Top 15 Creditors to New Century

 |  Includes: BAC, BCS, C, CFC, CS, DB, GS, LEH, MS, NEWC.PK, UBS
by: Barry Ritholtz

Real Estate Wednesday continues with this short list, pulled from New Century's (PINK:NEWC.PK) bankruptcy filing (Why do I have to go across the pond to find stuff like this?)

Goldman Sachs has emerged as the single biggest creditor of New Century, the American sub-prime mortgage lender, which filed for Chapter 11 bankruptcy last night, after writing $60 billion (£30.4 billion) of American home loans.

Barclays, the British bank, is at No 15 in the list of top 50 creditors. HSBC, which is already directly exposed to turmoil in the sub-prime market through its US sub-prime lending subsidiary, is at No 22.

Here's the top lenders to New Century, which prior to their Chapter 11 bankruptcy filing, had borrowed over $60 billion to underwrite sub-prime home loans.

Top 15 Creditors (by Size) to New Century

1. Goldman Sachs Mortgage Company (NYSE:GS)

2. Credit Suisse First Boston Mortgage Capital LLC (NYSE:CS)

3. Credit-Based Asset Servicing and Securitization LLC

4. Morgan Stanley Mortgage Capital (NYSE:MS)

5. DB Structured Products

6. Deutsche Bank (NYSE:DB)

7. Bank of America (NYSE:BAC)

8. UBS Real Estate Securities (NYSE:UBS)

9. Lehman Brothers Bank FSB (LEH)

10. Countrywide (CFC)

11. Citigroup Global Markets Realty (NYSE:C)

12. Residential Funding Corporation

13 SG Mortgage Finance

14. IXIS Real Estate Capital

15. Barclays Bank (NYSE:BCS)

Crazy stuff . . .