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I-Man

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I-Man

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Wednesday, 02/20/2008 9:33:09 AM

Wednesday, February 20, 2008 9:33:09 AM

Post# of 975
Feb. 20 (Bloomberg) -- A year ago $20 million would have gotten Luminent Mortgage Capital Inc. access to $640 million in loans to buy top-rated mortgage-backed securities. Now that much cash gets the firm no more than $80 million.

``There's nobody out there trying to lend money on securities,'' said Luminent Chief Executive Officer Trezevant Moore. Six lenders are offering five times leverage on what the San Francisco-based company has contributed, while a year ago, 20 banks extended 33 times, he said.

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