New Troubles in Subprime City
Stock investors averted their gaze from the subprime mortgage mess on Mar. 19, choosing to focus instead on a fresh wave of merger news that helped send major indexes higher. But the elephant is still very much in the room. Another barrage of news from companies that make residential loans to customers with weak credit shows that industry players continue to face a steep climb as they try to restore their financial health and return to the good graces of equity investors. And a widely followed real-estate industry report said subprime woes were beginning to weigh on the homebuilding sector.
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