Posts Tagged: loans

New Student Loan Default Study

Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting.

New data suggests that many popular perceptions of student debt are incorrect. The huge run-up in loans and the subsequent spike in defaults have not been driven by $100,000 debts incurred by students at expensive private colleges. Instead, they are driven by $8,000 loans at for-profit colleges and, to a lesser extent, community colleges. Borrowing… Read more »

More Woes in Greece

Posted by & filed under Accounting Information Systems, Accounting Principles, Auditing, Cost Accounting, Financial Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

Greece will close its banks on Monday to try to avert financial collapse. The anticipated closure is expected to last about a week. This temporary decision was made along with keeping the stock market closed on Monday after the European Central Bank said it would not expand an emergency loan program to prop up Greek… Read more »

The Clock is Ticking!

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A new legal quirk could bring a surreal ending to foreclosure casess around the country; the debtors may get to keep their homes without ever having to pay another dime. Questions: 1. Why might tens of thousands of homeowners who have missed more than five years of mortgage payments get to keep their homes without… Read more »

Credit Unions for Pot?

Posted by & filed under Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting.

Since medical marijuana was legalized in Colorado in 2001 and recreational marijuana was legalized a year ago, sellers have had limited, if any, access to banking services. As a result, a group of other entrepreneurs in Colorado want to start the first-ever financial institution established specifically to serve the pot industry. Questions: 1. What are… Read more »

Pop Goes the Bubble!

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According to the New York Times, the drop in oil prices are dimminishing one of the few big bright spots that banks have enjoyed since the financial crisis. The reason is that banks have been experiencing a lending boom to companies in the nation’s energy industry. Questions: 1. Which banking group has the greatest investment… Read more »

Can you beat Nate Silver?

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ESPN’s Nate Silver went on Sportscenter this morning and revealed his favorites for the Final Four. The prediction: • Louisville (#4 seed, Midwest region) • Florida (#1 seed, South region) • Arizona (#1 seed, West region) • Michigan State (#4 seed, East region) These are the favorites in each region according to Silver’s statistical model…. Read more »

Double-Dipping Pain

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

Many homeowners are being taken to court by their lenders long after their houses were taken in foreclosure. How? Lenders are filing new motions in old foreclosure lawsuits and hiring debt collectors to pursue leftover debt, plus court fees, attorneys’ fees and tens of thousands in interest that had been accruing for years. Questions: 1…. Read more »

Pension Advances to be Scrutinized by Congress and the Consumer Financial Protection Bureau

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This New York Times article discusses the allure of borrowing against pensions, which underscores an abrupt reversal in the financial fortunes of many retirees in recent years. The offers, known as pension advances, are having devastating financial consequences for a growing number of older Americans, both threatening their retirement savings and exacerbating mounting debt within… Read more »

Super Hero Strength

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The Associated Press reports that three of the five hospitals treating victims from the mass shooting will waive or limit medical costs. Children’s Hospital Colorado will use donations and a charity fund to cover the expenses of uninsured victims, and waive co-pays for the insured. Questions: 1. According to the article, about how much has… Read more »

Another Loan Modification Nightmare!

Posted by & filed under All Articles, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, IFRS, Intermediate Accounting, Video Updates.

When will these stories end? Lily Washington started a loan modification process with Bank of America (BoA). However, shortly thereafter her son was injured in Iraq and she had to travel to a military hospital in Germany to be with him. Although she had notified the bank and received a written response that they would… Read more »