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Nation One Mortgage - Alt-A Wholesale Lender
2007-05-02
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This company has definitively stopped lending; we have seen multiple reports of this and have obtained the following letter sent out to brokers:
Dear Broker;
Effective immediately, Nation One Mortgage Company, Inc. is ceasing the origination of all mortgage loans. No new loan submissions are being accepted at this time. If you have received this message, our records indicate that you do not have any loans that are currently in an approved and locked status.
We have appreciated the opportunity to serve you and your customers.
Nation One Mortgage Company, Inc.
If you call their number at 1-800-624-6662, it confirms the above.
Their web site is still up and you can read a bit about the company here.
We have no specifics on the size of the company, but they appear to be a mid-sized East-coast lender, working in VT, VA, MD, MA, CT, NH, FL, RI, and ME (check the list of AEs). No word on what their future plans will be.
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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.
