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All Fund Mortgage - Subprime, Alt A2007-09-07 Comment on this article | Subscribe by email! stories: prnewswire.com, thenewstribune.com, thenewstribune.com Update 2007-09-25: We have learned that All Fund Mortgage has been purchased by Carlile Investments as of September 18th. Per a PR newswire article:
From what we are hearing, All Fund employees are still uncertain as to what this may mean for them going forward. Please pass on any further clarifications, corrections or additions to us. Original post: For a long time we have been trying to piece together the status of All Fund Mortgage. Previously, sources had written in to inform ML-Implode that All Fund Mortgage has been sold to CMXL. Per a press release back in April:
Though the article announcing the sale indicates that All Fund would continue to exist as a "sister corporation to CMXL", it would appear that All Fund is no longer operating. We draw this conclusion based on numerous tips we have received. Just today we received the following tip:
Another source wrote in to tell us the following:
Sources close to All Fund wrote in recent weeks that the locks had been changed on the All Fund office doors. For example, one source wrote:
We can only echo what our source's informant wrote, "I guess that is it!" Original post to Ailing/WatchWe first started hearing things about All Fund Mortgage back in late-April when an article was published citing unpaid wages and expenses:
The article goes on to note that All Fund Mortgage had emailed employees with expectations that problems would be "under control by late April or early May." It would seem things have yet to be resolved. Early June, BrokerUniverse.com posted an article on their What We're Hearing page noting the following:
"Stay tuned ..." Update: 2007-07-05An article made the news today about All Fund Loan Officers not getting paid:
Is All Fund imploded? If anyone has further data, please email us. permalink to this record | forum thread
Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity. |