Product Description
The Impact of the Subprime Mortgage Crisis is an authoritative, insider’s perspective on key strategies for representing and advising financially distressed clients affected by the recent crisis. Featuring partners from some of the nation’s leading law firms, these experts guide the reader through the evolution of prior market bubbles and recoveries, and offer insight as to how this crisis compares to previous economic downturns. These top lawyers reveal their thoug… More >>
Product Description
This is an overview of the subprime mortgage securitization process and seven key informational frictions that arise. The authors discuss the ways that market participants work to minimize these frictions and speculate on how this process broke down. They offer a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. They present the key structural features of a typical subprime securitization, doc… More >>
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Mortgage credit derivatives are a risky business, especially of late. Written by an expert author team of UBS practitioners-Laurie Goodman, Shumin Li, Douglas Lucas, and Thomas Zimmerman-along with Frank Fabozzi of Yale University, Subprime Mortgage Credit Derivatives covers state-of-the-art instruments and strategies for managing a portfolio of mortgage credits in today’s volatile climate.
Divided into four parts, this book addresses a variety of imp… More >>
Subprime lenders who fueled the U.S. housing crisis may be reaping benefits from the Obama administration’s Home Loan Modification program, according to a report from the Center for Public Integrity (CPI).
The $75-billion program, dubbed Making Home Affordable, grants taxpayer subsidies to lenders who successfully lower monthly payments for troubled borrowers. However, the study shows, 21 of the top 25 participating lenders were involved in subprime loans, which led to the housing collapse in the first place.
CPI executive director Bill Buzenberg says that much of the money is simply going back to the same companies that started the problem. According to the report, three of the biggest lenders – Countrywide, Wells Fargo, and JPMorgan Chase – are eligible for several billion dollars in aid under the program.
The government has recently urged lenders to crank up their home loan modification assistance programs as the Making Home Affordable plan went off to a slow start. As of last month, less than 10% of eligible borrowers have been aided by the program, according to estimates by the Treasury Department.
The CPI report went on to show that mortgage lenders and servicers have been slow in following the government’s efforts to stem foreclosures, despite “intense pressure” from the White House and the Congress. This is why, the report said, the government has resorted to incentive payments to get them to participate.
Major lenders have slammed the report, saying it undermines their real efforts to help homeowners. Scott Talbott of the Financial Services Roundtable, a group consisting of the largest U.S. lenders, says that it oversimplified the roots of the housing crisis and ignored the complexities of the real estate market.
Talbott added that lenders are doing what they can to help troubled homeowners through the Making Home Affordable program, as well as other foreclosure prevention initiatives.
To choose the best home loan modification program consult an authorized home loan modification consultant. For more news and articles on home loan modification program visit the best online Loan modification Information Resource: CDLoanMod.com
The Author is a Loan Modification Assistance specialist who writes on various home loan modification related topics to help people understand & choose the best Loan Modification option. For more helpful articles visit the author?s blog at http://loan-modification assistance.blogspot.com
Product Description
Over the past decade, a new mortgage market offering loans at low interest rates and for little or no money down has given low-income people an opportunity to pursue the American dream of homeownership. The resulting wave in home buying promised to stabilize neighborhoods and families, boost the economy, and reduce crime. In many ways, the optimists were correct, but now, less than fifteen years later, the subprime mortgage market is collapsing, threatening to take … More >>
In the actual Subprime mortgage crisis in the US huge amounts of mortgage frauds were discovered. What’s the part that these frauds played in the actual mortgage crisis ? Thanks.
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