Soma Financial - Wholesale & Retail
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We Imploded Soma Financial of Henderson NV in July 2007, and now we've heard from a source they are relinquishing their Licenses. The wholesale web site is gone (www.somawholesale.com) and as of this writing, the Retail site is still up but no one answers the phones. The FAX line is not working.
According to the Mortgage Lending Division, State of Nevada, Soma had a Broker License which they failed to renew in June of 2007, and their Banker License expired a few days ago on Dec. 31, 2007.
At this time we have been unable to determine how many employees were affected by the closure of Soma Financial. If you can provide this information to complete this listing, please let us know!
Previous Implode - 2007-07-17: (This entry is a retroactive addition, on July 28th, 2007). An old report on Soma's shutdown has been corroborated by a contact of ours who spoke with a former Soma employee. Soma was based out of Las Vegas and reportedly did about $800-900 million in volume as of 2005.
From the company's web site on the "About" page:
"In 1999, Soma Financial, a Las Vegas based Mortgage company, was founded with one thing in mind - Service. Now with over 700 Mortgage Originators, 80 support staff and 40 locations across 30 states, we are one of the largest independent mortgage lenders based in Nevada."
Wasn't "soma" the reality-escaping drug in "Brave New World?" From Wikipedia: " a powerful drug taken to escape pain and bad memories through hallucinatory fantasies."
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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.