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Option ARMs a Concern as Neg Am Increases
The top two lenders of option ARMs took decidedly different actions this month relating to the products as declining home prices put lenders at risk. Washington Mutual, the top option ARM lender in 2007, according to Inside Alternative Mortgages, last week ceased offering option ARMs via its retail channel. Wachovia, the second-ranked option... [Includes one chart and one graph]
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