Subprime Write-Offs

Subprime Write-Offs - 80/20

Published May 14th, 2008 in Banks. Tags: banks, mortgage, subprime, write downs, write offs.

Fitch announced today that it believed that further write offs of subprime backed securities could come, but that 80% of write downs are now over. It does not see any material ratings changes to be made because of the subprime mess. It also said that it estimated that banks proper hold around 50% of the nearly $1.5 trillion subprime mortgage market.

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This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

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Subprime Write-Offs - 80/20

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