Sentences with phrase «subprime mortgage loan lenders»

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

Not exact matches

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.

One of the few positives in acknowledging that one is a subprime lender is that, unlike the so - called prime lenders, the buyers of Block's mortgages can't now come back claiming they were shocked to discover the loans were indeed subprime.

Even those who already have a home and a mortgage to repay can find it is a good idea to get a new mortgage loan from subprime lenders - essentially refinancing their existing mortgage.

Subprime lenders provide mortgage loans to people with adverse credit at slightly higher rates.

You may, however, need to use a subprime mortgage lender - or - a mortgage lender who specializes in loans for people with poor credit.

A contrarian view is that Fannie Mae and Freddie Mac led the way to relaxed underwriting standards, starting in 1995, by advocating the use of easy - to - qualify automated underwriting and appraisal systems, by designing the no - down - payment products issued by lenders, by the promotion of thousands of small mortgage brokers, and by their close relationship to subprime loan aggregators such as Countrywide.

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.

Another practice among predatory lenders is to include a prepayment penalty on loan agreements, especially those involving subprime mortgages or car loans.

Many consumers are good borrowers that do not fit into a perfect box so non-prime mortgage loans become very appealing when subprime mortgage lenders get the flexibility they need from the banks to loosen lending standards.

But by selling the subprime loans through the secondary mortgage market, the lenders were able to «offload» the risk associated with those loans.

«The subprime mortgage market [in which lenders dealt out high interest loans to risky, often low - income borrowers who couldn't make their payments] are virtually nonexistent,» says McBride.

From the article: «Federal Housing Administration loans once served a broad spectrum of borrowers until the subprime mortgage meltdown came along and pushed lenders... View Article

But much like the country's private lenders during the first several years of the present century, Fannie Mae and Freddie Mac's drive to increase profits helped create the housing bubble (thanks to lowered underwriting standards, approvals for subprime borrowers and the bundling of loans into mortgage - backed securities).

In late 2005, home prices began to fall, which led to borrowers being unable to afford their mortgages, defaulting on their loans, and subprime lenders filing for bankruptcy.

Although FHA was caught unawares by a tremendous increase in its market share when subprime lending went south, it has made important strides in monitoring mortgage lenders and enforcing FHA guidelines for underwriting mortgage loans.

In fact, after the subprime mortgage crisis of 2007 - 08, they became known as «liar loans,» because borrowers and lenders were able to exaggerate income and / or assets to qualify the borrower for a bigger mortgage.

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With the recent problems suffered by subprime mortgage lenders, FHA loans are making a strong comeback as a useful alternative for first - time home buyers and home buyers with less than perfect credit.

A main reason for the rise in foreclosures is due to mortgage lenders doling out subprime mortgage home loans with adjustable rate features based on the borrowers» ability pay the mortgage on the low introductory interest rate, not the future reset mortgage rate.

To state it differently, subprime mortgage lenders are willing to give loans to people who would not normally qualify for a loan.

Some unrestrained lenders, for example, offered infamous 2/28 adjustable - rate mortgages to entice subprime borrowers to initiate loans at low rates, only to find that they could not afford the payments when the mortgage quickly reset at a much higher rate.

Not all subprime mortgage lenders are approved to originate FHA loans, but most are.

Some subprime mortgage borrowers will get a private lender loan, clean up their credit and then refinance later.

«Federal Housing Administration loans once served a broad spectrum of borrowers until the subprime mortgage meltdown came along and pushed lenders to tighten underwriting standards and credit score requirements.

Much like mortgages, subprime auto loans go through Wall Street's securitization machine: Once lenders make the loans, they pool thousands of them into bonds that are sold in slices to investors like mutual funds, pensions and hedge funds.

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But during the early and mid-2000s, high - risk, or «subprime,» mortgages were offered by lenders who repackaged these loans into securities.

We have successfully represented officers and directors of banks, mortgage lenders (including those specializing in subprime loans), and other financial institutions in connection with regulatory matters and complaints brought against them arising from allegations of failure to observe their fiduciary duties, alleged fraud, alleged predatory lending practices, and other matters arising from their respective roles in guiding and leading the efforts in the marketplace of their institutions.

Greater Northwest Mortgage, Inc., Clackamas • OR 1999 — 2001 Mortgage Analyst Performed all assisted services to loan originators with setup, analysis and placement of conventional, government and subprime loans with wholesale lenders.

More than 2 million subprime mortgage loans that lenders made during the boom years are in foreclosure, putting at risk $ 164 billion in wealth accumulation, the Center for Responsible Lending says in a study.

The study found that, thanks to aggressive tactics by subprime lenders who prey disproportionately on minority households unfamiliar with the financing system, one in five households with a subprime mortgage loan now face losing their home.

«We believe that the more prudent mortgage underwriting in Canada than in the United States, headlined by the very small number of subprime loans here, has prevented the stockpiling of high - risk mortgages by lenders,» states the report.

Thanks to aggressive tactics by subprime lenders who prey disproportionately on minority households unfamiliar with the financing system, one in five households with a subprime mortgage loan now face losing their home.

Driven by Wall Street's demand for subprime loans to securitize and sell to investors, lenders sold high - risk products such as exploding adjustable - rate mortgages — loans with interest rates that could triple after two years — and liar loans, also known as stated income loans, which required little or no documentation about income, assets, or credit history.