«Exposes»
of the subprime mortgage industry have been done before.
Sunday, March 02, 2008 Lawyers Close to Partnership - Evaluating Your Situation In Our Slowing Economy The crash
of the subprime mortgage industry, rising gas prices, and a looming recession is having an impact on most sectors of the U.S. economy.
Mitchell Hersh, CEO of Edison, N.J. - based office REIT Mack - Cali Realty, suggests that doubts over continued strong fundamentals have escalated given the swift deterioration
of the subprime mortgage industry.
Not exact matches
With one
of its largest lenders in trouble, the
subprime mortgage industry needs the housing boom to keep going
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.
It is also expected to account for an even greater share
of the total
industry revenue, this is because they require higher fees than those charged by hedge funds and declining popularity
of other alternative asset vehicles in the aftermath
of the
subprime mortgage crisis.
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.
The only real way to have any degree
of certainty about whether the stock market will go up or down is to either have insider trading information (which obviously would be against the law) or if you were an immensely gifted trader that could identify trends that other investors were missing as Dr. Michael J. Burry did in 2007 when he accurately predicted the collapse
of the US
subprime mortgage industry (and overall housing market).
But blaming low - income families and casting them as unfit to own a home ignores decades
of successful
mortgage lending before the
subprime boom — before reckless underwriting and aggressive marketing
of unsustainable loans became common financial
industry practice.
Until the 2007 collapse
of the U.S.
subprime mortgage industry and resulting credit crisis, Lehman generated a significant portion
of its revenue through the issuance
of mortgage - backed and asset - backed securities.
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.
Brinkmann said problems with
subprime loans are diminishing because the
industry has stopped approving those loans and many
of the
subprime adjustable rate
mortgage loans already have reset to higher rates.
Amid losses from the
subprime mortgage industry's collapse, issuers have been more generous with certain types
of cardholders than others.
Posted 24 January 2009: «Like many
of those who were caught off guard by the
subprime mortgage crisis, those involved in the rapidly expanding climate change
industry are not asking the most fundamental
of questions:» • What if the science that supposedly backs concerns over carbon dioxide (CO2)...
Many people, especially in the
mortgage industry, don't include «Alt - A»
mortgages within their definition
of subprime which seems crazy.