Any Mortgage people in here?

[dunaholic]

No. i am not operating a net branch
So what states do you do?

[Tequila-John]

They have made it very clear throught their attorney's that branches are not expected to get paid after the BK proceedings. Good friend of mine called me a couple days after the word spread that they were going under and told me he had been waiting for a 30K check from them. He is not going to get paid. There is an attorney in Woodland Hills that is trying to form a class for a suit right now. Dana Smith has not been too popular as of late and as a result has kind of been hiding from what I hear.
I am sure Sage credit will be fine though

[dunaholic]

I am sure Sage credit will be fine though
I hear from an inside source that they are having the same problems.

[Tequila-John]

I hear from an inside source that they are having the same problems.
think maybe becasue is the same owner as Dana Capital?

[dunaholic]

think maybe becasue is the same owner as Dana Capital?
Actually, Sage is owned by Quintin. he used to be Dana's right hand man.

[Smiley]

Who is your branch under? I was with Dana Capital and we all knw how that ended. Thank God I had the forth sight to stop sending them loans about 4 months ago.
Actually I work for a direct lender. No brokers for me!

[dunaholic]

Actually I work for a direct lender. No brokers for me!
I have lines as well. With 5 lenders.

[Smiley]

I have lines as well. With 5 lenders.
Not sure what you mean, Lines? I work directly for a bank, not a broker.

[dunaholic]

Not sure what you mean, Lines? I work directly for a bank, not a broker.
I am the broker, but I have credit lines with several lending institutions. Meaning we fund the loan and then they buy it from our line. Maybe you are more familiar with the term Correspondent lender.

[acatitude]

boy this thread got hijacked