Pro 30 Funding - Wholesale; Mostly Alt-A

2007-05-25

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Pro 30 Funding appears to have stopped doing business. Many readers have written in with this news. Calls to various offices at the company have confirmed this, though without any further details.

We are hearing that buybacks upwards of $130 million are the cause, which does indeed sound quite large for a company that reportedly did around $1.3-1.6 billion of business in 2006.

The web site is still up and operational, with no relevant notices.

Around May 16th, the company reportedly let go the staff of its Florida operations center.

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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.