Liberty American Mortgage - Wholesale & Retail
Update - 11-14-07: Our previous discussions with Liberty American indicated they would continue Retail operations. Based upon recent emails, this appears not to be true.
"Liberty American Mortgage in Roseville CA has closed its doors...."
And finally, from one very informed individual:
We are told that the final count after several layoffs is about 30 employees effected by the closure.
Update - 11/12/07: We received the following email today:
"Per conversations with the staff: this company is no longer in business as of Friday, November 9, 2007."
Original Post - 11/01/07:
Liberty American Mortgage Corporation, Roseville CA is out of the Wholesale Lending business. Per their web site they were licensed in 14 primarily western states.
We spoke to them on the telephone and they want to make it very clear they are moving all reps and employees to retail. Wholesale is expected to be finished on November 5, 2007.
In a letter from the President:
HUD reports loan volume of $2,526,872,000 for 2005.
Should any news develop regarding Liberty American, please let us know.
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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.