Sentences with phrase «as subprime mortgage lenders»

These companies became known as subprime mortgage lenders.

Not exact matches

Because the original lenders no longer had, as Green says, any «skin in the game,» countless subprime mortgages were issued without adequate screening.

Nearly 90 mortgage lenders have formed an alliance to support passage of legislation to «reinvigorate» the Federal Housing Administration so it can provide safe and affordable financing for homebuyers, as well as a lifeline for subprime borrowers who are in trouble.

As an alternative to foreclosure, eligible borrowers can refinance with FHA and lenders can voluntarily write down the outstanding subprime mortgage principal balances.

As a direct subprime lender, we're built a reputation as a reliable and trustworthy mortgage investoAs a direct subprime lender, we're built a reputation as a reliable and trustworthy mortgage investoas a reliable and trustworthy mortgage investor.

A contrarian view is that Fannie Mae and Freddie Mac led the way to relaxed underwriting standards, starting in 1995, by advocating the use of easy - to - qualify automated underwriting and appraisal systems, by designing the no - down - payment products issued by lenders, by the promotion of thousands of small mortgage brokers, and by their close relationship to subprime loan aggregators such as Countrywide.

As an Alt - A lender, IndyMac's business model was to offer loan products to fit the borrower's needs, using an extensive array of risky option - adjustable - rate - mortgages (option ARMs), subprime loans, 80/20 loans, and other nontraditional products.

As a result, mortgage rates provided by subprime mortgage lenders will be much higher than those at standard lenders, all else being equal.

In fact, after the subprime mortgage crisis of 2007 - 08, they became known as «liar loans,» because borrowers and lenders were able to exaggerate income and / or assets to qualify the borrower for a bigger mortgage.

Depending on factors such as your credit score, employment history and debt - to - income ratio, the calculator may have come up with — and a lender may offer you — a prime rate mortgage, a subprime mortgage or something in between, called an «Alt - A» mortgage.

Because Alt - As are viewed as somewhat risky (falling somewhere between prime and subprime), interest rates tend to be higher than those of prime mortgages but lower than subprime — somewhere around 5.5 % to 8 %, depending on the lender and the borrower's situatioAs are viewed as somewhat risky (falling somewhere between prime and subprime), interest rates tend to be higher than those of prime mortgages but lower than subprime — somewhere around 5.5 % to 8 %, depending on the lender and the borrower's situatioas somewhat risky (falling somewhere between prime and subprime), interest rates tend to be higher than those of prime mortgages but lower than subprime — somewhere around 5.5 % to 8 %, depending on the lender and the borrower's situation.

Broadly speaking, homeowners that wish to obtain a mortgage from their lender can be categorized as prime or subprime borrowers.

With the recent problems suffered by subprime mortgage lenders, FHA loans are making a strong comeback as a useful alternative for first - time home buyers and home buyers with less than perfect credit.

As discussed above, lenders» increased appetite for risk can be seen through the influx of subprime borrowers granted mortgages.

In 2004, as regulators warned that subprime lenders were saddling borrowers with mortgages they could not afford, the U.S. Department of Housing and Urban Development helped fuel more of that risky lending.

Many claims involved property and conveyancing disputes and include subprime mortgage lenders as the claimants.

Driven by Wall Street's demand for subprime loans to securitize and sell to investors, lenders sold high - risk products such as exploding adjustable - rate mortgages — loans with interest rates that could triple after two years — and liar loans, also known as stated income loans, which required little or no documentation about income, assets, or credit history.