(Reuters) - Once known as United Financial Mortgage Corp., Alliance joined at least a half dozen other U.S. mortgage lenders to seek bankruptcy protection since December. The sector has struggled with rising borrowing costs, stagnating home prices, and soaring delinquencies and defaults.
Alliance differed from most struggling lenders in that it specialized in "Alt-A" home loans, rather than "subprime" loans that have caused the greatest problems.
Read more at Reuters.com Bonds News
Alliance differed from most struggling lenders in that it specialized in "Alt-A" home loans, rather than "subprime" loans that have caused the greatest problems.
Read more at Reuters.com Bonds News
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