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Moody’s downgrades over 1.5 bln usd worth of subprime-backed
Forbes - MUMBAI (Thomson Financial) - Moody’s Investors Service downgraded 120 securities originated in the second half of 2005 and backed by subprime, first-lien mortgage loans. The actions follow a review of the securities rated in the second half of 2005
Source: www.forbes.com

Bank profits down 3.4 percent in 2Q
US News and World Report - Total past-due loans jumped by 10.6 percent, to $6.4 billion, and nearly half the increase came from home mortgage loans. In the largest jump since 1996, 824 financial institutions reported net losses for the quarter, up from 600 a year earlier
Source: hosted.ap.org

Bad loans at U.S. banks rise 51 per cent
Globe and Mail - SUBPRIME SHOCKWAVES SPREAD Bad loans at U.S. banks rise 51 per cent Three more mortgage lenders quit the business, bringing total to 90 in recent months
Source: www.theglobeandmail.com

Banks may grab more mortgage business
Jackson Clarion-Ledger - Big mortgage lender IndyMac Bancorp Inc. had stopped issuing jumbo loans altogether, but said it would resume, deciding to hold the loans in its investment portfolio until the market for those securities picks up. Most lenders making jumbo loans are
Source: www.clarionledger.com

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