Local Mortgage Wholesale Office Closes Today


Update January 17, 2008.  I just called Bellevue’s office of MortgageIt where the receptionist told me "we’re not closed YET".  I asked if they were closing and why would their rep send this email out and she replied that other offices are closing and she has no idea why the rep sent the email.   These are odd times for sure.  I’ll try to get to the bottom of this.

Update January 17, 2008 5:30 pm.  I understand that MortgageIt will be closing their Bellevue office at the end of this month.  I guess our rep was a wee bit premature with her announcement.

I just received this email from our Wholesale Rep of MortgageIt in Bellevue:

I just wanted to let all of you know that the Bellevue Branch of MortgageIT has closed today.  I wanted to wish all of you well and the best of luck in the New Year.  I will truly miss the relationships I have made in this industry….Please keep in touch.  Thanks again!
Stephanie Price
MortgageIt is a subsidiary of Deutsche Bank.   From another Bellevue MortgageIt Account Executive Krisel Anderson’s site on Active Rain:
MortgageIT is a growing Top 25 lender that originated approximately $29 billion in wholesale, retail and correspondent loans in 2005 and continues to build a network of established offices in the US.
I have no idea if other branches have been closed as well.  I’ll provide more information when I receive it. 
Update – January 16, 2008 1:15 pm:  I just received a generated rate sheet from MortgageIt stating that prices have worsened (many lenders are sending new rate sheets due to the changes in rate today).   So perhaps it’s just the Bellevue Branch that is closed.   I was expecting it to be a formal announcement from MortgageIt.   What have you heard?

Speak Your Mind