Interest Rate Roundup

Tuesday, January 02, 2007

An update on MLN ...

Just to follow up on my post about Mortgage Lenders Network, the company recently put out a press release saying it will continue servicing loans and making mortgages through its retail arm, but will "temporarily discontinue" its wholesale lending operations. The release goes on to say "the economics of the wholesale mortgage market have deteriorated dramatically over the past two months." Both credit quality and margins are the problem, MLN added.


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