Category Archives: Risky Lending

The Asbury Park Press (APP) is running a three-part series looking into the refi boom. The first part of the series can be found here: Home Roulette: Gambling with your house BY JASON METHOD Some interesting findings: New Jersey homeowners, … Continue reading →

From the Asbury Park Press: Investors swoop in when owners default BY JASON METHOD (Snipped, will be updated in a few)

From the Washington Post: Help for Homeowners, Not a Bailout for Mortgage Pushers By Steven Pearlstein It was predictable that once the outlines of the coming mortgage crisis came into view, housing activists would propose some sort of federal bailout. … Continue reading →

From the New York Post: HOLD ON TIGHT – THE JUNK-LOAN FALLOUT’S JUST BEGINNING CONFUSED about what the subprime mortgage meltdown means for the economy and your money? Well first, let’s call a spade a spade. These risky mortgages aren’t … Continue reading →

From the NY Times: A Surge in Foreclosure Filings AFTER 20 years as a lawyer, David Volman has handled enough divorces to know that many marriages collapse under financial strain. So when his practice, in Shelton, began receiving an unusually … Continue reading →

From Inman News: If foreclosures are the earthquake, watch out for the credit crunch tsunami The impacts of the current rise in mortgage delinquencies and foreclosures will be plain to see. Hundreds of thousands of families — even millions — … Continue reading →

From the NJ Department of Banking and Insurance: DOBI issues cease and desist order against mortgage lender The New Jersey Department of Banking and Insurance issued legal documents Tuesday ordering New Century Mortgage Corp. to stop doing business in the … Continue reading →

From the Associated Press: Congress eyes tougher standards for subprime market Congress is eyeing tougher standards for risky, higher-interest home loans made to people with blemished credit records as defaults surge and lenders to the so-called subprime market see their … Continue reading →

From the NY Post: BEAR MINIMUM Bear Stearns is being blasted by a leading independent research shop that says the Wall Street titan’s robust purchase of subprime mortgages has helped fuel the sector’s meltdown. Describing the firm’s buying activity as … Continue reading →

From the Wall Street Journal: At a Mortgage Lender, Rapid Rise, Faster Fall Ruthie Hillery was struggling to make the $952 monthly mortgage payment for her three-bedroom home in Pittsburg, Calif., last summer when a mortgage broker called. The broker … Continue reading →

From Bloomberg: Foreclosures May Hit 1.5 Million as U.S. Housing Bust Deepens Hold on to your assets. The deepest housing decline in 16 years is about to get worse. As many as 1.5 million more Americans may lose their homes, … Continue reading →

From Bloomberg: Fed Warned on Foreclosures as Mortgage Growth Cools Federal Reserve Chairman Ben S. Bernanke and other policy markers were warned that rising mortgage foreclosures are likely to get worse, as the central bank reported the slowest pace of … Continue reading →