Wednesday, July 18, 2007

The Mortgage Lender Implode-O-Meter reaches 100!

100 173 Major U.S. Lenders Have ‘Imploded’

From Implode-O-Meter (A popular web site that tracks failing or "imploded" lenders): “This is our list of lending operations that have ‘imploded’ (see also ailing lenders). ‘Imploded’ is 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. Important: All information here is provisional. If you are planning on doing business with any of these companies you should inquire with them on whether they can still meet your needs. Many are still operating in some capacity.

“The Companies include all types (prime, subprime, or a mix of both; retail or wholesale; subsidiaries and entire companies). The list, with links to stories and whatever details we have available (most recent first) follows:”

Number 100: CIT Home Lending

“CIT Group, a major conglomerate lending and investment shop, is exiting the home lending business entirely, after taking an ‘unexpected’ (hah!) loss of $127 million in the second quarter.” read more >>

Update: 173

1 comment:

Anonymous said...

Ah! I'm so glad this was poste| There are a mass of contradictary
information blogged about, this dispells, puts to rest
much of what I've seen.