Interest Rate Roundup

Monday, August 20, 2007

GreenPoint goes under

Late-breaking news: Capital One Financial is shutting down its GreenPoint Mortgage unit. Around 1,900 workers will be let go and the diversified lender will take a charge of about $860 million related to the move. Capital One scooped up GreenPoint when it acquired north Fork Bancorporation at the end of 2006. GreenPoint originated about $36 billion in mortgages last year, according to the National Mortgage News stats I have -- making it the 20th largest such lender in the country.


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