Organizations That Impact Mining Industry Essay - 1

Associations That Impact Mining Industry - Essay Example security and wellbeing organization), SME (Society of Mining Industry), NIOSH (National Institute of Occupational Safety and Health), NMA (National Mining affiliation), EPA (Environmental Protection Agency) and the Sierra Club. This paper will concentrate on how these foundations work and the noteworthiness of these establishments for the mining business (Woodard 416). The reason for MSHA is to guarantee and ensure the miners’ of USA and the network from wounds, sicknesses and passings caused because of mining exercises. As indicated by Mine Act, the capacity of the MSHA is to assess surface mines for two times per year and underground digs for multiple times every annum. This review is led by the assessors of the MSHA, they lead this overview to guarantee that the mines are created in agreement to the rules gave by the Mine Act and the mine proprietors and administrators are following the principles proposed by the mine Act. The Act further requires the investigators of MSHA to give a request to the administrators of the mine in the event of rebelliousness with the Mine Act (MSHA, 2012). SME includes eight distinct divisions and every division is made to serve to the greatest advantage of the individuals from SME. Individuals from these divisions incorporate understudies just as expert architects. The capacity of SME is to carry headway to the network of minerals with the help of sharing data and creating experts. SME itself is a part association of American Institute of Mining which was made during the time of 1871 by few coal diggers. SME gives data to its individuals and participates in the advancement of its individuals by furnishing them with specialized companion checked on diary articles, facilitating workshops, authorizing universities and giving instruction to the regular open. Understudies of the building field can profit through SME in a few different ways (SME, 2012). They need to follow through on limited cost to turn into an individual from the association and with this participation they

Work Ethics in Children an Example of the Topic Economics Essays by

Hard working attitudes in Children Training a hard working attitude is significant. We have a ton of grown-ups, who don't show a solid awareness of other's expectations, which is the reason for a decent working mentality. Desires that are formatively reasonable give youngsters the feeling of accomplishment, which is simply the premise to manufacture regard. Whenever we neglect to give chances to genuine work, we are denying offspring of the chance to develop which is a significant viewpoint in ones life. Need article test on Hard working attitudes in Children subject? We will compose a custom article test explicitly for you Continue Children (and even adults) will in general oversee duties better when there is a timetable. At the point when everybody realizes what ought to be done before they go out in the first part of the day, what occurs at dinnertime, what must be done before the day's end on Saturday, it is all considerably more conceivable to occur. In the event that, for instance, you organize the possibility that beds are to be made before everyone goes out on their day by day tasks, you dont need to discuss it any longer. Its only a piece of the example of the day. In the event that everybody knows already what their Saturday morning task is, you dont need to experience a week by week quarrel about who will do what. Guardians ought to recall not to tragically relieve children of all tasks since they have schoolwork, tennis, and move practice. There will consistently be different things that appear to be more essential to do than the housework. Show the kids how to adjust their time, work in schedules, and how to be contributing individuals from the family. It will be smarter to think about the outcomes before hand, maybe at a similar gathering where you have designated who would do what. Ask the children what they think would be a sensible method to manage individuals who doesnt complete a lot of work. For the most part, when really asked, youngsters concoct far harder results than the guardians would. Bring them down to something handy and reasonable. On the off chance that you find that the outcome all of you have set doesnt work, dont get frantic. Assemble another conference, and make a survey of how the family needs to deal with the issue. Sharing work additionally implies sharing crafted by making sense of how the work best completes. At the point when everybody enthusiastically takes an interest in family unit tasks, the work completes without overburdening any one individual from the family, and has everybody liking themselves. For kids and teenagers, school is their fundamental employment. Families affect how understudies feel about homework, participation and execution. Grown-ups who pay attention to their work by day by day participation, instantaneousness, and finish on work duties will think that its simpler to establish a connection upon understudies the hugeness of their homework. Its never too soon to make an uplifting viewpoint towards school and the work that accompanies it. Making a Schoolwork Ethic: Talk regularly to youngsters about the significance of school. Put forth for them that it is a fundamental concern and that, while fun and diversion are significant, they should hold up until school duties are met. While no kid ought to ever go to class sick, guardians should set the desire that kids need to go to class each planned day except if they are genuinely sick or a crisis emerges. Permitting understudies to play hooky for a slight diseases, for routine arrangements, or for shopping or different exercises sends the message that school isn't an occupation to be paid attention to. Upholding a sensible routine sleep time guarantees that the youngsters will be very much rested for the following days work. Show enthusiasm for your childs school understanding. Guardians ought to go to all school gatherings, become acquainted with the educators, and much of the time get some information about school exercises, companions and studies. Tell the children that you give it a second thou ght and that you anticipate that them should put forth a valiant effort. On the off chance that they are having any troubles, offer to support them or to discover other people who can help. While theres no assurance that your kids will consider school to be significant on the grounds that you need them to, the odds that they will build up a positive homework ethic are expanded if your words and activities bolster school as a need. Teaching hard working attitudes in kids: Guardians ought to endeavor hard to give kids many differed chances to find out about their reality. Guardians can utilize discussion, discourse, film, and books to impart much of the time and finally with kids. Plan and execute a fitting educational program for the youngsters, to assist kids with learning constantly and all over the place. Feature and model the conduct you need youngsters to show. Show esteems for all intents and purposes and show practices that are imperative to youngsters. Guardians should investigate their own perspectives about family unit assignments. Ensure that grown-ups and kids the same, does a decent amount of work. At whatever point conceivable, do errands together. Tasks ought to be made daily schedule and normal. Make results an exercise in correspondence. At the point when everybody at home aides, there will be a great opportunity to do things that individuals need to do. Guardians should make a decent attempt to impart some basic hard working attitudes in kids, for instance, Punctuality, collaboration, demeanor, participation, character, appearance, efficiency, appropriate correspondence, regard and different abilities. Utilizing these character characteristics in your kids all through his youth, improves the confidence of the youngster, and will help him over the long haul. Compensating kids for coming clean, setting elevated expectations for homework, requesting dependability and right participation, and expecting them to finish on duties, make the kids progressively mindful of their obligations. Every second you spend preparing your youngster in these characteristics actually pays off later on. In a world that excels through situational morals, guardians should enable their youngster to stand apart by instructing them to carry on with a dedicated life. Show the youngster that building up a notoriety for genuineness and unwavering quality with bosses just as individual workers is the manner by which to turn into a genuine progress. ( Teaching hard working attitudes, http://www.aop.com/enews/hsview/09.07.06/ethics.php). References Imagine a scenario where a Work ethic starts early, December 12, 2006, Exchange Everyday. Marie Hartwell-Walker, December 12, 2006, Teaching a hard working attitude, Psych Central, Betty Lou Barsley-Marra, Parenting Again, September 2006, Teaching hard working attitudes, Home School View.

