An investigation out today from the Center for Public Integrity details the nearly $370 million spent by top subprime lenders over the past decade to fend off regulation in Washington. While that’s disturbing enough, the study make clear that some of the major banks being bailed out by taxpayers More…
The Mortgage Bankers Association recently joined the chorus of those worried about the Federal Housing Administration’s growing role in the housing market, the Orange County Register’s Mortgage Insider reports. Due to the mortgage meltdown and the demise of subprime lenders, the FHA’s share of the housing market already has More…
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 More…
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 More…
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