Who’s to blame for the subprime loan crisis? Do you even need to read this story to know? According to CNN/Money, the list of usual suspects include lenders, mortgage brokers, Wall Street, federal regulators. They also blame: Appraisers: My opinion? Can you...
Our elected officials are falling over themselves to propose new legislation intended to protect borrowers from overzealous lenders (and, borrowers from themselves, perhaps?). * State Attorney General Martha Coakley urged a key State House committee to consider making...
There are certain areas throughout the country where the subprime lending crisis seems destined to explode. (I don’t think the nation’s economy is at risk, btw.) The Wall Street Journal created a series of graphs detailing the carnage. Where are the...
David Lereah, NAR’s chief economist, predicts that tighter underwriting practices may cause total home sales to fall by about 100,000 to 250,000 nationally, or no more than 3 percent a year over the next two years. “Foreclosures are increasing inventories...
That’s not exactly true but, just so you have something educated to say this weekend when you and your friends are hanging out around the barbecue, here’s some talking points about the subprime lending issue: * Based on projections made by Christopher...
Well this was unexpected. From Reuters: U.S. Sen. Christopher Dodd, chairman of the Senate Banking Committee, is blaming federal regulators for the crisis in the subprime mortgage market. Dodd, a presidential hopeful, said in a statement that “a pattern of...