Books Guaranteed to Bust Your Reading Slump

Books Guaranteed to Bust Your Reading Slump Weve all been there: the dreaded reading slump. Reading slumps can seem intolerable since they go on forever and you never know how youll make it through (or if, ugh). But then somehow you find a magical book that jolts you out of it. Even Rioters are not immune to the book slump. For everyone who is out there now in reading slump land, here are some of Book Riot writers all-time favorite guaranteed slumpbusters. Who you going to call?  Slumpbusters! Ex Libris: Confessions of a Common Reader by  Anne Fadiman It took me a while to figure out I couldn’t cure my reading slump with just a good novel. I had to fall in love with reading again. Anne Fadiman’s short (162 pages) memoir that compiles essays about her lifelong passion for reading jolted me out of my slump by helping me remember how much I love to read and how meaningful books have been for me over my life. I read it the first week in January a few years ago, and it was a refreshing spark that lasted through a whole year of reading. I would recommend it to anyone looking to get out of a slump and back in touch with their relationship to reading. â€"Sarah S. Davis When Dimple Met Rishi by  Sandhya Menon Not only did this book get me through a reading slump, it got me through the 2016 U.S. Presidential election. The book should get a gold-star for that alone. It is completely delightful and lovely with a main character, Dimple, who I alternated between wanting to hug, befriend, mentor, and shrink in order to keep in my pocket because she’s just so great. If rooting for a lovely, smart, independent character while also laughing is what your life needs right now, let Dimple, and Rishi, bring some joy into your life and get you back to getting lost inside a book.â€"Jamie Canaves One Day We’ll All Be Dead and None of This Will Matter by Scaachi Koul Some people have slumps between long spells of reading, but of late I’ve only been having standalone books which I’m able to complete between months of DNFing everything in sight. Scaachi Koul’s memoir was hilarious and excellent. Her writing flows in a way that compellingly pulls you in regardless of how shitty a day you’ve had or how much is on your mind. It’s one of the most honest, genuine books I’ve read in a while, and it was a great reading slump breakthrough for me. I read it in one sitting, but it’s also a good pick to keep in your bag for rereads or reading on your commute.â€"Deepali Agarwal Trigger Warning by Neil Gaiman I go back to Neil’s introductions to remind myself that stories can still happen, to read and to write. Trigger Warning is an inspiring piece of work, showing his various collected short stories and poems, running the gauntlet from melancholy hope to downright horror. There’s even some black comedy with a short story about a tanning cream that changes the narrator’s older sister. This collection gives me the courage to try new books, to find more words before I forget them.  â€"Priya Sridhar The Vanderbeekers of 141st Street by Karina Glaser My normal reading slump strategy is to re-read an old favorite; nearly any old favorite will do, and the longer it’s been a favorite, the betterâ€"which means I often re-read books for younger readers. But I busted this slump, which is sort of an ongoing state of being as a woman living in the world in 2017, with a new favorite, which happens to be a book for younger readers. Fellow Rioter Karina Glaser managed to capture everything that I love about so many middle grade books of my youth, all in one lovely, modern story about a family of nifty kids. Guaranteed feel-good slumpbusting, with a side of feelings. â€"Annika Barranti Klein   This is How You Lose Her by Junot Díaz I find myself returning to Díaz’s writing whenever I’m in a reading or writing slump. There’s something about his language and the way that his voice comes to life that centers me creatively. This is How You Lose Her is his second collection of short stories and his most recent book. The first paragraph of the first story is enough to drag you in and keep you there.â€"Rachel Wagner   The Goose Girl by Shannon Hale I was a voracious reader as a kid, but in high school I got bogged down by the increased pressure of assignments, grades, and reading thick classics for English class. I feared that books had lost their magical ability to transport me out of my head and into another world. When I picked up The Goose Girl, though, I couldn’t put it down. I was enraptured by the beautiful prose of this YA fantasy about Ani, a humble princess who can speak to animals but gets tongue-tied around people. I procrastinated on my homework to see how Ani overcomes a mutiny and stolen identity. When I finished, I had fallen in love with the power of a good story all over again.â€"Emily Polson The Giver by Lois Lowry When I’m in a true reading slump, I search for comfort. I search for the known. I search for the first book that sparked that desire to consume every book I come in contact with. I need something to remind me of that feeling where you literally can’t bring yourself to put a book down. Where you spend your day at work thinking about getting back home so you can finish. And for me, that book is The Giver by Lois Lowry. For me, slumpbusters have to be a quick read that is highly engaging, and The Giver fits both of those requirements. I’ve also found in general that middle grade or young adult books are a great way to break myself out of the dreading reading slump.â€"Elizabeth Allen Anything by Agatha Christie Reading anything by the Queen of Crime usually snaps me right out of a reading slump. Even if it’s a book of hers I’ve read before, I’ve probably forgotten who the murderer is, and it’s always fun to guess. There’s something comforting about Christie’s formulaâ€"strangers gathered together, including at least one spinster and one retired general; a country house, a train, or a small village; a very effective poison. Stir all and combineâ€"that makes me remember that there’s nothing better than settling in and finishing a book in one sitting. Some of my favourite Christies to beat a slump: Murder on the Orient Express, The ABC Murders, and anything starring Miss Marple.â€"Kathleen Keenan Steampunk Romance When I’m in a slump, it’s usually because I need something light and energizing to read, and for me that seems to mean steampunk romance. Gail Carriger, Bec McMaster, and Meljean Brook are my go-tos. They balance adventure, romance, travel, and dirigibles in a way that always lifts me out of my slump and reminds me of what I love about reading.â€"Aimee Miles A Lover’s Shame by AlTonya Washington When I am in a reading slump, I have to read a familiar favorite, which is usually anything by AlTonya Washington. Her Ramsey/Tesano saga is one that I never tire of rereading. Isak and Sabellas story in A Lovers Shame is one that I know by heart and is filled with Washingtons signature threads of mystery, betrayal and sensual romance. This book is also the culmination of one half of a saga and the beginning of another dangerous one. The way the suspense and romance weave seamlessly together in this novel always rejuvenates me and helps to take me out of my slump. â€"Natalya Muncuff

