Luminent Mortgage Company Description
Luminent Mortgage Capital has seen the lights dim in the mortgage market. The company, like industry peers facing rising defaults, has been experiencing cash problems as its lenders call in their notes. Luminent was formed in 2003 to invest in highly rated mortgage-backed securities (MBS); it also invests in MBS with credit ratings below AAA (although it does not invest in subprime loans). Additionally, the company is involved in mortgage loan acquisition and securitization. Most of its investments are backed by Fannie Mae, Freddie Mac, or Ginnie Mae. In 2008, Luminent Mortgage Capital filed for Chapter 11 bankruptcy protection.
View the Comprehensive Company Description for Luminent Mortgage
The Company Description provides a historical perspective of Luminent Mortgage'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 Luminent Mortgage's evolution in the marketplace.
