Tuesday, August 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.

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

Posted by chris :-)) @ 02:57 AM (427 views)
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