Nations Home Lending - Alt-A Wholesale
Multiple emails and a BU thread tipped us off to this one. Nations Home Lending was Cincinnati, OH-based wholesale lender specializing in Alt-A. Sutton Bank was the parent organization, and reportedly pulled the plug on Nations because the operation could not meet the $25 million level of monthly volume (we are told Nations was down to an average of $6-9 million per month in recent months).
The company's web site (www.nationshomelend.com) is still up, and gives states of operation as all states except AR, AK, AL, HI , Washington DC, MD and MI.
Nations reportedly had about 90 employees. A reader and former employee also sent in this information on the last days at the company:
The interesting thing here is they just hired 3 new regionals and about 25 AE's in the last 60 days. I had worked for them until Sutton Bank terminated their relationship Thursday night. Many of the AE's only heard about if from the grapevine, no communication from management that it even happened, email just stopped working.
Note: We had the wrong Nations Home Lending posted here initially (yes, there is another Alt-A company with exactly the same name). As far as we know, they are fine.
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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.