In an email sent to Forbes.com by an employee, AHM CEO Michael Strauss confirms the news (update: See also the official statement below):
“It is with great sadness I announce today that American Home Mortgage
has been forced to close. Unfortunately, the market conditions in both
the secondary mortgage market as well as the national real estate
market have deteriorated to the point that our business is no longer
viable,”
This puts their some 7,000 employees, a handful right here in the Twin Cities, on the street today.
American Home Mortgage Throws in the Towel [forbes]
American Home Mortgage Press Release on Production Shutdown [phx]
Related posts:
Equal Housing Lender |