Subprime mortgage

[Misha]

Что это такое ? Какой-то кризис разразился на рынках, кто в этом теряет ? Речь идет о заемах под имеющиеся моргиджи или что-то другое ?

[Gatchinskiy]

Что это такое ? Какой-то кризис разразился на рынках ...

в ване все спокойно, релакс ...

Речь идет о заемах под имеющиеся моргиджи или что-то другое ?

речь идет что надавали моргиджи всем кому попало, закрыв глаза на кредитную историю дав их под более высокий процент, с нулевым дауном итд, и если гавкнется то они полетят первые ...

[Tanya Urbaniak]

Речь идет о тех кто, в силу каких-либо причин, не квалифицируется на традиционный мортгидж. Причины: низкий кредитный рейтинг, банкротство в прошлом, нестабильные доходы и т.д. То есть такие случаи нужно рассматривать индивидуально и искать другие пути получения мортгиджа. Возможно, выход будт в вовлечении частного инверстора или нахождения финансового института который согласен рисковать там где другие отказались (за определенную плату или условия, как правило)

Да, этот рынок претерпевает изменения. То есть становиться сложнее получить моргидж тем кто не квалифицируется на традиционный мортгидж (или квалифицируется, но на гораздо меньшую сумму чем того хочется). Скорее всего вина тому кризис на аналогичним рынке в США. Как мне кажется организации выдающие мортгиджи на этом рынке становятся более осторожными.

Происходящее кризисом я бы не назвала. Слишком громкое слово.

Все же мортгидж дело индивидуальное, и лучшуй способ обратиться к специалисту который рассмотрит ваш случай и ваши шансы столкнуться с или забыть о проблемах subprime, так как вас это не касается.

*Информация поступила из компетентного источника, но я не уверена можно ли ее трактовать официальной.

Zen, В миру Таня Урбаняк - риэлтор

[Fed]

Что это такое ? Какой-то кризис разразился на рынках, кто в этом теряет ? Речь идет о заемах под имеющиеся моргиджи или что-то другое ?

subprime mortgage financial crisis refers to the sharp rise in foreclosures in the subprime mortgage market that began in the United States in 2006 and became a global financial crisis in July 2007. Rising interest rates increased newly-popular adjustable rate mortgages and property values suffered declines from the demise of the housing bubble, leaving home owners unable to meet financial commitments and lenders without a means to recoup their losses.

The sharp rise in foreclosures after the housing bubble caused several major subprime mortgage lenders, such as New Century Financial Corporation, to shut down or file for bankruptcy, with some accused of actively encouraging fraudulent income inflation on loan applications, leading to the collapse of stock prices for many in the subprime mortgage industry, and drops in stock prices of some large lenders like Countrywide Financial.

Subprime lending is a general term that refers to the practice of making loans to borrowers who do not qualify for market interest rates because of problems with their credit history or the ability to prove that they have enough income to support the monthly payment on the loan for which they are applying. Subprime loans or mortgages are risky for both creditors and debtors because of the combination of high interest rates, bad credit history, and murky financial situations often associated with subprime applicants.

The final recent trend in housing finance in Canada relates to the development of the subprime mortgage market. While subprime mortgage loans represent a small fraction of the mortgage market in Canada (estimated to be less than 2% of the total mortgage loan outstanding in 2005 Q1), many of the niche lenders which offer subprime mortgage loans have experienced rapid growth in the past five years. To date, subprime lenders in Canada have mainly focused on the near-prime market, often referred to as “Alt-A” or “A minus”, ie borrowers with a good credit history but limited documentation regarding their income or employment. This, associated with the current benign economic environment, may help to explain the low level of delinquency rates on subprime loans in Canada compared to those in other industrialised countries.

[Fed]

Debt market woes heighten fears for economy

JOHN PARTRIDGE AND BOYD ERMAN

Globe and Mail Update

August 23, 2007 at 10:20 PM EDT

The freeze-up in short-term lending that is battering Canada's Coventree Inc. is spreading fast in the U.S. and Europe, raising concerns about slower economic growth and the strain on banks that have agreed to back the commercial paper that suddenly nobody wants to buy.

Thursday, the list of Canadian companies that have said they can't get the money they are owed after purchasing so-called asset-backed commercial paper (ABCP) from Coventree and other sources again got longer.

Among those that revealed exposure were the Greater Toronto Airports Authority, which has about $249-million of ABCP, some run by Coventree. Société générale de financement du Québec, the investment arm of the Quebec government, said it holds $137-million of non-bank ABCP, about 40 per cent of its cash, sold to it by National Bank. As well, Air Canada said it had $37-million of ABCP, out of $1.4-billion in total cash, and Russel Metals Inc. said it is owed $11-million.

The concern now is that companies whose cash balances are locked up in Coventree investments may be forced to delay spending, slowing economic growth. The problem would be compounded if companies that borrow directly in the commercial paper market to fund day-to-day operations are unable to find buyers. But bond salesmen say well-regarded borrowers are able to find takers for their short-term IOUs, though at a higher interest rate than a few weeks ago.
Coventree has abandoned plans to open a retail bank, or invest in any new operations, as its revenue sources dry up amid credit crunch.

“It doesn't take much of a hesitation on the part of businesses and spending or hiring to begin to show up in the economic data,” Ted Carmichael of J.P. Morgan Securities Canada Inc. warned in an interview. “As long as the commercial paper market remains seized up, the risks that the economy could slow down quite sharply are rising in both the U.S. and Canada.”