Borrowers and Financial Innovation in the Housing Boom and Bust

DEFF Research Database (Denmark)

Bäckman, Claes; Lutz, Chandler

for better consumption smoothing, even absent any shift in credit supply. In support of the model, we find that the introduction of interest-only mortgages was followed by a large increase in the number of buyers, even as credit quality remained constant. On the aggregate level the results indicate...... that interest-only mortgages amplified the boom-bust pattern in housing: house prices increased an additional 35 percent during the boom due to IO loans, and subsequently reverse during the bust. These effects, which cannot be explained by changes in lending standards or shifts in credit supply, are magnified...... in local housing markets with higher ex-ante house price expectations. Together, the findings document the consequences of introducing IO loans on the micro- and macro level, and illustrates how new mortgage products can have large impacts even in the absence of a shift in credit supply...

24 CFR 203.257 - Creation of the contract.

Science.gov (United States)

2010-04-01

... issuance of a Mortgage Insurance Certificate, from the date of the endorsement of the credit instrument, or... SINGLE FAMILY MORTGAGE INSURANCE Contract Rights and Obligations Endorsement and Contract of Insurance...

Minimizing predatory lending: Designing a long-term compensation structure to minimize the actions of opportunistic mortgage brokers

Directory of Open Access Journals (Sweden)

Patrick Payne

2013-07-01

Full Text Available This paper addresses the inadequacies in the current compensation structure for mortgage brokers, and asserts that the resulting opportunistic behavior by brokers played a major role in the 2008 collapse of the mortgage market. We utilize agency theory as an underpinning to suggest that increased regulation will have only a limited impact on self-serving behavior due to the complex information asymmetries possessed by brokers. We posit that a restructured long-term compensation package would be effective in aligning the interests of borrowers and brokers, ultimately reducing the level of mortgage defaults and foreclosures.

The financialization of home and the mortgage market crisis

NARCIS (Netherlands)

Aalbers, M.B.

2008-01-01

Financialization can be characterized as capital switching from the primary, secondary or tertiary circuit to the quaternary circuit of capital. Housing is a central aspect of financialization. The financialization of mortgage markets demands that not just homes but also homeowners become viewed as

Survey data on factors affecting negotiation of professional fees between Estate Valuers and their clients when the mortgage is financed by bank loan: A case study of mortgage valuations in Ikeja, Lagos State, Nigeria.

Science.gov (United States)

Iroham, Chukwuemeka O; Okagbue, Hilary I; Ogunkoya, Olalekan A; Owolabi, James D

2017-06-01

In this article, two sets of questionnaires were administered to professionals and clients (commercial banks) on their willingness to negotiate the professional fees charged by the Estate Valuers assuming that the mortgage in valuation was financed by bank loan. A range of fees options were provided. Other factors such as the business environment and mortgage valuation can influence the negotiated fees when the data obtained from the survey data is analyzed.

SPILLOVER EFFECTS OF THE SUB-PRIME MORTGAGE CRISIS TO THE ASIAN STOCK MARKETS

Directory of Open Access Journals (Sweden)

Esta Lestari

2014-10-01

Full Text Available AbstractThis paper aims to analyze the effects of the sub-prime mortgage crisis on several Asian stock markets. An Exponential Generalized Autoregressive Conditional Heteroscedasticity (EGARCH model is employed to provide an empirical evidence of the direct spillover. The indirect effect is measured through the spillover effects from the increased volatility in the U.S. stock markets to the Asian stock markets. The results showed that the market integration occurs within Asian stock markets. Meanwhile the asymmetric effects are evident for all the Asian countries stock markets, indicating that financial markets in Asia are suffered more from negative news (shocks lead to more volatilities compared to positive news. Keywords: Stock market, sub-prime mortgage crisis, volatility, spillover effectJEL classification numbers: C22, F36, G15AbstrakPaper ini bertujuan untuk menganalisis pengaruh krisis sub-prime mortgage pada beberapa pasar saham Asia. Model Exponential Generalized Autoregressive Conditional Heteroscedasticity (EGARCH digunakan untuk mendapatkan bukti empiris dari kenaikan volatilitas dalam pasar saham Amerika pada pasar-pasar saham Asia. Hasil analisis memperlihatkan bahwa integrasi pasar terjadi di dalam pasar saham Asia. Sementara itu, pengaruh asimetris terbukti terjadi di pasar-pasar saham Asia, mengindikasikan bahwa pasar-pasar keuangan di Asia menderita lebih parah sebagai akibat dari kejutan negatif dibandingkan dengan dampak dari kejutan positif.Kata kunci: Pasar saham, krisis sub-prime mortgage, volatilitas, pengaruh spillover JEL classification numbers: C22, F36, G15

Using forest carbon credits to offset emissions in the downstream business

NARCIS (Netherlands)

Hein, Lars

2017-01-01

A forthcoming report by Concawe, entitled Using Forest Carbon Credits to Offset Emissions in the Downstream Business, investigated whether, and how, forest carbon credits can be used to offset emissions from the European refining and road transport sectors. Forest carbon plays a major role in the

Institutional racism and pregnancy health: using Home Mortgage Disclosure act data to develop an index for Mortgage discrimination at the community level.

Science.gov (United States)

Mendez, Dara D; Hogan, Vijaya K; Culhane, Jennifer

2011-01-01

We used Home Mortgage Disclosure Act (HMDA) data to demonstrate a method for constructing a residential redlining index to measure institutional racism at the community level. We examined the application of the index to understand the social context of health inequities by applying the residential redlining index among a cohort of pregnant women in Philadelphia. We used HMDA data from 1999-2004 to create residential redlining indices for each census tract in Philadelphia County, Pennsylvania. We linked the redlining indices to data from a pregnancy cohort study and the 2000 Census. We spatially mapped the levels of redlining for each census tract for this pregnancy cohort and tested the association between residential redlining and other community-level measures of segregation and individual health. From 1999-2004, loan applicants in Philadelphia County, Pennsylvania, of black race/ethnicity were almost two times as likely to be denied a mortgage loan compared with applicants who were white (e.g., 1999 odds ratio [OR] = 2.00, 95% confidence interval [CI] 1.63, 2.28; and 2004 OR=2.26, 95% CI 1.98, 2.58). The majority (77.5%) of the pregnancy cohort resided in redlined neighborhoods, and there were significant differences in residence in redlined areas by race/ethnicity (pracism may contribute to our understanding of health disparities. Residential redlining and mortgage discrimination against communities may be a major factor influencing neighborhood structure, composition, development, and wealth attainment. This residential redlining index as a measure for institutional racism can be applied in health research to understand the unique social and neighborhood contexts that contribute to health inequities.

78 FR 76033 - Truth in Lending (Regulation Z)

Science.gov (United States)

2013-12-16

... Regulation Z implementing the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act..., Consumer protection, Credit, Credit unions, Mortgages, National banks, Reporting and recordkeeping... Rules Applicable to Credit Card Accounts and Open End Credit Offered to College Students 0 2. Section...

ANS/ENS tutorial session: Burnup credit issues in spent fuel transportation: Overview and objectives

International Nuclear Information System (INIS)

Sanders, T.L.

1988-01-01

A number of opportunities exist to increase the efficiency of the next generation of spent fuel shipping casks. Improving cask efficiency will not only reduce life cycle transportation costs, but also is consistent with maintaining public and occupational radiological risks and, more importantly, total risks (radiological and nonradiological) within the guidelines of the ''as low as reasonably achievable'' (ALARA) philosophy. Increases in cask capacities will reduce both the total number of shipments required to transport a given amount of fuel and the number of handling operations at both shipping and receiving facilities. Additional capacity increases can be achieved by implementing various design strategies based on new concepts and/or the actual characteristics of the majority of the spent fuel to be shipped in the future. For example, it has been determined that additional capacity increases can be achieved by taking credit for burnup, the reduced reactivity that results when fuel has been used to produce power in a nuclear reactor. That is, as the fuel is used the atoms of fissile material decrease, and neutron absorbers (or ''poisons'') that tend to retard the fission process are produced. 7 refs., 1 fig

Emissions credits from natural gas vehicles

International Nuclear Information System (INIS)

Anderson, J.F.; Kodjak, D.

1997-01-01

Dedicated natural gas vehicles (NGVs) often are capable of testing to lower than federally required engine certification standards. NGVs often meet inherently low emission vehicle (ILEV) and ultra low emission vehicle (ULEV) standards. Over the useful life of the vehicle, a significant amount of mobile source emission reduction credits (MSERCs) can be generated. This paper will discuss key elements of establishing a workable methodology to quantify the emissions benefits generated through the purchase and use of heavy-duty natural gas vehicles instead of heavy-duty diesel vehicles. The paper will focus on a public fleet of transit buses owned by the Massachusetts Bay Transit Agency, the Massachusetts Port Authority, and a private fleet of waste haulers. Public fleets may generate emission credits as a key compliance option to offset emission shortfalls from changes to the Employee Commute Options (ECO) program, the Inspection and Maintenance program, and facilitate annual surface transportation conformity. Private fleets may generate emission credits for open market trading to area and stationary sources seeking to buy credits from mobile sources, where allowed by EPA and state policy

Survey data on factors affecting negotiation of professional fees between Estate Valuers and their clients when the mortgage is financed by bank loan: A case study of mortgage valuations in Ikeja, Lagos State, Nigeria

Directory of Open Access Journals (Sweden)

Chukwuemeka O. Iroham

2017-06-01

Full Text Available In this article, two sets of questionnaires were administered to professionals and clients (commercial banks on their willingness to negotiate the professional fees charged by the Estate Valuers assuming that the mortgage in valuation was financed by bank loan. A range of fees options were provided. Other factors such as the business environment and mortgage valuation can influence the negotiated fees when the data obtained from the survey data is analyzed.

“There's a Difference—I Own This”: Negotiating Social and Financial Services under Threat of Mortgage Foreclosure.

Science.gov (United States)

Castro Baker, Amy; Keene, Danya E

2016-10-01

Although national housing markets have recovered from the Great Recession, communities hardest hit by the foreclosure crisis remain immersed in mortgage trouble. Nineteen percent of homeowners are underwater on their mortgages and communities of color are overrepresented among zip codes still experiencing default in rising numbers. The social services needs of homeowners at risk of foreclosure show few signs of abating. High levels of market risk, asymmetrical power relationships, and the assumption that rational action can protect homeowners mark the climate in which households and social workers operate while attempting to halt foreclosure. The research described in this article draws on in-depth interviews conducted with homeowners at risk of default to examine the strategies they used to alleviate their mortgage strain. These strategies included seeking aid from financial and social services institutions while living under threat of default. As homeowners experienced mortgage strain they engaged in recommended rational market actions such as negotiating with lenders, increasing work hours, practicing strict household budgeting, and seeking aid from social work agencies to offset mortgage costs. The gathered data suggest that some social workers responded with poorly contextualized treatment plans and language characterized by disrespect, shame, and blame; others responded with mental health assistance, referrals to legal aid, and a helping relationship characterized by a sense of mattering that seemed to buffer against the psychosocial stressors associated with foreclosure.

Przyczyny kryzysu finansowego z lat 2007-2008 na rynku amerykańskim

OpenAIRE

Serwach, Tomasz

2011-01-01

The 2007-2008 financial crisis is seemed to be biggest economic crisis since the Great Depression of 1929-1933. The root cause of the crisis was the collapse of subprime mortgage market. The reasons of the prior credit boom, however, are not fully understood. The main goal of the paper is to investigate the reasons of precrisis credit boom. Supply- and demand-side determinants of mortgage market are analyzed.

Mortgage Loan Portfolio Optimization Using Multi-Stage Stochastic Programming

DEFF Research Database (Denmark)

Rasmussen, Kourosh Marjani; Clausen, Jens

2007-01-01

We consider the dynamics of the Danish mortgage loan system and propose several models to reflect the choices of a mortgagor as well as his attitude towards risk. The models are formulated as multi stage stochastic integer programs, which are difficult to solve for more than 10 stages. Scenario...

Stochastic optimization of subprime residential mortgage loan funding and its risks / by B. de Waal

OpenAIRE

De Waal, Bernadine

2010-01-01

The subprime mortgage crisis (SMC) is an ongoing housing and nancial crisis that was triggered by a marked increase in mortgage delinquencies and foreclosures in the U.S. It has had major adverse consequences for banks and nancial markets around the globe since it became apparent in 2007. In our research, we examine an originator's (OR's) nonlinear stochastic optimal control problem related to choices regarding deposit inflow rates and marketable securities allocation. Here, ...

24 CFR 206.17 - General.

Science.gov (United States)

2010-04-01

... CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement Eligible Mortgages § 206.17 General. (a) Payment... option (§ 206.19(b)), or the line of credit payment option (§ 206.19(c)), or a combination as provided in...

75 FR 9247 - Single Family Mortgage Insurance Premium, Single Family

Science.gov (United States)

2010-03-01

... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5376-N-13] Single Family Mortgage Insurance Premium, Single Family AGENCY: Office of the Chief Information Officer, HUD. ACTION: Notice... is soliciting public comments on the subject proposal. Lenders use the Single Family Premium...

Review of Technical Studies in the United States in Support of Burnup Credit Regulatory Guidance

International Nuclear Information System (INIS)

Wagner, John C.; Parks, Cecil V.; Mueller, Don; Gauld, Ian C.

2010-01-01

Taking credit for the reduction in reactivity associated with fuel depletion can enable more cost-effective, higher-density storage, transport, disposal, and reprocessing of spent nuclear fuel (SNF) while maintaining sufficient subcritical margin to establish an adequate safety basis. Consequently, there continues to be considerable interest in the United States (U.S.), as well as internationally, in the increased use of burnup credit in SNF operations, particularly related to storage, transport, and disposal of commercial SNF. This interest has motivated numerous technical studies related to the application of burnup credit, both domestically and internationally, as well as the design of SNF storage, transport and disposal systems that rely on burnup credit for maintaining subcriticality. Responding to industry requests and needs, the U.S. Nuclear Regulatory Commission (NRC) initiated a burnup credit research program in 1999, with support from the Oak Ridge National Laboratory (ORNL), to develop regulatory guidance and the supporting technical bases for allowing and expanding the use of burnup credit in pressurized-water reactor SNF storage and transport applications. Although this NRC research program has not been continuous since its inception, considerable progress has been achieved in many key areas in terms of increased understanding of relevant phenomena and issues, availability of relevant information and data, and subsequently updated regulatory guidance for expanded use of burnup credit. This paper reviews technical studies performed by ORNL for the U.S. NRC burnup credit research program. Examples of topics include reactivity effects associated with reactor operating characteristics, fuel assembly characteristics, burnable absorbers, control rods, spatial burnup distributions, cooling time, and assembly misloading; methods and data for validation of isotopic composition predictions; methods and data for validation of criticality calculations; and

26 CFR 20.2053-7 - Deduction for unpaid mortgages.

Science.gov (United States)

2010-04-01

... valuation method under section 2032 is selected. In any case where real property situated outside the United... amount of a mortgage upon, or of any other indebtedness in respect of, any property of the gross estate, including interest which had accrued thereon to the date of death, provided the value of the property...

24 CFR 200.54 - Project completion funding.

Science.gov (United States)

2010-04-01

... Endorsement Generally Applicable to Multifamily and Health Care Facility Mortgage Insurance Programs; and...-income housing tax credit syndication proceeds, historic tax credit syndication proceeds, or funds...

An economic evaluation of a storage system for casks with burnup credit

International Nuclear Information System (INIS)

Mimura, Masahiro; Tsuda, Kazuaki; Yamada, Nobuyuki; O-iwa, Akio.

1993-01-01

It is generally recognized that casks designed with burnup credit are more economical than those without burnup credit. To estimate how much more economical they are, we made conceptual designs of transport/storage casks with and without burnup credit for PWR and BWR fuels of various uranium enrichment. The casks were designed to contain the maximum number of fuel assemblies under the necessary weight and dimensional limitations as well as the criticality and shielding criteria. The results showed that approximately 8 % to 44 % more fuel assemblies could be contained in casks with burnup credit. We then evaluated the economy of cask storage system incorporating the cask designs obtained above both with and without burnup credit. The results showed that the cost of storing casks with burnup credit is approximately 7 % to 30 % less expensive than storing casks without burnup credit. (J.P.N.)

Validation issues for depletion and criticality analysis in burnup credit

International Nuclear Information System (INIS)

Parks, C.V.; Broadhead, B.L.; Dehart, M.D.; Gauld, I.C.

2001-01-01

This paper reviews validation issues associated with implementation of burnup credit in transport, dry storage, and disposal. The issues discussed are ones that have been identified by one or more constituents of the United States technical community (national laboratories, licensees, and regulators) that have been exploring the use of burnup credit. There is not necessarily agreement on the importance of the various issues, which sometimes is what creates the issue. The broad issues relate to the paucity of available experimental data (radiochemical assays and critical experiments) covering the full range and characteristics of spent nuclear fuel in away-from-reactor systems. The paper will also introduce recent efforts initiated at Oak Ridge National Laboratory (ORNL) to provide technical information that can help better assess the value of different experiments. The focus of the paper is on experience with validation issues related to use of burnup credit for transport and dry storage applications. (author)

24 CFR 221.795 - Displacement-below market interest rate mortgages.

Science.gov (United States)

2010-04-01

... Rights and Obligations-Moderate Income Projects § 221.795 Displacement—below market interest rate... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Displacement-below market interest rate mortgages. 221.795 Section 221.795 Housing and Urban Development Regulations Relating to Housing...

Credit-proofing fundamentals for a solid credit policy

Energy Technology Data Exchange (ETDEWEB)

Lydiatt, I. [KeySpan Energy Canada, Calgary, AB (Canada)

2003-07-01

This Power Point presentation presented the basics of a credit policy with reference to corporate objectives, governance, credit definitions, subjective/objective elements, quantification of full risk, management, monitoring, reporting and gate-keeping processes. Options for a credit policy were described as being approval authority grids, confidentiality issues, credit scoring, corporate risk levels, follow-up collection calling, and procedures on unapproved exposures. Recommendations for setting risk and credit limits were also presented with a note emphasizing that in the past 6 months credit evaluation processes have had to deal with the media risk, a new risk that has not been seen before. This risk can be addressed by careful monitoring of stock prices. The paper also presented recommendations for what to look for as indicators and how to deal with risk in volatile price periods. Credit tools for volatile times were described. 1 tab.

Credit-proofing fundamentals for a solid credit policy

International Nuclear Information System (INIS)

Lydiatt, I.

