Zone Funding - Subprime/Alt-A Wholesale
Comment on this article | Subscribe by email!
Note: Zone's site is back up and reports they are still offering the hard money, D-Zone product. Pending confirmation that the company is stable, this entry may be removed.
I don't know what the ultimate, official fate of this company will be, but as per their home page, they are ceasing acceptance of new loans:
Zone Funding has announced today that new loan submissions will not be accepted at this time due to market turbulence. Zone Funding will continue to process loans already submitted. If you have any questions regarding loans in process, please contact Vicky Hernandez at (805)244-9522 or Jamie Monostori at (805)244-9523. Zone Funding will be evaluating the current environment and will be making an announcement shortly.
The web site is otherwise totally shut down; other pages are inaccessible. Here is some info off the old "about" page, from the Google cache:
Seems like an environment where house values are falling could wipe out the equity of these "D-Zone" borrowers and largely nuke the program. Luckily, house values never fall!
permalink to this record | forum thread
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
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.