Download or read book Taxmann s Insurance Laws Manual Authentic Compendium on Insurance Laws of India Covering the Insurance IRDA Act 50 Rules Regulations Master Directions etc August 2024 Edition written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-09-02 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive and updated compendium for the legal framework that governs the insurance industry in India. It compiles and presents the texts of the Insurance Regulatory and Development Authority Act, 1999 (IRDA), the Insurance Act, 1938, and over 50 associated rules and regulations essential for the regulation, development, and operational governance of insurance companies, agents, and related entities. The book includes updated and amended versions of legal texts, such as: • Insurance Regulatory and Development Authority Act, 1999, as amended up to date • 50+ Rules/Regulations framed under the IRDA Act • Insurance Act, 1938, as amended up to date, along with: o Applicability of Provisions of the Insurance Act to SEZs/IFSCs o Insurance (Appeal to Securities Appellate Tribunal (Rules), 2016 • Master Directions – Insurance, including FED Master Direction No. 9/2015-16, Dated 1-1-2016 (Updated as of 7th December, 2021) This book helps understand the legal landscape of the insurance sector, providing the regulatory requirements, compliance obligations, and procedural guidelines required for the industry's smooth functioning. The Present Publication is the 26th Edition | August 2024 & amended up to 3rd August 2024. This book is edited by Taxmann's Editorial Board, with the following coverage: • Insurance Regulatory and Development Authority Act, 1999 o Arrangement of Sections o Text of the Insurance Regulatory and Development Authority Act, 1999, as amended up to date o Subject Index • Rules & Regulations Framed under Insurance Regulatory and Development Authority Act, 1999 o Insurance Regulatory and Development Authority (Licensing of Insurance Agents) Regulations, 2000 o Insurance Regulatory and Development Authority of India (General Insurance – Re-insurance) Regulations, 2016 o Insurance Regulatory and Development Authority (Meetings) Regulations, 2000 o Insurance Regulatory and Development Authority (Insurance Advisory Committee) Regulations, 2000 o Insurance Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of Chairperson and Other Members) Rules, 2000 o Insurance Regulatory and Development Authority (Conditions of Service of Officers and Other Employees) Regulations, 2000 o Insurance Regulatory and Development Authority of India (Third Party Administrators – Health Services) Regulations, 2016 o Insurance Regulatory and Development Authority (Annual Report – Furnishing of Return, Statements and Other Particulars) Rules, 2000 o Insurance Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2001 o Insurance Regulatory and Development Authority of India (Re-insurance) Regulations, 2018 o Insurance Regulatory and Development Authority of India (Re-insurance) Advisory Committee) Regulations, 2019 o Insurance Regulatory and Development Authority (Licensing of Corporate Agents) Regulations, 2002 o Tariff Advisory Committee (Election of Members, Meetings, Functions and Miscellaneous) Regulations, 2004 o Insurance Regulatory and Development Authority (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010 o Insurance Regulatory and Development Authority (Life Insurance – Re-insurance) Regulations, 2013 o Insurance Regulatory and Development Authority (Sharing of Confidential Information Concerning Domestic or Foreign Entity) Regulations, 2012 o Insurance Regulatory and Development Authority (Licensing of Banks as Insurance Brokers) Regulations, 2013 o Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017 o Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018 o Insurance Regulatory and Development Authority of India (Registration of Insurance Marketing Firm) Regulations, 2015 o Indian Insurance Companies (Foreign Investment) Rules, 2015 o Insurance Regulatory and Development Authority of India (Maintenance of Insurance Records) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Insurance Services by Common Public Service Centres) Regulations, 2019 o Insurance Regulatory and Development Authority of India (Regulation of Insurance Business in Special Economic Zone) Rules, 2015 o Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015 o Insurance (Procedure for Holding Inquiry by Adjudicating Officer) Rules, 2016 o Insurance Regulatory and Development Authority of India (Appointment of Insurance Agents) Regulations, 2016 o Insurance Ombudsman Rules, 2017 o Insurance Regulatory and Development Authority of India Guidelines on Transitory Provisions under Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2017 o Insurance Regulatory and Development Authority of India (Investment by Private Equity Funds in Indian Insurance Companies) Guidelines, 2017 o Insurance Regulatory and Development Authority of India (Regulatory Sandbox) Regulations, 2019 o Insurance Regulatory and Development Authority of India (Minimum Information Required for Investigation and Inspection) Regulations, 2020 o Insurance Regulatory and Development Authority of India (Expenses of Management, including Commission of Insurers) Regulations, 2024 o Insurance Regulatory and Development Authority of India (Rural, Social Sector and Motor Third Party Obligations) Regulations, 2024 o Insurance Regulatory and Development Authority of India (Bima Sugam – Insurance Electronic Marketplace) Regulations, 2024 o Insurance Regulatory and Development Authority of India (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 o Insurance Regulatory and Development Authority of India (Corporate Governance for Insurers) Regulations, 2024 o Insurance Regulatory and Development Authority of India (Insurance Products) Regulations, 2024 o Insurance Regulatory and Development Authority of India (Registration and Operations of Foreign Reinsurers Branches and Lloyd’s India) Regulations, 2024 o Insurance Regulatory and Development Authority of India (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 o Insurance Regulatory and Development Authority of India (Protection of Policyholders' Interests, Operations and Allied Matters of Insurers) Regulations, 2024 • Insurance Act, 1938 o Arrangement of Sections o Text of the Insurance Act, 1938, as amended up to date o Appendix I: Applicability of provisions of this Act to SEZs/IFSCs o Subject Index o Insurance (Appeal to Securities Appellate Tribunal) Rules, 2016 • Master Directions – Insurance (FED Master Direction No. 9/2015-16, Dated 1-1-2016 (Updated as of 7th December, 2021)

