Mortgage Store Financial - Alt-A
2007-08-28
We have received information indicating that the Mortgage Store Financial (themortgagestore.net)may have ceased lending. Per one informant on August 24th:
Check out The Mortgage Store Financial Inc. ( 800-490-2274). This Los Angeles based Alt-A lender was doing over $100 million per month in Alt A wholesale but they have taken their web page down and have not been accepting new applications since last Thursday. An employee told us they are going out of business. It's a public company, but is mainly privately held.
And today, a separate source notes:
Los Angeles, Ca
TMFZ
400+ employees, now 28 remain for servicing ...
No longer [accepting] loans ...
1 billion + in originations last year
https://www.themortgagestore.net/Rates/rates.pdf
last rate sheet posted 08/16/2007
We were able to confirm the rate sheet has not been updated since August 16th.
Important: This company is on our list of lending operations that are apparently ailing or which we think are worth watching for any other reason. We make no representation or claim that any company on this list will or will not continue as a going concern, or change in any other way, adverse or beneficial. If you have concerns about this company, we suggest contacting them directly and/or checking with other reliable sources.