Industry News

Subprime lenders hit Wall Street funding wall

MLN stops funding loans; Ownit Mortgage in bankruptcy
Published on Jan 3, 2007

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by CareyBot

Mortgage Lenders Network USA Inc. has stopped funding loans and placed about 80 percent of the employees in its wholesale lending operation on furlough, but will continue to service its $17.8 billion loan portfolio, the company said in response to ...