Lime [Imploded]

Dyn-o-mite! Joined: 08 Mar 2007 Posts: 336

the deal with credit suisse(cs) is nothing new its been in the works since the summer, if i recall cs came in with addl warehouse resources for lime, what it really was to those that could see though the pr bullsh** was that cs wanted to see how lime's deal will execute before they pulled the trigger on taking them over... now they made it official but trying to get a deal through lime is like trying to go through a minefield, with cs calling the shots i see it being even harder and lime being absorbed into the company and going to the four winds eventually where the reps will be cs reps... from what i hear similar situation is to happen to saxon eventually...

one thing for sure those baldwin boys know how to make companies(meritage) sell them off, start new companies (lime)take in some refugees(meritage ee's after company went down) and then sell off again(lime to cs)!!
meritage people are some commodity being sold off then reabsorbed and now sold off again!

Dyn-o-mite! Joined: 08 Mar 2007 Posts: 336

any new news on these guys or are they dead?

i had heard the reps were given a nice salary based off of a percentage of their income the year before and their ytd! WHILE having no product to sell... the logic is to keep them on board so when CS gets things going they wouldnt have to spend the extra money to hire new people and train them, but i heard this a long time ago. there doesnt seem to be anything to date on the net on their status

Flash in the pan Joined: 02 Nov 2007 Posts: 92

doing good and working hard, minimal reps but still have product. Cred suisse hasn't tanked them yet.

Schumpeter Reincarnate Joined: 21 Jan 2008 Posts: 3256

Lime is still going... i know an AE who has been there for a couple years and he's still there

Schumpeter Reincarnate Joined: 11 Dec 2007 Posts: 4761

they are trying to come back into the Chicago market, not that they were ever really here in the first place.

Does anyone know if Credit Suisse is doing mortgages separately? I know the two people in Chicago were working on the CS side prior to being switched to the latest greatest Lime incarnation.

Posted: Sun Feb 03, 2008 6:58 pm

Is anyone else as shocked as I am that LIME of all lenders seems to have survived this mess?

Flash in the pan Joined: 28 Nov 2007 Posts: 79

OMG! ROTFLMAO!! I just blew coffee out my nose.....haha

That "SUPPLIES" is hilarious. Jeremy, I come to the site now strictly for entertainment from YOU! hahahahahaha

I think LIME is flying under the radar somehow. I saw an AE in the field not long ago and she had on a LIME GREEN blouse (no kidding). I introduced myself and asked her who she worked for and she said "LIME". I looked at her top and wish to God, I could have held in the chuckle, but I couldn't. She looked completely offended until I explained I was laughing at her company name coordination to her fashion sense. I think she only "mildly" forgave me. The LO laughed too though.

...........obviously not one of my "finer moments" Twisted Evil or Snarky

.....hehe

Dud? Joined: 04 Feb 2008 Posts: 1

Lime will be done in short order. AE's unhappy. Getting deals done is a nightmare and CS isn't buying their own company's production.

Cherry Bomb Joined: 11 Jan 2008 Posts: 112

I'm in the Pacific NW, and I heard just last week that they are looking to get into VA lending (at least here). They had contacted one of my former underwriters who had some VA experience. I hadn't heard about them in more than a year and had assumed they were no longer with us. Evidently they are, and are getting into doing govt. loans.

Dud? Joined: 04 Feb 2008 Posts: 12 Location: NV

Straight from the area managers mouth here in Nv.

They will be doing the prime. They are in the middle of setting up there FHA/VA. Convent stuff, and they were just on a conference call thursday last week for the new Jumbo product there putting out.

There game plan is to carry nothing but Prime products by the time they have the sales force out on the street again solicting heavily. There "fixed" salary comes to an end this month.