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Home > Company Index > Financial Services > Mortgage Banking & Related Services > BNC Mortgage, Inc.

BNC Mortgage, Inc.
 PROFILE
BNC Mortgage originates subprime residential mortgages for customers who don't meet standard lending criteria. The company then sells virtually all of its loans, including servicing rights, into the secondary market for cash. BNC's subprime wholesale division works with about 5,000 independent loan brokers and accounts for a majority of the company's loan originations. Its wholesale prime division buys and sells mortgages for high credit borrowers. The company has more than 30 offices throughout the US. Formerly a public firm, BNC is owned by its management, which bought all of the company's outstanding shares in 2000.

 COMPETITION
Countrywide Credit Industries, Inc. (CCR)
Imperial Credit Industries, Inc. (ICII)

 DEALS
Deal: BNC Mortgage Buys America's Lender
Date Announced: 03.01.99
Value of transaction (US $Mil): 0
Description: Finance company buys Web-based mortgage company.

 FINANCIAL OVERVIEW
Fiscal Year-End: June
1999 Sales (mil.): 53.00
1-Yr. Sales Growth: 19.1%
Employees: 415
Revenue per employee: $127,710.84

 KEY PEOPLE
• Kelly W. Monahan
    CEO
• Peter R. Evans
    CFO

 CONTACT INFO
1063 McGaw Ave.
Irvine, CA 92614
US
Phone: 949-260-6000
Fax: 949-260-6078
Online: Web Site

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