LownHome Financial - Wholesale Alt-A

Many have written in to notify us that LownHome Financial (lownhome.com - page says "Under Construction" - wink!) has closed their doors. Below are a few of the notifications we have received.

One reader writes to us:

LOWNHOME website down. An ex AE just told me they are closed

Another source writes:

Another one bites the dust. Here is email I received from my AE.

Good morning to all:

I regret to say that LownHome Financial is no longer in business. I appreciate all that you have done to support me. I will be calling on you when I land. Thanks again and I appreciate your loyalty.

...

Regarding the size and scale of LownHome's operations, one reader writes:

[LownHome was] only in business since May of 2006 and were started by the former CEO of First Franklin, Marc Geredes, along with several other former First Franklin execs who left that company just over 3 years ago with a plan to start a new sub-prime company.

...

I would guess at least 100 employees were affected in the 3 Regional Operations Centers and corporate, and a fair number were laid off previously in corporate. ...