Ask MetaFilter questions tagged with subprime

Looking for lost infographic on companies' market share in subprime market

Askr — Thu, 23 Oct 2008 10:04:49 -0800

Looking for an infographic I once saw that showed the market share of the major players in the subprime market and the money they'd lost. In September, I think, I saw a great infographic in a major publication online that showed the market share of the major players in, I think, the secondary subprime market. Could have been broader than just the subprime market, but it was all the names you saw in the news that were being affected by it due to their holdings. I could have sworn it was on the NYT's site but haven't been able to find it there again.

It was 2D, but I think maybe interactive with rollovers. Each company, such as Lehman, Merrill, Fannie/Freddie, etc. were represented by differently colored squares of different sizes that represented proportionally their share of the market, or perhaps their overall market value? The squares all together represented the size of the whole market. The grid took up most of the screen, but there was a thinner vertical strip to the left with some other info.

And there was information about the value of these companies at some point back in the Safe Time When Things Were Good, and then now (September whatever, in the thick of the meltdown.) So one or two of the companies' values were listed as zero because they had gone bust. I don't think that's what the square size represented - I think size represented their share of the market - but I think the real point of the infographic was to show the comparative drops in value of all of these companies in the subprime boat together.

Did you see this? Do you have a link? Thanks.

Borrower seeks Lender (of costume ideas)

cazoo — Thu, 09 Oct 2008 10:26:58 -0800

Costume Filter: I'm going as the subprime mortgage crisis this year. Need some help figuring how to pull this off. So how would I go this Halloween as the subprime mortgage crisis? Any ideas?

How likely is MY bank to fail in the coming months?

croutonsupafreak — Sat, 12 Jul 2008 19:11:52 -0800

How can I evaluate the financial health of a US bank using publicly available records? I know that I'm being paranoid, but the news that the failure of a single US bank could wipe out 10 percent of FDIC's deposit-insurance fund, and that more banks are expected to fail in the coming year, has me worried about the safety of my heard-earned dollars.

I'd like to get a feel for which banks have the most exposure to subprime loans and financial shortfalls because of the housing downturn. Not sure if there's anything else I should consider as I begin my research. How do I begin?

Robbing Peter to pay Paul

Anonymous — Sun, 16 Mar 2008 08:52:59 -0800

Refinance my mortgage filter. Should we do it or wait a little while longer? We have 2 home loans, one fixed (340,000 at 6.125, year 3 of 30 year) one Interest Only (100,000 at 4.65, year 2 of 10 ). We are considering refinancing and locking in the whole amount in a 30 year fixed. We have been quoted 6.5% for the whole amount (440,000) for the 30 year fixed.

What events on the horizon should I be aware of? Should I wait a month or two or just go for it? What would you do? How should I be thinking about doing this?
The whole mortgage meltdown because of sub prime lending has me freaked out. Should I be?

subprime definition

otio — Wed, 12 Dec 2007 06:29:51 -0800

Dear bankers and other financial experts: What is the basic definition of a subprime loan? I've seen "at least 2 points above prime," "at least 3 points above prime," "between 2 and 5 points above prime." Is there a single definition or does each bank define subprime differently? Related question: Is there a standard dictionary or encyclopedia of financial terms that you can recommend for these sorts of questions? Thank you.

Subprime lender in New York?

torticat — Tue, 24 Jul 2007 13:04:51 -0800

I am looking for a mainstream lender that deals in borderline subprime loans. Any ideas? I need to refinance a large mortgage in NYC, switching from an investment loan on a multi-family building to owner-occupied. Am looking to take cash out, and am borderline qualified for the resulting loan.

I've talked to the current mortgage-holder (Wells Fargo) but am looking for a better deal than they have offered. I'd prefer not to use a mortgage broker because the loan is large and we can't afford the points.

Has anyone here had recent experience with a bank that was willing to work with a borrower like me? Excellent credit, perfect payment record, decent income--but looking for what may be considered a subprime loan because of iffy property values?

Any mefi loan officers in New York who might be interested in talking, email's in profile. Thanks!

Going for broke

Joe Invisible — Mon, 02 Apr 2007 09:35:43 -0800

Why are subprime mortgage lenders in trouble? If a borrower fails to make payments on a mortgage, the lender can foreclose and recover the amount loaned by selling the property. I understand that subprime lenders deal in riskier loans, but as long as they can take the property, why are the lenders going broke?