Search

The article focuses on the interest of residential mortgage-backed security (RMBS) buyers in understanding the nonprime mortgage lending. Topics discussed include the views of John Hsu, head of capital markets at Angel Oak Capital, on the drop in nonprime origination after financial crises in housing market, risks for nonprime mortgages such as high geographic concentration of loans, and the views of Jack Kahan, managing director of Kroll Bond Rating Agency, on related deals.

So, it shouldn't come as a surprise the modern-day "layaway you get to have right away" -- known as "Buy Now Pay Later", or BNPL -- is taking the nation by storm, with 40% of consumers indicating they used at least one BNPL product this past holiday shopping season. President, Center for Responsible Lending Buy Now Pay Later (BNPL) products claim to offer consumers a risk-free way to boost their buying power, and maybe build credit and help others in the process. [Extracted from the article]

The trend exists in all past-due categories for subprime mortgages, but the numbers are still below levels seen just before the pandemic, Vantagescore found. [ABSTRACT FROM AUTHOR]

The article provides information on the buy-to-let (BTL) loans industry in Great Britain. The author inferred that the U.S. subprime implosion has caused mortgage lenders in the nation to suffer liquidity constraints. She averred that companies such as Paragon Mortgages, Alliance & Leicester, and Bradford & Bingley have seen profits drop due to the liquidity problem. She added that a slowdown in house prices will continue to be a test for the BTL market.

The article looks at issues relating to the subprime credit market in the U.S. Several analysts had been forecasting that the credit crisis will come to an end, however, some financial experts think differently. For instance, Andrew Lo of hedge fund company, sees the possibility that subprime-related issues may affect certain sectors of the U.S. economy. To purchase homes, several homeowners in the U.S. use leverage. The common approach is to make a 20 percent down payment and borrow 80 percent of the house's value.

Federal Housing Finance Agency Director Mark Calabria said a virus-induced financial crisis might give rise to more delinquencies and foreclosures than the 2007 subprime mortgage meltdown. [ABSTRACT FROM AUTHOR]

When the borrower's BNPL loan is linked to a bank account that lacks sufficient funds for payment, the BNPL lender's payment attempts typically will trigger highly punitive nonsufficient-funds fees or overdraft fees. And most BNPL lenders do not report repayment to credit reporting agencies, which means BNPL offerings typically don't do anything to help consumers build or improve their credit scores. Regulators should ensure that BNPL lenders make loans only after determining the borrower's ability to repay (considering both income and expenses or obligations), and that these lenders are not charging unfair fees. [Extracted from the article]

The article reports on the lawsuit filed against Charles Schwab Corp. by subprime mortgage investors in the U.S. Mike Labins, the lead plaintiff and one of Schwab fund investors, claimed that the firm marketed its Schwab YieldPlus Fund as a higher-yielding alternative to money-market funds. However, like the other bond funds that investors have purchased, it is also plummeting.

Information about the topics discussed at the annual conference of the Money Management Institute in the U.S. in March 2008 is presented. The conference, "Innovations in the Managed Solutions Industry," focused on the crisis in global subprime mortgages. Among the speakers were Mark Fetting of Legg Mason, Paul Hatch of Global Wealth Management Investments and Kevin Hunt of Old Mutual U.S. Holdings.

The article reports that several public and private pension funds may experience aftershocks from recent slew of defaults on subprime mortgages. According to Jack Abraham, national leader of the retirement practice at PricewaterhouseCoopers in Chicago, Illinois, pension plans have increased their exposure to hedge funds. Pension funds with substantial investments in hedge funds may see more of a bounce back than those with little exposure to hedge funds.

The article reports on the sales forecasting related to mortgage-backed securities in the U.S. It discusses the negative reports on the drop in housing sales, writedown on subprime mortgages, and credit issues focusing on Merrill Lynch & Co., Axon Financial Services structured investment vehicles (SIVs), and Countrywide Financial Corp. Furthermore, Mortgage Bankers Association's report on a slight increase in overall mortgage application with emphasis on the refinancing index is noted.

The article presents analysis of the mortgage business industry for 2008 and the next few years in the U.S. SMR Research Corp. explained that residential mortgage lender insolvencies caused by poor loan underwriting are coming to an end. However, defaults on subprime mortgages are predicted to continue driving up foreclosures until 2008.

The article reports that the meltdown of the market for subprime mortgage-backed bonds has raised questions about the safety of debt and about the reliability of the rating agencies responsible for telling investors how much bonds are worth in the U.S. The major bond rating agencies rate the strength of life insurance companies. The crisis has revived awareness of flaws in the agencies' methods for rating carriers.

The article focuses on the forecast in the U.S. mortgage sector. The mortgage-backed security continue to observe a below-normal volume due to the ongoing deterioration in housing, subprime and funding. The National Association of Realtors expected a further decline in the August report of its Pending Home Sales Index due to a standstill occurring in the market. Analysts at Barclays Capital remained passive on the mortgage basis as they anticipated spread to remain under pressure.

