Allstate Home Loans, DBA Allstate Funding, which was bought out by Shearson Financial in August of 2006, has apparently ceased wholesale and retail lending operations… Read More »Allstate Home Loans Shut Down After Buyout
From what I’ve been hearing lately, the secondary mortgage market is completely dead. The only loans that seem to be selling successfully on the secondary… Read More »Secondary Mortgage Market Flat
According to an announcement posted on the FNBA website, First National Bank of Arizona has their suspended wholesale and correspondent originations to focus on the… Read More »FNBA Shuts Down Wholesale and Correspondent Divisions
Greenpoint Mortgage was shut down today by parent Capital One Financial Corp., who said weak demand for residential home loans forced the company to shut… Read More »Greenpoint Mortgage Closed
A Wall St. Journal article regarding the layoffs of Countrywide employees was released early this morning by a journalist who seemed to be privy to… Read More »Countrywide Hiring As New Layoffs Reported
At the KBW Inc. Large Cap Bank Conference in Kohler, Wisconsin last week Michael Rowen, VP of investor relations at Capital One Financial spoke to… Read More »Capital One VP Sparks Greenpoint Mortgage Fears
Ever since the now infamous Merrill analyst Countrywide downgrade and the accompanying bankruptcy comment, the news media and bloggers throughout the nation have been going… Read More »Countrywide News Dissected
First Magnus, the nation’s 22nd largest residential mortgage lender announced on their website this morning that they are no longer funding any home loans. The… Read More »First Magnus Financial Closed
***Click here for today’s news: 1/8/08 Countrywide shares plunge on bankruptcy rumors. The inevitable happened today. Shares of Countrywide, the largest mortgage lender in the… Read More »Countrywide Bankruptcy Fears
After a terrible day on Wall Street, with shares of his company shedding nearly half their market value, Thornburg Mortgage president Larry Goldstone attempted to… Read More »Thornburg Stock Tumbles, Bankruptcy Ruled Out
