C-BASS Company Description
When the subprime market got fishy, C-BASS had to be thrown back. Credit-Based Asset Servicing and Securitization (C-BASS) purchased and securitized credit-sensitive and nonperforming single-family residential mortgages, investing in whole loans, subordinated securities, and properties that were are on the verge of being foreclosed upon. It also develops loan-default management technology. In 2007 C-BASS bought Fieldstone Investment Corporation, which signalled the beginning of the end when Fieldstone's mortgage unit declared bankruptcy. C-BASS could not meet lenders' margin calls and had to throw in the towel itself and begin liquidation.
View the Comprehensive Company Description for C-BASS
The Company Description provides a historical perspective of C-BASS's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of C-BASS's evolution in the marketplace.