2003-01-01

This Power Point presentation presented the basics of a credit policy with reference to corporate objectives, governance, credit definitions, subjective/objective elements, quantification of full risk, management, monitoring, reporting and gate-keeping processes. Options for a credit policy were described as being approval authority grids, confidentiality issues, credit scoring, corporate risk levels, follow-up collection calling, and procedures on unapproved exposures. Recommendations for setting risk and credit limits were also presented with a note emphasizing that in the past 6 months credit evaluation processes have had to deal with the media risk, a new risk that has not been seen before. This risk can be addressed by careful monitoring of stock prices. The paper also presented recommendations for what to look for as indicators and how to deal with risk in volatile price periods. Credit tools for volatile times were described. 1 tab

49 CFR 375.221 - May I use a charge or credit card plan for payments?

Science.gov (United States)

2010-10-01

... 49 Transportation 5 2010-10-01 2010-10-01 false May I use a charge or credit card plan for... card plan for payments? (a) You may provide in your tariff for the acceptance of charge or credit cards for the payment of freight charges. Accepting charge or credit card payments is different than...

CreditCoin: A Privacy-Preserving Blockchain-Based Incentive Announcement Network for Communications of Smart Vehicles

KAUST Repository

Li, Lun

2018-01-23

The vehicular announcement network is one of the most promising utilities in the communications of smart vehicles and in the smart transportation systems. In general, there are two major issues in building an effective vehicular announcement network. First, it is difficult to forward reliable announcements without revealing users\\' identities. Second, users usually lack the motivation to forward announcements. In this paper, we endeavor to resolve these two issues through proposing an effective announcement network called CreditCoin, a novel privacy-preserving incentive announcement network based on Blockchain via an efficient anonymous vehicular announcement aggregation protocol. On the one hand, CreditCoin allows nondeterministic different signers (i.e., users) to generate the signatures and to send announcements anonymously in the nonfully trusted environment. On the other hand, with Blockchain, CreditCoin motivates users with incentives to share traffic information. In addition, transactions and account information in CreditCoin are tamper-resistant. CreditCoin also achieves conditional privacy since Trace manager in CreditCoin traces malicious users\\' identities in anonymous announcements with related transactions. CreditCoin thus is able to motivate users to forward announcements anonymously and reliably. Extensive experimental results show that CreditCoin is efficient and practical in simulations of smart transportation.

INFLUENCE OF MORTGAGE RATES PRICE FORMATION ON THE PRIMARY HOUSING MARKET

Directory of Open Access Journals (Sweden)

Nikolay I. Kornilov

2015-01-01

Full Text Available The article considers relationship of pricesin the primary market, depending on theregional origin and type of home, with thevalue of mortgage rates. Assesses thestrength of such a relationship and thepossible effects of changes in such rates.

The Impact of Financial Sophistication on Adjustable Rate Mortgage Ownership

Science.gov (United States)

Smith, Hyrum; Finke, Michael S.; Huston, Sandra J.

2011-01-01

The influence of a financial sophistication scale on adjustable-rate mortgage (ARM) borrowing is explored. Descriptive statistics and regression analysis using recent data from the Survey of Consumer Finances reveal that ARM borrowing is driven by both the least and most financially sophisticated households but for different reasons. Less…

75 FR 35030 - Home Mortgage Disclosure Act; Notice of Hearings

Science.gov (United States)

2010-06-21

..., ethnicity, sex, and annual income of the loan applicant; action taken on the loan application (approved... Required lenders to ask applicants their ethnicity, race, and sex in applications taken by telephone. In... requirements to the definition of ``higher-priced mortgage loan'' adopted by the Board under Regulation Z...

CLUB FORMATION MECHANISM FOR TRANSPORT-COMMUNITY CREDIT CARDS

Science.gov (United States)

Ding, Yue; Kobayashi, Kiyoshi; Nishida, Junji; Yoshida, Mamoru

In this paper, the roles of transport-community cards jointly issued by a public transport firm and retails are investigated as a means to vitalize an obsolescence shopping center located in a middle of a city. When both the price of goods supplied by the retails and the transport fares affect the consumers' behavior, there exist pecuniary externality between the behaviors of the retails and transport firms. The introduction of a transport-community cards system enables to integrate a basket of goods and transport service into a single commodity; thus, the pecuniary externality can be internalized by price coordination. In addition, the paper clarifies theoretically that the transport firm initiatively decides the price of the transportation service and the retails transfer their incomes to the transport firm so that they are induced to jointly issue the transport-community cards.

77 FR 52977 - Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market Risk Capital Rule

Science.gov (United States)

2012-08-30

...-weighted assets for residential mortgages, securitization exposures, and counterparty credit risk. The.... Risk-Weighted Assets--Proposed Modifications to the Advanced Approaches Rules A. Counterparty Credit... Margin Period of Risk 3. Changes to the Internal Models Methodology (IMM) 4. Credit Valuation Adjustments...

Credit assignment between body and object probed by an object transportation task.

Science.gov (United States)

Kong, Gaiqing; Zhou, Zhihao; Wang, Qining; Kording, Konrad; Wei, Kunlin

2017-10-17

It has been proposed that learning from movement errors involves a credit assignment problem: did I misestimate properties of the object or those of my body? For example, an overestimate of arm strength and an underestimate of the weight of a coffee cup can both lead to coffee spills. Though previous studies have found signs of simultaneous learning of the object and of the body during object manipulation, there is little behavioral evidence about their quantitative relation. Here we employed a novel weight-transportation task, in which participants lift the first cup filled with liquid while assessing their learning from errors. Specifically, we examined their transfer of learning when switching to a contralateral hand, the second identical cup, or switching both hands and cups. By comparing these transfer behaviors, we found that 25% of the learning was attributed to the object (simply because of the use of the same cup) and 58% of the learning was attributed to the body (simply because of the use of the same hand). The nervous system thus seems to partition the learning of object manipulation between the object and the body.

CO2 credit or energy credit in emission trading?

International Nuclear Information System (INIS)

Hu, E.

2002-01-01

Emission trading is a good concept and approach to tackle global warming. However, what ''currency'' or ''credit'' should be used in the trading has remained a debatable topic. This paper proposed an ''Energy Credit'' concept as an alternative to the ''CO 2 credit'' that is currently in place. From the thermodynamic point of view, the global warming problem is an ''energy balance'' problem. The energy credit concept is thought to be more thermodynamically correct and tackles the core of the global warming problem more directly. The Energy credit concept proposed can be defined as: the credit to offset the extra energy trapped/absorbed in the earth (and its atmosphere) due to the extra anthropogenic emission (or other activities) by a country or company. A couple of examples are given in the paper to demonstrate the concept of the Energy credit and its advantages over the CO 2 credit concept. (author)

Carrington Real Estate Services, LLC and Carrington Mortgage Services, LLC Information Sheet

Science.gov (United States)

Carrington Real Estate Services, LLC and Carrington Mortgage Services, LLC (the Company) is located in Anaheim, California. The settlement involves the sale of properties constructed prior to 1978, located in Bakersfield and Ridgecrest, California.

Radiometric characterisation supports, burnup credit, safeguards and radionuclide inventory determination for spent fuel transport, storage and disposal

International Nuclear Information System (INIS)

Chesterman, A.S.; Clapham, M.J.; Gardner, N.

1999-01-01

Spent nuclear fuel characterisation measurements play an essential role in a range of fuel handling activities. In particular, they are necessary to support the application of burnup credit to the transport of spent fuel, to detect diversion of safeguarded nuclear material and to determine the radionuclide inventory of materials destined for final disposal. To apply measurements to these activities the measurement procedures need to be approved by the relevant regulatory bodies. Often key to the measurement procedures is the method of instrument system calibration and what a priori data is acceptable to aid the measurement process. Discussion of these, pertinent to the three areas of application mentioned above, is presented with suggestions of alternative approaches where considered appropriate. (author)

Analýza procesů správy hypotéčních úvěrů ve společnosti GE Money bank a.s.

OpenAIRE

Andrlová, Jaroslava

2013-01-01

The subject of my dissertation is a process analysis of administration of Mortgage credit in G.E. Money bank Plc. The purpose of analysis is an improvement of selected process inside company. The theoretical part is dedicate to process analysis and corporate decision making process modeling.The practical part has two sections introduction of G.E Money bank Plc.basic description of Mortgage credit phases. The main part of my dissertation is a process analysis in G.E Money bank Plc. The analysi...

12 CFR 652.50 - Definitions.

Science.gov (United States)

2010-01-01

... Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FEDERAL AGRICULTURAL MORTGAGE CORPORATION FUNDING AND FISCAL AFFAIRS Risk-Based Capital Requirements § 652.50 Definitions. For purposes of this subpart... the Farm Credit Administration. Regulatory capital means the sum of the following as determined in...

The U.S Subprime Mortgage Crisis: An analysis of Rating Transitions and The Role of Credit Rating Agencies

OpenAIRE

Sethi, Rahul

2008-01-01

The ongoing credit crisis has virtually engulfed all the biggest financial markets in the world and an end to this turmoil seems very far off at this moment in time. But it is very essential to understand the root cause of this crisis, which began in mid-2007 in the United States of America due to the collapse of the housing market. This paper starts with the factors leading to the crisis and focuses on one of the key players in this whole fiasco that played a very pivotal role in the orig...

Getting sick and falling behind: health and the risk of mortgage default and home foreclosure.

Science.gov (United States)

Houle, Jason N; Keene, Danya E

2015-04-01

An emerging literature shows that mortgage strain can lead to poor health outcomes, but less work has focused on whether and how health shocks influence mortgage distress. We examine the link between changes in health status and default/foreclosure risk among older middle-aged adults. We used National Longitudinal Study of Youth 1979 data and multivariate logistic regression models to examine the relationship between changes in health limitations and chronic conditions across survey waves and risk of mortgage default and foreclosure. We found that changes in health limitations and chronic conditions increased the risk of default and foreclosure between 2007 and 2010. These associations were partially mediated by changes in family income and loss of health insurance. From a policy perspective, the strong link between the onset of illness and foreclosure suggests a need to re-examine the safety-nets that are available to individuals who become ill or disabled. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

Bank Valuation and Its Connections with the Subprime Mortgage Crisis and Basel II Capital Accord

Directory of Open Access Journals (Sweden)

C. H. Fouche

2008-01-01

Full Text Available The ongoing subprime mortgage crisis (SMC and implementation of Basel II Capital Accord regulation have resulted in issues related to bank valuation and profitability becoming more topical. Profit is a major indicator of financial crises for households, companies, and financial institutions. An SMC-related example of this is the U.S. bank, Wachovia Corp., which reported major losses in the first quarter of 2007 and eventually was bought by Citigroup in September 2008. A first objective of this paper is to value a bank subject to Basel II based on premiums for market, credit, and operational risk. In this case, we investigate the discrete-time dynamics of banking assets, capital, and profit when loan losses and macroeconomic conditions are explicitly considered. These models enable us to formulate an optimal bank valuation problem subject to cash flow, loan demand, financing, and balance sheet constraints. The main achievement of this paper is bank value maximization via optimal choices of loan rate and supply which leads to maximal deposits, provisions for deposit withdrawals, and bank profitability. The aforementioned loan rates and capital provide connections with the SMC. Finally, OECD data confirms that loan loss provisioning and profitability are strongly correlated with the business cycle.

OPG's approach of crediting natural circulation in outage heat sinks

International Nuclear Information System (INIS)

Fung, K.K.; Mackinnon, J.C.

2001-01-01

A review of crediting natural circulation as a backup means of removing the reactor core decay heat during an outage in Ontario Power Generation's nuclear stations was completed in 2000. The objective was to define the configurations and conditions under which natural circulation can be confidently credited as an effective heat transport mechanism for use in shutdown heat sink management. The project was an interdisciplinary program, and involved analyses in the areas of heat transport system thermalhydaulics, fuel and fuel channel thermal and mechanical behaviour, radiation physics, and probabilistic risks. The assessment shows that it is economically acceptable to credit natural circulation as a backup means of removing the core decay heat whenever the no fuel failure criteria are met. The economic risks associated with such a potential use decrease with time after shutdown. The waiting times after shutdown when there would be various levels of risks of damaging the pressure tubes and fuel bundles were derived for use in planning maintenance activities so as to minimize the economic risks. (author)

75 FR 41875 - Technical Processing Requirements for Multifamily Project Mortgage Insurance

Science.gov (United States)

2010-07-19

... is used to determine if key principals are acceptable and have the ability to manage the development... principals are acceptable and have the ability to manage the development, construction, completion, and... Requirements for Multifamily Project Mortgage Insurance AGENCY: Office of the Chief Information Officer, HUD...

78 FR 6621 - Ability To Repay Standards Under the Truth in Lending Act (Regulation Z)

Science.gov (United States)

2013-01-30

... increase the cost of credit for those who do, thereby impacting the availability of credit for these at... mortgage delinquencies and foreclosure rates increased dramatically, caused in part by the gradual...

Ameliorating Local Impacts with Architectural Research: Subprime Mortgages & Housing Quality

Directory of Open Access Journals (Sweden)

Lynne M. Dearborn

2012-10-01

Full Text Available Shock waves from the current housing crisis that still echo through Wall Street’s largest financial firms, not only have threatened to topple financial markets and drive the country into a depression, but have also undermined the all-time high home ownership rate in the United States. The most attention-grabbing dimensions and headlines of the current crisis seem to be the staggering losses incurred by the likes of Bear Sterns and Citigroup, and the demise of some of the large corporations such as Washington Mutual. However, the real crisis is not on Wall Street or in the banking sector, but in low- and moderate-income and minority homes and neighborhoods throughout the country. At least ten years before the present subprime foreclosure crisis became mainstream news, these marginalized communities were feeling the negative effects of mortgage fraud and predatory lending practices occurring with regularity in the subprime market. This paper discusses an ongoing study of Subprime Lending, Mortgage Fraud and Housing Quality in process since 2002. This four-part study has employed foreclosure data with statistical and mapping analysis, detailed interviews with victims of predatory lending, systematic documentation of the resulting housing environments, and documentation of property improvements in light of victims’ legal settlements. While subprime lending has supported the expansion of homeownership in the United States, this on-going study suggests that this expansion has sometimes been at the expense of safe, code-compliant living environments forlow-income, minority and elderly homeowners. Some of the victims of predatory lending and mortgage fraud have sought legal redress through the courts but many have suffered personal financial, health, emotional, and family crises as well. The current broad-scale discussion of the topic has given attention to the lack of regulation facilitating these unethical practices, but it is unclear that current

Asset Depletion, Chronic Financial Stress, and Mortgage Trouble Among Older Female Homeowners.

Science.gov (United States)

Castro Baker, Amy; West, Stacia; Wood, Anna

2017-09-08

The Great Recession disproportionately impacted older adults and women of color, suggesting that women may be entering retirement without adequate assets. However, the current literature lacks a detailed account of women's experiences of mortgage trouble and foreclosure, as well as a longitudinal view of how these experiences impacted their overall financial assets. Grounded in cumulative inequality theory, this mixed methods study employed a QUAL→quan approach to gather qualitative data from a sample of 21 older adult women regarding their experiences of mortgage trouble. Quantitative longitudinal data was gathered for a subsample of the Early Baby Boomer Cohort using the Health and Retirement Study. Qualitative findings indicated women approaching retirement experienced chronic underemployment, wage stagnation, and financial volatility as contributors to asset depletion and eventual mortgage default or foreclosure. Quantitative results indicated asset depletion both during and post-Recession was considerably more pronounced among older adult women of color compared to older adult White men. These findings suggest that a lifetime of financial disadvantage coupled with macroeconomic instability situates older adult women, particularly women of color, in a financially vulnerable position for retirement. The ways in which 2017 attacks on the Consumer Financial Protection Bureau, Dodd-Frank, and the Fiduciary rule carry potential to further destabilize this population are also discussed. © The Author 2017. Published by Oxford University Press on behalf of The Gerontological Society of America. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

Proceedings of a workshop on the use of burnup credit in spent fuel transport casks

International Nuclear Information System (INIS)

Sanders, T.L.

1989-10-01

The Department of Energy sponsored a workshop on the use of burnup credit in the criticality design of spent fuel shipping casks on February 21 and 22, 1988. Twenty-five different presentations on many related topics were conducted, including the effects of burnup credit on the design and operation of spent fuel storage pools, casks and modules, and shipping casks; analysis and physics issues related to burnup credit; regulatory issues and criticality safety; economic incentives and risks associated with burnup credit; and methods for verifying spent fuel characteristics. An abbreviated version of the DOE workshop was repeated as a special session at the November 1988 American Nuclear Society Meeting in Washington, DC. Each of the invited speakers prepared detailed papers on his or her respective topic. The individual papers have been cataloged separately

76 FR 38463 - SAFE Mortgage Licensing Act: Minimum Licensing Standards and Oversight Responsibilities

Science.gov (United States)

2011-06-30

... housing laws that address the dramatic rise in mortgage delinquencies and foreclosures in the residential... regarding the status and employment history of all state-licensed and federally loan originators, as well as...

26 CFR 1.6050H-1 - Information reporting of mortgage interest received in a trade or business from an individual.

Science.gov (United States)

2010-04-01

... of record. A payor of record on a mortgage is the person carried on the books and records of the interest recipient as the principal borrower on the mortgage. If the books and records of the interest... from the payor of record is secured by the payor of record's principal residence. An intention by the...

Review of Research on Credit Risk Management for Rural Credit Cooperatives

Directory of Open Access Journals (Sweden)

Xin Song

2017-03-01

Full Text Available With the rapid development of rural micro-credit, whether the qagriculture, rural areas and farmersq problems have been effectively solved, whether the credit risk has been effectively controlled, these have become the focus of our attention to the rural economic environment. The main content of this paper contains four aspects: the classification and characteristics of credit risk, the problems and factors of credit risk, the model and evaluation of credit risk, the countermeasures and suggestions of credit risk. This paper reviews the research of credit risk management for rural credit cooperatives from the above four aspects, and makes a brief summary.

A two-factor, stochastic programming model of Danish mortgage-backed securities

DEFF Research Database (Denmark)

Nielsen, Søren S.; Poulsen, Rolf

2004-01-01

-trivial, both in terms of deciding on an initial mortgage, and in terms of managing (rebalancing) it optimally.We propose a two-factor, arbitrage-free interest-rate model, calibrated to observable security prices, and implement on top of it a multi-stage, stochastic optimization program with the purpose...

24 CFR 242.23 - Maximum mortgage amounts and cash equity requirements.

Science.gov (United States)

2010-04-01

... addition to the value of plant, property, and equipment and other values recognized as loan security in the commitment process. Exercise of this discretion shall never cause a loan to exceed 90 percent of estimated... COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL...

Contagion of us subprime mortgage crisis to Colombian economy: measured by financial market data

Directory of Open Access Journals (Sweden)

Chu V. Nguyen

2011-06-01

Full Text Available The long-horizon event study methodology is used to document the severe impact of the US subprime mortgage crisis on the Colombian economy. The estimated parameter of a constantmean return model is used to derive the “abnormal return” on the market portfolios of Colombia over its selected event window. Analyses of the results reveal that the US subprime mortgage crisis negatively affected both the Colombian and the US equity markets almost identically in terms of cumulative percentage reductions and timing. Statistic testing results seem to support the qualitative observation. This phenomenon can be attributable to the recent multilateral and regional trade agreements that increase the flow of trade and foreign direct investment to Colombia.

