All GLG News Analyses Filed Under: Mortgages, Consumer & Specialty Finance

This WSJ article is a cogent summary of recent efforts by State legislatures to protect borrowers against subprime lenders. If implemented, any one of these proposed laws will immediately cut-off a vital source of funding for subprime borrowers.In addition, the statutes would generate a significant...

Doomsayers foretell huge secular crashes resulting from the subprime bust and the real estate bubble. Others say "not so fast, it will not get that bad."So what are the key points on which to focus?Well, the first point when assessing each company is this: is it a depository or a non-depositor...

Citigroup announced its ending their long-standing policies of "universal default and raising interest rates any time for any reason."  Citigroup's decision to end these policies comes on the hill of 2006 figures showing credit card debit topped $825 billion and Congress mulling over credit card...

I agree with the Wall Street Journal article. I had an article in Mortgage Servicing News in the February MBA Servicing Conference Issue title the "Perfect Storm in Defualt." My remarks and commentary are attached below.The issues raised in the Wall Street Journal article are applified and dimensioned...

Consumers don't directly pay interchange feesMost consumers are aware that merchants pay a percentage of the overall sale for each debit and credit card transaction as a fee to process their cards.

Two of HSBC's North American top chiefs have been fired (Bobby Mehta & Sandy Dickerson), in a move to turnaround the troubled U.S. consumer finance business. A few weeks ago HSBC issued a profit warning that it may have to incur charges exceeding $10 billion for the year, due to bad debts incurred...

Responding to rising mortgage delinquencies and foreclosures, S & P announced that it will now alert bond investors before foreclosures occur. This new alert trigger is an attempt to provide an earlier warning of losses on mortgage-backed bonds that consist of the highest yielding but riskiest mortgages....

1. Bank of America and others are acting in their economic interest;2. It is illegal to discriminate due solely to national origin;3. This kind of program ultimately will serve as an assimilation technique for illegal immigrants.

The new Congress appears ready to shine a brighter light on mortgage lending practices that some characterize as "predatory lending." In spite of rapidly rising home values over the past five years, the presence of historically low interest rates has allowed homeownership rates to expand to record...

This WSJ editorial is a persuasive, cogent response to the current Hill hearings on subprime mortgage delinquencies.  After expressing some doubts about certain attendees of the hearings, the author concludes that the major complaintants of subprime mortgages are the same folks who would be putting...