Choice Capital Funding - Wholesale, Subprime, Alt A
We originally got word of troubles at Alpharetta, Georgia-based Choice Capital Funding (choicecap.com [website down])on April 16th:
Regarding the size of Choice Cap's operations, we got word that in 2006 they were closing between $15 and 20 million a month in loans. Peak loan volume was about 1,800 loans per year. Though Choice Capital was borderline to include on our list, due to both indications that they were significantly large enough in the Southeast as well as the volume of reports on their closure, we have decided to include them on our list of "imploded" companies.
We received a recent notice that their website was down and that their answering service was providing a "strange reply". Indeed, calls to 770-569-8140 returned "all circuits busy" messages and 800-338-0037 appears disconnected.
While operating, Choice Capital Funding prided itself on expediency. Per their website (as archived):
Go here for an archived version of their "About" page.
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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.