I want to know the answer to the following question:
When housing prices declined, who reported significant losses from being heavily invested in subprime MBS?
All the background I'm provided with is that "As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased.". Is that enough to answer the question?