MISH'S
Global Economic
Trend Analysis

Recent Posts

Friday, April 14, 2006 10:14 PM


Subprime Lender Acoustic Goes Under


Mish Moved to MishTalk.Com Click to Visit.

As of 4/14/2006 Acoustic Home Loans is no longer in business.

Acoustic will not accept new loan submissions after 4/13/2006; however, we will continue to process loans that are in approved status or better. Applications received after 4/13/2006 and loans that are not in approved status or better will be returned to the broker. If you are a broker with a loan in process, a borrower who has a loan with Acoustic, or the media please call our main number at 866.226.8784 and you will be directed to the appropriate person.

Hmmm. It seems the industry's first and only "Guaranteed Broker Contract" is no longer guaranteed. Acoustic was the 27th-largest nonprime wholesale originator in the nation.

Rest assured many more "guarantees" will be broken in the upcoming months.

Mike Shedlock / Mish
http://globaleconomicanalysis.blogspot.com/




BitGold: Open Your Account Today!

Subprime Lender Acoustic Goes Under

Posted by Michael Shedlock at 10:14 PM

Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.

Subscribe to:

Last 10 Posts


Copyright 2009 Mike Shedlock. All Rights Reserved.
View My Stats