Download or read book Taxmann s Insurance Laws Manual Authentic Compendium on Insurance Laws of India Covering the Insurance IRDA Act 70 Rules Regulations Master Directions etc 2024 Edition written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-02-03 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides comprehensive coverage of Insurance Laws in India. It covers updated & amended text of the following Laws: • Insurance Regulatory and Development Authority Act, 1999 (IRDA), as amended up to date • 70+ Rules/Regulations framed under the IRDA Act • Insurance Act, 1938, as amended up to date, along with: o Applicability of Provisions of the Insurance Act to SEZs/IFSCs o Insurance (Appeal to Securities Appellate Tribunal (Rules), 2016 • Master Directions – Insurance, including FED Master Direction No. 9/2015-16, Dated 1-1-2016 (Updated as on December 7, 2021) It also includes a 'Guide to Insurance Laws' to give an overview of Insurance Laws in India. The Present Publication is the 25th Edition & amended up to 31st December 2023. This book is edited by Taxmann's Editorial Board, with the following detailed coverage: • Insurance Regulatory and Development Authority Act, 1999 o Arrangement of Sections o Text of the Insurance Regulatory and Development Authority Act, 1999, as amended up to date o Subject Index • Rules & Regulations Framed under Insurance Regulatory and Development Authority Act, 1999 o Insurance Regulatory and Development Authority of India (Actuarial Report and Abstract for Life Insurance Business) Regulations, 2016 o Insurance Regulatory and Development Authority of India (Insurance Advertisements and Disclosure) Regulations, 2021 o Insurance Regulatory and Development Authority (Licensing of Insurance Agents) Regulations, 2000 o Insurance Regulatory and Development Authority of India (General Insurance – Re-insurance) Regulations, 2016 o Insurance Regulatory and Development Authority of India (Assets, Liabilities and Solvency Margin of General Insurance Business) Regulations, 2016 o Insurance Regulatory and Development Authority of India (Assets, Liabilities and Solvency Margin of Life Insurance Business) Regulations, 2016 o Insurance Regulatory and Development Authority (Meetings) Regulations, 2000 o Insurance Regulatory and Development Authority (Insurance Advisory Committee) Regulations, 2000 o Insurance Regulatory and Development Authority of India (Investment) Regulations, 2016 o Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor's Report of Insurance Companies) Regulations, 2002 o Insurance Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of Chairperson and Other Members) Rules, 2000 o Insurance Regulatory and Development Authority (Conditions of Service of Officers and Other Employees) Regulations, 2000 o Insurance Regulatory and Development Authority of India (Third Party Administrators – Health Services) Regulations, 2016 o Insurance Regulatory and Development Authority (Annual Report – Furnishing of Return, Statements and Other Particulars) Rules, 2000 o Insurance Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2001 o Insurance Regulatory and Development Authority of India (Re-insurance) Regulations, 2018 o Insurance Regulatory and Development Authority of India (Re-insurance Advisory Committee) Regulations, 2019 o Insurance Regulatory and Development Authority of India (Protection of Policyholders' Interests) Regulations, 2017 o Insurance Regulatory and Development Authority (Distribution of Surplus) Regulations, 2002 o Insurance Regulatory and Development Authority (Manner of Receipt of Premium) Regulations, 2002 o Insurance Regulatory and Development Authority (Licensing of Corporate Agents) Regulations, 2002 o Tariff Advisory Committee (Election of Members, Meetings, Functions and Miscellaneous) Regulations, 2004 o Insurance Regulatory and Development Authority of India (Micro Insurance) Regulations, 2015 o Insurance Regulatory and Development Authority (Sharing of Database for Distribution of Insurance Products) Regulations, 2010 o Insurance Regulatory and Development Authority (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010 o Insurance Regulatory and Development Authority (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011 o Insurance Regulatory and Development Authority of India (Issuance of Capital by Indian Insurance Companies Transacting Life Insurance Business) Regulations, 2015 o Insurance Regulatory and Development Authority (Scheme of Amalgamation and Transfer of Life Insurance Business) Regulations, 2013 o Insurance Regulatory and Development Authority (Life Insurance-Re-insurance) Regulations, 2013 o Insurance Regulatory and Development Authority of