1 Articles match "Bank Owned","Homes","Wells Fargo"
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Stumbling Subprimes Spell Opportunity
Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. The tightened lending standards, coupled with stagnant home price appreciation, leaves many homeowners in default unable to refinance their way out of foreclosure. The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. This bottom-line reality
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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The Best from RealtyTrac
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MORE
|
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Stumbling Subprimes Spell Opportunity
Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. The tightened lending standards, coupled with stagnant home price appreciation, leaves many homeowners in default unable to refinance their way out of foreclosure. The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. This bottom-line reality
www.foreclosurepulse.com
- Tuesday, December 16, 2008
