Tuesday, Aug 21, 2007
The US housing market downturn, spiking foreclosures and tightening credit - caused in part by banks and investors shunning mortgage-backed securities - have triggered a wave of problems for mortgage companies.
TELEGRAPH UK: Troubled US mortgagee in $25bn asset sale
THORNBURG Mortgage said overnight it had sold $US20.5 billion ($25 bilion) of assets as it seeks to weather the financial storm buffeting the troubled US housing industry
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