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The CSFP also asked for an extra six weeks to comment on the proposal.
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In 2003-04, many investors, facing similar choices, chose to invest heavily in subprime mortgage-backed securities since they were perceived at the time to offer relatively high risk-adjusted returns.
The FastFlex program will offer one-year loans of $10,000 to $35,000, with borrowers required to make weekly payments, according to a statement Tuesday by San Francisco-based Wells Fargo, which will begin offering the financing this month and has been running a pilot program since August.
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