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Author : Deborah Goldstein
Publisher :
ISBN 13 :
Total Pages : 90 pages
Book Rating : 4.F/5 ( download)
Download or read book Understanding Predatory Lending written by Deborah Goldstein and published by . This book was released on 1999 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 2 pages
Book Rating : 4.:/5 (746 download)
Download or read book Understanding Predatory Lending written by and published by . This book was released on 2009 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gregory D. Squires
Publisher : Bloomsbury Publishing USA
ISBN 13 : 0313067902
Total Pages : 249 pages
Book Rating : 4.3/5 (13 download)
Download or read book Why the Poor Pay More written by Gregory D. Squires and published by Bloomsbury Publishing USA. This book was released on 2004-10-30 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proverbial American dream of owning a home has become an all-too-real nightmare for a growing number of families. The most vulnerable segments of our society—including minorities, the elderly, and working families—are being victimized by financiers who lure them into commitments they cannot fulfill. Collectively known as predatory lending, these practices include offering higher interest rates than can be justified by the risk, high pre-payment penalties that lock families into exploitative loans, and monstrous balloon payments that often result in default and the loss of the home. The net result can be disastrous: damage to one's credit rating, bankruptcy, and even the loss of lifelong savings. Why the Poor Pay More is an incisive exposure of these practices: how they have evolved, why they have become so prevalent in recent years, and how their negative effects can be quantified. It features in-depth analysis from prominent scholars, legal experts, and community leaders, who shed new light on the social, political, and economic consequences of predatory lending. Why the Poor Pay More is much more than an indictment of these insidious discriminatory practices. It is a call to arms for anyone concerned about how the financial-political system can be corrupted to serve the needs of the wealthy. Highlighting community initiatives already underway to combat predatory lending and an extensive listing of practical resources, Why the Poor Pay More outlines active roles that individuals, advocacy groups, financial and legal service providers, and policymakers can play in reversing this destructive trend.
Author : Charles R. Geisst
Publisher : Brookings Institution Press
ISBN 13 : 0815729014
Total Pages : 275 pages
Book Rating : 4.8/5 (157 download)
Download or read book Loan Sharks written by Charles R. Geisst and published by Brookings Institution Press. This book was released on 2017-04-04 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Predatory lending: A problem rooted in the past that continues today. Looking for an investment return that could exceed 500 percent annually; maybe even twice that much? Private, unregulated lending to high-risk borrowers is the answer, or at least it was in the United States for much of the period from the Civil War to the onset of the early decades of the twentieth century. Newspapers called the practice “loan sharking” because lenders employed the same ruthlessness as the great predators in the ocean. Slowly state and federal governments adopted laws and regulations curtailing the practice, but organized crime continued to operate much of the business. In the end, lending to high-margin investors contributed directly to the Wall Street crash of 1929. Loan Sharks is the first history of predatory lending in the United States. It traces the origins of modern consumer lending to such older practices as salary buying and hidden interest charges. Yet, as Geisst shows, no-holds barred loan sharking is not a thing of the past. Many current lending practices employed today by credit card companies, payday lenders, and providers of consumer loans would have been easily recognizable at the end of the nineteenth century. Geisst demonstrates the still prevalent custom of lenders charging high interest rates, especially to risky borrowers, despite attempts to control the practice by individual states. Usury and loan sharking have not disappeared a century and a half after the predatory practices first raised public concern.
Author : Janis Sarra
Publisher : Cambridge University Press
ISBN 13 : 1108853331
Total Pages : 329 pages
Book Rating : 4.1/5 (88 download)
Download or read book Predatory Lending and the Destruction of the African-American Dream written by Janis Sarra and published by Cambridge University Press. This book was released on 2020-07-09 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Great Recession of 2008, the racial wealth gap between black and white Americans has continued to widen. In Predatory Lending and the Destruction of the African-American Dream, Janis Sarra and Cheryl Wade detail the reasons for this failure by analyzing the economic exploitation of African Americans, with a focus on predatory practices in the home mortgage context. They also examine the failure of reform and litigation efforts ostensibly aimed at addressing this form of racial discrimination. This research, augmented by first-hand narratives, provides invaluable insight into the racial wealth gap by vividly illustrating the predation that targets African-American consumers and examining the intentionally obfuscating settlement terms of cases brought by the U.S. Department of Justice, states attorneys, and municipalities. The authors conclude by offering structural, systemic changes to address predatory practices. This important work should be read by anyone seeking to understand racial inequality in the United States.
