World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Banks Push Home Buyers to Put Down More Cash
Keywords:
An analysis done for the Wall Street Journal by real estate portal Zillow.com, shows the median down payment in nine major U.S. cities rose to 22% in 2010 on properties purchased with conventional mortgages. Banks favor higher down payments today because it reduces the chances of delinquencies. Median down payments were at about 20% in 1990, then the payments declined in the nine cities Zillow looked at: Chicago, Stockton, Las Vegas, Miami, Phoenix, San Diego, San Francisco and Tampa. The drop went as far as 4% in 4th quarter 2006, and in some places close to zero. Experts say these are the markets where more home buyers are under water. A 2009 study by the Federal Reserve Bank of St Louis shows that buyers with smaller down payments are more likely to default in unfavorable economic situations. A contributing cause of the 2008 sub-prime mortgage crisis was the very low down payments. Federal Deposit Insurance Corporation chairwoman Sheila Bair, says she supports minimum 20% down payments.
U.S. banks and higher home buyer down payments
02/16/2011
Down payments banks require from home buyers in the U.S. is now at 22%. The trend to lower down payments helped contribute to the sub-prime mortgage crisis.
Grouped Articles
New York Times 01/05/2014
J.P. Morgan Loosens Terms for Jumbo Mortgages
Wall Street Journal 08/05/2015
Banks Push Home Buyers to Put Down More Cash
Wall Street Journal 02/16/2011
FDIC Proposes Rule to Tie Banks to Mortgage Risk
New York Times 03/30/2011
2008 subprime mortgage securities financial crisis
08/05/2007
Financial crisis from the widespread distribution of securities created from pools of subprime mortgages in the portfolios of finacil institutions around the globe. How credit rating agencies helped create the crisis by giving A ratings to these securities which were then widely distributed as credit worthy.
Grouped Articles
BusinessWeek 04/01/2010
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
S. & P. E-Mails on Mortgage Crisis Show Alarm and Gallows Humor
New York Times 02/05/2013
S&P to Pay $1.5 Billion to Resolve Crisis-Era Litigation
Wall Street Journal 02/04/2015
Wall Street Journal 02/27/2008
Obama's plan for a new consumer protection agency with needed powers.
07/15/2009
One of the lessons of the global economic crisis is the need to protect consumerts to protect the economy as a whole. A system of lobbying and campaign contributions by the banking industry to members of Congress kills action in the public's interest. A dysfunctional system of consumer protection with powers and responsibilities spread over many federal agencies and no accountability, tends to put banking interests first, leading to the problems in the current crisis with subprime mortgages.
Grouped Articles
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
New York Times 07/20/2009
Health-Care Firms Have Supported Lawmakers Debating Reform
Washington Post 07/21/2009
Dana Milbank - Washington Sketch: GOP's Steele Couldn't Have Said It Better Himself
Washington Post 07/21/2009
Consumers Need a Credit Watchdog
BusinessWeek 07/15/2009
That Promised Financial Reform
New York Times 10/14/2009
Negative equity and near zero down payments as the major causes of U.S. foreclosures and the housing crisis, more than subprime loans.
01/05/2009
Research showing that negative equity and zero down payments are the biggest cause for surge in U.S. foreclosures.
Grouped Articles
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
New York Times 01/05/2014
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
J.P. Morgan Loosens Terms for Jumbo Mortgages
Wall Street Journal 08/05/2015
New Evidence on the Foreclosure Crisis
Wall Street Journal 07/03/2009
One in Four Borrowers Is Under Water
Wall Street Journal 11/24/2009
The homeowner lending boom pushed by unscruplous elements turns out to be a scourge for minorities.
10/11/2007
HUD Sec. Shaun Donovan calls the subprime lending a scourge for minorities, as foreclosures are hitting the minority neighborhoods the hardest. It may even widen the disparity in incomes between minorities and whites as the middle class black homeowners in places like New York State are losing ground.
Grouped Articles
Racial Wealth Gap Widened During Recession
New York Times 04/28/2013
What would MLK say to President Obama? - The Washington Post
Washington Post 08/28/2011
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
Economic Recovery Yields Few Benefits for the Voters Democrats Rely On
New York Times 05/19/2014
New York Times 05/19/2014
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us