Multiple e-mails and a thread BU tip us off to it. Home Loans Nations was Cincinnati, OH-based largest lender specializing in Alt-A. Sutton Bank is the parent organization, and reportedly pulled the plug on the operation Nations because they can not meet the $ 25 million monthly volume level (we are told Nations was reduced to an average of $ 6-9 million per month in recent months).
The company’s website (www.nationshomelend.com) is still, and gives states of operation in all states except HR, AK, AL, HI, Washington DC, MD and MI.
United reportedly had about 90 employees. A reader and former employee also sent this information in recent days in the company:
The interesting thing here is that only hired 3 new regional and about 25 of the SA in the past 60 days. I had worked for them until Sutton Bank terminated their relationship Thursday night. Many of the AEM only heard about whether the vine, failure to notify management even happened, email just stopped working.
Note: We have had bad Nations Home Loan originally included in this document (yes, another Alt-A company with exactly the same name). As far as we know, they are fine.
