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Non Prime Mortgages
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Book Synopsis Non-Prime Mortgages by : William B. Shear
Download or read book Non-Prime Mortgages written by William B. Shear and published by DIANE Publishing. This book was released on 2011 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. The surge in mortgage foreclosures that began in late 2006 and continues today was initially driven by deterioration in the performance of non-prime loans. Non-prime mortgage originations increased dramatically from 2000 through 2006, rising from 12% of all mortgage originations to 34%. The non-prime market contracted sharply in mid-2007, in response to increasing defaults and foreclosures for these loans. This report: (1) provides info. on the performance of non-prime loans through 12/31/09; (2) examines how loan and borrower characteristics and economic conditions influenced the likelihood of default of non-prime loans; and (3) describes the features of data on non-prime loan performance and borrower characteristics. Illus.
Book Synopsis Characteristics and Performance of Nonprime Mortgages by : William B. Shear
Download or read book Characteristics and Performance of Nonprime Mortgages written by William B. Shear and published by DIANE Publishing. This book was released on 2010 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: In dollar terms, nonprime loans accounted for an increasing share of the overall mortgage market, rising from 12% in 2000 to 34% in 2006. Over this period, the dollar volume of nonprime mortgages originated annually climbed from $100 billion to $600 billion in the subprime market. However, these market segments contracted sharply in the summer of 2007. This report examines the evolution and condition of the nonprime market segment. It discusses: (1) trends in the loan and borrower characteristics of nonprime mortgages originated from 2000 through 2007; and (2) the performance of these mortgages as of March 31, 2009. It also provides supplemental info., including detailed statistics by annual loan cohort, state, and congressional district. Illustrations.
Book Synopsis Loan Performance and Negative Home Equity in the Non-Prime Mortgage Market by : William B. Shear
Download or read book Loan Performance and Negative Home Equity in the Non-Prime Mortgage Market written by William B. Shear and published by DIANE Publishing. This book was released on 2010-10 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The number of nonprime mortgage originations grew rapidly from 2000 through 2006, a period during which average house prices appreciated dramatically. The nonprime share of mortgage originations rose from 12% in 2000 to 34% in 2006. As house prices subsequently fell, the subprime and Alt-A market segments contracted sharply. Borrowers who had obtained nonprime mortgages earlier in the decade increasingly fell behind on their mortgage payments. This report: (1) provides info. on the performance of these nonprime loans as of 6/30/09, and describes forecasts made by others of future loan performance; and (2) examines the extent of negative home equity among nonprime borrowers in selected metro. areas and nationwide.
Book Synopsis Understanding the Securitization of Subprime Mortgage Credit by : Adam B. Ashcraft
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.
Book Synopsis Nonprime Mortgages :. by : United States. Government Accountability Office
Download or read book Nonprime Mortgages :. written by United States. Government Accountability Office and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Nonprime Mortgage Crisis and Positive Feedback Lending by : Bernard S. Black
Download or read book The Nonprime Mortgage Crisis and Positive Feedback Lending written by Bernard S. Black and published by . This book was released on 2018 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “great recession” of 2007-2009 was sparked by a bubble in U.S. housing prices, driven in turn by a bubble in nonprime mortgage lending. We collect evidence that the risk of a nonprime housing bubble (not the certainty, but a meaningful risk) should have been obvious to the main participants in the markets for nonprime lending and related mortgage-backed securities (nonprime MBS), including originators, securitizers, rating agencies, money managers, and institutional investors. Those who did not see the risk were, in many cases, willfully blind. We also discuss the strong positive feedback nature of typical nonprime mortgages. This positive feedback made it highly likely that, if nonprime housing prices flattened, let alone fell, they would soon crash and take many nonprime MBS with them. We discuss regulatory responses that might limit positive feedback lending, cause the next bubble to be smaller and less likely, and make the post-bubble aftermath less painful.
