Monday, April 9, 2007
market woes spread further than subprime…surprise surprise….UK next?
American Home Mortgage Investment Corp. (NYSE: AHM), a large Alt-A mortgage lender, said Friday afternoon that it expects lower income in the first quarter and full year 2007 than previously forecasted, due to conditions in the secondary mortgage and mortgage-backed securities markets. The announcement comes ahead of the company’s first quarter results, which are set to be released April 30. “During March, conditions in the secondary mortgage and mortgage securities markets changed sharply,” said Michael Strauss, American Home’s chairman and CEO.