2008-07-10 — ml-implode.com
"The message below was just sent to approved mortgage brokers this evening. This is effective immediately. I believe that Downey was the last remaining Pay Option lender after Wachovia abruptly shut down the program a couple of weeks back. Unlike IndyMac, Downey is going to grin and bare it and fund all of this toxic garbage through 8/29. This is great news for the consumer and broker who have loans in process. Kudos to Downey for that."
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