ECC Capital Company Description
ECC Capital refused to conform -- to credit scoring criteria. The real estate investment trust (REIT) originates and purchases non-conforming residential real estate loans. Subsidiary Performance Credit, which used to act as a wholesale originator of nonconforming loans, now provides financing to ECC Capital's clients. The company is licensed in California, Georgia, Illinois, Massachusetts, Minnesota, Mississippi, and New Hampshire. In 2007 ECC Capital sold its wholesale mortgage banking subsidiary Encore Credit to Bear Stearns. Concurrent with that transaction, the REIT also sold its portfolio of direct-to-consumer loans to ResCap. It is now seeking a buyer for the remainder of its securitized assets.
View the Comprehensive Company Description for ECC Capital
The Company Description provides a historical perspective of ECC Capital'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 ECC Capital's evolution in the marketplace.
