No Fire Sale in Rumson?

A number of folks have emailed and posted that Ara Hovnanian has listed his Rumson, NJ home for sale. Ironically, the home was listed on the same weekend his company held the “Deal of the Century” sale to reduce inventory and move homes.

MLS# 20738770 – Rumson, NJ

Unfortunately, Mr. Hovnanian isn’t so generous with his own home, the listing price of $7.2 million is still significantly higher than the $6.75 million he paid in 2005.

Mr. Hovnanian, are you really sure we’re “very near” the bottom in housing? Or is there something else we should know?

Information and photos will be posted as soon as I can dig up additional details.

Caveat Emptor.

This entry was posted in Housing Bubble, New Jersey Real Estate. Bookmark the permalink.

38 Responses to No Fire Sale in Rumson?

  1. Eagle says:

    for anyone with MLS access–

    Could you please provide me with address, sale and listing history, etc. on following five properties:

    Glen Rock – MLS – 2723384, listed for 1.049 million.

    Ridgewood – MLS – 2719213, listed for 1.195 mill.

    Upper Saddle River – MLS – 2639161, listed for 899

    Ho-Ho-Kus – MLS – 2708912, listed for 649

    Ho-Ho-Kus- MLS -2709416, listed for 1.8 mill

    I greatly appreciate this favor (as always).


  2. chicagofinance says:

    I was over on kannekt after ignoring it for about a month………I found this gem that makes me sound like a martyring jihadist….

    CF posts on njrereport every other day. You can go speak to him there. Just a warning, however: he has become more radicalized and is predicting even more gloom and doom for real estate

  3. mr potter says:

    KHOV knows that whatever he can get for his fancy Rumson pad right now will be more than he will get next year or the year after. What a dishonest clown…..

  4. njrebear says:

    congrats cf :)

  5. the other doyle says:

    We just closed on a home in North Cape May two days ago–so we won’t be bidding on Mr. Hovnanian’s place.

    Yep, we know prices are plummeting.
    Nope, not an investment.

    And now I owe JB a beer.

  6. James Bednar says:

    I’m sure the specu-media will have a field day with this. Here are my suggestions for spin:

    1) Hovnanian will be stepping down, or selling the company, thus won’t be needing the home in Rumson.

    Ara mentions that his primary residence is NYC, not Rumson.

    The Closing: Ara Hovnanian

    Where do you live?

    I live on the Upper East Side, and I have a home in Rumson, N.J.

    or perhaps:

    2) Hovnanian is moving the headquarters out of Rumson, thus doesn’t need the home.



  7. Rentingin NJ says:


    3) His Option-ARM is resetting and he can’t afford the new payment!

  8. Rentingin NJ says:

    The 2006 property tax bill was $46,108

  9. Rentingin NJ says:

    According to

    They also own 445 LOCUST POINT RD in Middletown, NJ

  10. James Bednar says:

    Looking at the mortgage now, from what I can tell the mortgage was for $6.75 million, the full purchase price.

    Ara used a 100% down loan?


  11. BC Bob says:

    JB [6],

    I was living in Red Bank when they broke ground on that bldg. It’s on W Front St, Red Bank. That was my final cue.

  12. Orion says:

    Please remove post #12.


  13. mr potter says:

    Did he really leverage the entire deal ? Wouldn’t that be ironic.

  14. James Bednar says:

    You can pull the documents if you’d like:


  15. Frank says:

    Is Ara the idiot that does reverse commuting from Upper East side to RedBank??

  16. HEHEHE says:

    Interesting timing of BAC’s warning here, night before a cut:

  17. Stu says:

    This was in an email I received from a stock picker that I generally move to my spam box. It’s a great ‘doom and gloom’ read though…

    How ridiculous is this? How insane is it that we, a supposedly free people, are subject to one man, Ben Bernanke?

    How did that happen?

    And, no, I’m not going let this go. Today, you got your fill of “debate” and “questions” and “theories” about:

    A) Will ‘the fed’ lower rates?
    B) If so, how much?
    C) And, what will ‘the fed’ say about the economy?
    D) What if they only lower 1/4 point?
    E) What if they lower 1/2 a point or more?
    F) Is this the start of many more rate cuts?


    And, all these “bulls” begging for ben bernanke to lower interest rates to “save” the market. It’s always funny to listen to the “capitalists” of the world say how a “free market economy” is the “best path to prosperity”, but only if the “free market” includes a bailout from “the fed”.

