4 Articles match "Foreclose","New York","Subprime"

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New York Versus Freddie Mac: Round One
New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens
www.realtytrac.com - Tuesday, February 3, 2009
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High-End Foreclosures Rising Among Top Tier Homes
High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing. This is just the tip of the iceberg.” McCabe believes that delinquencies and defaults will rise not only among subprime borrowers, but among prime mortgages, Alt-A loans, teaser rate loans and low money-down
www.realtytrac.com - Tuesday, February 3, 2009
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Study Forecasts Rising Subprime Foreclosures
A new study released yesterday by the Center for Responsible Lending projects that one out of five subprime mortgages originated in the past two years will end in foreclosure, costing homeowners as much as $164 billion. “This rate is nearly double the projected rate of subprime loans made in 2002, and it exceeds the worst foreclosure experience in the modern mortgage market, which occurred during the “Oil Patch” disaster of the 1980s. The study, which cites RealtyTrac numbers as one of its sources, looked at subprime foreclosure rates from 1998 through 2006 and closely
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • New York Versus Freddie Mac: Round One
    New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • Study Forecasts Rising Subprime Foreclosures
    A new study released yesterday by the Center for Responsible Lending projects that one out of five subprime mortgages originated in the past two years will end in foreclosure, costing homeowners as much as $164 billion. “This rate is nearly double the projected rate of subprime loans made in 2002, and it exceeds the worst foreclosure experience in the modern mortgage market, which occurred during the “Oil Patch” disaster of the 1980s. The study, which cites RealtyTrac numbers as one of its sources, looked at subprime foreclosure rates from 1998 through 2006 and closely
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • High-End Foreclosures Rising Among Top Tier Homes
    High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing. This is just the tip of the iceberg.” McCabe believes that delinquencies and defaults will rise not only among subprime borrowers, but among prime mortgages, Alt-A loans, teaser rate loans and low money-down
    www.realtytrac.com - Tuesday, February 3, 2009
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  • As Foreclosures Mount, Candidates React to the Credit Crisis
    Clinton also wants the government to impose new disclosure requirements on mortgage brokers and curb their ability to dictate lending terms. “We need to act now with smart, practical solutions to strengthen our housing and mortgage markets,” Clinton told The Associated Press. “We Furthermore, Obama called for tighter mortgage regulation and blamed lobbyists working on behalf of lenders for obstructing tougher regulation of the subprime industry, adding: “The rules currently governing mortgages were written in the 20th century to make borrowing easier to understand for borrowers.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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