First Consolidated (Subprime Wholesale)
2007-04-02
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This one fell through the cracks, so we're back-adding it today (May 17th). There's a notice posted to the web site dated April 2nd announcing the cessation of subprime ops:
First Consolidated Mortgage is no longer closing or accepting submissions for wholesale subprime loans. However, for more information on our HFG ITIN loan programs, please contact Scott Suranyi at 877-969-3800 ext. 1820 or by email SSuranyi@fcmcw.com.
The about page gives more info on the company:
First Consolidated Mortgage Company is a privately held wholesale mortgage lender based in Dallas, TX. We began operations in 1994 servicing the state of Texas. We now lend in over 25 states with plans to extend to additional states within the year. We began as a Subprime lender, later adding Alt/A and most recently ITIN.
According to feedback we have received, not many employees are left (certainly not any subprime AEs), but we have no hard data on this.
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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.