COLUMBIA, S.C. - Resource Bancshares Mortgage Group reported a net loss of $24.9 million for the third quarter, or $1.43 per share, the company's fifth straight quarter in the red.

Resource attributed most of the loss, reported Wednesday, to a $20.1 million writedown of its residual interests in subprime securitizations. The writedown was the result of the company's agreement, announced this month, to sell 100% of the residual assets of its six subprime securitizations. Several analysts praised the move despite the immediate hit to earnings.

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