Currently viewing the tag: "subprime"
Taxpayers Paying Subprime Players Billions to Fix Loan Mess (Democracy Now)
September 2, 2009 by CULIK LAW
Democracy Now! reports on how subprime lenders are receiving TARP funds under the Obama Administration’s Making Home Affordable plan to fix the loans that they originated. via Report: Taxpayers to Pay Subprime Players Billions to Fix Loan Mess.
Continue Reading →Top 10 myths about subprime mortgages
July 24, 2009 by CULIK LAW
From the Federal Reserve Bank of Cleveland by Yuliya Demyanyk On close inspection many of the most popular explanations for the subprime crisis turn out to be myths. Empirical research shows that the causes of the subprime mortgage crisis and its magnitude were more complicated than mortgage interest rate resets, declining underwriting standards, or declining [...]
Continue Reading →Massachusetts Attorney General Martha Coakley’s Office entered into a settlement with Fremont Investment & Loan and its parent Fremont General Corporation to resolve the Commonwealth’s lawsuit against the California-based lender. Fremont has agreed to pay Massachusetts $10 million in consumer relief, civil penalties and costs. Fremont has also agreed not to foreclose upon unfair loans [...]
Continue Reading →Wells Fargo Accused of Predatory Lending to Blacks
June 8, 2009 by CULIK LAW
Baltimore officials have sued Wells Fargo in Baltimore for predatory lending, steering blacks into high-interest subprime mortgages. The New York Times reports: Wells Fargo, Ms. Jacobson said in an interview, saw the black community as fertile ground for subprime mortgages, as working-class blacks were hungry to be a part of the nation’s home-owning mania. Loan [...]
Continue Reading →Untitled Document "I cannot thank you enough for the stellar work you did on my Loan Modification. I tried it myself with no success. You were the expert I needed! You were friendly with me and relentless with the bank. You never lost patience nor spirit. You took it to every level necessary to win. AND WIN WE DID. The Modification you obtained cut over a thousand dollars from my monthly mortgage payment! I can keep my house!" Sincerely yours, Robert N.
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