Items Tagged with 'American Home Mortgage Investment Corporation'

ARTICLES

  • SEC Charges Two at American Home with Fraud

    The Securities and Exchange Commission (SEC) today charged two former executives at American Home Mortgage Investment Corporation with accounting fraud. The charges against the heads of the now-bankrupt former Alt-A lender out of New York stem from their alleged engagement in a pattern of false and misleading claims that concealed financial losses from investors.
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  • FHA Mortgage Focus Fuels Lend America's Rise

    The changing landscape in mortgage banking is propelling fast-growth for lenders that specialize in originating mortgages endorsed by the Federal Housing Administration; Melville, New York-based Lend America is a perfect example of what may be the new reality in mortgage lending.
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  • Update: American Home Lays Off 6,250

    Amid numerous industry insiders informing me today that American Home Mortgage Investment Corp. will file (or has already filed) for bankrupcty protection -- for the record, nothing is showing in PACER yet -- the company issued a press release confirming earlier reports that the company's production operations have shut down:
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  • 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.
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  • American Home Mortgage Faces Liquidity Crisis; Is Bankruptcy Next?

    American Home Mortgage Investment Corp. issued a formal statement this morning confirmed what most in the industry had known since yesterday -- that the lender was facing a liquidity crisis that had forced the company to cease funding new loans. In a press release, the company said it is facing what it called "unprecedented" liquidity problems:
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  • Newsday: American Home Cuts More Jobs

    Newsday is reporting that Alt-A lender American Home Mortgage Investment Corp. has cut another 228 employees in its latest round of layoffs: American Home Mortgage Investment Corp., the beleaguered Melville-based mortgage bank, has laid off another 228 employees, bringing to 428 the number of job cuts this month, a company spokeswoman said yesterday.
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  • American Home Lays Off Hundreds; What's Really Going on in Alt-A?

    From Newsday, news of quiet trouble at American Home: American Home Mortgage Investment Corp. ... has laid off hundreds of workers without notice or even time to clear out their desks, current and former employees said this month. ... as things turned south for many housing-related businesses, American Home has offered what one analyst called "overly rosy" earnings predictions ...
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