newjerseynewsroom.com

1. N.J. court blocks foreclosure over lack of documentation
(Money/Economy)

... of Bank of America, to foreclose on a Haddon Heights property. The problem, as Wizmer pointed out in her opinion, is that Countrywide, one of the firms at the center of the subprime mortgage scandal, ...

2. Do credit rating agencies have a conflict of interest (VIDEO)?
(Money/Economy)

... high-risk instruments — such as collateralized-debt obligations backed by subprime mortgages, known frequently known as "toxic assets." "With a mortgage-backed security where there may be 2,000 mortgages ...

3. Goldman Sachs taking a long look in the mirror
(Money/Economy)

... linked to the troubled subprime mortgage markets. Some shareholders and others expressed their displeasure with an iconic American company that, to some, has become a symbol of excess. There were tough ...

4. Examiner finds Lehman execs lied to investors, board
(Money/Economy)

... were such enthusiastic high fliers that they "even intensified this high-risk strategy after the onset of the subprime residential mortgage crisis intensified in late 2006," the report said. To generate ...

5. Ground broken for 28 low- and moderate-income homes in Asbury Park
(N.J./State)

... to help neighborhoods hit by the subprime mortgage crisis and the general economic downturn. The $2.5 million grant will be used to build 28 newly constructed residences, 20 for ownership and 8 for rental. ...

6. Report critizes U.S. for country’s lack of affordable housing
(U.S./Nation)

... by exploding housing costs. Her report also highlights homelessness in the United States, and looks at how the demolition of public housing units, housing foreclosure and exploitative "subprime" lending ...

7. Banks could still be troubled with more obstacles still ahead
(Money/Economy)

... housing bubble exposed investments in risky subprime loans. "The banks that came closest were Citibank, Bank of America and if those had not been supported by the government, I think it might have ...

8. www.thereversemortgageschool.com
(Comments/Unsorted comments)

From inside the industry, I can tell you that the "players" from subprime are NOT selling these products, they cannot stand the transparency and length of transaction that are inherent to the business. ...

9. Reverse Mortgages: The latest financial scam
(Money/Economy)

... vulnerable seniors." The report states that although brokers and lenders in the subprime market claimed they had responsible lending principles, facts show otherwise. Numerous times throughout the report ...

10. A ‘seal' of approval at Vancouver International Film Festival
(Entertainment/Movies)

... them into high-rate subprime loans when they qualified for normal ones, and buried crucial details in rushed closings. Near Stockton, Calif, what were recently $650,000 to $850,000 homes sit abandoned, ...

11. Denied Loan
(Comments/Unsorted comments)

... cut on FHA loans and FHA I advocate still, even through the subprime "we turn down nothing but our collar" philosophies. The main thing is that FHA continues to help people all over the nation rich ...

12. Struggling FHA may soon need to go to Congress for help
(U.S./Nation)

... earlier in the decade as subprime lenders filled its niche. But its share has skyrocketed in the past couple of years as the subprime market disappeared. It was 23 percent in the second quarter of 2009, ...

13. What is the next big budget concern for states?
(U.S./Nation)

... rule literally will shut down what they call the subprime credit card market. There are approximately 70 million of those credit cards throughout the United States. There is a strong possibility that in ...

14. Canada’s top economist Jeff Rubin predicts $225 for a barrel of oil by 2012
(Money/Economy)

... is finished. In the book, Rubin contends the current global recession is a result of expensive oil, rather than subprime mortgages in the U.S. Frequently ranked as Canada's top economist, Rubin predicts ...