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Lenders Want A Billion For Subprime Rescue

9 hours ago ago from Mortgage Rates & Mortgage Broker News in Canada

Thousands of Canadians will be unable to renew their subprime mortgages, despite never missing a payment. Now, some of the lenders who issued these mortgages want the government to pony up a billion dollars for a rescue package. That’s the gist of this story by the Globe: ‘Orphaned' homeowners face foreclosure It appears that a subprime lender lobby is trying to get the federal government to guarantee a billion-dollar fund to help ...

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Brother, Can You Spare a Dime (at 2,147% Interest)?

21 hours ago ago from Corporate Crime Daily

The Arizona Attorney General has sued payday lender QC Holdings for deceptive business practices and for lawsuits the company won through illegal filings. According to the AG’s office, the lender would loan money to defendants throughout Arizona (and in some cases to lenders as far away as Nevada) but then file collections lawsuits in a county far from where the lenders lived, in violation of state law. Since lenders would be less likely ...

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