Tag Archives: loan applications

Lenders Cool To Barney Frank’s Plan

Barney Frank’s plan asks lender to reduce the principal owed on bad loans. If they do, the FHA will pay off the loan and give the borrower a new FHA mortgage with smaller monthly payments. Economy.com from Moodys estimates that … Continue reading

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What’s The Background On Subprime Lending?

According to Wikipedia: America has the most open credit market in the world because of innovations such as junk bonds and subprime mortgages. With the easing of usury laws, there evolved a big market for lending to risky types. In … Continue reading

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Justice Department Investigates Mortgage Industry

Reuters says the Justice Department may create a special task force to look into cheating in the mortgage lending industry. The FBI is investigating 17 firms that may have engaged in massive fraud. In an interview with reporters that covered … Continue reading

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