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Although the company is reportedly helping many financially troubled homeowners by slashing interest rates for some strapped homeowners, many are angry that businessmen who oversaw a company that ultimately failed in part due to its subprime lending practices can turn around and profit off the housing crisis.
It "stands to profit enormously even if it offers to slash interest rates" to attract those holding delinquent loans to resume payments, the Times reported.
The company's biggest deal has been with the Federal Deposit Insurance Corporation. It paid the government agency just $43.2 million for $560 million worth of residential loans, which were formerly on the books of the failed First National Bank of Nevada.