Greenpoint and Accredited Latest to be axed... Over 120++ Lenders so Far!!! List below!

By
Services for Real Estate Pros with Pacific Servicing

What is the lending market coming to? Its creating the perfect storm for places like Temecula And Murrieta where I currently reside. We sit 90 miles from Los Angeles and 60 miles from San Diego, and everyone who paid $700,000+ for a track home is hurting. Homes Here should have never gotten above $300,000 being it wasn't designed as a master planned city but as a commuter zone

How many more lenders will go under before this is all over?? Any comments or additional lenders??

LENDER LIST... I WILL UPDATE AS MORE GO DOWN! ACCREDITED AND GREENPOINT CLOSED DOORS THIS WEEK!

 132. BNC Mortgage (Lehman)
131. Accredited Home Lenders
130. First National Bank of Arizona (FNBA) Wholesale, Correspondent
129. GreenPoint Mortgage - Capital One Wholesale
128. NovaStar (Wholesale), Homeview Lending
127. Quick Loan Funding
126. National City Home Equity
125. Calusa Investments
124. Mercantile Mortgage
123. First Magnus
122. First Indiana Wholesale
121. Pacific American Mortgage (PAMCO)
120. Spectrum Financial Group - Wholesale
119. Express Capital Lending
118. Deutsche Bank Correspondent Lending Group (CLG)
117. MLSG
116. Trump Mortgage
115. HomeBanc Mortgage Corporation
114. Mylor Financial
113. Aegis (Everything)
112. Alternative Financing Corp (AFC) Wholesale
111. Winstar Mortgage
110. American Home Mortgage / American Brokers Conduit
109. Sunset Mortgage
108. Fieldstone Mortgage Company
107. Nations Home Lending
106. Wells Fargo Alternative Lending Wholesale
105. Entrust Mortgage
104. Alera Financial (Wholesale)
103. Flick Mortgage/Mortgage Simple
102. Alliance Bancorp
101. Choice Capital Funding
100. Premier Mortgage Funding
99. Stone Creek Funding
98. FlexPoint Funding (Wholesale & Retail)
97. Starpointe Mortgage
96. Unlimited Loan Resources (ULR)
95. Freestand Financial
94. Steward Financial
93. Wells Fargo (Correspondent)
92. Bridge Capital Corporation
91. Altivus Financial
90. ACT Mortgage
89. Alliance Mortgage Banking Corp (AMBC)
88. Concord Mortgage Wholesale
87. Heartwell Mortgage
86. Oak Street Mortgage
85. The Mortgage Warehouse
84. First Street Financial
83. Right-Away Mortgage
82. Heritage Plaza Mortgage
81. Horizon Bank Wholesale Lending Group
80. Lancaster Mortgage Bank (LMB)
79. Bryco (Wholesale)
78. No Red Tape Mortgage
77. The Lending Group (TLG)
76. Pro 30 Funding
75. NetBank Funding
74. Columbia Home Loans, LLC
73. Mortgage Tree Lending
72. Homeland Capital Group
71. Nation One Mortgage
70. Dana Capital Group
69. Millenium Funding Group
68. MILA
67. Home Equity of America
66. Opteum (Wholesale, Conduit)
65. Innovative Mortgage Capital
64. Home Capital, Inc.
63. Home 123 Mortgage
62. Homefield Financial
61. First Horizon (Subprime)
60. Platinum Capital Group
59. First Source Funding Group (FSFG)
58. Alterna Mortgage
57. Solutions Funding
56. People's Mortgage
55. LowerMyPayment.com
54. Zone Funding
53. First Consolidated (Subprime Wholesale)
52. EquiFirst
51. SouthStar Funding
50. Warehouse USA
49. H&R Block Mortgage
48. Madison Equity Loans
47. HSBC Mortgage Services (correspondent div.)
46. Sunset Direct Lending
45. Kellner Mortgage Investments
44. LoanCity
43. CoreStar Financial Group
42. Ameriquest
41. Investaid Corp.
40. People's Choice Financial Corp.
39. Master Financial
38. Maribella Mortgage
37. FMF Capital LLC
36. New Century Financial Corp.
35. Wachovia Mortgage (Correspondent div.)
34. Ameritrust Mortgage Company (Subprime Wholesale)
33. Trojan Lending (Wholesale)
32. Fremont General Corporation
31. DomesticBank (Wholesale Lending Division)
30. Franklin Financial (Wholesale Operations)
29. Ivanhoe Mortgage/Central Pacific Mortgage
28. Eagle First Mortgage
27. Coastal Capital
26. Silver State Mortgage
25. ResMAE Mortgage Corporation
24. ECC Capital/Encore Credit
23. Lender's Direct Capital Corporation (wholesale division)
22. Concorde Acceptance
21. DeepGreen Financial
20. Millenium Bankshares (Mortgage Subsidiaries)
19. Summit Mortgage
18. Mandalay Mortgage
17. Rose Mortgage
16. EquiBanc
15. FundingAmerica
14. Popular Financial Holdings
13. Clear Choice Financial/Bay Capital
12. Origen Wholesale Lending
11. SecuredFunding
10. Preferred Advantage
9. MLN
8. Sovereign Bancorp (Wholesale Ops)
7. Harbourton Mortgage Investment Corporation
6. OwnIt Mortgage
5. Sebring Capital Partners
4. Axis Mortgage & Investments
3. Meritage Mortgage
2. Acoustic Home Loans
1. Merit Financial

Posted by

 

 

Ryan Case - Partner

Pacific Servicing, LLC

Ryan@PacificServicing.com

(800) 313-9050 - Office

(951) 760-3170 - Mobile

(951) 501-2926 - Fax

ps

Comments (5)

Suburban Chicago Illinois Real Estate
Suburban Village Realty - Barrington, IL
Wow -- that is quite an extensive list! I remember looking at homes long ago in Temecula when we were in the hospitality business and can't believe they've gotten that high in price.
Aug 22, 2007 08:28 AM
Ryan Case
Pacific Servicing - Temecula, CA

Yeah it is... and more will be added im sure by weeks end! Temecula got ridiculous! 2 years ago people were paying $750,000 for a 3500 sq ft home! Those same homes now are going back on the market with holes in the walls and dead lawns at $475,000.... In part because of all the lenders above, who lent to any person with a pulse. Wolf Creek , Morgan Hill , Temeku Hills , Valdemosa , And All of Murrieta are in complete shambles right now with homes as low as $300,000 right now. But as the lenders keep closing and loans tighten up, along with 100% financing gone, its going to get a lot worse!

Aug 22, 2007 08:32 AM
Sharon "Toni" Brown
Exit Realty United - South Ozone Park, NY
South Ozone Park - New York City Real Estate

Well with all the companies that are closing their doors, it pays homage to having multiple streams of income.  I am not trying to spam your post Ryan and I apologize in advance to any I may offend.  Folks have to eat. But anyone looking to earn extra (legally and ethically)and create residual income should feel free to look at my blog page and peruse my links, you'll see the one.

I am not suggesting a career change, but it's nice to have those checks between closings.  We need the good folks to stay in the industry and trust and believe the companies still in business will find you.  Best of Luck

Aug 22, 2007 08:32 AM
John Karadsheh
KOR Properties - Mesa, AZ
ABR, CRS - REALTOR - Mesa, Arizona - Las Sendas
More than a little scary!  I guess the old saying only the strong will survive is starting to ring true!
Aug 22, 2007 09:41 AM
Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!

this is the ultimate in negativity keeping a list of failed mortgage pretenders.

i don't see a single company on this list that in any way prevents me from continuing to do business.

oh well. 

Aug 22, 2007 12:09 PM