The mortgage dead pool blog is dedicated to the growing list of mortgage companies (banks, lenders, wholesalers) that are going bankrupt, kaput, nada. If you hear anything let us know via email at nutrifitdirect@yahoo.com
Wednesday, March 21, 2007
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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