Sentences with phrase «many subprime mortgages»

Having briefly learned a very hard lesson about the perils of over-zealous lending, big banks are once again spinning out subprime mortgages at a furious pace.

His books can alter the way the public thinks about and conceives of entire worlds, from baseball management to football pass protection to the subprime mortgage crisis.

Case in point: In mid-September, three weeks before Morneau tabled his rules, credit reporting agency TransUnion estimated that hundreds of thousands of Canadians carrying variable rate subprime mortgages could be significantly impacted by interest rate increases of even 25 basis points.

With one of its largest lenders in trouble, the subprime mortgage industry needs the housing boom to keep going

Subprime mortgages were home loans made to borrowers with weak credit and high debt.

Such an outcome could prove to be a classic unintended consequence: Morneau's reforms — meant to reduce or contain the accumulated risk created by precipitously over-leveraged homebuyers — may unwittingly increase the overall systemic risk in the economy by driving red - lined borrowers to the sort of uninsured subprime mortgages that have proliferated in the shadow banking sector.

Abramowicz foresees another sort of ripple effect in the event of a market correction: As homeowners with those short - term private subprime mortgages struggle to figure out how to refinance in a much more constrained market, they may opt to default and cut back on consumer spending.

Goldman may be hoping that this new venture will soften its image and make it more popular with average Americans, but it's hard to forget its role in the subprime mortgage crisis that destroyed billions of dollars of value on Main Street, not to mention people's livelihoods.

Just like subprime mortgage lending dragged so many American homeowners underwater during the housing crisis, some private lenders aggressively marketed their loans to students who weren't financially fit to support them.

Adding insult to injury, shares of GE briefly fell below $ 14 each on Monday after news late Friday that the Justice Department could take action in connection with alleged subprime mortgage violations.

The Oracle of Omaha first got involved with the Charlotte - based banking giant back in 2011, when investors began questioning whether Bank of America could deal with legal fees and liabilities stemming from the subprime mortgage crisis.

Through his former firm Scion, founded in 2000, Burry bought securities that would increase in value as subprime mortgage loans plummetted.

GE said on Friday that it was facing potential legal action by the U.S. Department of Justice in connection with subprime mortgages.

Goldman Sachs is the fifth bank to reach a multibillion - dollar settlement with the Department of Justice in relation to subprime mortgages during the Great Recession.

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.

Abacus Federal Savings Bank is the only institution to face criminal charges for its role in the subprime mortgage fiasco.

To take that comparison a step further, is there really any difference between the way VW packaged and marketed its pollution - spewing cars to regulators and customers as «clean,» and the way financial dark wizards took lowly subprime mortgages and prettied them up for sale as Triple - A high quality securities to gullible investors?

Bass is the founder and managing partner of Hayman Capital Management, where he gained a reputation for betting against subprime mortgages during the financial crisis.

In 2007, Cramer went on a fiery rant, blasting then - Fed Chair Ben Bernanke and central bankers for their lack of knowledge about the risk that the subprime mortgage market posed to the financial system.

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

A little more than a decade ago the economy collapsed, and at the center of that collapse was the subprime mortgage.

A nonprime / subprime mortgage is just a tool.

Subprime mortgages nearly buried the online broker; here's how it reinvented and repaired itself.

However, as The Great Recession taught us (or should have taught us), there is also a place for nonprime / subprime mortgages at the center of an economic disaster.

Fast - forward to 2018, and according to a report from CNBC, the subprime mortgage is back — this time with a new name: nonprime.

The office, the people said, initially planned to sue JPMorgan as soon as Tuesday over accusations that the bank flouted federal laws with its sale of subprime mortgage securities from 2005 to 2007.

It owned office buildings and stores; financed supermarkets, fast - food franchises, and other mid-market businesses; loaned money to consumers; sold insurance; and at one time even made subprime mortgages.

No, it has nothing to do with subprime mortgages or bloated home equity balances.

In that case, led by the civil division of the United States attorney's office for the Eastern District of California, prosecutors found that JPMorgan flouted federal laws with its sale of subprime mortgage securities from 2005 to 2007.

Examples from the last few years include the subprime mortgage crisis; the failure of the Peanut Corporation of America; the 2007 pet food scandal; lead paint on children's toys in 2007; melamine - laced Chinese milk products; contaminants in the drug Heparin; and dioxin - contaminated Irish pork.

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.

Not long after she took charge in June 2006, Bair began sounding the alarm about the dangers posed by the explosive growth of subprime mortgages, which she feared would not only ravage neighborhoods when homeowners began to default — as they inevitably did — but also wreak havoc on the banking system.

If the issuers of that insurance have to start paying up, many analysts fear the same sort of falling dominoes of i.o.u.'s that cascaded through the financial industry after the subprime mortgage market collapsed in the United States in 2007 and 2008.

In the wake of the subprime mortgage crisis that defined 2008, even the most risk - tolerant shareholders thought twice before focusing funds on the unpredictable and often turbulent market.

He was also forced to clean up other messes, including bad bets on U.S. subprime mortgages and structured debt that cost the bank more than $ 10.7 billion in writedowns from 2007 to 2009, the most of any Canadian lender during the 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.

It bears remembering, though, that it was the free money policies of the maestro himself, former Fed chair Alan Greenspan, that spawned the subprime mortgage fiasco in the first place.

Subprime mortgages disappeared following the financial crisis, but now they are coming back, with huge demand from both borrowers and investors.

A subprime mortgage is a type of loan for people with poor credit histories who can't qualify for conventional mortgages.

The only retraction Bernanke has made was in reference to his May 2007 comment that he thought the subprime mortgage mess would be contained.

You can still buy a home with bad credit, thanks to FHA loans and subprime mortgage loan lenders.

Loftier office location may be one element that nudges money managers to take unreasonable risks, whether during the subprime mortgage crisis in 2008, historic volatility in the cybercurrency market or in the record stock market surge that ended in January.

You might have thought things had changed in world financial markets since the U.S. subprime mortgage disaster.

When the subprime mortgage crisis hit in May, Delvinia prepared for the worst.

The turndown in house prices quickly led to a significant increase in subprime mortgage defaults.

First, most subprime mortgages were designed in a way that created rollover risk.

The subprime mortgage securities differed in an important way from those based on prime conforming mortgages.

Most of the securities derived from these subprime mortgages were deemed to be AAA rated by the rating agencies.