Subprime Lenders Getting U.S. Subsidies, Report Says

Aug. 26, 2009

Many of the lenders eligible to receive billions of dollars from the government's massive foreclosure prevention program helped fuel the housing crisis by issuing risky subprime loans, according to a report to be issued Wednesday by the Center for Public Integrity.

Subprime lenders getting foreclosure funds

WASHINGTON, Aug. 26 (UPI) -- Most of the mortgage lenders receiving taxpayer subsidies through a U.S. program to prevent foreclosures specialized in risky subprime loans, advocates say.

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Lori Anne Madison, 6, of Woodbridge, Virginia, spells out the letters in her word as she competes during the opening round of the Scripps National Spelling Bee, May 30, 2012, in National Harbor, Maryland. Madison, the youngest known qualifier in the history of the contest, correctly spelled the word "dirigible*", a lighter-than-air aircraft, to advance. UPI/Mike Theiler

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Subprime Lenders Getting U.S. Subsidies, Report Says

Subprime lenders getting foreclosure funds