Wednesday 4th December
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Loan Modifications: Selling Loans Means Being Sold Down the River
Written on 25 Sep, 2013 at 17:24
Chase sold the woman's loan to PennyMac. Simple as that. Had her modification already been made permanent, PennyMac would have had to honor the modified payment amount, but because she was only in a trial modification, Chase is... (Continue reading)
Former Sub-Prime Lenders Are Back to Profit Off of the Housing Meltdown. Seriously?
Written on 3 Oct, 2011 at 6:16
Basically, the architects of the sub-prime lending that caused the greatest financial crisis in the history of mankind, are now going to profit from the crisis they caused by buying and selling the very sub-prime loans they couldn't sell before,... (Continue reading)
Former sub-prime lenders are back to profit off the mess they made. Seriously?
Written on 9 Jun, 2009 at 15:22
Apparently, they were not quite satisfied with the hundreds of millions they stole... I mean made, so they've launched a company that will buy distressed mortgages from banks and the government at a discount, modify the loans so that the... (Continue reading)