Americas Home Mortgage

Americas Home Mortgage

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Note that this policy may change as the manages to ensure that the website performs efficiently and remains available to all users.* Contribution grand total includes employee and soft money contributions from the lender and its subsidiaries. Top recipient totals include employee and political action committee contributions. Data provided by CQ Money Line, analysis by the Center for Public Integrity.

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HomeAmerican

No. 22 of The Subprime 25: American Home Mortgage Investment Corp.


Total high-interest loans 2005-2007:

At least $15.3 billion

Federal bailout money received:

None

Company overview

  • Status: CLOSED. Billionaire investor Wilbur Ross Jr. purchased the servicing unit of the company.
  • History: American Home Mortgage rapidly rose to $1 billion in annual loan volume within about a decade. By October 2006, it claimed to be the tenth largest retail lender in the nation. It stopped lending and closed its doors in August 2007 and filed for Chapter 11 bankruptcy protection the same month.
  • Parent/subsidiary companies:
  • CEO: Founder/CEO: Michael Strauss
    • Most recent salary: 2006 – $907, 185; bonus, $2, 637, 000
  • Location: Melville, New York
  • Year founded: 1987
  • Backers: Bankruptcy filings show the company’s top creditors included Deutsche Bank, JPMorgan Chase, Bank of America, Citigroup, Morgan Stanley, Wells Fargo, and Bear Stearns.

Lobbying overview

  • Lobbying: None found. **
  • Total Contributions: At least $46, 676 *
  • Top Recipients:
    1. Representative Roy Blunt, R-Missouri $5, 000
    2. Representative Peter Roskam, R-Illinois $4, 900
    3. Governor Bill Richardson, D-New Mexico $4, 600
    4. National Republican Congressional Committee $4, 350
    5. The Desert Caucus (PAC) $4, 200

** Lobbying totals calculated by the Center for Public Integrity using data from the Senate Office of Public Records.

* Contribution grand total includes employee and soft money contributions from the lender and its subsidiaries. Top recipient totals include employee and political action committee contributions. Data provided by CQ Money Line, analysis by the Center for Public Integrity.

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This article first appeared on Center for Public Integrity and is republished here under a Creative Commons license.

Competitive ratesBecause we're a full-service lender, we can offer you a variety of loan options without using a broker as a middleman. The result? More options and competitive rates.

Welcome

The stable choiceAfter more than 30 years of catering to our customers’ needs, HomeAmerican has the stability and experience customers are seeking in today's market.

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One-stop shopping for Richmond American buyersEach of our loan officers is well-versed in Richmond American's building process, resulting in a streamlined homebuying experience.

When you choose HomeAmerican Mortgage, we'll assign you a loan officer who will be happy to discuss your unique needs, answer your questions and walk you through the loan process from start to finish.

American

This is the time when we'll ask you to provide bank statements, pay stubs and other documentation to verify the information you provided on your initial application. We will also check on your credit and obtain an appraisal report on your property.

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After the loan application is completed, a Loan Estimate (LE) showing closing costs—including origination charges, any applicable mortgage insurance, title insurance,

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