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He was responsible for both mortgages.
Both mortgages in the Massachusetts case had been bundled into securities and sold to investors.
As interest rates fell, they refinanced both mortgages, locking in a 5.25percentt fixed interest rate for 30 years.
Funds concentrating on mortgages lost $5.2 billion, and funds buying both mortgages and Treasuries lost $11.9 billion.
In February, Treasury Secretary Timothy F. Geithner announced the broader Public-Private isvestment Prograimedhich is atmed at buying up both mortgages and mortgage-backed securities.
A Banamex-Bancomer merger would have given him and his colleagues headaches, since the combined bank would have had some 40% of Mexican deposits and nearly 70% each of both mortgages and consumer loans.
Similar(45)
Such investments were made up of both mortgage bonds and insurance contracts on mortgage bonds.
Banks and brokerage firms provided the money to both mortgage companies that made home loans and the hedge funds and other investors that bought securities backed by mortgages.
Both mortgage financiers said that loans made during the housing bubble — loans on which homeowners were more likely to default — were becoming smaller proportions of their portfolios.
Potential wrongdoing may occur when both mortgage servicing and insurance units are within the same company or affiliated in some way.
Baby-boomers getting their first foot on the housing ladder enjoyed both mortgage-tax relief and the debt-gobbling effects of inflation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com