Tuesday, August 21, 2007
Another Lender Bites The Dust
Chalk another one up to the subprime mortgage lending tally. Sandy Springs-based Amtrust Mortgage closed its doors last week, leaving 150 Georgia employees without jobs. Former President Stephen B. Whipple blames the April merger with First Magnus for Amtrust not being able to survive this market. Current loans are not affected; however, those with loans pending approval are being directed elsewhere.
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1 comments:
Mr. Whipple is not being truthful. If Amtrust did not merge with First Magnus, Amtrust would of went under months ago. As usual Mr. Whipple is skirting the truth, I believe he calls it "Whipspeak".
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