27 Jul '15, 2am

Learn how #TDSR impacts your borrowing capacity. #singapore #property

Ogden Nash, the American poet, once wrote, “One rule which woe betides the banker who fails to heed it. Never lend any money to anybody unless they don’t need it.” This is a humorous way of saying that the only way to minimize risk in the banking business is to lend money to people who already have enough money to pay back the loan. Of course, in the real world, it doesn't work this way. The economy would grind to a halt if people could not use debt to finance business expansion and household purchases like cars, electronics, and homes. If bankers could lend only to people who don't need it, banks would be out of business. As such, for the good of the economy and the banks, the latter must lend and assume some level of risk. The trick is to underwrite loans so very few of them default and the risk to the banks, and, thus, the financial system is acceptable. Underwriting is...

Full article: http://www.srx.com.sg/singapore-property-news/9531/how-mu...

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