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In an annual report the company filed last Friday, Wyndham addressed its concerns that the subprime mortgage meltdown may affect the costs associated with insuring its time-share vacation home business and may even lead to it being unable to obtain insurance for those time-shares. The company has some asset-backed securities with companies who are experiencing credit pressure and ratings downgrades. Revenues for its vacation ownership sector were up 3.9% to $576 million in the fourth quarter of 2007.