The article reports on the continuous decline of subprime affecting several companies. The most affected is the American Home Mortgage Investment Corp., where it was closing all and servicing businesses and laying off more than 6000 of its employees. The HomeBanc Corp. announced that it would stop funding at its mortgage loan origination business and will no longer accept loan application. The National City Corp. has stopped taking applications for new home equity loans and lines of credit.

Federal Housing Finance Agency Director Mark Calabria said a virus-induced financial crisis might give rise to more delinquencies and foreclosures than the 2007 subprime mortgage meltdown. [ABSTRACT FROM AUTHOR]

Federal Housing Finance Agency Director Mark Calabria said a virus-induced financial crisis might give rise to more delinquencies and foreclosures than the 2007 subprime mortgage meltdown. [ABSTRACT FROM AUTHOR]

While the direct risk to the U.K. financial system is limited for now, stability risks may emerge if the pace of growth continues and the assets become more entrenched in the wider system, the BOE said. The Bank of England called on policymakers to beef up the global framework for regulating cryptocurrencies to prevent them from threatening the wider stability of financial markets. [Extracted from the article]

The percentage of recent mortgage borrowers with subprime credit scores still resides in the single digits, but nearly doubled what is was in 2013, according to TransUnion. [ABSTRACT FROM AUTHOR]

Unusually, all of the loans in the $374 million transaction were purchased from a single originator, Impac Mortgage. [ABSTRACT FROM AUTHOR]

The article focuses on the problems in the subprime mortgages market in the U.S. and the assertion of Federal Reserve Chief Ben Bernanke that there is a little chance of problems in a subset of mortgage market. New Century Financial Corp. had filed for bankruptcy and other mortgage lenders had been tripped up by problem loans. According to Henry Kaufman, former Federal economist, the Federal Reserve and other supervisors are not aware of the magnitude of the problem.

The article reports on the ranking of bank performance in the U.S. It is stated that consistent performance in the face of those challenging market dynamics has been a common theme for institutions in "U.S. Banker's" annual ranking of mid-tier banks, based on full year 2007 data provided by SNL Financial. Moreover, the key to those institutions' strong performance was their ability to weather the subprime crisis and optimize the use of their capital.

The article reports on the significance of bond and stock certificate to companies in the U.S. The certificates offer ornate artwork celebrating some aspects of a business. Meanwhile, it adds that while stock and bond collectors typically focus on old issuers, the subprime crisis and all the attention it has gotten have prompted inquiries about scripophily from mortgage lenders that have gone bust.

The article focuses in the challenges facing the U.S. banking industry with the financial crisis in subprime mortgage market. It also looks at 2009 presidential candidate's move to highlight the crisis in their campaign, blaming it to the bankers, and explores the initiatives the banking sector can implement to address the problem. In general, the banking experts maintain that the mortgage crisis can be addressed effectively with help and cooperation from the Congress.

The article provides an overview of the survey conducted by BrokerUniverse.com on the attitudes of mortgage brokers as subprime crises worsen in the U.S. in 2008. It determines that 40% of the respondents were optimistic about their businesses, but a sizable minority was prepared to capitalize on the turmoil that has occurred in the industry. In addition, lack of liquidity for option adjustable rate mortgages (ARM) and subprime mortgage products in the secondary market were found.

The article reports that bank mergers in the U.S. have ground to a halt due to the effects of the credit crisis caused by the fall in housing prices. Banks are unwilling to place themselves on the market at a time when buyers are few and offering prices low. Several mergers already agreed to have fallen apart in the fall of 2007.

The article reports on a panel discussion by a group of community bank presidents and Chief Executive Officers on the effects of the subprime mortgage crisis on their institutions. The executives offer a consensus judgment that while few if any of their banks are exposed to subprime mortgages, they are suffering from a ripple effect created by the borrowers' financial distress. Persons with subprime mortgages are increasingly defaulting on the consumer loans the banks do issue.

The article focuses on the issues surrounding the mortgage broker industry in the U.S. The delinquency and foreclosure rates on subprime mortgages and other exotic loan products began climbing, as housing appreciation began to slow. Representative Barney Frank of Massachusetts sponsored the Mortgage Reform and Anti-Predatory Lending Act of 2007, in Congress.

The article presents a review of the year 2007 in the finance industry. The article discusses the credit crisis that led to a collapse of the mortgage and housing markets, including the failure of mortgage lender Countrywide Financial Corp. The crisis began when New Century Financial Corp., the largest subprime lender at the time, went bankrupt in April 2007.

The article reports that mortgage servicing has undergone a dramatic transformation in response to the housing crisis. The regulatory response to the subprime mortgage crisis has been markedly different from the actions that regulators took in the wake of the savings and loan crisis in the late 1980s and early 1990s. Portfolio retention strategies and adapting offerings to meet the demands of younger generations will be crucial.

