Mortgage Insurance Providers will Redefine Terms

Some analysts say sub-prime mortgages will create more revenue for mortgage insurers. Mortgage insurance providers saw a reduction of income due to the end run provided by piggyback mortgages. Premiums are now rising due to increased risk and more lenders getting mortgage insurance policies on mortgages they finance. I fully expect the number of mortgage …

The OCC – a look back to two years ago

This is from August 2005 – exactly two years ago – as Mortgage Blues takes a look back: In a speech last month (july 2005) to the New York Bankers Association, then-Acting Comptroller of the Currency Julie Williams addressed criticism that the agency’s enforcement is too soft. “When supervisors identify an issue, we expect it …

Why HSBC Hopes the World Does Not Put 2 and 2 Together

Why did the subprime money pipeline shut down? And which bank was buying mortgages from brokers and lenders? HSBC of course. Subprime and second mortgages were to HSBC like Household International was to predatory lending – an easy ride to profits. Or so they thought. Second mortgages? Sorry, but HSBC has little or no security …

Countrywide Share Price Down 53 Pct for the year

Bloomberg Television announced this morning that shares of Countrywide are down 53 percent for the year. Countrywide is the biggest mortgage lender in the United States. After a 42 billion infusion by Bank of America some analysts expected Countrywide share to rebound. The company tried to reassure the general public that it was safe and …