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Hildreth said the order seeks to ensure consistent regulation of the mortgage market and will be an important tool for his agency in protecting consumers in the subprime lending market.
Problems with the subprime lending market also derailed PacificAmerica's merger with Fremont General Corp.
He also founded Drive Financial Services (now Santander Consumer USA) which became one of the nation's largest privately held subprime lending companies.
Bourque used a cartoon to illustrate the problem with subprime lending.
The impact of the subprime lending markets is reverberating worldwide and regulatory scrutiny in the U.
Subprime lending plays an important role in access to credit and is booming across the nation, but at the same time, abusive, predatory practices have been flourishing in a subset of this market.
A new section identifies subprime lending as the extension of credit to borrowers who exhibit characteristics indicating a significantly higher risk of default than traditional bank lending customers.
The recent turmoil in the subprime lending industry makes it difficult to predict whether any transactions are likely to be completed,'' PacificAmerica said in a statement.
The recent growth in subprime lending, along with a number of other industry factors, has made the demand for timely knowledge and solutions greater than ever before, and this guide contains the information financial professionals need to succeed in this challenging field.
While Manhattan homebuyers rarely rely on subprime lending (only 1.
The members of the coalition were at the bank yesterday to announce the completion of a report prepared by the Montachusett Regional Planning Commission on foreclosures, bankruptcies and subprime lending.
The Board took into account changes in the home mortgage market, including growth in areas such as subprime lending and loan preapproval programs.