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S&P downgrades prime jumbo MBS

0 Comments Published June 25th, 2009 in News.

Standard & Poor’s Ratings Services said that it downgraded several securities backed by large, higher-quality mortgages, a sign the housing crisis has spread well beyond its subprime origins.

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« Paul B. Farrell: ‘Public Enemies’ run, not rob, our banks
Financial Stocks: Sallie Mae boosts sector, State Street in focus »
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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