Founded in 1992 and headquartered in Irvine, California, Option One Mortgage Corporation became one of the largest subprime mortgage lenders in the United States. As a subsidiary of H&R Block, it specialized in originating and servicing non-conforming residential mortgages for borrowers with poor credit histories. The company played a significant role in the mortgage-backed securities market leading up to the 2007-2008 financial crisis. Due to the collapse of the subprime market, H&R Block closed the company in 2008, selling its loan servicing platform to American Home Mortgage Servicing (which was later acquired by Ocwen).

Founded in

United States