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Tuesday, March 04, 2008 9:35 PM


The Sub-prime mortgage crisis

-> Mortgage loans are made to sub-prime individuals generally with a FICO credit score below 620 which means borrows have a below-par credit history.
-> These loans have a higher default rate than prime loans and are priced accordingly to compensate for the added risk.
-> Huge rise in sub-prime mortgage forclosures
-> Caused 100s of sub-prime mortgage lenders to file for bankruptcy
-> Prices in the $6.5 trillion mortgage-backed securities market collaspe
-> Repackaged sub-prime debts around the world plunge in value to near zero
-> World markets plunge and banks write-off billions







THE ONE

Jincheng
twenty-two

The only regrets in life are
the risks you never took

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