Horizon Bank Wholesale Lending Group - Wholesale Lender


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We received the following from a scanned letter on Horizon Bank stationary as supplied by an MLIOM reader:

May 31, 2007

To Whom it May Concern,

Due to the current market conditions in our industry, Horizon Bank's Wholesale Lending Group is ceasing the origination of third-party loan origination's effective immediately. We will no longer be accepting any new third-party applications on any new loans. All currently approved loans within the pipeline will need to close by Friday, June 15th.

We have appreciated the opportunity to serve you and your customers. Thank you for your business.

Horizon Bank's Wholesale Lending Group

Horizon Bank's website is, which is not to be confused with, a separate banking institution. Horizon Bank is a publicly traded company that provides various banking products and services of which wholesale lending was but one.

Horizon Bank may have only recently entered the wholesale lending business as their latest 10-Q alludes to increases in year-over-year expenses being due to "the addition of a new product line known as wholesale mortgage lending and its related staff additions". Per the wholesale lending section of their website, Horizon Bank's Wholesale Lending Group offered 1st and 2nd mortgages as well as 1st and 2nd lien lines of credit.

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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.