    The level of “2 plus 2 equals 5” thinking right now makes me think that maybe this is all a bad dream. Check out what Larry Kudlow said on his sitcom today:

    “Don’t you think a ‘free market’, resilient, durable economy, and global financial systems can absorb this?” (The question was in reply to a guest describing that regardless of how much ‘the fed’ cuts rates the markets may move up UNTIL the the next ‘financial crisis’.)

    FREE MARKET? RESILIENT? DURABLE? Yeah, right. This is the same “free market”, resilient, and durable economy that Larry says needs a 1/2 point rate cut to the “federal funds target rate” and ANOTHER 3/4 point cut to the “discount rate”.


    Now, I’m no PHD. I dropped out of economics 101 in my brief college stint. And, heck, I’ve never even read one of Jim Cramer’s books.

    I know, however, that a “free market” does not include an entire economy guessing, debating, hoping, and rolling the dice on whether one man, ben bernanke, decides it’s time to make it easier for the last few people not already in debt up to their eyeballs, to mortgage their grandkids’ future to buy more plastic junk from China.

    No matter how many times you hear a “bull” call for a rate cut, and, extoll the virtues of our “free market”, it is still a load of HONKY DONKY.

    One big, smelly, messy, pile of HONKY DONKY.

    The part that angers me is that there is not a SINGLE counterpoint to these whores. Not one person on CNBC today even raise the question about whether or not it’s in our best interest to allow one man, ben bernanke, to hold sway over our entire economy.

    Again, I’m not Milton Friedman, or Adam Smith, but I gotta believe it’s probably an okay question to ask, right? I mean, there is SOMEONE out there who still believes it’s okay to ask questions, right?

    Maybe not. I think that the vast ocean of “investors” are oatmeal-loving, swill-swallowing, Cramerites. The doe-like timidity of the average “investor” leaves them in a perpetual state of “buy and hold” because it’s just easier that way. You know, the way wall street says to do it.
    You think I’m harsh, maybe? If so, that’s because you are one of the sheep. To you, I say, “Boo Yah!” (Note, I said “IF SO”. Please don’t email me to complain that I called YOU a “sheep”. But, if you do send me an email complaining that I called you a sheep, then, yes, you are a sheep.)
    Speaking of HONKY DONKY, how about ol’ Alan Greenspan? What, was today “Alan Greenspan Day”? What a coincidence! CNBC’s hype machine about tomorrow’s fed meeting just so happens to be in full swing as 60 Minutes airs their interview with “Mr.” Greenspan. And, just so happens to coincide with the release of “Mr.” Greenspan’s new book. And, just happens to coincide with CNBC’s own “look” at the “historic” fed chairman in the hour-long special tonight, “Power. Money. The American Dream.”


    That MONKEY TATER rooked an entire generation of Americans out of THEIR dreams. The way Alan Greenspan’s ‘fed’ jacked up the stock market into “the bubble” of 2000, dropped the market and evaporated trillions of dollars in ‘wealth’, only to then jam interest rates down to 1% to pump people into a crooked mortgage banking system (and by people, I mean, “anyone with a face, and regardless of credit history, employment record, or citizinship”), ought have gotten his FLOPPY BOTTOM thrown in jail.

    Now, we are all going to pay – one way or another – for Alan Greenspan’s “American Dream”. Except that “dream” is the nightmare of foreclosures, our dollar falling like a rock, and an economy on the precipice as our foreign creditors slowly back away from the teller window at the drive-in bank.

    Note: Alan Greenspan is married to NBC’s very own “reporter”, Andrea Mitchell. So, that “may” have something to do with the love affair CNBC has with “Mr.” Greenspan.

    By the way, you might have missed the little story about the banks in England and Ireland. Yeah, guess what, one of their banks had a good old fashioned RUN. The culprit? SUBPRIME MORTGAGES. The very same “subprime” that was A) not supposed to be a big deal, B) certainly not going to be a GLOBAL problem, and C) easily contained with a few injections of “liquidity”.
    Here’s a link you should read:

    Pay close attention to that picture of people standing in line to get their money out. That’s coming to a bank near you in the US.

    You want to know what’s going to happen tomorrow? Well, “the bulls” say the market will scream skyward. I’ve heard nothing to the contrary. So, I’ll go with that “thesis”.

    What will the market do tomorrow? I don’t know. Maybe it rockets up. Maybe it rockets down. I’m not psychic, so I can’t tell you what happens tomorrow.

