1. What index does the Brookline Savings Bank use to determine current mortgage rates ?
* The index used by the Brookline Savings Bank is the Federal Home Loan Bank Board's "Conventional Home Mortgage Closing Rates, All Lenders/All Homes (U.S Effective Rate)".
2. What causes changes in the cost of money that a savings bank lends ?
* Because the cost of money a savings bank lends to you changes with the rate of interest it pays it depositors, the VRM is an equitable method of financing for both home buyers and lenders.
3. How long is the guaranteed-rate period ?
* The guaranteed-rate period is every six months.
4. By how much may the bank increase your mortgage rate ?
* If the index is 1/4 % or more above your mortgage rate, and increase may be made at the option of the bank.
5. Must the bank increase your mortgage rate if the FHLBB rate increase ?
* Yes, if the FHLBB rate increases, the bank must increase the mortgage.
6. Is there any limit to how high your rate can go over the life of the mortgage ?
* No limit to how high or low your rate can go over an extended period of time.
7. When does the bank inform the mortgagor about changes in his or her mortgage rate ?
* At least 30 days before the new rate is to go into effect.
8. Study the example of the 50,000 loan.
a. What was the initial rate?
* 9.10
b. How many increases were there over these five years?
* 6 increases from 12 months until 42 months.
c. How many decreases?
* 3 decreases from 48 months until 60 months.
d. How much did monthy payments rise over the five years?
* 54,71
Minggu, 02 Mei 2010
Selasa, 30 Maret 2010
LESSON 3
Lesson 3
LOANS
Vocabulary
Loan-money that one party gives to another to use temporarily
Loan department-the section or division of a bank that takes care of loans
Loan officer-officer of the bank who interviews people who went to borrow money
Loan application-the form that the customer fills out when he went a loan
Currently-at the present time, at this moment
In effect-valid,currently in uses
Commercial loans-money that banks to businesses
Personal loans-money that banks lend to individual borrowers
Collateral- property or money that a bank as security for a loan
Credit file –information about a bank customer who wants to borrow money
To pay back-to return the money that you borrow ( also: repay )
Charge account-an account that allows a customer to get merchandise or services immediately, but pay later
Charge card-a piece of plastic with the name of the charge account holder and his charge account number. The account holder presents this card when he uses his charge account to buy something.
Expansion
To borrow-to take money from someone and to promise to return it
To lend- to permit someone to use your money temporarily with the
Understanding that she has to return it.
I need to borrow some money. Can you land me $100.000?
The party who lands the money is the lender. The party who borrows the money is the borrows.
Term-period of time
The term of the loan is three years.
Principal-the amount of money that the lender lends to the borrower
Due-payable at the particular time
Payments are due on the first of every month.
To default-not to pay money that is due.
To take possession of-to become the owner of to take property from another person.
If you default on your car loan the bank will take possession of your car to pay off - to finish paying back
Before you borrow any more money, you should pay off your debts to compute – to figure to calculate
The bank computes interest payments on the principal tenure – the term of the loan
Long term loans may have a tenure of ten years credit rating- the amount, type and term of loans that the credit department of a bank decides that it can offer a customer creditor- lender debtor-borrower, someone who has debts
Vocabulary Practice
Select the answer that correctly completes each sentence.
1.If you need money I can ___ you some.
a.pay back b.borrow c.lend
2.When my friend needed a loan he offered the bank his house as___
a.debt b.term c.collateral
3.James has not paid back two loans. He must have a terrible___
a.Credit Rating b.charge card c.principal
4.If you___your car loan, the bank will take possession of your car
a.pay off b.default on c.compute
5.In order to calculate the monthly payments on your loan, the bank adds the interest to the___ and divides the total by the number of month
a.tenure b.principal c.charge account
AN AUTO LOAN
John Baker works in the loan department of a bank in Denver, Colorado.He is a loan officer.Stanley Fanelli has an appointment with him now to ask about a loan. He needs money to buy a new car.
Mr.B Hello,Mr.Fanelli.Please have a seat. What can I do for you today?
Mr.F I want to borrow some money to buy a car. A friend of mine, Jack Richardson, bought a new car last week . He told me that he got his loan here
Mr.B Oh yes.I remember him. I was the loan officer who spoke with him
Mr.F He said that you were very helpful.I know very little about loans and I hope you can explain things to me
Mr.B I will certainly try. What questions did you have for me?
