OC Register - "Brea lender ResMae goes under" (2-14-07)

"ResMae Mortgage, a Brea-based lender with 1,037 workers, has filed for bankruptcy protection and agreed to sell its assets to Credit Suisse Group for $19 million. ResMae, which made nearly $8 billion in loans last year and is one of the top 25 subprime lenders in the nation, hopes the sale will allow it to preserve more than 800 jobs, or 77 percent of its work force."

"In December, Merrill Lynch, the largest buyer of ResMae's loans, demanded it buy back $308 million in loans, according to the bankruptcy filing. ResMae disputes the amount, saying the buyback period has expired for many of them. The issue is unresolved."