{"id":199396,"date":"2007-08-03T05:58:00","date_gmt":"2007-08-03T10:58:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/08\/03\/another-mortgage-lender-bites-the-dust\/"},"modified":"2007-08-03T05:58:00","modified_gmt":"2007-08-03T10:58:00","slug":"another-mortgage-lender-bites-the-dust","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/08\/03\/another-mortgage-lender-bites-the-dust\/","title":{"rendered":"Another Mortgage Lender Bites The Dust"},"content":{"rendered":"<p>It appears that <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aRYRpmo5xWEo&amp;refer=home\">American Home Mortgage will shut down Today<\/a>.  It&#8217;s lenders have made margin calls, and it has no money left.<\/p>\n<p>This is not a subprime lender.  This is an Alt-A lender.<\/p>\n<blockquote><p>American Home specializes in Alt-A mortgages, an alternative for A-rated borrowers who can&#8217;t satisfy all the terms for a regular &#8220;prime&#8221; mortgage. Founded in 1988 by Chairman and Chief Executive Officer Michael Strauss, the company became the 20th- largest Alt-A lender by 2006, according to trade publication Inside Mortgage Finance. IndyMac Bancorp Inc. ranked first.<\/p><\/blockquote>\n<p>This is not the first lender to go under, you can see the accellerating rate of mortgage lender failures at the <a href=\"http:\/\/ml-implode.com\/\">Mortgage Lender Implode-O-Meter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It appears that American Home Mortgage will shut down Today. It&#8217;s lenders have made margin calls, and it has no money left. This is not a subprime lender. This is an Alt-A lender. American Home specializes in Alt-A mortgages, an alternative for A-rated borrowers who can&#8217;t satisfy all the terms for a regular &#8220;prime&#8221; mortgage. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,1265],"tags":[],"class_list":["post-199396","post","type-post","status-publish","format-standard","hentry","category-bubble","category-housing-crash"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/199396"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=199396"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/199396\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=199396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=199396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=199396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}