Dåser uden pant: Cans without a mortgage

OpenAIRE

Rostrup, Emil; Mouritzen, Jeppe; Wagner, Sara; Skovlund, Kristian; Rein, Jakob; Engholm, Simon

2013-01-01

This research aims to investigate the possibility of changing people’s recycle behaviour, with a focus on cans without a mortgage, through a design. In order to investigate this possibility, a needs assessment was carried out, where the specific demands of waste plants, consumers, retail trade and environment were taken into consideration. The demands of the waste plants as well as the demand of the retail trade were found by collecting empiricism from various websites. The needs of the consu...

24 CFR 213.252 - Definitions.

Science.gov (United States)

2010-04-01

... indicated. (a) Contract of Insurance means the agreement evidenced by endorsement of the credit instrument... been insured by the endorsement of the credit instrument by the Commissioner. (c) Mortgage means such a... is located, together with the credit instrument or instruments, if any, secured thereby. In any...

76 FR 11164 - Removing References to Credit Ratings in Regulations; Proposing Alternatives to the Use of Credit...

Science.gov (United States)

2011-03-01

... the FCU Act, 12 U.S.C. 1757(15)(C), and its cross reference to the definition of small business security in the Exchange Act. As with the definition of ``mortgage related security,'' discussed above, the...

24 CFR 235.1218 - Additional eligibility requirements.

Science.gov (United States)

2010-04-01

...; Direct Endorsement § 235.1218 Additional eligibility requirements. (a) Mortgage amount. It must be in an... par on one of the following dates, whichever rate is higher: (i) The date the Direct Endorsement mortgagee's underwriter signs the Mortgage Credit Analysis Worksheet (form HUD-92900 WS); or (ii) The date...

Are carbon credits effective?

International Nuclear Information System (INIS)

Anon.

2010-01-01

Is it possible to reduce greenhouse gas emissions by assigning a value to CO 2 ? That's the concept behind carbon credits. Their advantage: they set targets but let companies decide how to meet them. Of all the processes that can be used to reduce air pollution, the cap and trade system is the best way to meet global targets on a national or continental scale. The system's efficiency is based on setting a ceiling for emissions: this is the cap. The emissions quotas are negotiable goods that can be traded on a market: this is the 'trade'. No company can exceed its quotas, but it can choose how to meet them: decreasing its emissions by changing its production processes, buying carbon credits sold by companies that have exceeded their targets, or using clean development mechanisms. For a carbon credit system to function correctly on an economic level, it's essential to meet one condition: don't allocate too many emissions quotas to the companies involved. If they receive too many quotas, it's not hard for them to meet their objectives without changing their production processes. The supply of carbon credits currently exceeds demand. The price per ton of CO 2 is collapsing, and companies that have exceeded their targets are not rewarded for their efforts. Efficient though it may be, the cap and trade system cannot be the only way to fight CO 2 emissions. In Europe, it presently covers 40% of the CO 2 emissions by targeting utilities and industries that consume the most fossil fuels. But it cannot be extended to some sectors where pollution is diffuse. In transportation, for example, it's not possible to impose such a requirement. For that sector, as well as for the building sector, a suitable system of taxes might be effective and incentive

Credit concession through credit scoring: Analysis and application proposal

Directory of Open Access Journals (Sweden)

Oriol Amat

2017-01-01

Full Text Available Purpose: The study herein develops and tests a credit scoring model which can help financial institutions in assessing credit requests.  Design/methodology/approach: The empirical study has the objective of answering two questions: (1 Which ratios better discriminate the companies based on their being solvent or insolvent? and (2 What is the relative importance of these ratios? To do this, several statistical techniques with a multifactorial focus have been used (Multivariate Analysis of Variance, Linear Discriminant Analysis, Logit and Probit Models. Several samples of companies have been used in order to obtain and to test the model.  Findings: Through the application of several statistical techniques, the credit scoring model has been proved to be effective in discriminating between good and bad creditors.  Research limitations:  This study focuses on manufacturing, commercial and services companies of all sizes in Spain; Therefore, the conclusions may differ for other geographical locations. Practical implications:  Because credit is one of the main drivers of growth, a solid credit scoring model can help financial institutions assessing to whom to grant credit and to whom not to grant credit. Social implications: Because of the growing importance of credit for our society and the fear of granting it due to the latest financial turmoil, a solid credit scoring model can strengthen the trust toward the financial institutions assessment’s.  Originality/value: There is already a stream of literature related to credit scoring. However, this paper focuses on Spanish firms and proves the results of our model based on real data. The application of the model to detect the probability of default in loans is original.

Burnup credit effect on proposed cask payloads

International Nuclear Information System (INIS)

Hall, I.K.

1989-01-01

The purpose of the Cask Systems Development Program (CSDP) is to develop a variety of cask systems which will allow safe and economical movement of commercial spent nuclear fuel and high-level waste from the generator to the Federal repository or Monitored Retrievable Storage (MRS) facility. Program schedule objectives for the initial phase of the CSDP include the development of certified spent fuel cask systems by 1995 to support Office of Civilian Radioactive Waste Management shipments from the utilities beginning in the late 1990s. Forty-nine proposals for developing a family of spent fuel casks were received and comparisons made. General conclusions that can be drawn from the comparisons are that (1) the new generation of casks will have substantially increased payloads in comparison to current casks, and (2) an even greater payload increase may be achievable with burnup credit. The ranges in the payload estimates do not allow a precise separation of the payload increase attributable to the proposed allowance of fuel burnup credit, as compared wilt the no-burnup-credit case. The beneficial effects of cask payload increases on overall costs and risks of transporting spent fuel are significant; therefore further work aimed toward taking advantage of burnup credit is warranted

Formation of the investment mechanism in the agrarian sphere of the region

Directory of Open Access Journals (Sweden)

Valentina Arkad'evna Li

2011-12-01

Full Text Available This paper reviews investment activity in the agrarian sector of economy of the Russian Federation during the period after overcoming the sharp phase of world financial crisis. Estimation is given to the factors constraining further improvement and development of branches of agriculture, first of all — investment activity. The question of possibility of the account of the earth as resource of mortgaging maintenance in system of crediting of agriculture is revealed. The urgency of creation of Land bank is proved; preconditions for formation of the third link of banking system are defined: a specialized financially-credit institution (mortgage, investment, ground banks with a regulation and supervision particular treatment. Measures regarding a solution of a financial maintenance problem and agriculture crediting are offered. To raise efficiency of crediting of agrarian sector, means of development of institutes of crediting of bank system taking into account post crisis factors are suggested.

76 FR 16570 - Interest Rate Risk

Science.gov (United States)

2011-03-24

... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 741 RIN 3133-AD66 Interest Rate Risk AGENCY... regulations to require Federally insured credit unions to have a written policy addressing interest rate risk... Risk Management for Credit Unions with Large Positions in Fixed Rate Mortgages; 06-CU-16 Inter-Agency...

Credit Monitoring – a Core of Credit Risk Management: Theory and Experience

Directory of Open Access Journals (Sweden)

Daiva Jurevičienė

2013-11-01

Full Text Available Purpose of the article: Purpose of the article is to identify credit monitoring as a keystone of credit risk management in banks. CRM is widely discussed in scientific literature and in reports of institutions undertaking credit risk or supervisory bodies. However majority of such investigations are based on implementation of numerous quantitative or qualitative methods used for credit risk assessment before granting a loan or for credit portfolio risk management. There is a lack of information or investigations made on estimation of the need of credit monitoring in credit risk management process. Scientific aim: Scientific aim is to structure the early warning signs that reflect the condition of credits. Methodology/methods: The paper is based on analysis and resumption of various scientific and professional articles related to organization of credit process in banks. It combines results of assessments of credit monitoring importance in credit risk management process made by theoretical studies as well as investigation of experts. Findings: Finding of the article is presentation of credit monitoring tools that should be applied for corporate (and individual clients via modification of original credit agreement. Conclusions: (limits, implications etc Conclusion of the article is that credit monitoring is a keystone in credit risk management process. The purpose of credit monitoring is to detect in time possible worsening of the loan and to react (make changes in loan agreement. The simplest tool for credit monitoring is to identify early warning signs in time that could be assorted into four groups: EWS of business environment; EWS with regard to management, EWS regarding collateral, EWS in financial analysis. Limitation of investigation is impossibility of evaluation of importance of monitoring process in practice except investigation of experts (employees directly responsible for credit business.

NCA & Credit Guarantees

African Journals Online (AJOL)

stooppn

purposes of the National Credit Act; what the definition of a credit guarantee set out ...... Scholtz et al National Credit Act in para 8.2.4; Scott et al Law of Commerce ..... Eitelberg E "Autonomy of Documentary Credit Undertakings in South African.

On a class of adjustable rate mortgage loans subject to a strict balance principle

DEFF Research Database (Denmark)

Astrup Jensen, Bjarne

We describe the background and the basic funding mechanisms for the type of adjustable rate mortgageloans that were introduced in the Danish market in 1996. Each loan is funded separately by tap issuingpass-through mortgage bonds (`strict balance principle'). The novelty is a funding mechanism...... that usesa roll-over strategy, where long term loans are funded by sequentially issuing short term pass-throughbonds, and the first issuer of these loans obtained a patent on the funding principles in 1999. Publiclyavailable descriptions of the principles leave an impression of very complicated numerical...... algorithms.The algorithms described here show that the essentials can be reduced to a `back of an envelope' complexity.Keywords: Adjustable rate mortgages, balance principle, patent, yield curve riding...

The Psychology and Economics of Reverse Mortgage Attitudes : Evidence from the Netherlands

NARCIS (Netherlands)

Dillingh, W.F.; Prast, Henriette; Rossi, M.; Urzi Brancati, C.

2015-01-01

We find that among Dutch homeowners there is substantial potential interest in reverse mortgages, especially for the purpose of being able to live more comfortably and not worry about money until death, or to make a significant expenditure— on e.g. home improvements or traveling. Our regression

Formal and Informal Credit Markets and Rural Credit Demand in China

OpenAIRE

Tang, Sai; Guan, Zhengfei; Jin, Songqing

2010-01-01

Credit markets are an essential economic institution. In developing countries, particularly in countries undergoing rapid social and economic transition, it is important to identify emerging credit demand and institute credit supply in a timely manner to facilitate economic transformation. This research focuses on the evolving rural credit market in China, where borrowing from the social network has been common but the recent economic transition has made this informal credit market inadequate...

12 CFR 652.70 - Risk-based capital level.

Science.gov (United States)

2010-01-01

... risk-based capital level is the sum of the following amounts: (a) Credit and interest rate risk. The... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Risk-based capital level. 652.70 Section 652.70 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FEDERAL AGRICULTURAL MORTGAGE...

Isotopic validation for PWR actinide-only burnup credit using Yankee Rowe data

International Nuclear Information System (INIS)

1997-11-01

Safety analyses of criticality control systems for transportation packages include an assumption that the spent nuclear fuel (SNF) loaded into the package is fresh or unirradiated. In other words, the spent fuel is assumed to have its original, as-manufactured U-235 isotopic content. The ''fresh fuel'' assumption is very conservative since the potential reactivity of the nuclear fuel is substantially reduced after being irradiated in the reactor core. The concept of taking credit for this reduction in nuclear fuel reactivity due to burnup of the fuel, instead of using the fresh fuel assumption in the criticality safety analysis, is referred to as ''Burnup Credit.'' Burnup credit uses the actual physical composition of the fuel and accounts for the net reduction of fissile material and the buildup of neutron absorbers in the fuel as it is irradiated. Neutron absorbers include actinides and other isotopes generated as a result of the fission process. Using only the change in actinide isotopes in the burnup credit criticality analysis is referred to as ''Actinide-Only Burnup Credit.'' The use of burnup credit in the design of criticality control systems enables more spent fuel to be placed in a package. Increased package capacity results in a reduced number of storage, shipping and disposal containers for a given number of SNF assemblies. Fewer shipments result in a lower risk of accidents associated with the handling and transportation of spent fuel, thus reducing both radiological and nonradiological risk to the public. This paper describes the modeling and the results of comparison between measured and calculated isotopic inventories for a selected number of samples taken from a Yankee Rowe spent fuel assembly

A survey of previous and current industry-wide efforts regarding burnup credit

International Nuclear Information System (INIS)

Jones, R.H.

1989-01-01

Sandia has examined the matter of burnup credit from the perspective of physics, logistics, risk, and economics. A limited survey of the nuclear industry has been conducted to get a feeling for the actual application of burnup credit. Based on this survey, it can be concluded that the suppliers of spent fuel storage and transport casks are in general agreement that burnup credit offers the potential for improvements in cask efficiency without increasing the risk of accidental criticality. The actual improvement is design-specific but limited applications have demonstrated that capacity increases in the neighborhood of 20 percent are not unrealistic. A number of these vendors acknowledge that burnup credit has not been reduced to practice in cask applications and suggest that operational considerations may be more important to regulatory acceptance than to the physics. Nevertheless, the importance of burnup credit to the nuclear industry as a cask design and analysis tool has been confirmed by this survey

Purchasing complex services on the Internet; An analysis of mortgage loan acquisitions

NARCIS (Netherlands)

B.L.K. Vroomen (Björn); A.C.D. Donkers (Bas); P.C. Verhoef (Peter); Ph.H.B.F. Franses (Philip Hans)

2003-01-01

textabstractIn contrast to, for example, books and compact discs, the number of complex services offered on the Internet is still small. A good example of such a service concerns mortgage loans. The decision-making process differs for complex services in that they have an extra intermediate step of

77 FR 57317 - 2012 Truth in Lending Act (Regulation Z) Mortgage Servicing

Science.gov (United States)

2012-09-17

... servicers under a variety of business models. In some cases, creditors service mortgage loans that they... disbursement, and cross-marketing other products and services to borrowers. Under this business model...), available at: http://digital.law.washington.edu/dspace-law/bitstream/handle/1773.1/1074/86WLR755.pdf . These...

Conservatism in the actinide-only burnup credit for PWR spent nuclear fuel packages

International Nuclear Information System (INIS)

Lancaster, D.B.; Rahimi, M.; Thornton, J.

1996-01-01

In May 1995, the U.S. Department of Energy (DOE) submitted a topical report to the U.S. Nuclear Regulatory Commission (NRC) to gain actinide-only burnup credit for spent nuclear fuel (SNF) storage, transportation, or disposal packages. After approval of this topical report, DOE intends further submittals to the NRC to acquire additional burnup credit (e.g., the topical does not use fission products and is limited to only the first 100 yr of disposal). The NRC has responded to the topical with its preliminary questions. To aid in evaluation of the method, a review of the conservatism in the actinide-only burnup credit methodology was performed. An overview of the actinide-only burnup credit methodology is presented followed by a summary of the conservatism

Refundable Tax Credits

OpenAIRE

Congressional Budget Office

2013-01-01

In 1975, the first refundable tax credit—the earned income tax credit (EITC)—took effect. Since then, the number and cost of refundable tax credits—credits that can result in net payments from the government—have grown considerably. Those credits will cost $149 billion in 2013, CBO estimates, mostly for the EITC and the child tax credit.

Burnup credit implementation plan and preparation work at JAERI

International Nuclear Information System (INIS)

Nomura, Y.; Itahara, K.

2001-01-01

Application of the burnup credit concept is considered to be very effective to the design of spent fuel transport and storage facilities. This technology is all the more important when considering construction of the intermediate spent fuel storage facility, which is to be commissioned by 2010 due to increasing amount of accumulated spent fuel in Japan. Until reprocessing and recycling all the spent fuel arising, they will be stored as an energy stockpile until such time as they can be reprocessed. On the other hand, the burnup credit has been partly taken into account for the spent fuel management at Rokkasho Reprocessing Plant, which is to be commissioned in 2005. They have just finished the calibration tests for their burnup monitor with initially accepted several spent fuel assemblies. Because this monitoring system is employed with highly conservative safety margin, it is considered necessary to develop the more rational and simplified method to confirm burnup of spent fuel. A research program has been instituted to improve the present method employed at the spent fuel management system for the Spent Fuel Receiving and Storage Pool of Rokkasho Reprocessing Plant. This program is jointly performed by Japan Nuclear Fuel Limited (JNFL) and JAERI.This presentation describes the current status of spent fuel accumulation discharged from PWR and BWR in Japan and the recent incentive to introduce burnup credit into design of spent fuel storage and transport facilities. This also includes the content of the joint research program initiated by JNFL and JAERI. The relevant study has been continued at JAERI. The results by these research programs will be included in the Burnup Credit Guide Original Version compiled by JAERI. (author)

PROSPECTS OF MORTGAGE ARE IN UKRAINE IN THE CONTEXT OF REFORMATION OF THE TAXATION OF PROPERTY: ESTIMATION OF RISKS

Directory of Open Access Journals (Sweden)

L. Hudzynska

2014-12-01

Full Text Available This article explores the possible risks of taxation introduction of real estate owned by the people, for the system of bank mortgage lending in Ukraine. The current state of the mortgage market in Ukraine is reviewed. The influence of the Institute property taxation in general increase of the fiscal burden on citizens is investigated. A possible state in the contingents of households in terms of pay, including in the investment sphere is reviewed. Approaches of model property taxation, which is owned by citizens, are suggested. Proposed not to tax property (household used by a person as a primary residence. This approach is seen as prevention for loss of real estate that is used as the basis of residence by citizens, in case of loss of solvency over objective, independent reasons, and as a tool to ensure the proper fulfillment of obligations by mortgage according to real contracts.

The impact of concentration and regulation on competition in the Dutch mortgage market

NARCIS (Netherlands)

Mulder, Machiel

2014-01-01

This article investigates the effects of industry structure and regulatory pricing constraints on competition in the Dutch mortgage market during the global financial crisis that began in 2008. This highly concentrated market became even more concentrated following the financial crisis, when some

75 FR 17976 - WNC Tax Credits 38, LLC, WNC Tax Credits 39, LLC, WNC Housing Tax Credits Manager, LLC and WNC...

Science.gov (United States)

2010-04-08

... Credits 38, LLC, WNC Tax Credits 39, LLC, WNC Housing Tax Credits Manager, LLC and WNC & Associates, Inc... collectively, the ``Funds''), WNC Housing Tax Credits Manager, LLC (the ``Manager'') and WNC & Associates, Inc... credit under the Internal Revenue Code of 1986, as amended. The Manager is a California limited liability...

Introduction of Credit Derivatives and Valuation of Credit Default Swap

OpenAIRE

Han, Lu

2006-01-01

The credit derivative market was established at the beginning of the 1990s since the emergence of credit derivatives fits the rapid development of the whole derivatives market. However, compare to other derivative market, this market is still small and incomplete. As with other derivatives, credit derivatives can be used to either take more risk or hedge it, hence various credit derivatives instruments are accepted and widely used by market participants such as banks, insurance companies, etc...

