Lehman Brothers announced today the closure of its sub-prime subsidiary BNC Mortgage. Lehman Brothers will continue to originate prime mortgages through its Aurora Loan Services platform but is discontinuing all sub-prime originations.
More sad news from my rep at Accredited Mortgage yesterday afternoon:
I’m sure you’ve all heard the news that we’ve ceased accepting new loan applications. As you can surely guess, this means I am no longer employed. I wanted to thank all of you for your business and wish you the best of luck in the future. My email account will be shut off shortly. If you’d like to stay in touch, here’s an alternate email.
HSBC, Europe’s largest bank, restructured its U.S. mortgage operations and announced plans to close an Indiana office.
Finally, this mysterious communication from Homecomings Financial.