Subprime lending execs back in business five years after crash

By Daniel Wagner

Executives from all of the top 25 subprime lending firms are working in the mortgage business five years later.

Excerpts from this story referencing "Bear Stearns":

"… to return is Thomas Marano, who led the mortgage finance division at Bear Stearns and was on the board of its subsidiary, EMC Mortgage. He then took ov …"

You broke it? You fix it.

By John Dunbar

Firms that fed off the subprime lending frenzy that devastated the banking system are lining up to collect more than $21 billion in taxpayer

Excerpts from this story referencing "Bear Stearns":

"… ortgage Corp., another program participant. EMC was a former subsidiary of Bear Stearns, the first major U.S. investment bank to falter last year. JPMorgan picked …"

"… investment bank to falter last year. JPMorgan picked up EMC when it bought Bear Stearns (with government help) last year. Including the EMC total, JPMorgan could …"

"… 9. EMC Mortgage Corp., Lewisville, Texas — $707.4 millionEMC was part of Bear Stearns, which J.P. Morgan bought with assistance from the Federal Reserve Bank of …"

"… Federal Reserve Bank of New York last year. Prior to the purchase in 2008, Bear Stearns agreed to pay $28 million to settle Federal Trade Commission charges of un …"

No. 6 of The Subprime 25: Option One Mortgage Corp./H&R Block Inc.

Total high-interest loans 2005-2007: At least $64.7 billion

Excerpts from this story referencing "American Home Mortgage":

"… s third fiscal quarter, which ended January 31, 2008. On April 30, 2008, American Home Mortgage Servicing Inc., an affiliate of private equity company Wilbur Ross & C …"

The Subprime 25

A full text list of the top 25 lending companies responsible for subprime loans

Excerpts from this story referencing "Washington Mutual":

"… of Subprime Loans: At least $68 billion Long Beach Mortgage Co./Washington Mutual Amount of Subprime Loans: At least $65.2 billion Option One Mor …"