26 CFR 301.7701(i)-1 - Definition of a taxable mortgage pool.

Science.gov (United States)

2010-04-01

... pool of real estate mortgages from escaping Federal income taxation when the pool is used to issue... other third party agrees to make advances (regardless of whether, under the terms of the agreement, the payor is obligated, or merely permitted, to make those advances). An agreement by a debt servicer to...

TIAA's Commercial Mortgage and Real Estate Investments: The Case for Financial Disclosure.

Science.gov (United States)

Garrigan, Richard T.; Jones, Thomas W.

1992-01-01

The Teachers Insurance and Annuities Association (TIAA) is criticized for inadequate financial disclosure of its mortgage and real estate investments, especially in the current market. A TIAA vice president responds that the company has not been remiss in reporting changes to its constituents and outlines its present financial status. (MSE)

24 CFR 203.437 - Mortgages involving a dwelling unit in a cooperative housing development.

Science.gov (United States)

2010-04-01

... Corporate Certificate Transfer Book that such book currently shows that the Secretary is the owner of the... mortgage has announced an intention to foreclose. [42 FR 40432, Aug. 10, 1977; 42 FR 57435, Nov. 2, 1977...

78 FR 26711 - Federal Agricultural Mortgage Corporation Funding and Fiscal Affairs; Farmer Mac Liquidity...

Science.gov (United States)

2013-05-08

... Funding and Fiscal Affairs; Farmer Mac Liquidity Management ACTION: Proposed rule; reopening of comment... proposed rule that would amend its liquidity management regulations for the Federal Agricultural Mortgage... comment on the proposed liquidity regulations. [[Page 26712

78 FR 36562 - 30-Day Notice of Proposed Information Collection: Home Equity Conversion Mortgage (HECM...

Science.gov (United States)

2013-06-18

... with hearing or speech impairments may access this number through TTY by calling the toll-free Federal... analysis, underwriting analysis, and collection of mortgage insurance premiums for loans that meet...

Credit securitization and credit derivatives: Financial instruments and the credit risk management of middle market commercial loan portfolios

OpenAIRE

Henke, Sabine; Burghof, Hans-Peter; Rudolph, Bernd

1998-01-01

Banks increasingly recognize the need to measure and manage the credit risk of their loans on a portfolio basis. We address the subportfolio "middle market". Due to their specific lending policy for this market segment it is an important task for banks to systematically identify regional and industrial credit concentrations and reduce the detected concentrations through diversification. In recent years, the development of markets for credit securitization and credit derivatives has provided n...

Modernization of credit relations

Directory of Open Access Journals (Sweden)

S.V. Volosovich

2015-03-01

Full Text Available Nowadays it is essential to modernize credit relations in the conditions of global economy transformations. This is due to the influence of integration processes on credit relations and transformation of the risks inherent in the credit field. The purpose of this article is to develop measures that help to improve the efficiency of interaction of credit relations’ participants. Modernization of credit relations is based on the interaction of its main and indirect subjects who belong to the subsystems of loans granting, deposits attraction and provision of related services. Its goal is to pass from extensive to intensive model of interaction between the subjects of credit relations. Components of the credit relations modernization are the following: institutional modernization, which is based on the interaction of credit relations’ subjects, and ensures the development of competition in all credit market’s segments, the creation of its corresponding infrastructure, qualitative change in the approaches of regulation and supervision; technological modernization, which involves the formation of joint products on the credit market and the formation of an integrated informational and analytical system. In the result of the credit relations’ modernization it is expected to achieve synergies between the subjects of credit relations, that will lead to changes in the business architecture of the financial market.

Consultative selling in financial services : An observational study of the mortgage mediation process

NARCIS (Netherlands)

Verhallen, Theo M.m.; Greve, Harriette; Frambach, Ruud Th

1997-01-01

Notes that the literature on personal selling and advising on services stresses the importance of analysing the actual client-adviser interaction process. Explores this process of interaction in a mortgage setting by observing 42 conversations between advisers and 26 clients. The exact content and

Credit Card Security

OpenAIRE

G.C., Anup

2013-01-01

Author: Anup G.C. Year: 2013 Subject of thesis: Credit Card Security Number of pages: 36+2 Credit Card is a widely used electronic chip for easy transactions. The main purpose of the report was to show the security measures of transaction by credit cards. The purpose was to give information about credit cards and how they were introduced. The thesis reportcontained the types of card theft with examples and sited the various protocols used for online ...

76 FR 40946 - WNC Tax Credits 40, LLC, WNC Tax Credits 41, LLC, WNC Housing Tax Credits Manager 2, LLC, WNC...

Science.gov (United States)

2011-07-12

... Credits 40, LLC, WNC Tax Credits 41, LLC, WNC Housing Tax Credits Manager 2, LLC, WNC National Partners... (``Fund 41'') (each a ``Fund,'' and collectively, the ``Funds''), WNC Housing Tax Credits Manager 2, LLC (the ``Manager''), WNC National Partners, LLC (``WNC National Partners'') and WNC & Associates, Inc...

Joint replenishment and credit policies under two levels of trade credit financing when demand and bad-debt loss depends upon credit period

Directory of Open Access Journals (Sweden)

Aggarawal K.K.

2016-01-01

Full Text Available In practice, a firm usually receives trade credit financing from its supplier on the purchase of inventory. Similarly, in order to meet competition and generate credit sales over and above cash sales, the firm also gives credit period to their customers. However, the decision of granting credit period may have a disintegrating effect on cash sales apart from generating new credit sales because some of the cash customers may switch to credit purchase. In addition, despite of the best credit granting policies and collection practices, the firm may incurs some amount of bad debt losses because a certain fraction of buyers will undoubtedly be unable to pay off their debt obligations and become bad debt loss to the firm. In this paper, using discounted cash flow (DCF approach, a mathematical model is developed to jointly determine optimal inventory and credit policies under two levels of trade credit financing when demand and bad-debt losses are dependent on credit period. The objective of the model is to maximize the present value of firm’s net profit per unit time by jointly optimizing the replenishment interval and date-terms credit period. Numerical examples and sensitivity analysis are presented to illustrate the effectiveness of the proposed model, and the results are discussed.

12 CFR 621.13 - Content and standards-general rules.

Science.gov (United States)

2010-01-01

... Section 621.13 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM ACCOUNTING AND REPORTING REQUIREMENTS Report of Condition and Performance § 621.13 Content and standards—general rules. Each institution, including the Federal Agricultural Mortgage Corporation, shall prepare reports of condition and performance...

12 CFR 325.5 - Miscellaneous.

Science.gov (United States)

2010-01-01

... the ability of the FDIC or a similar regulatory authority to take any necessary action to resolve a... practices. (f) Treatment of mortgage servicing assets, purchased credit card relationships, nonmortgage servicing assets, and credit-enhancing interest-only strips. For purposes of determining Tier 1 capital...

12 CFR 650.45 - Priority of claims.

Science.gov (United States)

2010-01-01

... and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FEDERAL AGRICULTURAL MORTGAGE CORPORATION... distribution of the assets of the Corporation in liquidation: (a) All costs, expenses, and debts incurred by... assessments for the costs of supervising and examining the Corporation, and any amounts borrowed pursuant to...

12 CFR 621.1 - Purpose and applicability.

Science.gov (United States)

2010-01-01

... Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM ACCOUNTING AND REPORTING REQUIREMENTS Purpose and Definitions § 621.1 Purpose and applicability. This part sets forth accounting and reporting... Mortgage Corporation. The requirements set forth in this part are of both general and specific...

Rural Credit in Vietnam

DEFF Research Database (Denmark)

Barslund, Mikkel Christoffer; Tarp, Finn

This paper uses a survey of 932 rural households to uncover how the rural credit market operates in four provinces of Vietnam. Households obtain credit through formal and informal lenders, but formal loans are almost entirely for production and asset accumulation. Interest rates fell from 1997...... to 2002, reflecting increased market integration; but the determinants of formal and informal credit demand are distinct. Credit rationing depends on education and credit history, but we find no evidence of a bias against women. Regional differences are striking, and a ‘one size fits all’ approach...... to credit policy is clearly inappropriate....

24 CFR 203.29 - Eligible mortgages in Alaska, Guam, Hawaii, or the Virgin Islands.

Science.gov (United States)

2010-04-01

... construct dwellings without sacrificing sound standards of construction, design or livability, the party may submit documentation in support of an alternative mortgage limit. This documentation should include actual or estimated costs of such items as design, construction, materials, and labor. In addition...

78 FR 45945 - 60-Day Notice of Proposed Information Collection: Contractor's Requisition-Project Mortgages

Science.gov (United States)

2013-07-30

... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5687-N-34] 60-Day Notice of Proposed Information Collection: Contractor's Requisition--Project Mortgages AGENCY: Office of the Assistant Secretary... Section A. A. Overview of Information Collection Title of Information Collection: Contractor's Requisition...

Burnup credit feasibility for BWR spent fuel shipments

International Nuclear Information System (INIS)

Broadhead, B.L.

1990-01-01

Considerable interest in the allowance of reactivity credit for the exposure history of power reactor fuel currently exists. This ''burnup credit'' issue has the potential to greatly reduce risk and cost when applied to the design and certification of spent of fuel casks used for transportation and storage. Analyses 1 have shown the feasibility estimated the risk and economic incentives for allowing burnup credit in pressurized water reactor (PWR) spent fuel shipping cask applications. This paper summarizes the extension of the previous PWR feasibility assessments to boiling water reactor (BWR) fuel. As with the PWR analysis, the purpose was not verification of burnup credit (see ref. 2 for ongoing work in this area) but a reasonable assessment of the feasibility and potential gains from its use in BWR applications. This feasibility analysis aims to apply simple methods that adequately characterize the time-dependent isotopic compositions of typical BWR fuel. An initial analysis objective was to identify a simple and reliable method for characterizing BWR spent fuel. The method includes characterization of a typical pin-cell spectrum, using a one-dimensional (1-D) model of a BWR assembly. The calculated spectrum allows burnup-dependent few-group material constants to be generated. Point depletion methods were then used to obtain the time-varying characteristics of the fuel. These simple methods were validated, where practical, with multidimensional methods. 6 refs., 1 tab

Mortgage lending and house prices in Albania - a co-integrated analysis based on VECM

Directory of Open Access Journals (Sweden)

Erjona REBI

2014-06-01

Full Text Available The general view that the banks’ lending plays a crucial role in the real estate market was again confirmed during the recent financial crisis. During the precrisis period, house prices in Albania increased rapidly, supported also by a fast expansion of mortgage lending. This study aims to empirically analyse the relation between housing prices and banks’ financing in the long run, referring to a VECM model. The estimated results confirm the important role of mortgage to house prices. Meanwhile, the relation between house prices and interest rates resulted statistically insignificant. Unlike the previous literature, exchange rate has been included as an endogenous variable. Results show positive correlation and statistical significance between house prices and exchange rate. Finally, this paper is expected to contribute to the literature as there are very few studies that elaborate on the macroeconomic factors’ influence on the housing prices in Albania.

State Mortgage Foreclosure Policies and Lender Interventions: Impacts on Borrower Behavior in Default

Science.gov (United States)

Collins, J. Michael; Lam, Ken; Herbert, Christopher E.

2011-01-01

Due to the rise in foreclosure filings, policymakers are increasingly concerned with helping families in financial distress keep their homes. This paper tests the extent to which distressed mortgage borrowers benefit from three types of state foreclosure polices: (1) judicial foreclosure proceedings, (2) statutory rights of redemption, and (3)…

75 FR 50801 - Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks

Science.gov (United States)

2010-08-17

... recommended in this guidance when advertising reverse mortgages through certain forms of media, such as radio... organization commenter urged that loan originators should ensure that brokers do not advertise reverse... borrower was 73 years old, had a home valued at $261,500, and had financial assets of less than $33,000...

76 FR 78483 - S.A.F.E. Mortgage Licensing Act (Regulations G & H)

Science.gov (United States)

2011-12-19

... BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Part 1007 and 1008 [Docket No. CFPB-2011-0023] RIN 3170-AA06 S.A.F.E. Mortgage Licensing Act (Regulations G & H) AGENCY: Bureau of Consumer Financial... number of consumer financial protection laws from seven Federal agencies to the Bureau of Consumer...

Credit Participation and Credit Source Selection of Vietnam Small and Medium Enterprises

Directory of Open Access Journals (Sweden)

Nguyen Anh Hoang

2014-10-01

Full Text Available This study is an attempt to investigate the motivation behind the decision to participate in the credit market of SMEs from perspectives of behavioral finance and social capital theories. In addi- tion, the study also examines the effect of behavioral finance and social capital factors on the credit source selection among SMEs. This study’s design strategy involves conducting questionnaire sur- veys to SMEs owners and statistical techniques to analyze the determinants of credit participation and credit source selection of borrowers. The findings showed that personal traits of SMEs owners/ managers in terms of behavioral finance factors such as debt and risk attitudes, present biased and overconfidence and firms networking also have impacts on the firms’ credit participation and credit source selection. The research is one of the few studies that consider the influence of behavioral finance factors on firms financing decision. Furthermore, our result also contributes to explain the common use of informal credit market in developing countries.

Credit Risk Research

DEFF Research Database (Denmark)

Zamore, Stephen; Ohene Djan, Kwame; Alon, Ilan

2018-01-01

This article provides a comprehensive review of scholarly research on credit risk measurement during the last 57 years applying bibliometric citation analysis and elaborates an agenda for future research. The bibliography is compiled using the Institute for Scientific Information (ISI) Web...... of Science (WOS) database and includes all articles with citations over the period 1960–2016. Specifically, the review is carried out using 1695 articles across 72 countries published in 442 journals by 2928 authors. The findings suggest that credit risk research is multifaceted and can be classified...... into six streams: (1) defaultable security pricing, (2) default intensity modeling, (3) comparative analysis of credit models, (4) comparative analysis of credit markets, (5) credit default swap (CDS) pricing, and (6) loan loss provisions. The article contributes through synthesizing and identifying...

77 FR 57199 - 2012 Real Estate Settlement Procedures Act (Regulation X) Mortgage Servicing Proposal

Science.gov (United States)

2012-09-17

... servicers under a variety of business models. In some cases, creditors service mortgage loans that they... business model, servicers act primarily as payment collectors and processors, and provide minimal customer... (2011) (Thompson), available at http://digital.law.washington.edu/dspace-law/bitstream/handle/1773.1...

78 FR 41339 - Federal Housing Administration (FHA) Multifamily Mortgage Insurance; Capturing Excess Claim Proceeds

Science.gov (United States)

2013-07-10

... mortgage insurance eligibility requirements and contract rights and obligations can be found at 24 CFR part... contract rights and obligations of mortgagees participating in FHA multifamily insurance programs and using...: Proposed rule. SUMMARY: This proposed rule would amend HUD's regulations covering the contract rights and...

Burnup verification tests with the FORK measurement system-implementation for burnup credit

International Nuclear Information System (INIS)

Ewing, R.I.

1994-01-01

Verification measurements may be used to help ensure nuclear criticality safety when burnup credit is applied to spent fuel transport and storage systems. The FORK system measures the passive neutron and gamma-ray emission from spent fuel assemblies while in the storage pool. It was designed at Los Alamos National Laboratory for the International Atomic Energy Agency safeguards program and is well suited to verify burnup and cooling time records at commercial Pressurized Water Reactor (PWR) sites. This report deals with the application of the FORK system to burnup credit operations

Credit: A Teaching Unit.

Science.gov (United States)

Clanton, Brandolyn; And Others

Intended for teachers of secondary school students, five lessons on consumer credit are presented. In the first lesson students identify and evaluate sources of credit, compare some of the costs and benefits of credit, and learn to apply criteria used in evaluating applications for credit. In the second lesson, students learn about two basic types…

Comparison of analysis methods for burnup credit applications

International Nuclear Information System (INIS)

Sanders, T.L.; Brady, M.C.; Renier, J.P.; Parks, C.V.

1989-01-01

The current approach used for the development and certification of spent fuel storage and transport casks requires an assumption of fresh fuel isotopics in the criticality safety analysis. However, it has been shown that there is a considerable reactivity reduction when the isotopics representative of the depleted (or burned) fuel are used in a criticality analysis. Thus, by taking credit for the burned state of the fuel (i.e., burnup credit), a cask designer could achieve a significant increase in payload. Accurate prediction of k eff for spent fuel arrays depends both on the criticality safety analysis and the prediction of the spent fuel isotopics via a depletion analysis. Spent fuel isotopics can be obtained from detailed multidimensional reactor analyses, e.g. the code PDQ, or from point reactor burnup models. These reactor calculations will help verify the adequacy of the isotopics and determine Δk eff biases for various analysis assumptions (with and without fission products, actinide absorbers, burnable poison rods, etc.). New software developed to interface PDQ multidimensional isotopics with KENO V.a reactor and cask models is described. Analyses similar to those performed for the reactor cases are carried out with a representative burnup credit cask model using the North Anna fuel. This paper presents the analysis methodology that has been developed for evaluating the physics issues associated with burnup credit. It is applicable in the validation and characterization of fuel isotopics as well as in determining the influence of various analysis assumptions in terms of δk eff . The methodology is used in the calculation of reactor restart criticals and analysis of a typical burnup credit cask

Housing policy and the granting of mortgage loans in the city of Cúcuta

Directory of Open Access Journals (Sweden)

Jhon Antuny Pabón-León

2017-02-01

Full Text Available This reflection article focuses on housing policy and the granting of mortgage loans in the city of Cúcuta from promulgation of housing policy. It is a descriptive study of quantitative approach, non-experimental, transectional supported in document review addressing three thematic areas: housing policies of the Government, the housing market and housing finance. The House today on day one of the problems that most affect society due among other factors to the growth of cities and next to it is tenure and housing needs. The crisis of housing in Colombia has been one of the most crippling economic problems in recent years and as a result new instruments are designed to provide effective access to housing and care for the potential beneficiaries. Thus arises the concern about what was the impact on the allocation of mortgage loans in the city of Cúcuta from promulgation of housing policy? It is concluded that although opinions differ on the effectiveness of housing policy clearly program presented a positive balance in the city of Cúcuta.

The impact of credit risk assessment on credit activity of commercial banks

Directory of Open Access Journals (Sweden)

Ljubić Marijana

2015-01-01

Full Text Available As banks have great social responsibility and are a subject to a specific and extensive regulations, one of the being Basel, the authors of this paper focus on the impact of credit risk assessment on credit activity of commercial banks. The authors of this paper provide a standard for risk management and an insight into directions on how to manage credit risk in the most efficient way and how to assess credit rating of a borrower.

Credit derivatives in emerging markets

OpenAIRE

Romain Rancière

2002-01-01

Credit Derivatives are securities that offer protection against credit or default risk of bonds or loans. The credit derivatives emerging market has grown rapidly and credit derivatives are widely used. This paper describes the emerging credit derivatives market structure. The current market activity is analyzed through elementary pricing dynamics and the study of the term structure of default risk. Focusing on the performance of credit derivatives in stress situation, including legal and mar...

The influence of sovereign credit ratings on corporate credit ratings.

