Friday, June 8, 2007

UPDATE 1-AIG to take steps to assist nonprime borrowers

(Reuters) - NEW YORK, June 8 - American International Group, Inc. , the world's largest insurer, said on Friday that following discussions with the U.S. Office of Thrift Supervision, three of its units have agreed to assist some sub-prime borrowers in remaining in their homes.



Sub-prime borrowers have been having difficulties making payments on their loans as interest rates rise, and AIG units have a large portfolio of subprime loans.


Read more at Reuters.com Bonds News

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