Is Any Company Safe from Subprime Related Lawsuits?

RE:Is Any Company Safe from Subprime Related Lawsuits?

Danielle — Mon, 07 Jul 2008 11:00:00 GMT

I like the idea of E&O insurance. Rates based on the present risk instead of some hodgepodge of algorythms, credit scores and need for pocket money! Think about your homeowner's policy. Fifty pages declaring that your home and it's contents will, under no circumstance, be covered! To heck with perils! I will simply state that I omitted the words "Stuck a match" when I put a claim in for the destruction by fire! Or, I erred when I stated that the basement never flooded! Saves a lot of time and I will collect from my cheap skate insurer.

RE:Is Any Company Safe from Subprime Related Lawsuits?

keneth — Thu, 03 Jul 2008 11:00:00 GMT

why are these banks allowed in courts with unclean hands they have stolen and robbed americans blind and then the courts help them further, the summit county courts let them get away with murder someone needs to put a stop to the judicial misconduct that is occuring in favor of big banks, over homeowners.

RE:Is Any Company Safe from Subprime Related Lawsuits?

Justin Tyburski — Tue, 01 Jul 2008 11:00:00 GMT

Mark B, Its no ones fault but the consumer. These lending institutions are giving options to these clients. As a broker there isnt a difference in compensation to the broker, as everyone outside the industry thinks. Consumers need to do their research and stop being lazy. If the government has to now monitor consumer choices then we might as well become a communist nation. We as a nation get ourselves into trouble and always expect the government to bail us out. We need to bring back debtors prison and send people back to 1st grade mathematics. And many people in this nation need a boost of some COMMON SENSE! I almost hate this country. So many stupid people....

RE:Is Any Company Safe from Subprime Related Lawsuits?

mark B — Mon, 30 Jun 2008 11:00:00 GMT

They still have not learned anything These servicing companies (Homeq for one) are taking loan modification customers and adding on late fees, pushing the problem out 5yrs with interest only loans on 1st and 2nds in hope that the market will be back when the loan comes out of its "modification: These borrowers were not qualified on the future payment or the present payment. This is as ileagal as it gets and no one is looking at the servicer. The true problem is the margin which is as high as 6%-7%on top of a even higher index (libor) we are left with mortages that are going to double in 5 yrs because of these practices they will be amortized over 22-23 yrs the marging will be 6% and the index will probably still not change 6%. Why is the government allowing this to happen. we delay some foreclosures but 5 yrs from now thew problem will be huge...

RE:Is Any Company Safe from Subprime Related Lawsuits?

CSCH — Mon, 30 Jun 2008 11:00:00 GMT

Toll Brothers DOES have a mortgage company: TBI Mortgage: tbimortgage.com. Most of the big builders do, and so do many medium sized builders, or at least an "affiliated business arrangement" with a lender, title co's, etc. This is where consumers often get into a predatory lending type trap, when they don't shop around and compare, but just go with what's seemingly convenient. Every builder complaint I've seen where lending was part fo the problem, the buyer used the builder's lender. So complaints nowadays are not just about shoddy construction but shoddy lending, too.