Over the last six months, the financial markets have seen the problems in the housing market bleed into financial institutions' activities. These events are the first in what is sure to be a 12-18 month period of problems in the mortgage financing market.
The first round of mortgage problems at the lender level started in late 2006 when a number of subprime mortgage lenders went bankrupt, sold their portfolios or had their lines of credit cut-off effectively shutting...
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