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Premier Mortgage Funding, Inc. Officially Dead???

By Michael Schindler

Mortgage and Lending with Your IRA guy!

December 10, 2007 08:04 AM

I saw over the weekend that the main website for this company is no longer up and running? I've heard some rumors but I thought it's be nice to see what other information we can collect about what the status of Premier Mortgage Funding, Inc. is.........

Premier started out to be a great company and, even with its growing pains, I enjoyed my time there. It was sad that the lending mess hit then hard and fast but-like the other 190+ lenders that have hit the wayside, the lending tornado fallout is wiping a lot of places out.

Please respond if you've heard any updates as to where they stand today.

12/11/07 I just called Premier corporate and all of my old friends are gone-just a skeleton crew left from what it sounds like. I was told it's basically just the main core of people that started with the company :-(

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Michael Schindler

Your IRA guy! - Galesville, WI

Thanks I appreciate that-send them the active rain link!

Dec 10, 2007 08:17 AM

R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham

Bank of England (NMLS#418481) - Raleigh, NC

Bob Mitchell (NMLS#1046286)

I checked the "mortgage implosion" list and didn't see them on it. It's ashame that so many companies are going down and these folks are losing their jobs. What a bummer!

Bob Mitchell

ValueList Real Estate Services, Inc.

Dec 10, 2007 08:18 AM

Thanks for the response!

I think it was a few months ago and I know Jerry (the CEO) was telling people there was great news on the horizon but, then I saw the main website down?

Dec 10, 2007 08:19 AM

Bob-they are on it. I post and update the list on my blogs. #100 Hey! they made a top 100 list :-)

Yes, this market is killing off so many jobs and, a lot of these positions aren't eligible for unemployment so, when the fed comes out and talks about low unemployment data, we all know it's useless info and shouldn't drive the markets like it does.

Dec 10, 2007 08:23 AM

Alix Pinzon

Open Mortgage, LLC NMLS # 2975 - Downey, CA

(562)743-6086

It's hard to imagine how anyone can survive long in this environment. The lenders have become so picky, and it would appears as though there's no money to loan. Let's hope that the feds drop the rate so low that we can all refi. our mortgages, that would save us a bundle, and stimulate the marketplace.

Dec 10, 2007 08:32 AM

Greg:

Thanks for responding. Actually, the fed doesn't control 1st mortgage rates, they set the fed funds and discount rates-the fed funds rate is conected to the prime rate which is used for HELOC's and credit card rates. The fed dropping that rate normally increases the first mortgage rates as first mortgages are traded on the stock market.

Just clarification (and I made it a very brief explanation-one could go very in depth about this).

Dec 11, 2007 12:55 AM

Sharon:

Interesting? I was told up here in Minnesota that they weren't renewing their Minnesots license so the branches were effectively shut down. Then the branches got the dreaded form letter that they were to return all adv material, files, paychex info, etc to corporate within 5 days or face possible charges? Also, that they now have a sister company called Paramount Mortgage Funding, Inc (Still PMF) and that branches should talk to "someone" about making the switch?

Sound familiar to you at all?????

Thanks for responding that adds yet another twist to things......

Dec 11, 2007 12:58 AM

Chuck Up

Sierra Pacific Mortgage - Michigan City, IN

I have not hide nor hair of them, I was a branch and quit in July of last year. They lost so many lenders I had no choice but to move and move fast

Apr 19, 2008 01:01 PM

Premier Mortgage Funding, Inc. Officially Dead???

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Michael Schindler

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