The mortgage stupidity era is over, while demands for repayment of soured loans keeps mounting. How bad was Countrywide Mortgage, now owned by Bank of America? The bank made a guess, but those figures don’t add up. Now the bank says the figures might be worse:
January 13, 2009 – 5:25 pm
Earlier we wrote the article “F-rated Saxon Mortgage and calls from 800-594-8422 annoy homeowner” as seen here. Even after talking to Saxon Mortgage and parent company Morgan Stanley, Saxon Mortgage continues to call homeowners, even after the house payment was made. The company claims they are again offering a service. Specifically Saxon is giving the [...]
December 3, 2007 – 10:42 am
If the U.K. truly is a window to the future of U.S. economics the credit card industry must be on edge. Discover Card said this morning that it would take a charge to write off part of its Goldfish credit card business in Britain, where consumer credit has deteriorated. HSBC recently said they wanted to [...]
By Timothy Blake
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Also posted in Archives, Economic Impact, International, Lenders
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Tagged Archives, bank, banks, credit card, Economic Impact, HSBC, industry, International, Lenders, mortgage, Risk Management, subprime
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November 28, 2007 – 10:55 am
State Division of Banking offices examine the soundness and lending practices of licensed mortgage companies and are designed to prevent unscrupulous lenders and brokers from taking advantage of consumers. Watchdog organization Household – HSBC Watch called for a national database that would enable all states to coordinate data and perform trend analysis. “If an examiner [...]
November 15, 2007 – 1:04 pm
Barclays and HSBC are on different ends of the mortgage crisis but between them they lost $6 billion from their exposure to the U.S. housing crisis and related credit crunch. HSBC lost money because of U.S. mortgages going bad, and Barclays lost money because of collateralized debt obligations (CDO’s) based on U.S. mortgages. The process [...]
By Timothy Blake
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Also posted in Adjustables (ARMs), Archives, Economic Impact, Outside the U.S.
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Tagged Adjustables (ARMs), Archives, bank, banks, Economic Impact, HSBC, investor, mortgage, mortgage crisis, Outside the U.S., regulators, Risk Management
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