mortgage

“Breaking news from WashPost: Federal regulators seized three banks tonight, including Downey Savings and Loan Association, a large California mortgage lender, expanding what is by far the most expensive crop of bank failures in modern American history and indicating that source...

“ The meeting comes after shares in Citi tumbled 26pc yesterday as Wall Street fretted about the financial health of the banking giant. Citi, built by former chief executive by Sandy Weill into a conglomerate whose operations span asset management, source...

“The Bush legacy: a nation buried under mortgage and credit card debt and a blown-out economy, with looming mass unemployment AND  hyper-inflation. What Obama and the new team face and what they must do. PLUS a Sixties “Terrorist” Looks Back source...

Will this be what loan modifications wraught?

“Nearly 1.6 million borrowers are in jeopardy of losing their homes this year, according to economist Mark Zandi of Moody's Economy.com, and thousands of new foreclosure-rescue companies are rushing in to offer the troubled homeowners loan work-out assistance. For a source...

“Sooner than you think, the iPod as we know it will seem as nutty as a no-down-payment balloon mortgage. For generations, consumers have wanted to own their music -- vinyl, cassettes, CDs and 99-cent downloads. But today, the economy seems source...

“Elected officials have been chipping away at that by blaming the foreclosure crisis largely on predatory lenders. In a campaign fact sheet, President-elect Barack Obama says he "recognizes that the real victims in the subprime mortgage crisis are not the source...

“The ethical subprime-lending industry helps people buy houses they can affordIn recent months, conservative economists and editorialists have tried to pin the blame for the international financial mess on subprime lending and subprime borrowers. If bureaucrats and social activists hadn't source...

“ As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers—many of them the very sorts of firms that helped create the current financial crisis—are going strong. Their new strategy: taking advantage of a long-standing federal source...

“A trip through Southern California and the effects of insane recklessness by both banks and ordinary Americans:”

“Over the last two decades, bank credit has evolved from the traditional relationship banking model to an originate-to-distribute model where banks can originate loans, earn their fee, and then sell them off to investors who desire such exposures. We show source...

“Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders. Some were misrepresenting the terms of loans, making loans without regard to source...

here is how the mortgage crisis developed from an insider's perspective.