subprime: When Buffett speaks people listen - 01/27/09 03:47 PM
Warren Buffett rarely needs an introduction. By most standards he can be considered as popular as today's movie stars, music performers and sports heroes. As a savvy guru of the business world he has made a tidy sum of money as one of the most revered investors of the last several … (2 comments)
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subprime: New mortgage fiasco in the making? - 12/05/08 05:10 PM
The financial system has taken it to the chin repeatedly over the last few years thanks to multiple factors, one of which was the subprime home loan product. Many eager borrowers were able to secure funding for a home purchase using its flexible underwriting criteria although many really didn't have the … (12 comments)
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subprime: IndyMac mortgage loan modification plan could become national standard - 10/23/08 10:30 PM
IndyMac is one of the many hard-luck banks that was deeply involved in subprime mortgages and because of that it was about to go bust a few months ago when FDIC, the Federal Deposit Insurance Corp., swooped in and took control of it. In the following weeks FDIC did more, though, … (13 comments)
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subprime: Is the financial bailout plan addressing the wrong issue? - 10/16/08 10:24 PM
The extensive financial, or housing and mortgage, rescue program in its present form is clearly designed to first lift Wall Street off the mat. Details are still being worked out in Washington on it but that's where its main focus is. Some say that this direction is ill-advised, though. Among the … (8 comments)
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subprime: Mortgage lender settles lawsuit that will help out many struggling homeowners - 10/07/08 05:30 PM
The media is still abuzz about the massive, controversial and headline-grabbing Wall Street bailout plan put in the books just last week and now there is another important financial development that is trying to elbow itself some room on the headlines. Bank of America just settled a lawsuit with 11 states … (2 comments)
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subprime: Las Vegas set to benefit from HUD foreclosure program - 09/27/08 10:00 PM
The Department of Housing and Urban Development, or HUD, has received a grant package that totals almost $4 billion to aid cities and states embroiled in mortgage foreclosures. These funds actually were put aside for this purpose in the recently passed Housing and Economic Recovery Act.
The effort has a fitting … (8 comments)
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subprime: Mortgage industry undermined by rating agencies? - 09/23/08 05:21 PM
They are a little known piece of the puzzle in the huge U.S. mortgage lending arena but credit agencies definitely play a crucial role in it. The big players in the field are Moody's, S & P and Fitch. Historically they were rating corporate bonds so that investors would know where … (8 comments)
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subprime: FHA boosting mortgage insurance premiums - 08/28/08 06:53 PM
FHA has made a remarkable comeback in the last several months. Many of the creative home loan products that fueled the recent boom, especially those under the banners subprime and Alt-A, are rapidly being swept into the dustbin. FHA has stepped into the vacuum, offering low down payment options to borrowers … (8 comments)
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subprime: Fannie Mae makes news with Alt-A adjustments - 08/09/08 08:38 PM
Fannie Mae, the giant player in the secondary mortgage market where it buys loans and either keeps them in its own books or packages them for resale, just announced a hefty second quarter loss of $2.3 billion. A loss was expected but this was much more than what experts had anticipated. … (18 comments)
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subprime: New mortgage lending rules from the Fed - 07/15/08 11:08 PM
The revered Fed is taking steps to streamline how lenders go about making higher-priced home loans, higher-priced by the way is another way to say subprime, to borrowers. These guidelines are intended for the entire spectrum of mortgage lenders and not just for those under the Fed's regulatory umbrella. As of … (10 comments)
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subprime: Are mortgage borrowers well informed? - 07/05/08 09:22 PM
At first look, the foreclosure epidemic that is currently roiling the home loan industry is clearly pointing in the direction that a good portion of buyers are relatively unconcerned about the mortgage program they signed for and that's why they are now in distress. The number of foreclosures, however, is only … (14 comments)
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subprime: Is that elusive real estate market turnaround near? - 06/15/08 04:38 PM
The mortgage and housing markets have been severely punished in the last couple of years, there's no denying it. The home loan industry, of course, covers the entire nation while the real estate field's troubles have been rather uneven. Some areas, like Las Vegas, lots of Florida and California, have suffered … (6 comments)
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subprime: Mortgage market risk management basics - 05/20/08 10:14 PM
The subprime home loan debacle sure has exposed the huge and complicated marketplace to careful scrutiny as to how it handles risk management. Sterling banking firms and mammoth investment organizations have lately lost untold amounts of money on U. S. mortgage-backed securities. When some of the better finance minds the world … (8 comments)
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subprime: Mortgage industry faces more reforms - 03/16/08 06:15 PM
A high-powered economic panel has been meeting under the direction of the U.S. Treasury Secretary to seek solutions to the current mess in the mortgage and overall credit markets. The task is difficult, of course, because of the complexity the financial segment has grown into over the last several years. But something … (8 comments)
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subprime: The return of the ARM - 03/08/08 01:09 AM
The Adjustable Rate Mortgage, or ARM, lost much of its edge over the 30-year fixed in the last few years. Things actually got so tangled up for a couple of weeks in 2007 that the 5-year ARM, or 5/1 ARM, the most sought-after of them, demanded a higher interest rate than … (2 comments)
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subprime: Mortgage insurance firm scaling back - 02/26/08 12:47 PM
Where does it all end? The snowball effect continues to throw cold water on the entire home loan industry. Things started off with the subprime bombshell, which was soon followed by the rapidly rising foreclosure rate, then large investors purchasing bundled mortgage products on the secondary market got sucked in and … (6 comments)
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subprime: Mortgage industry tested by foreclosures in 2007 - 02/05/08 01:32 PM
Mortgage foreclosure filings on a national scale kept a steady pace throughout 2007, reports RealtyTrac, a California-based real estate marketplace and an expert in foreclosure data. Despite government and lender efforts to come to the rescue of homeowners in distress, the figures toward the end of the year showed no improvement … (2 comments)
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subprime: Las Vegas housing crawls along - 12/23/07 09:41 PM
The November residential real estate indicators for Southern Nevada were recently published by Home Builders Research and SalesTraq, two local industry research shops. In general the numbers are down, an altogether familiar pattern for the past several months.
In the new home category sales are off by 47.5% from last year and … (2 comments)
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subprime: Subprime mortgage rate freeze on thin ice - 12/05/07 10:05 PM
When the Treasury Secretary announced in a recent speech that the Hope Now coalition is working on an ambitious plan to freeze interest rates on qualified mortgages, the mood among homeowners who could be positively affected surely was upbeat. Hope Now is an alliance of community, government and industry groups in … (10 comments)
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subprime: Jumbo mortgages still in short supply - 11/04/07 02:01 PM
While the subprime sector has been everyone's punching bag for quite some time now, another sector has toiled with its own struggles largely unnoticed from the public eye. The jumbo loan market plays an important role in the wide mix of mortgage products, especially in the perennially high-cost areas like California. … (6 comments)
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