Is Your Lender a Risk Taker?
The Record, Bergen County, NJ (September 03, 2007)
Author: Richard Newman, Staff Writer
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Which New Jersey-based mortgage lender makes the riskiest loans? According to SMR Research Corp., it's CIT Group Inc., which is in the process of exiting its Livingston-based home-loan business.
The second- and third-riskiest underwriters among the largest lenders in New Jersey were Fortress Investment Group, which owns Champion Mortgage in Parsippany; and Opteum Financial Services, which in June sold its Paramus-based loan-origination business on Century Road.Is Your Lender a Risk Taker?
The findings were part of SMR's 250-page study, "The Mortgage Credit Crisis," released last month. The study, the first of its kind by SMR, showed which of the 163 largest lenders nationwide have been the most...
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