Bear sees further impact from weak mortgage market

(Reuters) - "We're certainly going to be impacted in a weaker mortgage
market until the mortgage business turns back around. That's
going to be a little bit challenging," he said.




Mortgage defaults are rising in the U.S. Bear Stearns is
one of the largest underwriter of bonds backed by mortgages.
The firm tightened its underwriting standards during the most
recent quarter, which reduced the amount of loans to borrowers
with weaker credit, Molinaro said.


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