While the development of the subprime market has made homeownership available to those that otherwise would not qualify, borrowers that may qualify for prime loans are often steered into subprime loans. This type of behavior can sometimes lead to unscrupulous lending practices... Showed first 250 characters
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This type of behavior can sometimes lead to unscrupulous lending practices. For many years, the mortgage industry classified borrowers as either “A” paper or “B” paper. This classification actually did separate lending into credit challenged or not. Prime lending was more reserved for banking which provided short term, revolving construction or equity loans... Showed next 250 characters
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Lenders make funds available to borrowers through a primary market. This is where lenders originate the loans and the borrower can see the source of the mortgage loan money is the primary market...
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The subprime crisis in the US and the recession in the US
The subprime concept
Anyone with a bad history with respect to repayment of loans is tagged by the US and thereby he cannot get loans(in any form) from any Government agency in US...
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Subprime mortgage crisis
What is a subprime loan? Subprime loans are unconventional loans designed to put as many people as possible in a home or to refinance an existing home regardless of the borrowers’ credit history...
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The main problem with subprime mortgages is that most average people do not understand the terminology involved with it, therefore causing them to fall into a disaster that they did not see coming...
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The subprime crisis is one of the biggest disasters of the financial system. It originated in the US subprime mortgage market in 2006 and within a year it engulfed the financial sector of USA along with numerous mature economies...
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subprime mortgage crisis
The subprime mortgage crisis is foreclosures of the U.S housing market which began in late 2006 until present day. Prior to 2006, the housing market seemed to be going up for long time...
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There's No Place Like a Cardboard Box: Predatory Lending and the Community of St. Albans
During a February 2004 testimony on Capitol Hill, David G. Wood, Director of Financial Markets and Community Investments for the Committee on Senate Special Aging, defined predatory lending as:
?a range of practices, including charging excessive fees and interest rates, making loans without regard to borrowers' ability to repay, or refinancing loans repeatedly over a short period of time without any economic gain for the borrower...