This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more: Even as the Fed helped to stabilize the situation over the weekend, the stock market is down again on Monday morning. What is alarming from our standpoint is that CIT, Lehman, and National City Corporation all …
Clinton repeal of Glass-Steagall faulty as seen today Read More »
This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more: Should we balance the nation’s budget or should we pay down the national debt? It would be nice to do both but that is not going to happen. Instead, thanks the most inept bipartisan government in …
United States nears bankruptcy as national debt mounts Read More »
This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more: GMAC today reported that second-quarter net income fell to $293 million from $787 million a year earlier. Its mortgage unit, Residential Capital LLC, had a loss of $254 million, compared with a profit of $548 million …
This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more: A suit files in South Carolina alleges the borrower was not properly informed of how an option ARM actually works. The suit was filed Nov. 16 in U.S. District Court in Charleston and names as defendants …
This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more: Orson Benn, a former VP of subprime lender Argent Mortgage is off to prison for 18 years. Argent was one of Ameriquest’s divisions. Although it doesn’t do much for homeowners, it is nice to see something …
This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more: Decision One was a big middleman in the subprime industry. It originated loans through thousands of brokers and then sold those loans to firms that bundled them and sold them as mortgage-backed securities. Decision One was …
Decision One Not The Source of HSBC Subprime Problems Read More »
This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more: HSBC Holdings PLC, Europe’s biggest bank, said yesterday that it would close its U.S. subprime mortgage unit, cutting 750 jobs and taking $945 million (U.S.) in charges and writedowns, because the business is no longer sustainable. …
This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more: Merrill Lynch’s appetite for acquisition is one thing but proper research and due diligence is quite another. Amid all the uproar over at HSBC, Merrill Lynch decided to buy subprime lender First Franklin in September 2006. …
