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Nonprime and Subprime News | Subprime Statistics
Stories about non-QM products. Coverage of subprime, Alt-A and
hard money lending. Home-equity loans and home-equity lines of credit.



Issue Number 113, March 29, 2000

Subprime Mortgage Stories
Subprime Mortgage Technology
First Alliance fended officials off until end

The troubled Irvine firm surrenders its license in Washington before bankruptcy filing

OCRegister.com March 29

Single Premium Credit Insurance

Press release from Consumer Credit Insurance Association in favor of controversial insurance used in subprime mortgage lending

CBSNews.com March 28

H&R Block Announces Mortgage Financing Commitments for Option One And Authorization of 12 Million Share Repurchase Program

No suitable offers were made to purchase Option One; company may use whole-loan sales for up to 100% of 2000 production

CBSNews.com March 27

Washington Mutual Offers Home Equity-Linked VISA Card

AOL.com March 27

Bankrupt lender is still solvent

First alliance is using Chapter 11 as a shield against litigation, adversaries say

OCRegister.com March 25

Troubled Mortgage Lender Seeks Bankruptcy Protection

First Alliance filed Chapter 11 to protect shareholders from mounting lawsuits

AltaVista.com March 24

PREYING ON HOMEOWNERS

Positive article about need to continue subprime lending in the face of recent criticism

ChicagoTribune.com March 24

Associates First Capital And Subs' Ratings Lowered By Fitch IBCA

Heavy acquisitions and higher losses hurt capitalization

FitchIBCA.com March 24

Greenspan On Predatory Lending Fed Chief Suspicious Of Sub-Prime Lenders

speech prepared for a meeting of the National Community Reinvestment Coalition

MBAA.org March 24

New Century A-B P-T Ctfs Ser 2000-NC1 Rated By Fitch IBCA

Weighted average ltv 77.6%

FitchIBCA.com March 24

FREDDIE MAC ANNOUNCES STEPS TO PROTECT BORROWERS FROM PREDATORY LENDING PRACTICES

GSE makes statement with comments about single premium policies and mandatory credit reporting

FreddieMac.com March 24

Bank One sells mortgage portfolio

Household to purchase $2.15 billion portfolio, mostly subprime

Austin360.com March 23

Household International And Units Affirmed By Fitch IBCA

However, concern remains over lower capitalization ration and increased exposure to subprime auto and credit card portfolios

FitchIBCA.com March 22

Centex Home Equity Corporation Completes $310 Million Securitization

Company has securitized $2.4 billion since February 1998

CBSNews.com March 20

FIGHTING FORECLOSURE

CITY OFFERS HOPE FOR VICTIMS OF SUBPRIME LENDING

ChicagoTribune.com March 19

Aames Financial Senior Debt Lowered To 'CCC' By Fitch IBCA

Credit line expires this month and company may default on senior debt

FitchIBCA.com February 25

Seasoned HiCombined LTV Issuers Comfort Investors

With big players at the forefront, Subprime climate is steadily improving

Individual.com February 11

THE FORECLOSURE MESS GOES PRIVATE

Chicago area foreclosures doubled from 1993 to 1998

ChicagoTribune.com February 11

DCR Takes Rating Actions on Seventeen Public Classes of
Subprime Residential Mortgage-Backed Securities

Downgrades are a result of high levels of delinquent loans, loans in foreclosure, and REO properties

DCRCO.com February 11

Banks' loan rules examined

Failure of 2 banks in subprime lending prompted Federal proposals

DallasNews.com February 9

FREDDIE MAC LAUNCHES “CREDITWORK”

CCC participants to qualify for "A" rate mortgages after 18 months' timely payments

FreddieMac.com February 9

United PanAm Financial Discontinues Subprime Mortgage Origination Operations

President said "economics and capital needs of subprime mortgage lending were no longer favorable for a company our size"

CBSNews.com February 9

New Century Introduces Instant Loan Approvals On A 24/7 Basis

Brokers can access service @NewCentury.com

AOL.com March 6

VLDC Technologies, Inc. Announces $100 Million First Year Loan Production

Wholesale sub-prime lending division, sold its first loan pools 9/99

CBSNews.com February 8

Whitehall Enterprises' Alternative Lending Group Subsidiary Enters Portal Marketing Agreement With America Online's Digital City

AlternativeLending.com to advertise subprime mortgage services at local level on AOL

CBSNews.com January 27

Downey Fincl Unit, Amer Online In Home Loan Pact

Downey to provide automated home loan application process for AOL's Personal Finance channel

AOL.com January 18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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