Don't get taken by phony bonds

Article Abstract:

Contractors who buy surety bond insurance should beware of fraudulent sellers of this default insurance. The seller may be an imposter from a fictitious company, or they may falsely claim to be from a genuine company. Contractors should always verify that the issuer of the surety bonds is legitimate.

Investigations, Crime, Insurance, Contractors, Surety bonds, Insurance fraud

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TAX-EXEMPT BONDS FOR HOME LOANS

Article Abstract:

TAX EXEMPT BOND PROGRAMS DESIGNED TO EASE THE FINANCING PROBLEMS FOR OWNER-OCCUPIED HOUSES AND IN USE SINCE THE EARLY 1970S ARE LIKELY TO CONTINUE. CONGRESS WANTS TO MORE CLOSELY LIMIT THEIR USE TO LOWER-INCOME, FIRST-TIME BUYERS AND THOSE WILLING TO BUY IN DOWN-AT-THE-HEELS URBAN AREAS.

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SBA incurs substantial losses on collateral for loans

Article Abstract:

The General Accounting Office reports that the Small Business Administration (SBA) loses substantially when it liquidates collateral on defaulted loans. SBA should establish procedures for valuating collateral and to oversee liquidations.

Economic aspects, Finance, Reports, Secured transactions, United States. Small Business Administration, United States. Government Accountability Office

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