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subprime mortgage lenders list - News

Consumer Reporting Data
Consumer Reporting Agencies. Below is a list of consumer reporting companies – companies that collect information and provide reports on consumers that are used to decide whether to provide consumers credit, insurance, or employment, and for other

Book in a Volatile Market
The truth, according to the whistle-blower who has personally cancelled more than 200 mortgages because of LAF manipulation, is that the banks teach the brokers how to manipulate the LAFs to get loans past lending standards. The British inquiry If

What the new mortgage rules mean for you
The new rules are designed to take a "back to basics" approach to mortgage lending and lower the risk of defaults and foreclosures among borrowers, according to the Consumer Financial Protection Bureau, which issued the new rules. "No debt traps. No

CFPB Directors Cordray's Prepared Remarks on Housing Market Reform
The list is long, so bear with me – we take complaints about mortgages, credit cards, bank accounts, student loans, auto loans, credit reporting, debt collection, consumer loans, money transfers, and payday loans. Each perceived grievance is a chance

The Collapse of the Mortgage Lending Industry

This video is a list of US mortgage lenders who have closed or otherwise exited the mortgage lending business since late 2006.

Wells Fargo dips toe into RMBS for first time in a decade

Prior to the 2008 financial crisis, Wells Fargo was one of the top RMBS lenders, selling more than $1 trillion worth of mortgages in both 2005 and 2006. But with shoddy subprime mortgage-backed securities contributing to the financial meltdown in 2008, investors fled the instruments in droves.

Shoddy RMBS practices were added to Wells Fargo’s already-long list of scandals in August, when the bank agreed to pay a penalty of about $2 billion to the Department of Justice for allegedly misrepresenting the quality of its mortgage bonds during the run-up to the financial crisis.

Now, after a long time in the financial wilderness, mortgage bonds are coming back into favor, Nasdaq reported. The private RMBS market has reached a post-crisis high of $75 billion so far this year, and there are no indications that demand is ebbing.

Wells Fargo, however, still faces challenges. A federal regulator recently expressed dissatisfaction about the bank’s progress in measuring the financial harm it caused to customers who were charged for unnecessary auto insurance, and Wells Fargo’s CEO, Tim Sloan, and its chairwoman, Betsy Duke, are likely to be called before Congress soon to testify about the bank’s performance over the last year, Nasdaq reported.

BankThink Washington keeps failing to rein in banker pay

Ten years ago, Wall Street crashed the economy after some bankers committed massive fraud so they could pocket billions in bonuses.

Since then, here’s the number of senior bankers imprisoned for this fraud: zero.

And how much success has Washington had in reforming misplaced pay incentives that drove the fraud? Also zero.

One trader at Goldman Sachs last year made $100 million . The chief executive of Wells Fargo got a $15 million bonus and $17.4 million in total pay, despite ongoing misconduct by the wayward behemoth. This week, the New York State Department of Labor reported that average pay for New York City broker-dealers rose more than 10% to $422,500 in 2017.

A report from Public Citizen and the Institute for Policy Studies published in April found that among the largest four megabanks — JPMorgan, Bank of America, Wells Fargo and Citigroup — the average pay ratio between executives and workers in 2017 was 319-to-1. A typical employee would have to work a full year before earning as much as the chief executive pockets in a single day.

Can you list the reasons you think houses prices went up so high during the housing bubble?

I can think of: 1) the govt manipulating interest rates and keeping them low for all those years after 9/11.

The Bush family has been stealing money from real estate for a long time, and they manipulate the market to make it easier for people to get loans so they can be foreclosed upon later.

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