Scrutiny of Servicing and Secondary Markets Catching Up to Subprime Issuers, ABFS Says
October 3, 2003
Is industry-wide scrutiny of delinquency reporting and servicing practices – as well as the continued fight over predatory lending – finally hitting home with subprime mortgage securitizers? Officials at American Business Financial Services believe so. In an 8-K filed on Sept. 25, the Philadelphia-based lender said that a witch’s brew of factors had made its underwriter skittish about a deal that was