Lender Bankruptcies Suggest Deeper Trouble
On Monday, Mortgage Lenders Network filed for Chapter 11 protection, the latest in a slew of subprime home-loan providers to capitulate in the face of myriad pressures.
In December, Ownit Mortgage Solutions and Sebring Capital Partners both filed for Chapter 11, heralding a wave of bankruptcies in this industry, which insiders fear will continue.
“We will definitely see more...
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