The coming consolidation of the subprime
industry is an open invitation for conforming lenders to finally reposition themselves as full-service lenders, offering products and programs for the broad spectrum of today's borrowers.
life insurers' subprime
exposure leads us to conclude that the industry's exposure is manageable.
The researchers find that the crisis was not solely, or even primarily, a subprime
While the FHA was still offering favorable mortgage terms for qualified borrowers, subprime
lenders were offering a much easier and faster application process, at times with no down payment requirement.
Following Morgan Stanley s disclosure in November 2007 of several billion dollars in write-downs relating to a trading position in subprime
securities, plaintiffs filed a class action alleging that Morgan Stanley and the individual defendants violated Section 10(b) of the Securities Exchange Act of 1934 by (1) misrepresenting Morgan Stanley s risk controls relating to monitoring its subprime
trading positions, (2) misstating and omitting information regarding the extent of Morgan Stanley s exposure to subprime
-related assets, including one of Morgan Stanley s subprime
trading positions, and (3) overvaluing that subprime
trading position in Morgan Stanley s third-quarter 2007 financial results.
Unfortunately, many of the most popular explanations that have emerged for the subprime
crisis are, to a large extent, myths.
As of this date, insurance analysts have estimated the potential underwriting exposure of D&O and E&O insurers for losses resulting from subprime
lending to be as high as $8 billion.
exposure is still relatively small.
As a result, Mitsui Life will report a net loss of several billion yen for the 2007 business year, becoming the first major Japanese life insurer to see its net balance sink into the red due to subprime
mortgage-related woes, the sources said.
ARM loans, there were approximately 13,000 loan modifications and 90,000 repayment plans established in the third quarter.
One of the main questions that the agencies ask is whether subprime
mortgages are "inappropriately risky.
PRINCETON, NJ -- In a speech last week before the Federal Reserve Bank of Chicago's 43rd Annual Conference on Bank Structure and Competition, Fed Chairman Ben Bernanke addressed the topic of the subprime
mortgage market and its potential impact on the residential real estate market.