Thursday, August 30, 2007

The Mortgage Lender Implode-O-Meter

The Implode-O-Meter blog was created as a site dedicated to tracking mortgage lenders who have gone under as of late 2006. Since that time, the site has documented 143 implosions (a subjective classification which can mean a variety of things including bankruptcy and halting operations). The list is almost mind-boggling, and includes big names such as Novastar, National City Home Equity, Wells Fargo (Alternative Lending & Correspondent), Home123/New Century, H&R Block Mortgage, Ameriquest, and the latest, Allstate Home Loans.

The Implode-O-Meter site also has a forum for discussing mortgage issues.

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