Industry News

GE to unload WMC Mortgage

$3.7 billion in subprime, zero-down loans sold off in Q2
Published on Jul 13, 2007

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by CareyBot

General Electric Co. plans to sell its subprime lending unit, WMC Mortgage, and has already unloaded $3.7 billion in WMC loans in the second quarter, the company announced Friday. Based in Burbank, Calif., WMC Mortgage was reportedly once the fifth-largest ...