RBI is being naive; auditors alone aren't responsible for the banking mess

The RBI strictures on auditors of public sector banks (PSB) makes one wonder if it is being naive or is looking for scapegoats, or both. It hasn't dawned on the banking regulator that the pecking order of checks and balances in banks to prevent frauds and NPAs is as follows: 1. Collaterals with sufficient
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But it would also provide an opportunity for a bank that wasn't already a player in New Zealand's mortgage lending market to start building a portfolio, taking market share from the established players. As well as providing a beachhead for new players to enter the construction industry, KiwiBuild could
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“I am considering a VETO of the Omnibus Spending Bill based on the fact that the 800,000 plus DACA recipients have been totally abandoned by the Democrats (not even mentioned in Bill) and the BORDER WALL, which is desperately needed for our National Defense, is not fully funded,” President
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Over 138,000 entities (people and institutions) flipped homes. That's the highest level observed in 10 years. The average gross flipping return was 49.8 percent versus 51.9 percent in 2016. The total dollar volume of financed home flip buys was $16.1 billion. That's also a 10-year high and an increase of
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With six months remaining in the 2018 fiscal year, the National Association of REALTORS® urges the passage of the “omnibus appropriations bill” agreed upon by U.S. House and Senate negotiators last night, which is designed to fund the federal government through Sept.
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New-home sales, tabulated when contracts get signed, account for about 10% of the market. While volatile, they're considered a timelier barometer than purchases of previously owned homes, which are calculated when contracts close and are reported by the National Association of Realtors. Purchases
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That end-to-end customer experience is through a service called mello. mello opened its HQ this week, its “Innovation Lab” as loanDepot puts is, out in Irvine, Calif. And what a launch it was. In fact, if other mortgage lenders want to claim to be in support of digital-first loan services, they'll need one of
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Per loan profits of Independent mortgage banks and mortgage subsidiaries of chartered banks fell dramatically in the fourth quarter of 2017. The Mortgage Bankers Association (MBA) reported a net gain of $237 on each loan they originated down from $929 per loan in the third quarter of 2017. As bad as
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President Trump speaks at a news conference about his decision to sign the spending bill. President Donald Trump said he has signed a spending bill funding the federal government for the next six months, reversing a veto threat he made earlier Friday that shocked Washington after his administration
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The mortgage rate dip of last week is over, with the cost of borrowing to purchase a new home increasing in the week ending Thursday, March 22. Freddie Mac announced on Thursday that the mortgage rate on a 30-year fixed loan stands at 4.45%, which is up 0.01% from last week and up 0.22% from a
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The perpetual claim of being able to open up the lending gates to customers neglected by banks continues but it still makes me wonder: how will they clean up after the mess? Will collection infrastructure be in place to curtail write-offs, or will accelerating risk mean that high pricing will need to offset risk.
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Our hunters will head into the Plains with the Barrett Fieldcraft, the company's line of lightweight rifles designed to provide maximum accuracy in a package optimized for each specific caliber. Introduced in 2016, the Fieldcraft is a representation of the company's philosophy to build the highest
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Several other institutional investors and hedge funds have also made changes to their positions in the company. Vantage Investment Advisors LLC lifted its holdings in Philip Morris International by 1.0% during the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company's
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One of the foremost retail banks in Ghana, Access Bank Ghana has entered into another strategic partnership with its long standing financial partner, FMO, the Dutch Development Bank, for a US$ 25 million facility to boost its lending capacity. A statement from the Bank said the facility which is a
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Nici Audhlam-Gardiner, managing director of lifetime mortgages at OneFamily, commented: “The lifetime mortgage market is growing and attracting a diverse group of clients who want products to suit different needs. At OneFamily we want to help advisers support the changing demographics of lifetime
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Owners who prevail in selling their homes are conceding that Manhattan's luxury market is brimming with choices, and that even well-heeled buyers are sensitive to price. Shoppers with cash are no longer bidding up properties to record levels, and sellers who recognize the new reality are the likeliest to
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Condition Precedent: trial court properly rejected motion to dismiss for failure to satisfy condition precedent of pre-litigation non-binding arbitration, required by Chapter 718, Florida Statutes, because claim for breach of fiduciary duty is excepted from the requirement. Palisages Owners' Association, Inc. v
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As a busy summer travel season approaches, AAA East Central is reminding travelers that a necessity for their trip is about to get more expensive. As of April 2, passport fees are increasing – making now the right time for potential travelers to make sure they're ready for any upcoming international trips.
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According to a New York Daily News report, the City Council Thursday unanimously approved plans to turn the former Spofford Juvenile Detention Center in the Bronx into a $300 million, five-acre campus called The Peninsula, which will include ground-floor retail and light industrial manufacturing
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DWS shares dipped 0.37 per cent from the IPO price to €32.37, while the wider German market opened around 1.9 per cent down. DWS priced slightly below the mid-point of the initial range of €30 to €36, and Deutsche Bank sold only a 22.5 per cent stake, rather then the 25 per cent initially earmarked.
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