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Atlanta's #1 Mortgage Company for the past 10 year....Gone!

HomeBanc Corp. Announces Intention to Exit the Mortgage Loan Origination Business
Tuesday August 7, 8:30 am ET

ATLANTA, Aug. 7 /PRNewswire-FirstCall/ -- HomeBanc Corp. ("HomeBanc" or "the Company") today announced that it intends to exit the mortgage loan origination business.

The Company at present is unable to borrow on its credit facilities and was unable to fund its mortgage loan funding obligations beginning August 6, 2007. Accordingly, the Company does not anticipate funding any future mortgage loans, and is no longer accepting any mortgage loan applications or funding any mortgage loans previously originated and not yet funded. The Company is seeking the most appropriate course of action to preserve the value of its remaining assets.

Stephen Katz

Katz Mortgage Team

Posted by Stephen Katz on 08/07/2007 11:35 AM

Comments (3)

homebanc, mortgage, loans, atlanta, loan application

3 Comments on Atlanta's #1 Mortgage Company for the past 10 year....Gone!

AUG

2007

I heard this this morning and thought maybe it was just my branch. I had my 1st personal mortgage with homebanc and conducted my first 2 years of business exclusively with homebanc I am surprised.

WOW> that house of card are falling like fly's. Am i the only one a bit scared? Really makes you think that is forsure.

There are only 2 types of mortgage companies that will survive this mess. The big banks and the small brokers. If you work with or for a company that does "mortgage banking" with warehouse lines and does not lend their own money, watch out.

Stephen Katz

Katz Mortgage Team

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