Jusen

Jusen

Non-bank financial institutions in Japan that made mortgage loans. Jusen were created in the 1970s as subsidiaries of banks. Excessive lending by jusen in the 1980s contributed to Japan's real estate bubble. Several received bailouts in the 1990s but they nevertheless ceased operations in 1995.
References in periodicals archive ?
Jusen to nokyo [Housing loan companies and the agricultural cooperatives].
The group picked up new members after the jusen housing loan scandal began to unravel in the mid-1990s.
The jusen, private nonbank financial firms dedicated to mortgage and real estate lending, were the first large institutions to visibly collapse under the cycle of bad loans, depreciating collateral values, and credit contraction, feeding further local SME business collapses and bad loans.
Additional declines in land prices, however, deteriorated the condition of the jusen further.
When property prices fell, the jusen had been left with collateral that was worth much less than their original, outstanding loans.
The Japanese Parliament, the Diet, soon enacted bills to create the Japanese Resolution Trust Corporation (JRTC) and the Housing Loan Asset Management Institute that will resolve the real estate portfolios of failed credit cooperatives and jusen, the housing loan companies.
Japanese banks continue to struggle with huge portfolios of problem loans, including loans made to seven jusen, or bank-affiliated housing loan companies.
The financial press and regulatory authorities have focused on the bank nonperforming loans held by banks and housing loan companies or jusen.
Recently, the Diet passed legislation to create the Japanese Resolution Trust Corporation (JRTC) and the Housing Loan Asset Management Institute, two agencies charged with resolving the real estate portfolios of failed credit cooperatives and jusen, which are housing loan companies.
Before 1636, the Tungusic tribes that Nurgaci had united under his rule were collectively known as the Jusen which is the native Manchu form of the ethnonym Jurchen.
decided in March 1996 to give up its claims against JHL totaling about 376 billion yen on condition that the housing loan firm transferred its operations by the end of that year to an organization handling the jusen issue.
The lending practices and resultant losses of several jusen had stirred a public outcry in the early 1990s.