Subprime News + Mortgage Delinquency = Bad Day On Wall St.

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

Michael — Thu, 12 Apr 2007 11:00:00 GMT

Home ownership was their American Dream. Consumers were set up to fail in most of these situations and were too excited about getting approved and simply signed paperwork until done. I was in the servicing side of it and talked to alot of customers from all cultures and educational levels but most didn't fully understand what they signed. Some mortgages will double or triple in the next few months once reset. Forget investment losses, alot of families are about to be destroyed.

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

C.J.H. — Thu, 05 Apr 2007 11:00:00 GMT

I feel the hype about sub prime mortgagees not being able to afford their mortgages is overshadowing the real issue of Mortgage Fraud by the lenders. How many of us have been mis-used by greedy corporations who have purposely not posted payments to be able to ding our credit? How many of us have been baited and switched? How many of us have been set up to fail from day one by inepthandling of our loan arrangements? More than is known I'm sure of it!

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

Mary — Thu, 29 Mar 2007 11:00:00 GMT

We must educate the consumer before selling or buying, As professionals our duties are to help, and guide the consumer to do what is in the best interest to them. Unfortunalety there are many so call professionals in our industry that took advantage of the consumer by providing the high risk loans and not took the time to explain the consequenses of the loan. We must find a way to help these less unfortunate people from loosing their homes.

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

Frank — Fri, 16 Mar 2007 11:00:00 GMT

Lenders do demonstrate to borrowers exactly what their payments will be at each adjustment. A good number of people over extend themselves knowing very well what they are getting into. People need to read what they sign! The lenders that are having problems got what they deserved with ultra loose guidelines and poor underwriting.

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

Jan — Fri, 16 Mar 2007 11:00:00 GMT

Ahh, but 86% of those with no "ability to pay their debts" are on time showing that the opportunity to buy a home is a great motivator even for those who have struggled or been careless in the past. The subprime problem is that some lenders, those now paying the price, became overly aggressive betting on rapid appreciation to bail them out on possible REO. They got too aggressive with a combination of LTVs and reduced documentation, but there are still plenty of performing subprime loans.

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

Monica L W — Fri, 16 Mar 2007 11:00:00 GMT

Subprime lenders and investors should start thinking about being proactive on their current mortgage bond pools. Especially companies that are in a position to do so. Allowing a lower interest rate for a short period, to those that have proven to pay loans on time or offering home buyouts at the purchase price. Rent rates are on the rise and so most banks, althougn not ideally wanting to be in the RE rental business, could benefit in the short and long-term without hurting their Balance Sheets.

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

Mark — Fri, 16 Mar 2007 11:00:00 GMT

These lenders are getting exactly what they deserve. They used very agressive tactics and encouraged marginal borrowers to borrow the maximum they could qualitfy them for, not necessarily what the borrower could afford. It should be mandatory for lenders to demonstrate to the borrower just what will happen to their payments with every increase in their loan rate. There should be different lower maximums for these borrowers as well. Then they could buy a home that they can afford to keep.

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

Bill Jackson — Thu, 15 Mar 2007 11:00:00 GMT

A nice time to be in the commercial and multi-family loan sector and dealing with qualified borrowers that are required to put at least 20% to 25% equity into each deal and placing loans with local, regional and national institutional lenders that don't invest in home mortgages, particularly those of the now infamous 'subprime' variety. I never did like the home loan end of the business!

RE:Subprime News + Mortgage Delinquency = Bad Day On Wall St.

Dan — Thu, 15 Mar 2007 11:00:00 GMT

Did lenders really think that you can give a mortgage to people who have not demonstrated an ability to pay their debts and expect to get paid when the going gets tough. Wall Street gets what they deserve. This wave of investing is no different than investing in junk bonds.