Sentences with phrase «by subprime lenders»

Thanks to aggressive tactics by subprime lenders who prey disproportionately on minority households unfamiliar with the financing system, one in five households with a subprime mortgage loan now face losing their home.

The higher incidence of subprime loans to African Americans «may be caused by a lack of marketing by prime lenders and over-marketing by subprime lenders to underserved populations,» says John Taylor, NCRC's president and CEO.

The study found that, thanks to aggressive tactics by subprime lenders who prey disproportionately on minority households unfamiliar with the financing system, one in five households with a subprime mortgage loan now face losing their home.

An auto equity loan, which is available from traditional lenders as well as some online lenders, should not be confused with an auto title loan, which is typically offered by subprime lenders to people who have bad credit.

Loan limits are often kept low, to no more than $ 10,000, but larger loans are granted by subprime lenders.

This is where online lenders are valuable, offering a greater chance of securing loan approval, though interest rates charged by subprime lenders can be quite high.

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

Not exact matches

By choosing to only buy homes from Fannie Mae, the lawsuit says, Harbour ended up with homes in areas that experienced the largest amount of foreclosures, which are the same communities targeted by subprime - mortgage lenders — communities of coloBy choosing to only buy homes from Fannie Mae, the lawsuit says, Harbour ended up with homes in areas that experienced the largest amount of foreclosures, which are the same communities targeted by subprime - mortgage lenders — communities of coloby subprime - mortgage lenders — communities of color.

During the boom in subprime mortgages, US lenders thought they could manage their exposure to these risky borrowers by ensuring they would not remain customers for long.

Only three years ago subprime loans were growing at record pace, but recent tightening by lenders has kept a lid on their growth in the last year.

This number is widely used by lenders to distinguish between «good» and «subprime» borrowers.

Subprime consumers are often targeted by predatory lenders looking to capitalize on their weakened financial state.

Lenders that acquire subprime accounts can also try to increase their income by applying pressure on delinquent cardholders to start making payments again.

Unlike subprime lenders, FHA requires that borrowers demonstrate they can pay their mortgage by verifying their income and employment.»

Moreover, Experian reported that in the fourth quarter of 2012, lenders increased auto loans to borrowers identified as deep subprime, with credit scores below 550, by 31 % year over year.

Subprime lenders compete for your business by offering low rates and fees.

Beware of predatory lenders - Some subprime lenders may try and take advantage of high risk borrowers by charging excessive fees and unreasonable interest rates.

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.

By 2005, many lenders dropped the required FICO score to 620, making it much easier to qualify for prime loans and making subprime lending a riskier business.

These in - house lenders are known to take advantage of the desperation of their subprime customers by jacking up interest rates and charging ridiculously high down payments — all on top of potentially charging as much as two - to - three times what the car is actually worth.

Bank risk professionals now believe that lenders will keep allowing subprime borrowers to take on credit card debt and have more access to auto loans over the next six months, according to a survey by the Professional Risk Managers» International Association for the credit scoring company FICO.

Beware of predatory lenders - Some subprime lenders take advantage of high risk borrowers by charging excessive fees and unreasonable interest rates.

But by selling the subprime loans through the secondary mortgage market, the lenders were able to «offload» the risk associated with those loans.

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

This bar is set a bit higher than the traditional «subprime» category used by mortgage lenders.

«Subprime» loans, considered to be significant contributor to the foreclosure crisis, are now referred to as «nonprime» or «alternative» loans by some lenders to remove the stigma.

Although FHA was caught unawares by a tremendous increase in its market share when subprime lending went south, it has made important strides in monitoring mortgage lenders and enforcing FHA guidelines for underwriting mortgage loans.

However, lenders make bigger profits on subprime loans, interest rates are higher on subprime loans, subprime loans with high rates have been commanding higher prices in the secondary market and borrowers are dependent on loan officers to help them make financing choices — loan officers who get bigger commissions by marketing subprime loans.

Some lenders may be willing to go below that common 620 cutoff, which is considered by some to be the dividing line between «Fair and subprime credit.

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.

Unfortunately, during the same time that subprime borrowers became more involved in the American housing market, more variable - rate mortgages were issued by lenders.

While there are emerging subprime lenders that will allow bank statements as an alternative form of verifying income, the premium loans are still owned by Fannie Mae & Freddie Mac or insured by the FHA, VA or USDA.

The FHA backs the subprime mortgage that is offered to you by the lender.

This website is not responsible for the accuracy of information or responsible for the accuracy of the subprime mortgage rates, APR or lending guidelines posted by advertising banks, lenders and brokers.

The granting of undocumented mortgages to subprime borrowers was a major contributor to the Great Recession, so it's understandable that lenders reacted violently by cutting off credit to all but the most creditworthy customers.

At the same time, subprime mortgage lenders — fuelled by a lack of regulation — happily gave out mortgages to virtually anyone who asked.

But during the early and mid-2000s, high - risk, or «subprime,» mortgages were offered by lenders who repackaged these loans into securities.

Insurance of the loan by the FHA reduces the risk faced by the lender when making a loan to a subprime borrower, thus making them more likely to do so.

«Lenders have taken a cautious approach to re-entering subprime card lending by keeping credit lines lower,» said TransUnion's Siegfried in a statement.

Oh — one more thing, gbaikie — look up deceptive marketing practices used by lenders to sell subprime loans (you can start that search with the keywords «predatory lending.»)

In the financial sector, Evansville, Indiana — based Springleaf Finance, the subprime lender owned by Fortress Investment Group, has hired Dewey & LeBoeuf and Skadden, Arps, Slate, Meagher & Flom as it seeks to restructure its operations, Reuters reports.

A voluntary mortgage aid plan announced by President George W. Bush last December called upon lenders to freeze the mortgage rates of some subprime borrowers for five years.

Washington, D.C. — Minority households buying a home must rely on subprime lenders to a far greater degree than whites, according to a study by the National Community Reinvestment Coalition in Washington, D.C..

Thanks to programs such as those proposed by Fannie Mae and Freddie Mac to assist subprime borrowers, many lenders are more willing to offer loan modification options.

Recent moves by a few lenders to revive subprime mortgages have garnered headlines lately, but the bigger picture remains essentially unchanged: It is... >>

«We believe that the more prudent mortgage underwriting in Canada than in the United States, headlined by the very small number of subprime loans here, has prevented the stockpiling of high - risk mortgages by lenders,» states the report.

And looking at what they said during the boom, lenders will always justify their affordable / subprime mortgages by saying they're just trying to help;

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.