India (Health Insurance) Regulations, 2016 o Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019 o Insurance Regulatory and Development Authority of India (Non-Linked Insurance Products) Regulations, 2019 o Insurance Regulatory and Development Authority of India (Issuance of Capital by Indian Insurance Companies Transacting other than Life Insurance Business) Regulations, 2015 o Insurance Regulatory and Development Authority (Sharing of Confidential Information Concerning Domestic or Foreign Entity) Regulations, 2012 o Insurance Regulatory and Development Authority (Licensing of Banks as Insurance Brokers) Regulations, 2013 o Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017 o Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018 o Insurance Regulatory and Development Authority of India (Registration of Insurance Marketing Firm) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Fee for Registering Cancellation or Change of Nomination) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Fee for Granting Written Acknowledgement of the Receipt of Notice of Assignment or Transfer) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Obligation of Insurer in Respect of Motor Third Party Insurance Business) Regulations, 2015 o Indian Insurance Companies (Foreign Investment) Rules, 2015 o Insurance Regulatory and Development Authority of India (Places of Business) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Maintenance of Insurance Records) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Minimum Limits for Annuities and Other Benefits) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Acquisition of Surrender and Paid-up Values) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Insurance Services by Common Public Service Centres) Regulations, 2019 o Insurance Regulatory and Development Authority of India (Registration and Operations of Branch Offices of Foreign Re-insurers other than Lloyd's) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Regulation of Insurance Business in Special Economic Zone) Rules, 2015 o Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015 o Insurance Regulatory and Development Authority of India (Issuance of e-Insurance Policies) Regulations, 2016 o Insurance Regulatory and Development Authority of India (Loans or Temporary Advances to the Full Time Employees of the Insurers) Regulations, 2016 o Insurance Regulatory and Development Authority of India (Lloyd's India) Regulations, 2016 o Insurance Regulatory and Development Authority of India (Inspection and Fee for Supply of Copies of Returns) Regulations, 2015 o Insurance (Procedure for Holding Inquiry by Adjudicating Officer) Rules, 2016 o Insurance Regulatory and Development Authority of India (Appointment of Insurance Agents) Regulations, 2016 o Insurance Regulatory and Development Authority of India (Outsourcing of Activities by Indian Insurers) Regulations, 2017 o Insurance Ombudsman Rules, 2017 o Insurance Regulatory and Development Authority of India Guidelines on Transitory Provisions under Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2017 o Insurance Regulatory and Development Authority of India (Investment by Private Equity Funds in Indian Insurance Companies) Guidelines, 2017 o Insurance Regulatory and Development Authority of India (Regulatory Sandbox) Regulations, 2019 o Insurance Regulatory and Development Authority of India (Minimum Information Required for Investigation and Inspection) Regulations, 2020 o Insurance Regulatory and Development Authority of India (Manner of Assessment of Compensation to Shareholders or Members on Amalgamation) Regulations, 2021 o Insurance Regulatory and Development Authority of India (Other Forms of Capital) Regulations, 2022 o Insurance Regulatory and Development Authority of India (Registration of Indian Insurance Companies) Regulations, 2022 o Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2022 o Insurance Regulatory and Development Authority of India (Payment of Commission) Regulations, 2023 o Insurance Regulatory and Development Authority of India (Expenses of Management of Insurers transacting Life Insurance Business) Regulations, 2023 o Insurance Regulatory and Development Authority of India (Expenses of Management of Insurers transacting General or Health Insurance Business) Regulations, 2023 • Insurance Act, 1938 o Arrangement of Sections o Text of the Insurance Act, 1938, as amended up to date o Appendix I: Applicability of provisions of this Act to SEZs/IFSCs o Subject Index o Insurance (Appeal to Securities Appellate Tribunal) Rules, 2016 • Master Directions – Insurance FED Master Direction No. 9/2015-16, Dated 1-1-2016 (Updated as on December 7, 2021)

