Chase Manhattan Funding, Woodcliff Lake, N.J., is looking for strategic alliances among the battered subprime lending companies.Chase executive vice president Sam Cooper told a Housing Roundtable meeting in Washington, D.C. Thursday morning that he just received approval to seek out strategic alliances. "Companies at $30 a share I didn't like. At $15 a share I felt OK about. At $5 a share they look pretty attractive," he said. Chase recently completed a whole loan sale of $2.5 billion in subprime mortgages, and since January the company has been diversifying its originations. "We have moved very dramatically into retail," Mr. Cooper said. CMF has opened 18 retail offices this year.
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