Monday, August 06, 2007

National City Home Equity stops taking loan applications

by Calculated Risk on 8/06/2007 03:07:00 PM

From MarketWatch: National City Home Equity stops taking loan applications

National City Home Equity, a unit of National City Corp. stopped taking loan applications on Monday, according to an e-mail that was sent to mortgage brokers. MarketWatch obtained a copy of the e-mail. National City Home Equity also said that decisions on loans that are currently in its pipeline would be made later today.
I've also heard that Aegis Mortgage suspended all loan originations on Monday. From crispy&cole in the comments:
Aegis unable to fund mortgage loans already in pipeline 2:12 PM ET, Aug 06, 2007
Aegis Mortgage suspends all loan originations 2:12 PM ET, Aug 06, 2007