|
The first is gone
Thus, a multi-array of investment, high-secured mortgage loans. Once the
housing market has begun to cool in the United States, there has been a growing
number of homeowners who are unable to make Mortgage payments. The first segment of borrowers in the subprime loans - where one in five mortgage loan is
either the owner denied the right to repurchase the mortgage as a result of
delay. As the growing number of Mortgages defaults are beginning to raisequestions about the reliability of the most risky securities financed by income
from mortgage loans. Investors are beginning to choose from the high-money
financial institutions, such as hedge funds and private equity funds.
The market has already witnessed the collapse of two hedge funds administered
by the bank Bear Stearns. At investments in mortgage bonds, they lost 1.6
billion dollars. A similar situation exists among many financial players: well,
the Australian mortgage bank Macquarie Bank announced that it owned two funds,
working with high-yield bonds of the United States, could lose up to 25% of
their funds. In Europe, their losses announced by German Commerzbank and
Deutshe Bank, as well as such major British banks as RBS (Royal Bank of
Scotland), Alliance & Leicester, HSBC, which is operating in the market of Bad Credit Mortgage dollars through its American unit of HSBC Finance.
Apart from the high-mortgage loans contribute to the crisis has created sector
and corporate loans, for example, the financial activity for the Bad Credit ransom (acquisition of a controlling interest in the joint-stock company, with the borrowed funds, which are the guarantee of assets
absorbed by the company). Since 2003, market conditions Remortgage evolved in favor of borrowers. According to IMF analysts, this has ledto a weakening of credit discipline in the corporate sector, primarily in the
restrictions placed on the transaction in a segment of corporate borrowing. The
most popular form of Credit is the so-called loan with a relaxed environment. The amount of corporate Loans granted under the scheme, for the first half of2007 reached 110 billion dollars, while in the whole of the previous year, it amounted
to only 30 billion, and for 2005 - and - only 10 billion There is currently no
vector trend in the issuance of relaxed credit turned to the opposite. "It
seems that financial market participants have become too optimistic, and now
they have to re-accustom itself to a rigorous financial discipline" - John
Lipski said.
|
