UBS Makes Push for U.S. Mortgages
Swiss bank UBS will hire two executives to lead efforts to make more U.S. mortgage loans.
Now maybe I am missing something here, but the U.S. mortgage market is a mess. Despite the epidemic of battered U.S. mortgages, UBS officials say the home-loan business offers an attractive cross-selling opportunity without exposing the company to excessive risk.
In addition, I thought UBS got into trouble in the past due its dealings in the U.S. mortgage market. So perhaps some one can enlighten me as to what UBS plans to accomplish by jumping back into the U.S. mortgage market?
