Merrill succumbed to its own stunning, bullish bets
on subprime debt and was taken over by Bank of America in 2008.
Not exact matches
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.
Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory lending practices that saddled
subprime borrowers and / or those with poor or limited credit histories with high - interest rate
debt that they could not repay; (ii) many of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and active borrower numbers and increasing the likelihood of defaults; (iii) the Company was providing online loans to college students despite a governmental ban
on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the number of its non-performing loans in the Registration Statement and Prospectus; (vi) because of the Company's improper lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification institution in China, subjecting the Company to undisclosed risks of penalties and financial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.
After topping 6000 in August 2007
on the hype and hope of voracious consumer demand during the
subprime debt bubble, the Chinese Shanghai Composite Index collapsed 74 % to 1585 by October 2008.
So, in an attempt to highlight why the total residential mortgage risk exposure is so much greater than anybody's expectations, this report drills down
on Prime, Alt - A and
Subprime allowable
debt - to - income (DTI) ratios that were made ridiculously lax relative to pre and post 2003 — 2007.
We're thinking about the time Wall Street banks colluded
on rigging prices
on the Nasdaq market; or the time they rigged their research departments and told us to buy stocks that they were secretly callings dogs and crap; or the time they got S&P and Moody's to give them triple - A ratings
on subprime pools of
debt while keeping it a secret that they had internal reports showing the loans didn't meet their origination standards — and then they went out and secretly shorted that
debt while continuing to sell it to their customers as a good investment.
Taking out a
subprime auto loan can do wonders for your credit scores as long as you keep your
subprime auto loan payments
on time and satisfactorily pay off the
debt.
Borrowers can get a loan, use it to pay off their
debt, then make payments
on the
subprime loan
on time.
Credit Shop's recent purchase represents the
debt on subprime, or «near prime,» accounts that Barclays had decided to sell.
Bank risk professionals now believe that lenders will keep allowing
subprime borrowers to take
on credit card
debt and have more access to auto loans over the next six months, -LSB-...]
Bank risk professionals now believe that lenders will keep allowing
subprime borrowers to take
on credit card
debt and have more access to auto loans over the next six months, according to a survey by the Professional Risk Managers» International Association for the credit scoring company FICO.
Subprime loans can help borrowers fix their credit scores, by using it to pay off other
debts and then working towards making timely payments
on the mortgage.
Still others made comparisons about how this new loan will re-create the conditions of the U.S.
subprime crisis — creating a situation where over-leveraged buyers take
on too much housing
debt.
The existence of
subprime mortgages encourages some people to take
on onerous
debt that they would be better off not incurring.
Depending
on factors such as your credit score, employment history and
debt - to - income ratio, the calculator may have come up with — and a lender may offer you — a prime rate mortgage, a
subprime mortgage or something in between, called an «Alt - A» mortgage.
CFPB proposes regulations
on payday loans, other «
debt traps» — Consumer bureau's rules aim to make small - dollar loans safer without cutting off emergency credit for
subprime borrowers... (See Payday)
n services, will allow its clients to use its credit attributes together with its
debt - to - income insight model (SM) in order to deliver the complete reporting requirements needed
on subprime loans.
This talk, organized in conjunction with Cameron Rowland's 91020000 exhibition at Artists Space's exhibition space, will explore how racial hierarchy is enforced by the markets: «For example, «black» spaces are forever unstable,
subprime and «waste», making them always available for (re) appropriation through various technologies such as
debt, (de) regulation and development,» writes Harris
on the talk's event page.
at Artists Space's exhibition space, will explore how racial hierarchy is enforced by the markets: «For example, «black» spaces are forever unstable,
subprime and «waste», making them always available for (re) appropriation through various technologies such as
debt, (de) regulation and development,» writes Harris
on the talk's event page.
The Blackstone - EOP deal put a large amount of highly visible, highly leveraged, high - priced property in the
debt market all at once, and that forced a reexamination of the
debt prices right
on the heels of the
subprime situation,» according to Reiss.
The Michael Lewis book — published in March 2010 — is a riveting read
on the
subprime mortgage crisis and clearly walks the reader through such cumbersome topics as collateralized
debt obligations and credit default swaps.