Since late 2006

276

major U.S. lending operations have "imploded"

» Carteret Mortgage Corporation
» Accredited Home Lenders, Lone Star Funds - Wholesale
» Western Residential Mortgage
» Liberty Home Lending - Wholesale
» Equipoint Financial Network, Inc.

For the rest » Go to the list!

Implode-O-Meter:

Stated Income (Liar Loans) Still Available for Some

7/28/2010 7:00 PM

"Not so long ago, during the height of the housing boom, roughly 40% of all new mortgages originated were stated income or low doc loans. Then came the financial crisis and the housing crash in 2007 during which time 39% of the sub prime mortgages, which included stated income and low doc loans, defaulted. With thousands and thousands of loans defa...Read More

Citi to pay $73 million for misleading investors

7/28/2010 7:00 PM

"Citigroup said Thursday it would pay $73 million to settle charges by the Securities and Exchange Commission that the bank, as well as two of its executives, misled investors about the company's exposure to the subprime mortgage market....Read More

Reverse Mortgages: MSNBC "Consumer Man" Gets It Wrong Says Industry Leader

7/28/2010 7:00 PM

"I just read an article on reverse mortgages and how they can lead to big trouble. After I read the entire article, I became enraged. Not just angry, but really, really mad due to the fact that the man who calls himself the "ConsumerMan" obviously has no real understanding of the product and is reporting several items as "fact" that are completely ...Read More

Freddie Mac to auction off foreclosed Phoenix houses

7/28/2010 7:00 PM

"Prospective buyers trying to purchase Phoenix foreclosed homes to live in will have first dibs on 135 houses that mortgage giant Freddie Mac is auctioning off next month. Read more: http://www.azcentral.com/business/realestate/articles/2010/07/27/20100727biz-catherine0728.html#ixzz0v5tNAvP1...Read More

Karl Case on US Housing Market

7/28/2010 7:00 PM

"Case says US housing market is dead in the water...Read More

How HVCC Changed The Game For Appraisal Management Companies

7/28/2010 7:00 PM

"Appraisal management companies (AMCs) have been around for a long time, but they became more prominent when the Home Valuation Code of Conduct (HVCC) rules were adopted by the government-sponsored enterprises. These rules were intended to provide a bumper between loan origination people – mainly, commissioned loan officers - and appraisers in orde...Read More

Jumbo Mortgage Rates at Record Lows, Jumbo Market Thawing

7/28/2010 7:00 PM

"Finally, things for the mortgage industry are starting to change. As historically low mortgage interest rates have been recently seen in the low to middle priced housing market, the jumbo mortgage is also making a come back....Read More

Aaron Krowne on PRN "News Dissector" Radio - 7/22/2010

7/28/2010 7:00 PM

Aaron Krowne and Danny Schecter discuss the bank earnings sham, the good and bad of the financial reform bill, and the economy...Read More

How to stop a house foreclosure in Ohio

7/28/2010 7:00 PM

"If you are behind on your mortgage or struggling to afford your monthly payments, don’t wait—help is free! Call the Save the Dream Ohio hotline at 888.404.4674 today!...Read More

Morgan Stanley Settles With Washington D.C. Attorney General; Agrees to Pay $600,000

7/28/2010 7:00 PM

" Attorney General Peter Nickles announced today that his office has entered into an agreement with Morgan Stanley & Company, a New York investment banking firm, that resolves an investigation into Morgan Stanley’s mortgage warehouse financing practices relating to subprime home loans in the District from 2004 to 2007....Read More