Industry News

Bear Stearns moves into subprime lending

Expects to boost mortgage loan production to $1 billion a month
Published on Oct 11, 2006

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by CareyBot

Bear Stearns is moving into the subprime lending business with the acquisition of Encore Credit Corp.’s mortgage banking platform. Encore Credit, a subsidiary of ECC Capital Corp., will operate as a separate division of Bear Stearns Residential Mortgage Corp. Bear ...