Orlando Real Estate

Credit Crunch Hits Home

August 7th, 2007 10:54 AM by David W. Welch

For years I have highly recommended Homebanc Mortgage Corporation to my customers needing a mortgage. Today it was announced that Homebanc will no longer be writing new mortgages. Homebanc has been an extremely well managed company with a relatively conservative approach to lending, but even the "A" lenders are feeling a bit of the credit crunch because of the high dollar or jumbo loans that are now carrying a higher premium in the secondary mortgage market.

I believe that the mortgage creation side of Homebanc has been purchased by Countrywide, so we should continue to see a lot of familiar faces with new name tags. I can also tell you that Countrywide is a first rate mortgage company that I have had the pleasure of working with in the past.

Posted in:General
Posted by David W. Welch on August 7th, 2007 10:54 AM

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