Wall Street Run of Subprime Expansion Continues With Bear Stearns’ Purchase of ECC Wholesale Unit
October 13, 2006
Wall Street’s foray into the subprime origination market continued in earnest this week as Bear Stearns announced plans to purchase the wholesale origination unit of ECC Capital Corp., a beleaguered California-based real estate investment trust. “The acquisition of ECC Capital’s origination unit will...