Sunset Mortgage - Subprime Alt-A A

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2007-07-31

(Back-add on 2007-08-16) We have learned that Sunset Mortgage, founded in 1991 and based out of Pennsylvania, has ceased operations. Their website, sunsetmortgage.com, appears to be down. An informant noted the following about Sunset Mortgage's operations:

Last year they did 6 billion

They owned wasau and Broad street which have been shut down, they also owned sunset direct

Loan mix was 60 percent conforming 30 percent subprime and 10 percent govies

No of employees was about 2 thousand

... all senior management moved to eagle National bank and they are currently switching all braches to that platform ...

...

Officially they are still closing out there pipeline although ALL of there branches were forced to resign or join Eagle national by july 31

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Important: This company is on our list of lending operations that have "imploded" (see also ailing lenders). 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.