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The Leading Subprime Lenders Most Responsible for the Mortgage Meltdown

Saturday, November 30, 2013 21:02
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As promised, below is the 2009 list of the top 25 subprime lenders that crushed the U.S. housing market in 2007-08.  As discussed earlier this week, nearly every executive at the below banks have more than landed on their feet and are now reengaged in the business of writing loans . . .

Courtesy of The Center for Public Integrity:

“These top 25 lenders were responsible for nearly $1 trillion of subprime loans, according to a Center for Public Integrity analysis of 7.2 million “high interest” loans made from 2005 through 2007. Together, the companies account for about 72 percent of high-priced loans reported to the government at the peak of the subprime market. Securities created from subprime loans have been blamed for the economic collapse from which the world’s economies have yet to recover.
  1. Countrywide Financial Corp.
    Amount of Subprime Loans: At least $97.2 billion
  2. Ameriquest Mortgage Co./ACC Capital Holdings Corp.
    Amount of Subprime Loans: At least $80.6 billion
  3. New Century Financial Corp.
    Amount of Subprime Loans: At least $75.9 billion
  4. First Franklin Corp./National City Corp./Merrill Lynch & Co.
    Amount of Subprime Loans: At least $68 billion
  5. Long Beach Mortgage Co./Washington Mutual
    Amount of Subprime Loans: At least $65.2 billion
  6. Option One Mortgage Corp./H&R Block Inc.
    Amount of Subprime Loans: At least $64.7 billion
  7. Fremont Investment & Loan/Fremont General Corp.
    Amount of Subprime Loans: At least $61.7 billion
  8. Wells Fargo Financial/Wells Fargo & Co.
    Amount of Subprime Loans: At least $51.8 billion
  9. HSBC Finance Corp./HSBC Holdings plc
    Amount of Subprime Loans: At least $50.3 billion ***
  10. WMC Mortgage Corp./General Electric Co.
    Amount of Subprime Loans: At least $49.6 billion
  11. BNC Mortgage Inc./Lehman Brothers
    Amount of Subprime Loans: At least $47.6 billion ***
  12. Chase Home Finance/JPMorgan Chase & Co.
    Amount of Subprime Loans: At least $30 billion
  13. Accredited Home Lenders Inc./Lone Star Funds V
    Amount of Subprime Loans: At least $29.0 billion
  14. IndyMac Bancorp, Inc.
    Amount of Subprime Loans: At least $26.4 billion
  15. CitiFinancial / Citigroup Inc.
    Amount of Subprime Loans: At least $26.3 billion
  16. EquiFirst Corp./Regions Financial Corp./Barclays Bank plc
    Amount of Subprime Loans: At least $24.4 billion
  17. Encore Credit Corp./ ECC Capital Corp./Bear Stearns Cos. Inc.
    Amount of Subprime Loans: At least $22.3 billion
  18. American General Finance Inc./American International Group Inc. (AIG)
    Amount of Subprime Loans: At least $21.8 billion ***
  19. Wachovia Corp.
    Amount of Subprime Loans: At least $17.6 billion.
  20. GMAC LLC/Cerberus Capital Management
    Amount of Subprime Loans: At least $17.2 billion ***
  21. NovaStar Financial Inc.
    Amount of Subprime Loans: At least $16 billion
  22. American Home Mortgage Investment Corp.
    Amount of Subprime Loans: At least $15.3 billion
  23. GreenPoint Mortgage Funding Inc./Capital One Financial Corp.
    Amount of Subprime Loans: At least $13.1 billion
  24. ResMAE Mortgage Corp./Citadel Investment Group
    Amount of Subprime Loans: At least $13 billion
  25. Aegis Mortgage Corp./Cerberus Capital Management
    Amount of Subprime Loans: At least $11.5 billion

***Total includes subsidiaries”


Source: http://corporatejusticeblog.blogspot.com/2013/11/the-leading-subprime-lenders-most.html



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