Subprime Loans

Subprime Auto Lending Revs Up

HuffingtonPost.com | Sharon Silke Carty | Posted 05.24.2012

Read More: Jeremy Anwyl, Edmunds.com, Chrysler, Dodge, Subprime Car Loans, Jessica Caldwell, Subprime Loans, Auto Industry, Business News

Car dealer David Kelleher of Glen Mills, Pa., says lately he's growing accustomed to a new kind of customer: lawyers, doctors and other high-salaried ...

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Finance-Seer

Glenn C. Altschuler | Posted 04.10.2012

Read More: Goldman Sachs, Countywide Financial Corporation, Stock Market Bubbles, Government Regulation, Progressive Income Taxes, Finance Capitalism, Subprime Loans, Concentrations of Wealth, Consumption Tax, Irrational Exuberance, Finance and the Good Society, Estate Taxes, Occupy Wall Street, Cap and Trade, Books News

Finance and the Good Society is a timely and on the whole persuasive reminder that the institutions of capitalism have the capacity to spread democracy, prosperity and greater equality.

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Eliot Spitzer: JOBS Act Would 'Return Fraud To Wall Street'

Slate | Eliot Spitzer | Posted 03.21.2012

Read More: Goldman Sachs, Congress, Video, Wall Street, Abacus, Financial Crisis, Kinder Morgan, Subprime Loans, Jobs Act, Eliot Spitzer, Greg Smith, Business News

Originally published in Slate Once again, the Puppets on Capitol Hill are about to slam the Muppets on Main Street. The country still hasn’t reco...

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The Incredible Shrinking Bank Of America

HuffingtonPost.com | Mark Gongloff | Posted 02.02.2012

Read More: Subprime Crisis, Subprime Mortgages, Wells Fargo, Countrywide Financial, Subprime Mortgage Crisis, Bank of America, Bank of America Countrywide, Banking Reform, Subprime Loans, Banking Industry, Business News

Once the biggest bank in the country, Bank of America is shrinking before our very eyes. After more than three years at the top, Bank of America is...

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'Buy Here Pay Here' Packages, Sells Subprime Auto Loans To Investors

Posted 01.01.2012

Read More: Auto Industry Subprime Backed Securities, Business News, Mortgage Crisis, Auto Loans, Subprime Loan Crisis, Credit Crisis, Video, Mortgage-Backed Securities, Subprime Loans, Auto Industry, Business News

Auto loan financiers are beginning to adopt a practice from the housing industry that many say played a significant role in the meltdown of the housin...

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Freddie Protecting Banks, Not Taxpayers

Peter S. Goodman | Posted 11.27.2011

Read More: Foreclosure Crisis, Fannie Mac, Subprime Loans, Freddie Mac, Bank of America, Foreclosure, Countrywide Financial, Housing Crisis, Business News

For many months, people concerned about the anemic American economy have focused on the housing market, and the reality that many of the nation's home...

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SEC Nears Settlement With Fannie Mae, Freddie Mac Over Subprime Loans

Posted 11.09.2011

Read More: Video, Mortgage, Freddie Mac, Monetary Fraud, Housing Boom, The New York Times, Mortgage Crisis, Fannie Mae, Sec, Securities and Exchange Commission, Subprime Loans, Housing Crisis, Business News

Regulators are close to an agreement with Fannie Mae and Freddie Mac to settle a case over disclosing their exposure to risky subprime loans, The ...

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Isn't It a Little Bizarre That the Government Is Suing the Banks?

Judge H. Lee Sarokin | Posted 11.04.2011

Read More: Foreclosures, Fannie Mae, Freddie Mac, Subprime Loans, Bank Bailout, Government Suit Against Banks, Bundled Mortgages, Politics News

How can we give the banks scads of money one day to remedy their wrongdoing, and then sue them the next for the same wrongdoing?

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S&P Considers Ranking Subprime-Backed Securities Above U.S. Government

The Huffington Post | Alexander Eichler | Posted 10.31.2011

Read More: Subprime Crisis, Subprime Mortgages, Subprime Mortgage Crisis, Financial Crisis, Standard & Poor's, Credit Rating Agencies, S&P, Credit Rating, Subprime Loans, U.S. Credit Downgrade, Business News

Though the credit rating agency Standard & Poor's no longer believes the United States merits a top triple-A rating, it is prepared to put its stamp o...

