Do Banks play a crucial role in mortgage crisis?

Thursday, August 28th, 2008

According to Amiyatosh Purnanandam, assistant professor of finance at U-M's Ross School of Business banks have played a big role in the mortgage crisis, not only because they issued loans to suspect borrowers, but because many originated and sold bad loans to other lenders. "The model of lending in which the ...

Posted in Business News, Foreclosure News, Nation News, Real Estate | 117 Comments »

FDIC sees increase in troubled banks list from 90 to 117 at the end of the first quarter

Wednesday, August 27th, 2008

A Press release by Federal Deposit Insurance Corporation (FDIC) shows an increase in the "problem lists" of banks from 90 as on March 31 to 117 in June 30, which is the highest number since the middle of 2003. Total assets of problem institutions increased from $26 billion to $78 ...

Posted in Business News, Foreclosure News, Nation News, Real Estate | 8254 Comments »

Foreclosure Glossary Terms

Tuesday, August 26th, 2008

Definitions of some of the important terms used during foreclosure issues discussion. 1) Subprime Loans- This refers to a type of loan offered to a person who does not qualify for prime rate loan because of the bad credit record. These kind of loans has an interest rate higher than the ...

Posted in Foreclosure Laws, Real Estate | 127 Comments »