Sentences with phrase «poor quality mortgages»

They wound up selling packages of very poor quality mortgages (sub-prime) called «collateralized debt obligations» (CDOs) and convinced the rating agencies (who were paid by Wall Street) to rate these «securitized mortgages» AAA.

In related news, an April 15 MarketWatch piece says, «A Senate subcommittee has accused Goldman Sachs of selling poor quality mortgage securities it bet against and is pushing the Justice Department to investigate Goldman CEO Lloyd Blankfein's testimony before Congress.

Not exact matches

That came after the company had jumped into mortgage - backed securities, a complex package of debts that often meant higher margins for banks, yet often included poor quality loans.

Moreover, something that gets lost in the arguments about credit quality is that the second - best predictor of mortgage default was how much skin in the game these buyers had, and even if Canada is not as risky as the US on lending to people with poor credit scores, we are awash in high loan - to - value lending (with its explicit government backing).

«The low interest rates of the early 2000s may explain the growth of the housing bubble, but they don't explain the poor quality of these mortgages.

If you are facing the possibility of foreclosure, suffering from health problems, or suffering a poor quality of life, a reverse mortgage may be a valuable tool to help you gain the retirement you want.