Root cause of current global financial crisis

Our friends at BBC News explain what caused the global financial crisis, mortgage crisis, and lending crisis in a great and simple way: US mortgage-backed securities were the investment products that sparked the global financial crisis in 2008. In essence, each security or bond was linked to pools of US mortgage loans, many of which …

Phony Indian Debt Collector Scam

This scam originally targeted borrowers in the United States but has been used in other countries. Victims are those who use or used payday loans, pawn your title loans, or variations of such short term loans. Preventing the scam is easy if you know who you owe money to. Consumers received millions of collection calls …

Mortgage Servicer Multi State Mortgage Settlement Scam

Recently the news told about the multi state mortgage servicer nationwide settlement. That was true, and mortgage servicers agreed to pay a total of $25 million (USD). Unfortunately, as soon as the deal between the states and the mortgage servicers was announced, scammers invented the Mortgage Settlement Scam. Don’t fall for it. Here is more …

Capital One and HSBC Credit Cards

Capital One might do a better job than HSBC Finance, Household Bank, and HSBC NV with regard to credit cards. Almost everyone has seen a commercial asking “What’s In Your Wallet”. Capital One is considered a financial holding company, and HSBC USA is made up of so many holding companies that the US government can’t …

Ocwen Mortgage Subprime Servicing Now Number 1

Ocwen Financial Corporation, known to most Americans as either Ocwen Mortgage or Ocwen Mortgage Servicing, has plans to grow even larger. Ocwen is already the largest servicer of subprime mortgages. Here is the tie-in: Home Loan Servicing Solutions, a foreign investment firm designed to buy mortgage servicing rights from Ocwen Financial Corporation, is planning an …