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Special Report on

Subprime Consumer Lending

subprime consumer lending special research report Photo by cache.boston.com
,” reveals a lot of what is wrong about the way policymakers are thinking about our credit crisis. And if Stern’s position is widely held within the Fed, we are in worse trouble that I imagined. I’ll first deal with what I consider to be the overarching problem, namely, ideological bias, and then deal with the particulars in his speech. The MarketWatch summary of Stern’s speech gave me cause for pause: Federal regulators should be cautious in efforts to craft a regulatory response to the disastrous subprime mortgage meltdown, Minneapolis Fed President Gary Stern said Sunday. Stern said he was not ...
REVIEWS AND OPINIONS
Subprime Mortgage Lending – 2007 Statement
The United States Treasury Department, along with several other federal financial regulatory agencies, released a Statement on Subprime Mortgage Lending in June 2007. This sizeable document (it is 31 pages long) is aimed at people involved in borrowing and lending for mortgages at subprime rates. Of particular concern to the authors are adjustable rate mortgages (ARMs). The Statement provides guidelines that will ensure more appropriate practices regarding ARMs. The agencies are concerned that lenders persuade borrowers to take out ARM loans by giving them an extremely low rate of interest (called a “teaser rate”) for the first ... market research, surveys and trends
SUBPRIME LENDING: THE CREDIT AND HOUSING CRISES
The subprime crisis has started hurting not only the U.S. economy but also the worldwide economy and has not made its entire appearance yet. This invisible fear tumbled the worldwide stock market in mid of August 2007 and came again in late November. It has not been figured out how big its impact and how long will it take to overcome it, though many economist and financial firms have been working on figuring out them. We would like look into this crisis from ethical viewpoint. Since the subprime crisis is complicated and somewhat systematic crisis, it is very important to understand the subprime market related to financial ... market research, surveys and trends

SURVEY RESULTS FOR
SUBPRIME CONSUMER LENDING

Attorney General releases reports on state's 2008 subprime lending ...
DENVER — Colorado Attorney General John Suthers today issued three reports on Colorado’s 2008 subprime consumer lending activity. The reports cover lenders licensed by the Office of the Attorney General and do not include data on all loans issued in the state. The data mirrors the overall decline in Colorado’s economy last year and the slowing extension of credit. New mortgage and installment lending decreased more than 50 percent even as lenders continued to collect and service more than $3 billion in previously-issued loans. Delinquencies and defaults on installment loans increased during 2008. Payday lending volume also ... industry trends, business articles and survey research
Experian Subprime Lending Study Shows Consumers Are More Likely to ...
Jun 20, 2007 ... outstanding mortgage balances grew only by 3.3 percent ... the subprime consumer lending segment still remains viable,” said Williams. ... are $3.5 billion. For more information, visit the Group's Web site at ... industry trends, business articles and survey research
RELATED NEWS
GM Draws Washington Scrutiny Over Purchase of Subprime Lender
July 22 (Bloomberg) -- Chris Liddell, vice chairman and chief financial officer of General Motors Co., talks about the automaker's agreement to buy subprime lender AmeriCredit Corp. for $3.5 billion. GM is 61 percent owned by the U.S. Liddell speaks with Betty Liu and Jon Erlichman on Bloomberg Television's "In the Loop." Mario Gabelli, chief executive officer of Gamco Investors Inc., also speaks. (Source: Bloomberg) General Motors Co., the automaker 61 percent owned by the U.S. Treasury, is facing criticism over its decision to pay $3.5 billion to buy a lender that specializes in auto loans to shoppers ... market trends, news research and surveys resources
Credit crunch eases for car loans
“A couple of months ago, it was horrible,” said George Magliano, an automotive research analyst with IHS Global Insight. “The least blemish on your credit report and you got nothing.” The loan approval rate for customers with the highest credit scores was 90 percent in June after sliding to 70 percent in late 2008 during the recession. It’s this group that’s taking advantage of the widely advertised zero percent financing deals. For the majority of consumers with middle-tier credit, in the range of 620 to 750, loan approvals jumped 12 percentage points in the past year to above 82 percent, ... market trends, news research and surveys resources

INFORMATION RESOURCES

Examination Handbook 217Q, Consumer Lending Questionnaire, January ...
Does the institution engage in subprime consumer lending activities? 21. Does the institution purchase consumer loans from others? ... technology research, surveys study and trend statistics
FRB: Speech, Greenspan--Consumer finance--April 8, 2005
It is a pleasure to be here today as you conclude your discussions about our dynamic consumer finance market. Our nation's vibrant financial services industry is remarkable in many respects, with myriad providers offering consumers a broad range of transaction and credit options. The industry is central to the functioning of our robust consumer sector. Therefore, it is essential that policymakers, regulators, bankers, researchers, and consumer groups remain fully engaged in monitoring developments in the consumer finance market and continually seek to better understand the strengths and weaknesses of the financial ... technology research, surveys study and trend statistics
What Happens when Information Leaves a Market? Evidence from Post ...
the upward trend in subprime consumer lending. Ausubel (1997) and Ellis (1998) also connect increasingly aggressive subprime lending to the filing rate, ...
REAL TIME
SUBPRIME CONSUMER LENDING
QUESTIONS AND ANSWERS
What is subprime lending? How did decreasing the cost of credit ...
Subprime lending is the practice that involves giving out mortgages to borrowers who would otherwise not qualify. When interest rates were lowered, banks gave out these loans to people that couldn't afford them like they were hotcakes. This is one of the main reasons for this mess we are in now. When people don't pay back their loans, the bank risks the inability to secure bank deposits. When this happens, they are strapped for cash and beg the government for money (bailout) to keep their operations going. 1 year ago There are currently no comments for this question. * You must be logged into Answers to add ...
Google Answers: Predatory Lending
Can anyone provide research, statistics regarding predatory lending, lender fraud and malpractice by mortgage lenders and the effects that it has on consumers, the costs involved? chancho-ga, There are a wide variety of reports available on the practices of predatory lending, and the impacts they have across the country. I've compiled links to the most authoritative reports, below. For the most part, they are factual, statistical research documents, though I've included a few "how to avoid predatory lenders" types of reports as well, since these are representative of the types of literature available. I ...