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Education Department Seeks To Ease College Loan Rules For Those With Troubled Credit Histories | Star Tribune

Digest - Memphis Daily News

Therefore, Fitch applied a penalty of approximately 1.18x to the pool's lifetime default expectations to account for this risk. RATING SENSITIVITIES After Fitch determines credit ratings through a rating stress scenario analysis, additional sensitivity analyses are considered. The analyses provide a defined stress sensitivity to demonstrate how the ratings would react to steeper MVDs than that assumed at issuance as well as a defined sensitivity that demonstrates the stress assumptions required to reduce a rating by one full category, to non-investment grade, and to CCCsf'. In its analysis, Fitch considered additional sMVD stress assumptions to those generated by the SHP model. These supplementary scenarios reflected base case sMVDs that aligned Fitch's 'Asf' sMVD stress assumptions with peak-to-trough MVDs experienced in the U.S. during the recent financial crisis (2007 - 2009). This is consistent with Fitch's view as described in its U.S. RMBS Loan Loss Model Criteria (dated December 2013, available on its website at www.fitchratings.com ) which associates the recent national housing recession and related performance observations with an 'Asf' stress. The result of this sensitivity analysis was included in the consideration of the loss expectations for this transaction. The sensitivity analysis resulted in a base sMVD of 19.4%, compared with the model projected 22.2%.
Puedes ver la version sin traducir en http://finance.yahoo.com/news/fitch-expects-rate-morgan-stanley-195600917.html

Portugal cuts state bailout for BES to 3.9 bn euros - Yahoo News

New rules would ease restrictions on college students seeking loans from the government's direct loan program. The change would let people get loans more easily even if they have up to $2,085 in debt that is in collections or has been written off by creditors, and it would shorten the length of time their history of such bad debt is scrutinized from five years to two. Currently, students with that much "adverse debt" are automatically denied, though they can appeal and get loans if they demonstrate extenuating circumstances. Such borrowers may be required to have loan counseling. The five-year "lookback" would continue to apply to more serious credit problems like bankruptcy and foreclosure. The department said about 370,000 more borrowers would clear the government's credit check under the new standards. "These changes allow us to continue to be good stewards of taxpayer dollars and open the doors of college to ensure all students have the opportunity to walk through them," Education Secretary Arne Duncan said. The current credit history rules haven't been updated since the so-called PLUS loan program was established in 1994. The rules would also tighten the definitions of whether an applicant has loans in collection or that have been written off by creditors, which the department says will provide a fairer evaluation of whether they have a bad credit history. The department expects to make the rules final by November, which means they would take effect for the fall of 2015.
Puedes ver la version sin traducir en http://www.startribune.com/politics/270334421.html

Fitch Expects to Rate Morgan Stanley Residential Mortgage Loan Trust 2014-1; Presale Issued - Yahoo Finance

So far, it is a discussion item among school board members and Lakeland city commissioners. The preliminary estimate for such a school is $50 million, which would probably mean a property tax increase in the city. Lakeland implemented its first property tax in advance of forming its own school system. Part of the discussion is whether such a tax hike would be approved by Lakeland commissioners or by voters in a referendum. Lakeland leaders acknowledged earlier this year that they would probably begin making plans for another school. Lakeland children in middle and high school now attend classes in Arlington and Bartlett under agreements among those systems. Collierville school board members voted earlier this year to begin a preliminary look at a new high school in Collierville to meet demand there. The shift would create space for Collierville teenagers who attend Houston High in the Germantown Municipal Schools District under an agreement between the two systems. Bill Dries Lawsuit Over Nineteenth Century Club Dropped The Union Avenue building that once housed the Nineteenth Century Club could soon meet the wrecking ball. A plaintiff seeking to stop the planned demolition of the once-stately mansion has dropped the appeal of a lawsuit challenging the legality of the sale of the property, removing a major obstacle to its proposed redevelopment.
Puedes ver la version sin traducir en http://www.memphisdailynews.com/news/2014/aug/8/digest/

