Mortgage Company

Fortes Financial of Dallas, buyer of five regional wholesale divisions from National City Mortgage back in July, has ceased operations.
Fortes Financial Fails
Fortes Financial, the idea a viable mortgage company could be made from the ruins of other failed mortgage companies, came from mortgage maverick, Peter J. Levasseur. Mr. Lavasseur distinguished himself at the [...]

Amerisave Mortgage claim on their website to be “one of the nation’s leading and fastest-growing retail mortgage companies, serving customers in 50 states and DC. Amerisave currently employs over 1800 mortgage professionals and has funded over $6.5 billion.”
Our Amerisave Mortgage review goes beyond PR sound bites to inform you about the real Amerisave. We [...]

Universal American Mortgage (UAMC) is the subsidiary mortgage lending arm of Lennar Corporation (NYSE: LEN) owner of Lennar Homes, one of the nations largest home builders.
Our review is of both UAMC and of Lennar Homes seeking to inform you about both company owned by Lennar Corporation…and it is not pretty. We located three telephone [...]

Chase Manhattan Mortgage Corp., a retail and wholesale mortgage company whose parent company is the mega-bank, Chase Manhattan Bank, rose in prominence during the real estate boom as a leading mortgage lender and servicer. In early 2001, Chase Manhattan Mortgage also purchased Advanta Mortgage.
We located a Chase Mortgage website, seven telephone [...]

Taylor Bean & Whitaker Mortgage Corp. is a retail and wholesale mortgage company who through a nationwide broker network rose to national prominence as a mortgage lender and servicer. We located a website, seven telephone numbers, and more than a few past customer complaints.
Taylor Bean & Whitaker Website and Phone Contacts
Taylor Bean [...]

CitiFinancial is a subsidiary retail mortgage lender and servicer of parent Citigroup Inc. (NYSE: C) which focuses on home equity and personal lending. We located a website, 23 telephone numbers, and more than a few customer complaints.
CitiFinancial Website and Phone Contacts
CitiFinancial Website: http://CitiFinancial.com
CitiFinancial Phone:
800-995-2274
(215) 245-4733
(215) 538-9448
(215) 752-4469
(215) 856-9405
(215) 946-4499
(610) 253-5808
(610) 434-0191
(610) 437-0791
(610) [...]

Fremont Investment & Loan specialized in subprime, no doc, and other portfolio mortgage products. Fremont Investment & Loan marketed their mortgage programs through a nationwide network of independent mortgage brokers who (like many regional depositor banks at the time) were enticed by high-return wholesale mortgage lending.
Our review is only of the mortgage side [...]

Flagstar Bank is the national mega-bank owned by parent company, Flagstar Bancorp, Inc. (NYSE: FBC). We located a website, a number of customer complaints, a few lawsuits, and two Flagstar phone numbers.
Flagstar Bank Website and Phone Contacts
Flagstar Bank Website: http://flagstar.com/
Flagstar Bank Phone:
(800) 447-7181
(800) 945-7700
Fax: (888) 541-2056
Address: 5151 Corporate Drive, National Corporate Headquarters, Troy, MI [...]

LendingTree, LLC is primarily a lead generation website located at LendingTree.com. In reality most mortgage website are lead generation website, but Lending Tree was one of the first and most profitable due in part to their omnipresent TV commercials shouting the dubious message, “When Banks Compete, You Win”.
Lending Tree claims to have garnered more [...]

Quicken Loans is a national online lender which also operates as Rock Financial in southeast Michigan, and One Reverse Mortgage, based in San Diego, California. We located four websites, twelve telephone numbers, and several complaints and lawsuits.
Quicken Loans Website and Phone Contacts
Quicken Loans Websites: http://www.quickenloans.com
http://www.rockloans.com
http://www.rockfinancial.com
http://www.onereversemortgage.com
Quicken Loans Phone:
(248) 427-3300
(216) 586-8900
(248) 312-1600
(248) 451-5400
(313) 359-0170
(313) 359-2012
(734) [...]

An AIG bankruptcy maybe next given their liquidity crisis caused by losses in their derivatives which require an influx of capital to cover. AIG’s credit rating was downgraded yesterday which combined with a widening credit crisis makes bankruptcy more likely.
AIG Bankrupt: Mortgage Crisis and Credit Rating to Blame
Another financial giant, American International Group or [...]

Downey Savings and Loan, a subsidiary thrift, retail mortgage seller, and wholesale mortgage lender of Downey Financial Corp., has assets of $13.4 billion, and 169 branches throughout California and Arizona. We located a website, six telephone numbers, and a slew of complaints and lawsuits.
Downey Savings and Loan Website and Phone Contacts
Downey Savings and [...]

NVR Mortgage, a subsidiary mortgage division of NVR Inc., who also owns home builder, Ryan Homes, has a bad enough record of customer complaints to mark off my list of usable companies. We located two websites, 15 telephone numbers, and a slew of client complaints.
NVR Mortgage Website and Phone Contacts
NVR Mortgage [...]