    The longer-term outlook, though, if “the fed” starts cutting rates is DOWNTOWN, CHARLIE BROWN. Mabye that move starts tomorrow. Maybe next week.

    But, start, it will, young Jedi.

    I plan to fade whatever move we get TOMORROW. If ‘the fed’ cuts rates and the market zooms up, I’ll be shorting like a madman. If market zooms down, I’ll go long. These moves will be for intraday trades.

    Hey, maybe none of this means anything to you. I don’t know. I’ll keep on believing that we NEED a FREE market, we NEED some people with integrity in the media to keep our elected (and, in the case of “the fed”, UNELECTED) officials in check, and we need the market to drop before I’ll get all bullish and stuff.

    I know. I know. Why must I be so “negative”? If you think I’m “negative”, you must not remember that I told you these things were coming. Now, that the fun has started, I am not “negative”, I am HOPEFUL that some of you will take SOME SORT OF MEASURES to protect your assets.

    Good luck tomorrow. Hope to see you in my chat room. I’ll be in my live trading room helping people make money no matter WHAT ‘the fed’ does…

    …or doesn’t do.

    Don Harrold

  18. dreamtheaterr says:

    Bottom calling will make Ara lose credibility that he is an adult running a company. Better to keep quiet than run the risk of needing Size 34 diapers.

  19. BklynHawk says:

    Mr. Harrold-
    Thanks for you opinion. Very interesting.

  20. James Bednar says:

    Purchase: $6.75m
    Asking Price: $7.20m
    Est. Commission: $360k

    Potential profit: $90,000

    I can’t believe that Ara didn’t at least do some work to that place. I found a permit to tear down the existing structure filed after the purchase, but I’m not sure if it ever happened.

    Maybe this is a “fire sale” price after all.


  21. mr potter says:

    I am sure Ara’s Net Worth has taken a severe hit since 2005 when he bought the place. Can’t imagine he is personally strapped for cash but who knows. Strange behavior nonetheless.

  22. njpatient says:

    Apparently there’s no truth to the rumor that Ara’s waiting for oil to hit $100 before he sells his hair.

  23. Rentingin NJ says:

    Ara used a 100% down loan?


    I checked out the County Clerk link you posted…

    If I’m not mistaken, it looks like Ara did a cash-out refi of the 445 Locust St. property.

    In August 2007, he took out a $6 million adjustable rate interest only mortgage and paid-off a $5 million mortgage.

  24. Bloodbath in Winter 2007 says:

    Eagle, if you’re just looking, that’s cool, but i’d be curious whether or not you’re putting down 10/20% and what’s the rate on that jumbo.

    right now, based on rough calcuations, on a home that’s $1 million, if you put 10% down, that’s 100k down (do-able), perfect credit, and a jumbo loan at 7% (benefit of the doubt) to finance the remaining 900,000 … you’re looking at a mortgage in the 4800-6000k range.

    Hope you’ve got family money or a 5-year contract with your 300k a year job …

  25. John says:

    Just curious, why would anyone buy a home right now? Plus why jump in on a beach town after beach season? If it is just a summer house what is the rush as May is a long way away and if it is a full time house people who rent in the summer usually give a winter rental at a rock bottom price just to cover the nut and you could live there all winter in the cheap rental while you bottom fish.

    the other doyle Says:
    September 17th, 2007 at 6:58 pm
    We just closed on a home in North Cape May two days ago–so we won’t be bidding on Mr. Hovnanian’s place.

  26. John says:

    On one million loan you should put down 600K and get a confirming non jumbo 400K loan.

  27. John says:

    Shilling’s latest: As “lethal subprime ARMs reset … highly excessive inventories will devastate housing prices” by at least 25%, assuring a “massive consumer retrenchment and a major recession that would spread globally. Decelerating consumer spending suggests a downturn by year’s end.”

    I hope you lock in some 5.5% investment grade or 5.1 cds before 2pm. Cause if this is true, cash is king, however Big Ben will be forced to cut rates several times and cash is not king in a 2% taxable money market with 3% inflation.

  28. John says:

    CLICK TO ENLARGESeptember 18, 2007 — Alan Greenspan’s critics are crying foul over the former Federal Reserve chairman’s new spin on why the economy is hitting the skids.

    In numerous interviews promoting his book “The Age of Turbulence” – for which he received an $8 million advance – Greenspan claims the White House’s spending binge is largely to blame for the current credit crunch.

    But some analysts and portfolio chiefs say Greenspan was the problem from the start. In fact, many market observers loudly predicted the coming mess four years ago, mostly to deaf ears.

