As the problems with subprime mortgages continue to work through the
system, GreenPoint Mortgage, a subsidiary of
Capital One Financial has announced it is closing 12 of
its operational centers and some branch offices with the loss of
approximately 440 positions, primarily account executives, underwriters,
and loan processors.
...GreenPoint is not a subprime lender, Ms. Rakes said, but its focus
is the near prime market, largely the sector called
Alt A mortgages.
...