Monday, October 16, 2006

new first to implement "new guidelines" / "kreditrichtlinien"

ich habe bisher ja leise zweifel gehabt ob die neuen kreditrichtlinien auch wirklich umgesetzt werden.
nun scheint es aber das einer der ersten "new century financial" diese leitlinien auch ernsthaft umsetzen will.

after the guidelines were released i have had doubts that they will be implemented. now "new century financial" is the first player that will follow the guidelines.

mehr zu new/more on new,,,

New Century Financial --an Irvine, Calif., sub-prime mortgage lender, said Thursday that "in light of recent regulatory guidance and the changing interest rate and housing environment," it will tighten underwriting standards; enhance "its process for confirming the income information on stated income loans"; and improve its disclosures to consumers. Almost 90% of the company's loans fall in the sub-prime category, while 17% of its loans are interest-only and 42% are so-called stated income (also known as a "liar loan" because it doesn't require pay stubs, W2s, tax returns or other Internal Revenue Service forms).

39.33 1.83 (4.45%)

New Century Financial Corporation to Adopt Additional Lending Best Practices Designed to Enhance Fair and Informed Access to Credit

"In light of recent regulatory guidance and the changing interest rate and housing environment, we have reevaluated our programs and practices and developed enhanced policies and techniques to reinforce our goal of providing fair and informed access to credit

rest of the story and more info from the great blog paper-money

letztendlich denke ich das unterm strich nur der mbs markt die broker und kreditgeber zur vernunft zwingen kann.

in the end it is the mbs marketr that will force the brokers and lenders to tighten their standarts.


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