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Entrust Mortgage - Wholesale Alt-A
2007-07-25
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A back add (Today is 2007-08-02), Entrust Mortgage (www.entrustmtg.com) was a Wholesale Alt-A lender based out of Colorado. According to their website, they ceased funding on July 25th:
Due to current industry conditions, Entrust Mortgage, Inc. will not be funding any loans or accept any new loan submissions from mortgage brokers (third party originators) effective July 25th, 2007. If you have any questions, please feel free to leave a message in our general mailbox at 1-800-304-0326.
Regarding the size of Entrust, an informant provided the following:
Entrust handled about 16-20 million in wholesale loans each month, and had about 70 employees at the time of closure.
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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.
