Capital One loses in mortgage closure

- Risk Staff
- 01 Nov 2007

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Capital One acquired GreenPoint, which specialised in jumbo loans above $417,000, last year when it acquired North Fork Bank for $13.2 billion. In the aftermath of the subprime crisis, GreenPoint has laid off 1,900 staff, in addition to over 2,000 job cuts announced in June by Capital One in a bid to reduce costs. Last year Capital One reported a third-quarter income of $587.8 million, reliant upon GreenPoint and Hibernia, which it purchased in 2005 for $4.9 billion, to transform it from a credit card and finance company into a larger banking institution with hundreds of branches.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact info@risk.net to find out more.

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net