FMF Capital LLC and Domestic Bank Close Wholesale Lending
Domestic Bank announced on March 7 they would be shutting down their wholesale division due to low bids and lack of bids on some of its nonconforming loans that are coming from Wall Street. FMF Capital LLC announced on March 9 they would cease operations. They succumb to three class action lawsuits which were filed against them in Michigan, Ontario and Quebec, Canada. The suits alleged that the company "violated the Michigan Uniform Securities Act, committed fraud and took part in negligent misconduct."
4 comments:
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