Download or read book Mortgage arrears and access to mortgage finance written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2009-08-08 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report focuses on households affected by the recession, struggling with mortgage arrears or at risk of repossession. The role of the Financial Services Authority (FSA) is also scrutinised. The report notes that both mortgage arrears and repossession levels are on an upward trend and that both are expected to continue rising over the next few years as a result of the recession. The Committee acknowledges that many mainstream lenders are taking pro-active steps to support consumers in mortgage difficulties, but expresses concern at the lack of flexibility and forbearance shown by some lenders in the sub-prime, specialist and second charge sectors towards homeowners in arrears, and the fact that some lenders are charging high and excessive mortgage arrears fees to customers who fall into mortgage difficulties. The FSA should take a much more robust stance towards tackling and eliminating unfair arrears charges. The report criticises the seemingly leisurely approach of the FSA in terms of completing its mortgage arrears review and enforcing possible breaches in the mortgage arrears rules. It calls upon the FSA to spell out clearly in its forthcoming review how it will improve its performance in terms of bringing miscreant firms to book. The report recommends that the Government re-examine its longer-term strategy towards supporting homeowners in mortgage difficulties to ensure that adequate mechanisms to support homeowners are in place even once the current downturn has ended.

Download or read book Mortgage Arrears and Access to Mortgage Finance written by Great Britain. Parliament. House of Commons. Treasury Committee and published by . This book was released on 2009-11-04 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government & FSA responses to HCP 766, session 2008-09 (ISBN 9780215541840)

Download or read book Mortgage Arrears and Possessions written by Janet Ford and published by Stationery Office Books (TSO). This book was released on 1995-01-01 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mortgage Arrears and Possessions

Download or read book Resolving Residential Mortgage Distress written by Mr.Jochen R. Andritzky and published by International Monetary Fund. This book was released on 2014-12-17 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: In housing crises, high mortgage debt can feed a vicious circle of falling housing prices and declining consumption and incomes, leading to higher mortgage defaults and deeper recessions. In such situations, resolution policies may need to be adapted to help contain negative feedback loops while minimizing overall loan losses and moral hazard. Drawing on recent experiences from Iceland, Ireland, Spain, and the United States, this paper discusses how economic trade-offs affecting mortgage resolution differ in crises. Depending on country circumstances, the economic benefits of temporary forbearance and loan modifications for struggling households could outweigh their costs.

Download or read book Mortgage Repayment Difficulties written by Building Societies Association and published by Building Societies Associat. This book was released on 1985 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Understanding Mortgage Arrears written by Andrew Gall and published by . This book was released on 2009 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Which Way Out written by Janet Ford and published by . This book was released on 1995 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Curbing Predatory Home Mortgage Lending written by United States. Department of Housing and Urban Development and published by . This book was released on 2000 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mortgage Arrears and Possessions written by Great Britain. Department of the Environment and published by . This book was released on 1995 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mortgage Lending Reform written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2009 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Role of the Lending Industry in the Home Foreclosure Crisis written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Commercial and Administrative Law and published by . This book was released on 2010 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Empirical Model of Household Arrears written by John D. Whitley and published by . This book was released on 2004 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Local Authorities Mortgage Lenders and the Handling of Arrears and Possessions written by Joint Working Group of the Council of Mortgage Lenders and the Local Authority Associations and published by . This book was released on 1993-03-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Has the Mortgage Pendulum Swung Too Far Reviving Access to Mortgage Credit written by Patricia A. McCoy and published by . This book was released on 2017 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the financial crisis, mortgage lending to lower-income and minority borrowers overcorrected and has not recovered. While homeownership is a riskier investment than previously realized, still it remains a proven path to increased wealth on balance for lower-income households. There are a number of reasonable reforms that could achieve greater access to credit while containing default risk. These include strategies to reduce down payments safely and to keep monthly payments manageable, combined with fixed-rate loans. Pre-purchase counseling is important to preparing applicants for the financial demands of homeownership and strengthening their credit histories, while rapid foreclosure prevention counseling can reduce foreclosures dramatically for borrowers who miss payments. In addition, larger, structural changes to the lending industry, mortgage regulation, and housing finance are needed to remove artificial institutional barriers to the flow of responsible credit. In the short term, these include countercyclical rules to minimize credit bubbles and investor reforms to alleviate lenders' liability concerns for inadvertent misrepresentations and minor underwriting errors affecting loans. In the longer term, mortgage finance could be re-envisioned to integrate housing counselors, real estate professionals, and economists into the mortgage supply chain to produce better borrowing decisions at favorable pricing. Closing the circle, ensuring an adequate supply of affordable rentals would give lower-income households the flexibility they need to make the right housing decisions for their personal circumstances at each stage of their lives.

Download or read book Mortgage Market Review written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Housing Finance Mechanisms in Indonesia written by and published by UN-HABITAT. This book was released on 2008 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reducing Foreclosures written by Christopher Foote and published by DIANE Publishing. This book was released on 2009 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Takes a skeptical look at a leading argument about what is causing the foreclosure crisis and what should be done to stop it. The authors focus on two key decisions: the borrower's choice to default on a mortgage and the lender's subsequent choice whether to renegotiate or modify the loan. Unaffordable loans, defined as those with high mortgage payments relative to income at origination, are unlikely to be the main reason that borrowers decide to default. The efficiency of foreclosure for investors is a more plausible explanation for the low number of modifications to date. Policies designed to reduce foreclosures should focus on ameliorating the effects of job loss rather than modifying loans to make them more affordable on a long-term basis. Illustrations.