quote from FT article
[Ownit Mortgage Solutions,a small Californian mortgage lender , in which Merrill Lynch has a 15 per cent stake, closed its doors yesterday.
Moody’s put a handful of 2006 subprime deals on watch for downgrade – the first negative ratings activity for bonds originated in these years.
HSBC, the third-biggest bank, has announced bad debts are rising in its US mortgage business. ]
[Ownit Mortgage Solutions,a small Californian mortgage lender , in which Merrill Lynch has a 15 per cent stake, closed its doors yesterday.
Moody’s put a handful of 2006 subprime deals on watch for downgrade – the first negative ratings activity for bonds originated in these years.
HSBC, the third-biggest bank, has announced bad debts are rising in its US mortgage business. ]