Satisfactory Originator Review and Track Record (Positive): Fitch conducted an operational review of AOMS and AOHL and assessed them as 'Average' based on the companies' seasoned management team and extensive nonprime mortgage
experience, a comprehensive sourcing strategy and sound underwriting and risk management practices.
by Federal Regulators to Restrict Nonprime Mortgage
It is not clear that anyone in the market or in government in 2007 and 2008 understood the dimensions of the nonprime mortgage
Understanding the Boom and Bust in Nonprime Mortgage
"We haven't come across inappropriate lending" in the nonprime mortgage
market this year, says Beverley Budsworth, managing director of the Debt Advisor, which counsels consumers on debt issues.
he boom in nonprime mortgage
lending that occurred in the United States between 2004 and 2006 was quickly followed by rapid increases in the rate of delinquencies and foreclosures on these loans.
Articles in The Village Voice likewise have drawn attention to how current New York State Attorney General Andrew Cuomo, as Secretary of HUD between 1997-2001, actively pushed Fannie Mae and Freddie Mac into backing the enormous expansion of the nonprime mortgage
News NL--Royal Media Group, financial
Royal Media Group (New York), the publisher of "Auto Finance News," "Home Equity News" and "Collection Technology Magazine," among other information products, has launched "Nonprime Mortgage
News." Designed to offer the nonprime mortgage
market "more guidance and direction," the new publication focuses on four areas of importance for the nonprime mortgage
market, including compliance, the correspondent market, technology and the professionals who influence developments in the sector.
Another form of nonprime mortgage
is the Alt-A mortgage, which is usually a loan made to a borrower who has a relatively high credit score but lacks sufficient (or any) documentation of income.
Wells Fargo Steps To Success: Wells Fargo launched this free program in 2006 to help its nonprime mortgage
borrowers manage and strengthen their credit.
sector,'' GM said in a press release.