    “Greenspan’s now warning about double-digit inflation, but it’s because of what he did that we’re even having the inflation problem,” said Peter Schiff, CEO of Euro-Pacific Capital Partners.

    “Greenspan says, ‘You don’t know a bubble until it pops.’ But he created the stock market bubble and the housing bubble and set up the commodities bubble – all because of the cheap money he threw around for so long,” Schiff added.

    Schiff’s new book, “Crashproof: How to Profit in the Coming Economic Collapse,” dubs Greenspan’s over 18-year reign at the Fed as the “most inflationary and irresponsible in American history.”

    “Greenspan kept rates too low for too long, and there’s no reversing the damage anytime soon,” said Schiff, whose fund showed a return of 400 percent over the past two years by investing against Greenspan’s moves.

    “We’re on our way to a train wreck,” Schiff warned in an interview with The Post two years ago. “We’ve been living in this fantasy bubble for too long.”

    Meanwhile, Wall Street is awaiting word from Fed Chairman Ben Bernanke, who inherited Greenspan’s cheap money mess, on whether the Fed will cut rates today.

    While investors have factored in the rate moves, earnings reports due this week from five of Wall Street’s biggest banks are another matter. Investors are hoping profits won’t be hit as hard as some analysts expect.

    Lehman Brothers reports today, with Morgan Stanley tomorrow, followed by Goldman Sachs and Bear Stearns on Thursday, and Merrill Lynch on Friday.

  29. Will V. says:

    Just to let some people know the scoop here, I was in the Hackettstown khov site looking at the sale there and they were offering the homes for the same price as what was on sale 6 months back but the catch was free upgrades. Granted upgrades can go to 30 to 40k but from what I heard from a friend that bought a home there 4 months back is that he got the same deal. Now I ask, was this really a three day deal or a marketing ploy to get people out to look. Not much a deal of the century when it was given 4 months back with the same deal. I don’t think they want to upset current homeowners in that area either.

  30. Eagle says:

    Bloodbath, to answer your question (not that it’s necessarily your business, but this is an anonymous blog and I support the general educational purposes herein, and it would be interesting to encourage others to have similar disclosure), no family money, unfortunately——more in the pretty high income category, and in the next year or so, may have a dramatic bump-up in both amount and security of income. But based on what some people discuss here, although my income (and certainly our family’s combined income)is a little above the number you suggested, we are by far not the highest income on this blog, assuming people are being genuine.

    Regarding houses under review, we are sort of in the “just looking, plus” category, where we could pull the trigger if we saw great opportunity, but likely waiting at least another year. At this point, we are sort of looking at the higher end of our possible affordability (and even a little beyond), in the thought/hope that markets will continue to soften and these same houses will be more within our reach in the not-too-distant future. Also, we tend to focus on houses that we have seen for a while on the market, so there is already probably some softness in price. We also have certain other abilities to “encourage” softness in prices, but that is a discussion for another day.

  31. John says:

    Mr. Eagle, how do you do this “We also have certain other abilities to “encourage” softness in prices, but that is a discussion for another day.”

    Funny story, my sister sold her house to some shady re investor guy from Astoria Queens, who bought my sisters house and had plans to gut out the Kitchen downstairs anyhow. The day before closing while my sister and husband was at work and kids are at school he comes to my sisters house with a ladder climbs on the roof above the kitchen with my sisters garden hose and shoves it in the oven vent pipe and puts the ladder in the car and preceeds to turn the water on.

    Idiot did not know that my sisters 90 yo neighbor saw the shady greek guy pull up and called 911 and by the time he was backing out of driveway he got caught by the cops. Turns out he was purposely going to wreck the kitchen the day before closing cause my sister already moved and had two mortgages and figured she would cut the price big time at closing the next day to make up for the damage. Turns out my sister agreed not to press charges if he closed the next day at full price and mr. shady paid full price for a house with a very wet kitchen!!!