Mr.F First,I want to know if loans for buying cars are commercial loans or personal loans
Mr.B Neither,Mr.Fanelli.They’re auto loans. A commercial loan is principal that banks lend to businesses. Personal loans are made to individuals, but not for buying cars.
Mr.F What about interest rates
Mr.B The rate of interest currently in effect on auto loans is 16%
Mr.F For how long will I have to make monthly payments?
Mr.B The term of the loan is three years, so there will be 36 monthly payments
Mr.F Do I have to give the bank any collateral?
Mr.B The car serves as collateral. If you default, the bank can take possession of the cars. The bank also checks your credit file to make sure that you always paid back your loans in the past. Do you have any charge accounts?
Mr.F My wife and I bought our furniture wirh our charge card and we even used it to buy airplane ticktes for out vacation in California last year. We paid all about those debts promptly.
Mr.B That’s very good. I assume there will be no problem.But the first thing you have to do is fill cut this loan application
MR.F Thank you very much.I’ll start right now
Comphrehension Check
A.State whether each statement is true or false on the dialogue between John baker and Stanley Fanelli
1. Mr.Fanelli needs a loan to buy his new car
2. A teller gave him the loan
3. Car loans are personal loans
4. The tenure of auto loans is three years
5. Mr.Fanelli doesn’t have any charge account
B. Answer the following questions orally.
1. Which part of the bank takes care of loans?
2. What do you have to fill out if you went a loan?
3. How did Mr. Fanelli learn about loans?
4. What kind of loans is commercial loans?
5. Will Mr. Fanelli make monthly payments?
6. What is the current rate of interest on car loans?
7. How does Mr. fanelli’s new car serve as collateral for the loan?
8. How does the bank decided whether or not to give Mr. Fanelli a loan to buy a new car?
9. What did Mr.Fanelli angd his wife use their charge card for?
10. Did Mr. Fanelli and his wife pay off their debts in the past?
C. Composition. Write a short paragraph explaining what a bank customer has to do in order to get and auto loan.
Building Your Vocabulary
A. Find the words in the right-hand column that match I meaning the words in the left-hand column
1. In effect a. commercial loan
2. Pay back b. collateral
3. Security c. debtor
4. Calculate d. valid
5. Term e. currently
6. At present f.tenure
7. Business loan g. repay
8. Borrower h. compute
9. Money you owe i. default
10. Not pay off j.debt
B. Make each pair of sentences have the same meaning by completing the second the second
Sentences of each pair with the proper form of one of the new words of this lesson.
Model: she look out a loan for $10.000.
The of her loan was $10.000. answer : principal
1. The bank checks information about borrows.
The bank checks borrowers
2. I can buy things at the store with may charge card.
I have a at that store.
3. At last I don’t owe the bank any more money.
I’ve my loan.
4. He owes money to a lot of people
He has a lot of___
5. I have to pay back the loan in six month
The bank gave me a short___loan
PRESENTATION
I.More irregular past tense forms
Buy Bought Stanley Fanelli bought a new car
Know Knew Stanley knew very little about loans
Lend lent The bank lent Stanley money
Make made John Baker made a lot of money last year
Mean Meant He meant he applied for a loan
Pay paid They paid off their debts promptly
See saw I saw the manager of the bank
Take took The bank took possession of his car
Tell told The employee told me the current rate of interest
Think thought I thought it was difficult to get a loan
II.Combining sentences :sentence with two clauses
I know something.He works in a bank.
- I know (that) he works in a bank
He sees something.They have a new car
- He sees (that) they have a new car
See
Know
Think
Beliee
I Guess (that)they bought a car
Suppose
Say
Mean
Hope
Structure Practice
A. Restate each of the following sentences in the past. Then make each sentence negative.
Model : I see Bill. - I saw Bill.
- I didn’t see Bill.
1. Bill buys a new car.
2. The bank lends him the money.
3. He tells me about it.
4. He makes a payment every month.
5. He pays off the loan in four years.
B. Combine each pair of sentences into one.
Model : The loan department is closed. I know it.
- I know the loan department is closed.
