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Report: Subprime woes to drag '07 market
AP - The subprime mortgage implosion will take even more steam out of the already slowing real estate market this year and beyond, according to a new economic report.
New Century seeks Chapter 11 protection
AP - Subprime mortgage lender New Century Financial Corp. filed Monday for Chapter 11 bankruptcy protection, and said it would fire 3,200 workers, or 54 percent of its work force, to better position the company for a possible sale.
Experts differ sharply over mortgage data
FT.com - Rising house prices have forced households to take out big mortgages, reducing the equity they hold in property, according to figures published on Monday.
Major home lender files for bankruptcy
AP - Subprime lender New Century Financial Corp., once the nation's second-largest provider of mortgages to high-risk borrowers, filed Monday for bankruptcy protection and immediately fired 3,200 workers, or 54 percent of its work force.
Banks traded heavily in CDS market
FT.com - Banks and financial services companies topped the list of most actively traded sectors in the US credit default swap market last month amid increasing concerns overthe industry's exposure to problems in the subprime mortgage market, GFI, the inter-dealer broker, said on Monday.
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