News:
SHARES in RAMS Home Loans Group plunged even further yesterday, despite speculation of a rival bid for its franchise network.
The 18c fall to 48c came despite the non-banker lender saying $300 million worth of bonds were expected to settle.Talk of a rival bid came after RAMS on Tuesday agreed to sell its 91 branches and all future business it writes to Westpac for $140 million.
RAMS accepted the deal after becoming a high-profile local victim of the US subprime mortgage crisis.
Prime Minister John Howard yesterday warned the US subprime problems were still washing through the global financial system.
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