OpenAIRE

Umutoni, Liliane

2017-01-01

Credit ratings have a key role in modern financial markets as they communicate crucial information on the creditworthiness of a debt issuer to investors and regulators. These credit ratings are mostly determined by three rating agencies, namely Standard & Poor’s, Moody’s and Fitch, even though, the credit rating industry counts a dozen of recognized rating agencies. Indeed, the three agencies have become the market leaders with a market share of 94.3% on the U.S market (Bloomberg, 2015) and 9...

Fission product margin in burnup credit analyses

International Nuclear Information System (INIS)

Finck, P.J.; Stenberg, C.G.

1998-01-01

The US Department of Energy (DOE) is currently working toward the licensing of a methodology for using actinide-only burnup credit for the transportation of spent nuclear fuel (SNF). Important margins are built into this methodology. By using comparisons with a representative experimental database to determine bias factors, the methodology ensures that actinide concentrations and worths are estimated conservatively; furthermore, the negative net reactivity of certain actinides and all fission products (FPs) is not taken into account, thus providing additional margin. A future step of DOE's effort might aim at establishing an actinide and FP burnup credit methodology. The objective of this work is to establish the uncertainty to be applied to the total FP worth in SNF. This will serve two ends. First, it will support the current actinide-only methodology by demonstrating the margin available from FPs. Second, it will identify the major contributions to the uncertainty and help set priorities for future work

Credit risk management in banks

OpenAIRE

Pětníková, Tereza

2014-01-01

The subject of this diploma thesis is managing credit risk in banks, as the most significant risk faced by banks. The aim of this work is to define the basic techniques, tools and methods that are used by banks to manage credit risk. The first part of this work focuses on defining these procedures and describes the entire process of credit risk management, from the definition of credit risk, describing credit strategy and policy, organizational structure, defining the most used credit risk mi...

Sex of respondent and credit attitudes as predictors of credit card use and debt payment.

Science.gov (United States)

McCall, Michael; Eckrich, Donald W

2006-06-01

Researchers have suggested there may be sex differences in attitudes towards credit card possession and use. Undergraduates, 41 men and 41 women, completed a survey regarding their attitudes towards credit, credit card use, and repayment. Analysis indicated sex played a significant moderating role between number of credit cards used and the importance of paying off monthly balances. Women possessed more credit cards than men and engaged in more frequent shopping. Number of credit cards increased with paying off of monthly balances. Data are discussed in terms of the importance of managing credit card debt in an increasingly cashless society.

Consumer Handbook to Credit Protection Laws.

Science.gov (United States)

Board of Governors of the Federal Reserve System, Washington, DC.

The five sections of this consumer handbook are The Cost of Credit, Applying for Credit, Credit Histories and Records, Correcting Credit Mistakes, and Complaining about Credit. Each section discusses relevant legislation: Truth in Lending, the Equal Credit Opportunity Act, and the Fair Credit Reporting Act. Topics discussed in section I include…

MANAGEMENT OF CREDIT LOSSES

Directory of Open Access Journals (Sweden)

Natalya P. Anoshkina

2018-06-01

Full Text Available The paper is devoted to the problem of credit loss management topical for modern Russian science and banking practice. The bank’s lending activity is an integral and the most profitable sphere of banking activity. Banks need to take credit risks inherent in their core business and minimize their impact through the establishment of advanced risk management systems. The study, reflected in the present paper, has been conducted in order to determine approaches to the organization of credit loss management in banking. Analysis of the system of management of credit risks and credit losses has shown that they have different scope, object and purpose. In this connection, there is an objective necessity to create a special subsystem for the management of credit losses in banks. On the basis of common bank approaches to credit risk management, the paper develops models of credit loss management: a multi-level management model in the area of ‘operational-tactical-strategic management’ and a functional management model in the area of ‘technology-execution-control’. These models are important for the modern theory and practice of banking, as they allow the bank to manage credit losses on the entire time horizon of the management process, thus opening a wide range of opportunities for the creation and implementation of large-scale programs, as well as specific techniques. This study allows drawing a conclusion about the need to consider control credit losses as a strictly regulated multi-level process, in which each division is assigned with specific objectives, tasks, functions, formally enshrined in the relevant lists, job descriptions and other legal documents.

Non-conventional fuel tax credit

International Nuclear Information System (INIS)

Soeoet, P.M.

1988-01-01

Coal-seam methane, along with certain other non-conventional fuels, is eligible for a tax credit. This production tax credit allowed coal-seam methane producers to receive $0.7526 per million Btu of gas sold during 1986. In 1987, this credit rose to $0.78 per million Btu. The tax credit is a very significant element of the economic analysis of current coal-seam methane projects. In today's spot market, gas prices are around $1.50 per million Btu. Allowing for costs of production, the gas producer will net more income from the tax credit than from the sale of the gas. The Crude Oil Windfall Profit Tax Act of 1980 is the source of this tax credit. There were some minor changes made by subsequent legislation, but most of the tax credit has remained intact. Wells must be drilled by 1990 to qualify for the tax credit but the production from such wells is eligible for the tax credit until 2001. Projections have been made, showing that the tax credit should increase to $0.91 per million Btu for production in 1990 and $1.34 per million Btu in 2000. Variables which may decrease the tax credit from these projections are dramatically lower oil prices or general economic price deflation

Credit Management System

Data.gov (United States)

US Agency for International Development — Credit Management System. Outsourced Internet-based application. CMS stores and processes data related to USAID credit programs. The system provides information...

78 FR 10901 - Mortgage Servicing Rules Under the Truth in Lending Act (Regulation Z)

Science.gov (United States)

2013-02-14

... who's actually going to be punished by the mortgage fraud settlement, Bloomberg News, February 10... Unsound Foreclosure Practices (Apr. 13, 2011), available at http://www.occ.gov/news-issuances/news...), available at http://www.occ.treas.gov/news-issuances/news-releases/2011/nr-occ-2011-47.html . \\30\\ See Fed...

MMM Fuchs HUIDIGE REGSONTWIKKELING TEN AANSIEN VAN ...

African Journals Online (AJOL)

fuchsmm

consider the impact of the recent global economic downturn (the so-called 'credit crunch'), brought on by a subprime mortgage crisis and leading to an ... have devastating effects. Therefore, responsible lending and borrowing is crucial .... It permits court proceedings if 10 business days have passed 'since the credit provider ...

Credit Union Headquarters

Data.gov (United States)

Department of Homeland Security — The National Credit Union Administration (NCUA) is the independent federal agency that charters and supervises federal credit unions. NCUA, backed of the full faith...

Parametric neutronic analyses related to burnup credit cask design

International Nuclear Information System (INIS)

Parks, C.V.

1989-01-01

The consideration of spent fuel histories (burnup credit) in the design of spent fuel shipping casks will result in cost savings and public risk benefits in the overall fuel transportation system. The purpose of this paper is to describe the depletion and criticality analyses performed in conjunction with and supplemental to the referenced analysis. Specifically, the objectives are to indicate trends in spent fuel isotopic composition with burnup and decay time; provide spent fuel pin lattice values as a function of burnup, decay time, and initial enrichment; demonstrate the variation of k eff for infinite arrays of spent fuel assemblies separated by generic cask basket designs (borated and unborated) of varying thicknesses; and verify the potential cask reactivity margin available with burnup credit via analysis with generic cask models

12 CFR 347.105 - Permissible financial activities outside the United States.

Science.gov (United States)

2010-01-01

.... (2) Financing, including commercial financing, consumer financing, mortgage banking, and factoring... and credit health insurance. (6) Performing services for other direct or indirect operations of a...

An Investigation into the Fundamental Drivers of Pricing of Residential Mortgage Products – A Risk Pricing Viewpoint

Directory of Open Access Journals (Sweden)

Harry M Karamujic

2010-12-01

Full Text Available Residential mortgage products (also known as home loans pricing has been long understood to be something of a ‘dark art’, requiring judgment and experience, rather than being an exact science. In the last decade, a lot has changed in this field and more and more lenders, primarily the larger lenders, are increasingly looking to make their pricing as exact as possible. Even so, inadequate pricing of residential mortgage products (in particular its substandard risk pricing has been seen as one of major causes of the global financial crisis (GFC and subsequent spectacular banking collapses. The underlying theme of the paper is to exhibit how contemporary lenders, in practice, price their residential mortgage products. While discussing elements of the pricing calculation particular attention was given to the exposition of how contemporary lenders price risks involved in providing home loans. Because of the importance of Basel capital accords to how financial institutions assess and quantify their risks, the paper provides an overview of Basel capital accords. The author envisages that the paper will (i help enhance comprehension of the underlying elements of the pricing calculation and the ways in which these elements relate to each other, (ii scrutinize how contemporary lenders identify and quantify risks and (iii improve consciousness of future changes in interest rates

Advances in automated valuation modeling AVM after the non-agency mortgage crisis

CERN Document Server

Kauko, Tom

2017-01-01

This book addresses several problems related to automated valuation methodologies (AVM). Following the non-agency mortgage crisis, it offers a variety of approaches to improve the efficiency and quality of an automated valuation methodology (AVM) dealing with emerging problems and different contexts. Spatial issue, evolution of AVM standards, multilevel models, fuzzy and rough set applications and quantitative methods to define comparables are just some of the topics discussed.

Evaluation of burnup credit for accommodating PWR spent nuclear fuel in high-capacity cask designs

International Nuclear Information System (INIS)

Wagner, John C.

2003-01-01

This paper presents an evaluation of the amount of burnup credit needed for high-density casks to transport the current U.S. inventory of commercial spent nuclear fuel (SNF) assemblies. A prototypic 32-assembly cask and the current regulatory guidance were used as bases for this evaluation. By comparing actual pressurized-water-reactor (PWR) discharge data (i.e., fuel burnup and initial enrichment specifications for fuel assemblies discharged from U.S. PWRs) with actinide-only-based loading curves, this evaluation finds that additional negative reactivity (through either increased credit for fuel burnup or cask design/utilization modifications) is necessary to accommodate the majority of SNF assemblies in high-capacity storage and transportation casks. The impact of varying selected calculational assumptions is also investigated, and considerable improvement in effectiveness is shown with the inclusion of the principal fission products (FPs) and minor actinides and the use of a bounding best-estimate approach for isotopic validation. Given sufficient data for validation, the most significant component that would improve accuracy, and subsequently enhance the utilization of burnup credit, is the inclusion of FPs. (author)

Credit risk transfer

OpenAIRE

Bank for International Settlements

2003-01-01

Executive summary Techniques for transferring credit risk, such as financial guarantees and credit insurance, have been a long-standing feature of financial markets. In the past few years, however, the range of credit risk transfer (CRT) instruments and the circumstances in which they are used have widened considerably. A number of factors have contributed to this growth, including: greater focus by banks and other financial institutions on risk management; a more rigorous approach to risk/re...

Dynamic Virtual Credit Card Numbers

Science.gov (United States)

Molloy, Ian; Li, Jiangtao; Li, Ninghui

Theft of stored credit card information is an increasing threat to e-commerce. We propose a dynamic virtual credit card number scheme that reduces the damage caused by stolen credit card numbers. A user can use an existing credit card account to generate multiple virtual credit card numbers that are either usable for a single transaction or are tied with a particular merchant. We call the scheme dynamic because the virtual credit card numbers can be generated without online contact with the credit card issuers. These numbers can be processed without changing any of the infrastructure currently in place; the only changes will be at the end points, namely, the card users and the card issuers. We analyze the security requirements for dynamic virtual credit card numbers, discuss the design space, propose a scheme using HMAC, and prove its security under the assumption the underlying function is a PRF.

Congressional Influence as a Determinant of Subprime Lending

OpenAIRE

Stuart A. Gabriel; Matthew E. Kahn; Ryan K. Vaughn

2013-01-01

We apply unique loan level data from New Century Financial Corporation, a major subprime lender, to assess whether attributes of Congressional Representatives were associated with access to and pricing of subprime mortgage credit. Research findings indicate higher likelihoods of subprime loan origination and lower mortgage pricing among borrowers represented by the Republican and Democratic leadership of Congress. Black borrowers also benefitted from significantly larger loan amounts in those...

Informed and Uninformed Investment in Housing: The Downside of Diversification

OpenAIRE

Elena Loutskina; Philip E. Strahan

2011-01-01

Mortgage lenders that concentrate in a few markets invest more in information collection than diversified lenders. Concentrated lenders focus on the information-intensive jumbo market and on high-risk borrowers. They are better positioned to price risks and, thus, ration credit less. Adverse selection, however, leads to higher retention of mortgages relative to diversified lenders. Finally, concentrated lenders have higher profits than diversified lenders, their profits vary less systematical...

Burnup credit study and application in spent fuel management in China

International Nuclear Information System (INIS)

Ruan Keqiang; Xue Xiaogang; Shen Leisheng

2001-01-01

This paper gives a brief of spent fuel situation of nuclear power plants in China, problems faced with, and measures to be taken. The main research items in this field in next five years are introduced. It is imperative to put burnup credit to use in spent fuel storage, transport and reprocessing. (author)

12 CFR 561.12 - Consumer credit.

Science.gov (United States)

2010-01-01

...; loans in the nature of overdraft protection; and credit extended in connection with credit cards. ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Consumer credit. 561.12 Section 561.12 Banks... AFFECTING ALL SAVINGS ASSOCIATIONS § 561.12 Consumer credit. The term consumer credit means credit extended...

THE CREDIT AND CREDIT RISK MANAGEMENT DURING THE CRISIS

Directory of Open Access Journals (Sweden)

Chitan Gheorghe

2012-03-01

Full Text Available Considering the importance of credit risk management to ensure the financial system stability,the paper presents financial and real sector interaction highlighting that credit growth based on increase of creditdemand, of income, of assets prices, of currency availability, the interest rate differential between countries andrelaxation of regulatory framework, leaves banks more vulnerable to subsequent downturn in economic activity andasset prices. It also outlines the steps taken or those I think that should be implemented in terms of improving creditrisk management, implementation of regulatory measures to limit credit expansion, enforcing the regulatoryrequirements for covering the expected and unexpected losses, introduction of new surveillance tools aimed to leadto a more resilient financial system.

Determinants of SME credit worthiness under Basel rules: the value of credit history information

Directory of Open Access Journals (Sweden)

Francesco Dainelli

2013-03-01

Full Text Available The Basel III Accord has reportedly had an impact on SME financing. In this paper, we aim to highlight the determinants of SME credit worthiness. We use credit history in addition to financial ratios and “hybrid” indicators that have been built by mixing credit history with financial statement data. We develop a failure prediction logit model on 187 Italian SMEs. The use of short-term credit lines is the most important variable. Contrary to common understanding, capitalization levels do not affect ratings. Lastly, credit worthiness is sensitive to sale profitability.

Day-to-Day Market Power and Efficiency in Tradable Mobility Credits

Directory of Open Access Journals (Sweden)

Ye Tian

2015-09-01

Full Text Available An active transportation and demand management framework focusing on tradable mobility credits (TMC is integrated into an agent-based modeling and simulation (ABMS platform. In this framework, it is conceived that an auction market within which mobility credits can be transferred between buyers and sellers is constructed in general. The idea of ABMS is extensively incorporated to mimic system users’ daily route choices as well as market-related micro-economical decision making process under TMC circumstance. Users are able to form individual propensities towards available bid/ask choices by reinforcement learning principles. The integrated platform offers a brand new insight view of microscopic aspect of the daily operations of credit transfer market, which has hardly been obtained by prior analytical models. Day-to-day traffic dynamics and market dynamics can be captured. Besides, market MOEs, including convergence, stability, efficiency and relative market powers of buyers and sellers under different market policies are investigated.

12 CFR 966.3 - Leverage limit and credit rating requirements.

Science.gov (United States)

2010-01-01

... times the total of paid-in capital stock, retained earnings, and reserves (excluding loss reserves and..., retained earnings, and reserves of that Bank, provided that non-mortgage assets, after deducting the amount...

Credit Card Quiz.

Science.gov (United States)

Marks, Jeff

2000-01-01

Describes an activity in which students design credit cards and discover for themselves the mathematical realities of buying on credit. Employs multiple-intelligence theory to increase the chance that all students will be reached. (YDS)

Credit derivatives and risk management

OpenAIRE

Michael S. Gibson

2007-01-01

The striking growth of credit derivatives suggests that market participants find them to be useful tools for risk management. I illustrate the value of credit derivatives with three examples. A commercial bank can use credit derivatives to manage the risk of its loan portfolio. An investment bank can use credit derivatives to manage the risks it incurs when underwriting securities. An investor, such as an insurance company, asset manager, or hedge fund, can use credit derivatives to align its...

Latinos in the Credit Economy

OpenAIRE

Ralph, Lisa M.

2010-01-01

Access to consumer credit as a means of building wealth is one of the least examined forms of social inequality. The recent economic crisis in the United States has brought attention to the significance of consumer credit in our nation's economy; however, less understood are the specific obstacles and barriers that prevent low-income individuals from reaching the "American Dream." In an exploratory manner, this study compared credit access, credit literacy, and credit experience of low-income...

Quality of urban forest carbon credits

Science.gov (United States)

Neelam C. Poudyala; Jacek P. Siry; J.M. Bowker

2011-01-01

While the urban forest is considered an eligible source of carbon offset credits, little is known about its market potential and the quality aspects of the credits. As credit suppliers increase in number and credit buyers become more interested in purchasing carbon credits, it is unclear whether and how urban forest carbon credits can perform relative to the other...

Boundedly rational credit cycles

OpenAIRE

Sáez, María

1996-01-01

We propose an evolutionary model of a credit market. We show that the economy exhibits credit cycles. The model predicts dynamics which are consistent with some evidence about the Great Depression. Real shocks trigger episodes of credit--crunch which are observed in the process of adjustment towards the post shock equilibrium.

Statistical credit risk assessment model of small and very small enterprises for Lithuanian credit unions

OpenAIRE

Špicas, Renatas

2017-01-01

While functioning in accordance with the new, business and efficiency-oriented operating model, credit unions develop and begin functioning outside the community. It is universally recognised in scientific literature that as credit unions expand their activities beyond a community, social relations with credit union members weaken and the credit unions lose their social control element, which help them to better assess and manage information asymmetry and credit risk. So far, the analysis of ...

Comment on Geoengineering with seagrasses: is credit due where credit is given?

