subprime mortgages is psubprime mortgages is likely to persist, Italian Finance Minister Tommaso Padoa-Schioppa said Monday. News) The worst of severe rating cuts of collateralized debt obligations tainted by U.S. Italy Fin Min: Financial Market Tension May Linger (Nasdaq) by Mortgages finance @ Mon, 03 Dec 2007 10:13:16 -0600 BRUSSELS -(Dow Jones)- The turmoil in global financial markets stemming from defaults on U.S. Severe CDO rating cuts over, "healing" ahead: Fitch (Reuters via Yahoo! The loan officer's job is to help you process your application for a mortgage. To see if you're suitable a certain mortgage product, they will look into your personal credit account and start the approval process for your transaction.