Express Capital Lending - Wholesale Alt-A
2007-08-13
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Around 4pm today informants began sending in an email sent out by Express Capital Lending (expresscap.com) informing that Express Capital had ceased accepting submissions "until further notice":
Dear Valued Broker,
Due to current volatility in the mortgage market, we are not accepting new submissions until further notice. Once circumstance improve, we will notify our brokers of new programs and guidelines. We appreciate your patience, and look forward to doing business with you again soon. Thank you.
- Express Capital Lending
Estimates put Express Capital Lending's workforce between 25 - 50 employees. Others have estimated their monthly loan volume at around $25 million.
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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.