Science.gov (United States)

Oreska, Matthew P. J.; McGlathery, Karen J.; Emmer, Igino M.; Needelman, Brian A.; Emmett-Mattox, Stephen; Crooks, Stephen; Megonigal, J. Patrick; Myers, Doug

2018-03-01

In their recent review, ‘Geoengineering with seagrasses: is credit due where credit is given?,’ Johannessen and Macdonald (2016) invoke the prospect of carbon offset-credit over-allocation by the Verified Carbon Standard as a pretense for their concerns about published seagrass carbon burial rate and global stock estimates. Johannessen and Macdonald (2016) suggest that projects seeking offset-credits under the Verified Carbon Standard methodology VM0033: Methodology for Tidal Wetland and Seagrass Restoration will overestimate long-term (100 yr) sediment organic carbon (SOC) storage because issues affecting carbon burial rates bias storage estimates. These issues warrant serious consideration by the seagrass research community; however, VM0033 does not refer to seagrass SOC ‘burial rates’ or ‘storage.’ Projects seeking credits under VM0033 must document greenhouse gas emission reductions over time, relative to a baseline scenario, in order to receive credits. Projects must also monitor changes in carbon pools, including SOC, to confirm that observed benefits are maintained over time. However, VM0033 allows projects to conservatively underestimate project benefits by citing default values for specific accounting parameters, including CO2 emissions reductions. We therefore acknowledge that carbon crediting methodologies such as VM0033 are sensitive to the quality of the seagrass literature, particularly when permitted default factors are based in part on seagrass burial rates. Literature-derived values should be evaluated based on the concerns raised by Johannessen and Macdonald (2016), but these issues should not lead to credit over-allocation in practice, provided VM0033 is rigorously followed. These issues may, however, affect the feasibility of particular seagrass offset projects.

26 CFR 1.163-11T - Allocation of certain prepaid qualified mortgage insurance premiums (temporary).

Science.gov (United States)

2010-04-01

... insurance premiums (temporary). 1.163-11T Section 1.163-11T Internal Revenue INTERNAL REVENUE SERVICE... insurance premiums (temporary). (a) Allocation—(1) In general. As provided in section 163(h)(3)(E), premiums... section applies whether the qualified mortgage insurance premiums are paid in cash or are financed...

Models of Credit Risk Measurement

OpenAIRE

Hagiu Alina

2011-01-01

Credit risk is defined as that risk of financial loss caused by failure by the counterparty. According to statistics, for financial institutions, credit risk is much important than market risk, reduced diversification of the credit risk is the main cause of bank failures. Just recently, the banking industry began to measure credit risk in the context of a portfolio along with the development of risk management started with models value at risk (VAR). Once measured, credit risk can be diversif...

24 CFR 206.131 - Contract rights and obligations for mortgages on individual dwelling units in a condominium.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Contract rights and obligations for... MORTGAGE INSURANCE Contract Rights and Obligations Condominiums § 206.131 Contract rights and obligations...] Termination of Insurance Contract ...

Technical Data to Justify Full Burnup Credit in Criticality Safety Licensing Analysis

Energy Technology Data Exchange (ETDEWEB)

Enercon Services, Inc.

2011-03-14

Enercon Services, Inc. (ENERCON) was requested under Task Order No.2 to identify scientific and technical data needed to benchmark and justify Full Burnup Credit, which adds 16 fission products and 4 minor actinides1 to Actinide-Only burnup credit. The historical perspective for Full Burnup Credit is discussed, and interviews of organizations participating in burnup credit activities are summarized as a basis for identifying additional data needs and making recommendation. Input from burnup credit participants representing two segments of the commercial nuclear industry is provided. First, the Electric Power Research Institute (EPRI) has been very active in the development of Full Burnup Credit, representing the interests of nuclear utilities in achieving capacity gains for storage and transport casks. EPRI and its utility customers are interested in a swift resolution of the validation issues that are delaying the implementation of Full Burnup Credit [EPRI 2010b]. Second, used nuclear fuel storage and transportation Cask Vendors favor improving burnup credit beyond Actinide-Only burnup credit, although their discussion of specific burnup credit achievements and data needs was limited citing business sensitive and technical proprietary concerns. While Cask Vendor proprietary items are not specifically identified in this report, the needs of all nuclear industry participants are reflected in the conclusions and recommendations of this report. In addition, Oak Ridge National Laboratory (ORNL) and Sandia National Laboratory (SNL) were interviewed for their input into additional data needs to achieve Full Burnup Credit. ORNL was very open to discussions of Full Burnup Credit, with several telecoms and a visit by ENERCON to ORNL. For many years, ORNL has provided extensive support to the NRC regarding burnup credit in all of its forms. Discussions with ORNL focused on potential resolutions to the validation issues for the use of fission products. SNL was helpful in

Technical Data to Justify Full Burnup Credit in Criticality Safety Licensing Analysis

International Nuclear Information System (INIS)

2011-01-01

Enercon Services, Inc. (ENERCON) was requested under Task Order No.2 to identify scientific and technical data needed to benchmark and justify Full Burnup Credit, which adds 16 fission products and 4 minor actinides1 to Actinide-Only burnup credit. The historical perspective for Full Burnup Credit is discussed, and interviews of organizations participating in burnup credit activities are summarized as a basis for identifying additional data needs and making recommendation. Input from burnup credit participants representing two segments of the commercial nuclear industry is provided. First, the Electric Power Research Institute (EPRI) has been very active in the development of Full Burnup Credit, representing the interests of nuclear utilities in achieving capacity gains for storage and transport casks. EPRI and its utility customers are interested in a swift resolution of the validation issues that are delaying the implementation of Full Burnup Credit [EPRI 2010b]. Second, used nuclear fuel storage and transportation Cask Vendors favor improving burnup credit beyond Actinide-Only burnup credit, although their discussion of specific burnup credit achievements and data needs was limited citing business sensitive and technical proprietary concerns. While Cask Vendor proprietary items are not specifically identified in this report, the needs of all nuclear industry participants are reflected in the conclusions and recommendations of this report. In addition, Oak Ridge National Laboratory (ORNL) and Sandia National Laboratory (SNL) were interviewed for their input into additional data needs to achieve Full Burnup Credit. ORNL was very open to discussions of Full Burnup Credit, with several telecoms and a visit by ENERCON to ORNL. For many years, ORNL has provided extensive support to the NRC regarding burnup credit in all of its forms. Discussions with ORNL focused on potential resolutions to the validation issues for the use of fission products. SNL was helpful in

Credit Market Information Feedback

OpenAIRE

Balasubramanyan, Lakshmi; Craig, Ben R.; Thomson, James B.; Zaman, Saeed

2015-01-01

We examine how a combination of credit market and asset quality information can jointly be used in assessing bank franchise value. We find that expectations of future credit demand and future asset quality explain contemporaneous bank franchise value, indicative of the feedback in credit market information and its consequent impact on bank franchise value.

Strategies to Test for Private Student Loan Discrimination

Science.gov (United States)

Darolia, Rajeev

2014-01-01

Little is known about private student loan discrimination, in contrast to the relatively developed research on discrimination in other credit markets such as mortgages and credit cards. The private student lending market can play a key role in responding to changes in the policy or economic environment, and many students and their families turn to…

Documentary Letters of Credit, Legal Nature and Sources of Law

Directory of Open Access Journals (Sweden)

Alavi Hamed

2016-06-01

Full Text Available There is no doubt about risky nature of international trade. Such risk can be conceptualized as country risk, transportation risk, customer risk and etc. Documentary Letters of Credit (LC are used as a method of payment in international business for many centuries in order to reduce risk of trade specially when parties are located in different countries and do not have precise information from financial standing of each other. In such occasion LC will reduce the risk of trade by shifting payment obligation from buyer as an individual to a payment guarantee of a bank as a legal entity in return for presentation of complying documents with terms of credit by seller. Familiarity with legal nature and different legal frameworks which govern the international operation of documentary letters of credit can facilitate the process of international trade for businessmen and boost national economies. However, lack of knowledge about them can impose huge losses on international traders. Situation will be more complicated when we understand that there are many internationally recognized legal frameworks which can affect the operation of LC and they get frequently updated in order to address technological and economic developments in global market. In this paper, author tries to answer questions regarding (i what are international legal frameworks governing operation of documentary letters of credit? (ii which areas of LC operation has been covered by them and (iii how do they address the legal questions regarding international operation of documentary letters of credit?

The two-child limit for Universal Credit and Child Tax Credit

OpenAIRE

MACHIN, Richard

2017-01-01

Richard Machin explores the background to, and likely impact of, the two-child limit on the child element in Universal Credit and the Child Tax Credit, which was introduced by the Welfare Reform and Work Act 2016

Credit Hours with No Set Time: A Study of Credit Policies in Asynchronous Online Education

Science.gov (United States)

Prasuhn, Frederick Carl

2014-01-01

U.S. public university system policies were examined to learn how credit hours were determined for asynchronous online education. Findings indicated that (a) credit hour meaning and use are not consistent, (b) primary responsibility for credit hour decisions was at the local level, and (c) no policies exist to guide credit hour application for…

CREDIT DEFAULT SWAPS IN THE MECHANISM OF REDISTRIBUTION OF CREDIT RISK

Directory of Open Access Journals (Sweden)

O. Solodka

2015-03-01

Full Text Available In the article the economic nature and the functioning of CDS in terms of efficient redistribution of credit risk. The features of the dynamics of the nominal volume of the world market CDS, the gross market value and net market value of the CDS. Proved that more objective indicators of total credit risk shenerovanoho financial institutions are gross market value of the CDS and the net market value of CDS. We consider the variety and scope of CDS. Studied objectivity CDS valuation depending on the basis for valuation of CDS. In the mechanism of functioning CDS credit event as defined default “subject matter”, the features of conventional and technical default. Noted that a credit event for the use of CDS may also restructuring the company, bankruptcy or downgrade economic entity. In the article the types of CDS, including Basket Default Swap and First-of- Basket-to-Default Swap. We consider the application of CDS, namely hedge the credit risk of the underlying asset, which issued CDS; hedging credit risk of other assets by CDS; speculative trading in CDS. Depending on the particular basis for valuation of CDS, investigated objective valuation based on the value of CDS hedging; valuation CDS, based on the intensity of default; CDS valuation based on credit rating; valuation CDS, based on the value of the company. Proved that hedging through CDS will be effective only for the low correlation between the default of the underlying asset and counterparty default on swaps. It is proved that the accuracy and redutsyrovanyh structural models strongly depends on the “a long history of trading” underlying assets, asset must have a long history of trading, be the subject of in-depth analysis of a wide range of analysts and traders.

Credit Cards. Bulletin No. 721. (Revised.)

Science.gov (United States)

Fox, Linda Kirk

This cooperative extension bulletin provides basic information about credit cards and their use. It covers the following topics: types of credit cards (revolving credit, travel and entertainment, and debit); factors to consider when evaluating a credit card (interest rates, grace period, and annual membership fee); other credit card costs (late…

7 CFR 4280.139 - Credit quality.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Credit quality. 4280.139 Section 4280.139 Agriculture... Improvements Program Section B. Guaranteed Loans § 4280.139 Credit quality. The lender must determine credit quality and must address all of the elements of credit quality in a written credit analysis, including...

Value of credit bureau reports

Directory of Open Access Journals (Sweden)

Brković Milan

2017-01-01

Full Text Available An efficient system of credit information sharing contributes to solving the problem of information asymmetry on the credit and financial markets in general. The consequences of the global economic and financial crisis revealed an increasing demand for reliable information and data which could close the existing gap in their insufficiency, misuse or inadequate analytical value for the economic and financial policy makers. In that sense, more attention is directed to the usefulness of credit information sharing and the practical value of information and data contained in credit bureau reports for the purposes of achieving the overall economic policy goals. The fulfillment of that role depends mostly on the credit information sharing system and its characteristics, participants, and procedures. A credit bureau report in the best possible manner reflects all advantages and disadvantages of the established credit information exchange system in terms of its analytical value for the purposes of efficient macroeconomic and macrofinancial policies.

26 CFR 301.7701(i)-0 - Outline of taxable mortgage pool provisions.

Science.gov (United States)

2010-04-01

...) Two or more maturities. (1) In general. (2) Obligations that are allocated credit risk unequally. (3... certain credit enhancement contracts. (i) In general. (ii) Credit enhancement contract defined. (5.... (b) Certain assets and rights to assets disregarded. (1) Credit enhancement assets. (2) Assets...

Criticality reference benchmark calculations for burnup credit using spent fuel isotopics

International Nuclear Information System (INIS)

Bowman, S.M.

1991-04-01

To date, criticality analyses performed in support of the certification of spent fuel casks in the United States do not take credit for the reactivity reduction that results from burnup. By taking credit for the fuel burnup, commonly referred to as ''burnup credit,'' the fuel loading capacity of these casks can be increased. One of the difficulties in implementing burnup credit in criticality analyses is that there have been no critical experiments performed with spent fuel which can be used for computer code validation. In lieu of that, a reference problem set of fresh fuel critical experiments which model various conditions typical of light water reactor (LWR) transportation and storage casks has been identified and used in the validation of SCALE-4. This report documents the use of this same problem set to perform spent fuel criticality benchmark calculations by replacing the actual fresh fuel isotopics from the experiments with six different sets of calculated spent fuel isotopics. The SCALE-4 modules SAS2H and CSAS4 were used to perform the analyses. These calculations do not model actual critical experiments. The calculated k-effectives are not supposed to equal unity and will vary depending on the initial enrichment and burnup of the calculated spent fuel isotopics. 12 refs., 11 tabs

Development and Applications of a Prototypic SCALE Control Module for Automated Burnup Credit Analysis

International Nuclear Information System (INIS)

Gauld, I.C.

2001-01-01

Consideration of the depletion phenomena and isotopic uncertainties in burnup-credit criticality analysis places an increasing reliance on computational tools and significantly increases the overall complexity of the calculations. An automated analysis and data management capability is essential for practical implementation of large-scale burnup credit analyses that can be performed in a reasonable amount of time. STARBUCS is a new prototypic analysis sequence being developed for the SCALE code system to perform automated criticality calculations of spent fuel systems employing burnup credit. STARBUCS is designed to help analyze the dominant burnup credit phenomena including spatial burnup gradients and isotopic uncertainties. A search capability also allows STARBUCS to iterate to determine the spent fuel parameters (e.g., enrichment and burnup combinations) that result in a desired k eff for a storage configuration. Although STARBUCS was developed to address the analysis needs for spent fuel transport and storage systems, it provides sufficient flexibility to allow virtually any configuration of spent fuel to be analyzed, such as storage pools and reprocessing operations. STARBUCS has been used extensively at Oak Ridge National Laboratory (ORNL) to study burnup credit phenomena in support of the NRC Research program

12 CFR 703.6 - Credit analysis.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit analysis. 703.6 Section 703.6 Banks and... ACTIVITIES § 703.6 Credit analysis. A Federal credit union must conduct and document a credit analysis on an... Federal Deposit Insurance Corporation. A Federal credit union must update this analysis at least annually...

Trust and Credit

DEFF Research Database (Denmark)

Harste, Gorm

The present paper is an answer to the question, how did trust and credit emerge. The systems of trust and credit reduce the environmental and contextual complexities in which trust and credit are embedded. The paper analyses the forms of this reduction in a number of stages in the evolution...... of history from the present risk of modern systems back to early modernity, the Reformation and the high medieval Revolutions in law, organization and theology. It is not a history of economics, but a history of the conditions of some communication codes used in economic systems....

Credit Risk Modeling

DEFF Research Database (Denmark)

Lando, David

Credit risk is today one of the most intensely studied topics in quantitative finance. This book provides an introduction and overview for readers who seek an up-to-date reference to the central problems of the field and to the tools currently used to analyze them. The book is aimed at researchers...... and students in finance, at quantitative analysts in banks and other financial institutions, and at regulators interested in the modeling aspects of credit risk. David Lando considers the two broad approaches to credit risk analysis: that based on classical option pricing models on the one hand...

26 CFR 1.163-5 - Denial of interest deduction on certain obligations issued after December 31, 1982, unless issued...

Science.gov (United States)

2010-04-01

... Mortgage Corporation, the Farm Credit Administration, and the Student Loan Marketing Association, may not... dealer, it will send similar confirmations to whomever purchases from it. (4) In connection with the...

24 CFR 207.252a - Premiums-operating loss loans.

Science.gov (United States)

2010-04-01

... Premiums—operating loss loans. (a) The mortgagee, upon the insurance endorsement of the increase loan credit instrument covering the operating loss loan, shall pay to the Commissioner a first mortgage...

12 CFR 607.1 - Purpose and scope.

Science.gov (United States)

2010-01-01

...'s costs of supervising and examining the Federal Agricultural Mortgage Corporation (FAMC). The... annual administrative expenses and necessary reserves among Farm Credit System (System) institutions... examinations of non-System entities. ...

Documentary Credit Transfer and Other Financing from What Can Match as Product of Credit

Directory of Open Access Journals (Sweden)

Libardo Quintero Salazar

2016-12-01

Full Text Available When a contract of international sale of goods is mediated by a form of payment as the documentary credit, exporters that initially lack financial resources to produce or obtain merchandise that then will be delivered to the importer, look as first natural possibility of financing the transfer for the documentary credit. Now not always the credit can be transferable in accordance with the Uniform Customs and Practice for Documentary Credits (UCP – because, for example, the importer or the financial entity do not want it in that way. Given the above scenario, this article aims to provide solutions, explaining legal alternatives for the exporter that is not in the UCP-, to use the money that might correspond as a result of the documentary credit, to finance the production or acquisition of goods against other traders, and then reselling them to the importer. It concludes that the exporter can achieve such immediate funding - similar to what encourage the transfer of documentary credit - using to their relations with the supplier, figures as the assignment of a future credit, banker’s acceptance and contract terms.

Modern bank's credit risk

Directory of Open Access Journals (Sweden)

Šabović Šerif

2015-01-01

Full Text Available Credit risk is the most important risk banks have to face with. It occurs due to an obligation created because of debtors' capital and interest rate nonpayment. Debtors obligations non-fulfilment may lead to great losses and insolvency in bank's business. Credit risk is the crucial reason of bank's insolvency. Over 80% of bank's balance sheet is exposed to credit risk.

Inventory and Credit Decisions under Day-Terms Credit Linked Demand and Allowance for Bad Debts

Directory of Open Access Journals (Sweden)

K. K. Aggarwal

2014-01-01

Full Text Available In order to stimulate demand of their product, firms generally give credit period to their customers. However, selling on credit exposes the firms to the additional dimension of bad debts expense (i.e., customer’s default. Moreover, credit period through its influence on demand becomes a determinant of inventory decisions and inventory sold on credit gets converted to accounts receivable indicating the interaction between the two. Since inventory and credit decisions are interrelated, inventory decisions must be determined jointly with credit decisions. Consequently, in this paper, a mathematical model is developed to determine inventory and credit decisions jointly. The demand rate is assumed to be a logistic function of credit period. The accounts receivable carrying cost along with an explicit consideration of bad debt expense which have been often ignored in previous models are incorporated in the present model. The discounted cash flow approach (DCF is used to develop the model and the objective is to maximize the present value of the firm’s net profit per unit time. Finally, numerical example and sensitivity analysis have been done to illustrate the effectiveness of the proposed model.

