: Http://finance., according to the United States media reported yesterday, the real estate market downturn's impact on American housing mortgage loan markets have been volatile. Over 20 large company has announced no longer making new loans, many large companies have dropped considerably in stock.
Local time 12 March, the United States's second-largest subprime mortgage enterprises-new century Financial Corporation announced that, due to banks and other investors have or intend to interrupt financing, combined with the huge debt is about to expire, companies from bankruptcy and a step closer. The company indicated that more and more people are in arrears in the payment of loans. Company's stock over the past three weeks has fallen by half, has fallen to only $ 3.21 per share.
According to the United States Securities and Exchange Commission 12, published a paper, new century Financial Corporation must be repaid within a short time 84 billion in debt, but the company says there is no sufficient cash flow to pay these debts. In addition, the company had to stop accepting new applications for home loans.
Good Friday is not just new century Financial Corporation, United States, the largest mortgage company, National Bank Financial Inc. and the United Kingdom to subprime credit lenders offer loan of well-known financial institutions, also faced heavy pressure. The Fed members than the United States, recently said that the sub-prime mortgage lending market may have only just begun.
In the United States, subprime mortgage loans in the company's customers are primarily cannot meet strict credit standards of the buyers. Previous years real estate bubble era, many lending institutions have relaxed the requirements of the lending criteria. But since the end of the 2005 United States real estate market began to cool, the phenomenon of a large number of non-repayment, so that the industry has been hit. Last year, 35% of the loan is part of the subprime mortgage loans.
Although the mortgage market was in danger, but some Wall Street companies and entrepreneurs are still, as always, for a full of uncertainty of mortgage loans, the majority of housing mortgage loan risk higher. To this end, many market analysts have warned. Economic and housing Adviser Thomas · Laurent Le said the problem now is not the mortgage market crash, but the mortgage lending industry has been crazy, and the consequences will be crazy.
It is understood that the United States housing mortgage loan market size up to 6.5 trillion, United States national debt market, current credit poor borrowers receive subprime mortgage loans have 12.6%.
In order to appease the market, the United States Deputy Secretary of the Treasury Robert · Steele 12, said that the United States Government is paying close attention to the subprime mortgage industry issues, and believes that the current situation is "control".
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