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American Home Mortgage
American Home Mortgage is an investment company that was the 10th largest mortgage lender in the whole of United States before it filed for Chapter 11 bankruptcy on August of 2007. It is founded as a type or real estate investment trust or REIT. American Home Mortgage is mainly focused on achieving net earning s on the various net interest generated income that comes from every self originating mortgage backed securities and loans and also by way of its different taxable performing subsidiaries all coming from providing service mortgage loans for industry and institutional home investors.
Before it filed for bankruptcy American Home Mortgage has about more than 600 branches in 40 plus states across the United States. American Home Mortgage was founded in New York City in 1987 and subsequently traded publicly on NASDAQ in September of 1999. The main headquarters of the company was then set up on Melville, NY in the year 2000.
Since its founding, American Home Mortgage has been always involved in engaging in the servicing and origination of mortgages for residential and other real estate properties.
American Home Mortgage continued to build a strong and solid reputations as a very reliable, outstanding and business friendly mortgage company as it serves and provide mortgage plans and lend services to professionals involved in the real estate industry, individual house buyers, builders throughout the many states in the United States such as Colorado, Missouri, Texas, Wyoming, New Mexico, Arizona, Tennessee and Kentucky to name just a few.
American Home Mortgage filed at the federal court in Wilmington, Delaware on August 6, 2007 a Chapter 11 Bankruptcy kind of protection, as a result of the events that happened in the previous week where the company stated that many of its customers of lenders started to demand their money to be given back and the company was not able to provide back the approximately 800 million dollars in housing loans and mortgage commitments and in the process were forced to lay off about a little less than 7,000 of its employees (90% of their workforce).
Currently American Home Mortgage is powerless to proceed with the servicing and funding and origination of mortgage loans and no mortgage loans are being processed and accepted currently and is presently conforming to every provisions involved and related to the Chapter 11 of the US Bankruptcy law.
Before it filed for bankruptcy American Home Mortgage has about more than 600 branches in 40 plus states across the United States. American Home Mortgage was founded in New York City in 1987 and subsequently traded publicly on NASDAQ in September of 1999. The main headquarters of the company was then set up on Melville, NY in the year 2000.
Since its founding, American Home Mortgage has been always involved in engaging in the servicing and origination of mortgages for residential and other real estate properties.
American Home Mortgage continued to build a strong and solid reputations as a very reliable, outstanding and business friendly mortgage company as it serves and provide mortgage plans and lend services to professionals involved in the real estate industry, individual house buyers, builders throughout the many states in the United States such as Colorado, Missouri, Texas, Wyoming, New Mexico, Arizona, Tennessee and Kentucky to name just a few.
American Home Mortgage filed at the federal court in Wilmington, Delaware on August 6, 2007 a Chapter 11 Bankruptcy kind of protection, as a result of the events that happened in the previous week where the company stated that many of its customers of lenders started to demand their money to be given back and the company was not able to provide back the approximately 800 million dollars in housing loans and mortgage commitments and in the process were forced to lay off about a little less than 7,000 of its employees (90% of their workforce).
Currently American Home Mortgage is powerless to proceed with the servicing and funding and origination of mortgage loans and no mortgage loans are being processed and accepted currently and is presently conforming to every provisions involved and related to the Chapter 11 of the US Bankruptcy law.
