Calusa Investments - Subprime

We have received word that Calusa Investments (calusa123.com), a nationwide subprime outfit has ceased operating. One informant described Calusa as follows:

CALUSA Investments of Herndon Virginia Had 110 LO's four months ago, they let 70 of them go recently.

They were a nationwide subprime outfit doing 55 million per month.

Their interactive web site ( www.calusa123.com) reads for the last four days:

"We apologize, but Calusa is undergoing maintenance.
Please check back at another time.
Thank you for your interest in Calusa - Home of Next Day Loans."

No answer on phones.

Indeed, no page (but that of the "maintenance" message) is accessible on Calusa's website at the time of this posting.

A separate informant told us of Calusa's closure noting:

Looks Like Calusa Investments in Herndon VA has shut it's doors. They did 770 million in volume last year and have had considerably less business this year only doing 10 million in July. Down from 100 loan officers to 25 they have decided to lay most employees off and only retain a few to close out loans for the remainder of the month.