Comments on: ResMAE Ceases New Loan Origination http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sun, 15 Nov 2009 18:55:57 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: EyesWideOpen http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/comment-page-1/#comment-6546 EyesWideOpen Thu, 08 Nov 2007 00:12:28 +0000 http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/#comment-6546 They had no choice because subprime has dried up, plus the lawsuits, and investors not buying subprime on Wall Street! Economic survival kicked in. They had no choice because subprime has dried up, plus the lawsuits, and investors not buying subprime on Wall Street! Economic survival kicked in.

]]> By: Morgan Brown http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/comment-page-1/#comment-6533 Morgan Brown Wed, 07 Nov 2007 18:35:05 +0000 http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/#comment-6533 i agree that credit suisse dodged the bullet. i am sure that citadel will focus on maximizing servicing revenues or selling off assets to improve cash position, etc. i agree that credit suisse dodged the bullet. i am sure that citadel will focus on maximizing servicing revenues or selling off assets to improve cash position, etc.

]]> By: 5280Sean http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/comment-page-1/#comment-6520 5280Sean Wed, 07 Nov 2007 11:35:26 +0000 http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/#comment-6520 Chuck, What does CreditSuisse have to do with this? Nothing! FACTUALY SPEAKING; Citadel Group, (a Chicago based hedge fund) successfully won the bid for Resmae in February of this year. They (Citadel) won that bid against CreditSuisse. BY A LOT !!!! $$ Citadel's cash injection plan was to completely re-vamp Resmae's servicing platform. Or lack there of. Citidel felt that the only strategic way to survive the then "glitch" in the industry was to be able to "short service hold". Citadel clearly has the funds to execute this plan. I think what happend is that they finally realized that Resmae just doesn't have a solid management team to execute the game plan. Money but no management!!!! A shame!!! By the way, When this afore mentioned "glitch" was being dealt in a Delaware bankruptcy court the Implode-O-Meter was at #25 (Resmae) Actually, CreditSuisse dodged a bullet on this one!!! Chuck, What does CreditSuisse have to do with this? Nothing!
FACTUALY SPEAKING; Citadel Group, (a Chicago based hedge fund) successfully won the bid for Resmae in February of this year. They (Citadel) won that bid against CreditSuisse. BY A LOT !!!! $$
Citadel’s cash injection plan was to completely re-vamp Resmae’s servicing platform. Or lack there of.
Citidel felt that the only strategic way to survive the then “glitch” in the industry was to be able to “short service hold”. Citadel clearly has the funds to execute this plan. I think what happend is that they finally realized that Resmae just doesn’t have a solid management team to execute the game plan.
Money but no management!!!! A shame!!!
By the way, When this afore mentioned “glitch” was being dealt in a Delaware bankruptcy court the Implode-O-Meter was at #25 (Resmae)

Actually, CreditSuisse dodged a bullet on this one!!!

]]> By: Chuck http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/comment-page-1/#comment-6493 Chuck Wed, 07 Nov 2007 02:58:16 +0000 http://blownmortgage.com/2007/11/06/resmae-ceases-new-loan-origination/#comment-6493 This is a credit Suisse mistake to try to re-ignite a past failure and rekindle headaches. They need to write off their losses on this outfit. This is a credit Suisse mistake to try to re-ignite a past failure and rekindle headaches. They need to write off their losses on this outfit.

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