Subprime Mortgages not the only poor Loans

January 15th, 2008 | Category: Credit Collections

Bank charge-offs on poor commercial and industrial loans more than doubled in the third quarter, evidence that the subprime mortgage woes have overflowed into other lending activities.

According to Dick Bove, an analyst with Punk Ziegel, “We are seeing a general deterioration in credit quality in the system, it’s not just the

subprime mortgages, it is additionally affecting a series of other areas.”

Many of these “bad loans” are related to real estate such as home builders, and residential mortgages. More charge-offs loom in the future causing a boom in the debt collection industry.

Orginal post by Michelle Dunn

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