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Group One Lending Reviews
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Group One Out of Business?
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Date: 2008-09-18 21:14:53
As far as we can tell, Group One is Done. Over With, Gone, Good Bye.

Please let us know if we're mistaken.

This is a copy of an email supposedly sent from Group One Lending.
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We regret to inform you that effective today a decision has been made to close the Wholesale entity of NW Mortgage Group, Group One Lending. Please be assured that all loans in our pipeline may be locked and closed through September 28th. We will continue accepting new loan submissions through the end of business day today. Lock confirmations will be delivered tomorrow and we will honor today's pricing for all e-mailed and phone in locks.

It's important that you all know that NWMG is a strong, viable, financially-sound company and will continue retail business as usual.

We appreciate having the opportunity to have done business with each and every one of you and your support of Group One Lending. We wish everyone the best of luck in the future.

Group One Lending focused primarily in Alt-A and conforming loans. Regarding their loan volume, a one source noted the following:

Based out of Portland Oregon was closing around 100 million per month. Had 65 employees, at one time did alt a and conforming. Dropped to just conforming around 1 month ago and is now done.

The above description was with regards to Group One Lending's peak operations.

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Source: www.ml-implode.com
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