Kendall Realty Advisors LLC

Kendall Realty Advisors LLC
National Affordable and Market Rate Rental Housing Lender

Tuesday, July 10, 2012

LIBOR MANIPULATING why it matters "A cesspit. Paul Tucker deputy governor of the Bank of England

LIBOR the London Inter Bank overnight rate -  the world wide short term lending and floating rate lending rates are based off of LIBOR, it effects credit card, rates, student loans, corporate loans, commercial loans and bank lending rates in America and World wide.
Faced by a throng of sound-bite-hungry British Parlamentarians, on Monday Mr. Tucker did a convincing job of rebuffing allegations that the authorities had put pressure onBarclays BARC.LN +2.69% PLC to manipulate Libor, the world's most important interest rate.
Mr. Tucker may, in the process, have saved his chances of taking the helm at the British central bank (but more on that later) while providing a pithy description of the scandal.
Not as pithy, mind you, as the oft-stated "no jerks" policy espoused by Robert Diamond before he was ousted as Barclays' chief executive over the Libor mess. Unfortunately, some derivatives traders and interest-rate setters at the U.K. bank never got Mr.Diamond's message.
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    About Us:

    Our knowledgeable team has worked in the mortgage banking/investment banking industry for the past 24 years specializing in healthcare lending, multifamily housing, FHA and FNMA insured loans. Throughout our careers, we have originated and/or underwritten in excess of $745,000,000 in mortgage loans with a focus on acute care hospitals, assisted living facilities, senior housing, and skilled nursing facilities. Previously our team has worked for several NY-based investment banking/mortgage banking firm specializing in conventional and government-assisted loans. Chuck has been president of a FHA mortgage company and a developer. Scott was the VP of Origination for several FHA and FNMA lenders. He has extensive experience working on affordable housing as the Midwest Loan Officer for FNMA Multifamily Affordable Housing Products. We understand that the integrity of the loan officer for the loan quote and rate pricing can make a huge difference for FHA clients.

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