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Download or read book Business Environment written by Francis Cherunilam and published by . This book was released on 2010 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. AN OVERVIEW OF BUSINESS ENVIRONMENT 2. INDUSTRIAL AND FDI POLICIES 3. FISCAL POLICY 4. MONETARY POLICY 5. BALANCE OF PAYMENTS 6. FOREIGN TRADE OF INDIA: POLICY AND PERFORMANCE 7. WORLD TRADE ORGANISATION 8. THE INDIAN FINANCIAL SYSTEM 9. MONEY AND CAPITAL MARKETS CASES.

Download or read book Regulation of Fixed term Employment Contracts written by Roger Blanpain and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades enterprises worldwide have reaped advantages of hiring employees on a contractual fixed-term basis, thus derogating from their traditional participation in the social protection of workers and insulating themselves from legal liability for unjust dismissal. A broad spectrum of effectiveness has emerged in this development, as different countries have adopted varying measures to regulate the conditions under which fixed- term employment contracts are written, applied, and interpreted. This important book --- which reprints papers submitted to the 10th Comparative Labour Law Seminar of the Japan Institute for Labour Policy and Training held in Tokyo on 8 and 9 March 2010 - details the regulatory approaches to fixed-term contracts in major industrial jurisdictions in Asia and Europe, providing an opportunity to explore normative directions for labour law and policy in the age of a diversified workforce. Nine Knowledgeable and experienced contributors describe and analyse the legal status of fixed-term employment contracts (including relevant case law) in Australia, Britain, China, France, Germany, Japan, Korea, Sweden, and Taiwan. Each author takes into account evaluations from scholars, policymakers, and stakeholders to his or her country's regulatory approach to fixed-term employment contracts, revealing an array of responses ranging from a view that such contracts enhance employment opportunities in society to advocating suppression of their use as inherently abusive and discriminatory. The combined effect of these nine essays is to greatly increase our awareness of the nature of fixed-term employment contracts, from their fundamental value as social policy instruments to their inextricable connection with the law of dismissal. The book sets the stage for deeper and more firmly grounded work that promises to elucidate the underlying pattern of a new employer-employee relationship emerging on a worldwide scale.

Download or read book Global Perspectives on Constitutional Law written by Vikram Amar and published by Oxford University Press. This book was released on 2009 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors introduce students to the various ways that nations other than the United States resolve contemporary constitutional questions. Covering both structural issues and individual rights, each chapter presents foreign case materials on a particular topic, comparing U.S and other nations' laws.

Download or read book Creating Technology Driven Entrepreneurship written by Giuseppina Passiante and published by Springer. This book was released on 2016-08-27 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes a comprehensive analysis of the existing schools of thought on technology-driven entrepreneurship to point out the process-based nature of this phenomenon. It explores whether entrepreneurship can be learned and examines the main processes that help influence entrepreneurial mind-sets. In the current economic landscape, technology-driven entrepreneurship is the driving force behind national economies and entrepreneurial societies. It is the engine of innovation, job creation, productivity and economic growth, bringing benefits both at the level of the individual and of the society and promoting sustainable smart growth and development. This book provides a comprehensive view of “how” entrepreneurs and future entrepreneurs learn and develop their business ventures in a wider environment. Moreover, it discusses issues concerning setting up the suitable entrepreneurial environments, processes, values and policies to encourage and foster individual entrepreneurial aptitudes. It also explores practices for developing technology-driven entrepreneurship in a European context as well as in emerging regions.

Download or read book Guide to Compounding Adjudication and Prosecution written by K S Ravichandran and published by Bloomsbury Publishing. This book was released on 2020-05-23 with total page 834 pages. Available in PDF, EPUB and Kindle. Book excerpt: Highlights ? A complete guide to provisions, procedure and judicial precedents on offences and contraventions under the Company Law, Securities Laws and FEMA. ? Compounding of offences and adjudication of penalties and appeals thereof. ? Directions, disgorgement and settlement of proceedings under Securities Laws and other Relief and Remedies under the Companies Act, 2013. ? Search, seizure, enquiry, inspection and investigation under the Company Law, Securities Laws and FEMA. ? Crisp account of cognizable, bailable and non-bailable offences ? Trial procedures, and quashing of criminal complaints under the Criminal Procedure Code.

