Citi has openings for a variety of business tech specialists, credit underwriting managers, and senior compliance analysts, to name a few.
Moreover, companies boasting good credit still borrow when risk flows freely while less worthy borrowers obtain credit after underwriting spigots tighten.
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The loan is subject to credit and underwriting approval.
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Since the credit crisis, underwriting standards have improved and these PIK loans are no longer available.
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Banks must already adhere to stricter underwriting standards for credit cards and mortgage loans and will soon face higher capital and liquidity requirements.
Fremont was among the worst of the subprime offenders, using all the now familiar practices: targeting people with bad credit, ignoring traditional standards for underwriting home loans, paying third-party brokers handsomely to bring in gullible customers, and then infecting the larger financial system by selling off the hazardous loans.
These take many forms: underwriting and registration fees, credit-rating costs, taxes and the time it takes to bring a bond to the market.
The overall trends were helping people find better ways to manage their finances, and improving credit, either through better loans or underwriting.
They have been forced to significantly pare down their main credit card offerings because they lack the underwriting sophistication to adjust to the new environment.
Such a move could make those customers a more-favorable credit risk according to the bank's own underwriting standards, or it could deter the customer from staying with the bank.
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Information describing employment, income and assets are tendered during a telephone interview, an electronic file is created, a credit report is secured and an algorithm delivers an automated underwriting decision.
The housing market has begun a long, slow process of recovery, but it remains hobbled by the many people who owe more than their homes are worth, by toughened underwriting standards, and by a reluctance among private lenders to extend credit without a federal guarantee.
An insurance company, for example, could hone its underwriting expertise and deliver this as a web service, while buying in credit-rating, human-resource or news services from other providers.
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