Home Loan Specialists (HLS) - Wholesale Subprime, Alt-A

Home Loan Specialists out of Laguna Hills, California (hlsdirect.com) has announced that they have been "forced to close [their] doors" according to the following announcement on their website:

Due to continued market volatility, we are saddened to inform you that Home Loan Specialists, Inc. is forced to close its doors after 10 years in business. We have sincerely enjoyed working with all of our great broker clients.

Effective immediately we will no longer accept loan submissions. All loans in the pipeline must fund by August 31, 2007. We will make every effort to minimize this disruption.

We wish everybody the very best,

The Team at Home Loan Specialists, Inc.

A similar email had been sent out yesterday; though it did not appear publicly until today. We are working to complete this listing with peak monthly loan volume and number of employees affected. If you have any of this data, please email us. Note: we have learned there are two other, entirely separate Home Loan Specialists, one based out of Michigan and the other out of San Diego, California. These two lenders are not connected with the Home Loan Specialists based out of Laguna Beach, California.