Big Subprime Lender Delta Funding Is No More.

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Mortgage and Lending with Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

Got the e-mail today...

Another sub-prime lender goes bye-bye. Delta was very big in the Midwest....although it doesn't surprise me that they are gone (they would do "anything").

Close your doors and go out of business??

DELAT DOES THAT!

About the Company

Founded in 1982, Delta Financial Corporation is a Woodbury, New York-based specialty consumer finance company that has been engaged in the business of originating, securitizing and selling non-conforming mortgage loans.

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Rainer
168,035
Matthew J Blum - (retired from the business)
Palm Beach Gardens, FL

Kris, This has been coming for a while.  I am very sad because this was once a great lender for me.  Yes they did some wacky stuff but if you needed they where always one step away from hard money. 

My heart goes out to the people who work their. Can you imagine this time of year to get your slip?

Dec 07, 2007 01:42 AM #1
Rainer
69,045
Kris Krajecki
Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL - Huntley, IL
Mortgage Broker Huntley, IL

Matthew-

  I agree....terrible time to close your doors. Lime Financial is still out there and they were similar to Delta. Accredited and ResMae are back, but of course, they are a bit tougher these days.

:-)

Dec 07, 2007 01:47 AM #2
Rainmaker
291,454
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing
Does anyone have any information on CitGroup?  Is it still on the watch list or is it at risk like Delta?
Dec 07, 2007 02:49 AM #3
Rainer
69,045
Kris Krajecki
Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL - Huntley, IL
Mortgage Broker Huntley, IL
Not familiar with CitGroup. :)
Dec 07, 2007 03:06 AM #4
Rainmaker
76,187
Robert Monk
100% Realty, Inc. - Santa Rosa Beach, FL
Florida Real Estate
Another one bites the dust!
Dec 07, 2007 06:42 PM #5
Anonymous
Christine

I worked for Delta funding for quite sometime , And If they open back up I would go back in a minute , They were great to theyre employees , and Did and fantastic job , And dispite what you may think We were a very tight company as far as what we would lend on

May 20, 2008 05:43 AM #6
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Rainer
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Kris Krajecki

Mortgage Broker Huntley, IL
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