MLN Closes its Doors
Mortgage Lender's Network USA, a $17 billion loan servicer of subprime loans filed for bankruptcy protection in early February. The company said it owed creditors $92 million. In a phone conversation with a representative earlier this week, LenderLoft.com learned that MLN will no longer accept any loan applications and will officially close its doors in mid April. MLN is just another in a string of several subrpime lenders who have made the announcement that they are shutting down. If you have a pending loan with MLN, they company advises you to contact their customer service department to have the loan documents returned to you for submission to a different lender.
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