The old saying ‘you are known by the friends you keep’ is coming back to haunt some investors as exposure to their friends coninues to punish mortgage stocks. A few million here and a few billion there – it is still a bad idea to expose yourself in public these days.
Anworth Mortgage Asset Corp’s shares fell 19 percent to close at $4.85 as investors widely punished mortgage-related stocks. And the shares of RAIT Financial Trust, whose investment portfolio includes $4.3 billion in mortgage loans, fell 23 percent on concerns over its exposure to bankrupt American Home Mortgage. On July 31, RAIT reported net equity exposure of about $95 million to American Home.
Hi, I'm Jen and I'm here to help. Submit your complaint here or get help here
This article, Being Exposed Has Investors Singing Mortgage Blues, is just one of our articles from our Mortgage Crisis Daily
The Subprime Mortgage Crisis Before, During, and After
Mortgage Crisis Daily monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
