Tag Archives: subprime mortgage market

About 25% Of FHA Loans From Past 2yrs In Trouble

Here’s some scary testimony to Congress, that 20 percent of F.H.A. loans insured last year — and as many as 24 percent of those from 2007 — faced serious problems, including foreclosure, offering a preview of a forthcoming audit of … Continue reading

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Canada Is Safe From An American-Style Mortgage Collapse

From NationalPost: I know very little about the world financial markets, or even about basic financial concepts. — Less crappy mortgages. Canada’s subprime mortgage market (to the extent the bottom end of our mortgage market can even be called “subprime” … Continue reading

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Government Needs To Stabilize Housing

An academic at Columbia’s Business School writes for the NYT: AT the heart of the financial crisis is an unprecedented decline in house prices. The government needs to directly stabilize the housing market. The first step should be to reduce … Continue reading

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Few Options Beyond The FHA

From the AP: To slow its financial decline, the mortgage finance giant slashed its dividend to 5 cents a share from 35 cents a share and said it will eliminate loans for borrowers with solid credit scores, but little proof … Continue reading

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Former Bear Stearns Managers Charged

NEW YORK — Two former Bear Stearns hedge fund managers were hauled into jail Thursday and charged with lying to investors about the collapse of the subprime mortgage market, perhaps signaling the start of a wave of prosecutions arising from … Continue reading

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Arrests Related To Subprime Collapse

NEW YORK – Two former Bear Stearns managers have been arrested, federal authorities said today, becoming the first executives to face criminal charges related to the collapse of the subprime mortgage market. Authorities in Brooklyn are expected to release details … Continue reading

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FBI Arrests 300 For Mortgage Fraud

It would be nice to have villains to blame for the subprime meltdown. Surely there are some bad guys we can point our fingers at? It’s not us, it’s them! WASHINGTON (AP) — The FBI says it has arrested about … Continue reading

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Understanding The Subprime Mess

From the New York Times April 2, 2008: Confused about the turmoil roiling mortgages and the housing market? A group of experts discussed the subprime mortgage meltdown on Tuesday evening at the Museum of the City of New York. Constance … Continue reading

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Subprime Mortgages

The American home ownership rate jumped from 45% to 65% in the decade after WWII. Mortgage credit possibilities were opened up to the middle class. Poor people were rarely able to participate in this boom. In 1994, America’s home ownership … Continue reading

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Mortgage Recovery To Be Slow

WASHINGTON (Reuters) – The U.S. mortgage market will recover slowly from a wave of bad loans that threw broader financial markets into crisis and the lending system will need repairs, Federal Reserve Governor Randall Kroszner said on Thursday. "Recovery in … Continue reading

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