Sentences with phrase «subprime mortgages meant»
Either way, the increase in subprime mortgages meant people could borrow a LOT more money to chase homes, if they wanted to anyway.
http://www.realestatedecoded.com/ Not exact matches
Such an outcome could prove to be a classic unintended consequence: Morneau's reforms — meant to reduce or contain the accumulated risk created by precipitously over-leveraged homebuyers — may unwittingly increase the overall systemic risk in the economy by driving red - lined borrowers to the sort of uninsured subprime mortgages that have proliferated in the shadow banking sector.
Benjamin Tal's (CIBC's Deputy Chief Economist) following statement, in the Financial Post, helps to clarify what a subprime mortgage can mean in Canada: «But remember subprime can be someone like a plumber,» he said, referring to self - employed workers, a segment of the market that Canada Mortgage and Housing Corp. has mostly abandoned when it comes to backing loansmortgage can mean in Canada: «But remember subprime can be someone like a plumber,» he said, referring to self - employed workers, a segment of the market that Canada Mortgage and Housing Corp. has mostly abandoned when it comes to backing loansMortgage and Housing Corp. has mostly abandoned when it comes to backing loans.»
Even though the Bush administration authorised the TARP program in order to address the subprime mortgage crisis, Republicans resisted the Obama administration's efforts to resolve the financial crisis as it meant more spending, more debt and, most egregiously to the neo-liberal generation of Republicans, more government!
What's important to realize is this: Just because a lender offers you a mortgage with an Alt - A or subprime rate doesn't mean you wouldn't qualify for a prime - rate mortgage with a different lender.
By 2009, 50 % of those subprime mortgages were «underwater», meaning that borrowers owed more money on the mortgage than the home was worth.
More than half of the recent - vintage subprimes being «cash - out refis» meaning the mortgage was sucking more equity out of the house.
While in Canada a subprime mortgage may be underwritten to someone who is self employed, the American subprime product only required a heartbeat — meaning someone could be unemployed.
But if you sold subprime, er, I mean, affordable mortgages, you had a helluva lot less competition so for years you could sell more mortgages and, in addition, charge higher fees.
The reason the number of affordable / subprime mortgages skyrocketed during the boom was because lower lending standards mean more people can get mortgages and that means mortgage companies can sell more mortgages.