Subprime lending

During the 1780s a series of problems arose in the United States pointing out the flaws in the Constitution. The inability to issue taxes and rebellions of poor white farmers left the United States in a serious crisis. Although these issues posed a serious problem at the time, they provided the much needed provisions to shape the newly formed government. When the United States was first formed, the government had no power to issue taxes on the people. This lead to the country falling further…

In the past year, our country has experienced economic challenges that have translated into major changes in the way law enforcement delivers services. Budget cuts for a significant number of law enforcement agencies have resulted in layoffs, furloughs, hiring freezes, retirement incentives, and operation consolidation or elimination. While agencies are determining how to best manage their shrinking budgets, these changes are impacting officers1 in various ways, such as creating larger patrol…

The improper accounting of commercial real estate loans by Fifth Third Bank and its former chief financial officer (CFO) during the financial crisis created a sense of distrust and uncertainties when was discover in 2013 between its shareholders and the members of the board of directors. The charges presented by the Security and Exchange Commission against the company was a significant hit for the company that in 2013 was trying to finally resurge from the financial crisis of 2008. Various…

Unless you are a member of Canada's privileged few, one of the initial steps on the road to becoming a mortgage free homeowner is obtaining a mortgage in the first place. And for those finding it increasingly harder to justify the recent returns on their investments, or their monthly rent cheque, now just may be the time to do so. In the Greater Toronto Area, listings were up by 26% for the first half of September. However, sales for the same area were down by 16% compared to last year at this…

Since the great recession, the real estate market collapsed and there have been problems in the housing market. People were starting to roommate with others or rent apartments. Almost everyone wants their dream home but can they really afford it? The focus of this economic analysis paper is to apply supply and demand for the housing market. Due to the problems in the housing market, there has been a shortage of skilled construction workers. “New home construction fell by 11%, resulting in a…

5 Foreclosure Myths – Debunked Defaulting on your home is always a scary situation. Not only do you have to worry about moving and having a new place to live, but you have to worry about your credit score and ability to buy a home in the future. Unfortunately, myths regarding foreclosure tend to make this stress and anxiety even worse. Luckily, here are 5 foreclosure myths we have debunked. Myth 1: It's a Fast Process One of the biggest myths regarding foreclosure is that it is something that…

Owning land is an important part of the American Dream for many families, but even the smartest landowners don’t always know the full story of exactly what their property deed entails. And if you do own land, that's not a good thing. That’s where the right team of property surveyors can help. If you live in the greater Hudson Valley area, Fusco Engineering & Land Surveying can assist you in identifying all of the nuances of what land ownership means for your situation. Here are three reasons…

Customarily, these types of bankruptcy settlement deals don’t result in a payment of 100 cents on the dollar. Instead, the recipient “takes a haircut” by accepting a very small settlement. For example, Eric Dinallo negotiated a similar settlement of credit default swaps when he was the Insurance Superintendent for the state of New York. At his behest, Merrill Lynch settled a case for only 13 cents on the dollar from a company “XL Guarantee.” Although, this time around, Merrill Lynch received…

Since the 2008 financial crisis, the general public has received a crash course in economics. Terms such as, “sub-prime,” “credit default swap,” and, “confidence” have been injected into the common vernacular. While the sub-prime mortgages and credit default swaps that contributed to the crisis are now often spoken about in the past tense, “confidence” continues to be at the forefront of economic discussion. This August, Bank of Canada Governor Mark Carney spoke of Canadian companies sitting…

Thesis: The actors involved in the Great Recession as well as those that facilitated the current Chinese real estate bubble have yet to face any criminal prosecution; which stands in disproportionate contrast to the hundreds that were jailed in the better handled Savings and Loan Crisis that was significantly less impactful on the global economy. The recent 2008 Financial Crisis, dubbed the Great Recession, has been one of the worst financial panics to grip this nation since the Great…