Practices

Should lenders who use abusive or unfair lending practices be punished?

May 142011

these are just some examples
Failure to disclose loan price is negotiable
Failure to clearly and accurately disclose terms and conditions
Servicing agent and securitization abuses (The servicing agent is the entity that receives the mortgage payment, keeps the payment records, provides borrowers with account statements, imposes late charges when the payment is late, and pursues delinquent borrowers. A securitization is a financial transaction in which assets, especially debt instruments, are pooled and securities representing interests in the pool are issued)

now it is our responsiblity to read everything on the loan document do you think the lenders should be punished for the way they do business?
oh I agree now isn’t the time, I just mean in general

http://en.wikipedia.org/wiki/Predatory_lending

Why Obama Administration FHA continue the same practices of subprime, Wall Street?

Mortgage Loan 1 Response »

May 032011

The government agency that the FHA or Federal Housing Administration announced the largest mortgage insurers in the world. FHA insures loans from their lenders approved for a mortgage loan tailored to the regions of $ 729,750 on single-family houses with a deposit as low as 3.5%. is on his site, FHA: “Unlike traditional loans, strict [...]

Question about the mortgage crisis and bank lending practices?

Mortgage Loan 12 Responses »

Feb 192011

I keep hearing that banks are responding to the mortgage mess they helped create with “loose lending” by tightening up credit standards to the point where you practically have to be Warren Buffet to qualify for a loan these days… First of all, is this true? And secondly, if indeed the pendulum has swung to [...]

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