There’s a Globe editorial out today criticizing subprime lenders (you know, the guys who did the unthinkable – allowing Americans to buy their own homes!).

Mortgage originators who specialize in subprime loans are the buffalo hunters of the financial services industry. They aren’t queasy about tactics, and they rarely seem concerned about the havoc they leave in their wake …

… The normal “buyer beware” admonition offers insufficient protection. For two decades, mortgage underwriting has shifted away from traditional banks and toward aggressive mortgage companies that don’t operate within the culture of consumer-friendly community reinvestment acts.

Suddenly borrowers find themselves squeezed by high-interest, adjustable mortgages on one side and by falling real estate values on the other.

(Yes, “suddenly”!)

Who are these people who prey on the unsuspecting?

The Globe names a couple of the big players.

Countrywide, GMAC, Washington Mutual, HSBC, and Wells Fargo

Oddly, the Globedoesn’t mention one of the biggest subprime lenders. Ameriquest.

Why would they do that? Was there someone the Globe didn’t want to piss off?

 

Oh, right. That guy who was on the board of directors of Ameriquest, a couple years’ back.

Tip: Who was that mortgage lender? – Squaring The Boston Globe

Source: A workout for dubious lenders – Boston Globe editorial

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Updated: 1st Q 2018

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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