Predatory Lender

(redirected from Predatory Lenders)

Predatory Lender

A lender who makes a loan in the hope or expectation that the borrower will default. A lender may have an incentive to commit predatory lending if he/she receives a commission for each loan made (regardless of creditworthiness), or if the lender easily can bundle and sell the mortgage to a third party, passing on the risk while still profiting. A predatory lender may be an individual or institution. Predatory lending is illegal in many jurisdictions, though the exact definition may vary from place to place.
References in periodicals archive ?
troops from being taken advantage of by predatory lenders.
It's clear that House Republicans are more interested in protecting predatory lenders than our service members and their families," DCCC spokesman Matt Thornton said.
She oversaw cases against predatory lenders, challenged unfair debt collection practices, and pursued employers for nonpayment of wages.
According to her, more money in the pockets of hard-working Texans, would protect them from predatory lenders and enhance the state's economy.
Some people claim that high mortgage default rates, which helped crash the economy in 2008, were the fault of predatory lenders who approved risky housing loans to unqualified buyers, but a study of an anti-predatory lending program in Chicago found that the program brought down default rates only modestly, while causing major disruptions in the market.
Newcastle CAB is taking part in a month-long campaign urging payday loan customers not to let predatory lenders get away with treating them unfairly.
Early supporters of the MLA cited the fact that the military lacks the financial education necessary to borrow money responsibly, and thus they were targeted by predatory lenders.
The charity has launched a month-long campaign calling for payday customers "not to let predatory lenders get away with treating them unfairly".
Birmingham City Council is at the forefront of the national initiative in tackling unlicensed money lenders, and is working on initiatives to provide advice and assistance to individuals who may be targeted by predatory lenders.
The National Cooperative Business Association (NCBA) has a community development initiative that is launching with a program to certify credit union staff as financial counselors, ready to protect their most vulnerable members from predatory lenders.
Merkley is right to target predatory lenders who have a rat-like propensity for survival.