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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

Subprime Lender Quality Home Loans Files for Bankruptcy

The company listed between $1,000,001 and $100 million of assets, more than $100 million of liabilities, and between 1,000 and 5,000 creditors.

Subprime lenders make home loans to people with weaker credit histories. Quality Home Loans catered to customers including those with no minimum credit scores, no mortgage or credit histories, no documentation of income or assets, and in or just out of bankruptcy, according to its Web site.

Houston-based Amstar said on Wednesday its decision to quit mortgage lending resulted mainly from market conditions, the cost to operate branches and defend lawsuits, and "seemingly stable lenders unable or unwilling to honor contract commitments."

As part of the shutdown, Amstar said it plans to cease public reporting of its financial statements.

Spokesman Michael Wayland said Amstar made about $1.5 billion of mortgage loans in the year ended Sept. 30, 2006, with about two-thirds eligible for purchase and guarantee by mortgage companies Fannie Mae and Freddie Mac.

Spring breakers caught up in transportation turf war in Cancun

A group of suburban high school students and their families say they felt like they were being held hostage when they found themselves in the middle of a spring break stand-off in Mexico.

“We booked a vacation through the Dreams hotel and it wound up being a nightmare,” parent Sherri Adams told WGN Investigates.

Adams was part of a group of nearly 70 Hinsdale Central High School students, parents and siblings who went on a senior year spring vacation trip to Cancun in March. This vacation was not coordinated by the high school.

Problems popped up soon after they booked an evening excursion to Señor Frogs. They chartered several vans through Amstar, a company with sales representatives in the hotel lobby. As the group departed the hotel and exited a second security gate that protects the resort area, they say their vehicles were surrounded.

“All of a sudden there are 50 cabs blocking us in – stopped in front of us – they’re not letting us go,” said parent Donna Mittelstadt. Parents say the cabbies had machetes in their hands and immediately began threatening the group.

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