Balloon Payments Are a Danger

Using “payday loans” as a business model, HFC and Beneficial Finance once used the model for second mortgages. Although it may not be the best deal for the borrower it is a sweet deal for the lender. American homeowners who never considered a loan from the shady underworld of “pawn your title” and “payday loans” …

AN open letter to HSBC's Alex Hungate

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC …

Credit card asset backed securities examined

Recent problems in the subprime sector spread around the world very quickly. Then the problems spread to Alt-A mortgages. Cash strapped borrowers with second mortgages and adjustable rate mortgages caught the attention of the world. By the morning of August 9, 2007, something else caught the attention of investors around the world. Questioning whether people …