TITLE

ABS Defaults Hit Record

AUTHOR(S)
Collins, Brian
PUB. DATE
November 2007
SOURCE
National Mortgage News;11/5/2007, Vol. 32 Issue 7, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the status of the default rate on securitized subprime mortgages in the U.S. The default rate hit a record in July 2007 and increased another 150 basis points in August 2007. This increase was due to declining house prices, which made it more difficult for struggling homeowners to refinance into more affordable loans or sell their homes to avoid foreclosure.
ACCESSION #
27424074

 

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