One day after Greenpoint Mortgage shuts its doors the casualties continue to mount. Lehman Brothers announced today that it will be shutting down its subprime mortgage lending unit, BNC Mortgage LLC. BNC was one of the top 20 subprime producers in 2006, originating over $14 Billion in loans. "Lehman...
The subprime mortgage industry may be going through hard times but the paper industry and those who invest in broadband capacity are probably laughing all the way to the bank. There must have been billions of words of explanation, excuses, suggestions, demands, and sheer propaganda spoken and written...
It would probably be safe to bet that six months ago 90 percent of Americans had never heard of a subprime loan . It would be equally safe to wager that six weeks ago that number hadn't changed much. Don't bet your bus fare on that premise today. Financial reporters, public officials, advocacy groups...