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Download or read book Environmental Protection written by Robert L. Glicksman and published by Aspen Publishers. This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: When you purchase a new version of this casebook from the LIFT Program, you receive 1-year FREE digital access to the corresponding Examples & Explanations in your course area. Now available in an interactive study center, Examples & Explanations offer hypothetical questions complemented by detailed explanations that allow you to test your knowledge of the topics covered in class. Starting July 1, 2017, if your new casebook purchase does not come with an access code on the inside cover of the book, please contact Wolters Kluwer customer service. The email address and phone number for customer service are on the copyright page, found within the first few pages, of your casebook. Environmental Protection: Law and Policy welcomes Daniel Bodansky, a leading expert on global climate change and international law, as its distinguished new co-author. Completely updated and revised, the Sixth Edition offers a new chapter covering climate change and a substantially revised chapter on international environmental law. Environmental Protection: Law and Policy, now in its Sixth Edition, features a complete introduction to the history of environmental protection, laws and regulations, regulatory design strategies, and policy objectives analysis of constitutional federalism and related policy questions concerning the design and implementation of environmental protection programs an international and interdisciplinary approach that incorporates science, economics, and ethics coverage of the major federal pollution control laws--the Clean Air Act, the Clean Water Act, the Resource Conservation and Recovery Act, CERCLA, and more two chapters on natural resource management issues, focusing on the National Environmental Policy Act and the Endangered Species Act, but also including national forest management landmark and cutting-edge cases with explanatory text, notes and questions charts and graphics, plus numerous exercises and problems. Author website, Teacher's Manual, and annual summer Professor's Updates Completely updated, the Sixth Edition includes a new chapter on climate change that covers important scientific, policy, and program design questions coverage of the 2010 Deepwater Horizon oil spill and its implications for environmental assessment, common law liability, remediation of oil spills, and imposition of liability under the Oil Pollution Act a new section providing comparative analysis of remediation of chemical and oil spills under CERCLA, RCRA, and the Oil Pollution Act substantial revision of the chapter on international environmental law recent developments in preemption law important cases decided by the Supreme Court and the federal Courts of Appeals since the publication of the last edition new problems and streamlined text and note materials

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Download or read book Fundamentals of Credit and Credit Analysis written by Arnold Ziegel and published by Createspace Independent Publishing Platform. This book was released on 2015-01-14 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arnold Ziegel formed Mountain Mentors Associates after his retirement from a corporate banking career of more than 30 years at Citibank. The lessons learned from his experience in dealing with entrepreneurs, multinational corporations, highly leveraged companies, financial institutions, and structured finance, led to the development and delivery of numerous senior level credit risk training programs for major global financial institutions from 2002 through the present. This book was conceived and written as a result of the development of these courses and his experience as a corporate banker. It illustrates the fundamental issues of credit and credit analysis in a manner that tries to take away its mystery. The overriding theme of this book is that when an investor extends credit of any type, the goal is "to get your money back", and with a return that is commensurate with the risk. The goal of credit analysis is not to make "yes or no" decisions about the extension of credit, but to identify the degree of risk associated with a particular obligor or a particular credit instrument. This is consistent with modern banking industry portfolio management and the rating systems of credit agencies. Once the "riskiness" of an obligor or credit instrument is established, it can be priced or structured to match the risk demands or investment criteria of the entity that is extending the credit. A simple quote from Mr. J. P. Morgan is used often in this text - "Lending is not based primarily on money or property. No sir, the first thing is character". This statement represents one of the conflicts in modern credit analysis - that of models for decision making versus traditional credit analysis. The 2008 financial crisis was rooted in the mortgage backed securities business. Sophisticated models were used by investors, banks, and rating agencies to judge the credit worthiness of billions (and maybe trillions) of dollars worth of residential mortgage loans that were packaged into securities and distributed to investors. The models indicated that these securities would have very low losses. Of course, huge losses were incurred. Mr. Morgan had a good point. In this case is was both property and character. The properties that were the collateral for many of the mortgages had much less value than was anticipated. The valuation of the collateral was na�ve and flawed. Many assumptions were made that the value of homes would rise without pause. Many mortgage loans were made that were at or even above the appraised value of a residence.But character was a huge, perhaps larger, factor behind these losses. Many of the residential mortgage loans were made to individuals who knew that they did not have the income to make the required payments on the mortgages. Many of the mortgage brokers and lenders who made these loans also knew that many of the borrowers were not properly qualified. And, many of the bankers who securitized these loans also may have doubted the credit quality of some of the underlying mortgages. If bankers and rating agencies understood the extent of the fraud and lax standards in the fundamental loans backing the mortgage securities, or were willing to acknowledge it, the fiasco would not have occurred.

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