I think we all saw this coming…
Mortgage lender American Home Mortgage Investment Corp (AHM.N) is closing its doors on Friday, and has told employees they will be laid off, according to the Long Island newspaper Newsday, citing an e-mail to employees from Chief Executive Michael Strauss.
…
The news shows how problems in the U.S. mortgage market are broadening, as credit quality issues begin to affect lenders that focused on borrowers with decent credit, as opposed to “subprime” borrowers thought to be greater risks.
I just don’t think we thought it would happen this week. I wonder how bumpy the real estate road is going to get over the next couple months?
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