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$125 Million Subprime Lending Settlement Will Benefit Massachusetts Homeowners

Boston.com | Posted 10.09.2011

Read More: Subprime-Loans, H&R Block, Subprime Mortgages, BV Money, Massachusetts, Subprime Lending, Martha Coakley, Black Voices News

Thousands of black and Latino homeowners in Massachusetts will likely save money under a $125 million subprime lending settlement with a subsidiary of...

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Wells Fargo Target Of Justice Department Probe; Agency Alleges Discriminatory Lending

HuffingtonPost.com | Shahien Nasiripour | Posted 09.25.2011

Read More: Mortgage Lenders, Discriminatory Lending, Wells Fargo, Federal Reserve, Financial Crisis, Department of Justice, Subprime Mortgage Loans, Justice Department, Subprime Loans, Business News

WASHINGTON -- The Department of Justice is preparing a lawsuit against Wells Fargo, the nation's largest home mortgage lender, for allegedly preying u...

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Subprime Lending Is Back, Thanks To Private Firms

The Huffington Post | Alexander Eichler | Posted 09.11.2011

Read More: Federal Housing Administration, Mortgages, Subprime Mortgages, Freddie Mac, Housing, Jumbo Loans, Athas Capital, Financial Crisis, Fannie Mae, Subprime Loans, New Penn Financial, Shellpoint Partners, Subprime Borrowers, Business News

Subprime borrowers have been largely unwelcome in the lending market since the financial crisis, but it's becoming easier for them to get a home loan....

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Matt Taibbi: Goldman Could Achieve 'Corrupt-Enterprise Nirvana'

Rolling Stone | MATT TAIBBI | Posted 07.11.2011

Read More: Lloyd Blankfein, Senator Tom Coburn, Goldman Sachs, Senator Carl Levin, Timberwolf Deal, Morgan Stanley, Wall Street, Countrywide Loans, Economic Crisis, Sec, Daniel Sparks, Subprime Loans, Corporate Fraud, Housing Crisis, Hudson Deal, Business News

They weren't murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few ...

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Senators Back Delay In Crackdown On Fees That Yield Billions For Banks

HuffingtonPost.com | Zach Carter | Posted 05.25.2011

Read More: Price-Fixing, Community Banks, Senate Banking Committee, Federal Reserve, Debbie Wasserman Schultz, Business, Mortgage-Companies, Merchant Payments Coalition, Eric Cantor, Politics, Visa, Bank Lobby, Bob Corker, Spencer Bachus, Tester-Corker Bill, Subprime Loans, Michael Hunter, Financial Regulation, American Bankers Association, Dick Durbin, Credit Cards, Shelly Moore Capito, Bank Lobbyists, Mastercard, Wall Street, Consumer Federation of America, Consumer Financial Protection Bureau, Swipe Fees, Jon Tester, Debit Cards, US News, House Financial Services Committee, Politics News

WASHINGTON -- On Tuesday, a group of nine senators led by Montana Democrat Jon Tester put their names behind legislation to delay the Federal Reserve'...

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SEC: Ex-Fannie Mae CEO May Have Misled Investors On Subprimes

Reuters | Posted 05.25.2011

Read More: Bloomberg, Ceo Daniel Mudd, Fortress Investment Group, Fannie Mae, Sec, Subprime Loans, US Regulators, Wells Notice, Mortgage Company, Business News

(Reuters) - Daniel Mudd, the former CEO of government-sponsored mortgage firm Fannie Mae, has received notice from U.S. regulators that he may fac...

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Multibillion-Dollar Settlement Of Mortgage Cases In The Works

Posted 05.25.2011

Read More: Foreclosures, Mortgage Crisis, Subprime Mortgages, Subprime Mortgage Crisis, Subprime Loans, Subprime, Loan Modifications, Barack Obama, Mortgage-Backed Securities, Bank of America, Wells Fargo, JP Morgan, Fannie Mae, Freddie Mac, Obama Administration, Business News

NEW YORK (By Jonathan Stempel) - The Obama administration is trying to push a settlement that could force the largest U.S. banks to pay for reduction...

