savings and loan


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savings and loan

n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. In the early 1980s savings and loans were "de-regulated," allowing them to make loans for speculative land development, removing high reserve funds requirements, and in allowing savings and loans' funds to participate in competition with banks. The result was use of many savings and loans for speculative and dishonest investments, lack of controls, and tremendous losses to thousands of depositors. However, a properly-managed, conservative savings and loan which concentrates on real estate loans guaranteed by the FHA (Federal Housing Administration) and/or sold in the secondary mortgage market can be safe, profitable, and provide a valuable channel for savings into the home finance market.

References in periodicals archive ?
The other banks affected by this move include; Women's World Banking, Ghana, Unicredit Savings and Loans Ltd, Global Access Savings and Loans Company Ltd, Accent Financial Services Ltd, Midland Savings and Loans Company Ltd, First Allied Savings and Loans Co.
Iced water seller demands GH400 deposit from collapsed banks
In its formation, Non-stock Savings and Loans Associations (NSSLAs) must have 'at least five but not more than 15 members of a well-defined group as provided herein may form an Association under this Act.' MBAs have no minimum membership, but to be classified as a micro-MBA it must have 5,000 members.
MBAs distinguished from SLAs
Desperate to stop the sale but lacking the necessary powers, Commissioner William Crawford of the California Department of Savings and Loans sent his own small examination team to Lincoln, to see if his people could somehow put a spoke in Keating's wheel.
Will Charlie Keating ride again? Congress is once again looking at banking deregulation. Will it ignore the lessons of the past?
All these problems of commercial banks and savings and loan associations have fostered industry consolidation.
Is a career in banking a good investment?
The savings and loan name may change - indeed, many savings and loans already have renamed themselves banks - but they will continue to fulfill an important function in the housing market as originators of home loans.
Black ink at last for the thrifts
They even had their own lobby: the National Savings and Loan League.
Move over, Charles Keating
When the last failed savings and loan in Louisiana was auctioned off by the Resolution Trust Corp., the newest black-owned bank in the Deep South--Dryades Savings Bank FSB--was born.
Banking on a New Orleans' tradition: a group of Black investors has purchased one of Crescent City's oldest banks
The number of savings and loan associations continued to decline despite improvements in most thrifts' financial conditions, according to a Veribanc, Inc.
S & L finances improve as industry shrinks
The nation's savings and loan bailout agency, the Resolution Trust Corporation (RTC), lived precisely this scenario, not with used furniture, but with your money.
Soldiers of fortune
Lincoln Savings involved the deductibility of premiums paid into a fund maintained by the Federal Savings and Loan Insurance Corporation (FSLIC).
PNC and loan origination costs
The statute provides that loans made by lenders other than banks or savings and loan associations which are usurious, are void.
Usury-avoidance provision in a mortgage is useless
First-quarter call report data released by the Office of Thrift Supervision showed continued improvement for most of the savings and loan industry, according to an analysis by Veribanc, Inc.
Thrifts improved despite problems at failed institutions
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