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Search results for "subprime loans" ...

  • Detroit's foreclosure meltdown

    This series investigated the impact of a decade of mortgage foreclosures on Detroit neighborhoods by tracking the fate of nearly 65,000 bank foreclosed homes. We found that subprime lending and bargain-basement sales of these homes contributed to a $500 million loss for the city in unpaid property taxes and demolition costs.
  • All the Devils are Here: The Hidden Story of the Financial Crisis

    This book offers an attempt to exlore all the various forces -- on Main Street, Washington and Wall St. -- that lead to the financial crisis of 2008. They explored the extent that subprime loans fed the crisis; how Wall Street dictated the degraded lending terms; and the efforts of federal regulators to thwart predatory lending at the state and local levels.
  • The Real Estate Meltdown

    "Did Appraisers Juice the Market?" showed how appraisers overstated home values. Using disciplinary records and interviews, Shanklin and McClure found appraisers who exaggerated condo sizes, appraised homes without seeing them and stated that condos were worth the $240,000 sales price even though the price was padded with $40,000 of incentives. The "Subprime Mess" package was based on more than 2 million records and showed how unconventional loans moved from low-income, inner city neighborhoods to the burgeoning suburbs. "How Investors Helped Overheat the Market" explored the role of investors in Central Florida's real estate meltdown by analyzing hundreds of data records and found that sales of non owner-occupied homes grew from 25 percent of all local residential sales in 2002 to 70 percent in 2006.
  • Southern Exposure - "The New Loan Sharks"

    This two issue series documents how market forces and regulatory inaction have fostered a pattern of impropriety and lawbreaking among major lenders. The first issue focused on how Citigroup has become the leader in "subprime loans" targeted at moderate-income and minority borrowers. The article is supplemented by a timeline, sidebars and maps and tells the story of people whose financial lives have been wrecked by Citigroup's practices. Then, SE conducts an investigation of the subprime autofinancing market, They find that questionable car sales tactics are institutionalized practices fueled by top-down market forces and the policies of GMAC, Nissan and other big players.
  • Lessons from the Downturn

    "This series examined 1) the magnitude of foreclosures in our circultion area and its rippling effects 2)Precisely charted home sales prices by neighborhood going back to 2003 3)Looked at the effect the slowing housing market was having on individuals as well as the overall economy."
  • Neighborhood Predators

    The Ford Foundation reports on the fine line between predatory lending and subprime loans -- those that are more expensive because of the higher risk involved. Without subprime loans many minority families would not be able to buy homes, the article reports. Because the institutions giving subprime loans are often not banks, there's no way to monitor their behavior. "It's like the Wild West," the article reports.