Thursday, January 25, 2007

ITS OFFICIAL



Per their Website :

12 comments:

Anonymous said...

Mandalay Mortgage Closing Its Doors
Mandalay Mortgage, Woodland Hills, Calif., a top-30-ranked subprime wholesale originator, is closing its doors at the end of the month and will stop funding loans, sources familiar with the situation have told MortgageWire.

Rob Dawg said...

All subprime and alt-a lenders are exactly the same. Whatever killed them has killed all the others, just they don't know it yet. Woodland Hills is just a few freeway exits past Countrywide's Corporate HQ.

Bakersfield Bubble said...

When does one of the top 5 go down if at all?

Everything I am reading states the buybacks are the killer for these guys.

Mozo Maz said...

Just spotted this on CR's blog. IndyMac freezes pay and plans 50% reduction in force by year end

IndyMac Cuts

Bakersfield Bubble said...

Thanks Mozo- WOW!

50% RIF.

Mozo Maz said...

SLAM!

Millennium Bankshares just closed it's mortgage division.

http://biz.yahoo.com/bizj/070125/1408132.html?.v=1

re said...

More on Fremont which is one of the top 5 ‘non-prime’ lenders.

http://forum.brokeroutpost.com/loans/forum/2/88772.htm

i got some scoop from former AEs… they are still in business and competitive at what they do… however 4th quarter buybacks are going to be in the hundreds of millions.. looking for a buyer - possible Bear Stearns.. thanks for everyone’s posts..

moqui said...

suggestion to CEO's of mortgage companies - Wear kevlar when downsizing


http://cbs2.com/topstories/local_story_025102007.html

Police Thursday searched for a gunman who shot a man in the stomach at a Woodland Hills mortgage company.

re said...

http://www.brokeruniverse.com/grapevine/thread/?thread=352485

"not sure how many of you have heard of them, but BOMAC/Unprime Securities fired their sales staff.

They were bought out by Mortgage Express (out of California) last week. My buddy, who WAS an AE there, say they are all but DONE.
"
http://unprime.com/

Bakersfield Bubble said...

Thanks re!

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