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Tag Archives: subprime lending

Countrywide Emails Predicted Early Mortgage Collapse. Borrowers Set Up for Foreclosure.

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A reader and tipster (send in your tips here) has forwarded me a document which is alleged to be the emails and documents of Countrywide regarding the mortgage loans they were initiating. There are a number of foretelling and interesting statements contained in this document. One point in particular, after the pay option sub-prime loans exploded, is the statement about ... Read More »

Federal Housing Finance Agency Just STICKING it to Homeowners

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by Cora Currier ProPublica, Last week, ProPublica and NPR raised questions about a risky investment strategy at Freddie Mac that would pay off if homeowners stayed trapped in expensive mortgages. It’s just the latest example of how government-owned Freddie Mac and Fannie Mae have frustrated many by not putting homeowners first. Fannie and Freddie are required to help homeowners while ... Read More »

Despite What They Say This Is Not The End Of Subprime Loans

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Over and over again through print or on the airwaves it is being said that bankers have learned their lesson from the current economic crisis and credit will no longer be extended to people in the subprime market. While we hope that banks have learned their lesson that bad things happen when you lend to people most likely to default, ... Read More »

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