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Politics & Money

Newsday: American Home ‘Closes’ Tomorrow

Per a Newsday report:

American Home Mortgage Investment Corp. will be closing its doors Friday, after several attempts to sell of all or some of its divisions to rival lenders went up in smoke this week, numerous employees said. Employees said they were contacted by senior management through the course of the day and told that none of their strategic options for remaining open had panned out. Just after 3 p.m., company founder Michael Strauss sent an email to employees saying, “American Home Mortgage has been forced to close.” It said tomorrow would be their final day of employment.

It’s not exactly clear from the above if this means all of American Home’s business units will be shutting down — I’m assuming the servicing ops need to stay up — but I’m assuming this means a bankruptcy has been or will be filed shortly as well.

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3d rendering of a row of luxury townhouses along a street

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