Wednesday, January 17, 2007

Bloomberg - "Pricing Error on Mortgages Led to Lender's Collapse (Update4)" (1-12-07)

"Mortgage Lenders Network USA Inc., a provider of home loans to people with poor credit, said 'human error' caused it to lend $600 million at below-market rates, fueling losses that led to the closure of its biggest unit."

No comments: