58 Articles match "Mortgage","Subprime"

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• Stumbling Subprimes Spell Opportunity
  
  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. 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. This bottom-line reality is forcing many lenders to tighten their lending requirements. The tightened lending standards, coupled with stagnant home price appreciation,
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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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
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Subprime meltdown means jump in foreclosures
  
  subprime mortgage market after the bankruptcy of at least 20 lenders in the last two months, triggering a mass liquidation of securities on Wall Street and an avalanche of foreclosure activity on Main Street. Growing trouble in the subprime mortgage industry could not come at a worse time for the battered housing sector, which has been in a yearlong tailspin of stagnant sales, rising inventories, plunging prices and growing defaults. Panic is spreading in the U.S. As more lenders go bankrupt and more Americans default on home loans, a jump in foreclosures is expected.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Subprime Market Sinking Further Into the Abyss
  
  The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). Now the problem has dug down to the very roots of the lending industry and is shaking loose some of the largest subprime lenders, who are now falling into the abyss. The Orange County Business Journal reported Monday that Wall Street analysts are now predicting possible liquidation or bankruptcy The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in each of the next two years. Borrowers
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Freddie and Fannie Spurn New York Subprime Loans
  
  Battle lines are being drawn in New York’s real estate market, pitting Freddie Mac and Fannie Mae against subprime lenders in New York. Patterson signed into law a subprime lending reform bill (S.8143-A/A.10817-A), creating stringent lending guidelines for subprime lenders. Under the new law, investors, including loan buyers like Freddie Mac and Fannie Mae, are held liable for mortgage fraud. Last week, New York Governor David A. It also lays out requirements for brokers to act in borrowers’ best interests, and mandates all local mortgage servicers to
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• For Some, Mortgage Meltdown Means Opportunity
  
  Cracks are appearing in the foundation of the housing market as shock waves — triggered by concern over a surge in bad subprime mortgages — jolted the stock market this week, sending the Dow Jones industrial average downward by more than 243 points, amid fears that a mortgage meltdown in the subprime lending sector could have broader economic implications. That's one home mortgage foreclosure filing for every 92 households. Warning signs already had begun to manifest themselves last year as the recent housing boom was starting to reverse. Although the trend
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Credit Card and Mortgage Debt Fuels Foreclosure
  
  Add mounting mortgage payments to the credit card debt and a gloomier picture emerges for overextended borrowers — in part because so many homeowners are now trapped by payments that are about to soar, even as the real estate market slumps. Of course, that could change as interest rates on adjustable-rate mortgages rise next year and beyond. Debt! No word better describes why millions of Americans are now facing foreclosure.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Write an Essay, Pay Off Your Mortgage
  
  At present, approximately two percent of the outstanding mortgage loans in the U.S. And who knows how many more may be on the verge of going over the edge anytime soon as subprime loans adjust up to higher interest rates in the next couple of years. Taking all those people into consideration, it makes for a very large potential pool of distressed homeowners to choose from when judging any kind of a contest offering to pay off someone’s mortgage. are in some stage of foreclosure, according to RealtyTrac . And that is probably what Columbia Pictures is counting on.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Can "Appreciation Sharing" Solve The Mortgage Mess?
  
  Can “Appreciation Sharing” Solve The Mortgage Mess? By Peter G. Miller     We’re about to see something new in the mortgage marketplace: The government is going to insure huge numbers of shared-appreciation mortgages, a type of home financing rarely seen in the U.S. But for those with toxic loans, a high-cost mortgage with sane terms is better than foreclosure, bankruptcy and having your stuff sitting on the curb. Equity Sharing During It’s a big experiment and it raises a bigger question: Is this the loan of the future?
  www.realtytrac.com - Tuesday, February 3, 2009
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• No Mortgage Meltdown For These Banks
  
  No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in recent weeks has not been good, especially in the world of mortgages. One result is that the mortgage meltdown is described in global terms, as if all lenders offered toxic loans during the past few years and the entire financial community is universally in trouble. Famous lenders with once-fabulous finances are turning up in the headlines among the broke and busted. The facts are different.
  www.realtytrac.com - Tuesday, February 3, 2009
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