Subprime Lenders
I read yesterday on Diane Cipa’s Radical Title Talk blog her alert regarding some of the sub-prime lenders and advising people to call their title underwriters.
The sub-prime lenders that bear watching are New Century Financial, Fremont General, and HSBC for future events.
CNNMoney.com today, has announced that on Monday, Countrywide Home Loans will stop offering no money down loans. No money down loans are secured by the value of the property. This type of loan is where the lenders are finding the highest delinquency rates.
In reading the article there appears to about 24 companies are being affected by the delinquencies and may be expected to take "hits" to their bottom lines.
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