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Special section Subprime mortgage industry meltdown

Take an in-depth look at how the subprime mortgage industry rose and fell in this special section from Bankrate.com.

Introduction

Subprime mortgage industry meltdown
 

There's no doubt that subprime lending opened up the possibility of homeownership to a bunch of people, and most of them are going to stay homeowners. That's a good thing for them as individuals and for society as a whole.

But there are going to be many people -- perhaps millions -- who will lose their homes as a result of wink-wink lending to gullible or fraudulent buyers, with harsh individual and national economic consequences. It's something that many saw coming, but no one -- not the industry, not the secondary market, not the regulators, or the media -- did anything to prevent it.

This special series of stories from Bankrate looks at the subprime market meltdown, how it came about, and what's being done to limit the damage.

Subprime mortgage industry meltdown
Federal debate
  As the federal government reviews ways to avoid future problems in subprime lending, one thing is clear: There's plenty of blame to go around for today's woes.
Lender implosion
  The industry has itself to blame for much of the mortgage meltdown. No one could think of a reason to say "no" to iffy borrowers.
Consumer impact
  With tighter lending standards and real estate in a slump, buyers with subprime mortgages they can't pay are short on options.
-- Posted: April 18, 2007
   

 RESOURCES
7 mortgage tips for 2007
It's 'buyer beware' on subprime loans
20 red flags for predatory loans
 TOP MORTGAGE STORIES
Winner or loser: Mortgage shopper
Winner or loser: Home equity loans
Winner or loser: Auto loans




INTRODUCTION
 
 
 
Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.32%
15 yr fixed mtg 3.36%
5/1 ARM 3.37%
Rates may include points
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