Posts Tagged ‘OCC’

Why HSBC Hopes the World Does Not Put 2 and 2 Together

Written by Leatherneck on August 27, 2007 under Analysis, Archives, Economic Impact, Editorial, Foreclosure, Government Positions, International, Investors, Job Losses, Lenders, Opinion, Outside the U.S., Root Causes

Why did the subprime money pipeline shut down? And which bank was buying mortgages from brokers and lenders? HSBC of course. Subprime and second mortgages were to HSBC like Household International was to predatory lending – an easy ride to profits. Or so they thought. Second mortgages? Sorry, but HSBC has little or no security interest when a home goes to foreclosure.

Foreclosures up 93 percent in July

Written by Leatherneck on August 21, 2007 under Archives, Foreclosure

The number of Americans losing their homes rose sharply in July. There were 179,599 foreclosures in the month, 93% more than July last year. The figure was also 9% higher than that recorded in June. RealtyTrac, which tracks the information on foreclosures said Tuesday California, Florida, Ohio, Michigan, and Georgia accounted for more than half of the July cases.

A Guide to Subprime or ‘How to ruin your country’s economy too’

Written by Leatherneck on August 21, 2007 under Archives, Definitions, Economic Impact, International, Lawsuits, Mortgage Fraud, Root Causes

Economists in any country in the world – except the United States – should study the “interest only” loan. It is imperative so your economy doesn’t get hurt in the future. Just consider the United States as a training ground. We all saw the ripple effect around the world. If your country’s stock market lost $80 million in one day, or if your country’s central bank pumped billions of dollars into your economy, your economists should study the interest-only scam so you can prevent it.

Household International and Ameriquest Pushed Too Far

Written by Leatherneck on August 20, 2007 under Archives, Lawsuits

The following are allegations that resulted in Household International to paying the largest predatory lending settlement in the United States. Some say the Ameriquest predatory lending settlement was modeled after the Hosuehold International settlement, although others deny that parallel.

Dow drops 100 points in first 2 minutes Thursday

Written by Leatherneck on August 16, 2007 under Archives, Economic Impact, Lawsuits

As we watched the Dow Jones opening bell on Bloomberg TV we also watched the Dow drop 100 points in the first two minutes of trading. Declines reflect little confidence in the debt markets. The Fed put more cash in to the system with $5 billion added overnight, but the move was overshadowed by one analyst who used the words “bankruptcy” and “Countrywide” in a recent report.

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