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Greenpoint Mortgage: the Latest Casualty
More sad news. Today Capitol One Financial Group announced that effective immediately it is shutting down Greenpoint Mortgage, it’s wholesale lending group. I did a lot of business with Greenpoint over the years. They’ve been a great niche lender, but their eggs were predominately in the Alt-A basket which this market has riddled with holes. Here’s another link to the story.
August 20th, 2007 at 5:43 pm
Ouch! That hurts. Greenpoint had a great selection of expanded guidelines product. Always a solution there when we needed it.
August 21st, 2007 at 11:49 am
Wow, that is crazy, they were huge in the Sac market. Half my buyers had loans through them…
August 21st, 2007 at 11:49 am
Thanks, Marc. I’m sorry to read this kind of news but thanks for bringing it to my attention.
August 21st, 2007 at 11:50 am
That is a bummer!!! I have had clients get their loans there in the past. They were a great niche lender.
Thanks for the update!
August 21st, 2007 at 11:51 am
Thanks, Mark for the update. You and Lindsay are the first on my list of lenders to refer.