. Lisbon (AFP) - Lisbon will cut its bailout for stricken Portuguese lender Banco Espirito Santo to 3.9 billion euros thanks to contributions from the financial sector, Finance Minister Maria Luis Albuquerque said Thursday. The state had initially pledged 4.4 billion euros ($5.9 billion) in aid as part of a 4.9 billion euro rescue package for BES announced on Sunday in a bid to stop its collapse plunging the fragile economy into further crisis. "The state will grant a loan, which now is limited to 3.9 billion euros because the banks wanted to take on their responsibilities in a more direct and immediate manner," the minister said in parliament. "The repayment of the loan to the Treasury and taxpayers will take place, no matter the time or the amount for which the new bank will be sold," said Albuquerque. "The responsibility belongs exclusively to the financial sector," she added, adding that the loan will be paid back in the next two years. BES, once one of Portugal's largest lenders, was in dire straits after reporting a record loss last month, while three of its parent companies had filed for bankruptcy amid allegations of accounting fraud. View gallery Portugeuse Minister of State and Finance Maria Luis Albuquerque sits before the Parliamentary Standi On Sunday it was announced it will be split into two banks: Novo Banco will take the capital injection and all of the bank's viable assets, while the so-called "bad bank" BES will house all of its toxic assets. The opposition had alleged that rescuing the bank could place a fresh burden on taxpayers already struggling with austerity measures imposed during the eurozone debt crisis. Other Portuguese banks on Tuesday proposed to increase their contribution to the rescue fund to 635 million euros in the hope that the new bank will be able to be sold faster to pay back the state.
Puedes ver la version sin traducir en http://news.yahoo.com/portugal-cuts-state-bailout-bes-3-9-bn-181018157.html

Robinho returns to Brazilian club Santos from AC Milan on season-long loan | FOX Sports

"This is my home," Robinho said on the Santos website. "It's a place where I feel very good and where I came into the world of football. I hope to repay the affection of all the fans on the pitch. I want to put Santos back where they should be, at the very top of the table." Robinho had an injury-hampered season in Milan last year as the Rossoneri stumbled to an eighth-placed finish. FOX Soccer's Blog offers unique coverage of the world game. Join us. The 92-cap Brazil international is under contract with the Italian giants until June 2016 but had expressed his wish to leave the San Siro outfit this summer after four years at the club. He had been expected to join compatriot and former Milan team-mate Kaka at new MLS franchise Orlando, but Santos were keen to secure a fan favorite. "When we started the negotiations we knew the importance of the player both for the club and for the fans," said Santos sporting director Andre Zanotta.
Puedes ver la version sin traducir en http://www.foxsports.com/soccer/story/robinho-returns-to-brazilian-club-santos-from-ac-milan-on-season-long-loan-080714

Former wine collector gets 10 years in prison for counterfeiting - Yahoo News

A link has been sent. Done Former wine collector gets 10 years in prison for counterfeiting By By Andrew Chung 4 hours ago 0 shares Done By Andrew Chung NEW YORK (Reuters) - An Indonesian man, once considered one of the world's top wine collectors but who U.S. prosecutors later called a "kingpin of counterfeit" for selling millions of dollars of fake French wine to the wealthy, was sentenced to 10 years in jail in Manhattan federal court on Thursday. Rudy Kurniawan used his refined palate and luxurious lifestyle to hoodwink some of the world's most discriminating oenophiles with his "bold, grandiose, unscrupulous, but destined-to-fail con," U.S. District Judge Richard Berman said in imposing the sentence, along with $28.4 million in restitution to compensate seven unsuspecting buyers. The sentence would serve as a deterrent to other counterfeiters, the judge said. "The public at large needs to know that our food and drink are safe and can trust what's on the label," Berman said, "and not some potentially unsafe, homemade witch's brew." Kurniawan, 37, was convicted by a federal jury last December of one count of mail fraud for creating and selling counterfeit wines and one count of wire fraud for defrauding a financing company in connection with a $3 million loan. Prosecutors were seeking a prison sentence of 12-14 years, while Kurniawan had requested time served. He has already spent 29 months in custody. At Thursday's hearing, Kurniawan told the judge he was sorry, and said he wanted to be able to take care of his mother, who is in poor health. Berman said his victims lost close to $30 million as a result of the scheme, which took place between 2004 and 2012.
Puedes ver la version sin traducir en http://news.yahoo.com/former-wine-collector-gets-10-years-prison-counterfeiting-182805444.html

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