- Wells Fargo [not doing much subprime anymore; also not #1 due to reclassifying servicing business]
- HSBC Household Finance [HSBC's subprime erased at least half of '06 earnings]
New Century [funding pulled; lending halted, lawsuits, criminal probes, impairments]- Countrywide [subprime to hurt results; layoffs]
Fremont General [2007-03-02; residential subprime activities ceased]Option One [Sold! to Cerberus.]Ameriquest [ACC's formerly-major retail subsidiary]
- WMC [subsidiary of GE Money; layoffs, subprime causes $373mln hit to Q1'07 profits]
- Washington Mutual [some branch closures starting late 2006]
- CitiMortgage [tightening standards]
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First Franklin [acquired by Merrill Lynch from National City for $1.3bln]- GMAC [Major layoffs in ResCap; more layoffs; Looming writedowns]
- Accredited Home [in a serious cash crunch]
- BNC [Lehman bros. subsidiary]
- ChaseHome Finance
- Novastar [announced impairments; likely no dividends post-2007, no taxable income through 2011; shareholder lawsuits]
OwnIt, 2006-12-07 [partially-owned by Merrill and BofA]- Aegis [not doing subprime anymore]
MLN, 2006-12-29 [Much of the sales force has gone to Lehman]- EMC
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ResMAE,2007-02-13 [acquired by Citadel (still operating)]- FirstNLC [almost totally shut down]
- Decision One [owned by HSBC; rumored to be up for sale; closing 13 of 15 offices?]
ECC/Encore [fire-sale bought out by Bear-Stearns]Fieldstone [2007-02-16, bought by C-Bass]
(Partly based on information from here. See a list of major Alt-A lenders here.).
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