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Tag Archive: Mortgage Lender Implode-o-Meter

A compendium of mortgage bank failures


The Mortgage Lender Implode-o-Meter has a useful list of companies that have gone belly up in the subprime mortgage crisis that appears to be more the trigger than the overall cause of the current financial meltdown. I was looking at it Friday, browsing the stories, and some of it is pretty incredible (the list of 285 failures is pretty incredible). Reading about the first failure, Merit Financial, gives a flavor of just how freewheeling these firms could be:

The 42 complaints received by state agencies and the Better Business Bureau give insight into Merit's problems. Addressed individually, none was ...

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