Homefield Financial - Alt-A Lender (Retail and Wholesale)
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stories: unionleader.com, mobilemortgagenews.com
We have come to learn that HomeField's Retail operations have also ceased. Per an informant:
Original "imploded" listing (Wholesale):
According to their web site:
Homefield Financial, wholesale division, would like to thank all of the mortgage brokers that have submitted broker packages and/or loan application packages to it. It is with great regret that Homefield announces that the Homefield wholesale division will no longer be accepting broker applications for consideration of a broker/lender relationship, and/or loan application packages for loan approval.
They have taken down the rest of the web site, but here is a description of the company courtesy of the Google cache:
Welcome to Homefield Financial, an INC 500 Company
The page also lists as news from august last year that Homefield had just introduced a 5-year pay option ARM product (hot-dog!) and expansion into the state of Virginia.
I can't think of a better illustration of the trade-off between speed and prudent lending... and this is not even sub-prime!
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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.