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Linked Articles: |
Mortgage Crisis Spirals, and
Casualties Mount
By Julie Creswell and Vikas Bajaj,
The New York Times
“An escalating crisis in the market…is threatening a wide band of people. Foremost are the poor and minority homeowners who used easy credit to buy houses that are turning out to be too expensive for them now that mortgage rates are going up, but the pain is also being felt widely throughout the business world.”
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Housing slowdown smacks
Realtors hard
By Noelle Knox, USA Today
In many markets across the country, the glamour of the go-go days – when investors bought homes sight-unseen and lenders didn't require down payments – are gone. |
Subprime crisis shines light
on mortgage brokers
By Alistair Barr, MarketWatch
Class action suit against NovaStar alleges hidden fees; lender to fight back. |
The Subprime Mortgage
‘Crisis’ Will Fix Itself
By Steve Berger, The Daily Reckoning
Let contractual arrangements remain in force, let good lenders prosper and bad ones suffer (similarly with borrowers) and let the taxpayers' pockets go unpicked. Legislative interference with market processes is likely only to prolong and deepen the downturn. |
U.S. ‘subprime’ mortgage crisis hitting blacks, Latinos hardest
By Beth Gorham, Yahoo! Canada Finance
“Beyond the headlines is the ugly reality that African Americans, Latinos and other ethnic groups are by far the hardest hit in a crisis created by predatory lenders and so-called ‘sub-prime loans’ that charge higher interest rates and fees for those with shaky credit ratings.” |
Some in subprime industry adopt principles for borrowers
USA Today
“Several major participants in the home mortgage market have agreed to adopt a set of principles for dealing with homeowners with high-priced loans who face possible foreclosure.” |
Credit-score panacea failed
to stop US mortgage crisis
By Peter Henderson, Tim McLaughlin, Andy Sullivan and Al Yoon, Reuters
“Lenders in the midst of an unprecedented U.S. housing boom pared borrowing requirements to a minimum -- a single number, known as a "FICO score," that was supposed to reflect the borrower's ability to repay a mortgage. |
Helping out homeowners
is prime topic
By Roger Showley, San Diego
Union-Tribune
“Moving from assigning blame to looking for solutions to the growing subprime mortgage crisis, the Federal Reserve Board's San Francisco bank yesterday gathered lenders, consumer advocates and fair-housing experts to look for ways to save financially distressed homeowners from foreclosure.” |
Crisis and Opportunity In
Subprime Mortgage Markets
By Thomas P. Vartanian, Partner, Fried Frank Harris Shriver & Jacobson
“While problems so far in the mortgage business have largely been restricted to monoline, subprime mortgage lenders, there is little doubt that mortgage-market practices will be reevaluated and recalibrated.” |
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Beta Gamma Sigma provides the following links to various articles about the U.S. Mortgage Crisis. The Society hopes to inspire greater discussion and consideration among business professionals by bringing articles about current subjects to its members. BGS hopes you find something of benefit and interest in our selection of articles. 
