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Special Report on

Predatory Lending Leads to Foreclosures

predatory lending leads to foreclosures special research report Photo by
The foreclosure process can easily turn into an emotional drawn out procedure. Consumers who become delinquent on their home loans are faced with months of late notices, warnings, demands for payments, and eventually eviction. In the meantime the bank is paying staff to work the accounts while not receiving any payments. Foreclosure proceedings are sad affairs during which there are really no winners. The banks are dealing with millions of foreclosures and are now seeking alternatives to the ugly process that only creates ill will and desperation among consumers. One of the more recent trends is for lenders to work with ...
John R. Talbott: The Failure of Financial Reform, Itemized
It is really quite incredible that of all the things that went wrong to cause the latest economic crisis, the new financial reform bill does almost nothing with regards to the following key issues. Here are the original problems and the actions being taken. 1. Bank leverage: Very little is done about this in the new bill -- banks still can do things off balance sheet (what is the business purpose of doing things off balance sheet except to deceive?) -- still using risk measurements based on historical volatility of assets, VAR, which can easily be gamed by managements rather than strict capital requirements based on actual ... market research, surveys and trends
Now I Get It… We're Not Stopping the Foreclosure Crisis because it ...
on the foreclosure crisis.  You see, up until now, and having written almost 300 articles on the topic, I’ve been struggling to understand why we as a nation have allowed the foreclosure crisis to go on unchecked. I mean, come on… not only has not one government program worked in the least, but at this point we don’t even have anything in place that MIGHT work to stem the tide of foreclosures that quite literally threatens our country’s economic stability, and therefore that of the entire world. Think about it… according to the Obama Administration and a whole gaggle of media pundits, we managed to figure out how to save a ... market research, surveys and trends


Clear Debt Now » Blog Archive » Consumers Under Growing Financial ...
There are plenty of numbers and figures published that are used as barometers for the state of the economy. One of the numbers is the percent of consumers who are behind on their mortgage payments but have credit card accounts that are current. When the number goes up it is taken as a sign that consumers are under greater financial duress. The reason a higher number indicates problems is that it means consumers are paying the smaller bills like credit cards so they can maintain easy access to cash and credit. Paying a mortgage payment does not provide borrowing ability. As Sean Reardon with TransUnion told Reuters, “You cannot ... industry trends, business articles and survey research
Mortgage News for the Mortgage Industry | National Mortgage Loan ...
A New Jersey appeals court has overturned a lower court ruling against an upstart company and its owners who are accused of stealing customer information from the lender that they previously worked for. (July 1) Although agency issuance of mortgage-backed securities has fallen by more than half over the past year, activity improved last month. But activity at the Government National Mortgage Association was lower. (July 1) It was another record-low for fixed mortgage rates this week. Faced with such attractive interest rates, droves of prospective borrowers began mortgage shopping.. (July 1) The mortgage servicing subsidiaries ... industry trends, business articles and survey research
Mortgage fraud: Securing the heart of the American dream
In 2005, Luis and Cindy Mendez got taken. When they bought a new home for their growing family, they were initially offered a "safe" loan with a fixed interest rate. What they actually got was an interest-only loan, a financial trap of never-ending payments, set to spring at the first economic distress. When Luis' employer cut his hours and Cindy took time off to have a baby, they struggled to make their monthly payments. They sought help from the loan officer, but because their home value had decreased, they were turned away. Luis and Cindy worried about losing their home. Homeownership is at the heart of the ... market trends, news research and surveys resources
Pelosi: 'By Voting Yes, We Will Pass the Toughest Set of Wall Street Reform in ...
spoke on the House floor in support of the conference report of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which passed the House this evening by a vote of 237 to 192. The legislation now goes to the Senate, which is expected to approve it soon and send it to President Obama for his signature into law. Below are the Speaker's remarks. "As I listen to the debate here, I can't help but remember, and I have vivid memory of it, a couple of years ago, almost two years ago, September 18th , a Thursday afternoon. We were gathered in our office and had just seen the week and a half preceding, a week ... market trends, news research and surveys resources


Subprime Lending, Mortgage Foreclosures and Race: How far have we ...
set of transactions commonly referred to as “predatory lending. ... consistently higher in minority communities - leads to higher numbers of foreclosures. ... technology research, surveys study and trend statistics
Predatory Lending and Foreclosures Prevention Fact Sheeet
The Commission works to eliminate discrimination in housing, lending, ..... The Childhood Lead Poisoning Prevention Program provides a range of both primary ... technology research, surveys study and trend statistics
Columbia Law School : Home Foreclosure & Predatory Lending
The on-going sub-prime lending issue has put in danger the ability of millions of Americans to stay in their homes, disquieted investors and roiled markets worldwide. Working with other state officials, including banking commissioners, and in close discussion with some federal regulators, the banking industry, the investment community and non-profit consumer advocates, state attorneys general are committed to being part of the solution to the complex problems that are arising from the burgeoning home foreclosure crisis. In doing so, attorneys general are building on a solid record of achievement. Attorney general ...
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WikiAnswers - What are the causes of global financial crisis ...
The Financial Crisis is a situation where most of the financial institutions or assets lose large part of their value. The recent financial crisis has three main reasons 1. Real Estate Market Crisis 2. Large Economy moved into recession 3. Basic collapse of Financial Institution 1. Real Estate - Subprime lending (near-prime, non-prime, or second chance lending) is a financial term that was popularized by the media during the "credit crunch" of 2007 and involves financial institutions providing credit to borrowers who do not meet prime underwriting guidelines. Subprime borrowers have a heightened perceived risk of ...
It appears so. See links and text below:
In 2008, Rep. Michele Bachmann's district had the highest number of foreclosures in Minnesota and the highest rate of foreclosures. Now, as 2009 draws to a close, that trend continues. According to new data from HousingLink and county sheriffs' offices, the Sixth Congressional District is being disproportionately impacted by the foreclosure crisis despite its representative's reticence to vote for foreclosure relief legislation... Read the whole story: The Minnesota Independent closure-rate Bachmann’s district continues to lead state in ...