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Answers - Sub prime Mortgages: Baseless Commitments
"Waiter, I'll have a sub-prime steak; make it medium-rare". Order with those words and your waiter will check you for two heads. If you eat meat, you want the prime-cuts. In fact, no one wants sub-par unless you're playing
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
golf.
So what motivates mortgage loan officers toward sub-prime lenders? Money of course! Typical capital formula: the greater the risk the greater the return.
Mortgage lenders weigh risk, return, and value. They risk loa
So what motivates mortgage loan officers toward sub-prime lenders? Money of course! Typical capital formula: the greater the risk the greater the return.
Mortgage lenders weigh risk, return, and value. They risk loa
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ning money that may or may not get repaid. They risk loaning money at a rate that falls well below fluctuating interest rates over 30 years. They risk loaning money on real estate properties that lose value.
High risk loan
High risk loan
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
s recommend high rewards. Commissions are issued and the home buyer or refinance candidate gets or keeps their home.
Suspicious lending practices put the buyer at risk. The loan document may bury the facts. "Just sign here
Suspicious lending practices put the buyer at risk. The loan document may bury the facts. "Just sign here
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
You can move into your new house next Monday." No reason to heed "truth-in-lending"; get the sale, "seal the deal" because the borrower pays no matter what.
Predatory lending practices bring further harm to families hopin
Predatory lending practices bring further harm to families hopin
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
g to fulfill their dream of home ownership. Families with poor credit histories suffer further economic and social stigma. Maybe they should know better, but who will tell them?
According to "Inside Mortgage Finance", sub-
According to "Inside Mortgage Finance", sub-
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
prime mortgage originations have increased 10 fold since 1997. During 2006 & 2007, 25% of all mortgage originations were sub-prime.
Subprime usually means that a loan is approved for borrowers with "tarnished credit profil
Subprime usually means that a loan is approved for borrowers with "tarnished credit profil
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
es".
As you know from "Have you checked your credit score" advertisements, FICO (credit scoring system developed by Fair Isaac & Co.)scores guide loan officers when assessing a borrowers creditworthiness. Like the Scholast
As you know from "Have you checked your credit score" advertisements, FICO (credit scoring system developed by Fair Isaac & Co.)scores guide loan officers when assessing a borrowers creditworthiness. Like the Scholast
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
c Aptitude Test, the higher the score, the better (850 tops; 300 not so good). Subprime loans are approved for borrowers with FICO scores at or below 600.
Families lacking financial resources wanting a home are easily enti
Families lacking financial resources wanting a home are easily enti
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ced by the sub prime lender. It all starts with a phone call by savvy telemarketers promising loan approvals on a $400,000 house in East Flatbush (Brooklyn, NY) to a bus driver. A non-profit organization study indicates tha
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
t just about 50% of the loans in East Flatbush are sub-prime.
Karl Dorismund said, "From the beginning they (the lender) tell me the mortgage will be $2,000 or 2,100 a month. Can you believe how much it is? $2,900!"
Mr. D
Karl Dorismund said, "From the beginning they (the lender) tell me the mortgage will be $2,000 or 2,100 a month. Can you believe how much it is? $2,900!"
Mr. D
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
orismund signed a high-interest mortgage with no-money down. In my Town (Essex, MA), 10% to 20% is necessary before a loan is approved.
Cathy Mickens, an advisor to first time home buyers says, "On any one block, we might
Cathy Mickens, an advisor to first time home buyers says, "On any one block, we might
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ee...three or four for sale signs....we didn't see this last year at this time."
A study by a New York non-profit reveals that the loan patterns for poor and minority neighborhoods. has the highest concentration of sub-pri
A study by a New York non-profit reveals that the loan patterns for poor and minority neighborhoods. has the highest concentration of sub-pri
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
me loans with the highest level of defaults. Borrowers bailout.
Sub prime lenders don't like moral solutions. It is immoral to entice borrowers with light burdens at first only to break their backs later. It's all in the s
Sub prime lenders don't like moral solutions. It is immoral to entice borrowers with light burdens at first only to break their backs later. It's all in the s
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
mall print, and the details seldom are mentioned to the sub prime borrower.
Subprime lenders made $587 billion in new mortgages in 2004, up from $390 billion in 2003, according to National Mortgage News.
Mortgage marketin
Subprime lenders made $587 billion in new mortgages in 2004, up from $390 billion in 2003, according to National Mortgage News.
Mortgage marketin
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
g by sub prime lenders reminds capital markets that the less-educated city dweller gets trapped by socio-ecocnomic limitations. Less fortunate people need helping hands. This does not mean setting them up for failure; this
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
eans creating opportunity.
Habitat For Humanity affiliates provide volunteer labor, money and building materials to construct "decent houses" for the sub prime borrower. Homeowner's make a small downpayment, and must pay a
Habitat For Humanity affiliates provide volunteer labor, money and building materials to construct "decent houses" for the sub prime borrower. Homeowner's make a small downpayment, and must pay a
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
reasonable mortgage. "Habitat houses are sold to partner families at no profit and financed with affordable loans."
Every Habitat For Humanity home-owner is a sub-prime borrower. In fact, many would not qualify for loans
Every Habitat For Humanity home-owner is a sub-prime borrower. In fact, many would not qualify for loans
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
from a bank or mortgage company.
*
Habitat for Humanity works to eliminate substandard housing
*
Habitat works to provide homes for families living in sub-standard apartments.
*
Habitat has provided homes for more tha
*
Habitat for Humanity works to eliminate substandard housing
*
Habitat works to provide homes for families living in sub-standard apartments.
*
Habitat has provided homes for more tha
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
n 1 million people in 3,000 communities
Habitat for Humanity (and organizations like it) offers a key to one family at a time. Your donation to Habitat for Humanity gives hope to qualified and committed sub prime borrowers
Habitat for Humanity (and organizations like it) offers a key to one family at a time. Your donation to Habitat for Humanity gives hope to qualified and committed sub prime borrowers
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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