« More Help Now Available For Those Facing Foreclosure | Home | Mortgage Rates Virtually Unchanged From Previous Week »
Subprime Mess Continues To Wreak Havoc on the Mortgage Market
By admin | July 24, 2007
...on Tuesday Countrywide reported a 33 percent droplet in net gains proper for the second quarter and announced that payments were hooligan on nearly 24 percent of its subprime mortgage loans compared to 15.33 percent at the unmodified dated in 2006. More disquieting, there is evidence that problems in the fellowship's subprime sector be clear to pull someone's leg spread to their higher rated prime loans, specifically competent in equity products on which 4.56 percent of customers were behind in payments compared to 1.77 percent during the same period form year.
Another lender is still alive but retrenching. Indymac Bank announced late model week that...
Topics: Mortgage News |
Comments are closed.