Tuesday, Mar 13, 2007
Paging Dr Debt Doom, Paging Dr Debt Doom, Please pick up the white courtesy phone....
FT.com: Mortgage lenders tighten standards
Dozens of mortgage lenders to people with poor credit histories have closed or tightened lending standards amid rising delinquencies in the subprime home loan market in recent months, analysts say.
New Century Finance, the second-biggest subprime mortgage lender in the US, is the latest mortgage provider to disclose that Wall Street lenders have cut short-term funding for originating new loans, as the company has struggled to repurchase old mortgages. With trading in its shares suspended, many analysts expect a bankruptcy filing.
Posted by lvmreader @ 12:04 AM (155 views) Add Comment
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