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Cohen notes that in the early 1990s, when the last wall of high prices began to crack, mortgage rates were much higher than they are today.
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This was designed to encourage banks and building societies to offer mortgages again after the credit crunch saw them crack down on high LTV loans.
WASHINGTON, Nov. 15 (AP) — With home foreclosures skyrocketing, the House on Thursday voted to crack down on mortgage lenders by enacting federal licensing and to fine them for steering people to risky subprime loans when other financing is available.
When the subprime crisis convinced government agencies to crack down on mortgage companies, Lifetime Financial and founder Pony were among the first targets.
Buy-to-let landlords will get hit with a crack down on mortgage tax relief, but they'll probably raise your rent to make up for this.
Mr. Lippmann emerged as a Cassandra of the financial crisis, spotting cracks in the mortgage market as early as 2006.
He did something radical: He actually cracked open the mortgage securities and looked at what was inside.
He also lobbied for the repeal of financial regulations and, perhaps most famously, sidelined colleagues who wanted to crack down on easy mortgage lending.
We need to enforce trade agreements and safety standards, crack down on abusive mortgage lenders and place a moratorium on foreclosures.
Mr. Greenspan, who led the Fed for 18 years until his retirement in January 2006, has been criticized for not using the central bank's regulatory powers to crack down on subprime mortgage lending.
Another crack in the subprime mortgage market appeared to have been patched yesterday as two French banks bought out a bond-insurance company that has exposure to the mortgage crisis.
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