Friday, January 19, 2007

Equibanc is no more?



Thanks to Max for the tip. Looks like equibanc is no more. Per their Website :


For Immediate Release

Wachovia recently conducted an intensive strategic review of its mortgage business which has altered the company's approach to the origination of non-conforming loans. As a result, Wachovia has elected to close EquiBanc Mortgage - Wachovia's only business dedicated solely to non-conforming loans.

If you have any questions, please contact your Account Executive.




5 comments:

Anonymous said...

Who the hell is next? This is getting very interesting!

Perfect Storm said...

This is from the bokers outpost.

From the rumblings I have been reading on several web sites, one of the top three/five is next to implode......

Lot's more to come, get your popcorn ready.

Perfect Storm said...

Coast Financial is a Bank. That mens A-paper loans. Wow I wonder how much collateral they have. It appears they will have first deed on the land, maybe that is enough.

Anonymous said...

Crispy,

Start a running list of these closures.

I would like to link to resource like that.

Anonymous said...

Go to this site to see a count down of the imploding sub prime lenders. There are going to be lots of bag holders losing billions of dollars....possibly your pension fund.

http://ml-implode.com/