Sentences with phrase «many subprime»

Having briefly learned a very hard lesson about the perils of over-zealous lending, big banks are once again spinning out subprime mortgages at a furious pace.

His books can alter the way the public thinks about and conceives of entire worlds, from baseball management to football pass protection to the subprime mortgage crisis.

In the past decade, Goldstein's three businesses, which include the subprime lender Enova, which he started a year after graduating college in 2004; real estate site and Inc. 5000 company Pangea Properties, and 2015 30 Under 30 listee lender Avant, have added 2,200 new jobs to the economy.

Case in point: In mid-September, three weeks before Morneau tabled his rules, credit reporting agency TransUnion estimated that hundreds of thousands of Canadians carrying variable rate subprime mortgages could be significantly impacted by interest rate increases of even 25 basis points.

With one of its largest lenders in trouble, the subprime mortgage industry needs the housing boom to keep going

Subprime mortgages were home loans made to borrowers with weak credit and high debt.

The short seller made famous for his controversial and astute negative call on the U.S. subprime market is calling for a «pretty severe correction» in the Canadian housing market.

One of his past shorts is NovaStar Financial, a U.S. subprime lender that fell apart amid the 2008 financial crisis, embroiled in lawsuits.

Such an outcome could prove to be a classic unintended consequence: Morneau's reforms — meant to reduce or contain the accumulated risk created by precipitously over-leveraged homebuyers — may unwittingly increase the overall systemic risk in the economy by driving red - lined borrowers to the sort of uninsured subprime mortgages that have proliferated in the shadow banking sector.

Home Capital, a subprime lender, is too small to cause much trouble on its own.

Abramowicz foresees another sort of ripple effect in the event of a market correction: As homeowners with those short - term private subprime mortgages struggle to figure out how to refinance in a much more constrained market, they may opt to default and cut back on consumer spending.

Goldman may be hoping that this new venture will soften its image and make it more popular with average Americans, but it's hard to forget its role in the subprime mortgage crisis that destroyed billions of dollars of value on Main Street, not to mention people's livelihoods.

It took just weeks for companies far removed from the subprime madness to panic and purge.

Just like subprime mortgage lending dragged so many American homeowners underwater during the housing crisis, some private lenders aggressively marketed their loans to students who weren't financially fit to support them.

«Subprime - style lending went to college and now students are paying the price,» U.S. Education Secretary Arne Duncan said in a statement Friday.

Adding insult to injury, shares of GE briefly fell below $ 14 each on Monday after news late Friday that the Justice Department could take action in connection with alleged subprime mortgage violations.

John Burbank, the manager who shot to prominence with a winning bet on subprime housing a decade ago, is rethinking how to manage money

A slow uptick in rates, driven by Federal Reserve policy, could pull the punch bowl a bit farther away, and it would trim the lower reaches of the lending spectrum, helpfully constraining subprime loans.

The Oracle of Omaha first got involved with the Charlotte - based banking giant back in 2011, when investors began questioning whether Bank of America could deal with legal fees and liabilities stemming from the subprime mortgage crisis.

It followed a report last month by the Seattle Times newspaper and online BuzzFeed News accusing the largest U.S. mobile home builder of exploiting black, Latino and Native American borrowers by driving them into subprime loans they can not afford, and harming communities by repossessing homes after borrowers default.

An alternative (read subprime) mortgage lender based in Toronto, Home Capital targets the self - employed, new immigrants and borrowers with minor blemishes on their credit histories who find themselves unwelcome at most banks.

Scott, like most everyone in the U.S., is eager to put the subprime crisis behind him.

From the low - level shysters who peddled dodgy mortgages to the Wall Street investors who packaged them into securities and the investors who bought them, everyone involved in the subprime debacle always seems somewhat put - off when reminded that at root this was a crisis about actual people and their actual homes.

Through his former firm Scion, founded in 2000, Burry bought securities that would increase in value as subprime mortgage loans plummetted.

The Experian research also noted that more subprime borrowers are borrowing for new auto purchases.

Subprime borrowers have offered the yield sign to investors in recent years.

The states of Illinois and Washington sued Navient in separate complaints on Wednesday, which also named Sallie Mae, for servicing problems and for subprime loans allegedly designed to make borrowers fail.

GE said on Friday that it was facing potential legal action by the U.S. Department of Justice in connection with subprime mortgages.

Unlike mortgage - backed securities, solar bundles do not include subprime loans.

Goldman Sachs is the fifth bank to reach a multibillion - dollar settlement with the Department of Justice in relation to subprime mortgages during the Great Recession.

Back in 2010 it paid $ 550 million to settle charges brought by the Securities and Exchange Commission that it mislead investors into buying a so - called synthetic collateralized debt obligation named Abacus, which was made up of a bundle of financial instruments tied to subprime mortgage bonds, many of which plummeted in value shortly after the deal was sold.

Back in 2010, the bank paid $ 550 million to the Securities and Exchange Commission to settle charges that it had misled investors into buying financial instruments tied to subprime mortgage bonds.

Abacus Federal Savings Bank is the only institution to face criminal charges for its role in the subprime mortgage fiasco.

Big Wall Street banks have found a way to continue funneling money to high - risk borrowers — by lending to other institutions who make the so - called subprime loans.

To take that comparison a step further, is there really any difference between the way VW packaged and marketed its pollution - spewing cars to regulators and customers as «clean,» and the way financial dark wizards took lowly subprime mortgages and prettied them up for sale as Triple - A high quality securities to gullible investors?

Bass is the founder and managing partner of Hayman Capital Management, where he gained a reputation for betting against subprime mortgages during the financial crisis.

In 2007, Cramer went on a fiery rant, blasting then - Fed Chair Ben Bernanke and central bankers for their lack of knowledge about the risk that the subprime mortgage market posed to the financial system.

Remember subprime loans, the thing that brought the global financial system to the brink of collapse a decade ago?

Asked to make a case for the work of short sellers like himself, Muddy Waters» Block said in an e-mail to Canadian Business: «We think the real estate crisis [in the U.S.] could have been less severe had short - sellers felt comfortable enough to speak publicly about the problems they found with subprime lenders.

I just know it's going to end badly and a year and a half later we figure out it was housing and subprime.

Santander has been criticized for its subprime auto loan business.

As I mentioned last quarter, we are seeing some deterioration in the credit quality of applicants, but the majority of the increase is the result of our subprime partners providing more attractive offers to our customers.»

In related news, Goldman Sachs» hot new business is lending to subprime consumers, and Wall Street's starting to ask questions.

The SEC has dropped its investigation into the bank's disclosures related to the sale of subprime mortgages.

However, this year originations by our subprime lenders ramped in Q4 and remained relatively strong through Q1.

A little more than a decade ago the economy collapsed, and at the center of that collapse was the subprime mortgage.

Earlier this week, the subprime lender saw its stock slump more than 75 percent after a profit warning.

A nonprime / subprime mortgage is just a tool.

However she dismisses the comparison with the U.S. subprime crisis, in which people who could not really afford one home ended up buying two or three; the HOME program will be limited to principal residences for first - time buyers only — and ones who have already met mortgage requirements.

Subprime mortgages nearly buried the online broker; here's how it reinvented and repaired itself.