Written And Oral Communication Skills - 1223 Words

Written and Oral Communication Skills Criminal justice is an area of justice which functions in view of on the tremendous increase in criminal activities (Levine, 2002). The technological development has fueled savvy in the organization and the rates of committing crimes. In light of this, there are numerous job opportunities that require people who are qualified in criminal justice to help curb this menace. Other than the technical skills, they also require the potential candidates to have relevant writing and communication skills. These skills are emphasized on each job vacancy regarding criminal justice; hence, this paper outlines the major required writing and communicating skills, and their effectiveness. To start with, the potential or the aspiring candidate should uphold excellent research, writing and analytical skills. It is quite evident that the work of criminal justice officer involves unearthing hidden information to accrue evidence or a link to the case an officer is de aling with. This requires deluxe research skills that will enable the officer to acquire the information required. Similarly, the officer has to employ critical thinking and analytical skills when engaging in this research (Teller, 2006). Moreover, on the job requirements, the applicant is supposed to be an eloquent communicator with impeccable presentation skills. Communication is the backbone pillar for an effective criminal justice officer. In the field of work, the officer is expected toShow MoreRelatedThe Importance Of Oral Communication Skills Among University Graduates From A Managerial Perspective995 Words   |  4 PagesThe gap between oral communication proficiency among university graduates and the workplace requirements of the same has received a contentious attention in the recent past. Due to industrial transformation and global competition, university students are increased being required to integrate their oral skills and their specialized knowledge for them to gain an edge in the job market and remain synchronized with the world as well. Notably, oral communication has become a backbone of most businessesRead MoreVerbal Communication And Oral Communication1281 Words   |  6 Pagesoral communication skill it is the verbal Communication, there is also a nonverbal communication linked to oral communication which is simply a person’s body language and eye contact and hand gestures. This could be important because it could express someone feeling’s as relaxed and confident this mean that if there have open arms this could means that there are open and nice person .On the other hand if we have a crossed arms they may-be angry. Last and the most important nonverbal skill is thatRead More Essential Workplace Skills Essay example1596 Words   |  7 PagesWorkplace Essential Skills While working or while looking for work there are certain skills sets that are universally important. No matter what job or career path you have chosen these skills make it easier to obtain your goals, whatever they may be. Workplace essential skills enable people at work to do the tasks required by their occupation, give them the basics to learn all other skills (job and life) and assist them to manage and adapt to the changing workplace environment. TheyRead MoreVerbal Communication Essay1182 Words   |  5 PagesCommunication is a Latin word which means ‘to share’. It is the sharing of information between different individuals. It includes the sharing of ideas, concepts, imaginations, behaviours and written content. Communication is simply defined as the transfer of information from one place to another. This transfer of information can be shown in different ways. Communication is sending and receiving information between two or more people. The person sending the message is referred to as the sender, whileRead MoreThe Importance Of Writing Skills And Oral Skills867 Words   |  4 PagesWriting Skills and Oral skills Mr. Price emphasized the importance of writing skills. He said that when you use it daily it is always important to sound professional. He also said what person would like to go through a document or email and see errors throughout. The textbook states, â€Å"many job listings mention the need for excellent oral and written communication† (Guffey and Loewy 3). Mr. Price told me that he had an ASM that worked for him in the past and he had terrible writing skills and oneRead More Communication Processes Used Within My Organization Essay1210 Words   |  5 PagesCommunication is important for the internal functioning of the organization and for interaction with the external environment. Communication is the transfer of information from a sender to a receiver, with the information being understood by the receiver. The communication process begins with the sender, who encodes an idea that is sent in oral, written, visual or some other form to the receiver. The receiver decodes th e message and gains and understanding of what the sender wants to communicateRead MoreEssay on Effective communication and its importance to supervision1585 Words   |  7 PagesEffective Communication and its Importance to Supervision Communication can often be overlooked and good communication skills can be easily assumed. 