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Tag Archives: Subprime

How Do Non-prime Loans Help Underserved Borrowers?

Underserved Borrowers

Rick Sharga, EVP, Carrington Holdings explains the key difference between the subprime loans issued prior to the Great Recession that led to defaults and today’s non-prime loan products that are unlocking homeownership potential for underserved borrowers.

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Florida Based Services Firm Reports Q2 Net Loss

Walter Investment Management Corp., a Tampa, Florida-based services business that offers solutions to owners of subprime and other asset-light mortgage platforms, announced in its quarterly financial report released on August 11 that the company experienced a GAAP net loss of $12.9 million for Q2 2014.

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Fitch: Green Tree Servicing Moved to ‘Rating Watch Negative’

One of the country's biggest credit ratings agencies has put Green Tree Servicing on negative watch following a report that the company failed several compliance metrics established by the 2012 National Mortgage Settlement. Fitch Ratings announced it is changing Green Tree's servicer grades to "Rating Watch Negative," citing "ongoing concerns with Green Tree's rapid growth and portfolio integration."

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Nonprime Market Sees New Entrant

In an effort to give greater attention to what the company says is an “underserved” market, Carrington Mortgage Services announced Monday its intent to put a tighter focus on borrowers with credit scores in the sub-640 range.

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Mortgage Default Risk Falls in February

The American Enterprise Institute’s (AEI) National Mortgage Risk Index (NMRI), a measure of loans' default risk under stressful conditions, retreated to 11.6 percent last month from January’s reading of 11.8 percent. To gauge where February’s index lies historically, 1990 vintage loans would have an estimated index value of 6 percent, while riskier 2007 loans would be up at 19 percent.

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Wells Fargo May Loosen Credit Requirements

Wells Fargo is looking to reenter the subprime mortgage market by lowering its standards of acceptable credit scores for borrowers. Wells Fargo is the largest U.S. mortgage lender, and a move back into the subprime market may signal a sizable shift in the mortgage lending environment.

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Non-Prime Lending Comeback, Citadel Raises $200mm – May 01,2013

[ca_audio url_mp3='http://blogtalk.vo.llnwd.net/o23/show/4/657/show_4657257.mp3' css_class='codeart-google-mp3-player' autoplay='false' download='false' html5='false']Dan Perl, Chairman & CEO of Citadel Servicing Corporation & Managing Investment Partner for CMMI, LLC leads the charge back into non-prime lending. As recently featured in the LA Times, Dan discusses the proof of ...

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