  32. Rich In NNJ says:

    Glen Rock – 2723384
    ACT 820 HARRISTOWN RD $1,350,000 9/30/2005
    W-C 820 HARRISTOWN RD $1,350,000 4/1/2006
    ACT 820 HARRISTOWN RD $1,295,000 4/1/2006
    W-U 820 HARRISTOWN RD $1,295,000 5/11/2006
    ACT 820 HARRISTOWN RD $1,245,000 5/11/2006
    PCH 820 HARRISTOWN RD $1,199,000 6/19/2006
    W-T 820 HARRISTOWN RD $1,199,000 11/18/2006
    ACT 820 HARRISTOWN RD $1,149,000 6/8/2007
    W-T 820 HARRISTOWN RD $1,149,000 6/25/2007
    BOM 820 HARRISTOWN RD $1,149,000 6/29/2007
    PCH 820 HARRISTOWN RD $1,049,999 9/10/2007
    Listed 4 times with same agent and broker
    Currently rented out at $4,100/month as of 11/17/2006

    Ho-Ho-Kus – 2708912
    ACT 11 STONE RIDGE LN $745,000 1/14/2007
    W-U 11 STONE RIDGE LN $745,000 3/7/2007
    ACT 11 STONE RIDGE LN $724,000 3/7/2007
    PCH 11 STONE RIDGE LN $719,000 3/7/2007
    PCH 11 STONE RIDGE LN $699,000 5/24/2007
    EXT 11 STONE RIDGE LN $699,000 7/23/2007
    PCH 11 STONE RIDGE LN $649,000 9/4/2007
    EXT 11 STONE RIDGE LN $649,000 9/4/2007
    Re-listed once
    Tax info: Deed $457,500 1/26/2001

    Ho-Ho-Kus – 2709416
    ACT 35 DEERHILL DR $2,498,800 5/27/2005
    PCH 35 DEERHILL DR $2,198,800 12/6/2005
    PCH 35 DEERHILL DR $1,999,800 4/12/2006
    EXT 35 DEERHILL DR $1,999,800 5/13/2006
    EXT 35 DEERHILL DR $1,999,800 8/29/2006
    W-U 35 DEERHILL DR $1,999,800 3/11/2007
    ACT 35 DEERHILL DR $1,800,000 3/11/2007
    EXT 35 DEERHILL DR $1,800,000 7/9/2007
    Re-listed once

    Ridgewood – 2719213
    ACT 836 MORNINGSIDE RD $1,295,000 5/14/2007
    PCH 836 MORNINGSIDE RD $1,195,000 6/8/2007
    Lookos to have been a rental property since 1993

    USDLR – 2639161
    SLD 19 ORATAM RD $819,000 5/10/2005

    ACT 19 ORATAM RD $974,900 10/4/2006
    PCH 19 ORATAM RD $947,000 1/29/2007
    PCH 19 ORATAM RD $922,000 4/10/2007
    EXT 19 ORATAM RD $922,000 7/5/2007
    PCH 19 ORATAM RD $899,000 7/14/2007
    ACT* 19 ORATAM RD $899,000 9/10/2007

  33. Rich In NNJ says:

    Will V.

    Are you sure your friend isn’t telling you that he paid the same to “save face”?


  34. John says:

    U.S. Federal Open Market Committee Statement: Text

    By Washington newsroom +1-202-624-1820

    Sept. 18 (Bloomberg) — The following is the full text of the statement released today by the Federal Reserve:

    The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4 3/4 percent.

    Economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally. Today’s action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time.

    Readings on core inflation have improved modestly this year. However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully.

    Developments in financial markets since the Committee’s last regular meeting have increased the uncertainty surrounding the economic outlook. The Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.

    Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Charles L. Evans; William Poole; Eric S. Rosengren; and Kevin M. Warsh.

    In a related action, the Board of Governors unanimously approved a 50 basis point decrease in the discount rate to 5 1/4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve banks of Boston, New York, Cleveland, St. Louis, Minneapolis, Kansas City and San Francisco.

  35. Eagle says:

    Rich, Thank you. And John, we do not intend to do anything illegal or unethical. I did not mean to imply otherwise.

