Bear Stearns Cos., the brokerage and investment bank, said on Monday it will start making home loans to consumers to generate mortgages to sell to investors in the thriving mortgage market.
The brokerage is setting up Bear Stearns Residential Mortgage Corporation to underwrite the loans.
The new company will initially focus on underwriting the most profitable mortgages, known as “non-conforming loans,” including loans with large balances, “Alt-A” loans that require less documentation and sub-prime lending.
For this complete story, please visit Bear Stearns Starts Mortgage Lending Company.
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