Right-Away Mortgage - Wholesale, Subprime
2007-06-07
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We received word on May 24th that Right-Away Mortgage had closed their doors. Apparently, an email (PDF) was sent out to numerous recipients:
Subject: Bummer, BUT ...
...I will be back at a better company soon and I have done my research. The new companies I am looking at have been around a long time and are not going anywhere.
That was the foreshadow.
The news :
Right Away Mortgage is no longer, unfortunately. They have shut their doors as of today. I appreciate working with most of you and talking and pre-qualing with the rest. I will be back and am taking this closing as a new step forward and more opportunities.
...
Darren Anderson
Right-Away Mortgage
From the Right-away website, it appears they were licensed in 18 states. If you have any further information that might further illustrate the size of Right-Away's operations (Monthly/annual revenues, etc.), please let us know.
Update 2007.06.27
We received the following additional information about Right-Away Mortgage today:
Right-Away Mortgage [was previously] Chadwick Mortgage
[Right-Away Mortgage was] a small sub prime shop funding around 10 to 15 million per month in Huntington Beach California.
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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.