Book Synopsis Characteristics and Performance of Nonprime Mortgages by : William B. Shear
Download or read book Characteristics and Performance of Nonprime Mortgages written by William B. Shear and published by . This book was released on 2009 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States Government Accountability Office Publisher :Createspace Independent Publishing Platform ISBN 13 :9781976426339 Total Pages :58 pages Book Rating :4.4/5 (263 download)
Book Synopsis Characteristics and Performance of Nonprime Mortgages by : United States Government Accountability Office
Download or read book Characteristics and Performance of Nonprime Mortgages written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-15 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Characteristics and performance of nonprime mortgages
Download or read book Financial Shock written by Mark Zandi and published by FT Press. This book was released on 2008-07-09 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The obvious place to start is the financial crisis and the clearest guide to it that I’ve read is Financial Shock by Mark Zandi. ... it is an impressively lucid guide to the big issues.” – The New York Times “In Financial Shock, Mr. Zandi provides a concise and lucid account of the economic, political and regulatory forces behind this binge.” – The Wall Street Journal “Aggressive builders, greedy lenders, optimistic home buyers: Zandi succinctly dissects the mortgage mess from start to (one hopes) finish.” – U.S. News and World Report “A more detailed look at the crisis comes from economist Mark Zandi, co-founder of Moody's Economy.com. His “Financial Shock” delves deeply into the history of the mortgage market, the bad loans, the globalization of trashy subprime paper and how homebuilders ran amok. Zandi's analysis is eye-opening. ... he paints an impressive, more nuanced picture.” – Kiplinger's Personal Finance Magazine “If you wonder how it could be possible for a subprime mortgage loan to bring the global financial system and the U.S. economy to its knees, you should read this book. No one is better qualified to provide this insight and advice than Mark Zandi.” –Larry Kudlow, Host, CNBC’s Kudlow & Company “Every once in a while a book comes along that’s so important, it commands recognition. This is one of them. Zandi provides a rilliant blow-by-blow account of how greed, stupidity, and recklessness brought the first major economic crises of the 21st entury and the most serious since the Great Depression.” –Bernard Baumohl,Managing Director, The Economic Outlook Group and best-selling author, The Secrets of Economic Indicators “Throughout the financial crisis Mark Zandi has played two important roles. He has insightfully analyzed its causes and thoughtfully recommended steps to alleviate it. This book continues those tasks and adds a third–providing a comprehensive and comprehensible explanation of the issues that is accessible to the general public and extremely useful to those who specialize in the area.” –Barney Frank, Chairman, House Financial Services Committee The subprime crisis created a gigantic financial catastrophe. What happened? How did it happen? How can we prevent similar crises from happening again? Mark Zandi answers all these critical questions–systematically, carefully, and in plain English. Zandi begins with a fast-paced overview and then illuminates the deepest causes, from the psychology of homeownership to Alan Greenspan’s missteps. You’ll see the home “flippers” at work and the real estate agents who cheered them on. You’ll learn how Internet technology and access to global capital transformed the mortgage industry, helping irresponsible lenders drive out good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide deepening risks, shows how global investors eagerly bought in, and explains how flummoxed regulators failed to prevent disaster, despite crucial warning signs. Most important, Zandi offers indispensable advice for investors who must recognize emerging bubbles, policymakers who must improve oversight, and citizens who must survive whatever comes next. Liar’s loans, flippers, predatory lenders, delusional homebuilders How the housing market came unhinged, and the whirlwind came together Alan Greenspan’s trillion-dollar bet Betting on the boom, ignoring the bubble The subprime market goes global Worldwide investors get a piece of the action–and reap the results Wall Street’s alchemists: conjuring up Frankenstein New financial instruments and their hidden contents Back to the future: risk management for the 21st century Respecting the “animal spirits” that drive even the most sophisticated markets
Book Synopsis An Insider's Guide to Non-QM by : Fernando Zoota
Download or read book An Insider's Guide to Non-QM written by Fernando Zoota and published by . This book was released on 2018-06-04 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Make more money now offering non-QM mortgages to your customers! As a mortgage loan originator, you're directly influenced by rising interest rates. As interest rates increase, loan originations decrease. In other words, your paycheck is shrinking. Making less money is no fun. Personally, it's frustrating, but it can also put a huge strain on the household. If this sounds like you and you're willing to work, there is an opportunity to turn things around.An Insider's Guide to Non-QM is written for the mortgage professional with little to no experience with non-qualified mortgages. It simplifies a subject that many mortgage professionals find intimidating. By reading the book, you'll learn:¿ How to grow your business by offering non-QM loans¿ What products are available¿ How to choose the best lender and account executive¿ The most common guideline questions¿ How to successfully submit a loan¿ The best source for potential new businessThe author, Fernando Zoota, is the son of a well-respected banking executive and non-prime lending has been an integral part of his entire life. With a professional career spanning the past sixteen years, he's seen the highs and dramatic lows in wholesale residential lending. His keen insight and knowledge make him specifically qualified to write this book. In addition to being an author, Fernando is an Account Executive for one of the nation's top wholesale non-QM lenders.
Author :United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity Publisher : ISBN 13 : Total Pages :408 pages Book Rating :4.0/5 ( download)
Book Synopsis Subprime Lending by : United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity
Download or read book Subprime Lending written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2004 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Predatory Lending and the Destruction of the African-American Dream by : Janis Sarra
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: Examines predatory practices in mortgage markets to provide invaluable insight into the racial wealth gap between black and white Americans.
Book Synopsis Mortgages For Dummies by : Eric Tyson
Download or read book Mortgages For Dummies written by Eric Tyson and published by John Wiley & Sons. This book was released on 2008-11-17 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Need a mortgage but worried about the market? In Mortgages For Dummies, 3rd Edition, bestselling authors Eric Tyson and Ray Brown give you proven solutions for obtaining a mortgage, whether you want to buy your first home, refinance, or tap into your equity. You get the latest on sub-prime and adjustable-rate mortgages, finding the best lender, avoiding fiscal pitfalls and foreclosure, and much, much, more! This easy-to-understand, objective, and jargon-free guide helps you fine-tune your finances, figure out what you can afford, and improve your credit score before you go mortgage shopping. You’ll get familiar with the advantages and disadvantages of fixed- and adjustable-rate mortgages, 15- and 30-year loans, and conforming and jumbo packages. You also get help finding and working with reputable professionals, comparing programs, and securing terms you can live with. Discover how to: Match your mortgage to your financial goals Qualify for a mortgage even when money is tight Find the right loan for you Choose the best lender/broker Negotiate the best terms Calculate your costs and payments Understand and complete all paperwork Refinance an existing mortgage Understand and consider special situation loans Explore reverse mortgages and other options Decipher amortization tables and comparison worksheets Use the Internet wisely when mortgage shopping Now, more than ever, you need clear, reliable information that helps you get the mortgage you need at a price you can afford. You need Mortgages For Dummies, 3rd Edition!
