| What is RSS feed? | About Us |
 |
 Search Score: 5/10
Source: news.yahoo.com --- 33 days ago
Middle- and upper-income Borrowers accounted for more than two-thirds of high-rate mortgages issued in 2006, according to a new survey by ComplianceTech. ...
Source: www.injuryboard.com --- 7 days ago
The Hope Now coalition released information yesterday that finds prime foreclosure starts have finally moved ahead of Subprime foreclosure starts for the first time since the industry coalition began (Hope Now originated last July). And, likely, for the first time in a much longer timeframe, according to HousingWire.com . Since the media's attention has recently been focused squarely on the Democratic Convention, Republicans' reactions to it, and the upcoming Republican Convention, most housing news (good or bad; and most of it's been bad) has gone unnoticed. Prime Borrowers do have the potential of being helped by the housing rescue bill that was passed last month, but the problem is that some of these Borrowers were put into "creative mortgages" like option ARM loans with teaser interest rate payment options, and those loans have been more difficult to reform under new lending rules. (Plus, lenders don't want to modify the loans quite yet; they're still hoping they won't have to absorb such large losses that they technically brought on themselves when they decided to recklessly flood the marketplace with so many porous loans.) It's also unfortunate that prime Borrowers who were sold "creative mortgages," were largely unaware that throughout the promissory notes, especially in states like Arizona, California, and Florida, were several TILA violations . Bank executives have already been beating the drum that evidence of prime bor ... Source: pubcit.typepad.com --- 18 days ago
Another roundup of article in recent issues of the Times: Friday's Times brought another important installment in "The Debt Trap" series, this one headlined "Home Equity Frenzy Was a Bank Ad Come True," about how banks reframed second mortgages--once seen... ... Source: blog.steverrobbins.com --- 16 days ago
The New York Times had an article today on the advertising campaigns that led to the spate of Subprime borrowing. The reader comments fall into two broad categories: “Borrowers should have known what they were getting into.” and “Big, bad, evil banks.” I think both attitudes are naive. Borrowers should have known… Really? Borrowers should have known? How? [...] ...
Source: www.moreover.com --- 15 days ago
Who's to blame for the Subprime crisis? Real estate speculators, mortgage brokers, underwriters, ratings agencies, Borrowers, appraisers and investment bankers have come under scrutiny for the roles they played. ... Source: online.wsj.com --- 27 days ago
Subprime turmoil has led some states to take action against "payday lenders," which offer high-interest loans to cash-strapped Borrowers. Politicians who once steered clear of limiting the availability of credit now find capping interest rates more palatable. ... Source: www.nypost.com --- 6 days ago
Still badly bruised by a fiasco in Subprime lending, Wall Street has found a new outlet for providing loans to shaky Borrowers: so-called asset-based lending. Asset-based loans tend to be tied to a company's receivables - such as their inventory... ... Source: www.ft.com --- 22 days ago
Efforts to avert foreclosures are being complicated by the large number of Subprime Borrowers who took out second mortgages so they could afford the downpayments on their homes, industry executives say ... Source: www.ft.com --- 7 days ago
Borrowers with Subprime mortgages are likely to see their interest rate jump close to 10 per cent once their cheap short-term deal expires, according to new research ... Source: www.marketplacemoney.org --- 25 days ago
Many with good credit took out the same kinds of loans behind the Subprime mess and those Borrowers are starting to feel the same pain. Host Tess Vigeland talks to a listener with good credit and an interest-only loan. ... Source: www.nowpublic.com --- 13 days ago
When the crisis in the mortgage industry began, it primarily hit Subprime Borrowers. As the foreclosure crisis endured, home values started declining and eventually affected homeowners who are considered to be... read more ... Source: www.marketplacemoney.org --- 25 days ago
How did prime Borrowers end up in the same boat as Subprime Borrowers? Host Tess Vigeland asks real estate investor Jeremy Brandt what was behind the push towards adjustable-rate and interest-only loans. ... Source: www.dailypress.com --- 13 days ago
The Subprime crash should prompt a real limit on payday loans The Wall Street Journal recently reported that "the spreading Subprime-loan debacle has emboldened some state governments to move aggressively against 'payday lenders,' outfits that offer high-interest-rate loans to cash-strapped Borrowers who pledge to repay them when their next check arrives." ... Source: www.mcall.com --- 23 days ago
