Sentences with phrase «leading subprime mortgage lender»

In April 2007, New Century Financial Corp., a leading subprime mortgage lender, filed for bankruptcy.

New Century Financial Corporation, a leading subprime mortgage lender, files for Chapter 11 bankruptcy protection.

Not exact matches

Similar scams involving unscrupulous lenders who gave subprime mortgages to homeowners led to the massive surge in foreclosures in southeast Queens over the years, according to Comrie.

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.

Hence, many subprime mortgage lenders, are being asked to repurchase these untouchable mortgages, leading to subprime lenders ultimate financial demise.A good example of current industry momentum is the New Century Financial Corporation, a prominent subprime mortgage lender.

In late 2005, home prices began to fall, which led to borrowers being unable to afford their mortgages, defaulting on their loans, and subprime lenders filing for bankruptcy.

We have successfully represented officers and directors of banks, mortgage lenders (including those specializing in subprime loans), and other financial institutions in connection with regulatory matters and complaints brought against them arising from allegations of failure to observe their fiduciary duties, alleged fraud, alleged predatory lending practices, and other matters arising from their respective roles in guiding and leading the efforts in the marketplace of their institutions.

From the NAR President: Subprime mortgages have driven many families into foreclosure and led to lender closings.

Subprime mortgages have driven many families into foreclosure and led to lender closings.