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accredited: Mortgage Job Cuts Surpass 38,000 - 08/22/07 03:15 PM
From Yahoo! Financial News: 
Since the start of the year, more than 38,000 workers have lost their jobs at mortgage lending institutions, according to recent company layoff announcements and data complied by global outplacement firm Challenger, Gray & Christmas Inc. Meanwhile, construction companies have announced nearly 20,000 job cuts this year, while the National Association of Realtors expects membership rolls to decline this year for the first time in a decade.
The rest of the article can be read here.
I'm sure there's more to come.  The lenders who are backed by investment banks are beginning to fall, as well as those backed by … (0 comments)

accredited: Accredited Home Lenders Facing Bankruptcy - 08/02/07 05:14 PM
Looks like Accredited may finally give up the ghost.  See below, from Bloomberg.com: 
Accredited May Face Bankruptcy, Merger in Doubt (Update3)
By Bradley Keoun
Aug. 2 (Bloomberg) -- Accredited Home Lenders Holding Co., the subprime mortgage company being acquired by Lone Star Funds, cast doubt on the sale and said bankruptcy is possible. The shares lost more than a third of their value.
``Several of our competitors have recently stopped originating loans or sought protection under bankruptcy laws,'' Accredited said in a regulatory filing today. ``We may suffer a similar fate.''
Wall Street firms and banks that finance the San Diego-based company's lending … (4 comments)

 

Gareth Bourriague - Benchmark Mortgage

Baton Rouge, LA

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Benchmark Mortgage of Louisiana

Address: 8704 Jefferson Highway, Suite B, Baton Rouge, LA, 70809

Office Phone: (225) 927-5282

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