Colli Real Estate

What percentage of the total number of mortgage loans in America was classified as “sub-prime”?

There are thousands of sources out there – that’s probably your issue, you put in a search and get too many answers?

Firstly, ‘sub-prime’ is not a market category, it’s a group name for dodgy mortgages, or one whole market sector. If you want to know the answer you really need to know the difference between ‘sub-prime’ and ‘ninja’ loans (No Income, No Job, no Assets), and the actual real names they have.

I would recommend using this site – Mike Shedlock’s economics blog. Search it for sub-prime or mortgage. He does very good explanations, uses a lot of graphs, and links to other sites that have the actual stats for the things he discusses (and he’s American):

Could not add site address – google Mike Shedlock and you will get it.

You can also get good indicators form other sources like the %age of home ownership in a country. America’s home ownership was stable as a %age for a long time – it started going up a lot over the last 6-8 years. This was a ‘boom’ – it was actually a spike in lending to people who couldn’t afford houses, which is now reverting to the normal %age number. Really rough numbers: the number of extra people was something like 62% then up to about 67% of the population, so maybe only 5% of the population; 5 of 67 makes it about 8% total in ‘dodgy’ mortgages.

Unfortunately markets move at the margins, so an 8% selloff of houses smashes all the prices, causing much bigger drops than 8%. Imagine if 8% of all car drivers suddenly decided not to drive any more – cars would become much, much cheaper.

Why Do Mortgage Lenders Hate America?

Mortgage on America: The Real Cost of Real Estate Speculation (1974, Book) $8.99

1951 Press Photo Mortgage Bankers Association Of America George Patterson $27.88

The RL Strategy: Robert Leonetti Live (Real Estate Investor, Coach, Author and Speaker, Considered America’s Premier Expert on Real Estate) $24.79 The RL Strategy will teach you: 1) How to buy real estate with no money. 2) How to put cash in your pocket when purchasing. 3) Use this technique as many times as you want, wherever you want. 4) Purchase any type of real estate. 5) Unlimited dollar amount of purchase. “Using Bob’s method, I was able to buy six houses in one day and walk away with a check for $114,000.” –Carlos C., Port Aran…

Roto-Rooter $1.99 …

Ten Trillion and Counting $0.99 …

60 Minutes – Prosecuting Wall Street $17.95 Airdate: 12/04/11 Two whistleblowers offer a rare window into the root causes of the subprime mortgage meltdown. In this two-part piece, Eileen Foster, a former senior executive at Countrywide Financial, and Richard Bowen, a former vice president at Citigroup, tell Steve Kroft the companies ignored their repeated warnings about defective, even fraudulent mortgages. The result, experts say, was a …

The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street $6.85 In The Great American Stickup, celebrated journalist Robert Scheer uncovers the hidden story behind one of the greatest financial crimes of our time: the Wall Street financial crash of 2008 and the consequent global recession. Instead of going where other journalists have gone in search of this story—the board rooms and trading floors of the big Wall Street firms—Scheer goes back to Washington…

Mortgage Lending in Europe And North America $58.5 No Synopsis Available

Mortgage Is Bank $9.83 Mortgage Is Bank

The Mortgage Millionaire $29.5 The Mortgage Millionaire

Mortgage Matters $13.95 Mortgage Matters

Trust Mortgage $11.78 Trust Mortgage

Tags:   bank · banking · economics · finance · first mortgage of america · first mortgage of america ltd · home mortgage of america · homeowners mortgage of america · realestate · star mortgage of americaNo Comments