Subprime Lender List

Subprime Lender List

I found this one from my broker

http://www.aflc.com/

http://www.homeloantrust.com

http://ml-implode.com/nonimp/

http://www.lendingarsenal.com/PublicWelcome.aspx (this one give you LOTS of lenders)

he said they still do sub prime loans and maybe some of you can use them.

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Anita
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"FAILURE IS NOT AN OPTION"


A More Up To Date List?

Does anyone have a more up to date list of hard money lenders and/or sub-prime lenders? The original post was quite a long time ago.

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Rick Allison, Realtor
Amarillo, Texas USA

Find comps, private lenders and cash buyers nationwide: www.TheRealEstate.PRO

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good tips

My names is ramses, Thank you for this flood of tips.
Anita thank you again for your cooperation with every body.
Ramses


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I have found this great tool for finding private money right in one's own back yard. I was using it tonight, and I was amazed. I was actually able to find both individuals that have bought multiple properties in the last 6 months, and I was also able to find captial resources of different types. I found serveral, and right now I'm only searching for people or companies that actually do business in Amarillo and Lubbock Texas. I can't imagine how phenomenal this would be if I were to do it on a national or even global basis.

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Some of Dean's colleagues I have met and talked to at his seminars have similar tools/sites, so if you haven't graduated beyond the basics of just using this site, posting bandit signs, etc., you may want to try something better, especially if you're unsuccessful thus far.

Live long and prosper,

__________________

Rick Allison, Realtor
Amarillo, Texas USA

Find comps, private lenders and cash buyers nationwide: www.TheRealEstate.PRO

Foreclosure and pre-foreclosure search engine: http://tinyurl.com/b6w7h6o

The People Helping People Movement: www.greatEPXsite.NET


SubPrime Lending is on it Way Back

Don’t look now but banks are once again issuing lines of credit to customers with bad credit histories.

Bank credit cards, retail credit cards and auto loans are all more readily available to subprime borrowers over the last year according to a March report from Equifax.

Bank-issued credit card lending to sub-prime consumers jumped 41% between 2010 and 2011 hitting a four-year high in December 2011 with 1.1 million new bank credit cards issued. Plus, at $12.5 billion, bankcard limits are at their highest level since 2008 when the limit stood around $27.4 billion.
No Surprise Here, Bank Of America Looks To Charge More Fees Halah Touryalai Halah Touryalai Forbes Staff

Retail credit cards also saw an increase in lending to riskier borrowers. From 2010 to 2011 there was a 4.7 percentage point increase in retail card originations to sub-prime borrowers, making up 31% of 2011 retail credit card originations, Equifax says.

Subprime borrowers are also seeing credit lines easing in the auto loan arena. Equifax says new auto finance loan amounts increased $11.6 billion from 2010 ($164.6 billion) to 2011 ($176.2 billion), hitting the highest originations level since 2007 ($221.1 billion).

“The evidence of increased lending to sub-prime consumers demonstrates banks’ ongoing efforts to grow lending by providing credit opportunities to more consumers,” said Equifax Chief Economist Amy Crews Cutts. “Year-over-year results show borrowers are taking advantage of the new opportunities and seeking to diversify their financial activity, which is building momentum toward economic improvement.”

That might be especially true for banks whose revenue pipelines have been squeezed in part because of new rules and regulations. The so-called Durbin amendment, for instance, limits the fees banks can collect from merchants like Target and Walmart when their customers swipe their debit cards there. The Card Act is another revenue killer for banks which, among other things, keeps them from charging overdraft fees. And there may be more limitations on the way as the Consumer Finance Protection Bureau recently launched an inquiry asking banks for data about their overdraft practices.

The New York Times wrote about the subprime lending comeback saying “As financial institutions recover from the losses on loans made to troubled borrowers, some of the largest lenders to the less than creditworthy, including Capital One and GM Financial, are trying to woo them back, while HSBC and JPMorgan Chase are among those tiptoeing again into subprime lending.”

Indeed, Trefis finds that JPM’s credit and debit card business is the most valuable unit, contributing to just under a quarter of its value. The bank reports first quarter earnings Friday and Trefis expects an increase in JPMorgan’s outstanding card loan portfolio and improvement in its provisions for credit card loans as fewer loans are expected to go bad.

For the likes of Bank of America, JPMorgan Chase, Citi and Wells Fargo increasing revenue in this low growth and heavily regulated environment is a big challenge for the industry. So it’s not such a huge surprise that lenders are looking to widen their scope in their search for new borrowers. After all, their investors are banking sector’s growth prospects very closely in the post-crisis world.

Plus, increased lending, even if it is to subprime consumers, shouldn’t be completely frowned upon because it’s one way to help boost economic growth. Besides, lending to subprime borrowers wasn’t the whole problem–it was lending to them without so much as verifying employment, their income and assets. Remember NINJA loans?

With that in mind, the most important thing for lenders is to keep the lessons learned from 2008 crisis fresh in their memory. The key will be managing the risk that comes with territory of lending to less than stellar borrowers. Forbes


Update list

There are lots of sub prime borrowers.

You forgot this one http://www.alliancemtg.com

They have been around since 1997 and one of the better sites which now due to Google updates does not shows up much. Those who have bookmarked are in the know.


...

I got a few to add to this list if you want anita?...but it will come later?... mainly after i verify em!

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Very nicely explain, Thanks

Very nicely explain, Thanks for the info.

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[url=http://www.rlpnl.com/]St. John's Property[/url]


Another webite

You should check out www.betterhardmoney.com as it a little more user friendly and is kept up to date. You can also get a discount using "success99" and they have both hard money lenders, and conventional lenders.

Check it out!

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