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Without goo d oral communication skillsRead MoreCommunication For The Field Of Accounting1122 Words   |  5 PagesCommunication for Auditors If asked what an accountant does, most people would respond with answers, such as dealing with numbers or being proficient in math. That may be true, but one main problem that is overlooked in this field is communication. Everybody communicates whether it is verbal, written, sign language, etc. It is a vital part of our world and plays an important role in accounting, which unfortunately is forgotten about. Graduates from colleges, who are seeking employment from accountingRead MoreCommunication Process1412 Words   |  6 PagesCommunication can best be summarized as the transmission of a message from a sender to a receiver in an understandable manner. The importance of effective communication is immeasurable in the world of business and in personal life. From a business perspective, effective communication is an absolute must, because it commonly accounts for the difference between success and failure or profit and loss. It has become clear that effective business communication is critical to the successful operation of

Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. 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Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. 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Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. Gilbert (2011) portends some of these included loan applicants, mortgage brokers, lenders, individual mortgage packagers, agencies that rate mortgages, investment brokers, and advisers, and purchasers of the collateralized mortgage obligations (Gilbert, 2011). People are advised to establish credit early in life to be able to buy homes and automobilesRead MoreCase Study : The Financial Crisis1084 Words   |  5 PagesEnterprise and Social Responsibility Renato Passos 21271774 Assignment 1 – Case Study: The Financial Crisis The purpose of this case study is to provide an introduction to business ethics. The first section of the assignment is an overview of the stakeholders. The second part is the description of an utilitarian perspective and how it should be applied on the case study. This is followed by the definition of the three ‘maxims’, clashes of rights and two normatives theories examined and appliedRead MoreWas the U.S. Federal Government’s 1932 Intervention in the Market for Home Ownership Desirable? How Did the Creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 Expand Homeownership and Shape1161 Words   |  5 PagesWas the U.S. federal government’s 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending firms? Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. Lessons are learnt from financial failures in the lackRead MoreSubprime Lending1295 Words   |  6 PagesDefining Subprime Lending The problem to be investigated is the effect of subprime mortgage loans on the economy. According to Merriam Webster subprime is defined as having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers; extending or obtaining a subprime loan (Webster, 2012). Subprime mortgage loans are loans given to people with a low credit score. Subprime borrowers normally don’t qualify for prime loans or prime lending. AccordingRead MoreThe Transformation Of Housing Discrimination Toward African American1750 Words   |  7 Pagesdiscrimination especially from the pre-stage application lenders. Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis,Read MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pagesfinancial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor t o the subprime mortgage debacle. Bank of America was in a position toRead MoreMoral Ethics And Values Based Dilemmas871 Words   |  4 PagesMoral ethics and values-based dilemmas are ethical principles that difficult to handle at a workplace when employees have to choose what is wrong and right according to their own ethics. An effective ethics program must complement the values of the organization along with the values in the law. Good ethical behavior for any business is always a fundamental to its success. The main key for business owners and managements is to ensure all employees understand all the ethics. This paper discusses howRead MoreTaking a Look at the Great Recession782 Words   |  3 Pages In 2007, the bursting of the housing bubble of the U.S was at its peak. The bursting resulted in plummeting of security values tied to the U.S. real estate pricing. The complex interplay of policies that provided easier lending of loans, overpricing of sub-prime mortgages, on a theoretical basis that the prices would continue to increase, and inadequate capital holdings from insurance companies and banks to back their financial commitments contributed to the bursting of the bubble (BoatrightRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer -based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief

Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. Gilbert (2011) portends some of these included loan applicants, mortgage brokers, lenders, individual mortgage packagers, agencies that rate mortgages, investment brokers, and advisers, and purchasers of the collateralized mortgage obligations (Gilbert, 2011). People are advised to establish credit early in life to be able to buy homes and automobilesRead MoreCase Study : The Financial Crisis1084 Words   |  5 PagesEnterprise and Social Responsibility Renato Passos 21271774 Assignment 1 – Case Study: The Financial Crisis The purpose of this case study is to provide an introduction to business ethics. The first section of the assignment is an overview of the stakeholders. The second part is the description of an utilitarian perspective and how it should be applied on the case study. This is followed by the definition of the three ‘maxims’, clashes of rights and two normatives theories examined and appliedRead MoreWas the U.S. Federal Government’s 1932 Intervention in the Market for Home Ownership Desirable? How Did the Creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 Expand Homeownership and Shape1161 Words   |  5 PagesWas the U.S. federal government’s 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending firms? Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. Lessons are learnt from financial failures in the lackRead MoreSubprime Lending1295 Words   |  6 PagesDefining Subprime Lending The problem to be investigated is the effect of subprime mortgage loans on the economy. According to Merriam Webster subprime is defined as having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers; extending or obtaining a subprime loan (Webster, 2012). Subprime mortgage loans are loans given to people with a low credit score. Subprime borrowers normally don’t qualify for prime loans or prime lending. AccordingRead MoreThe Transformation Of Housing Discrimination Toward African American1750 Words   |  7 Pagesdiscrimination especially from the pre-stage application lenders. Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis,Read MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pagesfinancial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor t o the subprime mortgage debacle. Bank of America was in a position toRead MoreMoral Ethics And Values Based Dilemmas871 Words   |  4 PagesMoral ethics and values-based dilemmas are ethical principles that difficult to handle at a workplace when employees have to choose what is wrong and right according to their own ethics. An effective ethics program must complement the values of the organization along with the values in the law. Good ethical behavior for any business is always a fundamental to its success. The main key for business owners and managements is to ensure all employees understand all the ethics. This paper discusses howRead MoreTaking a Look at the Great Recession782 Words   |  3 Pages In 2007, the bursting of the housing bubble of the U.S was at its peak. The bursting resulted in plummeting of security values tied to the U.S. real estate pricing. The complex interplay of policies that provided easier lending of loans, overpricing of sub-prime mortgages, on a theoretical basis that the prices would continue to increase, and inadequate capital holdings from insurance companies and banks to back their financial commitments contributed to the bursting of the bubble (BoatrightRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer -based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief

Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. Gilbert (2011) portends some of these included loan applicants, mortgage brokers, lenders, individual mortgage packagers, agencies that rate mortgages, investment brokers, and advisers, and purchasers of the collateralized mortgage obligations (Gilbert, 2011). People are advised to establish credit early in life to be able to buy homes and automobilesRead MoreCase Study : The Financial Crisis1084 Words   |  5 PagesEnterprise and Social Responsibility Renato Passos 21271774 Assignment 1 – Case Study: The Financial Crisis The purpose of this case study is to provide an introduction to business ethics. The first section of the assignment is an overview of the stakeholders. The second part is the description of an utilitarian perspective and how it should be applied on the case study. This is followed by the definition of the three ‘maxims’, clashes of rights and two normatives theories examined and appliedRead MoreWas the U.S. Federal Government’s 1932 Intervention in the Market for Home Ownership Desirable? How Did the Creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 Expand Homeownership and Shape1161 Words   |  5 PagesWas the U.S. federal government’s 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending firms? Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. Lessons are learnt from financial failures in the lackRead MoreSubprime Lending1295 Words   |  6 PagesDefining Subprime Lending The problem to be investigated is the effect of subprime mortgage loans on the economy. According to Merriam Webster subprime is defined as having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers; extending or obtaining a subprime loan (Webster, 2012). Subprime mortgage loans are loans given to people with a low credit score. Subprime borrowers normally don’t qualify for prime loans or prime lending. AccordingRead MoreThe Transformation Of Housing Discrimination Toward African American1750 Words   |  7 Pagesdiscrimination especially from the pre-stage application lenders. Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis,Read MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pagesfinancial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor t o the subprime mortgage debacle. Bank of America was in a position toRead MoreMoral Ethics And Values Based Dilemmas871 Words   |  4 PagesMoral ethics and values-based dilemmas are ethical principles that difficult to handle at a workplace when employees have to choose what is wrong and right according to their own ethics. An effective ethics program must complement the values of the organization along with the values in the law. Good ethical behavior for any business is always a fundamental to its success. The main key for business owners and managements is to ensure all employees understand all the ethics. This paper discusses howRead MoreTaking a Look at the Great Recession782 Words   |  3 Pages In 2007, the bursting of the housing bubble of the U.S was at its peak. The bursting resulted in plummeting of security values tied to the U.S. real estate pricing. The complex interplay of policies that provided easier lending of loans, overpricing of sub-prime mortgages, on a theoretical basis that the prices would continue to increase, and inadequate capital holdings from insurance companies and banks to back their financial commitments contributed to the bursting of the bubble (BoatrightRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer -based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief

Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. Gilbert (2011) portends some of these included loan applicants, mortgage brokers, lenders, individual mortgage packagers, agencies that rate mortgages, investment brokers, and advisers, and purchasers of the collateralized mortgage obligations (Gilbert, 2011). People are advised to establish credit early in life to be able to buy homes and automobilesRead MoreCase Study : The Financial Crisis1084 Words   |  5 PagesEnterprise and Social Responsibility Renato Passos 21271774 Assignment 1 – Case Study: The Financial Crisis The purpose of this case study is to provide an introduction to business ethics. The first section of the assignment is an overview of the stakeholders. The second part is the description of an utilitarian perspective and how it should be applied on the case study. This is followed by the definition of the three ‘maxims’, clashes of rights and two normatives theories examined and appliedRead MoreWas the U.S. Federal Government’s 1932 Intervention in the Market for Home Ownership Desirable? How Did the Creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 Expand Homeownership and Shape1161 Words   |  5 PagesWas the U.S. federal government’s 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending firms? Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. Lessons are learnt from financial failures in the lackRead MoreSubprime Lending1295 Words   |  6 PagesDefining Subprime Lending The problem to be investigated is the effect of subprime mortgage loans on the economy. According to Merriam Webster subprime is defined as having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers; extending or obtaining a subprime loan (Webster, 2012). Subprime mortgage loans are loans given to people with a low credit score. Subprime borrowers normally don’t qualify for prime loans or prime lending. AccordingRead MoreThe Transformation Of Housing Discrimination Toward African American1750 Words   |  7 Pagesdiscrimination especially from the pre-stage application lenders. Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis,Read MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pagesfinancial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor t o the subprime mortgage debacle. Bank of America was in a position toRead MoreMoral Ethics And Values Based Dilemmas871 Words   |  4 PagesMoral ethics and values-based dilemmas are ethical principles that difficult to handle at a workplace when employees have to choose what is wrong and right according to their own ethics. An effective ethics program must complement the values of the organization along with the values in the law. Good ethical behavior for any business is always a fundamental to its success. The main key for business owners and managements is to ensure all employees understand all the ethics. This paper discusses howRead MoreTaking a Look at the Great Recession782 Words   |  3 Pages In 2007, the bursting of the housing bubble of the U.S was at its peak. The bursting resulted in plummeting of security values tied to the U.S. real estate pricing. The complex interplay of policies that provided easier lending of loans, overpricing of sub-prime mortgages, on a theoretical basis that the prices would continue to increase, and inadequate capital holdings from insurance companies and banks to back their financial commitments contributed to the bursting of the bubble (BoatrightRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer -based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief

Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. Gilbert (2011) portends some of these included loan applicants, mortgage brokers, lenders, individual mortgage packagers, agencies that rate mortgages, investment brokers, and advisers, and purchasers of the collateralized mortgage obligations (Gilbert, 2011). People are advised to establish credit early in life to be able to buy homes and automobilesRead MoreCase Study : The Financial Crisis1084 Words   |  5 PagesEnterprise and Social Responsibility Renato Passos 21271774 Assignment 1 – Case Study: The Financial Crisis The purpose of this case study is to provide an introduction to business ethics. The first section of the assignment is an overview of the stakeholders. The second part is the description of an utilitarian perspective and how it should be applied on the case study. This is followed by the definition of the three ‘maxims’, clashes of rights and two normatives theories examined and appliedRead MoreWas the U.S. Federal Government’s 1932 Intervention in the Market for Home Ownership Desirable? How Did the Creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 Expand Homeownership and Shape1161 Words   |  5 PagesWas the U.S. federal government’s 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending firms? Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. Lessons are learnt from financial failures in the lackRead MoreSubprime Lending1295 Words   |  6 PagesDefining Subprime Lending The problem to be investigated is the effect of subprime mortgage loans on the economy. According to Merriam Webster subprime is defined as having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers; extending or obtaining a subprime loan (Webster, 2012). Subprime mortgage loans are loans given to people with a low credit score. Subprime borrowers normally don’t qualify for prime loans or prime lending. AccordingRead MoreThe Transformation Of Housing Discrimination Toward African American1750 Words   |  7 Pagesdiscrimination especially from the pre-stage application lenders. Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis,Read MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pagesfinancial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor t o the subprime mortgage debacle. Bank of America was in a position toRead MoreMoral Ethics And Values Based Dilemmas871 Words   |  4 PagesMoral ethics and values-based dilemmas are ethical principles that difficult to handle at a workplace when employees have to choose what is wrong and right according to their own ethics. An effective ethics program must complement the values of the organization along with the values in the law. Good ethical behavior for any business is always a fundamental to its success. The main key for business owners and managements is to ensure all employees understand all the ethics. This paper discusses howRead MoreTaking a Look at the Great Recession782 Words   |  3 Pages In 2007, the bursting of the housing bubble of the U.S was at its peak. The bursting resulted in plummeting of security values tied to the U.S. real estate pricing. The complex interplay of policies that provided easier lending of loans, overpricing of sub-prime mortgages, on a theoretical basis that the prices would continue to increase, and inadequate capital holdings from insurance companies and banks to back their financial commitments contributed to the bursting of the bubble (BoatrightRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer -based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief

Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. Gilbert (2011) portends some of these included loan applicants, mortgage brokers, lenders, individual mortgage packagers, agencies that rate mortgages, investment brokers, and advisers, and purchasers of the collateralized mortgage obligations (Gilbert, 2011). People are advised to establish credit early in life to be able to buy homes and automobilesRead MoreCase Study : The Financial Crisis1084 Words   |  5 PagesEnterprise and Social Responsibility Renato Passos 21271774 Assignment 1 – Case Study: The Financial Crisis The purpose of this case study is to provide an introduction to business ethics. The first section of the assignment is an overview of the stakeholders. The second part is the description of an utilitarian perspective and how it should be applied on the case study. This is followed by the definition of the three ‘maxims’, clashes of rights and two normatives theories examined and appliedRead MoreWas the U.S. Federal Government’s 1932 Intervention in the Market for Home Ownership Desirable? How Did the Creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 Expand Homeownership and Shape1161 Words   |  5 PagesWas the U.S. federal government’s 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending firms? Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. Lessons are learnt from financial failures in the lackRead MoreSubprime Lending1295 Words   |  6 PagesDefining Subprime Lending The problem to be investigated is the effect of subprime mortgage loans on the economy. According to Merriam Webster subprime is defined as having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers; extending or obtaining a subprime loan (Webster, 2012). Subprime mortgage loans are loans given to people with a low credit score. Subprime borrowers normally don’t qualify for prime loans or prime lending. AccordingRead MoreThe Transformation Of Housing Discrimination Toward African American1750 Words   |  7 Pagesdiscrimination especially from the pre-stage application lenders. Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis,Read MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pagesfinancial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor t o the subprime mortgage debacle. Bank of America was in a position toRead MoreMoral Ethics And Values Based Dilemmas871 Words   |  4 PagesMoral ethics and values-based dilemmas are ethical principles that difficult to handle at a workplace when employees have to choose what is wrong and right according to their own ethics. An effective ethics program must complement the values of the organization along with the values in the law. Good ethical behavior for any business is always a fundamental to its success. The main key for business owners and managements is to ensure all employees understand all the ethics. This paper discusses howRead MoreTaking a Look at the Great Recession782 Words   |  3 Pages In 2007, the bursting of the housing bubble of the U.S was at its peak. The bursting resulted in plummeting of security values tied to the U.S. real estate pricing. The complex interplay of policies that provided easier lending of loans, overpricing of sub-prime mortgages, on a theoretical basis that the prices would continue to increase, and inadequate capital holdings from insurance companies and banks to back their financial commitments contributed to the bursting of the bubble (BoatrightRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer -based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief

Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. Gilbert (2011) portends some of these included loan applicants, mortgage brokers, lenders, individual mortgage packagers, agencies that rate mortgages, investment brokers, and advisers, and purchasers of the collateralized mortgage obligations (Gilbert, 2011). People are advised to establish credit early in life to be able to buy homes and automobilesRead MoreCase Study : The Financial Crisis1084 Words   |  5 PagesEnterprise and Social Responsibility Renato Passos 21271774 Assignment 1 – Case Study: The Financial Crisis The purpose of this case study is to provide an introduction to business ethics. The first section of the assignment is an overview of the stakeholders. The second part is the description of an utilitarian perspective and how it should be applied on the case study. This is followed by the definition of the three ‘maxims’, clashes of rights and two normatives theories examined and appliedRead MoreWas the U.S. Federal Government’s 1932 Intervention in the Market for Home Ownership Desirable? How Did the Creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 Expand Homeownership and Shape1161 Words   |  5 PagesWas the U.S. federal government’s 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending firms? Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. Lessons are learnt from financial failures in the lackRead MoreSubprime Lending1295 Words   |  6 PagesDefining Subprime Lending The problem to be investigated is the effect of subprime mortgage loans on the economy. According to Merriam Webster subprime is defined as having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers; extending or obtaining a subprime loan (Webster, 2012). Subprime mortgage loans are loans given to people with a low credit score. Subprime borrowers normally don’t qualify for prime loans or prime lending. AccordingRead MoreThe Transformation Of Housing Discrimination Toward African American1750 Words   |  7 Pagesdiscrimination especially from the pre-stage application lenders. Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis,Read MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pagesfinancial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor t o the subprime mortgage debacle. Bank of America was in a position toRead MoreMoral Ethics And Values Based Dilemmas871 Words   |  4 PagesMoral ethics and values-based dilemmas are ethical principles that difficult to handle at a workplace when employees have to choose what is wrong and right according to their own ethics. An effective ethics program must complement the values of the organization along with the values in the law. Good ethical behavior for any business is always a fundamental to its success. The main key for business owners and managements is to ensure all employees understand all the ethics. This paper discusses howRead MoreTaking a Look at the Great Recession782 Words   |  3 Pages In 2007, the bursting of the housing bubble of the U.S was at its peak. The bursting resulted in plummeting of security values tied to the U.S. real estate pricing. The complex interplay of policies that provided easier lending of loans, overpricing of sub-prime mortgages, on a theoretical basis that the prices would continue to increase, and inadequate capital holdings from insurance companies and banks to back their financial commitments contributed to the bursting of the bubble (BoatrightRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer -based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief

