Items Tagged with 'Aaron Krowne'


  • SouthStar Funding Goes Under

    Atlanta-based SouthStar Funding, LLC said late Friday in a posting on the company's Web site that it has ceased mortgage lending operations, apparently the latest victim in the credit crunch that has claimed numerous businesses in the first quarter of 2007. The company cited "the recent unprecedented downturn and policy changes in the mortgage industry" for the shutdown, and provided no indication of its plans for future action. Calls to the company seeking comment were not returned by HW's publishing deadline on Monday.
    Read More
  • Commentary: This Will Hurt a Little Bit

    No words: I usually reserve this space for my comments on the mortgage banking week that was, and this week won't be any different, except to say that I'm deeply saddened by the trouble I'm seeing unfold in the subprime -- and to a lesser extent, Alt-A -- mortgage market. I'm not bearish on the mortgage markets per se, but as the subprime industry goes through a seismic shift of sorts and in spite of how many in the outside media have portrayed the entire subprime industry as bunch of villians, there are going to be plenty of good, hard-working people on the origination side of the business that are going to lose their jobs because of what is now taking place. And that doesn't get into the homeowners that have been or will be impacted as well.
    Read More
  • Commentary: Subprime Crunch Not Over Yet

    And there's the rub: For all the negative press the subprime industry has been getting lately, Impac's admission of significant losses this past week – along with other residential REITs outside of the subprime sector, including Opteum – signals that the problems within subprime credit may not be entirely confined just to subprime. Last week's commentary in this space speculated that Alt-A could be the next credit sector to show some weakness, and Impac's “earnings,� along with a warning on servicer stability from Moody's, suggest that the Alt-A credit sector is seeing increasing volatility as well.
    Read More
  • Silver State Mortgage Makes Abrupt Exit

    Silver State Mortgage, one of the nation's larger wholesale lending operations, said yesterday that it has ceased all national operations. According to a notice posted on the company's website, the company said it is "evaluating opportunities" with other financial institutions, although no reason was provided for the company's closure.
    Read More