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 Banco Popular out of wholesale eff 10/31/08 View next topic
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Rolo Tomasi
C-4


Joined: 10 Dec 2007
Posts: 1128
Location: Texas

Banco Popular out of wholesale eff 10/31/08
PostPosted: Wed Oct 22, 2008 6:42 pm Reply with quoteBack to top

Dear Mr. Tomasi,

Effective October 31, 2008, the Banco Popular Wholesale Mortgage division will discontinue our mortgage lending programs. Because of continuing distress in the U.S. economy, Banco Popular will exit all niche business lines that are non-deposit generating operations. The restructuring plan is a direct result of the turbulent times currently faced by financial institutions. Streamlining operations will allow our parent company, Popular, Inc. to focus on increased profitability and lower credit costs.



Loan file submissions will be accepted until October 31, 2008. If you have a pending loan submission, the loan will need to close no later than November 28, 2008. Please contact the Processing Department at (713) 463-2400 for instructions on clearing conditions or other issues that require action.




For more than two decades, Banco Popular Wholesale Mortgage remained the preeminent ITIN and Foreign National lender in the Mortgage industry. We have valued your continued support and patronage. It has been a pleasure to serve you and your customers.

Thank you,
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thebfgb
Schumpeter Reincarnate


Joined: 21 Jan 2008
Posts: 3256

Re: Banco Popular out of wholesale eff 10/31/08
PostPosted: Wed Oct 22, 2008 7:19 pm Reply with quoteBack to top

oh my god what are illegals going to do!!!!!!!
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brokerjohn
Schumpeter Reincarnate


Joined: 11 Dec 2007
Posts: 4761

Re: Banco Popular out of wholesale eff 10/31/08
PostPosted: Wed Oct 22, 2008 7:29 pm Reply with quoteBack to top

Wonder how many of those mortgages are eligible for the bailout.

_________________
In politics we presume that everyone who knows how to get votes knows how to administer a city or a state. When we are ill… we do not ask for the handsomest physician, or the most eloquent one.

– Plato
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HelpWanted
C-4


Joined: 10 Jan 2008
Posts: 1139

Re: Banco Popular out of wholesale eff 10/31/08
PostPosted: Fri Oct 24, 2008 9:50 pm Reply with quoteBack to top

thebfgb wrote:
oh my god what are illegals going to do!!!!!!!


Illegal is such a strong word, undocumented workers is so much softer and comfy. Makes it seem like they forgot their ID at home when they went to work that morning.

La Migra! Corre, La Migra!
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thebfgb
Schumpeter Reincarnate


Joined: 21 Jan 2008
Posts: 3256

Re: Banco Popular out of wholesale eff 10/31/08
PostPosted: Fri Oct 24, 2008 11:20 pm Reply with quoteBack to top

HelpWanted wrote:
thebfgb wrote:
oh my god what are illegals going to do!!!!!!!


Illegal is such a strong word, undocumented workers is so much softer and comfy. Makes it seem like they forgot their ID at home when they went to work that morning.

La Migra! Corre, La Migra!


Like this kind of ID..........?

Image
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1 More Thing
Wrecking crew


Joined: 19 Jul 2007
Posts: 1610

Re: Banco Popular out of wholesale eff 10/31/08
PostPosted: Tue Oct 28, 2008 9:16 pm Reply with quoteBack to top

thebfgb wrote:
HelpWanted wrote:
thebfgb wrote:
oh my god what are illegals going to do!!!!!!!


Illegal is such a strong word, undocumented workers is so much softer and comfy. Makes it seem like they forgot their ID at home when they went to work that morning.

La Migra! Corre, La Migra!


Like this kind of ID..........?

Image




LOL ---- Mexifornia -- sounds like a seedy movie
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Robin
Sentinel


Joined: 30 Aug 2007
Posts: 3416
Location: Loveland, OH

Re: Banco Popular out of wholesale eff 10/31/08
PostPosted: Tue Oct 28, 2008 10:35 pm Reply with quoteBack to top

Finally. Up at #295 on the list: http://ml-implode.com/imploded.....10-28.html

Now we just need input on Equity One Commercial. Told they were (one of) the big investors behind Bayview et al. Anyone got ideas on volume, headcount, etc? Email me or submit to the tipline.
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Underwriter
Wrecking crew


Joined: 07 Aug 2007
Posts: 1836

Re: Banco Popular out of wholesale eff 10/31/08
PostPosted: Wed Oct 29, 2008 11:53 am Reply with quoteBack to top

'...preeminent ITIN and Foreign National lender....'

I have to wonder how much of these loans contributed to their mounting losses?

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My friends call me Underwriter, but you can call me the Riot Inciter!
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Robin
Sentinel


Joined: 30 Aug 2007
Posts: 3416
Location: Loveland, OH

Re: Banco Popular out of wholesale eff 10/31/08
PostPosted: Wed Oct 29, 2008 11:05 pm Reply with quoteBack to top

Robin wrote:
Finally. Up at #295 on the list: http://ml-implode.com/imploded.....10-28.html

Now we just need input on Equity One Commercial. Told they were (one of) the big investors behind Bayview et al. Anyone got ideas on volume, headcount, etc? Email me or submit to the tipline.


Equity One up at #297 sans the details. Help us out folks!
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