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A Scorecard of Ailing & Dead Subprime Servicers.(Brief article)

Mortgage Servicing News

| April 01, 2007 | COPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(Dollars in Millions)

 
    Servicer             B&C      The 
    Name                 Serv.    Situation 
 
    Option One          $69,039   Hurt by buybacks, parent trying to sell it 
    Ameriquest/Argent   $65,000   Losing money, may be sold to Citigroup 
    Homecomings (e)     $50,849   Parent, GM, may take $1 billion hit on bad 
                                  loans 
    HSBC Finance        $49,465   Huge B&C reserves, parent may sell loans 
    New Century         $40,000   Losing money, criminal probe, may go BK 
    Fremont (e)         $27,500   Hit with C&D, trying to sell business 
    MLN (bk)            ...

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Source: HighBeam Research, A Scorecard of Ailing & Dead Subprime Servicers.(Brief article)