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GreenPoint's nonconforming Niche. (Cover Report: Secondary Market).(GreenPoint Mortgage Corp.)(Cover Story)
Mortgage Banking
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April 1, 2002|
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COPYRIGHT 2002 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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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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