. . . EXHIBIT 21.1 SUBSIDIARIES OF REGISTRANT <Table> <Caption> HAWTHORNE FINANCIAL CORPORATION, a Delaware corporation HFC Capital Trust I, HFC Capital Trust II HFC Capital Trust III Hawthorne Savings, F.S.B., HFC Capital Trust IV, a Delaware business trust a Delaware business trust a Delaware business trust a federal savings bank a Delaware business trust HS Financial Services Corp. a California corporation </Table>