Failing Lenders & How It Affects You, the Investor
Written by Dealmaker (Matt)
Tuesday, 07 August 2007
As lenders are cutting off borrowers, Wall Street is cutting off lenders from the capital they need to continue making loans.On Monday, American Home Mortgage Investment filed for bankruptcy protection. AHMI was not a sub-prime lender so the announcement on Monday surprised a lot of brokers. As more lenders are shutting down and the remaining lenders are tightening their underwriting standards.