Subprime Defaults Soar in 2006

Collins, Brian
April 2007
Mortgage Servicing News;Apr2007, Vol. 11 Issue 3, p1
The article reports on the increase on the number of defaults on adjustable-rate subprime loans in 2006 in the U.S. Friedman Billings Ramsey Group Inc.'s report showed that the struggling subprime industry continues to be plagued by early defaults at 4.62 percent in January 2006, up 21percent in just one month. Early defaults have driven large loan buybacks and forced over 20 subprime lending servicers to stop operating.


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