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Aurora Bank was a federal savings bank (FSB) headquartered in Wilmington, Delaware, established in 1921 under the name Delaware Savings And Loan Association. [ 1 ] [ 2 ] It reorganized as an FSB in 1988 [ 3 ] and became a subsidiary of Lehman Brothers in 1999, renamed as Lehman Brothers Bank.
In 1997, Lehman bought Colorado-based lender Aurora Loan Services, an Alt-A lender. In 2000, to expand their mortgage origination pipeline, Lehman purchased West Coast subprime mortgage lender BNC Mortgage LLC. Lehman quickly became a force in the subprime market. By 2003 Lehman made $18.2 billion in loans and ranked third in lending.
As a subsidiary, UNIPAC Service Corporation was then renamed Nelnet Loan Services, Inc. [4] In June 2000, Nelnet acquired In Tuition, Inc., a loan-servicing company based in Jacksonville, Florida, which was founded in 1979. [5] Nelnet became a publicly traded company in 2003, at which point the two founders were co-CEOs. [1]
Key takeaways. CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through ...
PennyMac Financial Services, Inc. is an American residential mortgage company headquartered in Westlake Village, California.The company's business focuses on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market.
LendingClub Corporation is an American financial services company headquartered in San Francisco, California. [6] It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market.
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