Chevy Chase Bank Correspondent - Wholesale

2007-08-20

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Many have written in to inform us that Chevy Chase Bank Correspondent (Wholesale) has ceased accepting correspondent loans. Per an announcement we received:

Important Announcement: Effective Immediately
August 20, 2007
Chevy Chase Bank Correspondent,
Due to recent market volatility, Chevy Chase Bank will no longer purchase
Correspondent loans.

We have yet to determine how much monthly loan volume CCB Correspondent was handling or how many employees this will affect. Stay tuned!

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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.