Ethics in the Mortgage Lending Business - 1566 Words

Ethics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients that their loans would be secured. Ethics During the time prior to the mortgage crisis, the economy was looking good to the mortgage brokers and lenders in the United States as well as new homeowners. After all, it is the ‘American Dream’ to own a†¦show more content†¦Bank of America s company philosophy is â€Å"we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves† (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world s most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities. Core Values Bank of America core values were established to ensure the team of employees is serving their customers’ needs. The five core values are short but strong in words. Established by Bank of America to ensure confidence in consumer’s relation, the five values are:Show MoreRelatedThe Subprime Loan Blog Assignment And References Of Resources Researched Essay1390 Words   |  6 PagesStates starting somewhere around the middle of 2006. Gilbert (2011) state many levels of contributors participated in this mortgage lending crisis. Gilbert (2011) portends some of these included loan applicants, mortgage brokers, lenders, individual mortgage packagers, agencies that rate mortgages, investment brokers, and advisers, and purchasers of the collateralized mortgage obligations (Gilbert, 2011). People are advised to establish credit early in life to be able to buy homes and automobilesRead MoreCase Study : The Financial Crisis1084 Words   |  5 PagesEnterprise and Social Responsibility Renato Passos 21271774 Assignment 1 – Case Study: The Financial Crisis The purpose of this case study is to provide an introduction to business ethics. The first section of the assignment is an overview of the stakeholders. The second part is the description of an utilitarian perspective and how it should be applied on the case study. This is followed by the definition of the three ‘maxims’, clashes of rights and two normatives theories examined and appliedRead MoreWas the U.S. Federal Government’s 1932 Intervention in the Market for Home Ownership Desirable? How Did the Creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 Expand Homeownership and Shape1161 Words   |  5 PagesWas the U.S. federal government’s 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending firms? Yes, I do believe that the U.S. federal government’s 1932 intervention in the market for homeownership was desirable, not only for the government but also for potential home owners as well as those in construction, etc. PriorRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 Pageson the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how business approaches to ethics over the past years where ethics is seen in different perspectives. Lessons are learnt from financial failures in the lackRead MoreSubprime Lending1295 Words   |  6 PagesDefining Subprime Lending The problem to be investigated is the effect of subprime mortgage loans on the economy. According to Merriam Webster subprime is defined as having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers; extending or obtaining a subprime loan (Webster, 2012). Subprime mortgage loans are loans given to people with a low credit score. Subprime borrowers normally don’t qualify for prime loans or prime lending. AccordingRead MoreThe Transformation Of Housing Discrimination Toward African American1750 Words   |  7 Pagesdiscrimination especially from the pre-stage application lenders. Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis,Read MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pagesfinancial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor t o the subprime mortgage debacle. Bank of America was in a position toRead MoreMoral Ethics And Values Based Dilemmas871 Words   |  4 PagesMoral ethics and values-based dilemmas are ethical principles that difficult to handle at a workplace when employees have to choose what is wrong and right according to their own ethics. An effective ethics program must complement the values of the organization along with the values in the law. Good ethical behavior for any business is always a fundamental to its success. The main key for business owners and managements is to ensure all employees understand all the ethics. This paper discusses howRead MoreTaking a Look at the Great Recession782 Words   |  3 Pages In 2007, the bursting of the housing bubble of the U.S was at its peak. The bursting resulted in plummeting of security values tied to the U.S. real estate pricing. The complex interplay of policies that provided easier lending of loans, overpricing of sub-prime mortgages, on a theoretical basis that the prices would continue to increase, and inadequate capital holdings from insurance companies and banks to back their financial commitments contributed to the bursting of the bubble (BoatrightRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer -based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief