savings and loans
Mortgage-focused banks
Savings and loans are financial institutions that traditionally focused on accepting savings deposits and making home mortgage loans.
They emerged in the 19th century to help working-class families buy homes.
The savings and loan crisis of the 1980s, when hundreds failed due to risky investments and deregulation, made S&L synonymous with financial scandal.
Today most have converted to banks or been absorbed by them.
Careful use of resources
- credit unionMember-owned financial cooperative
- building societyMember-owned mortgage institution
- financial institutionCompany managing money services
- community bankLocal financial institution serving area
member-owned · FDIC · charter · branch · teller · vault · depositor · account holder
Secured home loan
- fixed-rateInterest that stays constant
- adjustable-rateRate that changes periodically
- amortizationGradual debt reduction schedule
- underwritingRisk evaluation and acceptance
foreclosure · refinance · equity · borrower · downpayment · closing costs · escrow · preapproval
Secured home loan
- first-time buyerOne buying initially
- American DreamUS ethos of opportunity
- suburbanOf residential outskirts
- postwarAfter hostilities end
housing · affordability · middle-class · equity · refinance · homestead · property · neighborhood
Emergency aid preventing bankruptcy
- RTCPersistent timekeeping component
- deregulationRemoving governmental business restrictions
- insolvencyInability to pay debts
- failureLack of success
scandal · junk bonds · fraud · collapse · taxpayer · receivership · oversight · 1980s
Time-locked bank savings
- passbookSavings account record
- time depositFunds held until maturity
- money marketShort-term debt trading sector
- interestAttention, stake, or fee
compound · yield · APR · withdrawal · maturity · principal · dividend · accrual
thrift
Careful use of resources
- credit unionMember-owned financial cooperative
- building societyMember-owned mortgage institution
- financial institutionCompany managing money services
community bank · member-owned · FDIC · charter · branch · teller · vault · depositor · account holder · passbook
mortgage
Secured home loan
- fixed-rateInterest that stays constant
- adjustable-rateRate that changes periodically
- amortizationGradual debt reduction schedule
underwriting · foreclosure · refinance · equity · borrower · downpayment · closing costs · escrow · preapproval · origination
mortgage
Secured home loan
- first-time buyerOne buying initially
- American DreamUS ethos of opportunity
- suburbanOf residential outskirts
postwar · housing · affordability · middle-class · equity · refinance · homestead · property · neighborhood · down payment
bailout
Emergency aid preventing bankruptcy
- RTCPersistent timekeeping component
- deregulationRemoving governmental business restrictions
- insolvencyInability to pay debts
failure · scandal · junk bonds · fraud · collapse · taxpayer · receivership · oversight · 1980s · consolidation
certificate of deposit
Time-locked bank savings
- passbookSavings account record
- time depositFunds held until maturity
- money marketShort-term debt trading sector
interest · compound · yield · APR · withdrawal · maturity · principal · dividend · accrual · minimum balance
- bankingbank, banks, ATM, ATMs, account
- US bankingFDIC, Fed, national banks, bank runs, bank failures
- financial institutionsbanks, central bank, commercial banks, investment bank, investment banks
- lenderslenders, banks, mortgage lenders, commercial banks, retail banks
- Banking Historybank runs, bank failures, central banks, Federal Reserve, gold standard
- Mortgage LendersFannie Mae, Freddie Mac, mortgage brokers
savings and loanscommercial banks
For-profit lending institutions
investment banks · hedge funds · brokerage firms · credit unions · private equity
saving, savings, loan, loans, saved, savers, saves, loaned, loaning