Wednesday, Aug 15, 2007
RAMS sought to deflect the impact of the credit squeeze by saying that it has no actual exposure to the subprime market and all of its own loans were 100 per cent insured.
smh: The roof caves in on RAMS
NEWLY listed home loans group RAMS could take a hit of up to 15 per cent on its next round of net profits, having been engulfed by the financial contagion sweeping US debt markets.
Analysts indicated yesterday that, under a worst case scenario, RAMS's forecast after-tax earnings of $58.6 million for this financial year could fall by between $5.8 million and $8.8 million if the higher costs of borrowing money to underwrite its mortgage offerings feeds through to its bottom line.
Posted by chris :-)) @ 12:14 AM (132 views) Add Comment
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