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"The Rise and Fall of Subprime Mortgages" (PDF). Federal Reserve Bank of Dallas. November 2007. "Jan 15 2008 Main sub-prime losses reported]". BBC News. January 15, 2008 "Sub-Prime Trail of Deceit" The Cleveland Plain-Dealer investigation into the complicity of lenders in the Cleveland foreclosure mess. May 2008
In 2008, David Goldstein and Kevin G. Hall reported that more than 84% of the subprime mortgages came from private lending institutions in 2006, and the share of subprime loans insured by Fannie Mae and Freddie Mac decreased as the bubble got bigger (from a high of insuring 48% to insuring 24% of all subprime loans in 2006). [267]
Mortgage lender [2] August 6, 2007: American Home Mortgage: Chapter 11 bankruptcy and liquidation Mortgage lender [3] August 31, 2007: Ameriquest Mortgage: Chapter 11 bankruptcy and liquidation Largest Subprime Mortgage lender September 28, 2007: NetBank: ING Direct: Savings and loan association $ 14,000,000 [4] [5] October 9, 2007: ABN AMRO
Compared to subprime mortgages, prime mortgages are available to highly qualified borrowers who pose little risk to lenders. When lenders advertise rates “as low as” a certain percentage ...
Federal Reserve data found more than 84% of the subprime mortgages in 2006 coming from private-label institutions rather than Fannie and Freddie, and the share of subprime loans insured by Fannie Mae and Freddie Mac decreasing as the bubble got bigger (from a high of insuring 48% to insuring 24% of all subprime loans in 2006). [81]
The value of U.S. subprime mortgages was estimated at $1.3 trillion as of March 2007, [18] with over 7.5 million first-lien subprime mortgages outstanding. [19] Approximately 16% of subprime loans with adjustable rate mortgages (ARM) were 90-days delinquent or in foreclosure proceedings as of October 2007, roughly triple the rate of 2005. [20]
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