  36. John says:

    – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
    Acoustic Home Loans — Halted applications Apr. 06
    Ameriquest Mortgage ACC Capital Hld. Shut retail branches May 06
    Meritage Mortgage NetBank Closed Nov. 06
    Summit Mortgage Summit Financial Closed Nov. 06
    Sebring Capital — Closed Dec. 06
    Ownit Mortgage Solutions — Bankruptcy Dec. 06
    Harbourton Mortgage Harbourton Capital Closed Dec. 06
    Alliance Home Funding Alliance Bankshrs. Closed Dec. 06
    Millennium Bankshares — Closed mortgage unit Dec. 06
    Popular Financial Popular Closed subprime unit Jan. 07
    Bay Capital Clear Choice Fin’l Closed Jan. 07
    EquiBanc Mortgage Wachovia Closed Jan. 07
    Funding America LLC Ocwen Financial Closed Jan. 07
    DeepGreen Financial Lightyear Capital Closed Jan. 07
    Eagle First Mortgage — Closed Jan. 07
    Mortgage Lenders Network — Bankruptcy Feb. 07
    Lenders Direct Capital — Halted wholesale loans Feb. 07
    ResMae Mortgage Bankruptcy, revived Feb. 07
    Central Pacific Mortgage — Closed Mar. 07
    FMF Capital LLC FMF Capital Group Closed Mar. 07
    Silver State Mortgage — License revoked Feb. 07
    Ameritrust Mortgage — Shut subprime unit Mar. 07
    Master Financial — Halted originations Mar. 07
    Investaid Corp. — Suspended Mar. 07
    People’s Choice — Bankruptcy Mar. 07
    LoanCity — Closed Mar. 07
    New Century Financial — Bankruptcy Apr. 07
    SouthStar Funding — Bankruptcy Apr. 07
    Peoples Mortgage Webster Financial Closed Apr. 07
    WarehouseUSA NovaStar Closed Apr. 07
    Copperfield Investments — Bankruptcy Apr. 07
    First Horizon National — Halted subprime loans Apr. 07
    Opteum Fin’l wholesale Opteum Closed unit(h) Apr. 07
    H&R Block Mortgage H&R Block Closed Apr. 07
    MILA(i) — Bankruptcy Apr. 07
    Texas Capital Bank Texas Cap. Banc. Closed mortgage unit Apr. 07
    Millennium Funding Grp Roark Capital Halted originations Apr. 07
    Columbia Home Loans OceanFirst Closed May 07
    Lancaster Mortgage — Halted wholesale loans June 07
    Oak Street Mortgage — Bankruptcy June 07
    Starpointe Mortgage — Closed June 07
    Heartwell Mortgage(j) — Halted retail/wholesale June 07
    Wells Fargo — Shut correspondent unit June 07
    Wells Fargo — Shut subprime wholesale July 07
    Premier Mortgage Funding — Bankruptcy July 07
    Alliance Mtg Investments — Bankruptcy July 07
    Entrust Mortgage — Halted loans July 07
    Alternative Financing — Halted wholesale loans Aug. 07
    Trump Mortgage — Closed Aug. 07
    American Home Mortgage — Bankruptcy Aug. 07
    MLSG Home Loans — Halted loans Aug. 07
    Impac Mortgage — Suspended Alt-A loans Aug. 07
    Fieldstone(f) C-Bass Closed Aug. 07
    HomeBanc Mortgage HomeBanc Corp. Bankruptcy Aug. 07
    Aegis Mortgage Cerberus(k) Bankruptcy Aug. 07
    Regions Regions Fin’l Shut warehouse unit Aug. 07
    Express Capital Lending — Halted acceptances Aug. 07
    Bay Finance Commerce Group Halted loans Aug. 07
    First Indiana — Shut wholesale unit Aug. 07
    Guardian Loan — Closed Aug. 07
    Unlimited Loan Resources — Halted loans Aug. 07
    Pacific American Mtg. Golden Empire Halted wholesale loans Aug. 07
    Thornburg Mortgage — Suspended applications Aug. 07
    National Home Equity National City Halted loans, merged Aug. 07
    NovaStar Financial — Halted wholesale loans Aug. 07
    GreenPoint Mortgage Capital One Shut wholesale unit Aug. 07
    First Magnus Financial — Bankruptcy Aug. 07
    First Nat’l Arizona 1st Nat’l Hld Halted wholesale loans Aug. 07
    Quality Home Loans — Bankrupt, sale pending Aug. 07
    Amstar Mortgage Amstar Financial Closing Aug. 07
    Accredited Home — Halted loans Aug. 07
    BNC Mortgage Lehman Brothers Closed Aug. 07
    Transnational — Halted wholesale loans Aug. 07
    CIT home lending CIT Group Closed Aug. 07
    Ameriquest Mortgage ACC Capital Halted applications Aug. 07
    Group One Mortgage Northwest Mortgage Shut (wholesale lender) Aug. 07
    WarehouseOne — Halted warehouse loans Sep. 07
    First Collateral Citigroup Halted new clients Sep. 07
    BrokerSource BSM Financial Halted wholesale loans Sep. 07
    Washington Mutual — Shut two units Sep. 07
    CapitalSix — Suspended operations Sep. 07

Comments are closed.