Subprime Loans

Subprime loans are probably the one thing that we can put a finger on that has led us to this mortgage disaster ... to individuals who had credit scores well below 680.  It was almost as if these subprime lenders were willing to give anyone over the age of 18 with a beating heart a mortgage loan.  Sadly [more...]

Date: 2009-01-15 02:59:14

Blog posts (8) | Videos (19)
 

OBAMA HYPOCRISY---> Ex-Subprime Bank Executive Finances Campaign

Senator Obama constantly rails against those banks that pursued the deadly strategy of Subprime loans. His website says: Ensure More Accountability in the Subprime Mortgage Industry: Obama has been closely monitoring the subprime mortgage situation for years, [more...]

Date: 2008-10-29 03:55:06

The Challenge Is Prices Got Stupid

The Daily Astorian reports from Oregon. “An increasing number of homeowners in Clatsop County are falling behind on their mortgage payments and ... Joe Schulte, VP of Compass Community Bank in Seaside, said subprime loan programs were available ... as the loan criteria change each day. ‘Loan officers have to be ahead of the curve,’ he said. ‘There’ [more...]

Date: 2008-10-07 17:26:52

Mortgage Delinquencies Continue to Climb, Watch Out for Other Loans

It's beginning to get really ugly out there... unfortunately 13 months ago when we were told "this is just a subprime issue" ... , student loans, credit card debt. It's all coming down the pike. It appears the pike is coming right ... last year for many loan categories. Overall, 6.6% of mortgages were at least 30 days past due at the end [more...]

Date: 2008-09-23 17:13:49

Reasons you wouldn’t want to be a Swiss Central banker

... or, to be blunt, a Swiss taxpayer: proud holders both of a $60bn UBS monopoly-bond smorgasbord, a portfolio comprising a hefty chunk of Alt-A mortgages. As well as, in no particular order, subprime, prime, CMBS, student-loan securities, and a score of ARS notes. According to the Swiss Central [more...]

Date: 2008-10-16 11:10:35

Subprime Containment Theory Was a Lie

Conventional wisdom (or market spin) was that the risk of default from subprime would not spill over into Alt-A and Prime loans ... was the negative amortization loan. The loan balance can grow each month as the deferred interest is added ... they have not been widely exposed to these loan types. An adjustable rate mortgage resets to a different [more...]

Date: 2009-01-14 03:59:54

Are greedy wolves making government-insured mortgages?

Now that subprime is a dirty word and Wall Street firms are no longer making securities backed by loans to people with low credit scores, brokers and bankers are filling the void with a little help from Uncle Sam. They are making loans ... FHA, which is meant to expand credit to folks of modest means? John Courson, president of industry [more...]

Date: 2009-01-15 11:00:45

Alt-A and ARM resets could trigger another crisis!!!

We are winding down out of subprime and going into Alt-A and ARM resets. We have government funding for homes in two ways. One, incentives with lower rates and tax credits, but, there is more. The GSE’s are allowing loans that are 105% and where the monthly debt to income is over 60%. These loans have high default rates and we will pay the price as unemployment stays high. quote Let’s look at a few facts: The Fed is literally the entire mortgage market. Yes, really. [more...]

Date: 2009-09-29 18:15:58

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