Nonbank Hometown Lenders files for bankruptcy
Housing Wire
JUNE 4, 2024
Hometown Lenders has filed for Chapter 11 bankruptcy protection in Alabama, blaming the Federal Reserve’s policy to curb inflation for its debacle. According to mortgage tech platform Modex , it originated $3.3 “As a result of the sharp rise in mortgage rates, the Debtor’s top-line revenues declined by over 70%.”
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