Struggling homeowners who could benefit the most from the all-time low interest rates often don’t have the equity in their homes to qualify. Cynthia Bowers reports on the cruel paradox.
Duration : 0:2:48
Cruel paradox for struggling homeowners
What does it take to get a loan? How to get a mortgage loan.
What does it take to get a loan? Do you want to know how to get a mortgage loan in California? Watch the 5 secrets that will help answer the question “can I get a loan?” and give you insight on getting a mortgage in California. For more information visit us http://www.rmilending.com Rich iacovetta, RMi Lending
Duration : 0:3:51
China’s Subprime Mortgage Crash
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The Global Financial Crisis (GFC) started three years ago,
but China seems to be immune to it.
Under the tightening monetary policy,
many of enterprises are turning into shadow banks.
With the due date of loan sharking approaching,
the economic claps occur continuously.
Foreign media warned that the Chinese version
of the Subprime Mortgage Crash is approaching.
After the start of the GFC in 2008,
China began changing its monetary policy.
For small and medium size firms its difficult
to access the formal banking sector.
Instead, they loan money from shadow lenders
who are actually state companies.
The official sector can obtain money from state-owned banks
and issue loans to other borrowers with higher interest rates.
In addition, non state-owned shadow banks are expanding,
and more problems are being exposed.
Economists are worried that China is starting to follow
the pattern of the U.S.’ Subprime Mortgage Crash.
During the World Economic Forum held in Dalian last week,
a former vice chairman of NPC, Cheng Siwei said:
“China’s Subprime Mortgage Crash is the lending of money
to local governments which have no ability to repay them.”
It is estimated that 80% of the loans from the top four banks
in China go to state-owned firms.
But now China has different shadow banks, from state-owned
to individuals’ firm, most of them with officials’ background.
Local governments use state funds to invest in businesses,
and the funds are estimated to be ca. $1.7 trillion.
These shadow banks are outside the banking and financial
sectors and are thus less regulated or not regulated at all.
Economist Cao An thinks that the state-owned firms
have the advantage of funds.
They can lend the money through guarantee companies
or other platforms.
In this lack of credit system, once the problem is exposed,
it will be worse than what happened in the U.S.
Cao An: “The economic trend is at a low point,
small or medium-sized firms need plenty of funds.
But even with the loans it is difficult for them to make
60-100% profit and service the loan; this is a risk for lenders.
Therefore if the borrowers fail to service and repay the loans,
this will become a bad debt.”
China added new loans, adjusted to its GDP. They went up
to 200%, from 100% prior to Lehman Brothers’ collapse.
Subsequently, the bad debt rate raised
from 1% in the first half of 2010 to 4.9% in 2011.
Chen Zhifei, Economy Professor, New York City University,
points out experts’ analysis,
which shows 2011 as the most difficult year for China
since China’s open market economy had started.
According to a survey done by the Industrial Federation,
90% of the firms in China don’t get a penny from the banks,
and 95% of the private firms don’t get loans from banks
either, showing that funds allocation is not sound.
Chen Zhifei: “China’s fund distribution is for state-owned
enterprises, This policy exists for 10 to 20 years now.
After the GFC started, China had loaned
RMB 4 trillion for investments.
If these investments’ loans do not get repaid, they will turn
into bad debts and the country’s economy will collapse.”
Beijing economist Mao Yushi points out that although
the top four banks in China are controlled by the government, the accumulation of bad debts still occurs
Mao Yushi: “The companies borrow money from the banks
and lend them as high interest rate loans.
The problem is due to lack of interest rates’ market regulation.
It’s bureaucratic as it’s the privileged who can borrow money.
Most of the people can only borrow high interest rate loans,
this is the reason why the problem exists for so long.”
Mao Yushi thinks that the solution to these problems
is to open small and medium-sized banks,
and let people establish such banks as well,
not only the government.
NTD reporters Liang Xi, Li Ting and Wang Mingyu.
《神韵》2011世界巡演新亮点
http://www.ShenYunPerformingArts.org/
Duration : 0:3:54
Joe Dahleen Video Tag
About Joe Dahleen, Chief Strategy Officer
Joe is a visionary executive with over 20 years of professional experience as a mortgage banker and as a technology solutions leader. Throughout his career, he has been engaged in the application of technology in the mortgage industry.
Joe’s specialties include: marketing, social media, retail and wholesale mortgage lending, automated origination and compliance, e-signatures and electronic vendor management. He also has in-depth knowledge of automated underwriting; risk based pricing and secondary market execution.
