You might be interested in Ownit’s BK filing; they say they owe 170 million and have assets of 10 million or so. It’s a big loss for Merrill, which has the biggest repurchases, not to mention losing its 20% stake: http://www.latimes.com/business/la-fi-ownit30dec30,1,2686895.story?coll=la-headlines-business&ctrack=1&cset=true
Merrill Lynch demanded that Ownit repurchase mortgages totaling $93 million. Several other Wall Street firms are seeking smaller amounts, and Calabasas-based Countrywide Financial Corp. has $11 million in loans it wants Ownit to buy back.
Merrill Lynch was Ownit’s chief backer on Wall Street, having bought a 20% stake in the company for $100 million in September 2005.