Federal Housing Finance Agency Director Mark Calabria said a virus-induced financial crisis might give rise to more delinquencies and foreclosures than the 2007 subprime mortgage meltdown. [ABSTRACT FROM AUTHOR]

Caliber Home Loans’ next offering of subprime mortgage bonds includes a new product offered to borrowers with a stronger credit profile than its other programs – but also less equity in their homes. [ABSTRACT FROM AUTHOR]

The borrowers behind the $401.6 million COLT 2018-2 have weighted average liquid reserves of $426,633, or nearly twice the level of borrowers backing a deal completed in January. [ABSTRACT FROM AUTHOR]

December 28, 2020 As the nation awaits an incoming administration, acting Comptroller of the Currency Brian Brooks continues to charge ahead with aggressive actions, provoking both state authorities and consumer advocates. By the OCC's reading, any of the agency's future efforts to blunt state consumer protection laws would largely be shielded from meaningful oversight - a return to the freewheeling days of OCC preemption. [Extracted from the article]

The article reports that nonprime mortgage lender Invictus Capital Partners issued its Verus Securitization Trust 2017-1 worth 145 million dollars, where the offering shelf was recognized with triple-A ratings from Morningstar and Kroll Bond Rating Agency.

The article reports on the debut of nonprime mortgage lender Invictus Capital Partners in the securitization market with the launch of the 145-million-U.S. dollar Verus Securitization Trust 2017-1 subprime residential mortgage-backed security (RMBS). The rating given by both credit ratings agencies Morningstar and KBRA to the offer is noted. The annual gross income required of borrowers in VERUS 2017-1 is cited.

The article reports on the launch of a first-time 225-million-U.S. dollar asset-backed notes by Mariner Finance in 2017. The offer, called Mariner Finance Issuance Trust 2017-A, is supported by almost 90,000 subprime and nonprime personal loans. The lead managers for the deal are Wells Fargo and Goldman Sachs. As of January 31, 2017, the weighted average annual percentage interest rate for the pool was 27.7%.

The credit performance metrics of these deals is promising. Of the 10 deals issued since 2015, four have no 60-day delinquencies in the portfolio, and only one had has delinquencies exceeding 2%. [ABSTRACT FROM AUTHOR]

The article talks about the U.S. subprime mortgage market, the dubious tactics used in the riskier areas of nonbank small-business lending, and what it means for subprime business lenders who deal with commission payments to brokers and borrowers who are exposed to losses due to loan stacking.

The article reports on the response of mortgage originators to the rebound of subprime lending in the U.S. The perpectives of Jack Kahan, a residential mortgage specialist at Standard and Poor's, about the responsible subprime is presented. Also tackeld is how the subprime prove very different than its predecessor.

The article discusses the financial services industry and how the industry has lost consumer trust because of the subprime mortgage crisis. The crisis has brought on foreclosures, tighter credit, and higher interest rates, which have made the branding process more difficult. Institutions such as the Woodforest Financial Group Inc. banks have retained brand value by keeping the same hours as the Wal-Mart Inc. stores in which they operate.

This article reports that a legislative bill proposing a 700 billion dollar federal bailout of several U.S. financial institutions crippled by the subprime mortgage crisis has been rejected the U.S. House of Representatives by a vote of 228 to 205. It is stated that the stock market index the Dow Jones industrial average fell by 777 points following the vote.

The article reports on investment banking. Bank of America Corp. is involved in a deal to acquire Merrill Lynch & Co. Inc. which will make it even larger than Citigroup Inc. Kenneth D. Lewis, chief executive officer of Bank of America, states that a review of Merrill showed that it contains the appropriate liquidity and capacity to survive the subprime mortgage crises.

The author comments on financial reporting in the U.S. She explains fair market value in the context of the Enron debacle and the crisis facing the subprime mortgage market. The author argues that unless market value is actually cashed in it cannot be considered relevant to the holder of the asset. The author claims that political intervention in the subprime crisis would only slow the market's adjustment.

The article reports on historic trends in home ownership in the United States from the 1960's to the early 21st century. It is noted that rates of home ownership stayed between 62% and 66% until the late 1990's, when the rate rose dramatically, due to the increasing popularity of risky approaches to subprime mortgage lending.

The author offers information on the quests for bank earnings following the subprime mortgage collapse and weakening market in the U.S. It says that wealth management programs considered proposals on acquisitions, divestitures and spinoffs to the executive director group. It says that the relationship between financial planning and commercial banking customers was relative as banking business.

The article focuses on the collapse of the subprime market in the U.S. As a result of this financial crisis, some mortgage brokers have transitioned to offering Federal Housing Administration (FHA) and other agency loans, while others have transitioned into new lines of work. Others have added private-money lenders to their agenda to help them close difficult-to-finance deals.

The article focuses on the housing sector in 2008 in the U.S. It discusses the proposal of the government to increase the private-activity bond volume cap and allow state and local housing finance agencies to issue tax-exempt bonds for subprime mortgage refinancings. According to housing finance officials, they wanted to focus on the subprime mortgage crisis and the proposed legislative fixes.

The article focuses on what if any legislation dealing with the U.S. subprime mortgage crisis will emerge from the Senate Banking Committee. Committee chairman Chris Dodd has focused on the issue, and promised to introduce legislation. Republican members are not sure of its need, and senators from both parties say Dodd has not sought their input on his plan, which is sure to create future delays in its consideration.