1. Interest rates are high. We believe it.
2. Al defaulted on his load. Marry said that.
3. The Browns are not in debt. Everyone supposes so.
4. You have filled out your loan application. I see that.
5. You have enough information. Do you mean that?
C. Rewrite each question and answer as a single sentence having two clauses
Model : “Does Nancy have a new car ?”
“Bill say so”
- Bill says ( that ) Nancy has a new car.
1. “Are isterest rates high for car loans?”
“ I guess so”.
2. “Do george and ellen haven a good credit rating”
“The bank thinks so”.
3. “Do they need a load ?”
“We suppose so”.
4. “Is it easy to open a charge account?”
“We hope so”.
5. “Does the bank ask for collateral for commercial loans?”
“they know so”.
D. Use each string to write a two-clause sentence based on the lesson dialogue. And any necessary word.
Model : Bill/see/Stanley/buy/new car
- Bill sees that Stanley buys a new car
1. Standley fanelli/say/bank/lend him/ money
2. Standley/think/be complicated/to get a loan
3. Jonh barker/explain/be easy/to get a loan
4. bank/know/standley/always/pay back/debts
5. John Barker/suppose/standley/have/charge accounts
Building Sentence
A.Complete each sentences by adding the appropriate preposition.
1. What is the interest rate now effect?
2. Banks lend money businesses and private individuals.
3. You can get a personal loan 15% interest.
4. He’s thinking buying a new car.
5. Did you pay for the hotel room your charge card?
B.Select the form of the verb that correctly completes each of the following sentences.
a. Do you mind my ?
a. ask b. asking
b. I have to some money.
a. borrowing b. borrow
c. Can you me any ?
a. lending b. lend
d. She told me about in the bank.
a. waiting b. wait
e. I asked the teller things.
a. to explain b. for explaining
C.Restate each short sentence by moving the underlined noun to a position before the preceding noun. The sentences form a connected story.
Model: She works in the bank for saving.
- She works in a savings bank.
1. I wanted a loan for a car.
2. I filled out an application for the loan.
3. I asked about the rates of interest.
4. The bank checked the file on my credit.
5. They gave me a loan for three years.
BANKING CONVERSATIONS
1. Explain to a customer what she has to do to get a loan to buy a car.
2. Discuss some of the different kinds of loans that are available at your bank.
LOANS
Vocabulary
Loan-money that one party gives to another to use temporarily
Loan department-the section or division of a bank that takes care of loans
Loan officer-officer of the bank who interviews people who went to borrow money
Loan application-the form that the customer fills out when he went a loan
Currently-at the present time, at this moment
In effect-valid,currently in uses
Commercial loans-money that banks to businesses
Personal loans-money that banks lend to individual borrowers
Collateral- property or money that a bank as security for a loan
Credit file –information about a bank customer who wants to borrow money
To pay back-to return the money that you borrow ( also: repay )
Charge account-an account that allows a customer to get merchandise or services immediately, but pay later
Charge card-a piece of plastic with the name of the charge account holder and his charge account number. The account holder presents this card when he uses his charge account to buy something.
Expansion
To borrow-to take money from someone and to promise to return it
To lend- to permit someone to use your money temporarily with the
Understanding that she has to return it.
I need to borrow some money. Can you land me $100.000?
The party who lands the money is the lender. The party who borrows the money is the borrows.
Term-period of time
The term of the loan is three years.
Principal-the amount of money that the lender lends to the borrower
Due-payable at the particular time
Payments are due on the first of every month.
To default-not to pay money that is due.
To take possession of-to become the owner of to take property from another person.
If you default on your car loan the bank will take possession of your car to pay off - to finish paying back
Before you borrow any more money, you should pay off your debts to compute – to figure to calculate
The bank computes interest payments on the principal tenure – the term of the loan
Long term loans may have a tenure of ten years credit rating- the amount, type and term of loans that the credit department of a bank decides that it can offer a customer creditor- lender debtor-borrower, someone who has debts
Vocabulary Practice
Select the answer that correctly completes each sentence.
