Review Mortgage Lenders

Abacus Mortgage Loans

Address: 15188 NW Central Dr Portland, OR 97229
Oregon license#: ML-2616 NMLS#: 225036
Abacus Mortgage & Loans in Portland, OR is a private company categorized under Mortgage Brokers Arranging for Loans, Using Money of Others. Our records show it was established in 1997 and incorporated in Oregon. Current estimates show this company has an annual revenue of $500,000 to $1 million and employs a staff of approximately 1 to 4.

LTV Breaking News - Goldman Sachs Abacus Mortgage Deal stirs controversy [Live from New York]

The Tiny, Family-Owned Bank That Took the Fall for the 2008 Financial Crisis

The only financial institution indicted on criminal charges following the 2008 economic meltdown was a family-owned bank with six branches based in New York’s Chinatown and assets of under $300 million.

It was the 2,651st largest bank in the country.

Abacus: Small Enough to Jail , the latest documentary from award-winning filmmaker Steve James ( Hoop Dreams , Life Itself ), is the story of how the Abacus Federal Savings Bank and a number of its former employees were hit with a 240-count indictment alleging grand larceny, fraud, conspiracy, falsifying business records, and residential mortgage fraud.

The film, which opens May 19 in New York followed by a national rollout, tells a tale of cultural misunderstanding compounded by possible racism and prosecutorial overreach. It’s the ultimate David vs. Goliath story, pitting the Sung family, owners of the bank, against the power of the Manhattan district attorney’s office.

'Small Enough to Jail': Doc Explores Sole Bank Charged After 2008 Financial Crisis

The five-year, $10 million legal ordeal between the Sung family and Manhattan District Attorney Cyrus R. Vance Jr., is recounted in "Abacus: Small Enough to Jail" by director Steve James, which opens in theaters Friday.

In the film, James follows the Sung family as they deal with the last months of the trial and await the jury's decision. Eventually, they would be found not guilty of their charges.

James told NBC News what drew him to making this documentary was when Mark Mitten, the film's producer, told him about the case and what the Sung family was going through.

"When Mark, who was friends with Vera for 10 years and the family, first brought it to my attention — it was through his relationship with them that he was hearing about their case because no one was really writing about it in the mainstream media," James said. "Just meeting the Sung family and getting a sense of what they had been through and what they were going through at the time is what really hooked me."