The two funds had a high level of exposure to bonds backed by subprime mortgages.
Alt A loans are somewhat in-between prime and subprime mortgages on the risk scale.
The actual losses from subprime mortgages and other exotic instruments were large but absorbable.
Actual losses on exotic instruments, moreover, won't come near the value of those subprime mortgages.
These two monsters played a critical role in the horrible proliferation of subprime mortgages.
It just so happened that subprime mortgages were available to leverage that kind of apparent wealth-creation.
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He also added that its investment portfolio has some modest exposure to subprime mortgages.
Falcone, who made a fortune by betting against subprime mortgages, ranks 188th on the Forbes 400.
Subprime mortgages are loans intended for borrowers who are perceived to have high credit risk.
They must now regret having invested their savings abroad in American subprime mortgages and Greek government debt.
Its legal issues involving subprime mortgages have been more extensive and expensive than those of most competitors.
Regulators, meanwhile, looked the wrong way: they were far more worried by hedge funds than subprime mortgages.
Fannie and Freddie played a significant role in the explosion of subprime mortgages and subprime mortgage-backed securities.
The folks making tons of money selling subprime mortgages and creating a housing bubble, bought more expensive houses.
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Among private equity shops, billionaire Wilbur Ross and Marathon Asset Management are both investing in distressed subprime mortgages.
The blowup of 2008 was blamed in part on financial innovations such as credit derivatives and subprime mortgages.
In response to the serious financial losses incurred by investors, the market for subprime mortgages has adjusted sharply.
If the financial crisis was caused by subprime mortgages and predatory lending, the government's own policies made it happen.
The percentage of riskier securities like subprime mortgages and mortgages with a loan-to-value ratio of greater than 90% skyrocketed.
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The lawsuits accuse them of hiding the amount of subprime mortgages their companies held going into the financial crisis.
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Those bond buyers often only discovered that they had bought bonds based on subprime mortgages after the mortgages failed.
Raines had become an expert in bundling bad subprime mortgages, and the technology was ideal for bundling worthless air credits.
Some have done just this with the most rancid subprime mortgages, requesting an injection of better-quality loans into the pool.
Many subprime mortgages were combined with other kinds of borrowings and sold to investors via collateralized debt obligations.
Heightened investor concerns about the credit quality of mortgages, especially subprime mortgages with adjustable interest rates, triggered the financial turmoil.
As foreclosures rose, banks and hedge funds that had invested big in subprime mortgages were weighed down by worthless assets.
So that gave financial whizzkids a motive to create complex securities like collateralised debt obligations (CDOs) based on subprime mortgages.
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The suit alleged Citi misled buyers of its bonds over its exposure to subprime mortgages and other high-risk securities between 2006 and 2008.
The company spent the quarter trying to limit its exposure to alt-A mortgages, subprime mortgages, commercial real estate and leveraged loans.
Phil Falcone is a New York hedge fund manager who made a fortune betting against subprime mortgages in the financial bust.
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