ML-Implode News - Former Subprime CEOÂ Hired by Growing Firm - Amy Brandt tapped to oversee expansion

In 2006, WMC Mortgage Corp. employed around 2,250 people and was originating $30 billion annually. At the helm of WMC as president and chief executive officer was Amy Brandt.
By the end of 2007, parent General Electric Co. had had enough of the mortgage business and shut down the Burbank, Calif.-based company.

Brandt, who started at WMC in April 1997, left the company in November 2006... she has been recruited by Prospect Mortgage LLC to lead an expansion of its correspondent lending and mortgage servicing capabilities, according to an announcement Friday.

Sherman Oaks, Calif.-based Prospect has been busy expanding its operations recently... Brandt's new title is president of correspondent lending and servicing.
...
In July 2011, Prospect settled for $3.1 million with the Department of Housing and Urban Development allegations that it was running "sham" branches.

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Former Subprime CEOÂ Hired by Growing Firm - Amy Brandt tapped to oversee expansion