Imploding Lenders

Most of you know that Brian recently changed companies after 10 years with National City Mortgage. It was a very tough decision for him which he didn't take lightly. Of course now the mortgage industry is in turmoil and it's becoming increasingly difficult for people to get financing. You basically need a high credit score with a solid and steady income and all of the documentation to prove it.......the days of "no doc" loans have gone away, for the time being anyway.

So this list is pretty interesting. It shows all of the lenders that have closed their doors since late 2006. Currently it's at 116. Oh wait, make that 117.

What's interesting is that his old company is on the "Ailing/Watch List" as #14 and his new company is still the #1 lender in the US. It's nice to know he made the right move (as I wipe my forehead).

Oh, another one of Trump's companies closed doors (#114)....ha!

Is your lender on that list??