subprime lending

Instead of a national foreclosure moratorium – an idea that has the support of President-elect Barack Obama – homeowners in trouble should just accept foreclosures and move on, lending industry insiders say. Their comments come from Housing Wire, which cited an industry survey quoting lenders as saying a national moratorium would have dire consequence for [...]

One of the long-held beliefs about subprime mortgages is that they had a positive side, extending credit to non-traditional buyers and increasing minority homeownership rates. But in a new research paper (pdf),  the Boston Federal Reserve takes a closer look at foreclosures in Massachusetts. In a remarkable finding, researchers say that widely-held assumption simply isn’t [...]