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Amstar Mortgage

Amstar Mortgage - News

Crednology Holding Corp Announces Further Expansion of the Company's ...
"We believe that with team leaders like Romel Carlton, Bob Klesath, and former Amstar Mortgage CEO Howard Wayland at the wheel, this group is poised to do great things," stated Troy Fields, Sr. Executive VP. "We are very pleased to have them as dealer 

AmStar Mortgage - Market Update 2-2-12.mp4

Market Update for Realtors - Job Market, Consumer Spending & Home Sales Create a Picture of What's to Come

Lehman Closes Subprime Unit and Lays Off 1200

Lehman Brothers , a leader in packaging subprime mortgages into securities, said yesterday that it would shut one of its home lending units and lay off 1,200 employees. The bank said it would take a $52 million charge to third-quarter earnings.

“Lehman Brothers announced today that market conditions have necessitated a substantial reduction in its resources and capacity in the subprime space,” the firm said in a news release.

The announcement came on a day when Wall Street’s concerns about the credit markets seemed to ease, at least for now; the three major markets all rose more than 1 percent. The rush to the safety of short-term Treasury markets also slowed.

As part of the effort to calm the markets, several banks, at the prompting of the Federal Reserve, borrowed $2 billion from the discount window.

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