Duration : 0:1:0
The Small Business Jobs and Credit Act One Year Later. Why America’s Small Businesses Need YOUR Help
http://www.504Experts.com It’s officially been one year since the Small Business Jobs and Credit Act was passed into law. While some good has come from it, there are a few things that have been pretty ineffective so far. The two things that frustrate Chris Hurn, the SBA 504 Loan Expert, the most are the First Mortgage Lien Pool (FMLP) Program and the SBA 504 Loan Refi Program.
You probably know that at Mercantile Capital Corporation we are not proponents of “big government” and increased regulations, but these two programs could be extremely effective when it comes to helping small business owners and the US economy. Plus, they have to do with the SBA 504 loan program which is a zero-subsidy program — it’s funded by borrower fees, not subsidized by the government. Right now, both the FMLP and the 504 Refi Programs are in need of our help. Watch this video to find out what needs to be done to make these programs more effective, and what we’d like YOU to do to help.
Duration : 0:6:28
Find A Good Mortgage Lender In Hernando County
Finding A Good Mortgage Lender in Hernando County is not easy. Steve Fingerman and his team of Mortgage Professionals in Spring Hill Florida makes it easier. For the best service when getting your Mortgage in Spring Hill FL call Steve Fingerman today at 3
Duration : 0:1:33
California Predatory Mortgage Lending Attorney Howard Law PC
http://www.howardlawpc.com – California predatory mortgage lending lawyer Howard Law PC advocates for homeowners who have experienced mortgage problems with banks and lenders.
Duration : 0:1:1
Golden Showers: Occupy Boston video from a mortgage industry professional.
http://mortgagemovies.blogspot.com/2011/09/kingcastmortgage-movies-checks-in-on.html .. And .. http://mortgagemovies.blogspot.com/2011/09/kingcast-and-mortgage-movies-return-to.html
Duration : 0:4:1
Clermont FL Mortgage Modifications Attorney Lake County Interest Principal Reduction Lawyer Florida
Bankruptcy attorney Joel L. Gross of Clermont Florida works exclusively in the area on bankruptcy. He helps people keep their homes by assisting them with mortgage modifications to reduce payments.
Duration : 0:1:4
Why are there no hearings holding congress accountable for the mortgage meltdown?
They enacted policies that demanded bad loans be made. Why isn’t Franklin Raines and other Fannie and Freddie bigwigs being called on the carpet. They were the biggest crooks of all and the very centrifuge of the crisis? why isn’t congress being cursed at for selling treasury bills that are not backed by gold or anything else. Why isn’t congress being held accountable for the social security ponzi scheme?
Hearings on such an issue would be held in Congress.
Congress is dominated by the people who made it happen.
It will not come up for accountability until they are significantly out of power.
________
Dave87 is lying.
I know many banking employees who complained about the new rules imposed upon them regarding this type of loans. This was mostly accomplished by an appearance of populist political pressure, generated by "community organizers," (read ACORN) until Congress became packed with people who would support these toxic measures.
Again, you have to remember that derivative loans started under FDR’s campaigning organizations and the then-newly-privatized Federal Reserve, were implemented by him as president, nearly became mainstream under LBJ and again later under Carter, exploded into the market under GHW Bush and Bill Clinton, and had too much momentum and Congressional protection for W to stop them (Besides, Cheney — a despicably evil man — was holding his leash too tightly). Obama _F_A_L_S_E_L_Y_ claimed to be the one who "blew the whistle on the subprime scandal," whereas the only whistle he would be blowing is the coach’s training whistle, as Obama was involved in promoting derivatives from the time of his entry into politics and personally led the drive to extend these toxic loans to impoverished and insolvent minority markets. Obama was the father and champion of the measures forcing banks to extend these loans to the highest risk markets. Except GHW Bush and D. Cheney, all of the proponents of subprime derivative loans were liberal/democrat.
All of this set the stage for its designed result — a false creation of wealth and exchange by very wealthy people of that false wealth for real wealth, which was then removed from the market, toppling the house of cards.
THIS is how it happened, and David either knows nothing about it or (more likely) is just plain lying. That is what liberals do and how they gain and retain power.
Incidentally, and not at all surprisingly, the "financial reform" package championed by Democrats and flatly rejected by Republicans, would provide for (and promote) a new expansion of derivative financing. It worked once to bring them power and transfer the wealth from us to them, so now they want to do it again.
You can thank Dave and others like him for diverting people’s attention from the facts by ridiculing those who publicize them.