borrower

NY Times Goes to Extremes to Convince Readers of Student Loan Crisis

julia.seymour — Tue, 15 May 2012 20:33:18 +0000

Front page story cites student $120,000 in debt; later admits only 3 percent of borrowers have $100K+ burden.

Julia A. Seymour

The New York Times continued and old media theme of complaining about the volume of student debt on May 13 with its front page story: “A Generation Hobbled by College Debt.”

Times writers Andrew Martin and Andrew W. Lehren began the 4,647-word essay about the problem of growing student debt began with the extreme example of one girl who is graduating $120,000 in debt.

Time to Bury Fannie & Freddie, Not Praise Them

admin — Wed, 06 Aug 2008 14:14:39 +0000

Pete Sepp

Julius Caesar’s decision to cross the river Rubicon touched off three years of bloodshed and strife that changed the Roman world. So it is (in less dramatic fashion) with the decisions Congress will make about whether and how to bail out Fannie Mae and Freddie Mac, the two Government-Sponsored Enterprises (GSEs) that facilitate a majority of home mortgages in the United States. These choices will change the way the federal government interacts with financial markets for years to come.

ABC Links Credit Card Companies to College Suicides

admin — Thu, 26 Jun 2008 16:05:44 +0000

Kelly Brown

Credit card companies – not irresponsible borrowers – are to blame for the debt that college students rack up, according to ABC’s “Good Morning America.” Consumer correspondent Elisabeth Leamy reported June 26 that lenders use “deceptive tactics” to “lure college students in” and even tried to link suicide to that debt.

'Nightly News' Attacks Home Lenders for Not Caving in to Troubled Borrowers

admin — Tue, 10 Jun 2008 15:12:39 +0000

Jeff Poor

The June 9 NBC “Nightly News” broadcast continued an all-out media assault on home lenders, which are suffering in an industry ailing from subprime mortgages gone bad. Correspondent Lisa Myers criticized one lender, Countrywide (NYSE:CFC), for being slow to help homeowners in trouble and vilified the company for not being quicker to accept concessions.

'Evening News': Foreclosures Causing Increased Homelessness

admin — Thu, 24 Apr 2008 16:28:00 +0000

Jeff Poor

The April 23 "CBS Evening News" blamed turmoil in the housing markets for another crisis: a rise in the homeless population.

"The Anticos are leaving their Bradenton, Fla., home because they have to," CBS correspondent Kelly Cobiella said. "The bank foreclosed on it in February after Sharon lost her job and fell behind on the mortgage. For the first time in her life, she and her kids are homeless."

Networks Still Don't Get Foreclosure Stats Correct

admin — Thu, 15 Nov 2007 22:25:28 +0000

Jeff Poor

It has become routine. Once a month, California-based RealtyTrac releases national foreclosure statistics and once a month, all three networks include a foreclosures story in their November 14 newscast.

However, this time they weren’t on the same page. From the November 14 broadcasts:

CBS Plugs Radical Leftist Group's Plea for Housing Assistance

admin — Fri, 14 Sep 2007 18:07:00 +0000

Jeff Poor

Even though Debbie Clavon admitted she was “dumb” and “didn’t read” her mortgage agreement, CBS showcased her adjustable-rate mortgage woes and her protest of foreclosures nationwide.

“For Alvin and Debbie Clavon of Los Angeles, the letter from their mortgage lender came last month, and the news was bad,” reporter Anthony Mason said on the September 13 “Evening News.”

Signals Suggest Home Financing Giant Countrywide Will Weather Credit Crunch

admin — Fri, 17 Aug 2007 19:01:52 +0000

Jeff Poor

It has been no secret that home lenders are in some serious trouble as borrowers are having troubles making payments on their mortgages. Even American Home Mortgage Investments, the then-nation’s 10^th largest home lender filed for bankruptcy in early August.

Subprime Reporting

admin — Wed, 28 Mar 2007 20:35:32 +0000

Julia A. Seymour

Media coverage of housing is booming again. This time, it’s the Shocked and Victimized Homebuyers versus the Big Bad Loan Companies.

As the subprime lending “crisis” has gone primetime, the media have labeled lenders “home wreckers” and accused them of leaving families devastated.

“We should have went to the mob for a loan. That’s the bottom line. I think the mob would have given us a better loan,” said Bronx homeowner Ana Rosado on CNN’s March 27 “American Morning.”