Flick Mortgage/Mortgage Simple - Wholesale Alt-A/Non-conforming
Alert 2008-01-24: - Flick's counsel recently contacted us to dispute the veracity of the below claims about nonpayment of compensation, and Jeff Flick's managerial behavior. We await an official, publishable statement from the company. Flick does not dispute any of the central information about the shutdown of the company.
The Greensboro, NC-based Flick has apparently shut down as of last week. Many readers wrote in with this news. The website of Flick Mortgage Investors at www.flickmortgage.com redirects to the MortgageSimple web site (www.mortgagesimple.com) which has just the following message posted:
A little digging into the Google cache for the site yields the following "about" snippet:
The company was run by CEO Jeff Flick, and appeared to operate in a number of SouthEast and MidWest states (CityTownInfo.com lists offices in NC, SC, IL and FL).
On July 18th, someone wrote in to us (with many others reporting similar, regarding the payroll issue):
It appears that the hoped-for buyout did not come. Perhaps some assets might still get sold to make payroll, though we cannot confirm any of the above claims at this time. We are also still lacking detail on the scope of Flick's operations (i.e., max. employees, loan volume), so if you have this or any other further info, please let us know.
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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.