Friday, September 14, 2007
Source: ft.com
Real estate investors made the most of a revenue generating market for commercial mortgage-backed securities. Debt at times tops 90 percent of a deal's value when lenient lending standards for the loans in private equity industry have underpinned inexpensive financing on transactions. Now the steady market has allowed private buyers aggressive debt structure to contend for expensive properties. Deals under the called off contracts which were delayed has spiked. Recent purchases have given rise to the borrowers in the commercial mortgages to about 6.3 percent from 5.5 percent. While major companies flipped the assets just in time more than fifty billion dollars of deals still stay with the real estate industry's pipeline
posted by nisha
@ 12:16 AM
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Thursday, September 06, 2007
Source : courant.com
Around seven companies and individuals were sued by the state over charges that they planned an elaborate scheme to deceive low-income borrowers into taking on mortgages not affordable and forced to foreclosure. Attorney General Richard Blumenthal and Banking Commissioner Howard Pitkin told that they enticed consumers with false promises of earnings from asset rental properties and nonexistent management services. Blumenthal said the potential home buyers were tempted to buy properties listed at inflated values, with hidden costs they could not pay for because of the falsified assets and income. He also told that most of the borrowers failed to find renters and could not afford tax payments. He included that the state nearly three dozen borrowers alleged in this scam involving a huge amount of money. He added that the target audience who fell prey were first time primitive low income buyers who were non English speakers or speak little English.
Around seven companies and individuals were sued by the state over charges that they planned an elaborate scheme to deceive low-income borrowers into taking on mortgages not affordable and forced to foreclosure. Attorney General Richard Blumenthal and Banking Commissioner Howard Pitkin told that they enticed consumers with false promises of earnings from asset rental properties and nonexistent management services. Blumenthal said the potential home buyers were tempted to buy properties listed at inflated values, with hidden costs they could not pay for because of the falsified assets and income. He also told that most of the borrowers failed to find renters and could not afford tax payments. He included that the state nearly three dozen borrowers alleged in this scam involving a huge amount of money. He added that the target audience who fell prey were first time primitive low income buyers who were non English speakers or speak little English.
posted by nisha
@ 4:41 AM
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