Nonperforming Asset Ratio Jumps at Downey

Downey Financial Corp., a savings and loan engaged in mortgage banking activities, has reported that its nonperforming assets jumped to 1.96% at the end of August, compared with 1.30% three months earlier.On a percentage basis, its NPA ratio spiked 50% over the time period. Based in Newport Beach, Calif., the publicly traded Downey services $5.74 billion in mortgages for others. In August it funded $171 million in residential loans for its investment portfolio. The previous month it funded just $94 million. Downey can be found online at http://www.downeysavings.com.