Wall Street Journal (02/27/08) P. D4; Whitehouse, Kaja
BlackRock Inc. and Fortress Investment Group LLC are among the money managers snapping up whole residential mortgages at bargain prices in the hopes of turning a profit. The purchase of whole residential-loan portfolios has gained popularity since the credit crunch has choked activity in the mortgage securitization business. These investment firms are especially interested in delinquent mortgages, as they take control of the properties themselves in the event of foreclosure.
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