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Subprime Mortgages
How will subprime mortgages, and more importantly defaults of subprime mortgages impact the real estate market as well as the US economy as a whole?
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Our economy is about to relapse into the disease that sent us into the Great Depression: Part Deux. Subprime loans caused the initial illness. Option-ARMs will cause the relapse. In the first half of the past decade, subprime loans were king. They were cheap and easy to get approved. Along with the subprime boom came subprime adjustable-rate mortgages (ARMs), which were equally easy to afford
for a while. Of course, the A and the R in ARM...
- New York FC Law Extends Subprime Reforms To All Borrowers (news.google.com)
- Bank of America Program Helps 100,000 Subprime, Option-ARM Borrowers Avoid... (rss.prnewswire.com)
It was given the blame for the current state of the U.S Economy and rightfully so. But now with taxpayers on the hook for generations to come with the current set of government programs, should the Subprime mortgage be given a second look?Contributor: Deandre ParkerPublished: Nov 12, 2009
From associatedcontent.com
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- SEC accuses 3 ex-New Century executives of fraud over subprime mortgage... (static.canadaeast.com)
- What Can Subprime Mortgage Brokers Do For Me | Whalehook Loans (blogsearch.google.com)
Remember the mortgage losers -- all those irresponsible Americans who took out loans they could not afford at the height of the housing boom, but then got caught with their pants down by the bust? They're an ever-popular scapegoat for those whose preference is to blame the financial crisis on the moral failings of individual American homeowners, rather than on the lenders and financial institutions who created the incentives for so much bad...
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From salon.com
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Securities regulators on Monday charged three former executives at now-bankrupt lender New Century with fraud, the latest government attempt to bring major players in the subprime mortgage market to justice.
From nydailynews.com
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- SEC charges New Century executives (ftalphaville.ft.com)
- SEC charges ex-N.Century execs in subprime case (abcmoney.co.uk)
- Hedge-funders acquitted in subprime bust (denverpost.com)
Two former Bear Stearns hedge fund managers who made very, very bad bets on subprime mortgages, Ralph Cioffi and Matthew Tannin, were found not guilty of securities fraud in Brooklyn federal court on Tuesday. The verdict invites a look back at how the history of the financial crisis is being written in real time.
William D. Cohan's riveting account of the fall of Bear Stearns, "House of Cards: A Tale of Hubris and Wretched Excess on Wall...
From salon.com
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- 2 ex-Bear Stearns hedge-fund managers acquitted (sfgate.com)
- Bear Stearns execs cleared in hedge fund fraud (sfgate.com)
- Acquittals may hurt future subprime cases (dailyreportonline.com)
Reuters - UBS AG will not sue its former bosses after risky bets on subprime mortgages and a strategy of helping U.S. clients dodge taxes by hiding money in secret accounts brought the Swiss bank to its knees.
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From rss.news.yahoo.com
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Seems like the beginning of a trend to me.
A Los Angeles lawyer who had represented a failed subprime mortgage lender is found dead outside his home, having been shot in the head.
Three men allegedly invade the home of a former subprime lender, and are arrested after reportedly injuring three people inside.
Vandals target the home of [...]
From feedburner.com
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- Subprime Meltdown: Saw It Coming (timesdispatch.com)
A Los Angeles lawyer who had represented a failed subprime mortgage lender is found dead outside his home, having been shot in the head.
Three men allegedly invade the home of a former subprime lender, and are arrested after reportedly injuring three people inside.
Vandals target the home of the former CEO of the Royal Bank of [...]
From feedproxy.google.com
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- Bankers might be feeling public's wrath (sott.net)
SAN JOSE, Calif. - When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced firsthand the perils of subprime mortgages.The couple wound up in a desperate, six-year fight to keep their modest, 1,500-square-foot San Jose home, a struggle that pushed them into bankruptcy.The lender with whom they [...]
From lmtribune.com
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- Goldman Sachs Seizing Homes Subprime Mortgages Bought (huffingtonpost.com)
Posted To: MND NewsWireThree former mortgage executives were charged with fraud on Monday for activities growing out of their roles at the defunct New Century Mortgage The charges were brought by the U.S. Securities and Exchange Commission (SEC) which accused the three of covering up the rapidly declining financial condition of their firm before it filed for bankruptcy in April, 2007. The three are Brad Morrice, former Chief Executive; Patti...
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From mortgagenewsdaily.com
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Regulators accuse the three of manipulating numbers and concealing negative information from shareholders as the company collapsed into bankruptcy.
Federal regulators today sued three former officers of New Century Financial Corp., accusing them of misleading investors of the Irvine subprime lender as the mortgage meltdown began in 2006.
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From latimes.com
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At the Economic Policy Institute, Gregory D.Squires, Derek S. Hyra and Robert N.Renner write: While there has been widespread recognition that racial minorities are among the hardest hit by the subprime mortgage crisis, racial residential segregation has not been considered a factor behind the crisis in minority communities. Blame is being directed at ill-informed consumers, lax underwriting by loan originators, the failure of regulatory...
From dailykos.com
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- Us Financial Crisis Subprime Lending And Mortgage Fraud (blogsearch.google.com)
I know, I know. Subprime is so, like, 2007. And most of the financial press has moved onto sexier mortgage words like “option ARMs,” or “FHA loss reserves.”
That said, I thought it would be interesting to dive back into subprime waters, taking a granular look at individual deal performance using November remittance data from that [...]
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From housingwire.com
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An ex-subprime lender employee of a sent us the scripts they used to cold-call homeowners back in 2005 to get them to ditch their 30-year fixed mortgages for risky sub-prime loans. One of them is called, "Wholesale Gangsta Script," which I think about says it all right there.
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From digg.com
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Visit BulgariaBad Credit Home Loans – Home Mortgage Rates Low For Poor Credit Borrowers?Subprime BloggerIf you are a poor credit borrower who is seeking a low home mortgage rate it is highly unlikely that you will be able to obtain some of the low mortgage ...Bad Credit Mortgage Refinance – Lower Rates Even with Poor Credit?Subprime Bloggerall 86 news articles »
From news.google.com
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- Bad Credit Home Loans – Can Bank of America Help Me? (news.google.com)
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