DomesticBank (Wholesale Lending Division) - Non-traditional Lender

2007-03-02

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This RI-based lender has ceased wholesale lending activities, allegedly temporarily. This notice was posted on their web site:

Due to the current extreme market turmoil, we have temporarily suspended acceptance of loan applications in our wholesale lending division. Authorized personnel can log in below. We apologize for the inconvenience.

I don't have any details on the size and nature of this operation yet (i.e., how much Alt-A vs. subprime vs. stated), but it looks like the typical mid-sized multi-state wholesale lender.

Hat tip, Bakersfield Bubble.

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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.