Bear Stearns mortgage lender draws reserve in UK as losses mount

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Bear Stearns mortgage lender draws reserve in UK as losses mount

April 21, 2006 12:00 AM

Rooftop Mortgages, the UK non-conforming mortgage lender owned by Bear Stearns, has had to draw on the reserve fund of its £125m debut securitisation to compensate for mounting losses and costs, only 14 months after the deal was launched.

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