10.11.2011 - Is the American housing market still underwater?
US retail mortgages may be one of the scariest assets at this point in time. Apart from Italian or Greek bonds, owning securities back by retail mortgages is harrowing for investors across the globe. Although the brunt of the damage occurred a few years ago, the stigma and uncertainty related to mortgages and retail loans still exists. As we now know, mortgage lenders decreased their screening standards and essentially gave loans to everyone that walked in the doors. At this point in time, is there anyone who retains responsibility in the housing market? ..............................................Full Article: Source
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