Sentences with phrase «toxic loans»

Many borrowers with toxic loans don't have three percent equity much less 10 percent.

Community banks and credit unions rarely offered toxic loans.

So, if we get rid of the 5 percent reserve requirement, then lenders can make more toxic loans.

Student loans have become the sudden modern toxic loan.

Also, borrowers with toxic loans above the current loan limit will also be able to refinance once the new measure becomes law.

We are hearing absolutely nothing about any bitcoin wallets manager going under due to a rise in the price of bitcoin and toxic loans going sour.

Many borrowers with toxic loans will not be able to meet the 3 percent standard because they bought with little or nothing down.

There are millions of toxic loans which remain outstanding, loans which in many cases are «exploding» ARMs that have yet to have payments re-cast, a term which means that either the «start» period for the loan has ended or that the loan balance has increased to a point where the loan contract requires re-casting.

Interestingly enough, it is in one sense harder to qualify for an FHA loan than for many of the private - sector toxic loans which are now failing at impressive rates.

HUD thought it might help 5,000 delinquent conventional borrowers convert from toxic loans to bright - and - gleaming FHA mortgages.

Since October 1st HUD has allowed 142 borrowers nationwide to dump toxic loans in favor of FHA financing.

This is a by - product of high unemployment rates, the remaining toxic loans from 2005, 2006 and 2007 which have not yet been refinanced or foreclosed and the end of the first - time home buyer tax credit.

Let's be very clear about this: The FHASecure program was supposed to be a way that borrowers could refinance existing toxic loans and save homes from foreclosure.

Private mortgage insurance companies — private sector competitors with the FHA — directly avoided coverage for toxic loans, though some subsidiaries were not.

FHA loans now represent some 35 percent of all new financing, up from about 5 percent just a few years ago when the program was crowded out of the marketplace by toxic loans.

The essential idea behind the H4H effort was to help underwater homeowners refinance toxic loans into FHA mortgages.

Combine toxic loans with the lack of a fiduciary obligation on the part of loan officers to get the best possible terms for borrowers and you wind up with lots of foreclosures and lender losses.

What allegedly started out as a federal program to help borrowers with toxic loans quickly morphed into program that included any borrower with a lung.

, to which TMM would agree, - but then again we would also note that the government has demonstrated prior ability to take on pools of toxic loans, throw them in an AMC and forget about it for quite some time (lessons for the Europeans?).

It has never offered toxic loans and it refuses to finance developers who have acquired private land through public condemnation — something now allowed under the infamous Kelo decision.

The test for the FHA is very simple: Provide a run - down by metropolitan statistical area with the precise number of borrowers who have refinanced toxic loans with FHASecure mortgages to avoid foreclosure.

What's interesting about the FHASecure program is that it leaves underwriting standards in place with one notable exception: A more liberal standard for those with toxic loans who have late or missed payments after the mortgage has re-set.

Cinelli says the mortgages that PRIMARQ aims to help borrowers obtain are a far cry from the toxic loans that helped spark the financial crisis.

Where did they get it, and how were they able to sell on their toxic loans so easily?

Toxic loans are out.

But the loans being made today are objectively better than the junk seen during the past few years because lenders are requiring documentation and dropping option ARMs, interest - only mortgages and other forms of toxic loans.

But the FHA mortgage program is not alone, and it surely did not originate the toxic loans which have driven down home values nationwide.

HUD must tell the public how many borrowers with toxic loans have been saved from foreclosure under the FHASecure program.

And consider the alternative, the toxic loans pumped out by private - sector lenders which have pushed the country into recession if not worse.

Will a lot of families with toxic loans be able to get an FHA mortgage because of the reform bill?

First, there are fewer lenders then they used to be — think about all the toxic loan lenders who are no longer with us.

Today the Pew Research Center has released a new damning report on the student loan crisis that paints a bleak and dark picture for anyone loading up on these toxic loans.

Also, it avoids political land mines and recognizes that toxic loans are a substantial threat to homeowners nationwide — and to the national economy.

The FHASecure program was supposed to be the innovative government program that was going to save tens of thousands of homeowners with toxic loans.

If the FHASecure program is to have any value then it must be immediately available to large numbers of homeowners with toxic loans.

The MBA study also looks at FHA mortgages and marketshare: Based on dollar amount, FHA loans represented 5.8 percent of the market in 2003 — a percentage which fell to just 3 percent in 2006 at the height of the toxic loan boom.

Virtually every toxic loan borrower is a solid candidate for FHA refinancing.

To be sure, many borrowers with toxic loans have already refinanced into FHA products — HUD reports that during the last fiscal year some 835,000 owners refinanced with FHA mortgages.

The conflict, of course, is that many people would have better credit if they did not have toxic loans and soaring payments.

What started as a program to save borrowers with toxic loans is a total flop.

When the whole thing came crashing down, banks were sitting on billions in toxic loans they had not yet been able to put into new securities.