Ben Eisen

speaker

1,467 appearances 35 recordings 1 series first heard Jul 2017 last heard Nov 2024

Ben Eisen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Mortgage Lending Rules: No Tax Returns? No Problem! · 24 Jan 2019 podcast

I mean, you have a patchwork of regulators, but one thing that I think has changed in the years since the financial crisis is that a lot more loans these days are made by non-bank lenders, and they don't necessarily have all the regulatory oversight that the banks do. matched

So that's one area of concern that people have talked about, not just in this part of the market, but generally across the market, that you've had this growth of non-bank lenders. matched

That said, you have seen the bank regulators seem to be keeping an eye on it. matched

You had the OCC in one of their reports late last year. matched

They pointed out this type of loan called an asset depletion loan, which basically calculates your ability to repay based on your assets rather than your income. matched

Yeah, they just pointed out we've seen some of this being done, and not all of the underwriting standards are necessarily consistent, and they just wanted to sort of flag that. matched

So you do have some oversight of it, and it's something that I think folks will continue to watch. matched

Thank you. matched

WSJ Your Money Briefing · Structured Notes: Obstacles to Profiting Off Tech Stocks · 12 Sep 2018 podcast

A structured note is a pretty complex type of product, but it's often owned by everyday mom-and-pop investors. matched

And these are products that are basically meant to kind of transform the risk profile of an investment like a stock. matched

So think of the way a stock goes up, but it can also go down. matched

You can make a lot of money, but you can lose a lot of money. matched

The idea here is by sort of some form of financial engineering, you are taking this stock and perhaps you have less risk of principal losses but a little bit less risk of gains. matched

Yeah, there's a very popular type of structured product these days called an auto callable note. matched

And a lot of these notes are linked to some of these hot tech stocks like Facebook and Amazon and Netflix. matched

And what happens basically is you earn a coupon, much like a bond. matched

You earn interest, but the note can automatically be called. matched

And usually it's called if the underlying stock rises. matched

So an investor might see kind of this teaser yield that might advertise double-digit annual returns, but the note is actually called in way less than a year. matched

So after a month or a few months, a quarter, six months, the note gets called and you earn a fraction of that. matched

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