The chief executive, the chief operating officer, and the head of human resources have left the Lehman Brothers-owned Finance America, a top-20-ranked subprime lender, MortgageWire has learned.Three sources close to the company confirmed the departures. Two wholesale account executives were also let go, a source confirmed. However, Lehman Brothers declined to comment on the record or to identify the fired executives. The Lehman unit, which table-funds most of its production through loan brokers, employs about 1,000 in 48 states. Besides FA, Lehman controls two other mortgage companies: Aurora Loan Services of Colorado, and BNC Mortgage, Irvine, Calif.
Big Shake-Up at Lehman Subprime Unit
May 23, 2005, 2:00 p.m. EDT 1 Min Read
