Posts Tagged ‘Outside the U.S.’

Mortgage lender Victoria Mortages in administration

Written by Leatherneck on September 10, 2007 under Archives, International, Lenders, Outside the U.S.

A British mortgage lender which offers loans to people with poor credit histories has gone into administration. Victoria Mortgages said its funding had been “removed”, becoming one of the first UK victims of the credit squeeze caused by worries over sub-prime loans. Borrowers whose mortgage applications have been approved, but have yet to receive funds, are set to be worst hit.

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.

U.S. Mortgage Blues Reaches Australia

Written by Timothy Blake on July 31, 2007 under Archives, Outside the U.S.

Yes, this site is MortgageBlues.us, but we have a report on Australia. Our point is simple – running hog wild in the United States is hurting other countries. Look for a detailed report from one of our analysts in the near future. In that report it seems our own government knew there would be problems. Still under wraps, our report guarantees to show who was hung out to dry and who protected their own interests. Meanwhile, on to Australia.

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