Sentences with phrase «into subprime»

The Fed has accused the bank of steering borrowers into subprime loans with higher interest rates, even when borrowers qualified for lower interest rate mortgages.

[37] Subprime products were sold primarily to consumers with poor or no credit history, although there is evidence that some consumers who would have qualified for «prime» loans were steered into subprime loans as well.

A settlement in one case was announced in July, when Wells Fargo agreed to pay $ 175 million to settle claims that the bank steered roughly 34,000 minority customers into subprime mortgages, even though they could have qualified for mortgage with lower fees and less risk.

Additionally, that 10 percent increase in student loan debt increases the probability that a borrower falls into the subprime category (a credit score of 620 or less) by 0.6 percent.

A 10 percent increase in student loan debt causes a 0.6 percentage point increase in the probability that the borrower falls into the subprime category (credit score of 620 or less) and a 0.8 percentage point increase in the probability that a borrower falls into deeply subprime (500 or less).

The bane of many a consumer's financial existence, it can relegate you into the subprime product market where interest rates are high and fees roam wild.

As competition heated up, name - brand lenders got into the subprime game.

Many people who have enough dings on their credit score to plunge it below 650 or 700 into subprime territory can still be reliable borrowers.

Nick Clements, co-founder of the comparison - shopping site MagnifyMoney, said that while credit card companies ventured back into subprime lending following the crisis, they did so less aggressively than auto lenders.

By then, though, the company had already taken a deeper dive into credit - default swaps, including an expansion into the subprime mortgage market that would eventually trigger the improbable.

Some loan officers may push borrowers into a subprime loan simply because they're easier to get approved and there is often more profit for the loan officer.

While many people who finance cars for long period do not fall into the subprime category, enough do to make these loans dangerous for the companies that fund them.

Anything under 600 can get you into subprime lending territory, where you really don't want to be.

Smaller banks, pumped up by easy money, rushed into subprime mortgage, real estate, and leveraged buyout lending — and they never even attempted to manage the risks.

«Isnâ $ ™ t the packaging of mortgages and selling them to investors one of the reasons we got into the subprime mess?

Of 28.4 million «credit - active» Canadian consumers, 11.9 per cent fall into the subprime category, according to estimates from TransUnion, one of the country's two credit - reporting agencies.

I wouldn't call these loans subprime just yet though, because a steady income stream is pretty much mandatory, but I feel like tendencies are pointing to the idea that banks might start tapping into the subprime market sooner or later.

It's a very frustrating situation for any homeowner, not just the ones who were lured into subprime loans.

But instead of tightening oversight, in the words of Wayne Barrett of The Village Voice, Andrew «took actions that - in combination with many other factors - helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments.»

He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments.

Bonnie Faulkner: It looks like the Bank of America is going back into the subprime loan market, albeit in league with U.S. Government.

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.

Not exact matches

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.

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.

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

General Electric Co. warned it might put its dormant subprime mortgage business, long - plagued by legal trouble, into bankruptcy protection.

For example, heightened risk taking by investors and elevated leverage in large financial institutions and in shadow banking activities were among the factors that turned a downturn in the U.S. subprime mortgage market into a global financial crisis.

It got into trouble by selling guarantees on mortgage securities that forced it to pay billions of dollars after the subprime mortgage bubble burst in 2007.

«Subprime auto is sort of the new hot place to get into the securities market,» Chris Kukla, executive vice president at the Center for Responsible Lending, told Bloomberg News.

The vast majority of subprime loans were financed by investors through placing the loans into securities that were sold onto the market.

In the quest to compensate for low fixed income returns, pension funds have plowed money into stocks, private equity funds and illiquid and very risky investments, like subprime auto loan securities and commercial real estate.

Many of these firms dipped into «deep subprime,» a decision that's becoming costly.

The latest survey also provided some insight into mortgage standards for «subprime» borrowers.

Those that move up into a new credit tier will become subprime only.

Private sector subprime seduced innocent borrowers into taking out liar loans.

«Predatory subprime auto lending takes advantage of vulnerable New Yorkers in every corner of our state and often drives people with bad credit further into debt.

The government took Northern Rock into public ownership in February 2008 as a result of its financial problems caused by the subprime mortgage crisis.

The bills, which were signed into law last December, are also designed to help homeowners who did not take out subprime mortgages but, nonetheless, face foreclosure.

Andrew Cuomo aggressively promoted subprime mortgages, which turned into NINJA (No Income, No Job and No Assets) loans, even while acknowledging that the default rate on these loans would likely be greater than on standard loans.

The subprime mortgage crisis helped launch the country into a deep recession between late 2007 and June 2009.

But, into this quirky utopia comes smooth - talking mortgage broker Vick Ward, who entices Rita with a subprime loan.

No matter what financial difficulties you've experienced in the past, the Ford financing team can help you find a subprime loan that fits into your budget.

The latest survey also provided some insight into mortgage standards for «subprime» borrowers.

I certainly agree that some borrowers lied, but it is equally true that some lenders placed FHA - qualified borrowers into high - cost subprime loans, did not explain all loan factors, etc..

«University administrators are the equivalent of subprime mortgage brokers,» he says, «selling you a story that you should go into debt massively, that it's not a consumption decision, it's an investment decision.

>> >» Rather than go into foreclosure, eligible borrowers can refinance with FHA and lenders can voluntarily write down the outstanding subprime mortgage principal balances.»

Borrowers refinancing into FHA from the subprime market are better off, even with slightly higher mortgage insurance premiums, because FHA insurance gives them access to substantially lower interest rates, and lowers their overall mortgage costs.

The company expanded into retail banking in 2005 with a focus on subprime customers.

Lynn Turner, chief accountant of the SEC from 1998 to 2001, says the SEC will likely look into money market funds investing in CDOs, particularly because the value of subprime collateral of CDOs can collapse suddenly....