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August 21, 2008 7:26:35 PM CDT

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Stories related to: lending practices

Stories

7 Stories

  • August 2008

    • Bank Ads Helped Spin 2nd Mortgages

      New York Times  |  Aug 15, 08 11:59 AM CDT

      Bank Ads Helped Spin 2nd Mortgages

      (Newser) - Until recently, borrowing against one's home was considered a desperate measure, but now it's commonplace. Since the 1980s, outstanding home-equity loans—once called second mortgages—have exploded a thousandfold to more than $1 trillion. The New York Times looks at how banks waged a concerted advertising campaign to transform Americans' attitude toward debt, enriching themselves while leading homeowners to financial ruin. More »

      Tags

      advertising  • debt  • home equity  • mortgage debt  • lending practices  • home equity loans

    • More Lenders Dropping Student Loans

      Wall Street Journal  |  Aug 11, 08 8:18 AM CDT

      More Lenders Dropping Student Loans

      (Newser) - Continuing turmoil in credit markets has prompted more private lenders to cut back or eliminate education loans, leaving thousands of student borrowers without the cash they need for college, reports the Wall Street Journal. Last week Wachovia joined more than 2 dozen banks that have cut funds available to students, as investors have backed away from the notes they use to raise capital. More »

      Tags

      credit crisis  • Wachovia  • student loans  • lending practices  • college loans

  • July 2008

    • Feds Seize Failed IndyMac Bank

      Wall Street Journal  |  Jul 11, 08 7:03 PM CDT

      Feds Seize Failed IndyMac Bank

      (Newser) - As mortgage lenders Freddie Mac and Fannie Mae crowded the headlines today, Washington snatched up IndyMac Bank in the second-largest US bank failure in history, the Wall Street Journal reports. The Pasadena, Calif. savings and loan, which owns about $32 billion in assets, saw stocks fall from $45 last year to 28 cents this week as mortgage defaults piled up. It will reopen Monday under federal supervision. More »

      Tags

      mortgage crisis  • takeover  • IndyMac  • bank regulation  • lending practices  • FDIC  • Federal Deposit Insurance Corp.

  • June 2008

    • New Wave of Foreclosures Expected in '09

      BusinessWeek  |  Jun 7, 08 10:44 AM CDT

      New Wave of Foreclosures Expected in '09

      (Newser) - America’s subprime victims may have grudgingly accepted their fate, but there’s a new class of borrowers primed to suffer, BusinessWeek reports. Homeowners who took out ARMs, or adjustable rate mortgages, will soon face skyrocketing payments as their loans reset. About a million people have the mortgages, but only a small number have already fallen due. “It's a ticking time bomb inside your house that you can't get rid of,” one insider said. More »

      Tags

      US economy  • housing market  • foreclosure  • debt  • home sales  • subprime mortgage crisis  • homeownership  • lending practices  • adjustable-rate mortgages

  • April 2008

    • Mortgage Biz Battles Fed Reforms

      New York Times  |  Apr 28, 08 7:05 AM CDT

      Mortgage Biz Battles Fed Reforms

      (Newser) - As the Federal Reserve moves toward stricter lending rules, mortgage providers are firing back, calling the rules too broad and arguing that they could limit loans to borrowers who don't have credit problems, the New York Times reports. Regulation, bankers say, could raise the price of mortgages by increasing paperwork and the risk of lawsuits. The outcry has pushed the Fed to consider narrowing the number of mortgages the rules would apply to. More »

      Tags

      Federal Reserve  • mortgage  • subprime mortgage crisis  • mortgage lender  • lending practices  • bankers

  • February 2008
  • December 2007

7 Stories

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