1.If you need money I can ___ you some.
a.pay back b.borrow c.lend
2.When my friend needed a loan he offered the bank his house as___
a.debt b.term c.collateral
3.James has not paid back two loans. He must have a terrible___
a.Credit Rating b.charge card c.principal
4.If you___your car loan, the bank will take possession of your car
a.pay off b.default on c.compute
5.In order to calculate the monthly payments on your loan, the bank adds the interest to the___ and divides the total by the number of month
a.tenure b.principal c.charge account
AN AUTO LOAN
John Baker works in the loan department of a bank in Denver, Colorado.He is a loan officer.Stanley Fanelli has an appointment with him now to ask about a loan. He needs money to buy a new car.
Mr.B Hello,Mr.Fanelli.Please have a seat. What can I do for you today?
Mr.F I want to borrow some money to buy a car. A friend of mine, Jack Richardson, bought a new car last week . He told me that he got his loan here
Mr.B Oh yes.I remember him. I was the loan officer who spoke with him
Mr.F He said that you were very helpful.I know very little about loans and I hope you can explain things to me
Mr.B I will certainly try. What questions did you have for me?
Mr.F First,I want to know if loans for buying cars are commercial loans or personal loans
Mr.B Neither,Mr.Fanelli.They’re auto loans. A commercial loan is principal that banks lend to businesses. Personal loans are made to individuals, but not for buying cars.
Mr.F What about interest rates
Mr.B The rate of interest currently in effect on auto loans is 16%
Mr.F For how long will I have to make monthly payments?
Mr.B The term of the loan is three years, so there will be 36 monthly payments
Mr.F Do I have to give the bank any collateral?
Mr.B The car serves as collateral. If you default, the bank can take possession of the cars. The bank also checks your credit file to make sure that you always paid back your loans in the past. Do you have any charge accounts?
Mr.F My wife and I bought our furniture wirh our charge card and we even used it to buy airplane ticktes for out vacation in California last year. We paid all about those debts promptly.
Mr.B That’s very good. I assume there will be no problem.But the first thing you have to do is fill cut this loan application
MR.F Thank you very much.I’ll start right now
Comphrehension Check
A.State whether each statement is true or false on the dialogue between John baker and Stanley Fanelli
1. Mr.Fanelli needs a loan to buy his new car
2. A teller gave him the loan
3. Car loans are personal loans
4. The tenure of auto loans is three years
5. Mr.Fanelli doesn’t have any charge account
B. Answer the following questions orally.
1. Which part of the bank takes care of loans?
2. What do you have to fill out if you went a loan?
3. How did Mr. Fanelli learn about loans?
4. What kind of loans is commercial loans?
5. Will Mr. Fanelli make monthly payments?
6. What is the current rate of interest on car loans?
7. How does Mr. fanelli’s new car serve as collateral for the loan?
8. How does the bank decided whether or not to give Mr. Fanelli a loan to buy a new car?
9. What did Mr.Fanelli angd his wife use their charge card for?
10. Did Mr. Fanelli and his wife pay off their debts in the past?
C. Composition. Write a short paragraph explaining what a bank customer has to do in order to get and auto loan.
Building Your Vocabulary
A. Find the words in the right-hand column that match I meaning the words in the left-hand column
1. In effect a. commercial loan
2. Pay back b. collateral
3. Security c. debtor
4. Calculate d. valid
5. Term e. currently
6. At present f.tenure
7. Business loan g. repay
8. Borrower h. compute
9. Money you owe i. default
10. Not pay off j.debt
B. Make each pair of sentences have the same meaning by completing the second the second
Sentences of each pair with the proper form of one of the new words of this lesson.
Model: she look out a loan for $10.000.
The of her loan was $10.000. answer : principal
1. The bank checks information about borrows.
The bank checks borrowers
2. I can buy things at the store with may charge card.
I have a at that store.
3. At last I don’t owe the bank any more money.
I’ve my loan.
4. He owes money to a lot of people
He has a lot of___
5. I have to pay back the loan in six month
The bank gave me a short___loan
PRESENTATION
I.More irregular past tense forms
Buy Bought Stanley Fanelli bought a new car
Know Knew Stanley knew very little about loans
Lend lent The bank lent Stanley money
Make made John Baker made a lot of money last year
Mean Meant He meant he applied for a loan
Pay paid They paid off their debts promptly
See saw I saw the manager of the bank
Take took The bank took possession of his car
Tell told The employee told me the current rate of interest
Think thought I thought it was difficult to get a loan
II.Combining sentences :sentence with two clauses
I know something.He works in a bank.
