Subprime - Goodbye ????

[jmack0415]

Here is a short list of lenders that have stopped doing "Subprime" or have closed down and ceased operations. If you know of any more please post them.

Fremont Investment & Loan has ceased sub prime operations.
Silver State Mortgage
Lenders Direct Capital Corporation
Concorde Acceptance
Deep Green Financial
Millenium Bankshares
Mandalay Mortgage
Equibanc (Sub prime unit of Wachovia)
Funding America
Popular Financial Holdings (Sub prime unit of Banco Popular) Secured Funding MLN (Mortgage Lenders Network) Harbourton Mortgage Investment Corporation (HMIC) Ownit Mortgage Sebring Capital Partners Meritage Mortgage Acoustic Home Loans Aegis (Sub Prime only)

**********************************************************************************
Other Lender News:
Encore Credit - bought by Bear Stearns
ResMae Mortgage Corportion - bought by Credit Suisse American Mortgage Network (Amnet) - merged with Wachovia Bank World Savings - merged with Wachovia Bank Option One Mortgage - looking for a buyer New Century - looking for a buyer Accredited Home Lenders - looking for a buyer Equifirst - bought by Barclay's

Thanks,
Jmack

[Steph Love]

33 Subprime Lenders are out of business. Here's a list of who's out and who's left - ml-implode.com/

Another related article - www.bloomberg.com/apps/news?pid=email_en&refer=home&sid=ahOvmhYLtOP4

As of March 15th Aurora Loan Services, A Lehman Brothers Company, we will no longer have any sub prime programs. Their rate in our sub prime have increased in the neighborhood of 3 to 4% in some programs.

[lendmeadollar]

What in the world is going on?

[Steph Love]

The Non-Conforming (aka Sub Prime) Lending Market is tightening up thier lending guidelines. A lot of lenders have gone out of business over the past month or so. To view more information on the subject view my post under the following link:

[Steph Love]

The Non-Conforming (aka Sub Prime) Lending Market is tightening up their lending guidelines. A lot of lenders have gone out of business over the past month or so. To view more information click on the link I posted in above comment. It will explain in more detail.

[lendmeadollar]

admin said:

33 Subprime Lenders are out of business. Here's a list of who's out and who's left - ml-implode.com/

Another related article - www.bloomberg.com/apps/news?pid=email_en&refer=home&sid=ahOvmhYLtOP4

As of March 15th Aurora Loan Services, A Lehman Brothers Company, we will no longer have any sub prime programs. Their rate in our sub prime have increased in the neighborhood of 3 to 4% in some programs.

I just went to ml-implode.com/ and the number is up to 42!!! This is crazy!!!!!!!

[tbwilliams]

Effective 3/22/2007, SUNSET DIRECT LENDING (SDL) is out of business!

[IFlipHouses]

You guys sound like you know what you're talkin' about... I may be in touch with someone from this board about doing loans for Investors. It looks like my current Broker is having difficulty with my current loans.