Founded in 1988, GreenPoint Financial Corp. grew to become a prominent American financial services company focused on mortgage banking. It was a leading national originator of non-conforming loans, particularly Alt-A and "no-doc" mortgages, which served borrowers who did not meet traditional prime lending criteria. In December 2006, Capital One acquired GreenPoint for $13.2 billion as a strategic entry into the mortgage market. However, facing the rapid deterioration of the subprime mortgage sector, Capital One announced the closure of GreenPoint's wholesale mortgage operations in August 2007.

Founded in

United States