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...One theory is that rising rents and mortgage rates have created instability and uncertainty around traditional housing....
...Earnings for the fourth quarter, due out on 23 January, are expected to be 60 cents a share, including a 25 cents a share loss from the closure of its GreenPoint Mortgage unit in August....
...GreenPoint specialised in providing loans to subprime borrowers and so-called “Alt-A”, or near prime borrowers. GreenPoint would then sell those mortgages on to investors....
...Capital One closed its Greenpoint mortgage business earlier this year....
...Capital One Financial, one of the largest US credit card providers, said it would close its wholesale home lending unit, GreenPoint Mortgage, eliminate 1,900 jobs and take an after-tax charge of $860m....
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