649,752 research outputs found

    Fall-out dust levels around two enterprises in the Western Cape of South Africa from 2001 to 2005

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    ABSTRACT Looking up at the sky, we would never guess that our atmosphere contains between one and three billion tons of dust and other particles at any given time.1 Wind assists in keeping this dust airborne, but gravity wins most of the time, forcing the dust particles earthward, proving the old adage: “what goes up, must come down.” Precipitant dust levels in the Western Cape do not follow the same pattern as the precipitant dust levels in the summer rainfall areas of South Africa. Due to the very dry summer conditions in the Western Cape, the precipitant dust levels can be very high, especially if sources of fugitive dust are ignored. An environmental consulting company positioned precipitant dust monitoring units at strategic locations, taking process and open dust sources into account. Both wet and dry depositions have been reported on in this report as one figure. Seasonal changes in, and long-term trends of, the amount of precipitant dust were documented and statistically analysed to determine if the precipitantdust levels were above the South African legislated action levels. The particle size analysis performed on the precipitant dust indicated that the dust was predominantly less than 100_μm and that about 22 percent of the particles by volume were under 15_μm. No significant decline in the precipitant dust levels around the calcining industry was noted. Recommendations are that they increase the dust control measures on site, especially near to the DHF sampling location. There was a significant decrease in the precipitant dust levels to the north and south of the smelting industry from October 2001 to April 2005, p-value 0.005 and 0.048. The recommendations for the smelting industry are that they continue to eliminate fugitive dust sources and that they continue to maintain a high awareness of dust control

    Subprime Lending: the Rotten Core of the Current Economic Crisis

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    Subprime lending has triggered a global financial crisis, but it remains misunderstood. Here are some basic facts, culled from an upcoming report on abandoned housing by the Partnership for the Public Good. Subprime loans are high cost loans, ostensibly designed for people with less than “prime” credit. In reality, mortgage brokers and lenders often succeed in selling subprime loans to people with good credit. According to the Wall Street Journal, by 2006, fully 61% of subprime loans were going to people who qualified for conventional loans

    THE COST STRUCTURE OF MICROFINANCE INSTITUTIONS IN EASTERN EUROPE AND CENTRAL ASIA

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    Microfinance institutions are important, particularly in developing countries, because they expand the frontier of financial intermediation by providing loans to those traditionally excluded from formal financial markets. This paper presents the first systematic statistical examination of the performance of MFIs operating in Eastern Europe and Central Asia. A cost function is estimated for MFIs in the region from 1999-2004. First, the presence of subsidies is found to be associated with higher MFI costs. When output is measured as the number of loans made, we find that MFIs become more efficient over time and that MFIs involved in the provision of group loans and loans to women have lower costs. However, when output is measured as volume of loans rather than their number, this last finding is reversed. This may be due to the fact that such loans are smaller in size; thus for a given volume more loans must be made.http://deepblue.lib.umich.edu/bitstream/2027.42/40195/3/wp809.pd

    Policy and Practice Brief: Effect of Defaulted Student Loans on Return to Work Efforts

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    This brief describes types of student loans that exist and effects or defaulted student loans on individuals benefits. Reviewed are increased efforts to collect on defaulted student loans as well as remedies to take a loan out of default

    Alternative Small Dollar Loans in Illinois: Creating sound financial products through regulation and innovation

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    Short term, small dollar loans are often a temporary necessity for many consumers trying to make ends meet. Unfortunately, the current market is primarily limited to payday loans. In Illinois, nearly 1.2 million payday loans were issued between 2006 and 2008.The mechanism for providing small dollar loans continues to be debated. Payday lenders claim that they provide a needed product and service to those underserved by other mainstream financial institutions. Consumer advocates, however, contend that payday loan products are predatory and should be regulated. Alternative small dollar loans products and other innovative mechanisms for meeting consumer demand must be explored. This brief provides an overview of the ASDL landscape in Illinois

    Subprime Lending In the Primary and Secondary Mortgage Market

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    This article provides an exploratory analysis of the role of subprime lending through an examination of the spatial distribution of Federal Housing Administration (FHA)—eligible home purchase loans in the primary and secondary mortgage markets. Loan originations are aggregated to the metropolitan statistical area level to examine the proportion of the market served by FHA, prime, and subprime lenders. The article then examines whether subprime lenders hold their loans in portfolio or sell them to private conduits. Primary market results indicate that subprime lenders are more active in cities with worse economic risk characteristics. Secondary market results indicate that although subprime lenders sell most loans, they are more likely to hold loans in portfolio when economic risks are improving in historically high-risk locations. Finally, when more loans are originated in underserved census tracts, subprime lenders are much more likely to hold loans in portfolio

    Banking System, Real Estate Markets, and Nonperforming Loans

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    This paper examines the link between nonperforming loans, real estate prices, and the banking system. We found that the level of nonperforming loans affects bank profitability as well as the price performance of real estate markets. We also analyzed the factors that cause the ratio of nonperforming loans to total loans to fluctuate. We observed that a higher ratio of corporateloans to individual loans results in a lower percentage of nonperforming loans. In contrast, a lower real estate lending rate relative to the primary lending rate leads to a higher percentage of nonperforming loans. These results suggest that the percentage of nonperforming loans can be partially governed by the lending practices of banks.Nonperforming Loans, Real Estate, Banking System

    Hunting Down the Payday Loan Customer: The Debt Collection Practices of Two Payday Loan Companies

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    Examines the court records of borrowers taken to court by two companies now offering payday installment loans. These loans, which were made before the Payday Loan Reform Act (PLRA), show the types of abuses and aggressive litigation borrowers can expect from these companies currently offering loans designed to circumvent the law

    Fast Cash, Less Refund

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    This paper presents findings on the use of refund anticipation loans in North Carolina in 2007. Refund anticipation loans are high-cost, short-term loans made to tax filers who are owed a refund on their federal taxes. Calculations of APRs for these loans (RALs) can run above 150 percent on an annualized basis. The loans are used by people who are cash-strapped. Loans cost approximately $100, but they allow filers to get their taxes done without paying for their tax prep fees until their refund arrives. The transaction features make this an appealing product to poor working families. Accordingly, their use is highest in areas with high concentrations of poor working families. Our report uses data from the Internal Revenue Service. We focus on North Carolina. The quantitative research is supplemented with a market analysis of these loans. We note that the banks that provide a line of credit to these banks are suddenly constrained. Regulators have intervened to limit these loans. Their concerns include the safety and soundness of the deposits, as well as the inability of the bank partners to document that tax preparers are trained and in compliance with the Equal Credit Opportunity Act, the Fair Lending Act, and the Truth-In-Lending Act. We find that RALs are disproportionately utilized by tax filers in low-income and minority communities. We note that most of these filers qualify for a refund because they get the Earned Income Tax Credit. We compare the use of a RAL with IRA contributions. The report is complemented by GIS mapping
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