American National Financial hard times with the customer to spend 16 billion.

<P>: Http://finance. News, 23 American National Financial Corporation announced that it will by offering more favorable interest rates, repayment conditions relaxed so that customers can continue to mortgage loans for housing. .</ P> <P> the largest U.S. mortgage lender, National Commercial Finance Corporation (Countrywide Financial Corporation) 23 announced today will provide a more favorable interest rates, repayment conditions relaxed so that customers can continue to mortgage loans for housing. .It is reported that this program will involve 16 billion U.S. dollars in loans. .</ P> <P> relax the terms of repayment </ P> <P> National Financial Corporation, said before the end of next year, through the new financial arrangement, approximately 52,000 original "sub-prime mortgage customers" will .can be upgraded to "normal levels" or a government-guaranteed loans to capital, they will receive more favorable interest rate conditions. .Additionally, 30000 may or repayment of default has occurred customers will be able to re-negotiate with the company's loan terms, so as to reduce their repayment pressure. .</ P> <P> National Financial's chairman and chief operating officer David Saab has said the U.S. subprime bond market continued to deteriorate, the company increasingly tense and therefore liquidity, corporate bonds and mortgage financing in the markets are facing unprecedented .difficulties, the company earnings and financial condition may suffer a serious setback. .This year, its shares have fallen by about 65%. .</ P> <P> crisis spread like a domino, and tear down the first card is the "debt does not also" lenders. .In the U.S., the credit provider, financing through the sale of collateralized debt obligations, and then the money goes to the owner, the owner of interest paid to credit providers and credit providers to pay interest on the securities buyer the difference between, it becomes a credit .provider, source of income. .</ P> <P> but mainly for subprime mortgages have no fixed income and bad credit borrowers. .Data show that the mortgage finance company business of the country, 90% of subprime loans. .Industry experts pointed out that because of bad debts caused by rising default rates increase, the company issued bonds to finance the country's credit rating to junk status, the country willing to buy commercial paper issued by financial companies and asset-backed securities fewer and fewer people. ."On the one hand to lend out the money not being paid, other creditors door debt payment." </ P> <P> financial data, as of June 30 this year, the national non-optimal level of financial companies in the mortgage business, .About 20% of the business experience of at least 30 days in arrears. .Excellent grade default rate home-equity loans rose to 3.7%, 1.5% a year earlier; the overall loan delinquency rate rose to 5%, 3.9% a year earlier. .</ P> <P> some institutions have taken similar measures </ P> <P> U.S. Treasury Secretary Henry Paulson said last week that the real estate market downturn is the biggest risk the U.S. economy. .He called on lenders to adjust mortgage repayment terms, and loans to buy a house by the storm. .Data show that this year the country provided financial companies, over 180 million loans. .</ P> <P> some market participants praised the National Finance Corporation announced initiatives. .American "neighborhood support for the company," CEO Bruce Mark says that the National Finance Corporation set the standard for such measures. .</ P> <P> Previously, some commercial lenders have made similar moves. .U.S. savings and loan institution Washington Mutual major commercial company as early as April of this year announced a total of 20 billion program to refinance subprime customers, Bear Stearns's offices have set up business loan loan conditions responsible for the adjustment of the Working Group .. .</ P> <P> Disclaimer: This story is purely personal point of view of, only for investors and does not constitute investment advice. .Accordingly investors operate your own risk. .</ P>.