Without a doubt, the lending free-for-all is over. Lenders today no longer are willing to gamble on prospective homeowners who can't provide them with some assurances of long-term financial stability. The rising numbers of mortgage-loan defaults have rattled financiers and slowed the Subprime-mortgage market for Borrowers with weaker credit histories. ... Source: www.housingwire.com --- 7 days ago
There can be no remaining doubt that the nation’s mortgage crisis has become a problem for prime credit Borrowers: data released by the HOPE NOW coalition on Wednesday finds that prime foreclosure starts have finally moved ahead of Subprime foreclosure starts, for the first time since the industry coalition began collecting data in July of [...] ... Source: www.housingwire.com --- 13 days ago
An early look at Subprime RMBS performance in July, courtesy of Clayton Fixed Income Services, Inc., suggests that a recent lull in Subprime delinquencies may be coming to an end. The percentage of Subprime Borrowers 60 or more days in arrears at the end of last month surged for both the 2006 and 2007 vintages, [...] ... Find more results for Subprime Borrowers on RSSMicro.com |
Copyright © 2008 RSSMicro.com
In response to the Subprime mortgage foreclosure crisis sweeping New York City, the highest court in the State is finding new ways to provide homeowners with legal advice and representation if they are faced with foreclosure. A series of startling court decisions nationwide have ruled against Subprime lenders attempting to foreclose on Borrowers after failing to legally establish ownership of the loans in question because they had been 'transferred' multiple times. New York Chief Justice Judith Kaye has now called for a special Foreclosure Court to deal solely with foreclosure cases in Queens -- where, the New York Post reports, the number of foreclosures has increased 81 percent in just one year. The Court will serve as an alternative dispute process -- advising homeowners of legal options by proactively sending notices to homes under threat of foreclosure. "Reaching out" to homeowners Judge Kaye is concerned about New Yorkers losing their homes in "record numbers," and wants Borrowers to know that legal representation is available. "We are hoping people will reach out… and get counsel," she told the Voice. Judge Kaye said since January 2005, foreclosure filings have increased 150% statewide. "Queens has over 15,000 new foreclosures pending...they are overwhelmingly defaults... but we don't know who the people are -- we don't see a profile," she said. Nationwide, court initiatives similar to the Queens project are helping borrowe ...
During the spring of 2007, when the Subprime mortgage crisis was just beginning to rear its ugly, complicated, deeply entrenched head, the New York Assembly held an all-day hearing in search of a solution. The Assembly listened to testimony from consumer groups, mortgage brokers, members of the banking department, and housing agencies -- all debating the myriad causes of the emerging economic black hole. Several witnesses raised the specter of secret payments, made by lenders to mortgage brokers in 90 percent of the Subprime deals here and across the country. The payments -- known as yield spread premiums, or YSPs -- are mostly a secret to Borrowers, who mistakenly believe that the brokers are representing them in obtaining the cheapest possible mortgage. And most of the front-page and television coverage of the crisis does nothing to enlighten them, though YSPs cost them an estimated $3 billion a year. The watered-down version of the Responsible Lending Act that Gov. Paterson signed this past Tuesday does little to curb their potential future damage. YSPs are called spread premiums because they’re based on the spread between what a borrower would ordinarily pay for a loan and the higher interest rate the broker convinces the borrower to pay. YSPs are a cash bonus that have been branded “kickbacks” by at least one federal judge and are generally understood (well, aside from the brokers who profit from them) to have pushed million ...
Posted By: Diana Olick I’m always asking the question: If there are so many lenders and so many programs trying to help troubled Borrowers, why do the foreclosure numbers keep going up? Read More Topics: Subprime Lending | Interest Rates | Housing | Real Estate Sectors: Financial Services | Construction and Materials MEDIA: PHOTO Permalink ...
Reuters Up To Its Fannie In Trouble Forbes - 2 hours ago After Subprime Borrowers finished beating up on Fannie Mae, the Alt-A's are getting their turn. Losses on those loans to allegedly creditworthy Borrowers with lightly documented loans led the goverment-backed mortgage agency to post worse-than-expected ... Fannie cuts dividend after $6bn losses Financial Times Credit expenses lead to $2.3 billion loss for Fannie MarketWatch New York Times - Bloomberg - CNNMoney.com - guardian.co.uk all 1,903 news articles ...