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Real Estate & Property Law

: Housing Wire

Frozen Credit Line Topples Mortgage Company

By KELLY CURRAN

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Officials said 20-year-old Mississippi-based Realty Mortgage Corp., one of the largest privately owned mortgage companies in Mississippi, laid off about 300 employees in several states last week after Countrywide Financial Corp. froze its line of credit, according to Yahoo Finance. Representatives at Countrywide, which was acquired by Bank of America Corp. (BAC: 6.98 +13.87%) in July [...]

Full post as published by Housing Wire on February 09, 2009 (boomark / email).

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