Bloomberg - "Subprime Loan Defaults Pass 2001 Peak, Friedman Says (Update4)" (2-2-07)

"Defaults on mortgages to people with poor credit histories or large debt burdens rose in November above their worst levels during the last recession six years ago, according to Friedman Billings Ramsey Group Inc."

"More than a dozen sub-prime mortgage lenders have closed in the past two months, including Middletown, Connecticut-based Mortgage Lenders Network USA Inc., Agoura Hills, California-based Ownit Mortgage Solutions, Charlotte, North Carolina-based Wachovia Corp.'s EquiBanc Mortgage and the Equity One unit of Puerto Rico's Popular Inc."