Top Subprime Loan Originators
To give you an idea of who was originating the most subprime loans in the last year and change, take at look at the tables below provided by Nationalmortgagenews.com
In the most recent quarter, Countrywide was the top subprime loan originator, barely edging out HSBC Finance. But as you can see, HSBC cut their subprime production in half since last year, while Countrywide remained close to year-ago levels.
Wells Fargo was a major player in subprime over the last year as well, though they’ve reduced their position recently back to year-ago levels as well.
Take a look at the numbers from a year ago just to see the shear drop in volume of subprime loan origination, it’s astounding.
And you may recognize some banks in the list that are now bankrupt, laying off employees, or simply closed lenders.
