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Let us be clear right outta the blocks folks: Just because a company is named on the list below does not mean they are guilty of doing anything wrong.
But...some facts are undeniable: The following mortgage companies did originate a large percentage of “Alt-A” or “subprime” loans, meaning there's ample reason to take a closer look at how your specific loan was handled, from the origination process to the present.
Also worth noting up front/Part I: If your loan was originated by a company that's not listed on this page, you may still have good reason to investigate whether your rights were violated.
Also worth noting up front/Part II: If the lender who originated your loan is out of business, or has been acquired by another company, you may still be helped by our strategies. Just because a defunct lender sold a “bad note” to someone else does not mean your rights disappear.
How do you know if you've gotta potential case against the company who originated your mortgage or is currently collecting your monthly payments? Simple! If your...
- …loan was an Adjustable Rate Mortgage (ARM)
- …monthly loan payment has increased more than $200 in the past year
- …monthly payment will increase by more than $200 in the next six months
- …loan has a pre-payment penalty longer than three years…
…then it's probably worth a closer look.
Here's our Top 35 * list of subprime mortgage originating companies. (Is yours among them?)
(1) Funding pulled, lending halted, now subject to multiple lawsuits and criminal probes
(2) Sold $2 billion worth of preferred stock for a 16% stake in the company to Bank of America on 8/22/07. Amid bankruptcy rumors, Bank of America announced their intent to takeover Countrywide outright, acquiring the company for a straight stock-swap deal valued at $4.1 billion.
(3) Subprime lending activities ceased on 3/2/07
(4) Owned by H&R Block; up for sale due to mounting losses
(5) Subsidiary of General Electric, up for sale as of 12/3/07
(6) Acquired by Merrill Lynch from National City for $1.3 billion
(7) Subsidiary of Lehman Brothers
(8) Announced the following impairments: No dividends in 2007, no taxable income through 2011; shareholder lawsuits and possible bankruptcy looming
(9) Partially-owned by Merrill and Bank of America
(10) Filed for bankruptcy in 8/07
(11) Quit funding residential mortgages on 12/29/06
(12) An affiliate of investment banking firm Bear Stearns
(13) The bankrupt mortgage company was sold to Chicago-based hedge fund Citadel on 2/13/07
(14) Owned by HSBC; rumored to be up for sale
(15) Fire-sale buy out by Bear-Stearns Mortgage on 10/29/07 (now known as Bear Stearns Residential Mortgage Corporation)
(16) Acquired by C-Bass (a/k/a Credit-Based Asset Servicing and Securitization LLC on 2/16/07), Fieldstone filed for bankruptcy on 11/26/07
* Top 35 Subprime Lender list has been merged from the following sources: The Mortgage Banker's Association 2006 subprime lenders list and from the website allbusiness.com
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Who originated your loan? 
