MORTGAGE LOAN COMPLIANCE®

Finn Casperson, former Chief Executive Officer of Beneficial Finance, has been found dead in what authorities say is an apparent suicide.

Beneficial Finance was once one of the largest players in consumer home equity-based lending. When Finn Casperson became CEO of the firm he succeeded his father.

Casperson served as CEO from 1976 to 1998, during a time when the firm specialized in low loan-to-value ratio second liens backed by homes.

Later in 1998 Beneficial was sold to Household International for $9 billion. HSBC Holdings eventually bought Household for $14 billion. The British bank later booked huge losses on Household's subprime business.

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