More sad news. Today Capitol One Financial Group announced that effective immediately it is shutting down Greenpoint Mortgage, it’s wholesale lending group. I did a lot of business with Greenpoint over the years. They’ve been a great niche lender, but their eggs were predominately in the Alt-A basket which this market has riddled with holes. Here’s another link to the story.
American Financial Network, Inc. NMLS#207208 - Southern Pines, NC
Mortgage Originator NMLS Licensed in AZ and NC
Marc,
I just saw this today, and was shocked, since I did so much business with them in the past. Wow.
Aug 20, 2007 11:52 AM
Centennial, CO
It doesn't surprise me (with all due respect) that Capital One has a failed mortgage division. They were horrible to deal with from a credit card aspect- have you ever tried to cancel their card? Absolute nightmare for me. Additionally, outrageous interest rates; big annual fees; and willingness to make up from the rest of us the credit issues of whatever percent they lend to without credit worthiness- not my favorite bank.
Aug 20, 2007 11:55 AM
Central Pacific Homeloans - Honolulu, HI
Hi Marc -- I agree with Laurie, however, my heart aches for the 1800+ people that lost there jobs today. Aloha
Aug 20, 2007 12:28 PM
BrokerInTrust Real Estate - Calabasas, CA
CA Real Estate Broker
Wow, I was a mortgage broker in the late 80's and early 90's and Greenpoint was one of my first wholesale lenders. Sorry to see the go.
Aug 20, 2007 12:36 PM
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