Home › Forums › Housing › Another subprime lender down? (rumor) › Secured Funding is closing
Secured Funding is closing up its wholesale ops – they are accepting no new apps and they will fund the last loans on Jan 12th.
A lot of the lenders are pulling back on 100% stated purchases, at least.
I think these changes will have a real effect on some very inflated markets. There’s no way to qualify most borrowers using real numbers.
