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Inside Nonconforming Markets

October 13, 2006

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Subprime Lenders Kept California Dreaming in 2005, HMDA Shows

Subprime lenders continued a predictable pattern of lending in 2005, focusing most of their efforts on states with large urban areas and high home-price appreciation rates, an analysis of Home Mortgage Disclosure Act data show. Subprime loans were identified in the analysis as... Read More

Productivity, Efficiency Key To Profitability at Accredited

With competitive pressures putting a squeeze on profits, savvy companies are reinventing their businesses and finding new ways to gain efficiency. That’s been the case at Accredited Home Lenders, where management recently outlined a series of strategic initiatives that it believes... Read More

B&C Lending a Boon in Maine, New Study Claims

Industry and consumer groups continue to ex-change studies demonstrating the benefits – or ill effects – of subprime lending.That pattern was on display last week, when the New England Financial Services Association released a new report that it says documents the... Read More

Iowa Charges Two With Swindling of New Century

New Century Financial has scored a potential victory over fraudsters in Iowa, where the company convinced the state’s attorney general to file a lawsuit against residents who allegedly swindled both the lender and first-time homebuyers in a scheme that involved the use of trumped-up appraisals and... Read More

Buy of ECC Continues Wall Street’s Subprime Foray

Wall Street investment banks remain enamored with subprime origination platforms – especially when they can pick them up relatively cheap. That was the case this week, when Bear Stearns announced that it would pay just $26 million to acquire the... Read More

AFSA Cites Problems With New State Licensing Scheme

A new licensing scheme being cooked up by state regulators could give an unfair competitive edge to mortgage brokers, a trade group representing subprime lenders warns. At issue is a plan by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators to... Read More

Servicers Find Growth Hard To Come By in 2Q of 2006

A solid first half of the year for loan originators didn’t translate to much growth for subprime mortgage servicers, who saw a significant number of loans slide off of their books. That was the key finding of an Inside B&C Lending analysis of servicer replenishment rates, a measure of... Read More

B&C News Briefs

Standard & Poor’s has released new rating criteria for loans with amortization periods in excess of... Wholesale lender MILA, Inc. is shifting its focus away from subprime lending. The Mount Lake Terrace, WA-based online lender, which began life as... Read More