Posts Tagged ‘Subprime’
The Subprime Mortgage Crisis: Code, Crash, & Open Source
Erik Gerding, assistant professor, UNM School of Law, discusses how mortgage investments work and how that process led to the subprime mortgage crisis. Part of Global Instability: Causes, Consequences, and Cures, a lecture series organized by UNM’s International Studies Institute.
Duration : 0:51:54
Subprime mortgage crisis correlation with Bush administration?
After this speech in 2002 the amount of subprime mortgages went up radically. Report on RTL Z financial news channel. They state the current crisis isn’t an accident in the free market, but is the result of planned actions of Washington.
JDN717 send me a message saying: before you start blaming the us mortgage crisis on bush read this article from 1999 http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1#
Seems this has been going on for longer..
Duration : 0:1:34
Possible Commercial Real Estate Bubble
Since the subprime mortgage fiasco and collapse last year, many states in the USA have seen home prices fall drastically. Hawaii has not been hit that hard. But there is fear of an upcoming commercial real estate “bubble” to burst in many places in the U.S. and here in Hawaii. This could be a wrong prediction, but here is some evidence. What I find interesting is what was a a big retail furniture store has now become a Christian mega-church. Change does happen upon commercial real estate, some become “ghost-towns”, and some go through dramatic change like this one. Lots of commercial real estate in downtown Oahu made the transition into condominiums/office space or into purely condominiums from what was office space before. Need to generate rental income forced change in downtown and shopping malls like this one.
Duration : 0:1:40
State Sovereignty
This is worth reading and monitoring.
Nothing may come of this, but worth taking notice
In the event that something does indeed happen.
Watch in HQ:
******** Update 05/10/2009 ***********
HCR 6 – New Hampshire Sovereignty Bill
“Inexpedient to Legislate”
It means the bill died before it got to the floor.
http://gencourt.state.nh.us/bill_status/Results.aspx?q=1
Maybe they were bought out with HR1 Stimulus money?
********** Update 04/24/2009 ****
Montana Firearms Freedom Act – House Bill #246
Language asserts 10th Amendment
http://data.opi.mt.gov/bills/2009/billhtml/HB0246.htm
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Update: 4/20/2009
Ron Paul 2012- Ron Paul on Secession 4-20-09
http://www.youtube.com/watch?v=ITz2SOmR8J4
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Update: 04/12/2009
Gov. Perry Backs Resolution Affirming Texas Sovereignty Under 10th Amendment – Part 1
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California Counties Begin Secession – This is how Civil War Begins!
Michigan
Go to: House Concurrent Resolution No. 4.
http://www.legislature.mi.gov/(S(p32jvnrbuinnav55vxcqic55))/documents/2009-2010/Journal/House/htm/2009-HJ-01-22-002.htm
Or try this.
http://www.legislature.mi.gov/(S(wym4kh45ycl3lp45nt254245))/mileg.aspx?page=GetObject&objectname=2009-HCR-0004
Missouri
http://www.house.mo.gov/content.aspx?info=/bills091/bills/HR212.HTM
Oklahoma
http://axiomamuse.wordpress.com/2009/01/07/state-legislator-charles-key-wants-to-limit-federal-power/
Hawaii
http://www.hawaii-nation.org/
Washington
http://apps.leg.wa.gov/billinfo/summary.aspx?year=2009&bill=4009
New Hampshire
http://www.gencourt.state.nh.us/legislation/2009/HCR0006.html
Arizona
http://www.azleg.gov/Formatdocument%26?inDoc=/legtext/49leg/1r/bills/hcr2024p.htm#183;asp
Montana
http://data.opi.mt.gov/bills/2009/billhtml/HB0246.htm
Research the material, be watchful!
Duration : 0:3:8
Mr Mortgage Exposes Wells Fargo’s Toxic Waste 4/7/08
Visit my new blog…
http://mrmortgage.ml-implode.com
Wells Fargo Subprime toxic waste exposed. Do they have to raise capital? Mr Mortgage shows a 2006 Wells rate sheet. This is hard evidence of Wells doing nasty subprime loans for borrowers with scores as low as 500 and 120-day mortgage late payments, which is essentially foreclosure status. They did not sell this directly to consumers, rather used correspondents like New Century, Accredited, Countrywide etc to rebrand the programs and sell them as their own. This is a very common practice but this just proves Wells is dirtier than most. First, because not everyone did subprime. Second, because they lied of course.
Duration : 0:7:48
A big fat payday for Sen.Chris Dodd from lender Countrywide!
Sen. Chris Dodd took exclusive VIP loans from Countrywide Financial. He saved $75,000! Now he’s sponsoring a taxpayer-backed bailout of mortgage lenders — including Countrywide!
Duration : 0:3:6
Mr Mortgage – HERE COMES THE ALT-A CRISIS 4-16-08
Visit my new blog…
http://mrmortgage.ml-implode.com
Mr Mortgage Exposes ALT-A Crisis Coming to a City Near You Soon
Duration : 0:10:0
Mr Mortgage – Home Equity Delinquencies Surge
Check out my new blog…
http://mrmortgage.ml-implode.com
S&P, BofA and Fitch all concur that the ‘Home Equity Implosion’ is knocking on, or kicking down rather, the front door.
Duration : 0:6:22
Real Estate Woes: The Subprime Mortgage Crisis by CAP
http://www.americanprogress.org/issues/2008/01/barr_testimony.html
With each passing release of housing-related data, the picture becomes bleaker for the estimated 1.8 million homeowners with subprime mortgages whose interest rates have reset this year or are due to reset before the end of next year. Many of these borrowers and their families hold the 22 percent of adjustable rate subprime loans currently delinquent or the 3.84 percent of subprime loans that entered foreclosure in the second quarter of this year. For those still current on their loans, they can look forward to increases in monthly payments averaging 30 percent to 50 percent when their rates reset.
There have been a number of proposals offered to help these and other troubled borrowers, but the range of solutions suggested to date still leaves a significant number of families without any solution to their problems.
For more of CAP’s work on the current housing crisis please visit
THE CENTER FOR AMERICAN PROGRESS
www.AMERICANPROGRESS.org
Duration : 0:1:27
ROAD TO RUIN: Mortgage Fraud Scandal Brewing
Criminal fraud may be the most underreported aspect of our current financial crisis. In this “Road to Ruin” report, former subprime lenders from Ameriquest, once the country’s largest lender, describe a system rife with fraud. They describe how a “by-any-means-necessary” policy pushed employees to cut corners and falsify documents on bad mortgages and then sell the toxic assets to Wall Street banks eager to make fast profits.
Duration : 0:6:53