ABN AMRO had a mortgage division which in the US was owned by LaSalle Bank Corp. who’s assets were then bought by Bank of America in October of 2007. It’s unclear if the mortgage division (called ABN-AMRO Mortgage Group, Inc.) was part of the sale. We located a website, three phone numbers, and [...]

Accredited Home Lenders Holding Co. (NASDAQ: LEND) is the mortgage banker which owns the subsidiary Accredited Mortgage Loan REIT Trust (NYSE: AHH.PrA) to raise capital to buy the formers subprime mortgage originations under the name Accredited Home Lenders.
The company has jumped in and out of subprime retail and wholesale, but is now [...]

Residential Capital, LLC (ResCap) the home lending subsidiary of GMAC Financial Services announced today the closing of all GMAC Mortgage retail offices and their Homecomings wholesale mortgage arm. ResCap will cut 5,000 jobs or 60 percent of the mortgage workforce.
GMAC ResCap Fell Far
Reuters reports,
“ResCap was the seventh-largest U.S. mortgage lender from January to June, making [...]

Impac Mortgage Holdings Inc (NYSE: IMH) is a mortgage REIT which used to be a big buyer of Alt-A mortgage loans. They also used the name Impac Lending Group. IMH now longer buys new loans, but they do service their old loans. We located a website, a phone number, and some complaints [...]

Bank of America Mortgage is the mortgage division of the national mega-bank owned by parent company, Bank of America Corporation (NYSE: BAC). We located a website, a number of customer complaints, and a phone number.
I my opinion any company making claims of “no cost” or “no fee” mortgages is suspect. Bank of America [...]

Wachovia Mortgage Corp is a division of the Parent Company, Wachovia Corp headquartered in Charlotte North Carolina. Wachovia Corp became the fourth largest US banking operation when it merged with First Union in 2001.
Wachovia Mortgage Corp
We, years ago, had a broker relationship with Wachovia Mortgage as we had followed a very bright account executive [...]

Washington Mutual Mortgage is the mortgage division of parent company, Washington Mutual Inc, (NYSE:WM). We located a website, a number of customer complaints, and two WaMu Mortgage phone numbers.
Washington Mutual Mortgage Website and Phone Contacts
Washington Mutual Mortgage Website: http:// www.wamuloans.com/
Washington Mutual Mortgage Phone:
(512) 322-5283
(512) 345-0066
Address: 9333 Research Blvd B-200, Austin, TX 78759
Washington Mutual [...]

Paul Tharp writes in the New York Post yesterday on the plight of Countrywide Home Loan stock price taking a beating while the CEO, Mr. Angelo Mozilo, cashes in stock options worth more than $118 million! Anytime the executives start cashing out, you know there’s trouble.
As the nations largest mortgage provider (I [...]

Ditech Mortgage owned by GMAC Mortgage, is famous for their schlocky TV ads with a fat loan officer who always loses clients (even his own mother in one) saying, “Lost another loan to Ditech”.
These same ads pummel the viewer with the misleading, but very enticing $395 Flat Fee idea.
Ditech Mortgage recently canned that ad [...]

Wells Fargo Mortgage is a subsidiary of a Federally chartered depositor bank which merged with Norwest Bank in 1998 an has become the second largest mortgage originator.
Wells Fargo Mortgage is part of the $40 Billion mega-bank that once again has been a darling of stock brokers and mutual fund managers for over two decades. [...]

Angelo Mozilo, chief executive of Countrywide Financial, was called to give testimony as to the legitimacy of his stock sales and other CEO compensation shenanigans before the Committee on Oversight and Government Reform.
Mr. Mozilo’s statement is more rhetoric and excuses including everything from the woes of the subprime meltdown to an “unforeseen” housing market crash, [...]

Mortgage brokers heard rare support from the nation’s top banking regulator, John M. Reich at the National Association of Mortgage Brokers Legislative & Regulatory Conference in Washington, D.C..
Some of the nice things said by Mr. Reich about mortgage brokers were:
“First, I want to say I believe that mortgage brokers have made significant contributions to [...]

Lenox Financial Mortgage is known for their ever-present radio campaigns touting “no cost” refinancing and is the prime example of what I call “deceptive or incomplete” advertising.
Refer to my article, “No Closing Cost Mortgage Advertising Is a Lie” to see how Lenox Financial and others pull the wool over the eyes of [...]

Mortgage stock prices are dropping like a stone creating a huge profit opportunity. I wrote a post 10 months ago on my ActiveRain blog showing folks how to “short” mortgage stocks to bank these profits.

Since then a most mortgage stock prices have literally freefallen. Right after that post, Novastar’s stock (symbol: NFI) dropped 40% [...]

Countrywide Loans are the biggest mortgage lender and yet they are under serious scrutiny. Countrywide Loans are rumored to be under investigation on stock sales and on the verge of collapse.
Countrywide Loans are owned by parent company Countrywide Financial Corporation, a NYSE traded company under the symbol CFC. The mortgage division consisting [...]

ELoan Mortgage bailed out on the subprime market about a year ago. Back then ELoan Mortgage was the first of many lenders to turn their backs on the subprime borrower.
As I predicted a few posts back, the bruised credit borrower would be left out in the cold the minute the big boys figured [...]