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This column by Doug Kass was originally published on Feb. 15 at 9:27 a.m. EST on Street Insight. It's being republished as a bonus for TheStreet.com and RealMoney.com readers. For more information about subscribing to Street Insight, please click here.
Wednesday saw another large mortgage bank, Silver State Mortgage, cease originating subprime loans. Silver State Mortgage was, according to National Mortgage News, one of the fastest-growing wholesale lenders in the country.
The relatively healthy subprime originators, like Washington Mutual's(WM Quote) Long Beach Mortgage, are downsizing around the country faster than you can say BBB-minus.
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