Credit markets lose momentum after new mortgage fears
Renewed concerns over provisioning by US mortgage lenders led to some pullback for credit as October closed, following a strong advance to mid-month.
Money centre banks and mortgage financing credits in the US such as Ally Financial and H&R Block came under significant pressure last month, due to fresh questions about the cost of repurchasing improperly documented mortgages. News that mortgage lenders are expanding moratoriums on foreclosures, amid regulatory scrutiny of flawed documents, helped trigger the sell-off.
In addition, reports emerged that end-investors including Pimco, BlackRock and Federal Home Loan Banks are looking to force
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