Book Synopsis Policy Incentives and the Extension of Mortgage Credit by : Xudong An
Download or read book Policy Incentives and the Extension of Mortgage Credit written by Xudong An and published by . This book was released on 2008 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lax underwriting in non-prime mortgage markets is widely perceived as one cause of the recent difficulties in the housing market. Policy makers are currently considering moves such as enforcing more careful underwriting to provide additional discipline to mortgage markets. This research explores the possibility of another approach to supplement or replace some of these efforts, namely the use of policy to create incentives for Fannie Mae and Freddie Mac (together, the GSEs) to help 'check' behavior in non-prime markets. It relies on the hypothesis that the affordable housing goals established through the GSE Act have been effective incentives for GSEs to increase their loan purchases, and that borrowers shift from subprime to prime loans and such a substitution benefit those households receiving prime mortgages rather than the higher cost subprime loans.We conduct empirical analysis regarding the hypothesis that increased GSE purchase activities make subprime lending less salient. Our results confirm the negative relationship between the growth in GSE market share and the growth in subprime market share over time, and that the impact of the GSEs on subprime lending tends to be stronger in high minority neighborhoods, where subprime lending has been concentrated and growing the fastest. Simulations show that a ten percent increase in GSE market share (e.g. from 20% to 22%) can cause 26,000 borrowers using prime instead of subprime loans, at a cost savings of about $1 billion. Our empirical results strongly support the concept that significant efficiency and equity gains can be achieved through appropriate regulatory structure.
Book Synopsis A Comprehensive Guide to Non-Qualified Mortgages by : Fernando Zoota
Download or read book A Comprehensive Guide to Non-Qualified Mortgages written by Fernando Zoota and published by . This book was released on 2022-01-31 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: You don't know what you are talking about, do you? I get it, you have been in the mortgage industry for a long time. You've probably made a lot of money. However, this isn't conventional lending, and this certainly isn't sub-prime. This is non-qualified mortgages, more commonly known as non-QM. Sure, you've heard the name, but if you're honest with yourself, you don't really know what it is. It's time for you to learn because non-QM is the future of mortgage lending.A Comprehensive Guide to Non-Qualified Mortgages is the second edition of the highly successful book, An Insider's Guide to non-QM. The first edition is a 101 guide to non-QM, the second edition is a comprehensive education to the lucrative niche know as Non-Qualified Mortgages. In this book you will find:COVID-19 and its effect on the non-QM marketThe Ability-to-Repay rule and how it governs non-QMGetting a warehouse line of creditOperational workflowNon-QM product availabilityTypes of non-QM lenders and their sales staffNon-QM guidelinesUsing bank statements for incomeDebt service loans (DSCR)Submitting a non-QM loanThe secondary marketFinding clients and selling your brandBuy the book now and become an industry knowledge expert.
Book Synopsis A History of Financial Crises by : Cihan Bilginsoy
Download or read book A History of Financial Crises written by Cihan Bilginsoy and published by Routledge. This book was released on 2014-11-27 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Once-in-a-lifetime" financial crises have been a recurrent part of life in the last three decades. It is no longer possible to dismiss or ignore them as aberrations in an otherwise well-functioning system. Nor are they peculiar to recent times. Going back in history, asset price bubbles and bank-runs have been an endemic feature of the capitalist system over the last four centuries. The historical record offers a treasure trove of experience that may shed light on how and why financial crises happen and what can be done to avoid them - provided we are willing to learn from history. This book interweaves historical accounts with competing economic crisis theories and reveals why commentaries are often contradictory. First, it presents a series of episodes from tulip mania in the 17th century to the subprime mortgage meltdown. In order to tease out their commonalities and differences, it describes political, economic, and social backgrounds, identifies the primary actors and institutions, and explores the mechanisms behind the asset price bubbles, crashes, and bank-runs. Second, it starts with basic economic concepts and builds five competing theoretical approaches to understanding financial crises. Competing theoretical standpoints offer different interpretations of the same event, and draw dissimilar policy implications. This book analyses divergent interpretations of the historical record in relation to how markets function, the significance of market imperfections, economic decision-making process, the role of the government, and evolutionary dynamics of the capitalist system. Its diverse theoretical and historical content of this book complements economics, history and political science curriculum.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :268 pages Book Rating :4.3/5 (91 download)
Book Synopsis Preserving the American Dream by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
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:
