Subprime Mortgage Loans

In 2000, homeownership in the United States stood at an all-time high of 67.4 percent, but the homeownership rate was more than 50 percent higher for non-Hispanic whites than for blacks or Hispanics. Homeownership is the most common method for wealth accumulation and is viewed as critical for access to the most desirable communities and most comprehensive public services. Homeownership and mortgage lending are linked, of course, as the vast majority of home purchases are made with the help of a mortgage loan. Barriers to obtaining a mortgage represent obstacles to attaining the American dream of owning one's own home. These barriers take on added urgency when they are related to race or ethnicity.In this book Stephen Ross and John Yinger discuss what has been learned about mortgage-lending discrimination in recent years. They re-analyze existing loan-approval and loan-performance data and devise new tests for detecting discrimination in contemporary mortgage markets. They provide an in-depth review of the 1996 Boston Fed Study and its critics, along with new evidence that the minority-white loan-approval disparities in the Boston data represent discrimination, not variation in underwriting standards that can be justified on business grounds. Their analysis also reveals several major weaknesses in the current fair-lending enforcement system, namely, that it entirely overlooks one of the two main types of discrimination (disparate impact), misses many cases of the other main type (disparate treatment), and insulates some discriminating lenders from investigation. Ross and Yinger devise new procedures to overcome these weaknesses and show how the procedures can also be applied todiscrimination in loan-pricing and credit-scoring.

Frank Fabozzi and Chuck Ramsey update their treatise on nonagency mortgage backed securities in this third edition of The Handbook of Nonagency Mortgage Backed Securities. Focused on an important investing area that continues to grow, this book provides comprehensive coverage of all aspects of this specialized market sector, including the mortgage-related asset-backed securities market and commercial mortgage-backed securities. There is information on raw products, such as jumbo loans, alternative A mortgages, and 125 LTV mortgages, as well as structured products, analytical techniques, prepayment characteristics, and credit issues. This fast-growing segment also includes nonagency pass through, nonagency collateralized mortgage obligations, home loan equity-backed securities, and manufacture housing loan backed securities.

Federal Agricultural Mortgage Corporation - Farmer Mac or the Federal Agricultural Mortgage Corporation is a stockholder-owned, publicly-traded company that was chartered by the United States federal government in 1988 to serve as a secondary market in agricultural loans such as mortgages for agricultural real estate and rural housing. The company purchases loans from agricultural lenders, and sells instruments backed by those loans.

Primary Residential Mortgage Incorporated - Primary Residential Mortgage Incorporatedis an independent originator "direct lender" of residential mortgage loans. We underwrite, fund and sell our mortgage products to the top correspondent mortgage investors in the United States.

Mortgage bank - A Mortgage bank specializes in originating and/or servicing mortgage loans.

Negative equity - ... housing market, usually following a general fall in property prices, to mean that the market value of a mortgaged house or flat is less than the amount outstanding on the loan used to purchase it. This situation also occurs with 2nd mortgage home equity loans and some loans structured to loan more than the appraised value, such as 125% loans.

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Not only NationsBank and First Union (see above), but Citigroup, KeyCorp, Greenpoint, Chase Manhattan, etc.. Written by nationally syndicated real estate columnist Jack Guttentag, The Mortgage Encyclopedia helps readers understand the various mortgage terms, features, and options by offering clear, precise explanations. There remain many “bottom-fishers” in the industry offer this defense: they charge every borrower as much as they can. Some of these handy loans — and keep the home financing jungle and make the best reverse mortgage Once you select the right mortgage for your situation, you can explore, step-by-step, how to get the best lender and options Tackling loan paperwork Refinancing and other money makers For most of us, the mortgage field is jammed with jargon and fraught with fiscal pitfalls. This handy guide shows you everything you need to know to find your way through the bewildering array of new mortgage programs Features definitions and explanations of common mortgage, escrow, and closing fees and arcane mortgage terminology Subprime Mortgage Loans (C) Subprime Mortgage Loans Inc. 2005. Subprime Mortgage Loans (C) Subprime Mortgage Loans Inc. 2005. Subprime Mortgage Loans (C) Subprime Mortgage Loans Inc. 2005. Subprime Mortgage Loans (C) Subprime Mortgage Loans Inc. 2005. A one-stop reference for in-depth explanations of mortgage topics With the creation of so many new, complex mortgage programs, it`s difficult for consumers --not to mention real estate agents, attorneys, closing agents, and mortgage brokers--to keep track of them all. You be the judge. The second edition of this MBS classic provides the latest information on any topic, from FHA, Investor, and No-PMI Loans to Origination Fee and Rate Float. For personal use only. Guides readers through the bewildering array of new mortgage programs Features definitions and explanations of mortgage securities. If some people can be gouged more deeply than others, and this falls along racial or ethnic lines, this is not the industry’s fault. If banks refused or were unable to lend to certain people at normal interest rates, other lenders (including both community-based informal lenders, and loan sharks) would step into the breach, offering loans at higher-than-normal interest rates. Safe and simple, reverse mortgages are non-recourse loans and lenders do not share in any appreciation or accrued equity. Subprime Mortgage Loans.