课程: Foundations of Business Banking

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Asset-backed loans

Asset-backed loans

课程: Foundations of Business Banking

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Asset-backed loans

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- Both the lender and the borrower can benefit from arranging for a loan to be backed by specific assets as collateral. These loans are called collateralized loans, or asset-backed loans or secured loans. The classic example of a secured loan is a home mortgage. If the home buyer fails to make the required mortgage loan payments, the mortgage lender has the legal right to take the house and sell it to somebody else. This use of the house as collateral for the mortgage loan benefits both the lender and the borrower. The mortgage lender is benefited because the existence of the house as collateral for the loan reduces the probability that the lender will lose the full amount of the mortgage loan. At a minimum, the lender takes the house and sells it. For this reason, mortgage lenders are very careful to have appraisals done to confirm the value of the house that will serve as collateral for the loan. Now, the borrower also…

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