May 21, 2008

U.S. Mortgage Crisis Loans Priced

Link: BBC NEWS | Business | UBS sells loans in cut-price deal.

Swiss bank UBS has sold loans - with a nominal value of about $22bn - to fund management group Blackrock for $15bn.

...The assets being sold include sub-prime, prime mortgage-backed securities and Alt-A (a grade of US mortgage debt that is just a bit better than sub-prime).

Posted by Anupam Chander on May 21, 2008 at 08:41 AM in International Finance | Permalink