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from a post at askfleck
Topic: Mortgage REITS
Another Dead Soldier --
This is a little odd and I don't know all the facts yet, but it looks like Wachovia just shut down their non-comforming loan operation. Their Equibanc website basically says "We're closed" The dominoes seem to fall faster every week.
http://www.equibanc.com/index.htm
from the website:
Wachovia recently conducted an intensive strategic review of its mortgage business which has altered the company's approach to the origination of non-conforming loans. As a result, Wachovia has elected to close EquiBanc Mortgage - Wachovia's only business dedicated solely to non-conforming loans.
Topic: Mortgage REITS
Another Dead Soldier --
This is a little odd and I don't know all the facts yet, but it looks like Wachovia just shut down their non-comforming loan operation. Their Equibanc website basically says "We're closed" The dominoes seem to fall faster every week.
http://www.equibanc.com/index.htm
from the website:
Wachovia recently conducted an intensive strategic review of its mortgage business which has altered the company's approach to the origination of non-conforming loans. As a result, Wachovia has elected to close EquiBanc Mortgage - Wachovia's only business dedicated solely to non-conforming loans.
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