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Top 25 Subprime Lender list

(as of Q2 2006; from the Mortgage Banker's Assoc. Red are shutdown and/or bankrupt, blue are no longer operating independently) -
  1. Wells Fargo [not doing much subprime anymore; also not #1 due to reclassifying servicing business]
  2. HSBC Household Finance [HSBC's subprime erased at least half of '06 earnings]
  3. New Century [funding pulled; lending halted, lawsuits, criminal probes, impairments]
  4. Countrywide [subprime to hurt results; layoffs]
  5. Fremont General [2007-03-02; residential subprime activities ceased]
  6. Option One [Sold! to Cerberus.]
  7. Ameriquest [ACC's formerly-major retail subsidiary]
  8. WMC [subsidiary of GE Money; layoffs, subprime causes $373mln hit to Q1'07 profits]
  9. Washington Mutual [some branch closures starting late 2006]
  10. CitiMortgage [tightening standards]
  1. First Franklin [acquired by Merrill Lynch from National City for $1.3bln]
  2. GMAC [Major layoffs in ResCap; more layoffs; Looming writedowns]
  3. Accredited Home [in a serious cash crunch]
  4. BNC [Lehman bros. subsidiary]
  5. ChaseHome Finance
  6. Novastar [announced impairments; likely no dividends post-2007, no taxable income through 2011; shareholder lawsuits]
  7. OwnIt, 2006-12-07 [partially-owned by Merrill and BofA]
  8. Aegis [not doing subprime anymore]
  9. MLN, 2006-12-29 [Much of the sales force has gone to Lehman]
  10. EMC
  1. ResMAE,2007-02-13 [acquired by Citadel (still operating)]
  2. FirstNLC [almost totally shut down]
  3. Decision One [owned by HSBC; rumored to be up for sale; closing 13 of 15 offices?]
  4. ECC/Encore [fire-sale bought out by Bear-Stearns]
  5. Fieldstone [2007-02-16, bought by C-Bass]
(Partly based on information from here. See a list of major Alt-A lenders here.).