BOSTON (MarketWatch) — The office of Massachusetts Attorney General Martha Coakley said it plans to hold a press conference on Monday to announce a multi-million-dollar settlement with Goldman Sachs Group Inc. . “The settlement, which includes both a monetary payment and extensive relief to homeowners, is the result of the Attorney General’s ongoing investigation of the role of investment banks in the origination and securitization of subprime mortgage loans,” according to a statement. Goldman Sachs shares were off by 1% in recent trading.

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This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

Mortgage Lender Implode-o-Meter






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