The Subprime 25

Introduction

These top 25 lenders were responsible for nearly $1 trillion of subprime loans, according to a Center for Public Integrity analysis of 7.2 million “high interest” loans made from 2005 through 2007. Together, the companies account for about 72 percent of high-priced loans reported to the government at the peak of the subprime market. Securities created from subprime loans have been blamed for the economic collapse from which the world’s economies have yet to recover.

1. Countrywide Financial Corp.
   Amount of Subprime Loans: At least $97.2 billion

2. Ameriquest Mortgage Co./ACC Capital Holdings Corp.
   Amount of Subprime Loans: At least $80.6 billion

3. New Century Financial Corp.
   Amount of Subprime Loans: At least $75.9 billion

4. First Franklin Corp./National City Corp./Merrill Lynch & Co.
   Amount of Subprime Loans: At least $68 billion

5. Long Beach Mortgage Co./Washington Mutual
   Amount of Subprime Loans: At least $65.2 billion

6. Option One Mortgage Corp./H&R Block Inc.
   Amount of Subprime Loans: At least $64.7 billion

7. Fremont Investment & Loan/Fremont General Corp.
   Amount of Subprime Loans: At least $61.7 billion

8. Wells Fargo Financial/Wells Fargo & Co.
   Amount of Subprime Loans: At least $51.8 billion

9. HSBC Finance Corp./HSBC Holdings plc
   Amount of Subprime Loans: At least $50.3 billion ***

10. WMC Mortgage Corp./General Electric Co.
    Amount of Subprime Loans: At least $49.6 billion

11. BNC Mortgage Inc./Lehman Brothers
    Amount of Subprime Loans: At least $47.6 billion ***

12. Chase Home Finance/JPMorgan Chase & Co.
    Amount of Subprime Loans: At least $30 billion

13. Accredited Home Lenders Inc./Lone Star Funds V
    Amount of Subprime Loans: At least $29.0 billion

14. IndyMac Bancorp, Inc.
    Amount of Subprime Loans: At least $26.4 billion

15. CitiFinancial / Citigroup Inc.
    Amount of Subprime Loans: At least $26.3 billion

16. EquiFirst Corp./Regions Financial Corp./Barclays Bank plc
    Amount of Subprime Loans: At least $24.4 billion

17. Encore Credit Corp./ ECC Capital Corp./Bear Stearns Cos. Inc.
    Amount of Subprime Loans: At least $22.3 billion

18. American General Finance Inc./American International Group Inc. (AIG)
    Amount of Subprime Loans: At least $21.8 billion ***

19. Wachovia Corp.
    Amount of Subprime Loans: At least $17.6 billion.

20. GMAC LLC/Cerberus Capital Management
    Amount of Subprime Loans: At least $17.2 billion ***

21. NovaStar Financial Inc.
    Amount of Subprime Loans: At least $16 billion

22. American Home Mortgage Investment Corp.
    Amount of Subprime Loans: At least $15.3 billion

23. GreenPoint Mortgage Funding Inc./Capital One Financial Corp.
    Amount of Subprime Loans: At least $13.1 billion

24. ResMAE Mortgage Corp./Citadel Investment Group
    Amount of Subprime Loans: At least $13 billion

25. Aegis Mortgage Corp./Cerberus Capital Management
    Amount of Subprime Loans: At least $11.5 billion

***Total includes subsidiaries