Many lenders have pulled back
from subprime financing.
Not exact matches
That fear largely stems
from the creation of the Consumer
Finance Protection Bureau, a provision of the Dodd - Frank financial reform legislation enacted after the
subprime mortgage debacle five years ago.
With all of the fall out
from the
subprime mortgage industry and all of the new rules and regulations enacted thereafter, it might be still possible for those people with less than stellar credit to obtain mortgage
financing.
Joseph Mason, a
finance professor at Drexel University in Philadelphia and a former economist at the U.S. Treasury Department, says
subprime debt in money market funds is far
from safe.
There is still to much debt
financing our housing stock, and though most of the
subprime shock is gone, much of the shock
from other non-
subprime ARMs that will reset remains.