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February 5, 2010

Mortgage investing not like the old days

  • The crowd at a meeting this week of mortgage investors, bankers and lawyers had to confront an unsettling truth. They aren't masters of the universe anymore.
    • By ALAN ZIBEL
    AP Real Estate Writer

    NATIONAL HARBOR, Md. — The financial wizards who concocted the complicated mortgage-linked investments that nearly brought down the world economy are trying to come back from the dead.

    Thousands of them trooped to a conference center eight miles south of the nation's capital this week, looking for another chance. The difference this time: They promise to back loans to borrowers with real jobs, real incomes and solid credit scores.


     
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