- I know (that) he works in a bank
He sees something.They have a new car
- He sees (that) they have a new car
See
Know
Think
Beliee
I Guess (that)they bought a car
Suppose
Say
Mean
Hope
Structure Practice
A. Restate each of the following sentences in the past. Then make each sentence negative.
Model : I see Bill. - I saw Bill.
- I didn’t see Bill.
1. Bill buys a new car.
2. The bank lends him the money.
3. He tells me about it.
4. He makes a payment every month.
5. He pays off the loan in four years.
B. Combine each pair of sentences into one.
Model : The loan department is closed. I know it.
- I know the loan department is closed.
1. Interest rates are high. We believe it.
2. Al defaulted on his load. Marry said that.
3. The Browns are not in debt. Everyone supposes so.
4. You have filled out your loan application. I see that.
5. You have enough information. Do you mean that?
C. Rewrite each question and answer as a single sentence having two clauses
Model : “Does Nancy have a new car ?”
“Bill say so”
- Bill says ( that ) Nancy has a new car.
1. “Are isterest rates high for car loans?”
“ I guess so”.
2. “Do george and ellen haven a good credit rating”
“The bank thinks so”.
3. “Do they need a load ?”
“We suppose so”.
4. “Is it easy to open a charge account?”
“We hope so”.
5. “Does the bank ask for collateral for commercial loans?”
“they know so”.
D. Use each string to write a two-clause sentence based on the lesson dialogue. And any necessary word.
Model : Bill/see/Stanley/buy/new car
- Bill sees that Stanley buys a new car
1. Standley fanelli/say/bank/lend him/ money
2. Standley/think/be complicated/to get a loan
3. Jonh barker/explain/be easy/to get a loan
4. bank/know/standley/always/pay back/debts
5. John Barker/suppose/standley/have/charge accounts
Building Sentence
A.Complete each sentences by adding the appropriate preposition.
1. What is the interest rate now effect?
2. Banks lend money businesses and private individuals.
3. You can get a personal loan 15% interest.
4. He’s thinking buying a new car.
5. Did you pay for the hotel room your charge card?
B.Select the form of the verb that correctly completes each of the following sentences.
a. Do you mind my ?
a. ask b. asking
b. I have to some money.
a. borrowing b. borrow
c. Can you me any ?
a. lending b. lend
d. She told me about in the bank.
a. waiting b. wait
e. I asked the teller things.
a. to explain b. for explaining
C.Restate each short sentence by moving the underlined noun to a position before the preceding noun. The sentences form a connected story.
Model: She works in the bank for saving.
- She works in a savings bank.
1. I wanted a loan for a car.
2. I filled out an application for the loan.
3. I asked about the rates of interest.
4. The bank checked the file on my credit.
5. They gave me a loan for three years.
BANKING CONVERSATIONS
1. Explain to a customer what she has to do to get a loan to buy a car.
2. Discuss some of the different kinds of loans that are available at your bank.
Sabtu, 13 Maret 2010
Tugas "STIE2010"
Change the active to the passive
1. Kusno killed a tiger.(aktive)
A tiger was killed by Kusno.(Passive)
2. She sang a fine song.
A fine sang was sung by Her.
3. We gave Him a prize.
A prize was given by Him.
4. The elected Him President.
He was elected President.
5. John has bitten Mary.
Mary has been bitten by John.
6. Tom opens the door.
Tom door is opened by Tom.
7. Shakespeare wrote that play.
That play was written by shakerpeare.
8. Bill will invite Ana to the party.
Ana will be invited to the party.
9. Alex is preparing that report.
The report is being prepared by Alex.
10.waitresses and waiters serve customers.
customers are serve by Them.
1. Kusno killed a tiger.(aktive)
A tiger was killed by Kusno.(Passive)
2. She sang a fine song.
A fine sang was sung by Her.
3. We gave Him a prize.
A prize was given by Him.
4. The elected Him President.
He was elected President.
5. John has bitten Mary.
Mary has been bitten by John.
6. Tom opens the door.
Tom door is opened by Tom.
7. Shakespeare wrote that play.
That play was written by shakerpeare.
8. Bill will invite Ana to the party.
Ana will be invited to the party.
9. Alex is preparing that report.
The report is being prepared by Alex.
10.waitresses and waiters serve customers.
customers are serve by Them.
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