U.K. mortgage lender Paragon Group of Cos. PLC (PAG.LN) Thursday said overdue borrower payments dropped in the three months to Dec. 31, as low interest rates kept its buy-to-let mortgages affordable, and that it hopes to start making new loans soon if securitization markets ease further. At 0915 GMT, shares in Paragon were up 5 pence, or 3.8% at 140 pence, outpacing broader gains in financial shares. The stock is nearly triple its price a year ago, when the outlook for the financial system and broader economy was…
Paragon Has Fewer Bad Mortgage Loans, More Cash
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