GreenPoint's nonconforming Niche. (Cover Report: Secondary Market).(GreenPoint Mortgage Corp.)(Cover Story)

Mortgage Banking | April 1, 2002| | Copyright

Novato, California-based GreenPoint Mortgage did a whopping $26 billion worth of lending last year. That is a huge amount for a nonconforming player, and the mortgage company's executives say that is just the beginning.

THE REFINANCING MARKET HAD BEEN GOOD TO NOVATO, CALIFORNIA-BASED GreenPoint Mortgage. So good that, when the market showed signs of decline, President and Chief Executive Officer S.A. Ibrahim and two of his colleagues sat down to eat at a Chinese restaurant and started brainstorming new products.

In minutes, they had the outline of a new ...

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