NEW YORK: A crisis in credit markets triggered by a collapse of the US subprime mortgage market has shuttered several mortgage real estate investment trusts and threatened the sector, rekindling memories of a similar crisis 30 years ago.
In the 1970s, when mortgage REITs were new to investors, risky loans and too much leverage forced most of them out of business and tarnished the reputation of equity as well as mortgage REITs for more than a decade.
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