Posts Tagged ‘subprime’

Hundreds of brokers netted in FBI sweep Arrests include two former Bear fund execs charged with fraud | MSNBC

Former Bear hedge fund managers surrender Ralph Cioffi and Matthew Tannin, who managed Bear Stearns hedge funds before the subprime collapse, charged with lying to investors about mortgage market risk. | CNN Money

Government Foreclosure Rescue Plans are in the Works | Queercents

Anatomy of a Meltdown: The Credit Crisis | Washington Post

Apparently it is the reduced availability of credit. Think of it as the natural consequence of the overabundance of credit that tanked our economy in the first place. And it may last for a couple of years.
Consider this a good reason to move your finances to a cash model.
Experts: ‘Credit recession’ could last two years [...]

Tracy Warren was a quality-control consultant for Bear Stearns and other mortgage security purchasers on Wall Street. Her job was to review mortgage loans to determine whether they had merit for investment purposes. (She saw the loans after they were made, but before they were sold to investors and led to the national economy’s crash-and-burn [...]

The Subprime Borrower Relief Act gives borrowers with subprime loans the right to defer a foreclosure sale of their residence for one year after the bill becomes law.

I was amused to read Mark Ireland’s post saying he came under fire by members of a panel on foreclosures at the recent Equal Justice Conference in Minneapolis for suggesting that mortgage loan servicers are not acting in the best interest of either consumers or lenders. I thought that was common knowledge.
Servicers make money from [...]

Here are the blog posts I starred in Google Reader last week. (If you use Google Reader, you can subscribe to my shared items.)

The Alphonso Jackson Legacy. Mark Ireland comments on the Washington Post’s look at the legacy of HUD chief (and Bush appointee) Alphonso Jackson. While Jackson oversaw the government body in charge of [...]

“Securitization” is a hot word in money circles, but I don’t think many people outside of Wall Street know what securitization is or what it means. The Wikipedia entry on securitization is very good, but a bit technical. I think I can boil it down a bit more.
Any asset can be securitized. One asset we [...]