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20 Percent of Subprime Mortgages May Fail, Foreclose

A Center for Responsible Lending (CRL) study found that one in five subprime loans issued during 2005-2006 will fail, with over two million homeowners at risk for foreclosure as a result.

A study conducted by the Mortgage Bankers’ Association (MBA) also found that subprime mortgages were experiencing higher rates of delinquency in the past twelve months.

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This entry was posted on Sunday, April 15th, 2007 at 9:31 am and is filed under General Issues, Watchdog Issues. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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