Secondary Market/Investors
Consumer Group: U.S. Facing ‘Worst’ U.S. Mortgage Foreclosure Crisis
By: PAUL JACKSON
December 18, 2006
Touting a report to be released tomorrow, the Center for Responsible Lending, a Washington, D.C.-based consumer advocacy group, said today that subprime mortgages originated from 1998 through the first half of 2006 will wipe out billions of dollars of economic wealth in what the group characterized as “one of the worst foreclosure crises in American history.”
The CRL will release what it says is the first comprehensive, nationwide look at how subprime mortgages perform, providing projected foreclosure data on all major U.S. metropolitan statistical areas (MSAs).
The report is scheduled to be released tomorrow afternoon during a news conference featuring Michael D. Calhoun, president, Center for Responsible Lending; Pat Vredevoogd Combs, president, National Association of Realtors; and Wade Henderson, executive director, Leadership Conference on Civil Rights.
HW will post updates on this and other stories as they break.
recent stories by department
Origination/Lending
Secondary Market/Investors
Get your HW Fix
Join more than 3,000 bold subscribers who already get HW's daily email delivered to their inbox -- it's free, and a great way to ensure you don't miss something.
Events
2008 Sep 10 -- 2008 Sep 12
USFN Fall Default Servicing Seminar
Well-attended twice-yearly event series for servicers; closed event for USFN members and invited servicers only.
2008 Sep 17 -- 2008 Sep 20
Five Star Conference
Default and REO industry conference, hosted by trade publication DS News. Heavily attended by REO agents.
2008 Sep 23 -- 2008 Sep 24
Executive Summit on Mortgage Fraud
High-level conference focused on quantifying and managing mortgage fraud. Speakers to include execs from OFHEO, FBI, Fannie, Freddie.
2008 Oct 19 -- 2008 Oct 22
MBA Annual Convention & Expo
The annual conference for MBA members and affiliates, and the largest industry event each year.
