WMC Mortgage
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GE’s subprime lender WMC Mortgage files for Chapter 11 bankruptcy
Apr 24, 2019General Electric is moving closer to putting its failed attempt to capitalize on the subprime lending boom into its rearview mirror. Earlier this month, GE agreed to pay a fine of $1.5 billion as part of a settlement with the Department of Justice over the pre-crisis lending activities of the company’s shuttered subprime lending unit, WMC Mortgage. And this week, WMC Mortgage filed for Chapter 11 bankruptcy.
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GE to pay $1.5 billion fine over WMC Mortgage subprime loans
Apr 12, 2019 -
GE claims it reached $1.5 billion settlement with DOJ over WMC subprime loans
Jan 31, 2019 -
GE books $1.5 billion for potential settlement with DOJ over WMC subprime loans
May 07, 2018 -
Former WMC CEO Leads Acquistion of “High-Touch” Special Servicer
Sep 23, 2008 -
Friday Night, Lights Out — Fitch Downgrades $5.3 Billion in RMBS
Dec 21, 2007
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