Lenders and investors are concerned over legislation taking aim at the mortgage industry in response to the escalating bad credit home loan crisis.
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U.S. bank regulators issued new standards for bad credit home loan lending on Friday. They includes several new consumer protections.
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U.S. stocks closed lower as the growing concerns about the subprime (or bad credit mortgage) market dragged down shares of several prominent investment groups.
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Are the problems swirling around the bad credit home loan market abating, giving hope to a housing market stagnant at best and in turmoil at worst?
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In eight years as a senior loan officer, Josh Tullis rarely felt compelled to reject a first-time home buyer’s home loan application.
He’s saying “no” plenty in 2007.
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The housing market may be turning the corner, but subprime home mortgage programs boiled over and have sunk three more home loan lender groups, according to recent reports.
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Bad credit home loan guidance opposed by some of the nation’s biggest lenders will be “largely intact” when completed by a group of regulators later this month, Federal Deposit Insurance Corp. Chairman Sheila Bair said on Wednesday.
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A bad credit home loan lender that had dodged the shutdowns and takeovers that gradually wiped out independent rivals in the mortgage business this year joined the list Monday by agreeing to sell itself to a private equity fund, the Los Angeles Times reports.
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A Rhode Island lawyer claims he has found a chink in the legal armor of bad credit mortgage loan giant Ameriquest, one that could give hundreds of thousands of owners grounds to wriggle out of their loans.
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It was 2004, and the real estate market was on fire.
Down in the Southern California housing market, a hub for home loan lenders specializing in loans to people with weak, or subprime, credit, brokers were making a fortune pushing risky mortgages on home buyers.
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