Industry News

S&P weighs downgrades on $7.3 billion in subprime MBS

Falling home prices, rising defaults, fraud cited as reasons for concern
Published on Jul 10, 2007

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by CareyBot

Falling home prices, rising defaults and evidence that mortgage fraud during the housing boom was more widespread than previously known has Standard & Poor’s considering downgrading its ratings on $7.35 billion in securities backed by subprime loans. The news that ...