Author : United States. General Accounting Office
Publisher :
ISBN 13 :
Total Pages : 132 pages
Book Rating : 4.F/5 ( download)
Download or read book Consumer Protection written by United States. General Accounting Office and published by . This book was released on 2004 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Deborah Goldstein
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.:/5 (431 download)
Download or read book Understand Predatory Lending written by Deborah Goldstein and published by . This book was released on 1999 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Charles R. Geisst
Publisher : Brookings Institution Press
ISBN 13 : 0815729014
Total Pages : 275 pages
Book Rating : 4.8/5 (157 download)
Download or read book Loan Sharks written by Charles R. Geisst and published by Brookings Institution Press. This book was released on 2017-04-04 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Predatory lending: A problem rooted in the past that continues today. Looking for an investment return that could exceed 500 percent annually; maybe even twice that much? Private, unregulated lending to high-risk borrowers is the answer, or at least it was in the United States for much of the period from the Civil War to the onset of the early decades of the twentieth century. Newspapers called the practice “loan sharking” because lenders employed the same ruthlessness as the great predators in the ocean. Slowly state and federal governments adopted laws and regulations curtailing the practice, but organized crime continued to operate much of the business. In the end, lending to high-margin investors contributed directly to the Wall Street crash of 1929. Loan Sharks is the first history of predatory lending in the United States. It traces the origins of modern consumer lending to such older practices as salary buying and hidden interest charges. Yet, as Geisst shows, no-holds barred loan sharking is not a thing of the past. Many current lending practices employed today by credit card companies, payday lenders, and providers of consumer loans would have been easily recognizable at the end of the nineteenth century. Geisst demonstrates the still prevalent custom of lenders charging high interest rates, especially to risky borrowers, despite attempts to control the practice by individual states. Usury and loan sharking have not disappeared a century and a half after the predatory practices first raised public concern.
Author : Richard Lord
Publisher :
ISBN 13 :
Total Pages : 250 pages
Book Rating : 4.:/5 (321 download)
Download or read book American Nightmare written by Richard Lord and published by . This book was released on 2005 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Homeowners who can't borrow from banks have long turned to the subprime lending industry for mortgages. Increasingly, that industry has turned on them by charging outrageous fees and usurious interest, and then taking their homes through foreclosure. Richard Lord explores the spread of predatory lending practices. And it tells the stories of borrowers who've been taken, contractors and brokers who've been co-opted, lenders who've cheated--and the world's biggest financial titans, who've cashed in. A battle is taking shape that could determine whether home ownership for working people will be an achievable dream or an American nightmare. Richard Lord is a writer for the "Pittsburgh City Paper" whose work on subprime lending has won numerous awards.
Author : Morgan J. Rose
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Foreclosures of Subprime Mortgages in Chicago written by Morgan J. Rose and published by . This book was released on 2006 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher :
ISBN 13 :
Total Pages : 502 pages
Book Rating : 4.:/5 (51 download)
Download or read book Predatory Mortgage Lending written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2002 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. Senate. Special Committee on Aging
Publisher :
ISBN 13 :
Total Pages : 310 pages
Book Rating : 4.:/5 (327 download)
Download or read book Predatory Lending written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 2004 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Adam B. Ashcraft
Publisher : DIANE Publishing
ISBN 13 : 1437925146
Total Pages : 76 pages
Book Rating : 4.4/5 (379 download)
Download or read book Understanding the Securitization of Subprime Mortgage Credit written by Adam B. Ashcraft and published by DIANE Publishing. This book was released on 2010-03 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.
Author : United States. Congress. Joint Economic Committee
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (327 download)
Download or read book Predatory Lending and Reverse Redlining written by United States. Congress. Joint Economic Committee and published by . This book was released on 2010 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher : DIANE Publishing
ISBN 13 : 1428935029
Total Pages : 127 pages
Book Rating : 4.4/5 (289 download)
Download or read book Consumer protection federal and state agencies face challenges in combating predatory lending : report to the Chairman and Ranking Minority Member, Special Committee on Aging, U.S. Senate. written by and published by DIANE Publishing. This book was released on with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher :
ISBN 13 :
Total Pages : 268 pages
Book Rating : 4.:/5 (327 download)
Download or read book Preserving the American Dream written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2009 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kathleen C. Engel
Publisher :
ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (129 download)
Download or read book A Tale of Three Markets written by Kathleen C. Engel and published by . This book was released on 2012 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: Predatory lending - the practice of making exploitative high-cost loans to naive borrowers - has spurred policy-makers, activists, lenders and scholars to debate whether intervention is warranted and, if so, what type of intervention is appropriate. The solution requires understanding the incentives in the home mortgage market that have fueled predatory lending. Recent changes in the credit market have created new possibilities for lenders to profit by exploiting information asymmetries to the detriment of unsophisticated borrowers. As a result, a new, predatory lending market has emerged alongside the legitimate prime and subprime home mortgage markets. Neither market forces nor existing legal remedies are sufficient to correct predatory lending. Instead, government intervention is needed. The authors propose a new, narrowly tailored remedy - suitability - that would require predatory lenders to internalize the costs of the harm they cause.
