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    • Swiss Re Prepares to Issue Cat Bond: S&P November 13, 2009
      The market for investments in catastrophe insurance-related bonds looks ready to swell in 2010, with news this week of the first such issuance under a new program. Bonding the risk of damage to homes in relation to natural disasters is becoming increasingly relevant as the rehab of affected houses becomes more expensive in areas hard-hit by [...]
    • NAR Projects Home Sales to Rise 13.6% in 2010 November 13, 2009
      Existing home sales will increase 13.6% in 2010, with 5.69m houses sold during the year, according to National Association of Realtors (NAR) projections. NAR also projects as many as 2.4m first-time homebuyers took advantage of the $8,000 tax credit in 2008. First-time buyers accounted for 47% of home sales in 2009, up from 41% in 2008 [...]
    • Calif. Foreclosures Up 22% in October: ForeclosureRadar November 13, 2009
      Foreclosure repossessions in California increased 22.24% from September to October, according to data released by ForeclosureRadar.com. Last month’s foreclosures increased 20.95% from October 2008. October’s foreclosures were 42.56% below California’s peak month of July 2008, but since then, the inventory of real estate owned (REO) properties has grown 131.3 […]
    • Law Lets Home Builders Recoup Losses with More Back Taxes November 13, 2009
      President Obama didn’t just extend the the homebuyer tax credit’s deadline when he  signed the Worker, Homeownership and Business Act of 2009. He extended the credit to repeat buyers and also allowed corporations to recoup certain losses through back taxes. A report Friday from John Burns Real Estate Consulting advised builders and lenders to sta […]
    • Carlton Group Readies $494m REO for Auction November 13, 2009
      The Carlton Group will conduct a sealed bid loan and REO sale of $350m worth of properties for an unnamed financial institution, according to Carlton chairman Howard Michaels. The pool includes prime residential land lots, luxury waterfront and residential development parcels, hospitality, office, industrial and retail assets. Most of the properties, 70%, ar […]

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Confessions of a Subprime Lender

Posted on July 25, 2008 by paradigmdefault

 
After reading about Richard Bitner’s recent book entitled “Confessions of a Subprime Lender” I faced the possibility that this section of our generation will be known for our economic blunders. Then the thought occurred to me that we could either be known for our amaziing ability to screw up, or we could be known as [...]

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Press Release

Posted on July 7, 2008 by paradigmdefault

New Default Servicer Focuses on Broker-Centric Model

DENVER, June 19 /PRNewswire/ — Paradigm Default Services, LLC. announced today that it has initiated REO, third-party servicing designed to serve the needs of clients and investors who are awash in a sea of sub-prime foreclosures nationwide. Paradigm is both an operational platform for handling lender acquired properties and [...]

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