Lehman/Aurora Loan Services - Wholesale & Correspondent
Wholesale and Correspondent divisions of industry giant Lehman Brothers / Aurora Loan Services have been eliminated effective today January 17th with last day to fund loans February 17th, 2008. This information was delivered to AE's and staff in a 12 noon (EST) conference call. We are expecting an official announcement later today (see update below).From CNNmoney today:
In an email to an AE's Broker:
In a mid-day announcement from their web site, this may be as official a statement as anyone would need:
MSNBC is reporting 1300 jobs will be lost. We have seen in the past Lenders not counting outside Acccount Executives, so we will be looking for numbers we can confirm.
This page will be updated throughout the day. We are working on the layoff and volume figures.
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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.