Subprime Mortgages

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  

Photo via First Strung A new report from the Friends of the Earth says that cap and trade systems are dangerous. They allow traders to package emissions permits into complex financial products and sell them in bundles--much like they did with subprime mortgages. And we all know how that went. ...Read the full story on TreeHugger  

Two Bear Stearns executives who ran hedge funds that collapsed after betting heavily on the shaky subprime-mortgage market were acquitted Tuesday of lying to investors — a defeat in the government's bid to punish fraud exposed by the financial crisis.  

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...  

An alert reader recently sent us a copy of a news story that reported: “In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.“ “Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton administration to expand...  

When a prime mortgage is not approved, many people look toward a subprime mortgage. Subprime mortgages are available to people who were refused for a prime mortgage. Contributor: Karen CurleyPublished: Oct 15, 2009  

The acquittal of two Bear Stearns Cos. hedge-fund managers in a subprime-mortgage fraud case that relied heavily on e-mail evidence may make it more difficult for the government to win related cases based on similar facts.The loss in the face of allegedly incriminating com....  

Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers. More on Banks  

von Kent Cherny und Yuliya Demyanyk * The global crisis is said to have originated in the US subprime mortgage market. This column argues that many of the most popular explanations that have emerged for the subprime crisis are, to a large extent, myths. Subprime mortgages have received a lot of attention in the US since 2000, when the number of subprime loans being originated and refinanced shot up rapidly. The attention intensified in...  

Subprime lender Start criticised for court actionsIrish IndependentSTART Mortgages has been heavily criticised as it tends to take a large number of repossession actions in the High Court. ...  

Joe Nocera, who writes the Executive Suite column for the New York Times, has done an interesting thing today. He 1) points out banks are lying about their involvement in subprime mortgages, he 2) notes that Barney Frank is absolutely wrong to defend them and 3) offers documents that support his claim. This is something we used to call "journalism," and I'm happy to see it: “There has not been a case made that there is an enforcement problem...  

IRVINE, Calif. Goldman Sachs was one of the last Wall Street giants to enter the subprime lending world, but when it did, it quickly climbed into bed with profligate, highflying firms companies such as New Century Financial Corp. In at least nine deals from 2002 to 2007, Goldman sold bonds backed by more than $5 billion of New Century s mortgages, one even after the California lender s underwriting criteria all but disintegrated and a...  

Reverse mortgages could be the next subprime crisis. Some of the same subprime lenders that helped drive the real estate boom with loans to home buyers who couldn't afford the payments are now targeting seniors, the National Consumer Law Center warned Tuesday. Brokers, who are given financial incentives to sell the loans, may be making misleading claims to potential customers, according to a report by Boston-based NCLC. "This market is...  

FreeRateUpdate.comBank of America Refinance Mortgage Rates – 30 Year Fixed at 4.8%Subprime BloggerBank of America refinance mortgage rates are going against the 10 year treasury rate yield today and falling to new lows. The conventional 30 year fixed ...Bank of America Refinance Mortgage Rates – Interest Rates Still Below 5%Subprime Bloggerall 49 news articles »  

MiamiHerald.comReverse Mortgages Are "Subprime Revisited," Says Consumer Law GroupHuffington Post (blog)The National Consumer Law Center argues that the industry is rife with abuse: deceptive marketing claims that unfairly target seniors; a lack of sufficient ...National Consumer Law Center says same tricks that drove subprime lending ...The Plain Dealer - cleveland.comReverse Mortgages Ripe for Consumer Abuse?U.S. News & World ReportReverse...