HMS Capital, Inc. - Retail
It didn't take long for confirmation of HMS Capital's demise to reach us. "For all intents and purposes they have been out of business for a number of months. I believe they were down to just 1 or 2 loan officers and now they have closed," wrote one source familiar with the company.
Original Ailing Listing - 2008-11-03: According to one source, HMS Capital "will be closing its doors at the end of this month or next," but we strongly suspect they may already have. The web site is down (view cached), and phones aren't being answered. Repeated calls to the Westlake Village, CA headquarters over the past few business days have been met with busy signals. We tried every phone number we had for them (800-640-8959, 805-418-1500, 877-467-2274, 818-222-6075) and every one had a busy signal... no answering machines, nobody home.
HMS Capital employs 100 people according to Manta.com, and appears to have had branches in at least two other CA locations north of Hollywood including Canoga Park and Thousand Oaks. A significant player in the southern California market, HMS Capital has seen average monthly volumes range from a high of $109 million in 2004 to $57 million in 2007. One source who spoke with the company a few weeks ago reported having been told "they were doing very few loans and may have to close." Just days ago, that person was told by the same contact, "we're closing."
An FHA-Approved lender, HMS Capital offered a full range of residential mortgage loan products and was widely recognized due to "heavy radio advertising" on local talk radio stations. That advertising was at the center of a fuss when, in November of 2006, radio station KDVS-FM "inadvertently" broadcast a commercial spot over the Emergency Alert System (click here to listen). Local sources tell us the radio ads have notably ceased of late, although CBS affiliate KNX1070 still lists them as an advertiser.
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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.