Tag Archives : subprime mortgages

The Story of Success and Failures of New Century Financial

The Story of Success and Failures of New Century Financial

The Newcentury Financial Corporation achieved a name in real estate financing in very short tenure, and becomes the 2nd larget in the field. However they failed to keep their success for the reasons of improper practices and unsecured loans. However there is no crimnal charges proved against the company authorities, still some illigal practices reported which caused in such a heavy loss.

Dangers Inherent in Payment Option ARMs

Dangers Inherent in Payment Option ARMs

ARMs were intended to borrowers with irregular income. However, when these borrowers in year six find it hard to refinance their mortgage due to negative equity may be tempted to walk away from the home, leading to lose to the investor.

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