As The SubPrime Market Disintegrates, Wachovia Shuts Equibanc Mortgage
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
The meltdown in the subprime market is coming to a head as Wachovia is shutting down its EquiBanc Mortgage subsidiary. The subprime lending division is facing tighter restrictions, a limited market for selling the debt, and new regulatory challenges forcing Wacovia to re-evaluate the buisiness.
The Web site of Georgia-based EquiBanc states Wachovia decided to close the business after “an intensive strategic review of its mortgage business, which has altered the company’s approach to the origination of nonconforming loans.”
A Wachovia spokeswoman confirmed the reason for the closure.
EquiBanc was Wachovia’s sole business dedicated to subprime lending, the site said.
If you are an agent, how will the lockdown on the subprime market affect your ability to sell?
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
