BNP Paribas suspends three mortgage funds

France’s larest bank, BNP Paribas, today suspended three asset-backed securities funds. The move, which comes in the wake of increasing fears over the American ’sub-prime’ market, today hit share prices across the world.
In a move which other European banks are likely to follow, The Times reports that’ BNP Paribas Investment Partners suspended three funds worth […]

Continuing mortgage troubles in the US

The fallout from the ’sub prime’ lending crisis in the US continues, with American Home Mortgage Corp (AHM), the countries 10th largest mortgage lender filing for bankruptcy.
The Times reports that “growing numbers of home owners have been defaulting on their payments in recent months, prompting mortgage providers to write down large tranches of debt. The […]