Geography of opportunity and residential mortgage foreclosure: A spatial analysis of a U.S. housing market

Directory of Open Access Journals (Sweden)

Yanmei LI

2011-12-01

Full Text Available South Florida has been among the top foreclosure markets in the United States, but little research has explored whether this market presents different dynamics compared to other metropolitan areas. This research chooses Broward County to explore whether socioeconomic characteristics and certain public policy instruments relate to subprime lending and mortgage foreclosure patterns. Results indicate areas bounded by linear highways and railroads have a concentration of low-income black population and subprime loans. The spatial distribution of subprime loans is mostly explained by a higher percentage of minority and/or Hispanic population in a neighborhood. Yet, racial minorities, instead of Hispanic origin, contributes mostly to the concentration of subprime loans. The spatial pattern of foreclosures is more complex, determined not only by subprime loans but also possibly other factors associated with the mortgage crisis. This suggests that disadvantaged neighborhoods are disproportionally lacking favorable opportunities due to institutional and sub- cultural forces shaping the geography of subprime and foreclosure.

Present status and future developments of the implementation of burnup credit in spent fuel management systems in Germany

International Nuclear Information System (INIS)

Neuber, J.C.; Kuehl, H.

2001-01-01

This paper describes the experience gained in Germany in implementing burnup credit in wet storage and dry transport systems of spent PWR, BWR, and MOX fuel. It gives a survey of the levels of burnup credit presently used, the regulatory status and activities planned, the fuel depletion codes and criticality calculation codes employed, the verification methods used for validating these codes, the modeling assumptions made to ensure that the burnup credit criticality analysis is based on a fuel irradiation history which leads to bounding neutron multiplication factors, and the implementation of procedures used for fuel loading verification. (author)

Present status and future developments of the implementation of burnup credit in spent fuel management systems in Germany

Energy Technology Data Exchange (ETDEWEB)

Neuber, J C [Siemens Nuclear Power GmbH, Offenbach (Germany); Kuehl, H [Wissenschaftlich-Technische Ingenieurberatung WTI GmbH, Juelich (Germany)

2001-08-01

This paper describes the experience gained in Germany in implementing burnup credit in wet storage and dry transport systems of spent PWR, BWR, and MOX fuel. It gives a survey of the levels of burnup credit presently used, the regulatory status and activities planned, the fuel depletion codes and criticality calculation codes employed, the verification methods used for validating these codes, the modeling assumptions made to ensure that the burnup credit criticality analysis is based on a fuel irradiation history which leads to bounding neutron multiplication factors, and the implementation of procedures used for fuel loading verification. (author)

Credit Card Debt Hardship Letter Samples

OpenAIRE

lissa coffey

2016-01-01

Having trouble with your credit card debt? Below you will find examples of hardship letters. There are several things to consider when writing a credit card hardship letter. A hardship letter is the first step to letting the credit card company know that things are bad. This free credit card hardship letter sample is only a guide in order to start the negotiation. Credit card debt hardship letter example, hardship letter to credit card. If you are having trouble paying off your debt and need ...

Credit cues and impression management: a preliminary attempt to explain the credit card effect.

Science.gov (United States)

McCall, Michael; Trombetta, Jessica; Gipe, Aimee

2004-08-01

Prior research had suggested that individuals would estimate higher product values and even tip more in the presence of credit cues. In the absence of a clear theoretical interpretation of this credit card effect we propose that this tendency is an impression management strategy such that credit cue exposure influences perceptions of the self and focuses attention on individual wealth. Thus, in the presence of others, credit cues serve to enhance images of the self. Preliminary data in support of this alternative theoretical perspective are presented.

24 CFR 203.251 - Definitions.

Science.gov (United States)

2010-04-01

... that stands for “Technology Open to Approved Lenders.” TOTAL is a mortgage scorecard based on a... substitute for the mortgagee's reasonable consideration of risk and credit worthiness. Direct Endorsement...

Permit trading and credit trading

DEFF Research Database (Denmark)

Boom, Jan-Tjeerd; R. Dijstra, Bouwe

This paper compares emissions trading based on a cap on total emissions (permit trading) and on relative standards per unit of output (credit trading). Two types of market structure are considered: perfect competition and Cournot oligopoly. We find that output, abatement costs and the number...... of firms are higher under credit trading. Allowing trade between permit-trading and credit-trading sectors may increase in welfare. With perfect competition, permit trading always leads to higher welfare than credit trading. With imperfect competition, credit trading may outperform permit trading....... Environmental policy can lead to exit, but also to entry of firms. Entry and exit have a profound impact on the performance of the schemes, especially under imperfect competition. We find that it may be impossible to implement certain levels of total industry emissions. Under credit trading several levels...

An Analysis of the Neighborhood Impacts of a Mortgage Assistance Program: A Spatial Hedonic Model

Science.gov (United States)

Di, Wenhua; Ma, Jielai; Murdoch, James C.

2010-01-01

Down payment or closing cost assistance is an effective program in addressing the wealth constraints of low-and moderate-income homebuyers. However, the spillover effect of such programs on the neighborhood is unknown. This paper estimates the impact of the City of Dallas Mortgage Assistance Program (MAP) on nearby home values using a hedonic…

UJI INTEGRASI DAN CONTAGION EFFECT PASAR MODAL PADA LIMA NEGARA ASEAN (RISET EMPIRIS PASCA TERJADINYA KRISIS SUBPRIME MORTGAGE DAN KRISIS YUNANI

Directory of Open Access Journals (Sweden)

Tarsisius Renald Suganda

2016-10-01

Full Text Available Financial market comovement in ASEAN main member countries is still attractive to scrunitized, because this area is vulnerable to the impact on a global economic event. This study examined capital market integration of five ASEAN main members (Indonesia, Singapore, Malaysia, Philippines, and Thailand by using September 2008—30 April 2013 data period. This period will divided into the post 2008 Subprime Mortgage crisis period and the post 2010 Greece crisis period. Vector Autoregressive (VAR was used to test the comovement occurance among these capital markets and Granger Causality Test was used to analyze the contagion effect among these capital markets. The finding shows that the comovement was occurred among Indonesia, Malay-sia, Singapore and Thailand’s capital market during September 2008 to 30 April 2013 period. The comovement was still occured after 2008 Subpime Mortgage crisis period and 2010 Greece crisis period, although there is country namely Philippines which did not have the comovement at all against the other countries. Further-more, the finding shows that Indonesia capital market gives contagion effect to other ASEAN countries after 2008 Subprime Mortgage crisis and Greece financial crisis.

Overrated credit risk: three essays on credit risk in turbulent times

NARCIS (Netherlands)

Bongaerts, D.G.J.

2010-01-01

Credit markets have shown a dramatic development at the start of the 21st century. Increased regulatory pressure on financial institutions has spurred the development of innovative products that allow for transfer of credit risk. These developments lay at the base of the largest financial crisis

The Impact of Financial Development on the Relationship between Trade Credit, Bank Credit and Firm Characteristics

OpenAIRE

Jézabel Couppey-Soubeyran; Jérôme Héricourt

2013-01-01

Using a database of more than 1,300 firms from six countries in the MENA region, we study the impact of financial development on the relationship between trade credit on the one hand and bank credit access and firm-level characteristics, especially financial health, on the other hand. Trade credit use increases with the difficulty for gaining access to bank credit, and indicators of the quality of the firm's financial structure negatively influence the use of trade credit. Additional investig...

Pilot States Program report: Home energy ratings systems and energy-efficient mortgages

Energy Technology Data Exchange (ETDEWEB)

Farhar, B.

2000-04-04

This report covers the accomplishments of the home energy ratings systems/energy-efficient mortgages (HERS/EEMs) pilot states from 1993 through 1998, including such indicators as funding, ratings and EEMs achieved, active raters, and training and marketing activities. A brief description of each HERS program's evolution is included, as well as their directors' views of the programs' future prospects. Finally, an analysis is provided of successful HERS program characteristics and factors that appear to contribute to HERS program success.

The "Negative" Credit Card Effect: Credit Cards as Spending-Limiting Stimuli in New Zealand

Science.gov (United States)

Lie, Celia; Hunt, Maree; Peters, Heather L.; Veliu, Bahrie; Harper, David

2010-01-01

The "credit card effect" describes a finding where greater value is given to consumer items if credit card logos are present. One explanation for the effect is that credit cards elicit spending behavior through associative learning. If this is true, social, economic and historical contexts should alter this effect. In Experiment 1, Year…

The use of burnup credit in criticality control for the Korean spent fuel management program

International Nuclear Information System (INIS)

Koh, Duck Joon; Chon, Je Keun; Park, Chung Ryul; Ji, Pyung Kuk; Kim, Byung Tae; Jo, Chang Keun; Cho, Nam Zin

1997-01-01

More than 25% k-eff saving effect is observed in this burnup credit analysis. This mainly comes from the adoption of actinide nuclides and fission products in the criticality analysis. By taking burnup credit, the high capacity of the storage and transportation can be more fully utilized, reducing the space of storage and the number of shipments. Larger storage and fewer shipments for a given inventory of spent fuel result should in remarkable cost savings and more importantly reduce the risks to the public and occupational workers for the Korean Spent Fuel Management Program

Intertemporal consumption and credit constraints

DEFF Research Database (Denmark)

Leth-Petersen, Søren

2010-01-01

There is continuing controversy over the importance of credit constraints. This paper investigates whether total household expenditure and debt is affected by an exogenous increase in access to credit provided by a credit market reform that enabled Danish house owners to use housing equity...

Dynamic Diversification in Corporate Credit

DEFF Research Database (Denmark)

Christoffersen, Peter; Jacobs, Kris; Jin, Xisong

We characterize diversification in corporate credit using a new class of dynamic copula models which can capture dynamic dependence and asymmetry in large samples of firms. We also document important differences between credit spread and equity return dependence dynamics. Modeling a decade...... the crisis and remain high as well. The most important shocks to credit dependence occur in August of 2007 and in August of 2011, but interestingly these dates are not associated with significant changes to median credit spreads....

12 CFR 615.5172 - Production credit association and agricultural credit association investment in farmers' notes...

Science.gov (United States)

2010-01-01

... credit association investment in farmers' notes given to cooperatives and dealers. 615.5172 Section 615....5172 Production credit association and agricultural credit association investment in farmers' notes... farmers and ranchers eligible to borrow from such associations. (b) Such notes and other obligations...

Dual Credit Report

Science.gov (United States)

Light, Noreen

2016-01-01

In 2015, legislation to improve access to dual-credit programs and to reduce disparities in access and completion--particularly for low income and underrepresented students--was enacted. The new law focused on expanding access to College in the High School but acknowledged issues in other dual-credit programs and reinforced the notion that cost…

Limited take-up of health coverage tax credits: a challenge to future tax credit design.

Science.gov (United States)

Dorn, Stan; Varon, Janet; Pervez, Fouad

2005-10-01

The Trade Act of 2002 created federal tax credits to subsidize health coverage for certain early retirees and workers displaced by international trade. Though small, this program offers the opportunity to learn how to design future tax credits for larger groups of uninsured. During September 2004, the most recent month for which there are data about all forms of Trade Act credits, roughly 22 percent of eligible individuals received credits. The authors find that health insurance tax credits are more likely to reach their target populations if such credits: 1) limit premium costs for the low-income uninsured and do not require full premium payments while applications are pending; 2) provide access to coverage that beneficiaries value, including care for preexisting conditions; 3) are combined with outreach that uses easily understandable, multilingual materials and proactive enrollment efforts; and 4) feature a simple application process involving one form filed with one agency.

12 CFR 614.4125 - Funding and discount relationships between Farm Credit Banks or agricultural credit banks and...

Science.gov (United States)

2010-01-01

..., Risk Management, Farm Credit System Insurance Corporation. (f) A direct lender association shall... Administration office that the Chief Examiner designates, and the Director, Risk Management, Farm Credit System... Credit Banks or agricultural credit banks and direct lender associations. 614.4125 Section 614.4125 Banks...

Follow Up: Credit Card Caution

Science.gov (United States)

Cahill, Timothy P.

2007-01-01

In "Pushing Plastic," ("The New England Journal of Higher Education", Summer 2007), John Humphrey notes that many college administrators justify their credit card solicitations by suggesting that credit card access will help students learn to manage their own finances. Instead, credit card debt will teach thousands of students…

24 CFR 266.305 - HFAs accepting less than 50 percent of risk.

Science.gov (United States)

2010-04-01

... things, will apportion units and obligate credit subsidy to the project. (d) Inspections and other.... (e) Endorsement of mortgage note for insurance. So long as the HFA is in good standing, and absent...

76 FR 79531 - Corporate Credit Unions

Science.gov (United States)

2011-12-22

... exclude CLF stock subscriptions, based on the asset's negligible credit risk and to facilitate corporate... removing paragraphs (c)(3) and (f)(4) and adding paragraph (h) to read as follows: Sec. 704.6 Credit risk... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 704 RIN 3133-AD95 Corporate Credit Unions AGENCY...

Your Credit Rights: An Instructional Unit on Consumer Credit Protection. Revised.

Science.gov (United States)

Jensen, Barbara J.; And Others

This instructional guide adds two new sections to the original guide published in May 1982. The guide was designed to assist educators in teaching the topics of consumer credit and consumer credit protection to secondary and postsecondary students in various economics and business courses, as well as in adult and community education courses. The…

12 CFR 614.4720 - Letters of credit.

Science.gov (United States)

2010-01-01

... Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Banks for Cooperatives and Agricultural Credit Banks Financing International Trade § 614.4720 Letters of credit. Banks for cooperatives and agricultural credit banks, under policies adopted by their boards of directors...

78 FR 44580 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

Science.gov (United States)

2013-07-24

... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

75 FR 41510 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

Science.gov (United States)

2010-07-16

... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by...). The interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period...

78 FR 4427 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

Science.gov (United States)

2013-01-22

... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

75 FR 5339 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

Science.gov (United States)

2010-02-02

... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

77 FR 4359 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

Science.gov (United States)

2012-01-27

... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by...). The interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period...

76 FR 4127 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

Science.gov (United States)

2011-01-24

... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

76 FR 47225 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

Science.gov (United States)

2011-08-04

... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

77 FR 42754 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

Science.gov (United States)

2012-07-20

... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

Optimal replenishment and credit policy in supply chain inventory model under two levels of trade credit with time- and credit-sensitive demand involving default risk

Science.gov (United States)

Mahata, Puspita; Mahata, Gour Chandra; Kumar De, Sujit

2018-03-01

Traditional supply chain inventory modes with trade credit usually only assumed that the up-stream suppliers offered the down-stream retailers a fixed credit period. However, in practice the retailers will also provide a credit period to customers to promote the market competition. In this paper, we formulate an optimal supply chain inventory model under two levels of trade credit policy with default risk consideration. Here, the demand is assumed to be credit-sensitive and increasing function of time. The major objective is to determine the retailer's optimal credit period and cycle time such that the total profit per unit time is maximized. The existence and uniqueness of the optimal solution to the presented model are examined, and an easy method is also shown to find the optimal inventory policies of the considered problem. Finally, numerical examples and sensitive analysis are presented to illustrate the developed model and to provide some managerial insights.

Who Gets the Credit? Who Pays the Consequences? The Illinois Tuition Tax Credit. Special Report.

Science.gov (United States)

Pathak, Arohi; Keenan, Nancy

In 1999, Illinois enacted a tuition tax credit program. Tax credit supporters suggest tax credits help low-income students. However, opponents argue that they disproportionately benefit higher-income families whose children are already attending private schools and may decrease already limited resources available to public schools. New data from…

Forecasting the value of credit scoring

Science.gov (United States)

Saad, Shakila; Ahmad, Noryati; Jaffar, Maheran Mohd

2017-08-01

Nowadays, credit scoring system plays an important role in banking sector. This process is important in assessing the creditworthiness of customers requesting credit from banks or other financial institutions. Usually, the credit scoring is used when customers send the application for credit facilities. Based on the score from credit scoring, bank will be able to segregate the "good" clients from "bad" clients. However, in most cases the score is useful at that specific time only and cannot be used to forecast the credit worthiness of the same applicant after that. Hence, bank will not know if "good" clients will always be good all the time or "bad" clients may become "good" clients after certain time. To fill up the gap, this study proposes an equation to forecast the credit scoring of the potential borrowers at a certain time by using the historical score related to the assumption. The Mean Absolute Percentage Error (MAPE) is used to measure the accuracy of the forecast scoring. Result shows the forecast scoring is highly accurate as compared to actual credit scoring.

Long range dependency and forecasting of housing price index and mortgage market rate: evidence of subprime crisis

Directory of Open Access Journals (Sweden)

Nadhem Selmi

2015-05-01

Full Text Available In this paper, we examine and forecast the House Price Index (HPI and mortgage market rate in terms of the description of the subprime crisis. We use a semi-parametric local polynomial Whittle estimator proposed by Shimotsu et al. (2005 [Shimotsu, K., & Phillips, P.C.B. (2005, Exact local Whittle estimation of fractional integration. The Annals of Statistics, 33(4, 1890-1933.] in a long memory parameter time series. Empirical investigation of HPI and mortgage market rate shows that these variables are more persistent when the d estimates are found on the Shimotsu method than on the one of Künsch (1987 [Künsch, H.R. (1987. Statistical aspects of self-similar processes. In Y. Prokhorov and V.V. Sazanov (eds., Proceedings of the First World Congress of the Bernoulli Society, VNU Science Press, Utrecht, 67-74.]. The estimating forecast values are more realistic and they strongly reflect the present US economy actuality in the two series as indicated by the forecast evaluation topics.

Current Situation of Household Income as a Factor, Having Impact on Mortgage Lending in Mongolia

Directory of Open Access Journals (Sweden)

Khuselchimeg Batbileg

2012-04-01

Full Text Available Amount of household income is the most important factor for housing loan. The article studies mortgage lending in Ulaanbaatar in 2007–2009, the factor, having great impact on the current economy of Mongolia, carries out the comparative analysis of capital’s medium and low income households and presents methods, which will help to solve these problems.

CREDIT Performance Indicator Framework

DEFF Research Database (Denmark)

Frandsen, Anne Kathrine; Bertelsen, Niels Haldor; Haugbølle, Kim

2010-01-01

During the past two years the Nordic Baltic research project CREDIT (Construction and Real Estate – Developing Indicators for Transparency) has worked with the aim to improve transparency of value creation in building and real estate. One of the central deliverables of the CREDIT project was a fr......During the past two years the Nordic Baltic research project CREDIT (Construction and Real Estate – Developing Indicators for Transparency) has worked with the aim to improve transparency of value creation in building and real estate. One of the central deliverables of the CREDIT project...... was a framework of indicators relevant in building and real estate and applicable in the Nordic and Baltic countries as well as a proposal for a set of key indicators. The study resulting in CREDIT Performance Indicator Framework has been based on 28 case studies of evaluation practises in the building and real...... estate sector each addressing three interlinked levels: building/ projects level, company or enterprise level and benchmarking system level. Additionally it has been based on dialogue with researchers and professional organisation, international research and standardisation work and national building...

12 CFR 704.6 - Credit risk management.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit risk management. 704.6 Section 704.6... CREDIT UNIONS § 704.6 Credit risk management. (a) Policies. A corporate credit union must operate according to a credit risk management policy that is commensurate with the investment risks and activities...

