Wednesday, January 24, 2007

Mandalay Mortgage




Is Mandlay Mortgage the next to go?

Lots of chatter at Brokers Universe :



>>>>MANDALAY MORTGAGE..... DONE!!!!! ANYBODY PICKING UP THESE FILES??? <<<<
JUST GOT WORD... ANOTHER ONE BITES THE DUST... WHO'S NEXT?by I TYPE IN CAPS January 24, 2007


Nice comments jackass. I know a lot of the sales people there and I wish them the best. From what I can tell they are going out with class and funding all loans that have been sent to docs.by itsacycle January 24, 2007


wow. thats what i have been hearing for the past couple of weeks by I love this job, horah! January 24, 2007




Yes. I am a former employee and I have spoken to several current employees today and there have closed their doors. They were a great group of professionals but these are brutal times especially for the mid to small size subprime lenders. There will be more to closings to come.

There are a lot of people who think it is cool to say that these closings are not important but it effects a lot of lives and will eventually come back to haunt the Brokers that they have served.

Just my two cents.
by Loanpro07 January 24, 2007

8 comments:

Mozo Maz said...

CFHI may already be in survival mode. (Stock price has been cut in half in 5 days.)

Coast Seeks Advice of Financial Advisor

Could be a classic bank run in the making... Would be fascinating to see what the CD rollover rate is the next couple of weeks.

Bakersfield Bubble said...

If I had money there - I would take it out of that bank right NOW!

Anonymous said...

It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increase.

Renters, and anybody born in a future generation, will not be able to afford a $10,000,000 starter home in 15 years. They will live in tent cities, and Hondas.

This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.

Perfect Storm said...

Another liar loan subprime bites the dust. Well for all the laid off loan officers it looks like that job at Hooters is looking pretty good. Take your severance check get some new cans and start serving chicken wings.

Anonymous said...

I pary to GOD every day to remove the hate I have for Mandalay Mortgage and its founders. How do these people sleep. What they did is sad to even say they they are part of the human race. I got bate and switched off a long term job. To be let go in 51 days of my employment. They are monsters at best. Steve, his mother, his father all of them... United Pacific is no better then Mandalay. I want to sue them. They have made my life a nightmare

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