5 Articles match "New York","Sales","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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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 latest victim of its own success is New Century Financial Inc. 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 began feeling the effects of those resets during the second
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
  • 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 latest victim of its own success is New Century Financial Inc. 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 began feeling the effects of those resets during the second
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Foreclosure "Megatrends"
    Sales are down. For investors and homebuyers, these and other rapidly developing “megatrends” could signal opportunities. Vultures Circling Wall Street wizards profited handsomely from the subprime market they helped create; Wall Street gurus will profit from cleaning up the mess they spawned. In a presidential year, Uncle Sam and politicians nationwide are rushing to unveil new and bolder schemes to unravel the foreclosure crisis. Foreclosures are rising. Home prices are falling.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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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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  • 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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