Top 15 Creditors (by Size) to New Century

Wednesday, April 04, 2007 | 07:30 PM

Real Estate Wednesday continues with this short list, pulled from New Century's bankrupcy filing (Why do I have to go across the pond to find stuff like this?)

"Goldman Sachs has emerged as the single biggest creditor of New Century, the American sub-prime mortgage lender, which filed for Chapter 11 bankruptcy last night, after writing $60 billion (£30.4 billion) of American home loans.

Barclays, the British bank, is at No 15 in the list of top 50 creditors. HSBC, which is already directly exposed to turmoil in the sub-prime market through its US sub-prime lending subsidiary, is at No 22."

Here's the top lenders to New Century, which prior to their Chapter 11 bankruptcy filing, had borrowed over $60 billion to underwrite sub-prime home loans.

Top 15 Creditors (by Size) to New Century

1 Goldman Sachs Mortgage Company

2 Credit Suisse First Boston Mortgage Capital LLC

3 Credit-Based Asset Servicing and Securitization LLC

4 Morgan Stanley Mortgage Capital

5 DB Structured Products

6 Deutsche Bank

7 Bank of America

8 UBS Real Estate Securities

9 Lehman Brothers Bank FSB

10 Countrywide

11 Citigroup Global Markets Realty

12 Residential Funding Corporation

13 SG Mortgage Finance

14 IXIS Real Estate Capital

15 Barclays Bank

Crazy stuff . . .


New Century collapse sends shockwaves across the biggest lenders on Wall Street
Robert Lindsay
The Times, April 4, 2007

Wednesday, April 04, 2007 | 07:30 PM | Permalink | Comments (39) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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I wonder if Goldman has a 'clawback' provision for all those year-end bonuses?

Posted by: wally | Apr 4, 2007 7:56:11 PM

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