(Reuters) - But the market, stabilizing somewhat today, will likely be
"very strong" again by 2010 as a result of improvements made
across the industry, he said. Total subprime loan volume will
probably drop to about $350 billion this year from $640 billion
last year due to improved underwriting and other changes, he
said.
Profit at WaMu and other lenders who make subprime
loans, which are extended to borrowers with poor credit
histories, has been hit in recent quarters as surging
delinquencies and foreclosures on bad loans cause losses.
Read more at Reuters.com Bonds News
"very strong" again by 2010 as a result of improvements made
across the industry, he said. Total subprime loan volume will
probably drop to about $350 billion this year from $640 billion
last year due to improved underwriting and other changes, he
said.
Profit at WaMu and other lenders who make subprime
loans, which are extended to borrowers with poor credit
histories, has been hit in recent quarters as surging
delinquencies and foreclosures on bad loans cause losses.
Read more at Reuters.com Bonds News
No comments:
Post a Comment