Why Americans Find Predatory Lending Offensive

Author’s Note: I wrote this article in 2002. It has been copied, stolen, and reused without permission or credit given. When I wrote this article I was working as a government contractor in the years after I retired from the Marine Corps. Referencing Google Authority and copyright laws, I’m republishing my original work as follows: …

Key quotes from 2012 State Of The Union address

We watched predatory lending, and watched the mortgage crisis build. Most people did not realize financial folly would lead to a crisis of great proportion, but we did. Here at Mortgage Crisis Daily we documented abuses and changes to laws that permitted abuse in mortgage and lending. At least five years have passed since the …

Fannie Mae, Freddie Mac and RBS roundup

Royal Bank of Scotland is eliminating 3,500 investment bank jobs and will sell or shut the bank’s equities and advisory business under a 3-year plan to further reduce risk. RBS said the bank will focus more on domestic retail and corporate banking. RBS, 83 percent owned by the UK government, on Thursday said it will …

ResCap was one of largest subprime mortgage originators

We are starting a segment that looks at where major subprime mortgage players are today. With many of them it is easy because they don’t exist any more. I know you’ve seen television, Internet, and newpaper ads for Ally Financial, which used to GMAC. Ally Financial’s mortgage subsidiaries include Residential Capital, LLC (ResCap) Here is …