Category Archives: Subprime

Obama’s Pioneering Role In The Subprime Bubble

When he was a community activist and a lawyer in 1995, Barack Obama led a discrimination lawsuit against Citibank that secured subprime mortgages for 186 African-Americans in Chicago. The Daily Caller reports that as few as 19 of these 186 … Continue reading

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The Return Of Subprime Blogger Casey Serin

Click here for the full story. He’s got a new website and a new scheme and a new crowd of haters.

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Big Differences Between Our Recession & The Great Depression

Here’s a guest blog on the NYT’s Freakanomics blog: We had a huge real estate boom between 2000 and 2006. We’re now paying the bill for cheap money and lack of regulation for new financial vehicles. There were so many … Continue reading

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Are You Still Stuck In A Subprime Loan?

There have been bills passed and government rhetoric about helping out those stuck with subprime loans. But actual help has been slow to arrive. And if your home is worth less than what you owe on your mortgage, nothing will … Continue reading

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‘Confessions of a Subprime Lender’

I’m reading Richard Bitner’s book, “Confessions of a Subprime Lender: An Insider’s Tale of Greed, Fraud, and Ignorance.” The author started his own subprime lending company, Kellner Mortgage Investments, in 2000 and at its peak, it did about $250 million … Continue reading

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Subprime Factor

I’m reading the novel “Subprime Factor” by CPA Jeffrey D. Schlaman, who’s from Auburn, CA, where I lived (most of the time) from 1980-1993. I graduated from Placer High School in Auburn in 1984. A CPA targeted for assassination explains … Continue reading

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Who Was Responsible For The Subprime Meltdown?

This Orange County Register article — like many from this paper — gets behind the headlines and beneath the rhetoric of ideologues to examine the facts: Did a 31-year-old law giving poor people a break at the bank accidentally break … Continue reading

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When Subprime Lending Exploded

Report: Fannie, the Federal National Mortgage Association, and Freddie, the Federal Home Loan Mortgage Corp., don’t lend money, to minorities or anyone else, however. They purchase loans from the private lenders who actually underwrite the loans. Between 2004 and 2006, … Continue reading

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What is the Money Market and Why Does It Freeze?

Source: This whole downward spiral seemed to start with U.S. subprime mortgages. What exactly are they?Subprime mortgages are home loans made to people who would not, under normal circumstances, be ideal candidates to get a mortgage – thus they are … Continue reading

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Are Minorities Responsible For The Subprime Crisis?

Source: By golly, it’s those low-income minorities! Those values have plummeted because borrowers are defaulting on their mortgages at much higher rates — a trend that will likely worsen as the real estate bubble deflates. At the center of the … Continue reading

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