The latter group offers services to owners/servicers of troubled mortgage assets, and provides custom outsourcing solutions for clients.

BM savings balances have doubled since then to £12 billion; mortgage assets have more than trebled to over £32 billion.

Under his proposal, the government will team up with hedge funds, buyout firms, and other Wall Street operators to buy the distressed mortgage assets.

The first half of the bailout money was primarily used to buy preferred stock in banks, instead of troubled mortgage assets.

On 23 July it was announced that Virgin would also be acquiring £465 million worth of mortgage assets from Northern Rock (Asset Management).

Monarch Life's portfolio of mortgage assets amounted to only $84 million.

Prudential said in early September that it was planning a bulk sale of $700 million of real estate and mortgage assets, largely foreclosed and commercial properties.

The shrinking profit was a result of a $4.48 billion loss from derivatives, financial contracts used to protect its mortgage assets against fluctuating interest rates.

This would jeopardise mortgage assets, that is to say, the savings of many workers and other home buyers.

Wall Street treated Hollywood movies the same way it treated mortgage assets during the real estate boom.