Sentences with phrase «risky loan product»

Stevens told attendees the entire financial industry made bad decisions regarding risky loan products and there is no doubt that reforms are needed to get back to a level of sustainable access for qualified consumers.

New mortgage lending rules to protect consumers from risky loan products will take effect this Friday, and Realtors ® will be on the front lines as homebuyers access safer mortgages that meet strong underwriting standards.

Not exact matches

Move from a risky loan such as an interest - only mortgage or a short - term ARM to a more stable product such as a fixed - rate mortgage.

ARM products are less risky for mortgage lenders, because if interest rates rise during the term of the loan, the lender gets more interest income.

Lenders claim that because repayment is contingent on the borrower winning the case, the product they offer is especially risky and shouldn't be classified as a loan.

Today's report also says that risky loans showed special slackening among merchant products.

As an Alt - A lender, IndyMac's business model was to offer loan products to fit the borrower's needs, using an extensive array of risky option - adjustable - rate - mortgages (option ARMs), subprime loans, 80/20 loans, and other nontraditional products.

Refinancing may mean that the customer has other debt that needs to be included in the refinance product, may have a lower paying current job that has decreased the original ability to repay the loan, has certain family or personal circumstances that have required a refinancing of the house, and other changes that may be riskier for a lending bank.

Whether you use a store credit card, finance through a company's preferred lender, or take your loan directly from the company you are buying a product from, the interest rates need to be higher to offset the losses incurred from lending to riskier borrowers.

Much of the financial turmoil we see today is a by - product of risky and dangerous loans which should never have been made available to large numbers of borrowers.

The VA allows this in order to allow you to move from a riskier home loan product to a less risky one.

The expectation is that mortgage refinancing a Fannie Mae loan will put responsible borrowers in a better position by reducing their monthly principal and interest payments or moving them from a more risky home loan structure (such as interest - only or short - term ARM) to a more stable product.

Largely because it comes with a lot of red tape and lacks a big choice in products, lenders rushed to fill the void with their much - riskier subprime loans.

«The housing crisis was not caused by low down payment lending, but rather by lapses and shortcuts in solid underwriting and by the introduction of complex loan products that were too risky for most consumers.

The Senate Appropriations Committee passed its fiscal year 2007 spending bill for HUD without NAR - backed provisions intended to make FHA financing more competitive against risky subprime loan products.

New mortgage lending standards were put into place this month by the Consumer Financial Protection Bureau to protect borrowers from the risky home loan products that contributed to the foreclosure crisis of the last decade.