Earlier this month New Century Financial, a major independent subprime lender, filed for bankruptcy.
The latest, on December 7th, was Ownit Mortgage Solutions, the 17th-largest subprime lender.
Earlier this month New Century Financial (nyse: NEW - news - people ), a major independent subprime lender, filed for bankruptcy.
As the sharks circled beleaguered subprime lender New Century Financial Monday, speculation also swirled about which investment banks held the most exposure to the sector.
Another subprime lender, Fremont General, said recently it was seeking a buyer for its business after reaching a cease and desist agreement with the Federal Deposit Insurance Corp.
Bruce Marks is the head of the Neighborhood Assistance Corporation of America, or NACA. He doesn't like that PennyMac founders came out of Countrywide, an aggressive subprime lender.
On Friday, General Electric 's WMC Mortgage, the fifth-largest subprime lender, said it was putting a halt to no-down-payment loans, or loans to borrowers with credit scores below 600.
The bank was badly hit during the financial crisis and has struggled with losses on mortgage assets related to Merrill and its 2008 purchase of subprime lender Countrywide Financial.
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Nor did it save U.K. hedge fund Northern Rock, Netherlands-based hedge fund Carlyle Capital or U.S. subprime lender New Century Financial (other-otc: CYFL.PK - news - people ).
Another subprime lender, Fremont General (nyse: FMT - news - people ), said recently it was seeking a buyer for its business after reaching a cease and desist agreement with the Federal Deposit Insurance Corp.
On Friday, General Electric 's (nyse: GE - news - people ) WMC Mortgage, the fifth-largest subprime lender, said it was putting a halt to no-down-payment loans, or loans to borrowers with credit scores below 600.
One is ProPublica, which funds investigative journalism from an endowment given by Herbert and Marion Sandler, the founders of Golden West Financial, a big subprime lender (making it one of the few good things to come out of America's mortgage mess).
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Lagow had filed a suit against his former employer, subprime mortgage lender Countrywide Financial, alleging appraisal fraud.
In other words, regulators intend to end the days when subprime mortgages were packaged as securities by the original lender and sold with no further recourse.
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German lender IKB was one of the first European banks to suffer from subprime problems, and the European Commission currently is examining the legitimacy of the German government's plans to bail it out.
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