12 CFR Appendix K to Part 226 - Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions

Science.gov (United States)

2010-01-01

... Appendix K to Part 226—Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions (a... loan cost rate for various transactions, as well as instructions, explanations, and examples for.... (2) Term of the transaction. For purposes of total annual loan cost disclosures, the term of a...

Private Sector Credit and Inflation Volatility

Directory of Open Access Journals (Sweden)

Lorna Katusiime

2018-04-01

Full Text Available This paper investigates the effect of inflation volatility on private sector credit growth. The results indicate that private sector credit growth is positively linked to the one period lagged inflation volatility. Given that past monetary policy actions continue to affect the targeted variables due to the substantial lags in the transmission mechanism, the positive response of private sector credit growth to past inflation volatility suggests a credible monetary policy regime in Uganda, which has led to a reduction in the level of macroeconomic uncertainty and the restoration of favorable economic conditions and prospects, thus increasing the demand for credit. Further, the study finds that the lagged private sector credit growth, nominal exchange rate, and inflation have a statistically significant effect on private sector credit growth while financial innovation, interest rates, and GDP growth appear not to be important determinants of private sector credit growth. The robustness of our findings is confirmed by sensitivity checks.

12 CFR 619.9145 - Farm Credit Bank.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit Bank. 619.9145 Section 619.9145 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9145 Farm Credit Bank. The term Farm Credit Bank refers to a bank resulting from the mandatory merger of the Federal land...

Current applications of actinide-only burn-up credit within the Cogema group and R and D programme to take fission products into account

International Nuclear Information System (INIS)

Toubon, H.; Guillou, E.; Cousinou, P.; Barbry, F.; Grouiller, J.P.; Bignan, G.

2001-01-01

Burn-up credit can be defined as making allowance for absorbent radioactive isotopes in criticality studies, in order to optimise safety margins and avoid over-engineering of nuclear facilities. As far as the COGEMA Group is concerned, the three fields in which burn-up credit proves to be an advantage are the transport of spent fuel assemblies, their interim storage in spent fuel pools and reprocessing. In the case of transport, burn-up credit means that cask size do not need to be altered, despite an increase in the initial enrichment of the fuel assemblies. Burn-up credit also makes it possible to offer new cask designs with higher capacity. Burn-up credit means that fuel assemblies with a higher initial enrichment can be put into interim storage in existing facilities and opens the way to the possibility of more compact ones. As far as reprocessing is concerned, burn-up credit makes it possible to keep up current production rates, despite an increase in the initial enrichment of the fuel assemblies being reprocessed. In collaboration with the French Atomic Energy Commission and the Institute for Nuclear Safety and Protection, the COGEMA Group is participating in an extensive experimental programme and working to qualify criticality and fuel depletion computer codes. The research programme currently underway should mean that by 2003, allowance will be made for fission products in criticality safety analysis

Current applications of actinide-only burn-up credit within the Cogema group and R and D programme to take fission products into account

Energy Technology Data Exchange (ETDEWEB)

Toubon, H. [Cogema, 78 - Saint Quentin en Yvelines (France); Guillou, E. [Cogema Etablissement de la Hague, D/SQ/SMT, 50 - Beaumont Hague (France); Cousinou, P. [CEA Fontenay aux Roses, Inst. de Protection et de Surete Nucleaire, 92 (France); Barbry, F. [CEA Valduc, Inst. de Protection et de Surete Nucleaire, 21 - Is sur Tille (France); Grouiller, J.P.; Bignan, G. [CEA Cadarache, 13 - Saint Paul lez Durance (France)

2001-07-01

Burn-up credit can be defined as making allowance for absorbent radioactive isotopes in criticality studies, in order to optimise safety margins and avoid over-engineering of nuclear facilities. As far as the COGEMA Group is concerned, the three fields in which burn-up credit proves to be an advantage are the transport of spent fuel assemblies, their interim storage in spent fuel pools and reprocessing. In the case of transport, burn-up credit means that cask size do not need to be altered, despite an increase in the initial enrichment of the fuel assemblies. Burn-up credit also makes it possible to offer new cask designs with higher capacity. Burn-up credit means that fuel assemblies with a higher initial enrichment can be put into interim storage in existing facilities and opens the way to the possibility of more compact ones. As far as reprocessing is concerned, burn-up credit makes it possible to keep up current production rates, despite an increase in the initial enrichment of the fuel assemblies being reprocessed. In collaboration with the French Atomic Energy Commission and the Institute for Nuclear Safety and Protection, the COGEMA Group is participating in an extensive experimental programme and working to qualify criticality and fuel depletion computer codes. The research programme currently underway should mean that by 2003, allowance will be made for fission products in criticality safety analysis.

CORRELATED ANALYSIS OF CLIENT-CREDIT COST WITH THE ONE OF SUPPLIER - CREDIT COST

Directory of Open Access Journals (Sweden)

MIRELA MONEA

2012-01-01

Full Text Available The given client-credit has associated several types of costs. If a company gives client-credit for a certain period of time, then it will have to finance its activity from other sources. Another aspect is the one related to the size of allotted sum. The sum that must be covered does not equal the turnover. The impact on financing the operating cycle is found usually only under the form of expenses which are made up of variable costs (because amortization must not be paid, the profit is included in the price. Thus, the sum which must be covered is not related to the non-cashed turnover from the client-credit, but only to variable costs. This will be the sum that must be covered from the financing sources. Supplier-credit is a source attracted, usually it has no cost.

Trade credit supply, market power and the matching of trade credit terms

NARCIS (Netherlands)

Fabbri, D.; Klapper, L.F.

2008-01-01

This paper studies the decision of firms to extend trade credit to customers and its relation with their financing decisions. We use a novel firm-level database with unique information on market power in both output and input markets and on the amount, terms and payment history of trade credit

76 FR 67287 - Alternative Fuel Transportation Program; Alternative Fueled Vehicle Credit Program (Subpart F...

Science.gov (United States)

2011-10-31

... additional credits for the use of biodiesel in blends of 20 percent biodiesel or greater and have provided an... discussion in Part II.A), the original program based upon AFV acquisitions and biodiesel use became known as... example, B20 (a 20 percent blend of biodiesel with 80 percent petroleum diesel) is not an alternative fuel...

Did Globalization Influence Credit Market Deregulation

OpenAIRE

Eppinger, Peter; Potrafke, Niklas

2015-01-01

We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of the Fraser Institute. The results from both cross-sectional and panel regressions using ordinary least squares indicate a positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted t...

Service quality in consumer's credit branch

OpenAIRE

Blechová, Věra

2008-01-01

The diploma thesis deals with consumer's credit grants of banking and non-banking corporations and comparison of their service quality. The first part of research is dedicated to consumer's knowledge of credit issues. Second describes main difficulties of consumer's credit grants of banking and non-banking corporations and proves their use of unfair manners. The final part of thesis propose improvements, which will boost consumer's protection on field of consumer's credits.

75 FR 5169 - Listening Session Regarding Notice of Funding Availability for Applications for Credit Assistance...

Science.gov (United States)

2010-02-01

...] Listening Session Regarding Notice of Funding Availability for Applications for Credit Assistance Under the... Transportation (DOT). ACTION: Notice of listening session. SUMMARY: The DOT's TIFIA Joint Program Office (JPO) announces a listening session for the public to discuss the topics identified in the notice of funding...

Penyelesaian Kredit Macet Bank Melalui Parate Eksekusi

Directory of Open Access Journals (Sweden)

Chadijah Rizki Lestari

2017-04-01

ABSTRACT: One type of collateral that can be given to the bank's borrowers is ground. This is important so that the distribution and loan repayments can run smoothly as expected. However, bad credit cannot always be avoided. One of the steps that can be taken by the executing bank is the object of the collateral is land through mortgage. One way of execution of the mortgage is based on the provisions of Article 6 of Law Number 4, 1996 on Mortgage of Land Along Objects Relating to Land (UUHT. This paper will examine how the process of the execution of the mortgage under the provisions of Article 6 UUHT. This is normative juridical approach that is both explanatory and will be analyzed by qualitative approach. The results showed that the execution Encumbrance pursuant to Article 6 UUHT must be agreed in advance between the bank and the debtor. Appointments are set forth in the Deed Granting Bond Over Land Rights (APHT. It has been agreed then the bank may apply for execution to KPKNL Mortgage.

12 CFR 619.9140 - Farm Credit bank(s).

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit bank(s). 619.9140 Section 619.9140 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9140 Farm Credit bank(s). Except as otherwise defined, the term Farm Credit bank(s) includes Farm Credit Banks...

Credit Cycle and Adverse Selection Effects in Consumer Credit Markets – Evidence from the HELOC Market

NARCIS (Netherlands)

Calem, P.; Cannon, M.; Nakamura, L.I.

2011-01-01

We empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, we use county-level aggregates of these loans to estimate panel regressions on

24 CFR 242.77 - Liens.

Science.gov (United States)

2010-04-01

... liens other than the insured mortgage, except that the property may be subject to a lien as provided by... superior lien on accounts receivable as approved by HUD as collateral for a line of credit or other...

Present status and future developments of the implementation of burnup credit in spent fuel management systems in Germany

International Nuclear Information System (INIS)

Neuber, J.C.

1998-01-01

The paper describes the experience gained in Germany in applying burnup credit methodologies to wet storage and dry transport systems of spent LWR fuel. It gives a survey of the levels of burnup credit presently used or intended to be used, the regulatory status and future developments planned, the codes used for performing depletion and criticality calculations, the methods applied to verification of these codes, and the methods used to treat parameters specific of burnup credit. In particular it is shown that the effect of axial burnup profiles on wet PWR storage designs based on burnup credit varies from fuel type to fuel type. For wet BWR storage systems the method of estimating a loading curve is described which provides for a given BWR fuel assembly design the minimum required initial burnable absorber content as a function of the initial enrichment of the fuel. (author)

78 FR 25101 - Credit Ratings Roundtable

Science.gov (United States)

2013-04-29

... SECURITIES AND EXCHANGE COMMISSION [Release No. 34-69433; File No. 4-661] Credit Ratings... examine issues in connection with the possibility of developing a credit rating assignment system. The... FURTHER INFORMATION CONTACT: Scott Davey at (212) 336-0075, Office of Credit Ratings, Securities and...

The role of ORIGEN-S in the design of burnup credit spent fuel casks

International Nuclear Information System (INIS)

Brady, M.C.

1991-01-01

Current licensing practices for spent fuel pools, storage facilities, and transportation casks require a conservative ''fresh fuel assumption'' be used in the criticality analysis. Burnup credit refers to a new approach in criticality analyses for spent fuel handling systems in which reactivity credit is allowed for the depleted state of the fuel. Studies have shown that the increased cask capacities that can be achieved with burnup credit offer both economic and risk incentives. The US Department of Energy is currently sponsoring a program to develop analysis methodologies and establish a new generation of spent fuel casks using the principle of burnup credit. The key difference in this new approach is the necessity to accurately predict the isotopic composition of the spent fuel. ORIGEN-S was selected to satisfy this requirement because of the flexibility and user-friendly input offered via its usage in the Standardized Computer Analyses for Licensing and Evaluation (SCALE) code system. Specifically, through the Shielding Analysis Sequence 2H (SAS2H), ORIGEN-S is linked with cross-section processing codes and one-dimensional transport analyses to produce problem-specific cross-section data for the point-depletion calculation. The utility code COUPLE facilitates updating basic cross-section and fission-yield data for the calculations. This paper describes the fundamental role fulfilled by ORIGEN-S in the development of the analysis methodology, validation of the methods, definition of criticality safety margins and other licensing considerations in the design of a new generation of spent fuel casks. Particular emphasis is given to the performance of ORIGEN-S in comparisons with measurements of irradiated fuel compositions and in predicting isotopics for use in the calculation of reactor restart critical configurations that are performed as a part of the validation process

Agricultural Credit Discount Fund – Agribusiness support credit line - Macedonian experience

OpenAIRE

Kovachev, Goran

2012-01-01

The main objective of this study is to emphasize the importance of creating special governmental refinancing institutions targeted towards strategic economic sectors. Such institution in Macedonia is Agricultural Credit Discount Fund, a separate unit within the Macedonian Bank for Development Promotion that administers a credit line meant to support the agribusiness. As it is commonly known agriculture is one of the most important economic sectors of the country. The ACDF's 'modus operandi' i...

Implementation of burnup credit in spent fuel management systems. Proceedings of an advisory group meeting

International Nuclear Information System (INIS)

1998-04-01

The criticality safety analysis of spent fuel systems has traditionally assumed that the fuel is fresh. This results in significant conservatism in the calculated value of the system's reactivity. Improved calculational methods allows one to take credit for the reactivity reduction associated with fuel burnup, hence reducing the analysis conservatism while maintaining an adequate criticality safety margin. Motivation for using burnup credit in criticality safety applications is generally based on economic considerations. Although economics may be a primary factor in deciding to use burnup credit, other benefits may be realized. Many of the additional benefits of burnup credit that are not strictly economic, may be considered to contribute to public health and safety, and resource conservation and environmental quality. Interest in the implementation of burnup credit has been shown by many countries. A summary of the information gathered by the IAEA about ongoing activities and regulatory status of burnup credit in different countries is included. Burnup credit implementation introduces new parameters and effects that should be addressed in the criticality analysis (e.g., axial and radial burnup shapes, fuel irradiation history, and others). Analysis of these parameters introduces new variations as well as the uncertainties, that should be considered in the safety assessment of the system. Also, the need arises to validate the isotopic composition that results from a depletion calculation, as well as to extend the current validation range of criticality codes to cover spent fuel. The use of burnup credit implies a verification of the fuel burnup before loading for transport, storage, disposal, or reprocessing each assembly, to make sure that the burnup level achieved complies with the criteria established. Methods and procedures used in different countries are described in this report

Implementation of burnup credit in spent fuel management systems. Proceedings of an advisory group meeting

Energy Technology Data Exchange (ETDEWEB)

NONE

1998-04-01

The criticality safety analysis of spent fuel systems has traditionally assumed that the fuel is fresh. This results in significant conservatism in the calculated value of the system`s reactivity. Improved calculational methods allows one to take credit for the reactivity reduction associated with fuel burnup, hence reducing the analysis conservatism while maintaining an adequate criticality safety margin. Motivation for using burnup credit in criticality safety applications is generally based on economic considerations. Although economics may be a primary factor in deciding to use burnup credit, other benefits may be realized. Many of the additional benefits of burnup credit that are not strictly economic, may be considered to contribute to public health and safety, and resource conservation and environmental quality. Interest in the implementation of burnup credit has been shown by many countries. A summary of the information gathered by the IAEA about ongoing activities and regulatory status of burnup credit in different countries is included. Burnup credit implementation introduces new parameters and effects that should be addressed in the criticality analysis (e.g., axial and radial burnup shapes, fuel irradiation history, and others). Analysis of these parameters introduces new variations as well as the uncertainties, that should be considered in the safety assessment of the system. Also, the need arises to validate the isotopic composition that results from a depletion calculation, as well as to extend the current validation range of criticality codes to cover spent fuel. The use of burnup credit implies a verification of the fuel burnup before loading for transport, storage, disposal, or reprocessing each assembly, to make sure that the burnup level achieved complies with the criteria established. Methods and procedures used in different countries are described in this report. Refs, figs, tabs.

A Mechanism for Anonymous Credit Card Systems

Science.gov (United States)

Tamura, Shinsuke; Yanase, Tatsuro

This paper proposes a mechanism for anonymous credit card systems, in which each credit card holder can conceal individual transactions from the credit card company, while enabling the credit card company to calculate the total expenditures of transactions of individual card holders during specified periods, and to identify card holders who executed dishonest transactions. Based on three existing mechanisms, i.e. anonymous authentication, blind signature and secure statistical data gathering, together with implicit transaction links proposed here, the proposed mechanism enables development of anonymous credit card systems without assuming any absolutely trustworthy entity like tamper resistant devices or organizations faithful both to the credit card company and card holders.

75 FR 64785 - Corporate Credit Unions

Science.gov (United States)

2010-10-20

... management (ALM) and credit risk, and whether to make modifications in the area of corporate governance. NCUA... the revisions, an analysis of how the final investment, credit risk, and asset liability provisions..., credit risk, ALM, liquidity, and capital measures that together should greatly reduce the systemic risk...

12 CFR 706.2 - Unfair credit practices.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Unfair credit practices. 706.2 Section 706.2 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS CREDIT... attachment, execution, or other process on real or personal property held, owned by, or due to the consumer...

Trade credit: Elusive insurance of firm growth

NARCIS (Netherlands)

Bams, Dennis; Bos, Jaap; Pisa, Magdalena

2016-01-01

Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit

Modeling Cycle Dependence in Credit Insurance

Directory of Open Access Journals (Sweden)

Anisa Caja

2014-03-01

Full Text Available Business and credit cycles have an impact on credit insurance, as they do on other businesses. Nevertheless, in credit insurance, the impact of the systemic risk is even more important and can lead to major losses during a crisis. Because of this, the insurer surveils and manages policies almost continuously. The management actions it takes limit the consequences of a downturning cycle. However, the traditional modeling of economic capital does not take into account this important feature of credit insurance. This paper proposes a model aiming to estimate future losses of a credit insurance portfolio, while taking into account the insurer’s management actions. The model considers the capacity of the credit insurer to take on less risk in the case of a cycle downturn, but also the inverse, in the case of a cycle upturn; so, losses are predicted with a more dynamic perspective. According to our results, the economic capital is over-estimated when not considering the management actions of the insurer.

76 FR 24089 - Credit Risk Retention

Science.gov (United States)

2011-04-29

... 17 CFR Part 246 Department of Housing and Urban Development 24 CFR Part 267 Credit Risk Retention... 2501-AD53 Credit Risk Retention AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC..., Commission, FHFA, and HUD (the Agencies) are proposing rules to implement the credit risk retention...

Rare Disasters and Credit Market Puzzles

DEFF Research Database (Denmark)

Christoffersen, Peter; Du, Du; Elkamhi, Redouane

to the real economy and not to bond prices can simultaneously explain several key empirical regularities in credit markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed spreads...

40 CFR 91.1307 - Credit calculation.

Science.gov (United States)

2010-07-01

... family in kW (sales weighted). The power of each configuration is the rated output in kilowatts as....1307 Credit calculation. For each participating engine family, emission credits (positive or negative... for an engine family whether generating positive or negative in-use emission credits: ER04oc96.053...

20 CFR 227.5 - Employer tax credits.

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 1 2010-04-01 2010-04-01 false Employer tax credits. 227.5 Section 227.5... SUPPLEMENTAL ANNUITIES § 227.5 Employer tax credits. Employers are entitled to tax credits if they pay non.... The tax credits for each month equal the sum of the reductions for employer pensions in the...

ANALISIS FLUKTUASI DOLLAR AMERIKA SERIKAT TERHADAP RUPIAH DI SAAT DAN SETELAH KRISIS SUBPRIME MORTGAGE 2007 - 2013