COLUMBIA, S.C. - Resource Bancshares Mortgage Group lost $10 million, or 53 cents a share, in the first quarter after earning $11 million, or 50 cents a share, in the year-earlier period.It said most of the loss resulted from a $7.7 million writedown of residual securities the company retained from its securitizations of subprime loans. Excluding that charge, it lost $3.5 million, or 19 cents a share.

In a press release, chief financial officer Steven F. Herbert said the company is trying to securitize or sell its residuals and that it would use the proceeds to buy back its own stock. Initial feedback from potential residuals buyers led the company to believe that it would have to mark them down to avoid taking a loss on the sale, Mr. Herbert said.

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