Bear Stearns completes acquisition of ECC Capital sub-prime unitMortgagePress.comSub-prime lending The Bear Stearns Companies Inc. has completed its purchase of ECC Capital Corporation's sub-prime mortgage banking platform for approximately $26 million. Bear Stearns announced the agreement to purchase the principal assets of the sub-prime mortgage origination platform of ECC Capital Corporation's subsidiary, Encore Credit Corporation, in October 2006. Encore Credit will retain its brand name and operate as a separate division of the firm's mortgage bank subsidiary, Bear Stearns Residential Mortgage Corporation. The Bear Stearns Companies Inc. is a financial services firm based in New York. For more information, call (212) 272-2000 or visit www.bearstearns.com. ECC Capital Corporation is a mortgage real estate investment trust based in Irvine, Calif. For more information, call (866) 338-8749 or visit www.ecccapital.com.