By Posted in News and CommentsAs we wait out Countrywide (latest update here), other mortgage lenders continue to fall. From the Arizona Daily Star – First Magnus Financial Corp., a mortgage lender that is one of Tucson’s only locally based national firms and one of the area’s major employers, is no longer writing loans as of this morning… An e-mail… Continue Reading
By Posted in News and CommentsContinuing the news about local lender Homebanc’s recent bankruptcy filing (and the general meltdown of the sub-prime market), Forbes has an article about Georgia closing attorneys holding the bag for rubber checks. "Some lenders – HomeBanc was one of them – pretty much insisted on doing their funding by check," Hudnall said. Given HomeBanc’s regular… Continue Reading