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More Auto Loans Going To Subprime Buyers

AP | DEE-ANN DURBIN | Posted 05.25.2011

Read More: Auto Loans, Car Sales, Lease, Low Credit Scores, Car Financing, Experian, Car Loans, Auto Loan Subprime, Subprime Loans, Business News

DETROIT — Consumers with less than stellar credit are getting car loans again as lenders loosen their standards, and the trend is likely to cont...

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Big Fails: FDIC Names 2010 Worst Year For Banks Since 1992

washingtonpost.com | David S. Hilzenrath | Posted 05.25.2011

Read More: Bank Failure, Bank Failures, Subprime Mortgages, Fdic, Bank of America, Subprime Mortgage Crisis, Banks, Subprime Loan Crisis, Subprime Loans, Bank Fail, Too Big to Fail, Recession, Mortgage Crisis, Business News

More banks failed in the United States this year than in any year since 1992, during the savings-and-loan crisis, according to the Federal Deposit Ins...

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Mortgage Fraud Summit Reveals Both Systemic Fraud and FBI's Seeming Blind Eye

Suzanne O'Keeffe | Posted 05.25.2011

Read More: Fdic, Loan Modifications, Mortgage Modification, Mortgage Crisis, Mortgage Fraud, Banking Crisis, Fbi, Subprime Loans, Foreclosure Fraud, Business News

To combat mortgage and foreclosure fraud, we first need to understand the nature of the fraud. There are the small-potato schemes -- the loan modifica...

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How Sex, Drugs, and Fraud Drove the Financial Crisis

Michael W. Hudson | Posted 05.25.2011

Given the current robosigning, document-backdating foreclosure crisis, it's worth thinking about what happens when fraud and recklessness go unchecked. Here it is in the words of Wall Street's finest.

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16 Cents on the Dollar: Doing the Math on Angelo Mozilo's Big Settlement

Michael W. Hudson | Posted 05.25.2011

Read More: Bank of America, Sec, Settlement, Insider Trading, The Monster, Center for Public Integrity, Countrywide Financial, Angelo Mozilo, Securities and Exchange Commission, Subprime Loans, Business News

Though Mozilo's company came late to the subprime party, its size and clout deepened the pain visited upon individual home owners and the entire financial system. So did he get off too easy?

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Crime Pays: The SEC's Slap on the Wrist for Angelo Mozilo

David Callahan | Posted 05.25.2011

Read More: Sec, Securities Fraud, Insider Trading, Countrywide Financial, Subprime Mortgage Crisis, Mortgage Crisis, Financial Crisis, Housing Crisis, Angelo Mozilo, Subprime Loans, Business News

Let's say a business leader makes hundreds of millions of dollars through criminal practices that end up wiping out the wealth of myriad homeowners an...

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Can Subprime Loans Save Government-Owned GM ?

nytimes.com | ANDREW ROSS SORKIN | Posted 05.25.2011

Read More: Auto Loans, Andrew Ross Sorkin, GM IPO, Subprime Loans, Americredit, GM Subprime, Business News

That helps explain the timing of General Motors' biggest deal since it emerged from bankruptcy in July 2009. Two weeks ago, the company agreed to buy ...

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Citigroup Will Pay SEC $75 Million To Settle Subprime Charges

AP | MARCY GORDON | Posted 05.25.2011

Read More: Subprime Mortgage Market, Sec, Subprime Mortgages, Subprime Loans, Securities and Exchange Commission, New York Stock Exchange, Citigroup, Business News

WASHINGTON — Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from...

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Let's Stop Talking Down the Economy

John Hope Bryant | Posted 05.25.2011

Read More: Richard Hartnack, Predatory Lending, Subprime Mortgages, Financial Literacy, Subprime Mortgage Crisis, Operation Hope, Subprime Loans, Fanny Mae, John Hope Bryant, Love Leadership: The New Way to Lead in a Fear-Based World, Business News

Today, many are calling for the end to subprime lending, and this would be wrong. Responsible subprime lending has done more to lift poor people out of poverty than anything else in the last 50 years.

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